Veltex Corporation (VLXC)

[Growth And Value]

Trading at CASH VALUE?

Didn't the auditor verify that cash at 12/31/2003 was $8,344,621?

My theory is that 6 million of this cash was used to buy K.C.A. garments. I also believe that K.C.A. garments is generating 0.22 in EPS.

I believe that the 1.3 million earnings for the first 6 months is accurate. If so, I see about 0.30 EPS for the year 2005 and a fair value of $2.40 Just my opinion as always.