Veltex Corporation (VLXC)

[Growth And Value]

Matin has said many times that Velvet Textile provides KCA Garments with fabric, KCA cuts and sows the fabric into shirts and pants and Veltex Apparel imports the shirts and pants into the U.S. and Canada and sells the products through trade shows, their own website and hundreds of distributors.

By performing all three functions, margins are higher than if you are just a manufacturer. It makes sense to me that if you make almost 5% margin on each "function", then combined 13% is very reasonable.

Sure, some people have doubts. That's fine, but what proof do they have? For Matin, he has Anne Tahim's signature that for Velvet Textile Mills, the audit was compiled by other auditors WHOSE REPORTS HAVE BEEN FURNISHED TO US.

We also know that M.N. Islam & Company is a member of The Institute of Chartered Accountants of Bangladesh. We also know that the S.E.C. treats foreigh auditors the same as U.S. auditors, they don't descriminate.

I believe that lots of cash and stock was used to purchase K.C.A. Garments, so I feel that the numbers for them are real.

I also believe Matin who has said many times that he put $7 Million of his own money into Velvet Textile Mills.

It may take some time, but hiring a C.P.A. firm who is known to take companies to larger exchanges is a positive sign. Things very well could be much better than some bashers would have us believe.