This is topic MOTG - Modern Technology Corp 300% increase in revenue growth in forum Micro Penny Stocks, Penny Stocks $0.10 & Under at Allstocks.com's Bulletin Board.
Modern Technology Corp. Estimates 300% Revenue Growth Over Same Period Compared to Prior Year
20 March 2006, 3:06pm ET
Modern Technology Corp (OTC BB: MOTG), a diversified technology development and acquisition company, announced today it estimates revenues for the three-months ending March 31, 2006 to be approximately $4,620,000, or an approximate 300% increase over the same period last year which reported revenues of $1,547,793 for the three months ending March 31, 2005.
Anthony Welch, Modern Technology Corp's Chairman, said, "As we have committed, we deliver. Our model of continuous growth brings us closer to true economies of scale and higher earnings potential for 2006. We are poised for impressive results even without further acquisitions. Fortunately, we have acquisitions under consideration now, that if completed, will place us above $65,000,000 for 2006."
About Modern Technology Corp
Modern Technology Corp, a diversified technology development and acquisition company, builds revenues through continuous growth, strategic acquisitions, and commercialization of nascent technology. MOTG improves operating efficiencies through the elimination of cost redundancies and realized synergy between subsidiaries. MOTG also commercializes new technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to build shareholder value through a model of continuous growth. Web Address: http://www.moderntechnologycorp.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Modern Technology Corp 1420 North Lamar Blvd. Oxford, MS 38655 USA Phone: +1.662.236.5928 Fax: +1.662.236.7663 Web: www.moderntechnologycorp.com Posted by Stocktrader20 on :
MOTG DD page-
Modern Technology Corp. Founded 1982 Began trading publicly July 2004 CEO: Anthony K. Welch
MOTG is a technology acquisition and development company which builds revenue through acquiring companies, developing their products and services, and reducing costs by interlinking subsidiaries products and services.
Audited Revenues for the 6 months ended December 31, 2005: $3,120,624 Pro Forma Revenues 2006: $65,000,000 Audited Assets ending December 31, 2005: $9,679,117
Portfolio
MOTG owns 51% of Sound City, a high-end consumer electronics company. Sound City is rapidly expanding its footprint in the NY/NJ area and has opened 2 new stores in the last 6 months. Watch for news on this important MOTG-owned company as they are constantly announcing new contracts and product lines. The last Sound City contract was with T.G.I.Fridays for the installation of flatscreen televisions in 18 of their NY/NJ area restaurants.
H-Net is the most promising of MOTG’s acquisitions this year. H-net produces software used by virtually every major eyecare company in the US. Lenscrafters, Pearle Vision, Wal-Mart, and Macy’s eyecare centers are a few of the companies using the H-net technology. As part of its technology development initiative MOTG is working to introduce H-net to the medical industry and may be working on introducing it to the insurance industry as well. H-net is expected to produce revenue for MOTG in late 2006. It has been hinted at by CEO Welch that the H-net company may be a future spin-off with free shares going to MOTG stockholders. Watch for news of future H-net contracts as Welch pushes this technology into parallel industries.
MOTG acquired 51% of INmarketing Group late in calendar 2005. INmarketing is an online employee incentive and reward program with an impressive client base including Sharp Electronics, Nicklaus Golf Equipment, Waldbaums, A&P Supermarket, Bayer Diagnostics, Snapple Beverages, and, recently announced, St. Paul Travelers. INmarketing’s audited revenues for 2005 were $13.5m. INmarketing Group recently announced record revenue totals for the month of February. MOTG will report INmarketing’s revenues for the first time this May. Stay tuned for future contract announcements and revenue increases for INmarketing Group.
It may also be of interest to shareholders that MOTG CEO Anthony Welch is also the chairman of Energy Vision, Int’l, which MOTG also holds a $1.5 convertible note in. Energy Vision International, formerly DeMarco Systems, trades on the pinksheets under ticker symbol EGVI. Energy Vision Int’l owns an exclusive patent in providing heating and air conditioning through the thermal properties of managed water.
Welch has maintained several goals for his company Modern Technology Corp in 2006. Among these goals are being listed on a national exchange. This would bring MOTG off the bulletin board and onto the tech-heavy Nasdaq or American Stock Exchange.
Welch has also been speaking of "big" acquisition under consideration which would put revenues for MOTG close to $65m annually. While Welch is unable to comment on such a manuever or who the target of such an acquisition might be, message board talk has focused around the company Harvey Electronics. Harvey, currently listed on the Nasdaq under ticker symbol HRVE, has received repeated delisting notices from the Nasdaq for failure to maintain the minimum required $1.00/share price for listing. Seeing the unenviable financial state of HRVE, seeing the obvious ties between Harvey Electronics and MOTG subsidiary Sound City Electronics, noting that both Harvey and Sound City are located in the NY/NJ area, and noting that the two companies at one time shared an employee it is not too hard to discern that HRVE might be the target of MOTG’s acquisition. This is only a rumor however and has not been confirmed by management.
MOTG is approaching its 52 week low despite its highest assets and revenues since listing on the OTCBB. The revenues, though familiar to MOTG shareholders, have not yet been seen by the market. The quarter ending March 31, 2006 will reflect the increased revenues of MOTG’s acquisitions for the first time in a 10-QSB.
DD page courtesy of aldeberon
Posted by Stocktrader20 on :
Modern Technology Corp Revises Revenue Guidance Upward for 2006 With $65,000,000 Target
7 February 2006, 2:29pm ET
Modern Technology Corp (OTC BB: MOTG), a diversified technology development and acquisition company, revised its revenue goal upward and expects to achieve $65,000,000 in annualized revenues for calendar year-end 2006. The company's revenue projections in the absence of any further acquisitions is $25,000,000 for 2006. The company has acquisitions under review now, that if completed, will bring 2006 revenues above $65,000,000.
Anthony Welch, Modern Technology Corp's Chairman, said, "For the last 12 months, we have consistently demonstrated our ability to deliver results. Our revenues and operational results grow every week and demonstrate our continuous growth model at work. Should we complete the acquisitions in our current pipeline, our revenues for 2006 will easily exceed $65,000,000. We release this guidance today to acknowledge our stockholders' need to be informed on a regular basis. We will release our earnings guidance soon. We are working on operational efficiencies and cost-reductions across all business units. Stockholders should ready themselves for a bracing 2006 and continued impressive results."
About Modern Technology Corp
Modern Technology Corp, a diversified technology development and acquisition company, builds revenues through continuous growth, strategic acquisitions, and commercialization of nascent technology. MOTG improves operating efficiencies through the elimination of cost redundancies and realized synergy between subsidiaries. MOTG also commercializes new technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to build shareholder value through a model of continuous growth. Web Address: http://www.moderntechnologycorp.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Company Contact: Megan Peterson 1.662.236.5928
Posted by Ragedbull777 on :
I'm glad we started a new thread. It surely cannot hurt. Maybe we'll have a more positive karma now. I hope the Q is at least filed on time. Let go AW. Posted by Aldeberon on :
For any new investors, MOTG is about to release its biggest quarterly in it's history on the OTCBB. To make matters even more enticing, the stock is almost at its 52 week low.
1 year:
3 months: Posted by Stocktrader20 on :
I believe the quarter filing will be filed 45 days after March 31st. I expect to see MOTG steadily rise as we get closer to filing in mid-May. Investors are going to jump on this with MOTG's 300% revenue increase when we get the official numbers in the filing in mid-May. Its ridiculous MOTG is trading in the mid .02s, A lot of upside potential from here, should easily reach .08 or so with the acquisition news and maybe as high as .15-.20. Ive been buying the past couple of weeks and have acquired 400k shares of MOTG averaged at .02474 Hopefully we will see a PR here soon to maintain the pps for the time being. GLTY
Posted by binsleep on :
Stocktrader: Very nice average, I'm jealous.
Nice work everyone.
Third quarter results may be the pay day a lot of us have been waiting for (or at least the chance to break even).
For the long term, if the merger which Welch has been working on becomes a reality, the upside could be well worth the risk. A lot of us have held on to MOTG since the middle of last year and are very anxious to finally see good results. So far, Anthony Welch has given us everything as promised (albeit a tad late). Once we start an upturn, the convertible debt shouldn't be as much of a factor as it has been in the past. Only time will tell.
Posted by Katrina7 on :
Hey GUYS
NEWS OUT MO)TG TO BUY HRVE
POST IN A MINUTE!
Posted by Katrina7 on :
Modern Technology Corp Initiates Tender Offer to Acquire Harvey Electronics Monday April 3, 3:38 pm ET
OXFORD, MS--(MARKET WIRE)--Apr 3, 2006 -- Modern Technology Corp (OTC BB:MOTG.OB - News) a diversified technology development and acquisition company announced today the formal commencement of a Tender Offer to stockholders of Harvey Electronics pursuant to Regulation 14D of the Securities and Exchange Act of 1934, as Amended. A "SCHEDULE TO" Tender Offer Statement Pursuant to Section 14(d)(1) or 13(e)(1) of the Securities Exchange Act of 1934 will be timely filed with the Securities and Exchange Commission subsequent to this announcement.
ADVERTISEMENT The summary of the offer's terms and some answers to common questions appear below.
Anthony Welch, Modern Technology Corp's Chairman said, "We feel this to be an outstanding offer to current Harvey Electronics stockholders. Not only does this offer provide a superb cash distribution and excellent premium above market price, but it also provides an equity position in the new larger organization. Stockholders of Harvey will continue as stockholders of a new and more powerful combined organization, with far greater market liquidity, a fantastic vision, a model of continuous growth, and expecting to generate a profitable $65,000,000 in revenue for 2006. We welcome the stockholders of Harvey Electronics to our bold vision for the future."
Modern Technology Corp is offering to purchase 51% of the outstanding shares of common stock of Harvey Electronics, Inc. (NasdaqSC:HRVE - News) for $1.15 per share, upon the terms and subject to the conditions set forth in this Offer to Purchase. The following are some of the questions stockholders may have and answers to those questions.
Who is offering to buy my securities?
Our name is Modern Technology Corp. We are a Nevada corporation formed in 1982. We are a diversified technology development and acquisition company, building revenues through continuous growth, strategic acquisitions, and commercialization of nascent technology. MOTG improves operating efficiencies through the elimination of cost redundancies and realized synergy between subsidiaries. MOTG also commercializes new technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to build shareholder value through a model of continuous growth. Web Address: http://www.moderntechnologycorp.com.
What securities are you offering to purchase?
We are offering to purchase 51% of the outstanding common stock of Harvey Electronics, Inc. We refer to one share of Harvey Electronics, Inc. common stock as a "share" or "Share." No shares will be purchased if less than 51% are Tendered. No shares will be purchased beyond the first 51% tendered.
How much are you offering to pay for my securities and what is the form of payment?
We are offering to pay you $1.15 per share in cash and stock without brokerage fees, commissions or, except in certain circumstances, transfer taxes. The offer consists of $0.80 per share paid in cash upon expiration of this Offer, and $0.35 in Convertible Warrants per share payable at the expiration of this Offer.
The Warrant holder shall have the right to exchange his Warrant, at any time, for Common Stock in Modern Technology Corp and the Warrant holder will be guaranteed a number of shares of Modern Technology Common Stock worth no less than $0.35 at the time of Conversion. If the Market Price of Modern Technology Corp is above $0.35, the Warrant holder shall be entitled to one share of Modern Technology Corp Common Stock. The Warrant holder is under no obligation to sell the Common Stock he receives under exercising his Conversion privilege. Modern Technology Corp believes this provides the Warrant holder the ability to participate in the anticipated growth of Modern Technology Corp while at the same time, providing the ability to redeem his warrant for marketable securities at a guaranteed minimum.
Do you have the financial resources to pay for the shares?
We will need approximately $1,500,000 to fund the initial cash portion of the offer for all shares and to pay related fees and expenses. As of April 3rd, 2006, we have secured a commitment from our investors to provide $1,500,000 in cash to support this Offer. The equity portion of the Offer will be issued to all stockholders of Harvey Electronics who have tendered their shares. This equity distribution will be authorized and effected pursuant to a Board Resolution of the Board of Directors of Modern Technology Corp upon completion of the Tender Offer process.
Is your financial condition relevant to my decision to tender in the offer?
Because the form of payment consists of cash and securities with guaranteed minimums, and is not conditioned upon any financing arrangements other than from our investors, we do not think our financial condition is material to your decision whether to tender in the offer. However, you may view our most recent quarterly and annual financial information by visiting our filings with the U.S. Securities and Exchange Commission at www.sec.gov.
What does the Board of Directors of Harvey Electronics, Inc. think of the offer?
Harvey Electronics Inc.'s Board of Directors has not approved this offer or otherwise commented on it as of the date of this Offer to Purchase. Within 10 business days after the date of this Offer to Purchase, Harvey Electronics, Inc., is required by law to publish, send or give to you (and file with the Securities and Exchange Commission) a statement as to whether it recommends acceptance or rejection of the offer, that it has no opinion with respect to the offer or that it is unable to take a position with respect to the offer.
How long do I have to decide whether to tender in the offer and how does the offer expire?
You have until the expiration date of the offer to tender. The offer currently is scheduled to expire at 12:00 midnight, New York City time, on Monday, May 1, 2006. We do not intend to extend the expiration date of the offer at the present time. If the offer is extended, we will issue a press release announcing the extension at or before 9:00 A.M. New York City time on the next business day after the date the offer was scheduled to expire.
We may elect to provide a "subsequent offering period" for the offer. A subsequent offering period, if one is included, will be an additional period of time beginning after we have purchased shares tendered during the offer, during which stockholders may tender, but not withdraw, their shares and receive the offer consideration. We do not currently intend to include a subsequent offering period, although we reserve the right to do so.
The Offer will expire upon the first 51% of the common stock of Harvey Electronics being Tendered.
The Offer will expire in the event the Board of Directors of Harvey Electronics and Modern Technology Corp enter into a Definitive Agreement whereby Harvey Electronics and Modern Technology Corp agree, in substantive part, to a plan of acquisition or sale of assets resulting in Modern Technology Corp being the majority or sole owner of the common stock or assets of Harvey Electronics. Stockholders would receive a Proxy to cast their vote on the proposed transaction subsequent to a Definitive Agreement.
What are the most significant conditions to the offer?
The offer is conditioned upon, among other things there being validly tendered and not withdrawn before the expiration of the offer a number of shares representing at least a majority of the total number of shares outstanding on a fully diluted basis.
How will I be notified if the offer is extended?
If we decide to extend the offer, we will inform American Stock Transfer & Trust Company, the depositary for the offer, of that fact and will make a public announcement of the extension, no later than 9:00 A.M., New York City time, on the next business day after the date the offer was scheduled to expire.
How do I tender my shares?
To tender shares, you must deliver the certificates representing your shares, together with a completed Letter of Transmittal and any other required documents, to Registrar and Transfer Company, 10 Commerce Drive, Cranford, New Jersey 07016, Tel: (908) 497-2300 not later than the time the offer expires. If your shares are held in street name by your broker, dealer, bank, trust company or other nominee, such nominee can tender your shares through The Depository Trust Company. If you cannot deliver everything required to make a valid tender to the transfer agent before the expiration of the offer, you may have a limited amount of additional time by having a financial institution (including most banks, savings and loan associations and brokerage houses) that is a member of a recognized Medallion Program approved by The Securities Transfer Association Inc., including the Securities Transfer Agents Medallion Program (STAMP), the Stock Exchange Medallion Program (SEMP) and the New York Stock Exchange, Inc. Medallion Signature Program (MSP), guarantee, pursuant to a Notice of Guaranteed Delivery, that the missing items will be received by the depositary within three Nasdaq National Market trading days. However, the depositary must receive the missing items within that three trading day period.
Until what time can I withdraw tendered shares?
You can withdraw tendered shares at any time until the offer has expired, and, if we have not by May 7, 2006, agreed to accept your shares for payment, you can withdraw them at any time after such time until we accept shares for payment. You may not, however, withdraw shares tendered during a subsequent offering period, if one is included.
How do I withdraw tendered shares?
To withdraw shares, you must deliver a written notice of withdrawal, or a facsimile of one, with the required information to Registrar and Transfer Company while you have the right to withdraw the shares.
