Veltex Corporation (QB) (VLXC) Quote

Did anyone go/get an update from the annual meeting?

yep Interest Expense is too high. They need to restructure the loan at a lower rate.

Over $200k in cash, so that should stop the dilution through borrowing. And this should mean a good and consistent growth in revenue and more and more $$ finding its way to the bottom line.

Two days before earnings should be out. Hopefully we see a very positive trend. Then screw all the dumb people that don't see the value because ultimately I think ACHC will and that should be $1.5-$2 fully-diluted

ACHC beat, but as we can see...they have bigger issues to sort out with the Government

The article said nothing about them buying 3 more rehab outfits, it was just about potentially beating earnings. But I did dig around some recent news and see that Acadia did but 3 more rehabs.

Jasper - you do know what you are invested in, right? Acadia is a roll-up of rehabs among other healthcare businesses. This article points out that they just bought three more.

Is this a mistaken post? Its for Acadia Healthcare?

https://finance.yahoo.com/news/acadia-healthcare-achc-beat-estimates-161016276.html

yes, they are starting to roll. The spread between how the company is doing and how the stock price is doing, is at its widest point ever...the spread is gonna narrow.

Well VLXC did it - the first Q with a positive Net Income - congrats to VLXC mgmt

clearly no one paying attention, but as I have stated before in the end this price action, beyond sucking seeing the value of your holdings, doesn't matter. The exit is VLXC gets rolled up or starts rolling up as CF becomes positive and grows

https://finance.yahoo.com/news/shareholder-veltex-corporation-veltex-recovery-195700300.html

file:///var/mobile/Library/SMS/Attachments/0f/15/4ED5AA32-DAC9-4296-BE7D-229F8435B517/DDD%20May%202024%20Credence%20with%20Mikron%20High%20Res.pdf

well we know our risk now

Stay tuned

Cynicism aside - it doesn't really matter. If you are a holder, the exit is an acquisition.

you were saying???

And so we begin our rise once again!

A good quarter all things considered. On a run rate of $1.7 million with almost that inreceivables so, they should soon show positive cash flows, and the quarter was a positive net income. So chugging along. I know it's not fast enough for most of us, but this has been years in the making, so Patience.

yes well as I have said before the exit is they get bought or they buy and get uplisted. The history of this stock is littered with PRs. They have slowly and thoughtfully disclosed information in the past. PRs have failed to generate real interest, and I am sure they feel it is a waste of money. So the information you need is on OTC and at the shareholder meeting otherwise you just need to bide your time and hope they continue to keep the business model moving forward and find a way for real value realization.

Looks like we'll be making a new low for 2023. Let's hope 2024 isn't quite as boring. Good Luck everyone.

yes - well asking this company to pump its stock price up so you can sell is silly - the reality of this stock and the way you see full value is for it to be acquired. You could have attended the meeting if it means that much to you.

Ki is expressing how many shareholders feel, its why the stock is .18 and doesn't trade. It doesn't mean we are all gonna run out and sell our shares at .15, it would be dumb.

Not sure about the website. If you must know I could not leave my 84 year old mother alone because she had fallen recently. The proof is in the pudding, as they say, read the financials. Look at FB. Look at OTC Markets. Sell your shares

What news has been posted lately? Why do they have a website if they don't keep it updated? Are you satisfied with the progress of this company? Why don't you go to the share holders meeting instead of asking if someone is going? This company needs to do a better job of keeping the share holders informed. I can't believe you even taking up for these people. Don't you think it would be to their benefit to promote VLXC stock? Could be $1.00 instead of 0.20 cents.

A few thoughts, everything, as it pertains to newsworthy information (financials, PRs), is on the OTC Markets website under VLXC. As far as the votes, the Board holds more than 50% of the stock. And finally, Veltex Recovery has a very detailed Facebook page so feel free to visit it.

It doesn't matter if it's earth shattering or not, we hear nothing from these people. They have a stock holder's meeting and you hear nothing. Zero - who was elected or who wasn't elected. No news concerning earnings. They could post pics of the progress on the new facilities they're building. You can do that with a cell phone, but not even that. The website isn't even updated. Go to share holder news - nothing since 2022. I'm beginning to think things aren't going as planned, and if it is, we'll be the last to know about it. Guess it'll be another year before we hear anything. See y'all at the end of 2024. Merry Christmas.

