Veltex Corporation (VLXC)

[invest1980]

shrotker, here is a press release from October of 2004.
Particularly, take a look at the following excerpt: "We feel that now is an excellent time to reward all of the company's faithful shareholders and followers"

But Matin claims to be ready to reward shareholders now! You think that maybe he is LYING.....after all, how do you reward sharedholders by issuing 4.5 million new shares after a 100 for 1 reverse split? The man is a lying unethical snake, no doubt about it.


CITY OF INDUSTRY, Calif., Oct. 25 /PRNewswire-FirstCall/ -- Veltex Corporation (Pink Sheets: VLXC - News) 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.

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]




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Source: Veltex Corporation