Replies to post #7593 on Veltex Corporation (VLXC)

[shrotker]

King. In answer to your question.

I was never willing to give Matin a dime. I was advised by Paul Knopick of E&E that Matin was interested in a private placement. I used that as a way to contact Matin and express interest in the hope that he would provide information not readily available otherwise. I managed to get several documents from him, but not the ones that I needed to be able to understand the finances of the company.

Matin wanted to raise one million dollars in 2004 and two million is 2005. According to him he needed this financing to reach 100 million dollars in sales.

He was willing to take as little as 25K from individual investors. Apparently he found funding elsewhere as he stopped communicating with me.

It's good to have faith and you seem to have plenty. I just hope you know the difference between believing and cheerleading.


I would be very pleased if this company was a big success and you all made money. I have made money here and I never cry over past decisions. My only concern here is that some folks take unbridled optimism as a fundamental indicator which it is most definately not.