When and how will I be paid for my tendered shares?
Subject to the terms and conditions of the offer, we will pay for all validly tendered and not withdrawn shares promptly after the later of the date of expiration of the offer and the satisfaction or any waiver of the conditions to the offer relating to governmental or regulatory approvals. We do, however, reserve the right, in our sole discretion and subject to applicable law, to delay payment for shares until satisfaction of all conditions to the offer relating to governmental or regulatory approvals.
If a majority of the shares are tendered and accepted for payment, will Harvey Electronics, Inc. continue as a public company?
Harvey Electronics, Inc. will continue to be publicly owned. However, if we purchase all the tendered shares, there may be so few remaining stockholders and publicly held shares that the shares will no longer be eligible to be traded on a securities exchange, there may not be a public trading market for the shares, and Harvey Electronics, Inc. may cease making filings with the Securities and Exchange Commission or otherwise cease being required to comply with the SEC rules relating to publicly held companies. In either case, Harvey Electronics will continue its operations as a majority owned subsidiary of Modern Technology Corp.
If I decide not to tender, how will the offer affect my shares?
At the present time we are not offering to purchase any shares beyond 51% of the common stock of Harvey Electronics. We may make such an offer in the future. The remaining 49% of the Common Stock, the number of stockholders and the number of shares that are still in the hands of the public may be so small that there will no longer be an active or liquid public trading market (or, possibly, any public trading market) for shares held by stockholders other than Modern Technology Corp., which may affect prices at which shares trade. Also, as described above, Harvey Electronics, Inc. may cease making filings with the Securities and Exchange Commission or being required to comply with the SEC rules relating to publicly held companies.
What is the market value of my shares as of a recent date?
On March 31 2006, the last full trading day before the announcement of our intention to commence the offer, the last reported sales price of Harvey Electronics, Inc. common stock reported on the Nasdaq National Market was $0.65 per share. Please obtain a recent quotation for your shares prior to deciding whether or not to tender.
What are the federal income tax consequences of participating in the offer?
In general, your sale of shares pursuant to the offer will be a taxable transaction for U.S. federal income tax purposes and may also be a taxable transaction under applicable state, local or foreign income or other tax laws. You should consult your tax advisor about the tax consequences to you of participating in the offer in light of your particular circumstances.
Who can I talk to if I have questions about the offer?
You can call Modern Technology Corp at 1.662.236.5928.
Posted by binsleep on :
Kat,
This better not be a late April Fool's Joke!!!
Posted by Ragedbull777 on :
Finally some news. This would have been a good item to start the thread with. Posted by Stocktrader20 on :
Its running .029x .03
Posted by Ragedbull777 on :
Wow, we're moving up already. 3 x 3.1.
Posted by binsleep on :
GO BABY GO!
Posted by Katrina7 on :
FINALLY The NEWS WE HAVE BEEN WAITING FOR
COMON MOTG!!!!!!!!!!!
Let's celebrate guys!
RALLY MONKEY!
Posted by Ragedbull777 on :
HRVE's really up. 36% as we speak
Posted by binsleep on :
Where the hell is Warped?!?!?!?! Posted by Ragedbull777 on :
Am I dreaming? LT .032.
Posted by Stocktrader20 on :
Im up $2,900 on a two week investment. Posted by Aldeberon on :
Warped isn't here but if he was I'm sure he would say:
Whoever originally called out HRVE as the target.....Kudos
Posted by Aldeberon on :
I think we should start another new thread in the next days when (if) the offer is accepted!
Posted by binsleep on :
Al, Definately! It seems to bring us LUCK!!!!!!! Posted by Aldeberon on :
I forgot that daylight savings was this weekend. AZ doesn't observe it so the market closes an hour earlier today. Closed up 16% on the day - gapper tomorrow!
Posted by NEL on :
Dang! I just sold my shares on March 30th for .027, I got sick of looking at the red numbers. Bought back in December at .06. I only had a few thousand shares so not a huge loss...maybe I should get back in?
Posted by Katrina7 on :
Damn-I wish I woulda held my HRVE shares....oh well. I don't even us insider information to my benefit!
Let's hope that we have a week of GREEN GREEN GREEN.
This is great news guys. I think that many of us feel vindicated in that what we said would happen DID happen. For all those doubters out there.... HAHA.
I guess I shouldn't speak too soon. HRVE people turn in your shares! Let's get this party going!
[ April 03, 2006, 16:31: Message edited by: Katrina7 ]
Posted by Ragedbull777 on :
Congrats to the longs that have held in there for so long. I always felt that we would acquire HRVE and it looks like it will come through. Hopefully this is the beginning of better things to come. What a difference some NEWS makes. Later folks.
RB777
Posted by bobcat88 on :
My glass is now half full, much nicer than being half empty. What do you guys realistically see as a top end for this now?
Posted by binsleep on :
bobcat: In the short-term, it really depends on whether or not the HRVE shareholders accept the offer. If they do, we could see a nice pop. If not, my feelings are that this would still be a long-term hold if you have the patience to stay in it. Fact of the matter is, with every passing quarter, MOTG is bringing in more revenues. It's only a matter of time before they start turning a profit. Regardless of what happens, short or long-term, we are severly undervalued (and have been for a LONG time) IMO. I'm not going to throw out target numbers, because truthfully, I don't think anyone can predict that....supply and demand predicts that.
Posted by Ragedbull777 on :
You just never know how the market may react to the news. We should however see some positive momentum for the next few days off this news. The upcoming Q's will make or break us. JMHO.
RB777
Posted by Aldeberon on :
quote: I'm not going to throw out target numbers, because truthfully, I don't think anyone can predict that....supply and demand predicts that.
and MM's predict that Posted by Aldeberon on :
In all seriousness, looking at history this stock tends to run for two days. Whether or not today counts as the first remains to be seen.
Whether or not it rebounds with a slow steady climb after the initial POP will depend on investors response to the news, and whether or not HRVE shareholders accept the offer.
I predict: mid 4's tomorrow, pullback to .03 in the middle of the week, then a slow climb on anticipation of the buyout. IMO
Posted by binsleep on :
Al, if you're right. I'm going to make some money damnit Posted by Ragedbull777 on :
Does anyone think the new thread helped? LOL
Posted by CMoney on :
I'm so happy, I could cry
C$
Posted by Stocktrader20 on :
Heres what is says on MOTG's website about moving up to a higher exchange-
The Company's goals and objectives are to:
Reach $50+ million in portfolio revenues by the end of 2005 Acquire 5 to 8 new companies across 3 growth sectors by the end of 2005 Apply for a listing on NASDAQ or AMEX during 2006
Hopefully, we'll start to gap as we get closer to the opening here. The PR came out kind of late yesterday, so that should give us the opportunity for a nice run this morning.
In the meantime, if anyone sees ARCA up to his old tricks again, kick him in the jimmy!!! Posted by binsleep on :
Starting to gap already.
.028 x .032
Posted by UTryan on :
speaking of ARCA, there he sits at .031 GRRRRR Where are my steel toed shoes?
Posted by Ragedbull777 on :
Not what I expected. Anyone care to speculate as to why we're not up?
Posted by binsleep on :
RB: Conversions, no doubt.
Posted by CMoney on :
I agree. Since AW was asked to hold up on conversions in January, everything following has been a bunch of conversions. With the added 1.5mil in loans and us hanging around the 52wk low, the investors have probably been given the green light. If I was an investor and I had conversion to do, now would definately be THE TIME, esp. if I hadn't already converted before. The people who convert now, will get the biggest run ever; from 52 wk low -------> to, hopefully, the 52wk high!
C$
Posted by Stocktrader20 on :
Im not worried, the real money will be made when the acquisition becomes official along with the Q filing next month IMO.
Posted by CMoney on :
well, maybe not that high, but atleast .07 or .08.
All I know is, if we ever see a run like ST TK is having, I'll be set for a while.
C$
Posted by Katrina7 on :
Guys we are not up because of HRVE. Here is the latest Harvey Electronics, Inc. Responds to Modern Technology Corp. Press Release Regarding Tender Offer Tuesday April 4, 9:51 am ET
LYNDHURST, N.J.--(BUSINESS WIRE)--April 4, 2006--Harvey Electronics, Inc. ("Harvey Electronics", "Harvey" or the "Company"; NASDAQ Capital Market symbol: "HRVE") announced today that it has become aware of a press release from Modern Technology Corp. ("Modern Technology", "MOTG", BB: MOTG.OB) in connection with a proposed tender offer to stockholders of Harvey Electronics pursuant to Regulation 14D of the Securities and Exchange Act of 1934, as amended. Harvey suggests that stockholders take no action in response to the announcement by Modern Technology until such time as more information is available. Harvey's Board of Directors will respond when additional information regarding the MOTG offer is provided.
ADVERTISEMENT Michael E. Recca, Chairman of Harvey Electronics, stated, "We appreciate the announcement from Modern Technology Corp. regarding the proposed tender offer to Harvey stockholders. While no Board decision will be made in response to this initial press release, we look forward to reviewing the offer more carefully as we learn more of its specific terms. The Directors of the Company, have consulted and will continue to consult with legal counsel and advisors, and advise stockholders of the Board's position regarding the offer in due course."
Additional Information
Prior to any request for the stockholders of Harvey Electronics to take any action with respect to the Modern Technology proposal, appropriate filings must be made with the Securities and Exchange Commission, (SEC), which filings may include proxy statements, a Schedule TO and/or a Schedule 14D-9. These filings will contain important information about the Modern Technology proposal and Harvey Electronics' position regarding the proposal. You are urged to read them carefully before taking any action or making any decision with respect to the proposal. You will be able to obtain the documents when they become available free of charge at the website maintained by the SEC at www.sec.gov.
About Harvey Electronics, Inc.
Harvey Electronics is a leading retailer and custom installer of high quality, exclusive home theater, audio and video products in the metropolitan New York area. The Company currently operates a total of nine locations; eight Harvey showrooms and one separate Bang & Olufsen branded store. There are two Harvey locations in Manhattan and six suburban locations in Paramus, New Jersey; Mt. Kisco, in Westchester; Greenwich, Connecticut; Greenvale/Roslyn, on the north shore of Long Island, in Eatontown, New Jersey and our newest store in Bridgewater, New Jersey. The Bang & Olufsen branded store is located in Union Square on 927 Broadway at 21st Street, in Manhattan.
The Company also has a Bang & Olufsen showroom within our Harvey retail store in Greenwich, Connecticut.
Audio Video International, a well-respected trade publication, has named Harvey Electronics a national "Top Ten Retailer of the Year", seven years in a row.
Please visit a Harvey store or one of our Bang & Olufsen showrooms. Also, please inquire about Harvey's custom installation services.
From time to time, information provided by the Company, statements made by its employees or information, included in its filings with the Securities and Exchange Commission may contain statements, which are so-called "forward-looking statements" and not historical facts. Forward-looking statements can be identified by the use of words such as "believe", "expect", "intend", "anticipate", "in my opinion", and similar words or variations. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company's actual future results may differ significantly from those stated in any forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, including, but not limited to, product demand, pricing, market acceptance, litigation, risks in product and technology development and other risk factors detailed in the Company's Prospectus dated March 31, 1998 and from time to time in the Company's Securities and Exchange Commission reports including its Form 10-K and Forms 10-Q.
Posted by Katrina7 on :
HRVE hasn't backed the deal yet. Over the wires it says for HRVE shareholders to take no action.
Posted by CMoney on :
they'll probably send anopther PR, with the further info that'll reverse their decision.
Posted by Stocktrader20 on :
I put a buy order in for .025, the bid went up to .026 right after that.
Posted by DWS on :
Ask at .03.... moving back up hopefully...
Posted by Katrina7 on :
stocktrader--I believe you and me started that run. LOL. We shoulda coordinated better!!!
I put mine in at .026 and they immediately moved up. Had to chase up a little to .027, but still a great value.
The mms aren't given up a ton of shares down here, and I think ARCA might even be a bluff. We should be back to the fours shortly.
Kat
Posted by Katrina7 on :
stock trader: are you ********* from raging bull or previously trade04 from here?
Posted by Katrina7 on :
that was weird they deleted s t o c k s t e r
Posted by UTryan on :
Now SBSH is on the ask at .029 with a block of 300.....hmmmmmm....
Posted by emich25 on :
Kat, you have talked with anthony did you think it would go down like this?....I don't think this deal gets done. .80 cents cash is less than what the stock is now. and warrants to make up the .35cents...it all seems interesting....if it is approved now doubt that motg won't be at 3 cent company. should be interesting to see good luck to you guys..you should should know in a month
Posted by Katrina7 on :
and ARCA on the bid at .026 with a huge order.
Posted by Stocktrader20 on :
quote:Originally posted by Katrina7: stock trader: are you ********* from raging bull or previously trade04 from here?
Katrina, No Im not but im on several stock boards though, under the same name as iam on allstocks.
Posted by UTryan on :
What will ARCA being on the bid do for us? (I'm still pretty new to this) Is that a good thing?
Posted by Katrina7 on :
emich-I suspected this was the route he was taking based on the irregular trading HRVE has seen over the past few months. No volume, and then 1 mil volume and then everything back to normal. It seemed someone was accumulating, and I was hoping it was MOTG.
HRVE's OS is only 3.51 mil, and the float is 3.2 mil. I am hoping that MOTG has already collected a million of that. Although based on motgs' pr of the funding to complete the deal of 1.5 mil, I dont' know. I would think they would not need that much cash to finish the job. Perhaps a third party already bought for them and is going to make some coin when they hand over their controlling shares.
HRVE was trading at .60 and going down when the deal was announced. It was imminent they were going to get delisted, so I see this a a great possibility. There was no way HRVE was gonna start trading over a dollar in the next two months, I believe they only have til June to get their PPS up to stay listed.
I emailed AW to see what he thought about their likelihood of success. I believe he has already told another investor that it was going to happen no matter what.
It's all a matter of time.
Posted by Katrina7 on :
RYAN: Yes, it's a good thing. We want the bid stacked with larger orders, usually helps motivate people to buy.
Posted by Stocktrader20 on :
Harvey Electronics stock up 37 percent on Miss. company's takeover bid
Apr 04, 2006 (The Record - Knight Ridder/Tribune Business News via COMTEX) -- The stock price of Harvey Electronics Inc. soared Monday after a Mississippi-based corporation announced it wants to buy a majority stake in the Lyndhurst-based home electronics company.
Modern Technology Corp. announced the takeover bid shortly before the market closed Monday. Modern is a technology acquisition firm with a portfolio that includes Sound City, a small New Jersey-based company that, like Harvey Electronics, specializes in custom television and home theater installations.
Harvey Electronics has eight retail stores in the metropolitan area and also operates two Bang & Olufsen stores.
Modern Technology said it wants to purchase 51 percent of the outstanding shares of Harvey stock for cash and Modern Technology equity worth $1.15 a share. That offer represents a significant premium on Harvey's opening price Monday of 64 cents. Harvey's stock closed Monday at 89 cents, up 37 percent for the day.
The offer would give Harvey shareholders 80 cents per share and 35 cents worth of convertible warrants that can be exchanged for Modern Technologies stock.
Harvey Chief Executive Officer Franklin Karp and Modern Technologies executives did not respond to requests for interviews Monday.
Posted by Katrina7 on :
Hey guys,
Just heard back from AW. He said HRVE wasn't hostile to the acquisition, and that he believes that the hrve stockholders will want to take this opportunity, and that the board may offer something else in the meantime.
He was very controlled in his email, so I think he is being very careful about what he is saying right now. Legally, he needs to be.
I read the HRVE bulletin board on Yahoo, and there is a mixed response. The problem here is that they see motg trading at .03, so really, all they can count on for their stock at the present time is .83. Until MOTG moves up, which I thought would happen today, it's not that enticing.
Posted by Aldeberon on :
Good morning. We hit .04 like I called I see Posted by Aldeberon on :
Updated MOTG DD page for 4/04/06
Modern Technology Corp. Founded 1982 Began trading publicly July 2004 CEO: Anthony K. Welch
MOTG is a technology acquisition and development company which builds revenue through acquiring companies, developing their products and services, and reducing costs by interlinking subsidiaries products and services.
