Veltex Corporation (VLXC)

[shrotker]

I think we are trading at 2.00 because there are still 193 million shares authorized and no way for any of us to control how many get issued when and for what.


I make my judgements based on the O/S being at lease 25 million shares as I am including the 18 million that will eventually be used to complete the purchase of the mill. If this is not something that Matin wants to do why was it on the agenda. Notice how he did the KCA issue without even a hint of it being made publis. It will be the same way with the Mill. I wonder why the Mill issue was originally on the BOD agenda and the KCA issue was not. I guess Matin is getting smarter and more secretative after the reaxction we had to the Mill issue. Nothing stopped him from issuing 5 million more shares (2.5 times the company value) and nothing will stop him for issuing the 18 million for the Mill.

Just my opinion.

It is something he wants to do and until we see the 2004 audit and know who owns what and how many shares can be voted by whom we will not know enough.