Veltex Corporation (VLXC)

[SAMNOTSAMUEL]

Rawnoc when you have the time,

I saw the $570,000 figure, but I saw no explanation so I don't know if it was only relevant to 2003.

I have a hard time putting together the figures but if I choose to start with -$250K + $570K = $320K

Assuming 2.5 times greater revenue for fun for 2004 and same percentage profit 320 * 2.5 would provide an inaccurate guestimate of $800,000 profit for 2004. If use 3-fold $960,000 profits.

Compare $1 Million for 2004 then to the hoped $6 Million, I would argue the figures then are not disastrous but not good enough. Of course there could be $6 million profit, but 2003 audit does not hint at that, best as I can tell.

sam