Audited Revenues for the 6 months ended December 31, 2005: $3,120,624 Pro Forma Revenues 2006: $65,000,000 Audited Assets ending December 31, 2005: $9,679,117
Authorized Shares: 150,000,000 Outstanding shares: est. 70 million Float: est. 55m
Portfolio
MOTG owns 51% of Sound City, a high-end consumer electronics company. Sound City is rapidly expanding its footprint in the NY/NJ area and has opened 2 new stores in the last 6 months. Watch for news on this important MOTG-owned company as they are constantly announcing new contracts and product lines. The last Sound City contract was with T.G.I.Fridays for the installation of flatscreen televisions in 18 of their NY/NJ area restaurants.
H-Net is the most promising of MOTG’s acquisitions this year. H-net produces software used by virtually every major eyecare company in the US. Lenscrafters, Pearle Vision, Wal-Mart, and Macy’s eyecare centers are a few of the companies using the H-net technology. As part of its technology development initiative MOTG is working to introduce H-net to the medical industry and may be working on introducing it to the insurance industry as well. H-net is expected to produce revenue for MOTG in late 2006. It has been hinted at by CEO Welch that the H-net company may be a future spin-off with free shares going to MOTG stockholders. Watch for news of future H-net contracts as Welch pushes this technology into parallel industries.
MOTG acquired 51% of INmarketing Group late in calendar 2005. INmarketing is an online employee incentive and reward program with an impressive client base including Sharp Electronics, Nicklaus Golf Equipment, Waldbaums, A&P Supermarket, Bayer Diagnostics, Snapple Beverages, and, recently announced, St. Paul Travelers. INmarketing’s audited revenues for 2005 were $13.5m. INmarketing Group recently announced record revenue totals for the month of February. MOTG will report INmarketing’s revenues for the first time this May. Stay tuned for future contract announcements and revenue increases for INmarketing Group.
It may also be of interest to shareholders that MOTG CEO Anthony Welch is also the chairman of Energy Vision, Int’l, which MOTG also holds a $1.5 convertible note in. Energy Vision International, formerly DeMarco Systems, trades on the pinksheets under ticker symbol EGVI. Energy Vision Int’l owns an exclusive patent in providing heating and air conditioning through the thermal properties of managed water.
Welch has maintained several goals for his company Modern Technology Corp in 2006. Among these goals are being listed on a national exchange. This would bring MOTG off the bulletin board and onto the tech-heavy Nasdaq or American Stock Exchange.
UPDATE: On April 3, 2006 Anthony Welch announced that MOTG has made a tender offer to purchase 51% of Harvey Electronics from its shareholders. The deal would pay HRVE shareholders .80 per share and give them an additional .35 in MOTG convertible shares. This acquisition, long rumored to be in the works, would put revenues for MOTG at $65 million/year. The shareholders of Harvey Electronics have 30 days to respond to Welch’s buyout offer, despite Harvey’s management’s refusal so far to back the offer. It is rumored that Welch intends to buy out HRVE with or without shareholder and management approval. Harvey’s O/S is 3.5m and it is also rumored that Welch or his investors have already acquired $1.5m in HRVE stock. Stay tuned for important updates as this new development unfolds.
Very good post Aldeberon for the potential investors. Thanks
Posted by Aldeberon on :
Hey, just cuz I'm not making money here doesn't mean that other people can't Posted by Aldeberon on :
Move Over Tightwads Green is on the way!
Posted by binsleep on :
I guess my sell order * .05 today was a little aggressive, huh?
No matter, things are shaping up very nicely for MOTG. I'm just happy that the excitement is back in this stock Posted by Aldeberon on :
quote:Originally posted by binsleep: I guess my sell order * .05 today was a little aggressive, huh?
Never hurts to aim high Bin
Once the big investors catch wind of this, it will start to go up. Remember that any news about HRVE gets sent out on the Nasdaq circuit. When midcap investors catch wind of a tiny company on the OTCBB making a buyout offer on HRVE, they're going to bring their big bucks here, imo.
Smart money always waits for the dust to settle before investing.
Posted by binsleep on :
Get yer marshmallow sticks ready folks!
We're going to have ourselves a bonfire!
Posted by Ragedbull777 on :
quote:Originally posted by Aldeberon: Move Over Tightwads Green is on the way!
Good one Aldeberon!
Posted by Stocktrader20 on :
Harvey Electronics Mulls Tender Offer Tuesday April 4, 12:06 pm ET Harvey Electronics Tells Shareholders to Delay Acting on Modern Technology Tender Offer
LYNDHURST, N.J. (AP) -- Home theater products retailer Harvey Electronics Inc. on Tuesday told shareholders to delay acting on a tender offer for the company's shares issued Monday by Modern Technology Corp. until more information is available.
Modern Technology Corp., a technology development and acquisition company, has offered to pay $1.15 per share in cash and convertible warrants for 51 percent of Harvey's outstanding shares. That represents a 29.2 percent premium over Harvey's Monday closing price of 89 cents per share.
Harvey Electronics had 3.5 million outstanding shares as of Jan. 28, according to a recent filing with the Securities and Exchange Commission. Modern Technology's offer values 51 percent of those shares at about $2.1 million combined.
Harvey said the board will advise shareholders of its position and respond to the offer when it receives additional information from Modern Technology. The offer is set to expire May 1.
Modern Technology said it won't purchase any Harvey shares at all if less than 51 percent are tendered. The offer consists of 80 cents a share in cash, and 35 cents a share in convertible warrants, which give the holder the right to buy Modern stock at a set price.
Modern Technology said it secured investor commitment for $1.5 million cash to support the offer. The amount the company says it will need to fund the initial cash portion of the offer and related fees and expenses.
Shares of Harvey Electronics fell 12 cents, or 13.5 percent, to 77 cents in morning trading on the Nasdaq. The stock has traded between 54 cents and $1.59 over the past year.
Posted by Stocktrader20 on :
Atleast now we know HRVE is serously considering MOTG's offer.
Posted by Ragedbull777 on :
I think that the only thing that will really move us up are some strong Q's. We need to demonstrate growth and profitability to get new investors. This I feel is what will definitely send us to higher share prices. In due time, in due time. Patience is what we need. JMHO.
Posted by osubucks30 on :
This is YET ANOTHER RED FLAG!! IF you want to lose money keep buying MOTG!!!
Posted by binsleep on :
osubucks30: Chicken Little?
Posted by Aldeberon on :
Sounds like osubucks wants to get some MOTG before it runs Posted by Ragedbull777 on :
quote:Originally posted by osubucks30: This is YET ANOTHER RED FLAG!! IF you want to lose money keep buying MOTG!!!
Bashers are coming back. This is a good sign. We will make a run soon. Thanks osu!
Posted by binsleep on :
I posted an angry response on the Yahoo HRVE board this morning. It made me realize how pacifistic I am. Posted by Katrina7 on :
Hey guys,
Hoping we get the green light from HRVE soon. These prices are ridiculous.
OSU is a basher, maybe paid, who has come over from RB. We welcome anyone who has something constructive to say, backed with information and research, but we don't welcome bashers here. So go back to RB and fight with those fellas.
I really like having doms on the bid, he tends to put those who have been shorting straight.
Entry into a Material Definitive Agreement, Creation of a Direct Financial
Item 1.01 Entry into a Material Definitive Agreement On March 27, 2006, the Company entered into a Securities Purchase Agreement with AJW Partners, LLC, AJW Offshore, LTD., AJW Qualified Partners, LLC., and New Millennium Capital Partners, LLC. (collectively Buyers). Under the terms of the Securities Purchase Agreement, Buyers purchased 6% Convertible Secured Notes in the aggregate amount of $350,000, and Warrants to purchase shares of common stock. Please see Items 2.03 and 3.02 for more details on this transaction.
In conjunction with the Securities Purchase Agreement, the Company entered into an Intellectual Property Security Agreement and a Security Agreement, both dated March 27, 2006. The terms of these agreements, respectively, grant first priority to Buyers for intellectual property rights and security rights to property of the Company. Company entered into these agreements to guarantee payment under the terms of the Convertible Notes.
Section 2 - Financial Information
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. On March 27, 2006, the Company, pursuant to a Securities Purchase Agreement of the same date, entered into Callable Secured Convertible Notes. Under the terms of the notes, the Company borrowed an aggregate of $350,000.00 from the Holders of the Notes. The Notes each bear a Maturity Date of March 27, 2009, with interest accruing on any unpaid principal at 6% per annum from the date the Notes were issued, until due and payable on the Maturity Date. Any unpaid amounts after that date bear an interest of 15% per annum. Interest is payable quarterly and shall commence at June 30, 2006. Holder has the right to convert any amounts due to Common Stock, at its discretion, at the conversion price, as set forth under the terms of the Notes. Following is a table showing the holders and amount of each Note.
HOLDER AMOUNT OF NOTE AJW Offshore, LTD $213,500 AJW Partners, LLC $38,500 AJW Qualified Partners, LLC $94,500 New Millennium Capital Partners, LLC $3,500
Section 3 - Securities and Trading Markets
Item 3.02 Unregistered Sales of Equity Securities On March 27, 2006, the Company entered into a Securities Purchase Agreement with the parties referenced in Item 2.03 above (Buyers). Under the terms of the Securities Purchase Agreement, the Buyers collectively purchased 6% Convertible Securities Notes in the aggregate amount of $350,000.00, convertible into common stock at the option of the Buyers, and Warrants to purchase shares of the Company's common stock. There were no underwriting fees or commissions paid in connection with this offering. Notes and Warrants were sold pursuant to Rule 505, Regulation D of the Securities Act of 1933. Securities purchased are convertible into shares of Common Stock pursuant to the terms set forth in the Callable Secured Convertible Note (attached hereto as an exhibit) and the Stock Purchase Warrant (attached hereto as an exhibit). Securities purchased hereunder are also provided Registration Rights, as set forth in the Registration Rights Agreement dated March 27, 2006, and filed herewith as an exhibit.
Here's the financing. He is not financing the entire amount here. Personally, I think he already purchased the shares on March 7th on the open market. HRVE did 1.25 mil in volume that day and the pps didnt move a lick.
IMO this is a done deal, waiting to hammer out the details and make HRVE shareholders feel good.
Posted by binsleep on :
I thought Welch was going to stay away from convertible debt?
Posted by Katrina7 on :
Hey guys,
Check out this filing. The HRVE board owns about 385,000 shares hrve combined.
The financing from AJW was for $350,000.
Maybe all Welch has to do is buy out the board's shares at this point? It's about the same amount of money.
Yeah, me too Bin. At least he doesn't have to finance the entire thing.
Posted by Katrina7 on :
Nice ARCA on the BiD with a huge order
Posted by Aldeberon on :
Hey guys
Kat and I have been doing some math. Follow along.
First of all, the material event which we all believe to MOTG purchasing shares of HRVE:
Look at the volume spike on March 7. 1.25 million. Volume that size was $#*! times average volume for HRVE. We are speculating that this is the day Welch and MOTG began buying HRVE. Also note the minimal price movement on that date, compared to say April 2. Price per share didn't budge despite massive volume in March but volume half that size in April caused it to run nearly 40%. The fact that the mega-volume on March 7 didn't budge HRVE's pps supports our theory that this was a pre-arranged sale, which may have occured after hours. When corprations buy other corporations, this is what it looks like.
On to the math. If MOTG did indeed buy a massive amount of Harvey on that date, this is how it happened. 1,250,000 x .65 (HRVE's average price that day)= $812,500 So whoever did that buying spent about $800,000 acquiring shares of HRVE.
Remember that HRVE only has an O/S of 3.5 million. So, in order for someone to take a 51% controlling interest in HRVE they would have to own:
51% of 3,500,000 shares = 1,785,000 shares
Let's say that Welch bought those 1.25m shares on March 7.
1,785,000 - 1,250,000 = 535,000 shares left to own 51% of HRVE
So Welch would have about 535,000 shares left to buy if he wanted to own 51% of HRVE. Notice that none of this so far as required him to ask permission of anyone.
535,000 shares x .70 (about HRVE's current share price) = $374,500 required to buy the rest of HRVE.
Today's 8-k details that Welch just borrowed $350,000 from AJW.
Need I say more? We think this thing is done Posted by binsleep on :
Al/Kat,
Your explanation sounds convincing enough to me! Now, let's get the show on the road! Posted by CMoney on :
I sold 45000 yesterday * .028, and was sweating bullets until I got filled this morning with the same amount of scratch with 49350 shares *.025. Now Im trying to get another buy in before EOD.
Now my average just went from .0456 down to .025 with 4000 more shares!
C$
Posted by CMoney on :
Im not going to chase the ask just yet though
Posted by Ragedbull777 on :
Aldeberon,
Very good analysis. Makes a lot of sense. I think one way or another we're gonna acquire Harvey Electronics. They can come willingly or we can just take control. I hope they come on our terms. GLTA
Posted by binsleep on :
The traffic has really picked up on the RB MOTG board since Jag got back on board
Also, I got a cameo over there! Someone posted my Yahoo message....Sweet Posted by Stocktrader20 on :
Nice close at HOD .0278
Posted by Ragedbull777 on :
quote:Originally posted by binsleep: The traffic has really picked up on the RB MOTG board since Jag got back on board
Also, I got a cameo over there! Someone posted my Yahoo message....Sweet
You are referring to "mr momo," right? I don't think it was him, but the news of the potential acquisition. It's what everyone has been waiting for. Now we need to make sure it materializes. After that, some strong Q's and we're off to the races. Sounds easy. If our CEO does his job we can do it. JMHO. GLTA Posted by binsleep on :
RB: Yeah, Mr. Momo. I was only kidding. I am happy to have him around again, though.
Posted by Katrina7 on :
CALLING ALL OLD TIMERS:
WARPED, TECHIE-POO, WHG I know you guys are still lurking out there. Make yourselves known so that we can celebrate when this thing starts running!
I have to admit, we long time holders are VERY JEALOUS of ya'll who are in at these PPS. I want my average to be .025!
Nice close at HOD. I think we are starting to get some attention from NAS traders who realize how undervalued we are.
If I don't post, it's cause I'm at the beach. Ya'll hold down the fort. Good news usually happens when I travel, especially to Malibu.
Kat
Posted by BuyTex on :
hey, Kat--y'all got some good news, eh?
good for you!
Posted by moosehead9nc on :
hopefully harvey accepts this offer, then to the moon we go, because nasdaq investors will take notice of this penny stock and run it up, maybe..
Posted by Stocktrader20 on :
MOTG getting some coverage here lately-
Stockguru.com: Guru Alerts for Thursday, April 6, 2006 TTSR, SEIH, MOTG, TGLO. Apr 6 2006 7:27AM ET
RumorAlerts.com: Stocks to Watch Tuesday: MOTG, HRVE, LTON Apr 4 2006 8:14AM ET
Posted by binsleep on :
Stocktrader: Just wait until Harvey comes under the umbrella! Muahahaha!
Posted by CMoney on :
A little early morning activity is already going on. We're at 25000 in volume before the start of day.
Dang, now HRVE's moving too, today is going to be a good day.
C$
Posted by CMoney on :
And we're off to the races
Posted by Ragedbull777 on :
27 x 28. LT 28. It's a start in the right direction. Posted by Stocktrader20 on :
.03
Posted by Ragedbull777 on :
There seems to be a light at the end of the tunnel. After .03 the next stop looks like .034. Posted by Stocktrader20 on :
from Welch, MOTG CEO:
From Welch:
The current OS: I dont have the very last report, but perhaps around 60M only.
We are preparing to acquire HRVE. We will be recapitalizing the company and moving ahead strong.
If the HRVE initial offer fails, we will simply re file a tender offer and keep it in play until it gets done.
This 10Q that is to be filed should show much stronger revenue than any other before it (as publicly disclosed previously)
[ April 06, 2006, 10:53: Message edited by: Stocktrader20 ]
Posted by Katrina7 on :
Good morning folks!
Did anyone notice that big bad old ARCAs order at .034 has mysteriously vanished. Told ya it was a bluff,
Nice buys coming in at .03 and most importantly, UBSS off the top of the ask. I think we are heading to 4 today fellas.
go MOTG!
stocktrader: I saw that on other boards, was that welch writing to you? or someone else?
