kingnazzikanazzer - The audit firm is referenced in the 10k and annual report. I am aware that it is not required in the press release nor has Matin stated he would. A press release of audit results without name of the audit firm would carry little weight with investors and the stock price because of Matin's credibility problem and add to the lack of credibility. My complaint would simply document the history of statements about an audit and becoming a reporting company from 1999 to the most recent comment of 6/10/03.
I have not called Matin since May due to none of my phone calls being returned. I suspect the response about the audit would be "the audit will be done when it is done" or something of that nature. An audit should not take this long unless there are major issues, which I hope is not true. Maybe Matin is prolonging the situation so that the audit will not occur until 2003, which is not acceptable to me. I can only speculate about the audit. What I do know is the audit should not take this long. There needs to be some kind of finality about the audit.
Pual - The 3-6 month comment in the 6/10/03 press release had nothing to do with the audit. The 3-6 month statement appears in the second paragraph after the audit paragraph. The 3-6 month paragraph reads as follows:
Javeed Matin, CEO of Veltex Corporation quotes, "We are working hard to improve sales and profits, as well as the financial strength of the company. Once everything falls into place in 3-6 months, investors will take notice of Veltex and we can take that big step in becoming a more respectable company."
How many times before have we heard that phrase "investors will take notice.'
Veltextruth - So far Matin has shown no concern towards shareholders and increasing shareholder value. If enough shareholders emailed him, maybe he would take notice but so far he has shown little inclination to heed what shareholders say.
