I gave you guys Veltex Corp, VLXC, a short while ago. It was .15-.18. Now its .34 and this week they announced a big deal for rehab of opioid addiction in West Virginia, one of the worst states for opioid addiction in the country. Now, today, they announced a $3 mil share stock buyback program, effective immediately. No debt and a big tax credit.
CHICAGO, June 25, 2020 /PRNewswire/ -- Veltex Corporation -- OTC Markets symbol ("VLXC ") -- Veltex Corporation ("the Corporation") announced today that its Board of Directors at a Special Meeting has authorized a common stock repurchase program. The new program authorizes the repurchase of up to three million dollars ($3,000,000) of the Company's outstanding common stock. The program is to take effect immediately.
Under this program, management is authorized to repurchase shares through Rule 10b5-1 plans, open market purchases, privately negotiated transactions, block purchases or otherwise in accordance with applicable federal securities laws. Depending on market conditions and other factors, repurchases may be made at any time or from time to time, without prior notice. The Corporation may expand, suspend, or discontinue the program at any time.