Veltex Corporation (VLXC)

[Growth And Value]

I believe the $8+ Million cash for 2003 is in Bangladesh! All I know is it's not as easy to transfer that money into the U.S.

Probably a good portion was paid for K.C.A. Garments.

As for share increases, most of that occured in 2004. Since no audit is yet available for 2004, we don't know how much cash Veltex U.S.A. has on hand.

I am optimistic that much of the 6 Million share increase was to generate cash to make acquisitions.

I guess only Matin knows for sure right now. I still believe the share price is cheap since $1.225 * 8,000,000 = $9,800,000 market cap. At this rate, even if only 2,000,000 net income U.S. happens in 2005, that would be $0.25 EPS, or a P.E. of 4.9. If VLXC is acquiring a company with an additional $1,000,000 in net income, the price should increase substantially based on this acquisition alone.

I too wish Matin would provide much more details!