Replies to post #10304 on Veltex Corporation (VLXC)

[george8]

>>...
As of 06/01/2005 shares outstanding 10,000,000
float approx. 3 Million per a press release
Explorer Headgear received about 2.5 Million shares I believe.
Insiders own approx. 4.5 Million
...<<

Above is partial quote of your previous post. Insiders own 4.5 mln share which is not over 50%. Now, if Explorer Headgear's shares are lumped together, then they will have 7 mln shares (70%). They can dump over 1 mln shares and still have over 50% ownership.

Also, there might have been different classes of shares that gives certain class more voting power than the others. Does anyone know if evey VLXC share is exactly equal?

And, by the way, I wonder if you could enlighten me and the thread about the law and regulations on the requirement to hold "Annual Shareholders Meeting"?

You seem to be saying that if insiders own over 50% of a public co., then there is no need for annual meeting, which is foreign to me.

How much does Matin personally own and control? Who are on the Board of Directors?

I am curious as to how a public co. is allowed to be so mysterious?