The info behind my Hypothesis are that:
1- In August 2004 if my recollection is right, Matin did try to have a resolution at the BOD, the objective of which was to "buy what we did not hold" in Bengladesh. This became know almost by accident, someone posting it on a message board.
2- A bunch of shareholders went after Matin (up to then we tought we owned it all) and Matin pulled the resolution out (I beleive he anyhow kept including Bengladesh financials in his reports). He never mentionned this again thereafter (I suspect this is the reason we never can get credibly audited financials from the Bengladesh operation).
Some time later, someone told me that Matin had given this ownership as a garanty against a loan he badly needed (the transport disaster), he never was able to reimburse and he thereby lost the ownership of the Mills.
I also heard that the lowner could be someone related to Matin (This could mean that a relationship thereafter deteriorate or a plot is being covered up ???).
Obviously, all of the above (except for the resolution) cannot be verified and one should look at it in this context.
If the above reflects the reality, Matin's way out could be:
1- Grow a North American opêration
2- Gradually remove Bengladesh financials from his periodic reports,
3- Sell whatever minority ownership we may still have out there (In any case, all he has to do is claim he sold it)
4- Let some time go by then start normalizing the North American company in view of a listing on a more serious market.
Alternatively, if he is plotting with a related person in Bengladesh, he couls "sell VLXC" at market price + a certain %. I however beleive that, if that was the plan, he would stop giving numbers such as those released this morning agai,
Finally, all the above can very well be BS ... who knows (but Matin and his close ones ???
