Veltex Corporation (VLXC)

[Mastman]

It is not my intention to defend Veltex, but I remain convinced that growth is the key component with small start-ups. As regards the letter of credit it has always been a good business principle to use borrowed money for any venture.

I had a stint a while back where a partner and I bought, rented and sold real estate. In all instances we mortgaged the properties as the worst that could have happened is default and foreclosure and we only had to risk 10% of our own capital. It's a matter of leveraging risk.

Sure a dividend would be great, but how long did it take Microsoft to begin issuing one?

My indicator will be the '04 audit (if and when) and the proximity of it to the prediction of 40 million in revenue.