Veltex Corporation (VLXC)

[pual]

"I wonder how Matin is about paying his bills to these people?"

From what I found out in the past two main reasons why people cannot stay around Matin:

1- He doesn't listen
2- He doesn't pay his bills (or cheques do bounce)

V.Duff (both reasons), Paul (number 2 mainly), Investrend (number 2). Do not yet know about the others.

Another thing I found was that Matin effectively operates with large "cashflow" shortage notwithstanding loans (garantied by assets) growing all the time.

I effectively beleive that Matin is only interested in large shareholders and that is probably why he finally understood that cleaning his financial mess, having an audit performed, reporting to SEC and getting listed on a real stock market was the only way for him to get ahead with his plans (most likely not having total control anymore).

If this HYPOTHESIS is right, I suspect performing a real audit will involve cleaning the house (loans, ownership, ...) before audited financials of significance can be produced.

I even beleive that audits of both FY2003 and FY2004 could be issued simultaneously sometime in first half 2005.

Just putting out FY2003 would probably look quite bad (if done honestly since it very well could show that the claimed numbers were including those of outfits we did not even realy own (Veltex Mills, KCA) at the time.

Current major growth of issued shares (MY OPINION) are reflecting the house cleaning operation I describe in here.

On the other hand, what do I (we) realy know?