Don't know enough about this company yet to tell you what the PPS might do the next couple of days or even in the near future, so do your own DD on this one for sure. It made a move upward yesterday and here is some of the news out. Symbol ( VLXC ) I know it has a very low float at the present time, but there are still some very important questions that need to be answered. If the news is accurate then the PPS is very low for the amount of gross revs and expected profits, but you know how much most of these small companies blow smoke with their news. Is it reaL OR A PUMP AND DUMP??? See what you think. wALK October 25, 2004 12:30:00 (ET)
CITY OF INDUSTRY, Calif., Oct 25, 2004 /PRNewswire-FirstCall via COMTEX/ -- Veltex Corporation (Pink Sheets: VLXC) plans to become a fully reporting Company upon the completion of its 2003 audit. The Company is currently undergoing the audit by a SEC licensed auditor. We expect the audit to be completed in the next 30 days. Veltex will also be announcing its 3rd quarter results on Wednesday, October 27 before the market opens.
Javeed Matin, Chairman and CEO states, "Over the past 5 years we have worked very hard to grow our business. Veltex has evolved from a startup stage company to a business on pace to produce over $40 million in revenues annually. We feel that now is an excellent time to reward all of the company's faithful shareholders and followers. We at Veltex believe that by becoming a fully reporting company we will significantly enhance investor confidence and the stock market will finally appreciate all of the hard work we have put in. Additionally, larger investors and institutional traders will be able to purchase shares of Veltex once the Company is listed on a major exchange and is filing SEC statements. During the first six months of 2004 we have produced over $20 million in revenues and $3 million in profits. We have numerous exciting opportunities that should materialize in the near future."
Veltex Corporation is a vertical manufacturing, import and distribution company composed of three divisions: Veltex Apparel, specializing in caps, apparel and apparel accessories for the Promotional Products Industry and distribution of merchandise; Velvet Textile Mills, specializing in the manufacture of high quality fabrics including velvets, 100% cotton twill, denim, sheeting for consumer and industrial products; and KCA Garment Industries, specializing in the manufacture of garments.
