Veltex Corporation (VLXC)

[free advise]

The analyst said based on account was given to him

I do not see analyst making any mistake here at all. But what I saw today (not from guru but another guy named Helmut Dietrick in SC who supplied some machinery to Veltex and went there with a man named Charlie Funderbork) They told me that total asset of that mill in Bangladesh is less than half a million dollar that include land and building. Moreover, that factory is not own by Veltex and partners are fighting over it.

A man name Shahjahan from Bangleedesh now in Maryland, United States said he rented few looms from Metin last year to make some cheap cloth for rag trade. He also said that factory is just an old, small ragtag factory and was never operation (this support gurus claim)

There are 2 container load of T-shirts that Veltex got about 6 months ago and sitting in Tennesse, accumulating storage charges. Man who gave these T-shirts to Metin wants his money. But Metin told him that those T-shirts were lost on sea.

Metin is asking $22 a dozen but he will get no more than $12 a dozen and he must still wait till June/july when 2nd quality T-shirts market picks up.

Thats all for now.

FA