Zeev's Turnips Patch-No Politics (ZEEV)

[was hotlinktuna]

Hey AD, with strange stocks in mind look at this stock with a PE below 1! It is a pink sheet, but they just came out with a PR last week that compelled me to buy in at 2.35 ...here's the PR: Veltex Corporation Sees No Reason for Stock Decline
Thursday December 9, 9:17 am ET


CITY OF INDUSTRY, Calif., Dec. 9 /PRNewswire-FirstCall/ -- Veltex Corporation, (Pink Sheets: VLXC - News) a vertical manufacturing, import and distribution company for apparel and accessories announced today that it is not aware of any company developments that might be responsible for the recent decline in the price of its common stock. Javeed Matin, Chairman and CEO states, "Business has never been stronger and we believe that demand for our products will continue to grow in the future. Veltex expects to earn over $3/share in 2004 on sales of over $40 million, which makes our current stock price seem extremely undervalued. The shares of stock in the float for the company remain the same. Fundamentally and structurally, nothing has changed with Veltex."
Veltex is currently undergoing its 2003 audit, which the company expects to be completed by years end. The 2004 audit will begin as soon as the year is finished. Veltex plans on using the 2004 audit to become fully reporting and move off of the Pink Sheets and onto a major exchange.

Veltex Corporation plans to enter the $6 billion surf apparel industry. Using similar business models as Roxy and Quicksilver, Veltex will create and design apparel and accessories in order to establish itself in the surf apparel marketplace. Javeed Matin, Chairman and CEO states, "Entering the surf apparel industry offers great growth potential for Veltex. Even capturing a small percentage of this $6 billion industry will significantly impact our bottom line. We can offer customers a quality product at much lower prices than our competitors."

Veltex also announces the expansion of its sales force. Vice President of Sales and Marketing, Jordan Ross, expects to hire up to 50 new sales representatives in the first quarter of 2005. The new sales representatives will primarily focus on expanding Veltex's presence in the U.S. and making the Company a major player in the promotional products industry.

Veltex expects its products will also be offered in major retail and department stores in the first half of 2005. The Company will offer its own brand name products as well as private label apparel and accessories. A new product line is currently being created and designed to offer additional options in this market.

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.

http://www.veltexcorporation.com

http://www.veltexapparel.com


Safe Harbor: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of market prices, product demand, market competition, risks inherent in the Company's international operations, and the Company's ability to replace and expand.

For investor relations please contact Daniel Seifer at [phone] or [e-mail]
I figure I'll hang in til they report the '03 earnings they say will be completed within a couple of weeks...and it may get a pop from the release of it, if they again give further guidance for '04 and '05...tuna