Veltex Corporation (VLXC)

[GratziPrego]

Thanks for the Audit Info Rginvestor and KlausVT, we can see that the Net Loss is Mainly attributed to Loss from Discontinued Operations, $976,686 and Loss from Disposal of Discontinued Operations, $561,154.

This is interesting because, as we can see, there is $1.9 Million in Operating Income (for Velvet Textile Mills year ended 12/31/2003). Therefore, the major part of the Net Loss of Consolidated, ($451,464), is due to the Discontinued Operations.

Consilidated Amounts to Consider:

CASH in Bank is about $8.3 Million
Accounts Receivable is $973,000
Inventory is $1,630,000
Fixed Assets, Net is about $8.6 Million

Total Current Assets = $11.1 Million
Total Current Liabilities = $8.1 Million

(Think about the Current Ratio= $11.1 Million/$8.1 Million, what's your opinion? I think Veltex is in Good Shape)