Replies to post #1297 on Veltex Corporation (VLXC)

[veltexhope]

Thanks Roger,

All i can say is I hope your hypothesis is correct in assuming:

"If it is not, they have protected themselves by saying the thruth in such a way that the market did not beleive them. One reason for that could be that they try to acquire millions of shares (wouldn't be the first time insiders cheat the market) at lowest possible price, before what they claimed (audit) becomes reality."

That would be fine with me! I sort of had the same logic (obviously hoping for the best) with the accumulation recently at extreme low prices.

-V.Duff + D & B = our only hope of this company's going concern standpoint.

Something else I'd like to point out is that after speaking with Victoria Duff, she mentioned to me that
A) the auditing firm was a respectable company and we will all be able to research the validity, no problem (ie. internet, etc.)
B) Due to the constant harrasing on the bashers on RB, she advised Matin not to publish any info regarding the name of the firm, when it will be completed, etc. due to these bashers AND b/c she said that the accounting firm keeps pushing back the completion due to documents needing to be attained from thr foreign sub. and other complications. Further, no reason to give a time frame when Matin is not the one actually setting it. Therefore, her suggestion both leaves shareholders hanging in the wind but also keeps the bashers from distrupting operations.

I understand the reasoning behind it. This is a small company and this basher that goes by the name "textileguru" on RB supposedly makes harrassing phone calls all day to any company associated with Veltex threatening SEC violations and fraud, whereupon these co. dont even want to do business with VLVT. V.Duff told me "textileguru" was a employee of VLVT (i believe she told me this, i might be mistaken) and was either fired or left b/c matin screwed him out of money. Either way, this guy has a personal vandeta against Matin and will do anything to ruin his reputation.

I am happy that I am able to talk to someone on this board that poses intelligence and insight, therefore thanking you in advance while we pray for this audit!

[dagnyish]

Pual, I don't think Veltex is a scam. Scams are usually much better at portraying a rosy picture that nobody doubts.

I just think the simplest answer is the right one in this case - that Matin is too much of a tight-wad to hire good IR firms. I also think he didn't do enough due diligence on some of the companies he brought under the Veltex wing. On the other hand, he was quick to cut them loose.

I am still waiting for the audit.