Posted by Stocktrader20 on :
I got it off the yahoo HRVE board. I dont know if it is actually from Welch but, who knows it very well could be. Hopefully it is.
Posted by WarpedMind on :
Hey guys, I'm back! Was on vacation... gotta love NYC!
Man! Nice welcome back gift... MOTG is finally acting like the MOTG we all know and love!
We're gonna close green for the day and week... get ready for the ride! Woo hooooo!
Posted by Ragedbull777 on :
My gut tells me that we are gonna start moving up now. I hope it's not that donut I just ate. LOL.
GL all. Posted by Ragedbull777 on :
OT: Take a look at AANI. Had news today. I got in last week. Could be a nice long term investment. JMHO.
Posted by binsleep on :
Warped: Glad to have you back. Al graciously accepted Rally Monkey Duty while you were gone (Thanks, Al!)
Posted by Aldeberon on :
Hey, somebody had to carry the MOTG monkey on his back!
Posted by DWS on :
Thats the way I like it... .03x.031
Posted by Stocktrader20 on :
.031 x.032
Posted by Ragedbull777 on :
Sweet.
Posted by Ragedbull777 on :
Everyone of my stocks is green today. If everyday was like that. Only in my dreams.
GO MOTG!
Methodically Our Team Grows
Posted by Ragedbull777 on :
LT .032. Go motg!
Posted by Ragedbull777 on :
Nice day overall. Tomorrow could get better. Posted by BigBuyer100 on :
Bigbuyer, that guy is full of it and so are you. Read the article again but this time put your glasses on. MOTG is only buying 51 percent of company not all 3.5 million shares. If HRVE PPS keeps going down we might have to lower the ante. The projected revenues of $65-70 million are with all the acquisitions made plus HRVE. Add them up. You are a BASHER through and through. Get a LIFE. Posted by Ragedbull777 on :
Here's to a good day! Posted by Stocktrader20 on :
Our day will come, after speaking with Welch through email. Im more confident that ever. He said one way or another the deal will be completed.
Posted by Stocktrader20 on :
Gapping .031 x .032 Nite just moved back to .034 just one MM in the way keeping us from .034
Posted by Ragedbull777 on :
31 x 32, LT 32. eom
Posted by Katrina7 on :
Good morning all. No Malibu for me today, sick daughter with strep.
The article was extremely unprofessional, with lots of factual errors. AW knows about it and isn't happy at all. They are trying to decide if they will respond.
It looked like we were gonna have a nice morning, but it appears the mms arent ready to let this run. And now ARCA on the ask with a huge order. I guess we are gonna need some serious volume to bust past all this crap.
Kat
Posted by Katrina7 on :
And now ARCAs gone....
Posted by Katrina7 on :
We missed this yesterday
Harvey Electronics will take closer look at offer
Thursday , April 06, 2006 21:23 ET
By Joan Verdon Apr 05, 2006 (The Record - Knight Ridder/Tribune Business News via COMTEX) -- Harvey Electronics Inc. of Lyndhurst wants its shareholders to hit the pause button on a tender offer by Modern Technology Corp. and wait until the Harvey board can study the proposal.
"We look forward to reviewing the offer more carefully as we learn more of its specific terms," Harvey Chairman Michael Recca said in a statement Tuesday.
Harvey CEO Franklin Karp declined to be interviewed about the offer.
On Monday, Modern Technology, a technology development and acquisition company based in Oxford, Miss., announced it wants to purchase 51 percent of the outstanding shares of Harvey's stock. Modern Technology offered 80 cents in cash and 35 cents in Modern Technology stock for each share of Harvey stock.
That announcement caused Harvey stock to surge from 61 cents to 89 cents. On Tuesday, the stock price dropped to 74 cents.
The stock price has bounced between 54 cents and $1.59 over the past year.
Modern Technology is a 24-year-old investment firm that has adopted an aggressive acquisitions strategy in recent years. Last year it acquired Sound City, a New Jersey-based catalog and retail company that, like Harvey, specializes in home theater installations. Modern Technology has told its shareholders it plans to expand the Sound City chain.
Howard Davidowitz, chairman of Davidowitz & Associates Inc., a national retail consulting and investment banking firm based in New York City, said the a deal could benefit both companies. Because Sound City and Harvey's both do custom installations, "it makes sense to try to get critical mass," he said. "So you can get your costs down and you can be competitive."
Harvey's size -- with only eight Harvey Electronics stores and two Bang & Olufsen showrooms -- is its biggest challenge, Davidowitz said.
"Can you imagine being their size in a marketplace with Best Buy, Circuit City, etc.? This is not easy," he said, adding that Best Buy's success in improving its service with its Geek Squad of technicians is hurting smaller chains like Harvey.
Harvey also would benefit if it no longer had the costs and reporting responsibilities of being a public company, Davidowitz said. "There was a time, maybe a decade or 12 years ago, when Harvey's was a little hot. It had upscale product. Best Buy wasn't where it was today. But that's all gone."
Harvey has been warned that it could be delisted from the Nasdaq if its stock price remains below $1.
Posted by binsleep on :
Kat,
Thanks for the update. I read that post late last night and was pretty pissed at that woman. I was wondering how Welch might feel about it. Thanks for supplying us with the answer Posted by CMoney on :
Looks like a lot of pennys are down today because of the SEC letter from yesterday.
C$
Posted by Katrina7 on :
C$- Ya talking about the letter of indictment for the pump and dumpers? Nothing related to MOTG directly right?
Posted by CMoney on :
yeah, definately not direct. Im just looking at a long list of pennys in the red on my watch list
Posted by BuyTex on :
as you mention, Kat, really only a question of MM's having enough cheapies to let it go...but shaping up nicely
Posted by Ragedbull777 on :
Slow day. My Ameritrade times and sales for MOTG shows 2 hours between last 2 trades. Last trade at .029, 40,000 shares. Does that mean that no one is selling? Are we holding tight? I am. I want a much higer PPS. Posted by Ragedbull777 on :
quote:Originally posted by BuyTex: sweet-looking chart here, guys:
as you mention, Kat, really only a question of MM's having enough cheapies to let it go...but shaping up nicely
The ADX is looking better and better. Once the positive DM and the Average DM move above the Negative DM this stock will be on a bullish course. I checked a few other indicators and there's some accumulation going on. The Stochastic is also looking better. If you look at the daily price versus the 21 day moving average it looks like a roller coaster. One week it's above the average the next it's below. Hopefully we'll start getting more consistency with the share price. Posted by Katrina7 on :
Buytex--you throw your chips in? We'd love to have you!
RB slow as molasses I'm so bored, I had to post over on RB!
This sideways crap is BS
If if ten business day for HRVE to respond, I'm hoping we get an announcement on Monday!
Posted by BuyTex on :
Kat, watching for consistent volume...as mentioned, chart's shaping up...
R-Bull, ADX signal already there, yes?
Posted by Ragedbull777 on :
Hey Kat, How bout that mr tech russ at RB. He and mr momo have been at it all day. I don't know what it is with mr tech. He keeps pounding the same story over and over. I think once or twice is sufficient. He must be retired and have nothing better to do. All he talks about are the convertibles. I personally like hard tops. LOL Just kidding. I know what he is referring to. Posted by Ragedbull777 on :
quote:Originally posted by BuyTex: Kat, watching for consistent volume...as mentioned, chart's shaping up...
R-Bull, ADX signal already there, yes?
Buy Text,
I think there's a flaw in that chart. I ran MOTG on incredible charts and the chart is different. You might want to check it out. I can email you the chart if you want. Just send me a message with your email. Also if you go to that chart you linked, change the daily to weekly and you see it's different. The ADX is not where we want it to be. Not even close. JMO.
Posted by BuyTex on :
Text?
lol, Tex, man...
Seriously, I haven't run different frequencies--just looked at a yearly chart (well, actually, a year and 10 days cuz I had looked at something else on a ten-day...). But I see what you mean on a weekly view: +D just now about to cross and overall trend has not turned yet... As mentioned, nice radar but still looking for consistent volume...good luck with it.
Posted by Katrina7 on :
Hey gang...well not the end of week I was hoping for. Looking for HRVE to respond monday.
I really think this is gonna happen. How is HRVE gonna pass this up? They gotta take it or get delisted.
Posted by Katrina7 on :
RB, for gods sake, if the ADX is where he wants it to be, dont change his mind! Let him buy!
The ADX is just right Tex.
P.S. remember we are suppossed to be pumping this stock.
LOL
Posted by Ragedbull777 on :
she's right Tex, I am wrong. Mortgage the house, cash in the life insurance, spend the kids college funds. GO for it Tex. You can double easy. Posted by BuyTex on :
for real, Kat--y'all get your act together!
later, grrrl, will be checking in off 'n on thru weekend...
Posted by Katrina7 on :
I know Tex-we need to be like the republicans, just adopt one tag line and never waver.
Buy MOTG. Lots of it. Don't ask us why, just do it!
Posted by WarpedMind on :
Woo hooooooo!
Gonna break out next week folks! Let's pray! Let's roll! Let's pray for some butter rolls!
I dunno. Ignore me.
P.S.
Woo Hoooooooooooooooooooooooooooooooooo!!!
Posted by Katrina7 on :
Please ignore warped, he is on medication. What he means to say is next week is gona KICK BUTT!
Posted by Katrina7 on :
Okay MOTG supporters, were gonna have to huddle up here and have some pumping lessons 101!
Only say good things, except to each other in private messages
keep talking about how we will be at a dime in no time.
And of course, keep talking about how great I am .
Posted by WarpedMind on :
seriously folks...
this is what we've been waiting for! AW is poised to take Harvey.
First Harvey, then the world!!!! Muahahahahah!!!
When AW is dictator of the world, whose side do you wanna be on? That's right... you wanna be part owner of MOTG enterprises!
Be part of the worldwide domination or be dominated... better buy your shares as soon as possible!
Posted by Aldeberon on :
quote:Originally posted by Katrina7: And of course, keep talking about how great I am .
Kat's so vain, she probably thinks this post is about her!
Posted by Katrina7 on :
Ha Ha AL. You're just mad cause you got the heisman last night.
Posted by Aldeberon on :
Yeah for kicking your ass through the uprights Posted by Katrina7 on :
Really al, I dont think we should bring your sexual fantasies to the board. Keep it clean.
Posted by Ragedbull777 on :
HRVE's PPS keeps dropping. They may have no choice but to accept. The lower their PPS goes the better our offer will appear.
Posted by Katrina7 on :
I think you are right RB. If the board turns this down, they have no where to go but to the OTCBB.
The shareholders are gonna see this as their best option. I can't wait for the news to come out that he deal is done. I hope I'll be here. Traveling at the end of next week.
Posted by binsleep on :
quote:Originally posted by Katrina7: I know Tex-we need to be like the republicans, just adopt one tag line and never waver.
Our intelligence suggests that HRVE has WoMD. We have no choice but to take them over. You're either with us, or you're against us.
(Sorry, I couldn't resist this one...)
Posted by Katrina7 on :
lol Bin, very very funny. I think we've managed to lose all the republicans here. Good job.
Although I'm sure they'll come back when its time to make money.
Posted by Katrina7 on :
Just keeping us on the front page here fellas. I think this is going to be a great week for MOTG stockholders. I really hope we get a PR soon with HRVE backing the deal. Ill check in with AW first thing Monday.
Ya'll have a good weekend!
Posted by binsleep on :
Looks like they want to take this up higher this morning. Bid jumped from .029 to .031.
Posted by Stocktrader20 on :
.031 x .034 news out?
Posted by Katrina7 on :
Good Morning everyone. I woke up extra early this morining...hope it was to see this run. Looks like a nice gapper!
Maybe we got some news comin our way?!?
.031 X .034 Looks like we finally got some attention!
Here's hoping for a fantastic week!
Posted by binsleep on :
Not yet, but I'm wondering if someone is smelling something! Nice!
Posted by trade04 on :
WHY IS MOTG GAPPING UP?
FWIW CHECK OUT STTK PUT IT ON YOUR WATCHLISTS
Posted by binsleep on :
.033 x. 034 !!
Posted by Katrina7 on :
I'm not seeing news...does anyone else have anything?
Posted by trade04 on :
KAT DID YOU CHECK OUT PINKSHEETS?
Posted by binsleep on :
Kat, not yet.
Posted by trade04 on :
AFTER YOU GUYS SELL OFF...BUY STTK
Posted by Katrina7 on :
Arca's other big sell order that was at .044 has also mysteriously vanished....
Watch Nite, UBSS & ETRD scramble if we go....
Posted by Ragedbull777 on :
quote:Originally posted by trade04: WHY IS MOTG GAPPING UP?
FWIW CHECK OUT STTK PUT IT ON YOUR WATCHLISTS
Didn't you get out of MOTG a while back?
Posted by Katrina7 on :
Hrve's up 7% as well....ya'll keep your eyes out for news.
Posted by Zosyn on :
trying to buy at 034, can't get filled...
Posted by Katrina7 on :
bet you can buy now at .033...lol
damn mms...
Posted by DWS on :
Slowed to a crawl... wonder if this will fizzle out.
Posted by Katrina7 on :
I've always maintained the mms have tight control over this stock....they are still not ready for her to run. But by the way we gapped open, I'd say they got some pressure comin. We'll see how many shares they get at .031, not many I bet.
Posted by Katrina7 on :
Just emailed AW to see if today is ten days, or if they are given ten business days. Let ya'll know when I hear back.
When's the Q due?
Posted by DWS on :
Sound like a valid theory to me.. I'd love to see them left holding the bag for once....
Posted by binsleep on :
Kat, I'm going to guess that it's 10 business days, but if it was today, that'd sure be nice Posted by Katrina7 on :
Come on all you buyers....you wanted it at .034, here's your chance at .0325....lol.
Posted by Katrina7 on :
This from AW concerning the ten days thing:
It is ten days from filing of the ‘long form’ SCHEDULE TO with the SEC which will be filed shortly.
Posted by Aldeberon on :
Folks for the first time since October this chart is looking incredible. More volume will seal it imo. I think it's fair to say someone is accumulating here...
MACD divergence, first RSI 50 break since Le-bed Posted by emich25 on :
i think hrve is going to get done...either way we should have a decent ride up to .06
Posted by Katrina7 on :
hey emich---you still in? I thought you bailed...I'm expecting we do better than .06 with 65 mil in revs!!!
Comon...someone call UBSS's bluff....he's just barely holding on, hoping for a few more shares before he gets caught naked.
Posted by Stocktrader20 on :
Modern Technology Corp Chairman, Anthony Welch, Addresses Investment Community in Exclusive Wall Street Network Interview
Last Update: 4/10/2006 11:13:48 AM Data provided by
OXFORD, MS, Apr 10, 2006 (MARKET WIRE via COMTEX) -- Modern Technology Corp (MOTG) a diversified technology development and acquisition company announced today its Chairman and CEO was interviewed by Wall Street Network.
In the interview, Mr. Welch addresses some of the recent accomplishments and goals for MOTG. To hear the entire interview, visit www.wallst.net. "Interviews/Podcasts."
About Modern Technology Corp
Modern Technology Corp, a diversified technology development and acquisition company, builds revenues through continuous growth, strategic acquisitions, and commercialization of nascent technology. MOTG improves operating efficiencies through the elimination of cost redundancies and realized synergy between subsidiaries. MOTG also commercializes new technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to build shareholder value through a model of continuous growth. Web Address: http://www.moderntechnologycorp.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
SOURCE: Modern Technology Corp
Posted by emich25 on :
Kat I waited 8months invested a stupid amount of hours in this...There is no way I am going to miss out on the run...Hrve's shareholders I think will probably take the offer. It is a good offer..They know that they can't do any better and they are kidding themselves if they think they will....we need a little over 1.5million shares....so we will see what happens...
Posted by Aldeberon on :
quote:Originally posted by Stocktrader20: Modern Technology Corp (MOTG) a diversified technology development and acquisition company announced today its Chairman and CEO was interviewed by Wall Street Network.
He sounds very excited about Harvey!
Nothing new in regards to further acquisitions, etc. Reiterated $65m goal and national listing.
Posted by Katrina7 on :
Glad to have you back emich....
I just listened to the interview, it was better than his last, but he still needs some spit and polish, as they say in the south.
