Replies to post #1285 on Veltex Corporation (VLXC)

[Sky-King]

It would seem that the company is in a tight spot. On the one hand any information given out about any dealings with 3rd parties will guarntee that that enity will be deludged with nasty phone calls and the like. On the other hand if you don't dispell any information how is anyone going to make any kind of judgement on how the company is doing.

In my opinion the company has to do two things in order to survive. Produce a credible audit and deal with the band of distractors lead by one obcessed person bent on the personal destruction of the CEO.

David

[pual]

Veltexhope,

Your e-mail was very appropriate but you were facing two possibilities allowing the same responses:

1- It's a scam of some kind
2- It's a real operating company and they have a lot of trouble getting their act together after 3 or 4 years of non management of the finances.

In both case, they had to write:

"Thank you very much for your suggestions. I am sending your suggestions to my other advisors to consider. I am with you. I will try my best to issue this release soon. May be on Monday."

Whatever the case was, all they could issue was (abstract from June 10th release":

"The progress with the audit continues to move ahead but is taking longer than anticipated. So far, there have been no accounting irregularities found and everything is going as intended. Veltex has decided not to set a finishing date
for the audit, but will keep investors informed as the audit is near completion."

Assuming this not being a scam, we have to be naïve to take it for granted that "taking longer than anticipated" meant many many more months than expected, but who (apart from them and the unnamed auditors) realy knows???

On the other hand, V.Duff is someone having credencials and her remaining involved may be the only good news I got from your message. This being said, the last time I trusted a presumably reliable person in such a context (the said person went as far as having his mansion photographed and we were able to visit it on internet) i and hundred others got royally screwed into owning miles of wallparer having the appearance of shares.

This being said, bottom lineis that Veltex is a bet and will remain one till the audited financials are available (if ever) and additional steps are then taken to render this company a real reporting company headed by a reputed BOD we can verify independently.

Till then let's wait till the wheel stop spinning and enjoy the "game" (alternatively, dump your shares at a penny or so and get your tax releif.

Thanks for your comments.