Veltex Corporation (VLXC)

[pual]

First Matin said, when there was roughly (my recollection) 16,500,000 O/S, that he was to buyback 1,000,000 shares (and by the way 1,000,000 options we did not know even existed).

10 months later we find out the number of O/S went up 30% to 20,000,000 from a presumed level of 15,000,000 after the buyback God and Matin know what for ???

Now Matin says he will buyback 2,500,000 shares (no mention of options this time ???). This assumes he has at least $600,000 worth of cash he can spare ???

If he is (and was) that cash rich, why did he issue 3,500,000 new shares, after he presumably bought back 1,000,000 shares then accumulated cash again to announce a new buyback.

This guy is so ridiculous that I doubt he even is anything but outright stupid (however smart enough to have suckl in a lot of sucker I am one of).

At least I knew all the way the risk. I tought ... a long time ago ... that high return potential made the risk worthwhile.

I certainly do not think the return potential to be great anymore but the risk is now real low at $0.2x/share.

I hope I can listen to the conference call ... that is, if conference call there end up being ???