At least they are working on getting exposure.
Posted by emich25 on :
i think this is gearing up for a run...we shall see it is way over due
Posted by Katrina7 on :
emich-You don't think MOTG already has some of the shares? You think that big volume day for HRVE was just an insider making some money?
Posted by emich25 on :
it was some guy living in florida...check the new form 13g..it was filed march 14th they bought over 300k shares....
Posted by binsleep on :
AW mentioned "additional acquistion(s)" in plural in the interview. While I'm sure the HRVE deal is at the forefront, it sounds like its not the only thing going on right now.
Welch has certainly put a lot towards this company the past year. It's pretty exciting to think of where we may be in a year!
Posted by Ragedbull777 on :
31 x 32, last trade * 32, almost 1 million shares traded. HOD=34, LOD=30. Tight trading. Appears no conversions going on.
Posted by Ragedbull777 on :
Not a bad day overall. April has definitely been better that March. So far anyway.
Posted by CMoney on :
WARNING WARNING
Newbie question to follow, shortly;
How much do I need in my account to have daytrder status?
C$
Posted by Katrina7 on :
For the IRS best to have a margin acct with $25k.
Posted by Katrina7 on :
CD: In order to daytrade more than 4 times a week, you need an account with 25K....
Posted by Aldeberon on :
quote:Originally posted by CMoney: How much do I need in my account to have daytrder status?
C$
Usually people don't WANT daytrader status. Most folks reach daytrader status involuntarily by trading more than 3 (or is it 4?) round trip daytrades in a 5 day period. They then get their accounts shut down until they deposit $25,000. The trick here is that apparently if you have a cash account you can do unlimited dt's. I have a cash account, do plenty of daytrading and have never been flagged. People with a margin account seem to be the ones who get shut down. It's hard to find information on this though, brokers and the SEC are strangely silent on this topic, presumably to discourage daytrading by newcomers to the market.
GL in your trades. And follow Daradog, arguably the best day trader ever.
Al
Posted by CMoney on :
Thanks Al and Kat.
I know someone who was hit with the (fine). Not sure what to call it since its your own money. Just my luck, this darn Teach Me To Trade class told me to get a margin account.
BTW,
Anybody here ever take a course from TMTT, 4x, Optionetics, WizeTrade, etc, etc.
Posted by Aldeberon on :
quote:Originally posted by CMoney: Just my luck, this darn Teach Me To Trade class told me to get a margin account.
Margin is helpful because your money clears instantaneously. Cash accounts take 3-5 days Posted by BuyTex on :
they got it lock-stepped pretty neatly: margin accts with < $25k get busted back to cash for too many round-trips, yet tax bennies of being classified by IRS as a "trader" much more favorable than those for "investor."
Posted by CMoney on :
quote:Originally posted by Aldeberon:
quote:Originally posted by CMoney: Just my luck, this darn Teach Me To Trade class told me to get a margin account.
Margin is helpful because your money clears instantaneously. Cash accounts take 3-5 days
ewww, that'd make me sick. I already have to wait a few hours or a day for Scott to process wires.
Posted by binsleep on :
TwinTrader.com set an alert for us today.
MOTG is getting lots of exposure lately for the rise in PPS. It's about time!!!
Posted by binsleep on :
StockGuru picked us up too Whee!
Posted by Ragedbull777 on :
Not much volume. You would think with all those alerts we would have higher volume. I guess we have to spread the word ourselves. I try to casually mention our stock on other message boards. Posted by Aldeberon on :
MOTG doesn't like top stay above the upper bollinger for very long, so today might not be a real strong day. Overall, technicals still look good though. More volume on the up side would be nice
I'm sure all the shorts have covered following the Harvey announcement and now they're gonna let this thing climb.
Also, from reading the boards I think all the flippers are out and that's good for us too.
GL
Posted by Ragedbull777 on :
Just got filled at .028, the bid is now .0261. Maybe I jumped the gun. If merger goes through it won't matter.
Posted by Ragedbull777 on :
Last trade at .0265.
Posted by Ragedbull777 on :
Funny, my trade at 28 is not on the times and sales on Ameritrade. LT went * .027. Volume picking up a bit.
Posted by binsleep on :
My entire watch list is red. I hate it when that happens. Posted by binsleep on :
Kat, AW responded to you and said that the 10 days was after the long form tender offer was submitted to the SEC. That hasn't been done yet?
Posted by Katrina7 on :
Morning all,
No Bin, he said that he would be filing that form shortly.
This is crazy, 10k in volume here and zero volume for hrve. I hope we hear something from HRVE soon...
Posted by binsleep on :
We need to get this lead diaper off, so we can run and play in the sandbox with the big kids!
[ April 12, 2006, 10:42: Message edited by: binsleep ]
Posted by binsleep on :
Kat,
Unless people view this thread, I have a feeling that most people think the 10 days started from the original PR (which would end tomorrow, or Monday if in business days). This is what I had assumed until you asked Welch. I just hope the timing doesn't scare people away since HRVE has 10 days to instruct their shareholders "after" the long form is submitted to the SEC. Could still be a couple of weeks away.
May should definately get interesting. Huge Q and all the HRVE rumblings going on.
Posted by Ragedbull777 on :
I am showing only 10K shares traded. Is that correct? This is crazy.
Posted by bobcat88 on :
Holy smokes we are at 17k now, thing is gonna bust out soon!
Posted by TheCreator on :
You are not being seriously are you, excited over 17k shares?
quote:Originally posted by bobcat88: Holy smokes we are at 17k now, thing is gonna bust out soon!
Posted by Katrina7 on :
RB--unfortunately, my friend, you are correct. We've traded a whopping $500 today. Wow.
Good thing is, no one is selling, although you'd have to be nuts to sell at .027 IMO.
Hope the news waits till monday, remember the market if closed on good friday...
Posted by Ragedbull777 on :
I bought more yesterday than we've sold today so far. Is this the calm before the storm. I sure as hell hope so. Excuse my french.
If anything we've learned a lot from trading / investing in pennies. Could be an expensive lesson if this baby doesn't turn around. I will definitely be very cautious in the future when investing in company that has convertible debentures. GLTA
Posted by bobcat88 on :
quote:Originally posted by TheCreator: You are not being seriously are you, excited over 17k shares?
quote:Originally posted by bobcat88: Holy smokes we are at 17k now, thing is gonna bust out soon!
I forget that it's hard to "hear" the sarcasm over a massage board post. Just unbelievable that there is something brewing after the announcement and there is no volume.
Posted by Ragedbull777 on :
quote:Originally posted by binsleep: My entire watch list is red. I hate it when that happens.
Bin, I know how you feel. My holdings are 4 in the red and 2 even for the day. Could be worse, they could all be red. Four bogeys and 2 par today. Hoping to finish with a few birdies. Posted by binsleep on :
The folks over at RB are confused as to the 10 day deadline as well. Someone with an account over there should set them straight. I had a feeling this was going to happen.
Posted by binsleep on :
Actually, I'll take care of it...
Posted by Ragedbull777 on :
Did they halt trading on MOTG? Something is not right. Posted by Ragedbull777 on :
Press Release Source: Energy Vision International
Energy Vision International Subsidiary American Geothermal Signs New Contract on The Island on Lake Travis Wednesday April 12, 11:28 am ET
OXFORD, Miss., April 12, 2006 (PRIMEZONE) -- Energy Vision International (Other OTC:EGVI.PK - News), a rapidly growing diversified energy company, is awarded additional new business on the Lake Travis development.
American Geothermal signed the contract this week to proceed with the mechanical design and engineering work on the common areas of 'The Island on Lake Travis' luxury condominium development. The area comprises 20,000 square feet and will provide heating and cooling for the indoor pool, health club, locker rooms and spa. The contract also includes the second floor lounge area, full bar, restaurant and meeting rooms as well as a third floor private penthouse.
American Geothermal was originally awarded the contract to install the DeMarco Energy Miser heating and cooling system in 80 of the 212 condominiums. The principal developers have been highly impressed with the reliability of the Energy Miser system and as a result awarded American Geothermal significantly more business than originally quoted. These condominiums enjoy the benefit of lowering heating and cooling bills by up to 70% versus traditional HVAC systems.
Victor DeMarco CEO of American Geothermal commented, ``We reasonably expect `The Island' development will continue benefiting the company long after we complete the installations.''
Chairman of EVI, Anthony Welch added, ``The investment community can easily appreciate our rapid growth path. The Lake Travis project is a powerful installation example and we expect many more similar projects in the months to come. We encourage investors to examine our stated objectives and our results delivered.''
About the Company
Energy Vision International grows through energy-related acquisitions, marketing its patented geothermal water-air heating/cooling systems, and sales of energy conservation solutions. The company has three subsidiaries at present with plans for more.
The company's subsidiary, DeMarco Energy Systems of America, Inc. (http://www.demarcoenergy.com), has geothermal installations in Oregon, Pennsylvania, Washington, Montana, South Dakota, Mississippi, California and Texas. EVI's primary focus is to provide energy efficient technologies to commercial and institutional markets through the application of the DeMarco 'Systems' patents and other acquired technologies. For more information, visit http://www.energyvisionintl.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact: Energy Vision International Investor Relations (662) 236-5928 ir*energyvisionintl.com
Posted by Ragedbull777 on :
No volume but at least we ended green. FWIW.
Posted by Katrina7 on :
I don't know what's going on. This may be the lowest volume day we've had in months. I hope that we get some sort of pr update early next week. We need some positive momentum here.
It's pretty scary to realize I own 10X the volume today.
The fact that HRVE hasn't shut this offer down means to me that they are hammering out details, or countering...
Posted by Ragedbull777 on :
The volume did suck, but looking on the bright side it seems people are holding on to their shares. The trading range was pretty tight, mostly at .029. And we finished green which is always good. Hopefully tomorrow gets better.
what the heck is going on, we went down to .023
Posted by binsleep on :
.023 ?? WTF was that all about?
Posted by Stocktrader20 on :
MMs just trying to shake some shares. Bid back to .026
Posted by binsleep on :
I think its high-time we start shaking the MM's, by their necks!
Posted by Stocktrader20 on :
Obvious manipulation to take down the price 25% on only 100k shares.
Posted by binsleep on :
To the MM's:
"I would like to direct this to the distinguished members of the panel. You lousy cork-suckers. You have violated my fargin' rights. This suminonbatching country was founded so that the liberties of common patriotic citizens, like me, could not be taken away by a bunch of fargin' ice holes, like yourselves." - Roman Moronie (Johnny Dangerously)
Posted by Ragedbull777 on :
28 x 28.5. LT 28.5. That's a little better. I want some green.
If the Harvey deal goes through how much of an effect could it have on our share price? Anyone have a thought on that?
Thanks in advance.
Posted by Katrina7 on :
This is such total b.s., is our volume so low that the mms walk it down for a lousy 100k order? That's nuts.
Notice Smith Barney on the bid at .023 with a large order. Hope it doesn't get filled.
I can't believe we are still in the 2s! I emailed Welch and he said he still is confident that HRVE will happen, although he expects it to take the full month. He said if HRVEs performance doesn't improve, the next offer may even be lower....
Heading to Boston today for Passover. Ya'll have a good Easter. See ya Tuesday
Posted by binsleep on :
We're heading in the right direction at least. C'mon green!
Posted by Stocktrader20 on :
last sale .03
Posted by Ragedbull777 on :
quote:Originally posted by Stocktrader20: last sale .03
Posted by Ragedbull777 on :
quote:Originally posted by Stocktrader20: last sale .03
Not a bad ending to a day that has a .023 in it.
Happy Easter all!!!!!!!!!
Posted by bobcat88 on :
Sorry, but due to unforseen circumstances, Easter has been canceled.
Posted by Ragedbull777 on :
That's cold. Posted by Stocktrader20 on :
.03x.032 I think we hear some news this week.
Posted by binsleep on :
We should be expecting to see the long form TO submitted to the SEC this week.
Posted by Stocktrader20 on :
HRVE has to recommend or reject the tender offer today or tomorrow right?
Posted by binsleep on :
No, they have 10 days after the long form is submitted.
My guess is that it will be filed either today or tomorrow. That would give HRVE exactly 10 days to get their guidance to their shareholders before the May 1st deadline.
Talk about cutting it close! Posted by Stocktrader20 on :
Yeah thats why I was thinking it would be counted from the 3rd of this month or from the 8k on the 5th. Thats just not giving much time for HRVE shareholders.
Posted by binsleep on :
I think a lot of people thought that originally, myself included. Kat got the answer from Welch last week. At the end of last week, they were supposedly finishing up the TO to be submitted. I say it has to be either today or tomorrow due to time contraints.
Posted by Stocktrader20 on :
A week and a half ago I got this response from Welch-
"The full Tender Offer documents are almost complete and once delivered to HRVE must be sent to all HRVE shareholders."
Posted by Zosyn on :
Opened up this am, L2 looks good, could be interesting!
Posted by Ragedbull777 on :
Decent volume so far compared to last week. Almost as much volume in 40 minutes as Friday's total volume. Good to see some interest and a little green.
Hope Everyone had a nice Easter.
RB777
Posted by Ragedbull777 on :
At least we've already surpassed Friday's total volume.
Posted by Aldeberon on :
quote:Originally posted by Stocktrader20:
"The full Tender Offer documents are almost complete and once delivered to HRVE must be sent to all HRVE shareholders."
Great, so now we have Welch working on the TO and the 10Q at the same time.
Gimme an "E!" Posted by binsleep on :
E
Posted by Stocktrader20 on :
Harvey Electronics, Inc. Responds to Modern Technology Corp. Announcement of Possible Tender Offer
By BusinessWire Last Update: 4/17/2006 2:45:01 PM Data provided by
LYNDHURST, N.J., Apr 17, 2006 (BUSINESS WIRE) -- Harvey Electronics, Inc. ("Harvey Electronics", "Harvey" or the "Company"; NASDAQ Capital Market symbol: "HRVE") announced today that its Board of Directors has met to consider and determine a preliminary reaction to the public announcement and purported tender offer by Modern Technology Corporation ("Modern Technology"; OTCBB: MOTG.OB) for 51% of the issued and outstanding common shares of the Company.
Michael Recca, the Chairman of Harvey Electronics stated; "Contrary to the public announcements and filing of Modern Technology with the Securities and Exchange Commission, it is the view of the Board of Harvey that Modern Technology has NOT commenced a tender offer for the common shares that conforms with the requirements of applicable securities laws. We believe that the Schedule TO filing by Modern Technology is deficient in several material respects and fails to include material terms of a proper, and legally compliant, tender offer that would enable Harvey's Board of Directors to offer guidance to shareholders."
"Despite the Board's careful consideration of the purported offer, and in consultation with counsel to the Company, we are unable to make a recommendation concerning the Modern Technology announcement at this time."
"The Directors will carefully and promptly consider any tender offer or other documents properly filed by Modern Technology with the Securities and Exchange Commission and will respond appropriately when and if these documents are available. Until such time as more information is available, the Company's Board suggests that its shareholders take no action."
Additional Information
Prior to any request for the shareholders of Harvey Electronics to take any action with respect to the Modern Technology proposal, appropriate filings shall be made with the SEC, which filings may include proxy statements, a Schedule TO and/or a Schedule 14D-9. These filings will contain important information about the Modern Technology proposal and Harvey Electronics' position regarding the proposal. You are urged to read them carefully before taking any action or making any decision with respect to the proposal. You will be able to obtain the documents when they become available free of charge at the website maintained by the SEC at www.sec.gov.
About Harvey Electronics, Inc.
Harvey Electronics is a leading retailer and custom installer of high quality, exclusive home theater, audio and video products in the metropolitan New York area. The Company currently operates a total of nine locations; eight Harvey showrooms and one separate Bang & Olufsen branded store. There are two Harvey locations in Manhattan and six suburban locations in Paramus, New Jersey; Mt. Kisco, in Westchester; Greenwich, Connecticut; Greenvale/Roslyn, on the north shore of Long Island, in Eatontown, New Jersey and our newest store in Bridgewater, New Jersey. The Bang & Olufsen branded store is located in Union Square on 927 Broadway at 21st Street, in Manhattan. The Company also has a Bang & Olufsen showroom within our Harvey retail store in Greenwich, Connecticut.
