Yesterday the United States District Court for southern district of Ohio ordered that Dafcan Finance and One Equity Corporation of Westerville, Ohio deposit common share of Veltex Corporation (OTC Pink Sheets: VLXC) With the court the court's order arises out of suit filed by Javeed Matin, principal share holder, against those entities with respect to transaction pursuant to which Mr. Matin Pledge 2,000,000 share of his stock to secure a loan for financing a stock buy back program of Veltex Corporation. Veltex announced late last year a share Repurchase program Mr. Matin alleges that the share were improperly sold during the month of March of this year in violation of the loan agreement and has sought to rescind the transaction. The defendants contend that the shares were transacted pursuant to the term and conditions of loan agreement and that Mr. Matin is in breach of his obligations under the agreement to repay his loan. In Prior proceeding on May 29 2007, by agreement the defendants were ordered by the court to repurchase 2,000,000 shares, in the open market by June 29, 2007. However the defendant revealed that they were able to purchase only 116,000 share because of market conditions, Mr. Matin has requested that Dafcan and one equity, and their principals, be held in contempt. The Defendants contend there was no contempt of the agreed order. The hearing is July 31, 2007 in Columbus, Ohio. The pleading in the case can be seen on http://www.uscourts.gov/ or by access through the PACER service center at case No. C2-07-A52 United States District Court for the Southern District of Ohio: Javeed Matin Vs Dafcan Finance et al. Veltex is not a part in the litigation. DATASOURCE: Veltex Corporation CONTACT: Veltex Corporation, +1-909-595-1977, Web site: http://www.veltexcorp.com/

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