Veltex Corporation (VLXC)

[SAMNOTSAMUEL]

If Matin is above board at least currently, forget 2004 for purposes of valuation. Look at $45-55 million estimate in 2005 to judge by. Currently nobody is willing to trust the $11 million net profits forecast and the end of year share count. Revenue totals are not trusted, as being meaninful anyway because of questions over Bangladesh.

The only thing to trust I believe is Veltex does have a real business, unknown as how to place value on. Also the reason this may be a good speculation is there appears to be growth, but that does not prove anything.

sam