Sorry but to be honest, I have no clue what this is all about. I do not understand what game is being played by the level of mismanagement of PR or IR this outfit has issued over the last year.
If Veltex is a scam, they have failed miserably.
If it is not, they have protected themselves by saying the thruth in such a way that the market did not beleive them. One reason for that could be that they try to acquire millions of shares (wouldn't be the first time insiders cheat the market) at lowest possible price, before what they claimed (audit) becomes reality.
Short of getting to know fact from within the company itself, I do not see how we can do any worthwhile DD. The only source of information (except for message boards that you do not know what it's all about) is the company itself.
As for D&B, them saying it's high risk (4) and saying they are financially stressed (4) seems quite obvious. Increasing authorized shares to 200,000,000 should have been related to the said stress but dumping them at less than a penny is certainly not what they should have had in mind.
The statement: "the report for Veltex Corporation has experienced a high number of updates at the request of the business principal." however is interesting. Whatever the company realy does, they do not seem to hide having their PR's published all over the place and they feel required to update the D&B report regularly. This behavior, having many shareholders claiming they advised SEC, suggest that may be (MAY BE) they are effectively building up something???
Add that to V.Duff comments and you can build a picture suggesting that something real is going on out there.
Even if it is tough to beleive, may be the darn audit is being made and tough to complete.
And may be I am full of chit ...who the heck knows.
Whatever the case is chipping in an additional BET of $500 seemed attractive and I did try my luck. $500 to loose and much more to earn. Only future will tell...
-Risk Rating 4 (5 being the worst)
-Financial Stress Class 4 (same)
