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Alias Born | 02/13/2005 |
Wednesday, May 18, 2005 2:28:53 PM
The Bandladesh Auditor, M. N. Islam & Company is a member of the
The Institute of Chartered Accountants of Bangladesh. You can find that here: http://www.icab-bd.org/about/ I guess if you believe that all Bangladeshies lie, then you could make the argument that he is not telling the truth.
I know that K.C.A. Garments Limited is a member of the
Bangladesh apparel manufacturers. You can find it here:
http://www.bangladeshgarments.info/bgmea/y_pages/apparel/common/index.cfm
I feel that alot of cash and stock was used to purchase K.C.A., so I feel that the 16 Million in Sales and 2.2 Million in profit for K.C.A. for 2004 is accurate.
Just for argument sake, I would say that (1.8 Million U.S. sales per quarter from recent P.R.s) * 4 = $7.2 Million sales, $800,000 profit.
Velvet Textile has been more difficult to verify. Still, from what I can gather, VLXC should have verifiable income of 3 Million, or $0.38 per share. $0.38 * 7.5 = $2.85 share price right now. You can disagree with me, but I'm telling you exactly where I am coming from!!!
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