I guess nothing earth shattering was disclosed today.

thanks for responding, I guess no one cares or is going to the meeting. It would be nice if we could have asked a few questions at the meeting since we never really get any info from the company.

Not sure I agree. Proof of concept, the fact that they are approved for that number of beds, that they are "protected" in an area that desperately needs help, and so on might yield a buyer sooner rather than later.

I really wanted to go but biz just got too crazy. I would ask about revenues (why the dip, expectations), revenue recognition and perhaps most importantly exit strategy or strategy to get the stock to trade at its real value.

Can we get a show of hand of someone who is going to the meeting who can represent us? Maybe we can generate some questions for the board since the rest of us won't be there.

do you really think they are gonna give you a reasonable answer? I'd say they gotta get the whole building open and generating nice revs for awhile, then you can guess on your question.

... and if someone can ask and report back when they plan on selling the company.

anyone going to the meeting? If so, hoping you can provide a summary of it on this site. #1 question, where are we with the 32 new beds?

@jasper89 there is definitely a lag between incoming patients, billing and receipt. And I believe they cannot recognize the revenue in GAAP until they receive the funds from the insurer which in most cases I am sure is Medicaid and the like.

Accounts Receivable:
2022 $ 13,140 (whole year when biz had really not started yet)
1st qtr '23 $128,163 (biz starts)
2nd qtr '23 $454,220
3rd qtr '23 $672,694

Revenues:
1st qtr '23 $115,070 (biz starts)
2nd qtr '23 $372,764
3rd qtr '23 $271,474 (lower than 2nd qtr)
total 3 qtrs '23 $759,308

Its obvious that AR started to build during the 1st qtr '23, and build more each qtr. They get a patient and have to collect from the agencies like Medicaid, which must take months, so it gets put in AR?

So are their real revenues $759,208 (reported) so far after 3 qtrs in '23, or could they be $1,431,902 ($759,208 revs + $672,694 AR)?
The big AR number means something, no? It makes a difference as revs almost double with AR.

Appreciate any input/comment.

That is correct - will be interesting to find out why at the meeting.

3rd qtr revenues, looks like they may have dropped about 29% from 2nd qtr numbers. Anyone clarify?

https://www.otcmarkets.com/otcapi/company/financial-report/386358/content

Veltex Corporation Announces the 37th Annual Meeting of Shareholders

PR Newswire

CHICAGO, Nov. 14, 2023

CHICAGO, Nov. 14, 2023 /PRNewswire/ -- Veltex Corporation (OTCQB: VLXC) ("Veltex") announces the 37(th) Annual Meeting of Shareholders will be held on Tuesday, December 12, 2023, at the Mount Hope Campus of Veltex Recovery Group. The property is located at 101 Martin Drive, Mount Hope, West Virginia, USA, 25880. Telephone 1-312-235-4014.

Veltex Corporation Announces the 36th Annual Meeting of Shareholders

The 2023 Annual Meeting will begin at 10:00 a.m. Local Time. Only shareholders of record may attend the Annual Meeting.

Shareholders who attend the meeting will be asked to present valid picture identification, such as passport, a state driver's license or other government issued photo identification. Further, you must present proof of ownership of your Veltex Corporation common shares as of the record date to be admitted to the Annual Meeting. Proof of ownership can be any of the following: a Veltex Corporation account statement, a brokerage account statement, or a letter from the bank or broker who holds your shares. If you are a beneficial owner and plan to vote at the meeting, you must bring the legal proxy that was provided to you by the institution that holds your shares. If you are an authorized proxy, you must present the proper documentation. In all cases, valid photo identification will be required.

Cameras, cell phones, recording devices, and other electronic devices will not be permitted at the meeting. This will be to insure the privacy of any patients and/or residents, inter alia. Rules of the meeting will be printed on the back of the agenda, which will be provided to you at the meeting.

Shareholders may receive proxy materials via the internet if your broker provides such services. Your broker can inform shareholders how to access and review the information contained in the proxy materials and how to vote via the Internet, by mail or in person. By utilizing this method of delivery, Veltex Corporation avoids the cost and environmental effect of printing proxy materials.

