Veltex Corporation (VLXC)

[pual]

Since we are in guessing mode:

MAYBE 4,000,000 shares were used to buy Veltex Mills (or whatever portion of it we didn't own as of last August 25th)

and MAYBE 500,000 more were used to "complete the purchase of KCA.

Whatever the case, we have no clue where these shares went.

It may end up being a pure theft by Matin and his close ones, it may be a step toward normalizing a less than honorable string of hidden facts and events or anything we want to IMAGINE.

Personally, I tend to beleive that:

1- Matin dreamt in 2002 and embarked himself on a grand synergy scheme

2- He had tremendous financial dificulties (at least with his transportation adventure) and had to borrow against assets he had (Veltex Mills ?)

3- Badly needed cashflow to keep going

4- Finally understood he needed clean books, audited and reported if serious funds were to be accessible

5- Got his auditors and lawyer at work trying to clean the mess before anything could be done in view of becoming a normal company.

And that's where we stand, waiting for them to finalize the cleaning.

This being said: What do I know?