Veltex Corporation (VLXC)

[pual]

Notwithstanding my previous post defining what I assume to be the picture as seen by those that didn't follow it as we did, I also have a good feeling since recent release. Certainly did not intend to throw stones at it now!!!

To end the week on a positive note, let me add that:

1- Comparing what the audited results did show, to what Matin documented in his Dec 4th 2002 business plan, we must admit that he then was saying the truth (Let's forget about his dream at the time seeing the PPS go at $2 to $5).

2- Even if we had (almost ???)abandonned the idea of seeing audited results, I do not know why it took so long but, Matin wasn't lying when he promissed it.

3- The recent visit by one of us did confirm that an office/warehouse there is, and Matin was able to enter a lease.

...

I also assume that MM's found us (dam plague if there is one) and therefore will have to live with these crooks for some time.

I also did try to get shares at $0.01 (still an important risk in my mind but odds seem better now than ever. $1000 will not hurt me if I get them, my cost will be even lower (easier to get back my old presumed lost money).

My point was that a first step was made for Matin to get some of his credibility back but, considering last 2 years history, additional steps (Q1 and Q2 2003) will be required if our PPS is to start reflecting the apparent financial situation of the company.

(Profit/share = + or - 1 cent on the basis of $160,000,000 O/S)X 15 = $15 cents