Veltex Corporation (VLXC)

[pual]

"it's just going to be too much work for the size of the crime."

This is exactly what I referred to many times in here.

Not that I like it but I very well understand that SEC barely have enough ressources to handle the "serious crimes" involving billions and none whatesoever to look into small possible misbehaviors which may have allowed a few millions to have been taken away from shareholders having accepted to "PLAY" the stock of an unaudited, non-reporting company.

This being said, I (call me naive) do not beleive Matin to be a crook heading a scam.

My beleif (supported by info I got from people who worked with or close to him) is that Matin, thru lack of competency, got burned and consumed a lot of cash he did not have.

At one point (recently I think) he had to face reality and accepted to listen to advisors (that would be new with him) telling him to clean his act or go under.

If so, getting his story lined up with facts (many he had been hiding such has morgaging assets without saying it) before reporting accurate pictures of the situation means a lot of work that Matin keeps under estimating... as always.

Ownership of Veltex Mills is certainly quite an issue to resolve. I personally he once owned it (may be even 100%) but cannot say that anymore having given it (partially at least) one loan after another over the last couple of years.

Incompetent but not stupid, I assume he has option to get it back and I suggest that's what he tried to do last August (18,000,000 shares).