Audio Video International, a well-respected trade publication, has named Harvey Electronics a national "Top Ten Retailer of the Year", seven years in a row.
Please visit a Harvey store or one of our Bang & Olufsen showrooms. Also, please inquire about Harvey's custom installation services.
From time to time, information provided by the Company, statements made by its employees or information, included in its filings with the Securities and Exchange Commission may contain statements, which are so-called "forward-looking statements" and not historical facts. Forward-looking statements can be identified by the use of words such as "believe", "expect", "intend", "anticipate", "in my opinion", and similar words or variations. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company's actual future results may differ significantly from those stated in any forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, including, but not limited to, product demand, pricing, market acceptance, litigation, risks in product and technology development and other risk factors detailed in the Company's Prospectus dated March 31, 1998 and from time to time in the Company's Securities and Exchange Commission reports including its Form 10-K and Forms 10-Q.
For more information and showroom locations, visit our website at www.harveyonline.com.
SOURCE: Harvey Electronics, Inc.
Posted by binsleep on :
Well, we didn't need that
Posted by Stocktrader20 on :
Yeah but, HRVE didnt say no the offer either.
Posted by binsleep on :
As of right now, I no longer have a stake in MOTG. My plans were to flip the stock yesterday, but I got caught at the bottom with the majority of my shares for a hefty loss. My hopes are that it will drop further in the near term, so I can scoop them back up, but judging by the strength of the stock towards the end of the day, yesterday, I'm not sure that I'm going to get that opportunity. Posted by Ragedbull777 on :
quote:Originally posted by binsleep: As of right now, I no longer have a stake in MOTG. My plans were to flip the stock yesterday, but I got caught at the bottom with the majority of my shares for a hefty loss. My hopes are that it will drop further in the near term, so I can scoop them back up, but judging by the strength of the stock towards the end of the day, yesterday, I'm not sure that I'm going to get that opportunity.
Good luck to you Binsleep. It's been tough with this stock. I've flipped many shares to keep me from losing too much. Should have sold all at .07. We live and learn. Ciao.
RB777
Posted by Stocktrader20 on :
quote:Originally posted by binsleep: As of right now, I no longer have a stake in MOTG. My plans were to flip the stock yesterday, but I got caught at the bottom with the majority of my shares for a hefty loss. My hopes are that it will drop further in the near term, so I can scoop them back up, but judging by the strength of the stock towards the end of the day, yesterday, I'm not sure that I'm going to get that opportunity.
Not sure I would of sold near the low but, Good luck to you anyway.
Posted by binsleep on :
Uh oh! HRVE news out
Harvey Electronics Announces Large Capital Infusion by Several Institutional Investors Led by Former Fortune 500 CEOs Tuesday April 18, 8:30 am ET
LYNDHURST, N.J.--(BUSINESS WIRE)--April 18, 2006--Harvey Electronics, Inc. (NASDAQ Capital Market symbol "HRVE"), the New York area's leading retailer and installer of high-end home theaters, announced today that it would receive approximately $4.0 million in growth capital from several institutional investors led by Trinity Investment Partners LLC, a private equity firm comprised of former Fortune 500 CEOs from some of the world's most successful branded consumer products companies. Joining Trinity is Firebrand Partners LLC, an investment firm focused on the specialty retail sector. ADVERTISEMENT
Three of Trinity's Management Partners are expected to join the Harvey Board of Directors including Ron Jones, former Chairman and CEO of Sealy mattresses, President of HON Industries office furniture and President of Masco's Home Furnishings group, and Charles Berger, formerly Chairman and CEO of Scotts lawn and garden and Heinz' Weight Watchers division. Also expected to join the Board is Firebrand Partners' Scott Galloway, founder and former Chairman of specialty retail firm Red Envelope. Another Trinity Management Partner, Peter Larson, is expected to take the role of Special Advisor to the Chairman. Larson is formerly Chairman and CEO of Brunswick Corporation, Worldwide Chairman of the Consumer and Personal Care group of Johnson & Johnson, and President of the Health, Infant and Adult Care sectors of Kimberly-Clark.
The Company will use the capital primarily to refurbish existing stores and add new locations focused on the Harvey Design Studio retail concept that will showcase Harvey's premium products and services in attractive home "lifestyle vignettes" that reflect the design and comfort found in the homes of its high-end customers. In addition, the funds will be used for general corporate purposes and working capital.
Franklin Karp, Harvey's CEO, commented, "It's a great day for our shareholders, our customers, and our employees. The infusion of this equity growth capital combined with the talents of the CEOs who will be joining our Board is unprecedented for a small-cap consumer electronics company. Trinity's partners bring an extraordinary track record of success in building some of the world's most successful branded consumer products companies. Harvey's goal is to become the dominant installer of high-end home theaters in the New York metropolitan region, and we now have the money and the management talent to pursue our ambitions."
Harvey's current Chairman, Michael Recca, stated, "This transaction will benefit all of Harvey's shareholders. The Company clearly needs additional capital to develop its business plan, but capital alone is not sufficient. The Trinity transaction adds the crucial element of sophisticated and experienced directors whose expertise will be invaluable in enabling the Company to reach the next level. Moreover, unlike other recent convertible preferred issues by small-cap companies, this is true equity capital with the preferred stock convertible at a fixed price of $0.70 per share. It is a real endorsement of the potential of the Harvey brand that sophisticated operators and investors are eager to put so much growth capital into the Company on such favorable terms. If you have not been watching Harvey Electronics, you should be now. Although I am stepping down as Chairman, I do so confident that the Company, management, employees and shareholders are in good and capable hands and that Harvey faces a bright future."
Andy Stackpole, Trinity's founder and a former Managing Director in Merrill Lynch's Global Consumer Products group, is expected to become Chairman of Harvey. It is expected that Harvey's other Board members will be stepping down and will be replaced by a new slate of directors to be voted on by shareholders. Harvey's management team, including CEO Franklin Karp and CFO Joseph Calabrese, will remain with the Company in their current positions following the investment.
Stackpole stated, "We view Harvey as the nation's premier platform to invest in the incredible growth that is taking place in the high-end home theater installation market. Already the leading player in the country's most important region for premium audio and video, Harvey is also the #4 competitor nationally. This is a $3 billion + market which is growing in excess of 20% per year. With Harvey's brand, experience, and infrastructure we believe it is well-positioned to capitalize on this growth."
Joseph Calabrese, Harvey's CFO, commented, "The business and financial logic of this deal are obvious. Moreover, this significant infusion of new equity on our balance sheet is a transforming event for the Company."
The investors will purchase newly issued shares of 8% Convertible Preferred Stock, convertible into common stock at $0.70 per share and receive approximately 1.7 million Series A 7-year warrants exercisable at $1.40 per share. The transaction is subject to shareholder approval, which the Company will seek at a special meeting of shareholders. Complete details of the transaction will be available in an 8-K filing with the Securities and Exchange Commission, including items such as registration rights, and the Company's Proxy Statement which will be mailed to shareholders.
SHAREHOLDERS ARE URGED TO READ THE REGISTRANT'S PROXY STATEMENT RELATING TO THE TRANSACTIONS DESCRIBED HEREIN WHEN IT IS AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. Shareholders may obtain copies of the proxy statement and any other relevant document for free, when available, from the website of the Securities and Exchange Commission, www.sec.gov, or by directing a request to Joseph J. Calabrese of the Registrant at jcalabrese*harveyonline.com or (201) 842-0078 extension 2502.
Harvey Electronics, Inc., the investors in the Company's 8% Convertible Preferred Stock and vFinance Investments, Inc., the Company's placement agent, and their respective directors, members, managers, and officers may be deemed to be participants in the solicitation of proxies from Harvey shareholders in connection with the proposed transactions. Information about the ownership of Harvey stock, if any, by these persons is set forth in the proxy statement for Harvey's 2005 Annual Meeting of Shareholders.
About Harvey Electronics, Inc.
Harvey Electronics is a leading retailer and custom installer of high quality, exclusive home theater, audio and video products in the metropolitan New York area. The Company currently operates a total of nine locations; eight Harvey showrooms and one separate Bang & Olufsen branded store. There are two Harvey locations in Manhattan and six suburban locations in Paramus, New Jersey; Mt. Kisco, in Westchester; Greenwich, Connecticut; Greenvale/Roslyn, on the north shore of Long Island, in Eatontown, New Jersey and our newest store in Bridgewater, New Jersey. The Bang & Olufsen branded store is located in Union Square on 927 Broadway at 21st Street, in Manhattan. The Company also has a Bang & Olufsen showroom within our Harvey retail store in Greenwich, Connecticut.
Audio Video International, a well-respected trade publication, has named Harvey Electronics a national "Top Ten Retailer of the Year", seven years in a row.
Please visit a Harvey store or one of our Bang & Olufsen showrooms. Also, please inquire about Harvey's custom installation services.
From time to time, information provided by the Company, statements made by its employees or information, included in its filings with the Securities and Exchange Commission may contain statements, which are so-called "forward-looking statements" and not historical facts. Forward-looking statements can be identified by the use of words such as "believe", "expect", "intend", "anticipate", "in my opinion", and similar words or variations. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company's actual future results may differ significantly from those stated in any forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, including, but not limited to, product demand, pricing, market acceptance, litigation, risks in product and technology development and other risk factors detailed in the Company's Prospectus dated March 31, 1998 and from time to time in the Company's Securities and Exchange Commission reports including its Form 10-K and Forms 10-Q.
For more information and showroom locations, visit our website at www.harveyonline.com.
About Trinity Investment Partners LLC
Trinity Investment Partners LLC is an investment firm focused on management buyouts, recapitalizations, and growth capital investments in the branded consumer products and retail sectors. Trinity's Management Partners are among the most experienced and successful executives in the branded consumer products industry. In the aggregate, they have:
Over 100 years of combined industry experience; Managed businesses with total revenues in excess of $24 billion; Improved profitability by between 50% and 400% at the companies they have led while also growing market share; Spearheaded the acquisition of more than 30 businesses totaling over $6 billion in invested capital; and Managed highly leveraged capital structures while delivering strong returns to investors.
Contact: Harvey Electronics, Inc. Michael E. Recca, 212-709-1907 Fax: 212-709-1952 mer*skycapitalholdings.com or Franklin C. Karp, 201-842-0078 fkarp*harveyonline.com or Joseph J. Calabrese, 201-842-0078 jcalabrese*harveyonline.com Fax: 201-842-0317 or Trinity Investment Partners LLC Andy Stackpole, 917-368-8204 andystackpole*aol.com
-------------------------------------------------------------------------------- Source: Harvey Electronics, Inc.
Posted by binsleep on :
It looks like HRVE may be trying to roll up their sleeves and pull out of this on their own. They are already up over $1.00 on pre-market. I wonder what this does to the MOTG deal?
Posted by Stocktrader20 on :
With or without HRVE, MOTG is still a $25 million revenue a year company with an O/S of only 70 million or so. Welch said there were other acquisitions they were looking at also I believe. Undervalued either way, im still holding.
Posted by Zosyn on :
posturing. they want more money from MOTG...
Posted by binsleep on :
quote:Originally posted by Stocktrader20: With or without HRVE, MOTG is still a $25 million revenue a year company with an O/S of only 70 million or so. Welch said there were other acquisitions they were looking at also I believe. Undervalued either way, im still holding.
Stocktrader: I agree. Welch has brought MOTG a long way in the past year, and for the most part, with only slight bumps in the road. I wouldn't be surprised if he indeed pulls through anyways. I just wonder how much of this he knew about? He's going to be dealing with a different CEO now.
Posted by Katrina7 on :
Man--I come back from Boston and the sky is falling.
I don't know what to say to this, I will shoot welch an email.
Crap. I am totally screwed.
[ April 18, 2006, 10:02: Message edited by: Katrina7 ]
Posted by Stocktrader20 on :
I emailed him yesterday and from reading his responses he wasent aware of the todays HRVE news. It appears that way anyway. But Im still confident in this company without HRVE. And also in the immediate future we still have the quarter filing to give MOTG a pop.
Posted by Aldeberon on :
quote:Originally posted by Zosyn: posturing. they want more money from MOTG...
I wish I could say I agree. But this is a large-scale move by Harvey. They are replacing the entire board with members of the investment team, leaving only the CEO and CFO. Additionally, the company is printing 1.7 million convertible shares for the investment team. It looks like Harvey has taken matters into their own hands.
This does not, however, mean that they are going to get themselves above $1.00 long enough to remain listed. There is still room for MOTG here if the market does not react by blowing HRVE over a buck. This group of investors is planning on remodeling stores and building new ones. That takes time, which is something HRVE does not have. Anyone know how many more months HRVE has before getting delisted?
Part of me thinks Harve's new investors are going to find their $4 million invested in an OTCBB very soon.
They're going down, we're going up.
Posted by Katrina7 on :
Press Release Source: Modern Technology Corp
Modern Technology Corp Subsidiary, INmarketing Group, Anticipates Record Revenue for the Quarter Tuesday April 18, 11:54 am ET
OXFORD, MS--(MARKET WIRE)--Apr 18, 2006 -- Modern Technology Corp (OTC BB:MOTG.OB - News), a diversified technology development and acquisition company, announced today its subsidiary INmarketing Group anticipates the first three months of 2006 to be the strongest quarter in its history and should exceed projections.
ADVERTISEMENT INmarketing's audited financials were recently filed demonstrating impressive year-on-year growth. The rapid growth continues with a record-breaking quarter and moves this important subsidiary closer to its projected $14,000,000 in revenue for 2006.
INmarketing's results are fully consolidated and will be reported as part of our upcoming Form 10Q-SB filing. We anticipate our revenues to be in excess of $4,600,000.00, which represents a 300% increase over the same period last year.
Anthony Welch, Chairman of Modern, said: "Shareholders can expect continued strong growth and results. This year will be an important year for us. So far this year, we have reported record results and have an active acquisition pipeline. Shareholders can expect a busy year at MOTG."
The company's present Earnings-per-share is expected to improve with each passing month throughout 2006 through cost reductions and expected additions to operations.
About Modern Technology Corp
Modern Technology Corp, a diversified technology development and acquisition company, builds revenues through continuous growth, strategic acquisitions, and commercialization of nascent technology. MOTG improves operating efficiencies through the elimination of cost redundancies and realized synergy between subsidiaries. MOTG also commercializes new technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to build shareholder value through a model of continuous growth. Web Address: http://www.moderntechnologycorp.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact:
Company Contact: Megan Peterson 1.662.236.5928
Modern Technology Corp 1420 North Lamar Blvd. Oxford, MS 38655 USA Phone: +1.662.236.5928 Fax: +1.662.236.7663 Web: http://www.moderntechnologycorp.com Posted by Aldeberon on :
quote:Originally posted by Katrina7: INmarketing's results are fully consolidated and will be reported as part of our upcoming Form 10Q-SB filing. We anticipate our revenues to be in excess of $4,600,000.00, which represents a 300% increase over the same period last year.
Less than 30 days until that Q comes out Posted by binsleep on :
Judging by that PR, AW was as blown away by the HRVE announcement as we were. Has anyone heard from him?
Posted by Katrina7 on :
Hey guys, I heard from AW, he says the deal isnt dead yet and that the offer is still legal. He says he has to look at this new financing, which will effectively dilute HRVE, and decide if they should raise, lower or pull the offer.
Didnt get a clear reading from him on what he thought would happen.
Posted by Aldeberon on :
Modern Technology Corp Issues Update on Harvey Tender Offer 4/18/2006
OXFORD, MS, Apr 18, 2006 (MARKET WIRE via COMTEX News Network) -- Modern Technology Corp (OTC BB: MOTG), a diversified technology development and acquisition company, released today an update on its Tender Offer to acquire Harvey Electronics (NASDAQ: HRVE).
On April 17th, 2006, Harvey Electronics released an announcement asserting our Tender Offer to be invalid due to certain 'deficiencies.' We disagree and maintain the commencement of a Tender Offer to be a valid commencement under applicable securities regulations.
On April 18th, Harvey Electronics released an announcement regarding a change of the Board and of a financing arrangement. This represents a significant material event requiring careful study.
We may increase, decrease, or entirely withdraw our Tender Offer based on our analysis.
