VELTEX CORP - VLXC STOCK NEWS

Veltex (OTCQB: VLXC) has announced its 38th Annual Meeting of Shareholders, scheduled for December 04, 2024, at the Mount Hope Campus of Veltex Recovery Group in West Virginia. The meeting will begin at 10:00 a.m. Local Time. Shareholders of record as of November 11, 2024, are eligible to attend and must present valid photo identification and proof of share ownership.

Proxy materials will be available to shareholders around November 20, 2024. The meeting will prohibit electronic devices to protect patient privacy. Shareholders must submit voting instructions by November 27, 2024, if shares are held under Employee Savings Plans.

Veltex (OTCQB: VLXC), a Health and Wellness Acquisition Firm, announces that its subsidiary, Veltex Recovery Group (VRG), has received approval to operate 64 licensed residential treatment beds at its facility in Mount Hope, WV. VRG is also seeking approval to expand to 250 beds. The facility has dedicated four beds for detox treatment, which began on June 10, 2024, with services priced at $425 per day for up to 10 days. VRG has become cash-flow positive, with reimbursement received from various Medicaid MCOs, totaling $264,589.36 in the last 60 days. Additionally, VRG has signed a contract with Highmark Blue Cross Blue Shield, effective July 1, 2024. The company faced and resolved delays in claim processing due to a cyber attack and internal billing issues. Veltex is also pursuing litigation against Armor Revenue Cycle Management for breach of contract and fraudulent misrepresentation. Furthermore, Veltex Properties has secured a five-month option to purchase additional land for expansion.

Veltex Corporation (OTCQB: VLXC) Announces 37th Annual Meeting of Shareholders on December 12, 2023, at Mount Hope Campus. Shareholders must present valid picture identification and proof of ownership of Veltex Corporation common shares to attend the meeting. Cameras and electronic devices are not permitted. Proxy materials can be received via the internet to vote on items at the meeting.

Veltex Corporation (OTCQB:VLXC) announced that its subsidiary, Veltex Recovery Group (VRG), has received approval to provide in-patient residential treatment at its facility in Mount Hope, West Virginia, starting November 28, 2022. The center will feature 28 licensed beds, primarily for women, addressing the critical need for substance use disorder (SUD) treatment in the region. Initial revenue is projected at $425 per day per resident, with plans for phased expansion to accommodate up to 500 residents. VRG has also partnered with various health services to enhance treatment offerings.

Veltex Corporation (OTCQB: VLXC) will hold its 36th Annual Meeting of Shareholders on December 20, 2022, at 10:00 a.m. local time at the Mount Hope Campus. Only shareholders of record can attend and must present valid identification and proof of ownership to gain entry. Proxy materials will be made available on or about November 10, 2022, with voting available for shareholders by mail, in person, or online. Any shareholder owning common stock as of November 1, 2022, is eligible to vote. For inquiries, contact Shareholder Services.

Veltex Corporation (OTCQB: VLXC) announced the recovery of 900,000 common shares valued at $450,000 and $1,681.62 in cash from Federal litigation in California. This recovery, linked to a previous fraudulent conveyance case against former management, follows a final judgment of over $100 million in favor of Veltex. The company intends to enforce all legal matters and keep shareholders informed about tax and legal developments. Veltex, incorporated in 1987, operates through its subsidiaries Veltex Properties, Inc. and Veltex Medical, Inc.

Veltex Corporation (OTCQB:VLXC) announced its uplisting from the OTC Pink Market to the OTCQB® Venture Market, effective July 25, 2022. This transition aims to enhance trading liquidity and market visibility for the company, which focuses on health and wellness acquisitions, particularly in substance use disorder (SUD) treatment. Veltex operates an outpatient SUD facility in Mount Hope, WV, with plans for inpatient services. The uplisting is expected to broaden the investor base and offer improved compliance standards, contributing to the company's strategic goals in the healthcare sector.