Veltex Corporation (VLXC)

[Growth And Value]

DD on VLXC shows disturbing facts:

KCA Garments was purchased for 1,000,000 VLVT shares in Feb 2004 prior to the reverse split (Approx. $10,000 total).
It's impossible that KCA could produce the $16.2 million (for the year 2004) in revenue that Matin claims from a total acquisition cost of $10-20K.

Veltex USA Sales were $639,889 in 2004 (from an income statement breakdown that was briefly posted on the website).

2004 Sales (according to Matin) were $41,639,889
KCA Garments claimed to be $16,200,000
Velvet Textile claimed to be $24,800,000
Veltex U.S.A. sales $639,889

Veltex doesn't even own Velvet Textile mills:

NOTICE OF SPECIAL MEETING OF SHAREHOLDERS OF VELTEX CORPORATION

Dated August 25, 2004

Notice is hereby given that a Special Meeting of the Shareholders of Veltex Corporation, (a Utah Corporation hereinafter referred to sa the "the Company") has been called by the Company's Board of Directors, to be held on the 15th day of September, 2004 at 9:00 a.m. at 342 East 900 South, Salt Late City, Utah (the office of American Registrar & Transfer Co.,) for the purpose of submitting the following proposals to a vote of the Company's shareholders:

a) To reverse split the Company's outstanding shares of common stock on a 1 share for 100 shares basis.

b) To issue 18,000,000 shares of the Company's common stock for all of the outstanding shares of Velvet Textile Mills Limited.

c) To conduct any other business that may be necessary as determined by the Board of Directors.