Anthony Welch, Chairman, said: "Today's announcement from Harvey Electronics changes the picture for us and every stockholder of Harveys. We will carefully review the financing agreement and update our Tender Offer accordingly."
About Modern Technology Corp
Modern Technology Corp, a diversified technology development and acquisition company, builds revenues through continuous growth, strategic acquisitions, and commercialization of nascent technology. MOTG improves operating efficiencies through the elimination of cost redundancies and realized synergy between subsidiaries. MOTG also commercializes new technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to build shareholder value through a model of continuous growth. Web Address: http://www.moderntechnologycorp.com Posted by Katrina7 on :
Well--at least you know I'm telling you the truth....the same thing he told me is in the pr....
Posted by binsleep on :
Hehe, both companies appear to be playing hardball with each other. Hopefully, this turns out to be in MOTG's favor. If they can't get HRVE for less, then maybe Welch should forget about it and move on. MOTG's current revenue streams are already starting to improve. With redundant costs amongst the subsidiaries being eliminated and increasing revenues each quarter, MOTG is already in a much better position than it was a year ago and should be a good investment going forward.
Posted by binsleep on :
quote:Originally posted by Katrina7: Well--at least you know I'm telling you the truth....the same thing he told me is in the pr....
Kat, I never doubted you!
Besides, I've seen "the infamous pictures" and they make up for it even if you weren't telling the truth Posted by Ragedbull777 on :
Modern Technology Corp Subsidiary, INmarketing Group, Anticipates Record Revenue for the Quarter OXFORD, MS -- (MARKET WIRE) -- 04/18/2006 -- Modern Technology Corp (OTC BB: MOTG), a diversified technology development and acquisition company, announced today its subsidiary INmarketing Group anticipates the first three months of 2006 to be the strongest quarter in its history and should exceed projections.
INmarketing's audited financials were recently filed demonstrating impressive year-on-year growth. The rapid growth continues with a record-breaking quarter and moves this important subsidiary closer to its projected $14,000,000 in revenue for 2006.
INmarketing's results are fully consolidated and will be reported as part of our upcoming Form 10Q-SB filing. We anticipate our revenues to be in excess of $4,600,000.00, which represents a 300% increase over the same period last year.
Highlighted Links Modern Technology Corp
Anthony Welch, Chairman of Modern, said: "Shareholders can expect continued strong growth and results. This year will be an important year for us. So far this year, we have reported record results and have an active acquisition pipeline. Shareholders can expect a busy year at MOTG."
The company's present Earnings-per-share is expected to improve with each passing month throughout 2006 through cost reductions and expected additions to operations.
About Modern Technology Corp
Modern Technology Corp, a diversified technology development and acquisition company, builds revenues through continuous growth, strategic acquisitions, and commercialization of nascent technology. MOTG improves operating efficiencies through the elimination of cost redundancies and realized synergy between subsidiaries. MOTG also commercializes new technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to build shareholder value through a model of continuous growth. Web Address: http://www.moderntechnologycorp.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities
Posted by Katrina7 on :
al---I KNOW you didn't send out those photos! How many shares did you have to give up Bin? Tell me a lot.
BTW: Where is RB? Travelling?
Posted by binsleep on :
Kat,
Actually, I just had to buy Al a beer.
Thanks again, buddy! Posted by Katrina7 on :
RB, dude...we posted that PR on the last page, and there's been another since.
How are you? Watcha think?
One beer, hahahahaha Bin, it musta not been the photos I'm thinking of....
Posted by Aldeberon on :
Bin, no worries. I'm a cheap date
I think Harvey's pride got hurt when an OTC trading at .03 offered to buy them out. They trumped the "sophisticated" nature of Harvey's new investors today, basically laying a slap in the face of "unsophisticated" MOTG. We'll see how sophisticated Harvey's investors are when they dump 1.7 million shares into the float and get delisted from the Nasdaq in a few months
Bin, those pictures are for your eyes only!
Posted by Zosyn on :
I don't know. I read between the lines on the HRVE pr yesterday. If you read past what it's actually saying, "in print" it seems to say to me
1) We're okay with being bought. 2) We're okay with being bought by MOTG, but... 3) We're going to put out this POS pr saying get your act together, we're okay with being purchased if you OR ANYONE ELSE offers us a better deal 4) Resubmit you proposal to buy us and if we don't get a better deal from anyone else, we're okay with it.
Just my opinion. I'm holding my shares and buying up cheap shares today.
Posted by binsleep on :
Al: Gotcha! Posted by DWS on :
Modern Technology Corp Issues Update on Harvey Tender Offer
By Market Wire Last Update: 4/18/2006 1:50:33 PM Data provided by
OXFORD, MS, Apr 18, 2006 (MARKET WIRE via COMTEX) -- Modern Technology Corp (MOTG), a diversified technology development and acquisition company, released today an update on its Tender Offer to acquire Harvey Electronics (HRVE).
On April 17th, 2006, Harvey Electronics released an announcement asserting our Tender Offer to be invalid due to certain 'deficiencies.' We disagree and maintain the commencement of a Tender Offer to be a valid commencement under applicable securities regulations.
On April 18th, Harvey Electronics released an announcement regarding a change of the Board and of a financing arrangement. This represents a significant material event requiring careful study.
We may increase, decrease, or entirely withdraw our Tender Offer based on our analysis.
Anthony Welch, Chairman, said: "Today's announcement from Harvey Electronics changes the picture for us and every stockholder of Harveys. We will carefully review the financing agreement and update our Tender Offer accordingly."
About Modern Technology Corp
Modern Technology Corp, a diversified technology development and acquisition company, builds revenues through continuous growth, strategic acquisitions, and commercialization of nascent technology. MOTG improves operating efficiencies through the elimination of cost redundancies and realized synergy between subsidiaries. MOTG also commercializes new technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to build shareholder value through a model of continuous growth. Web Address: http://www.moderntechnologycorp.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
SOURCE: Modern Technology Corp
Posted by bobcat88 on :
Sounds like we got a fight.
Posted by binsleep on :
Quick Welch, give 'em the Stooge Slap!
Nyuck, Nyuck...
Posted by binsleep on :
For MOTG to stay even today with everything that's happened, I would say that is a good thing. Keep your heads up guys.
Posted by Katrina7 on :
For any of you without L2, here's what I observed today. There were a lot of nice buys since the INM news came out, followed by tinyy 5000 sales to keep the price down. I think the mms are manipulating the hell out of this stock. Everytime several nice buys went through UBSS or NITE came in under the ask...
Posted by hawkdriver on :
Hi. I just got typing a long post but then I refresed the screen and my post was gone. Anyway Hi I never post but my neighbors brought over two bottles of a delicious dry franconian wine. I love germans they have great taste. Anyway here is my two cents (remember I am drunk so this is only worth .018 cents. (Forward Looking of course). MOTG is a solid company with or without HRVE. Aquiring HRVE would have made an awsome PR, and strong financials for the short term (which is what most of us bank on), but I what I think is important for MOTG is that it's portfolio companies continue to increase their revenues. IMHO MOTG will eventually start seeing slow but steady growth.
(SAFE HARBOR STATEMENT: Remember I have been drinking so everything I just got done typing means nothing. (I am in Germany so it is the right time to drink), also I was in NDOL and ABZT so I have to celebrate a little. Good Luck to all of you, and thanks for the news and advice you keep posting.
Posted by Stocktrader20 on :
quote:Originally posted by Aldeberon:
quote:Originally posted by Zosyn: posturing. they want more money from MOTG...
I wish I could say I agree. But this is a large-scale move by Harvey. They are replacing the entire board with members of the investment team, leaving only the CEO and CFO. Additionally, the company is printing 1.7 million convertible shares for the investment team. It looks like Harvey has taken matters into their own hands.
This does not, however, mean that they are going to get themselves above $1.00 long enough to remain listed. There is still room for MOTG here if the market does not react by blowing HRVE over a buck. This group of investors is planning on remodeling stores and building new ones. That takes time, which is something HRVE does not have. Anyone know how many more months HRVE has before getting delisted?
Part of me thinks Harve's new investors are going to find their $4 million invested in an OTCBB very soon.
They're going down, we're going up.
HRVE will be delisted off the Nasdaq on June 19th I believe. And as for the announcement from HRVE yesterday, HRVE shareholders arent really in a better situation at all, they are just renovating their stores, not really adding any significant amount of revenue and HRVE will see significant dilution considering their current O/S count. After thinking about it, this might just workout for MOTG. BTW, Welch said yesterday, he viewed yesterdays announcement from HRVE as a positive...
Posted by Stocktrader20 on :
bellwetherreport.com: The Bellwether Report takes keen interest in Modern Technology Corporation
Last Update: 4/19/2006 3:32:36 AM Data provided by
Apr 19, 2006 (M2 PRESSWIRE via COMTEX) -- Modern Technology Corporation (MOTG), is a company that our research team will be tracking over the ensuing weeks. They recently came out with a significant corporate development, causing a market stir. The BWR Research Team will continue to bring its subscribers cutting edge research tools, and second to none customer service.
Modern Technology Corporation a diversified technology development and acquisition company who builds revenues through continuous growth, strategic acquisitions this afternoon released an update on On April 17th, 2006, Harvey Electronics released an announcement asserting our Tender Offer to be invalid due to certain 'deficiencies.' We disagree and maintain the commencement of a Tender Offer to be a valid commencement under applicable securities regulations.
On April 18th, Harvey Electronics released an announcement regarding a change of the Board and of a financing arrangement. This represents a significant material event requiring careful study.
We may increase, decrease, or entirely withdraw our Tender Offer based on our analysis.
Anthony Welch, Chairman, said: "Today's announcement from Harvey Electronics changes the picture for us and every stockholder of Harveys. We will carefully review the financing agreement and update our Tender Offer accordingly." The Company also announced that there subsidiary; INmarketing Group anticipates the first three months of 2006 to be the strongest quarter in its history and should exceed projections.
INmarketing's audited financials were recently filed demonstrating impressive year-on-year growth. The rapid growth continues with a record-breaking quarter and moves this important subsidiary closer to its projected $14,000,000 in revenue for 2006.
INmarketing's results are fully consolidated and will be reported as part of our upcoming Form 10Q-SB filing. We anticipate our revenues to be in excess of $4,600,000.00, which represents a 300% increase over the same period last year.
Anthony Welch, Chairman of Modern, said: "Shareholders can expect continued strong growth and results. This year will be an important year for us. So far this year, we have reported record results and have an active acquisition pipeline. Shareholders can expect a busy year at MOTG."
With this announcement, Modern Technology Corporation shares traded fairly flat at just under $0.03 a share on volume which is above the daily average. If the financial results are anywhere near expected I feel we could see this company really take off. One of the company's biggest struggles is getting investors eyes on themselves as they are obviously something investors would be interested in. The BWR Research Team will continue to follow the market sentiment on this company and numerous others.
To review research on small cap companies like Modern Technology Corporation as well as many more exciting articles we encourage you to visit www.bellwetherreport.com. You can find these reports under the "Today's Articles" section. No credit Card Needed!!
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Posted by Katrina7 on :
Good morning all, thanks for that post trader20. Here is the part I like best: "If the financial results are anywhere near expected I feel we could see this company really take off."
I'm ready for take off. Ya'll strapped in and ready to go?
I think we are going to see a slow upward trend until the release of the Q. We need to prove we are on target for the $25 mil, and this quarter should be the start of that.
Posted by Ragedbull777 on :
Nice to see a PR on MOTG. At this point anything is welcome. GLTA
Posted by Aldeberon on :
quote:Originally posted by Zosyn: I don't know. I read between the lines on the HRVE pr yesterday. If you read past what it's actually saying, "in print" it seems to say to me
1) We're okay with being bought. 2) We're okay with being bought by MOTG, but... 3) We're going to put out this POS pr saying get your act together, we're okay with being purchased if you OR ANYONE ELSE offers us a better deal 4) Resubmit you proposal to buy us and if we don't get a better deal from anyone else, we're okay with it.
Just my opinion. I'm holding my shares and buying up cheap shares today.
I don't entriely disagree here. They definitely wanted to maintain their pride and their "top of the line" image in the market, while still leaving the door open a crack and making MOTG rise up to the occassion. I don't think HRVE has helped ANY company save them at this point, now Welch or any other will simply have to buy more shares to have 51% stake and deal with brand new management.
If Harvey doesn't get their act together quickly, they are going to price themselves out of the market, and get themsleves delisted. It's not like MOTG needs their revenues. But HRVE sure as hell needs to get that delisting notice revoked!
Like I say, Harvey's going down, we're going up!
Posted by CMoney on :
My trigger finger is beginning to itch.
Posted by Ragedbull777 on :
quote:Originally posted by CMoney: My trigger finger is beginning to itch.
I hope the gun is not loaded. It's not the end of the world. Get a grip. Posted by Ragedbull777 on :
Wow, where has everyone gone. Only 7 posts today. All we have is hope and a bunch of shares. Posted by Katrina7 on :
Good morning everyone
We've had a whopping 3000 shares traded so far. Which should tell the mms that there arent many people willing to give up shares at these prices (except you Bin!)
Ya'll hang in there. We will go up up up with the Q. Let's try to stay on page 1....
Posted by binsleep on :
quote:Originally posted by Katrina7: Good morning everyone
We've had a whopping 3000 shares traded so far. Which should tell the mms that there arent many people willing to give up shares at these prices (except you Bin!)
D'oh! Owned Posted by Katrina7 on :
sorry bin....couldn't resist
Posted by binsleep on :
I don't recall anyone else here speculating on this, but does anyone else find it interesting that the conversions seemed to stop upon the original HRVE announcement?
Posted by Stocktrader20 on :
I think its very possible a group of investors loaded up on MOTG in the past few months. Ive seen this happen with other OTC stocks trading near the low and those stocks reached new highs. Stocks can be manipulated up just as they can be manipulated down like we have seen with MOTG the past several months. Hope you got back in binsleep, the next couple of months will be very rewarding IMO.
Posted by binsleep on :
Stocktrader, you could be right, but how would that help to explain the halt of conversions?
My thoughts are this. Since Welch went back to AJW to secure additional financing for the HRVE deal, maybe they stopped converting their shares because:
1) MOTG is now a repeat customer (not likely) or 2) They have high hopes for the HRVE deal which would "sweeten the pot" and are waiting to convert at a much higher PPS.
Not that it matters all that much, but it is worthy of speculation I think.
As for my MOTG shares, I'm pretty upset that I sold them in a panic, but it's also been nice to watch this stock from the outside without having an emotional attachment to it. I plan to re-enter, hopefully, before the big run. Right now, I'm joining the crowd and working on some oil and ethanol plays.
Posted by dooglearchie on :
MOTG DD reference page for sideliners/newbies April 20th 2006
The longs already in MOTG think it’s a great OTCBB gamble right now but that’s just our opinion & in this casino…gambles are always in motion. Everyone must do their own due & make their own decisions….speculation, risk, reward etc. is up to each individual to determine on their own….
Company Intro:
Modern Technology Corp, a diversified technology development and acquisition company, builds revenues through continuous growth, strategic acquisitions, and commercialization of nascent technology. MOTG improves operating efficiencies through the elimination of cost redundancies and realized synergy between subsidiaries. MOTG also commercializes new technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to build shareholder value through a model of continuous growth. View the company Web Address at the following link:
Check out the company website after you’ve scanned this post & read the recent press & filings(links below) to learn more about all of MOTG’s subsidiaries/alliances of the past year.
CURRENT SPECULATION BY LONGS ON THIS BOARD:
-Next 10QSB due May 15th, 2006…MOTG recently confirmed via PR a 300% increase in year over year revs. -Significant developments in the pipeline according to CEO which will benefit the current crop of holders – think along the lines of possible dividends or spin-offs as their website suggests! -Initial HRVE Tender Offer expires May 1st, 2006. Should HRVE’s holders accept MOTG’s offer, MOTG would acquire a 51% majority interest & then consolidate 100% of HRVE’s $40 million revenues into their books. This will give MOTG $65 million in revenues and a current O/S of approx. 70 million shares(closest approx. by longs on this board) -The recent HRVE PR with the BOD re-shuffling & coming dilution seems to suggest MOTG will re-submit a lower offer
Thoughts/Analysis on current capital structure:
Current A/S: 150 million shares Current O/S: Approx. 70 million shares Current restricted shares all held by CEO Welch: Approx. 13 million shares Current trade-able float: Approx. 57 million shares
More Capital Structure Info:
SB2 from 07/08/05 for $2 million to facilitate future acquisitions carried an original 98 million share maximum ceiling. At the time the O/S was approx. 15 million shares & since then has increased to 70 million shares. Therefore approx. 55 million SB2 shares have already been added to the float. The convertibles are structured such that the higher the share price the less SB2 shares can be converted.
