Tuesday, October 19, 2004 5:20:46 PM
Look at the following scenario:
Matin spent a few years building up the manufacturing facility I saw a picture of and an Asia based business which became quite successful.
Doing so (for whatever reason) Matin did not get the claimed 100% ownership of whatever this is.
He then came back to USA to create a distribution company and behaved as if he did have full control out in Bingladesh, issuing financial results including 100% of those of his "subsidiary" (???).
He went as far as having "Anne Tahim" issue an audit set of financials (99% based on another audit of the Bingladesh operation, done by another firm).
She later (as Investrend and more recently E & E) found out that Matin doesn't realy have control of Veltex Mills.
Oups !!!
Since Matin behaves as per this hidden critical information, continue to work at building the USA based leg of Veltex trying to figure out a way to correct his " error " (???).
He tries to pull a fast one on his shareholders trying to issue millions of shares thru a BOD resolution but gets caught by the nasty shareholders we are (Probably did not expect us to be following him that close).
Oups ... Again.
Here we are.
I do not have a clue how Matin will pull out of this mess but, one of these days he will have to set the record straith, one way or the other.
Then and only then will we be able to know what we realy own and what we do not. At that time only will "WE" know how many "WE" there are.
Patiently,
Roger
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