The Company, on March 26, 2012, in the United States District Court for the Central District of California, was awarded and a final judgment entered in the amount of $100,078,621 in favor of Veltex in Case No. CV 10 1746 ABC (PJWs). The accrued interest reflected in the September 30, 2014 accounting was $25,942,898.Following the last annual meeting, the company wrote $142,000,000.
(January 29, 2015) Veltex Corporation seeks to update shareholders on the immediate future of the company as developments warrant.
The last Financials I can find are dated September 30,2015. Therein I see that 50,016,130 shares were issued and outstanding.
However, on the company Internet site (Investors relations) I read: Outstanding Shares: 62,689,598 as of 2015 Sept 30 ???
Following the last annual meeting, The votes to approve the Recapitalization Plan thereby effecting a reverse split of 1 for 25 (one for twenty five) of the common shares of the corporation were 'FOR: 32,783,396 or 94.5% (On that basis O/S should be closer to 34.7 million shares than 62.7 ???
Would'nt it be nice if the company was to tell us shareholders what we own, what the company tries to do and what are the stratégies the company considers for the future.
The level and quality of information we have currently is more or less the same we had in the old days. Everybody now knows that the the published informations were false.
I've owned shares in this outfit for more or less 20 years, and I must say that all along I was lied to or kept unaware of what the company was and is all about.
I hope my succession will find out what that will have been Worth or not, sometime in the future.
