Veltex Corporation (VLXC)

[GratziPrego]

Here is an excerpt from the Veltex Financial Statements for the Years Ended December 31, 2017 and 2016:


"The amount of post-change income that may be offset by pre-change losses is limited each year
by the "Section 382 Limitation." Generally, the Section 382 Limitation is an amount equal to the
value of the old loss corporation multiplied by a long-term interest rate established monthly by the
Internal Revenue Service. The Company has not yet determined the qualifying events and
resulting limitation that may impact utilization of net operating losses against future periods.
At December 31, 2017, management has recorded an allowance for the entire amount of the
deferred tax asset.
On December 22, 2017 the Tax Cuts and Jobs Act (the “Act”) was signed into law. Among other
provisions, the Act reduces the Federal statutory corporate income tax rate from 35% to 21%. This
rate reduction is expected to have a significant impact on the Company's provisions for income
taxes for periods beginning after December, 2017, including a one-time impact resulting from the
revaluation of the Company's deferred tax assets to reflect the new lower rate."


Also, Management, the Board, and Legal Team, are making Efforts to Collect on the Judgment. They are Trying to Collect what they can.

"Various government agencies are pursuing seizure of assets against the defendants, and
management is unable to determine whether the judgment is collectable in whole or in part.
Management is unable to address with reasonable certainty the collectability of these legal
judgments, but will continue to pursue them within its legal rights."

Let's appreciate their Efforts.

Gratzi