Veltex Corporation (VLXC)

[Growth And Value]

Why would Anne Tahim Lie? For one audit fee? I don't think so. In her audit, she stated that she was provided the audit report from the Bangladesh auditor. Would Anne Tahim risk her companies future for this one audit fee? No, I believe she was provided the Bangladesh auditor's report.

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!!!