Veltex Corporation (VLXC)

[pual]

Great advice.

Personally all I realy care about right now is to see an audit covering the USA business done in 2004 (kind of report we just got for 2003). Did all the marketing activities conducted in 2004 translate into revenues (we had none in 2001, none in 2003 and $261,000 in 2002) and to what level. If a real "distribution" operation is growing in USA (startup taking off), we could soon have some kind of justified PPS. (Wouldn't take much to justify a capitalisation of less than $10,000,000). After all, even the mice wrote: "I understand, there is a good marketing man at Veltex."

As for the Bengladesh operation, it will remain difficult to assess and I do not expect a 2004 audit to clear the air completely on this issue (We may have to rely once more on a unaudited Matin's letter refering to that). If and whenever we find out that an operation there is or not and we own some or all of whatever is out there, then we shall gain a lot or just own a small stock in a small company.
JMHO