CHICAGO, IL--(Marketwired - January 30, 2015) - Veltex Corporation -- (OTC PINK: VLXC) - For the purpose of this revision, the Company, on March 26, 2012, was awarded the amount of $100,078,621 in favor of Veltex in Case No. CV 10 1746 ABC (PJWs).
The accrued interest will now (January 30, 2015) be reflected as $25,942,898 up from $2,281,950 or an increase of $23,660,948.
This represent more or less $ 8,000,000 per year added BOOK value (We however have no idea what that means in term of Real MARKET value.
I stand to be corrected but that's the last I think we heard.
Assuming 40,000,000 O/S at more or less $0.12, the market suggest this more or less $140,000,000 Book value is only Worth (40,000,000 X .012) $ 5,000,00
Would it not be nice if:
- The company was keeping us up to date relative to the current book value,
- If this increasing of the book value can go forever,
- If not, when should it stop accumulating interests,
- Is the management strategy to let it grow forever,
- What is the management waiting for, before deciding to invest/sell it to make it formal market value,
What if any is the strategy of the company?
Assuming 40,000,000 O/S (???) at more or less $0.12, the market suggest this more or less $140,000,000 Book value is currently Worth (40,000,000 X .012) $ 5,000,000 (less than 4% the book value)
In 40 years of investing and doing a little trading for fun, I never saw any situation as ridiculous as this one. What would it take for the management to define to the market what VLXC is and what it is not?
Ridiculous !!!
