Veltex Corporation (VLXC)

[kingnazzikanazzer]

Improving cash flow? Yes, IMO. Here's why.

Early this year it was common for the company to issue 5 - 10 million shares a month for 3- 4 cents. Proceeds from 7.5 million shares at .035 yields over $250,000. Last month however, if we assume 10 million shares were issued for cash at .0025, yielded proceeds is only $25,000. A 10 fold improvement.

It appears to me that Matin has effectively restructured the trucking unit. I agree with Dag that the 2003 numbers won't look real good, but I think 2004 may shine bright.

Also, as the stock price increases, to say .025, Matin only neeads to sell 1 million shares for $25,000.

Finally, we're all assuming the worse that these proceeds are going to the trucking. But think about the expensive accounting fees. Audit costs should be significantly less next year with the 2003 baseline.

Just my humble opinion. For the first time in months, I'm becoming confident.