Replies to post #7972 on Veltex Corporation (VLXC)

[pual]

"1. Most of Veltex's historical revenues are generated overseas (I recommend that you try reading the 2001/2002 financial to avoid coming across as an moron)"

This is exactly why the overseas ownership is of such a critical issue. At the time all (99%) but $ 261,000 of revenues showned were generated out there.

As for the audit itself, considering the disclaimer included in the transmittal letter, it was done (according to Anne Tahim for the $261,000) but she has not done anything but taken a document handed to her by the company. We do not know if it had been audited or not, who would have done the audit and even then, who effectively owned whatever was audited overseas.

Anyone arguing based on this report either doesn't understand what it is or doesn't want to see it for what it is ... for whatever reasons.

[hapslap]

All good points King. BUT wouldn't it make sense for Matin to take a more measured stance with respect to expansion. (Apparently) the company has been nicely profitable for the past few years. Why then wouldn't Matin delay expansion and return some money to investors, as he said he would (shares repurchases remember). The move would instill confidence in the investment community and drive the share price up. Matin could then us high-priced shares to make acquisitions and fund operations rather than dilute the sh it out of existing shareholders. He has not acted like the CEO of a chronically undervalued company!!