Veltex Corporation (VLXC)

[Growth And Value]

We are still way undervalued based on U.S. & Canada Sales Alone

I have an estimated revenue and earnings numbers in mind for 2005 (U.S. & Canada only) and it's in the double digit Millions for sales and low single digit Millions for earnings.

These are just my estimates based on what Veltex has disclosed so far this year.

I still think the price is well undervalued not even counting the Bangladesh operations.

I think the market has already "discounted" Bangladesh because it's just too hard to know will any level of certainty.

Now, if Bangladesh does become consolidated in 2004 or 2005, VLXC would be severly undervalued.

My point of view is to forgive for past mistakes as long as Matin is doing everything is his power to make the future successful. I don't think he's going to all these trade shows just for "show".

City Dates # Days
Orlando, Fl 1/3-1/5/05 3
Orlando, Fl 1/7-1/9/05 3
Las Vegas 1/10-1/13/05 4
Long Beach CA 1/14-1/16/05 3
San Diego CA 1/20-1/22/05 3
Dallas TX 2/2-2/4/05 3
Las Vegas 3/14-3/17/05 4
San Diego CA 3/8-3/9/05 2
Atlantic City N 3/10-3/13/05 4
Houston, TX 3/14-3/18/05 5
Las Vegas 3/30-4/1/05 3
Jacksonville Fl 5/2/2005 1
Orlando, Fl 5/3/2005 1
Tampa FL 5/4/2005 1
Ft Lauderdale F 5/5/2005 1
Miami FL 5/6/2005 1

And the year is less than 1/2 over.