I definitely do not think they need me to find the solution I suggested. As a matter of fact, they think they have had the appropriate Partner for 2.5 years in Batuta Capital Advisors to assist. (I assume they are still in the picture ???)
Batuta Capital targets middle market and special situation opportunities, specializing in turnarounds and distressed opportunities.
Them and our management however have to make up their own mind on what alternative to favor and stop running after everything that moves.
2.5 years ago, the President and CEO of Veltex statedW"we have determined that it is prudent to undertake a review of our strategic options to determine which alternative(s) are(is) in fact the best way to maximize shareholder value.
It then was said that partnering with Batuta Capital was a strong move at the right time and in the right direction."
It also was then said that "The Board of Directors for Veltex has determined that it is in the best interest of its shareholders to consider itself a possible acquisition target, at a minimum, to a strategic company that possesses the necessary resources to invest in and capitalize on the significant potential asset value of Veltex's current booked NOL carry forwards and value in the current legal judgments of approximately $150 million dollars."
What realy happen since then ??? (Seems to be a well kept secret).
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