The Notice will contain:
-- A Notice of the 2023 Annual Meeting of Shareholders;

-- A Proxy Statement with a description of the items to be voted on at the
Annual Meeting of Shareholders and the recommendation of Veltex
Corporation's Board of Directors with regard to each item, if applicable.

The Notice of Meeting and Proxy Materials will be made available to shareholders on or about November 24, 2023, and mailed on or about that date to those shareholders who previously requested written materials.

Any shareholders who own Veltex Corporation common stock at the close of business on Wednesday, Friday November 17, 2023, may vote. This will be the record date for the meeting. If you are a shareholder of record, you may vote your shares in person at the 2023 Annual Meeting. If you are a beneficial owner of shares held in street name (i.e., your shares are held in a stock brokerage account or by a bank or other holder of record), as stated above, you must present a valid picture identification and a legal proxy provided by the institution, which holds your shares in order to vote in person at the 2023 Annual Meeting. If your shares are held under one of the company's Employee Savings Plans, only the Trustee for the Plans can vote your plan shares, even if you attend the meeting in person. To allow sufficient time for the Trustee to vote your shares, your voting instructions must be received by 6:00 a.m. Central Time, December 06, 2023.

If you have additional questions regarding the 2023 Annual Meeting of Shareholders, please contact Shareholder Services at Info @Lynn Goodman-235-4014.

Veltex Corporation, incorporated in Utah September 17, 1987, is a public holding corporation, which maintains its corporate headquarters in Chicago, Illinois. The company's common shares trade OTC Markets OTCQB under the symbol VLXC. Veltex Medical, Inc., a Delaware corporation and Veltex Properties, Inc., a Delaware corporation, are both wholly owned subsidiaries of Veltex Corporation.

Safe Harbor Statement

Forward Looking Statement

Safe Harbor Statement: Certain of the above statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. This press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Veltex or its management "believes," "expects," "anticipates," "foresees," "seeks," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe Veltex's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company, Veltex, as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.

View original content to download multimedia:https://www.prnewswire.com/news-releases/veltex-corporation-announces-the-37th-annual-meeting-of-shareholders-301988252.html

SOURCE Veltex Corporation

/CONTACT: Stephen Macklem, macklem@firstoptions.com


> Dow Jones Newswires

November 14, 2023 17:27 ET (22:27 GMT)

actually looking at my old model - I just did 4xx for this, clearly it is even better. They must not have had all 28 beds going for the entire quarter. If you look at the average day rate for a bed it is around $400. So really eventually the run rate for just inpatients should be between $2.5-$4 mm per year. If fully occupied throughout the year it would be closer to the $4 mm.

Their annual revenue run rate for the first phase of 28 beds is probably more like $2.5 mil/yr. You have to include most of the accounts receivable as billings in the last month of a qtr go into AR as collecting money from entities takes time. Here is my guess as to their revenues, maybe someone else has one as well. I don't believe that each bed brings in $400, maybe $250.

2nd qtr rev $370
2nd qtr AR $330
total for 2nd qtr $700k
when 60 beds $4.5-$5.0 mil/yr

The model is working, just have to get to 60-70 beds. Its the stock that isn't. Have to see what happens down the line.

that's true but the model is now proven and eventually, when all the beds are up and running they will have to notice. With 250 beds at $400 per bed per day. Even at a 75% utilization rate that is still $27.5 mm of annual rev and that is not counting any day patients or add on services

That's old but good news, no one sees these financials, and no one out there cares except a few of us. No followers, no stock trading except a big seller, stock at lows...just calling the kettle black.

Guess I wasn't the only one who missed this. The whole market missed it. This company, with just the original first phase of beds is on an annual run rate of $1.6 mm from $0. Talk about proving your model.https://www.otcmarkets.com/otcapi/company/financial-report/378923/content

no - no need for a wasted effort but if it breaks $0.10 I will definitely look to do so

do you have your .05 bid in?

honestly at this point, there is part of me that hopes he drives it to $0.05 - even though I really am kind of full up here just know ing the progress this company has made I would have to try and add more

apparently not, this large punk seller seems to have an endless supply and is driving it to ???