Stelax Industries Ltd. (STAX.PK)

Stelax Industries, Ltd. does not have significant operations. Prior to March 2002, it was engaged in producing Nuovinox, a carbon steel product cladded with stainless steel; and Stelablast, a steel abrasive product. The company was incorporated in 1987 as Zfax Image Corp. and changed its name to Stelax Industries, Ltd. in 1996. Stelax Industries is based in Dallas, Texas.

For the fiscal year ended 31 March 2006, Stelax Industries Ltd. reported no revenues. The Company's net loss for the period decreased 18% to $99K. Revenues reflect the absence of operations from the Company's UK Subsidiary, the only operating entity being transferred to a receiver. Lower loss reflects a decrease in selling, general and administrative expense and reduced interest expense.