Veltex Corporation (VLXC)

[invest1980]

Can someone tell me why the "audited financials" for 2003 show sales of $15 Million, but Matin was touting sales of $19.9 Million in 2003 (and in fact the web page that has the audit info has $19.9 Million for 2003 just below the audit document links). Granted that sales for the trucking business was not included as it was collapsed in the discontinued operations piece, but the sales for the trucking piece was only $758K. Where did the other $5 million in revenue evaporate to?

And trucking business was the only business in USA that generated any sales? Didn't they have a "Go Vacations" subsidiary at that time also? Wasn't veltex apparel around back then also? How could they possibly not show any Sales in the States if they are acting as their own distributor for Veltex Textile Mills? Are they saying that people in the states purchased directly from Veltex Mills in Bangladesh and paid them directly and therefore States Operations recognized no revenue(I find that hard to believe)?

There is something very very fishy about the numbers in this audit.Now I know why Matin issued that press release this morning. He wanted to get one last pump in so he can dump a few more shares above $1 as this stock will certainly tank tomorrow.