Veltex Corporation (VLXC)

[ImakeMONEY]

I find it curious that a letter of credit was required to bring in fall inventory when expected sales are only 2 million. They don't have enough cash to bankroll 2 million in inventory?

I'm sincerely curious where all the revenue goes and has gone over the past 2 years. I'm not sure of the amount that appears to have flowed through, but it must be over 100 million gross.

Even June's PR stated: "Veltex currently has approximately ten million shares outstanding and forecasts that 2005 total revenues will exceed $60 million with net earnings easily surpassing $1.00 per share."

So where is that $1/share in earnings when it comes to buying fall inventory??? Lack of transparancy continues to be the anchor on this stock.

Robert

ps. how's this for pleasing their investors. Stop acquisitions and spending for 12 months and declare a dividened in the amount of the earnings for that year. current estimate $1/share. That would help fix the share price and investor confidence.