Veltex Corporation (VLXC)

[Growth And Value]

Paul, I applaud your patience too!! I think being patient will work out well with VLXC. I believe that Matin is planning for VLXC to become fully reporting. I think he will begin divesting in Bangladesh and reinvest those funds in North American apparel companies that will be able to meet the SEC reporting requirements and SOX. It may cost $500,000 per year, but the benefits could mean twice the market cap. I think a "fully reporting" $0.30 per share is better than $1.00 per share that doesn't have a full audit report and financial statements.

It was small, but I'm sure you noticed how the 2005 revenue estimates went from 55 Million before Veltex-Explorer ($7 Million estimated in 2005) to $60 Million after the announcement. Why not $62 Million? I think he is gradually reducing the Bangladesh estimates while the North American sales increase. I know I've said this before, but I believe the North American sales and earnings alone justify a higher stock price. I think the filing of the 10K & 10Q will likely happen in April of 2006.