More thoughts:
The company has already attained their initial goal of $20-$25 million in 2005 revenue and that the goal going forward is a $65 million revenue run rate by the end of this fiscal year. MOTG’s fiscal year end is June 30th.
The only uncertainty is what their capital structure will eventually look like moving forward but remember MOTG’s authorized is only 150 million shares.
MOTG CEO:
Anthony Welch Phone # 662-236-5928 Email: Anthony * moderntechnology dot com
CEO Background:
Mr. Welch is the original founder of the public company IPVoice Communications (which recently changed its name to NewMarket Technology, symbol: NMKT). He also served as the company's executive vice president and chief technology and industry strategist. IPVoice (NewMarket) was one of the first Internet Telephony companies in the industry and the first to design and implement integrated telecommunications real-time data-management theory into the new hybrid Internet Telephony technology. In addition, Mr. Welch led the company to deploy its own nationwide private telecom network based on Internet Telephony with integrated network and billing management platforms. During his involvement with the company, IPVoice Communications achieved approximately $100,000,000 market capitalization.
MOTG Company Contact: Megan Peterson 662-236-5928
READ THE PRESS RELEASES:
To get a further gist on MOTG’s immediate future read the most recent company PR’s…following is a great link to all the recent press including the CEO interview from Monday April 10th 2006:
The best place to get all the official MOTG #’s & information to assist you in making your own determinations is of course the official filings. You can view MOTG’s filings at the SEC link provided below:
By monsterstock: Even if the A/S was fully diluted…if you take the current $25 million figure for revenue and divide that by 150 million shares, you get .16 a share. Now clearly this is a wild eyed guess analysis but it shows the potential, considering the current share price!
By tomassi: What I really like best about their business model is that if executed, they grow exponentially. That means if they use the synergies of their companies and make profits they can acquire lots of new companies and so on. MOTG a growing big player!
By londonboyridesagain-edited Sound City acquisition last year is in a relatively weak sector but HNet technology is being revised & relaunched & MOTG has expanded their footprint with the Dec. ’05 InMarketing acquisition and DeMarco is in the very strong Energy Sector. MOTG is making new acquisitions all the time it looks like, so I am more interested in what the numbers for MOTG will be YEAR END 2005(June 30th 2006). With MOTG's speed of acquisitions, I don't fear any weakness in the smaller components. MOTG is delivering and it's the results of 6 months from now that interest me more.
Posted by binsleep on :
Welcome back, Jag Posted by dooglearchie on :
thnx bin - hey I'm playin' 6 momo tables today in addition to my MOTG. So don't get left behind would be my only advice...Welch returns next Wednesday & from that point on I believe the "mojo" factor will be in! Best to u
Posted by Stocktrader20 on :
doogle, Thanks for the DD post, I gave you 5 stars.
Posted by dooglearchie on :
thnx stocktrader - MOTG's FUD phase is going to be rapidly replaced with the mojo phase over the course of the next 30 days IMO. It's an extremely important moment in MOTG's history & I expect the developments to more than solidify the reasons for our early entries there. No sense buying when everyone else is! When you have an opportunity to enter before the masses it's always easier to make the large chips! Best to u & I'll return the 5 stars right now:)
Posted by Stocktrader20 on :
Yeah, the FUD has took its toll on the shareprice the past several months with some dilution also. But it has also provided a good buying opportunity for those willing to take the chance here in the .02s Ive been watching MOTG since the .04s in Jan but didnt take a position till the mid .02s, Ive only been in MOTG less than 4 weeks but,I like what I see so far and things are shaping up nicely. And after contacting the ceo through email the past few weeks, Im very confident. But even without HRVE or any other acquisitions we still have a low O/S, this is still a good bet. I dont see many $25 million a year revenue companys with an O/S of only 70 million trading in the .02s, Besides confirmation on the acquisition, we just need the quarter filing to be near the companies projection or excede it and for the quater filing to be filed on time. And we will see a new group of investors get in on this but, at a much higher price. I can see this reach the 52 week high with ease depending on the filing, and the acquisition news, ect... The next few weeks will be very interesting IMO.
Posted by dooglearchie on :
excellent read stocktrader...I share many of the same sentiments which is why I jumped back in April 3rd:) Approx. 40 million shares hit the float the past 4 months with no material developments so obviously the drain on the pps was unavoidable. But the best part is that the 4 month FUD phase is complete & now the opportunity that awaits is evident on multiple levels. I'll say more later but for now the best way to view MOTG for an outsider is to connect all the available dots! There's a sweet pipeline of significant events on the immediate horizon & no place for the pps to go but up:) Best to u & ttyl
Posted by Katrina7 on :
seeing some nice buys go through in the last ten minutes...wondering if there is news on the horizon
good to have you back, jag...we missed you.
Come on MOTG.! Our time has come, longs...let's stay on the front page!
Posted by CMoney on :
Finished at HOD. I dont know whats going on, but I like it
Posted by Aldeberon on :
Bin,
I'm not sure, but it seems to me like Welch and AJW have timed the conversions to the news releases. Has anyone else noticed that? On the day of a big news release, there seems to be some dumping going on, presumably to hide it. Just a thought.
Looking at a chart, we sure have developed a resistant point at .034. How embarrasing is that? Given I own shares at .063
There's some buzz on the boards, we may see a small gain in pps as people buy on rumor, like back when all those Hnet rumors were flying around. We might also see some accumulation the week before the Q. The filing date has been well broadcast on the boards.
GL
Posted by binsleep on :
Bump...
Going to try and pick up a few shares today if I can get them under .03. Looks like it's going to be tough, though. Wish me luck.
Posted by bobcat88 on :
Good luck bin! I'm going to try and dump a few over .05 today. Same thing, looks like it might be tough...........wish ALL of us luck on that one!
Posted by Stocktrader20 on :
Good luck, I picked up some shares about a week and a half ago at .0265, It brought my average up slightly but, still below .025 though
Posted by binsleep on :
quote:Originally posted by bobcat88: Good luck bin! I'm going to try and dump a few over .05 today. Same thing, looks like it might be tough...........wish ALL of us luck on that one!
Hehe, Hopefully not until after I'm in! Posted by binsleep on :
Hmm...I can't even get a measly 15000 at the ask right now! Give 'em up you stingy *******s! Posted by binsleep on :
Ok, nevermind...I got 'em
Thank you, whoever you are.
Posted by Katrina7 on :
stocktrader, please don't discuss your average again, we longs may have to kill you....lol
Well, thanks to Bin's big buys this morning, we have brought our volume up to 81,000! Wow! (Bin, don't sell again without consulting me first, okay honey)
Again, no one is selling here, and I think we are going to pop very soon...good luck everyone and let's stay on the front page.
HRVE trading back in the 8s again!
Posted by binsleep on :
quote:Originally posted by Katrina7: (Bin, don't sell again without consulting me first, okay honey)
Hehe, owned again.
I had a "Chicken Little Moment"
This isn't even close to what I had before, but at least I'm back in. I'll most definately pick up more as I free up capital. Good Luck all, we are LONG overdue!
Posted by Stocktrader20 on :
LOL Katrina, I may even add more MOTG shares if we see .025 again but, I dont think ill have that opportunity here soon. And as for the low volume the ask is stacked pretty high from .029-.032 so, that discourages any buying and MMs are just trying to get sellers but, we dont have many sellers at this pps.
Posted by Ragedbull777 on :
Hope everyone has a good weekend. GO MOTG! Please go! Posted by Stocktrader20 on :
ARCA on the bid for a boatload.
Posted by CMoney on :
See ya Monday, same bat station, same bat channel
*BUMP
Posted by Ragedbull777 on :
Maybe MOTG will make some kind of move this week. North is the direction I am looking for. Posted by binsleep on :
Someone on another board said that Welch is out of the office until Wednesday. I wouldn't expect anything in the PR department until he returns. However, we may see little moves upward as people start accumulating ahead of the Q.
It seems that Anthony would also want to release at least one more PR regarding HRVE once they have reviewed the terms of HRVE's supposed new financing and BoD changes.
In any event, should be an interesting couple of weeks here Posted by binsleep on :
.028 new HOD
Posted by binsleep on :
Anyone got any new info?
Posted by Katrina7 on :
some nice buys have gone through in the last few minutes...maybe news on the way?
here's hoping!
hope everyone is doing well
Kat
Posted by Stocktrader20 on :
.03
Posted by binsleep on :
We should all chip in and buy AW a mobile device, so he can send in PR's while he's out of town. The suspense is killing me! Posted by Stocktrader20 on :
If hes out of town till tomorrow, I would expect news later this week.
Posted by binsleep on :
Hopefully, he's out working on a new deal
We need something to blow Wall St. away!
Posted by Aldeberon on :
quote:Originally posted by binsleep: We should all chip in and buy AW a mobile device
Yeah so we can all heckle him on it too!
Posted by Ragedbull777 on :
29 x 30, last trade .03. Volume is better than yesterday. Posted by Stocktrader20 on :
Seeing a little buying pressure here.
Posted by Ragedbull777 on :
quote:Originally posted by binsleep: .028 new HOD
binsleep, did you get back into MOTG?
Posted by Katrina7 on :
hey guys some nice buys going through, someone is testing ubss...see how much he wants to give up down here...maybe some news on its way....
Posted by binsleep on :
RB: Yes, but I don't have nearly as many shares as I held before. I've been playing some other stocks to try to recoup the losses. I'm planning on buying more MOTG as funds become available.
Posted by Ragedbull777 on :
quote:Originally posted by binsleep: RB: Yes, but I don't have nearly as many shares as I held before. I've been playing some other stocks to try to recoup the losses. I'm planning on buying more MOTG as funds become available.
My stock are doing well today. most are green.
One is up 100% and anothe is is up 24% Posted by dooglearchie on :
I also agree that news should hit shortly after Welch's return. I also have a great feeling that a couple of significant announcements are pending! And fwiw I'm not talking about HRVE follow-up offer! Call it intuition based on some well placed calls...best to all & as always...all JMO:)
Posted by Ragedbull777 on :
Whats up dooglearchie, how are the momo's working for you?
Posted by binsleep on :
Nice to see some volume today. Someone is accumulating.
Posted by binsleep on :
Whatever happened to tech1? Did he bail?
Posted by Katrina7 on :
I think he sold half and held the rest, he is really busy at work
Posted by binsleep on :
Is Welch supposed to be back in the office today? It's been more than a week since the last PR and we could really use some guidance.
On a side note, I've been pretty impressed with the steadiness of the share price. We know where our base is, now let's get this train rolling to bigger and better things!
Posted by binsleep on :
Set off two alerts with yesterday's action:
Dallas, Texas, Apr 26, 2006 (M2 PRESSWIRE via COMTEX) -- Stock Guru Alerts for Wednesday include Creative Vistas, Inc. (CVAS), Fusa Capital Corporation (FSAC), Invicta Group, Inc. (IVGA), and Modern Technology Corp. (MOTG).
Weston, FLA., Apr 26, 2006 (M2 PRESSWIRE via COMTEX) -- Wall Street News Alert's "stocks to watch" this morning are: Datascension, Inc. (DSEN), Atheros Communications Inc. (ATHR), Modern Technology Corp (MOTG), CDW Corp (CDWC) and Mindspeed Technologies, Inc. (MSPD).
Posted by binsleep on :
Is it me, or is this .03 hurdle a little taller than the rest?
C'mon guys, I'm starting to talk to myself here. Posted by Aldeberon on :
quote:Originally posted by binsleep: C'mon guys, I'm starting to talk to myself here.
I thought you were doing a pretty good job carrying the forum there Bin
Welch comes back tomorrow right? Is there any confirmation on whether or not this was a business trip? IS there any chance he may have been in New Jersey? Posted by trade04 on :
is it me or does it smell like wet bags...lol jk
Posted by binsleep on :
Al,
I think he left late last week. For a business trip within the U.S., I don't see why he would do that, so we could speculate that he was overseas. Maybe working on something for EGVI? Who knows, he's got his hands in so many cookie jars now that its really tough to say.
Trade: I thought you were gonna change those under-gotchies? Posted by binsleep on :
EGVI did hold a summit yesterday in Cambridge, England to which Victor Demarco was supposed to attend. Maybe AW went to check things out?
Thanks Al, but it actually stemmed from boredom and my curiousity
We need some meat!!!
Posted by Ragedbull777 on :
quote:Originally posted by binsleep: Thanks Al, but it actually stemmed from boredom and my curiousity
We need some meat!!!
Anyone for another stock picking contest? Let me know. Posted by binsleep on :
RB: NDOL
Posted by Aldeberon on :
Didn't Admin shut the last one down?
Posted by binsleep on :
Can someone who has a rep with a Welch ask him if HRVE is still in consideration? Some guidance on this front would be nice seeing as how the original May 1st deadline is fast approaching.
Posted by Ragedbull777 on :
quote:Originally posted by Aldeberon: Didn't Admin shut the last one down?
Not ours. Let me know your pick. TIA
Posted by Ragedbull777 on :
My is DDSI. Posted by CMoney on :
Can you have the same pick as someone else?
Posted by Stocktrader20 on :
TwinTrader.com: TwinTrader.com Alerts for Friday, April 28, 2006 EMFP, FECOF, MOTG, MHOI and UDHI.
Dallas, Texas, Apr 28, 2006 (M2 PRESSWIRE via COMTEX) -- TwinTrader Morning Alerts. Here are the stocks the TwinTraders are watching today: Emergency Filtration Products (OTCBB: EMFP), FEC Resources Inc. (OTCBB: FECOF), Modern Technology Corp. (OTCBB: MOTG), MRU Holdings, Inc. (OTCBB: MHOI), Union Dental Holdings, Inc. (OTCBB: UDHI)
Posted by Stocktrader20 on :
.03x.0305
Posted by binsleep on :
First time I've seen the ask over .03 in quite some time. Whee! Posted by CMoney on :
Everybody holding or not should add this to their watchlists for Monday.
Posted by Stocktrader20 on :
Got another stock alert today.
Stockguru.com: Guru Alerts for Monday, May 1, 2006 RPBIF, KNGS, ADVC, MOTG
Dallas, Texas, May 01, 2006 (M2 PRESSWIRE via COMTEX) -- Stock Guru Alerts for Monday include Response Biomedical Corporation (OTCBB:RPBIF), The Kingsley Coach Inc (OTCBB: KNGS), Advanced Communications Technologies Inc (OTCBB: ADVC), and Modern Technology Corp. (OTCBB: MOTG).
Posted by Stocktrader20 on :
Level II on the bid side looking strong.
Posted by binsleep on :
Wow, we haven't seen anything over .03 in awhile. This is an unexpected surprise Posted by Stocktrader20 on :
.032x.033
Posted by binsleep on :
.033x.034
Posted by Stocktrader20 on :
.034x.034
Posted by binsleep on :
People may be expecting an announcement since today is the original deadline from the HRVE TO.
Posted by Ragedbull777 on :
Anyone know why the move up?
Posted by CMoney on :
Im thinking bins theory sounds pretty on point
Posted by CMoney on :
And we hit a few watch lists over the past few days
Posted by Stocktrader20 on :
Press Release Source: WallStreet Direct, Inc.
EGVI and AA Update the Investment Community in All-New Interviews with www.wallst.net Monday May 1, 7:00 am ET
NEW YORK, May 1 /PRNewswire/ -- On March 15, Anthony Welch, Chairman and CEO of Energy Vision International (Pink Sheets: EGVI - News) updated the investment community in an all-new interview with http://www.wallst.net . Interview highlights include detailed discussions on the following topics:
-- reasons the company requires 'very little cash' to operate -- trends in the market that bolster the company's near-term growth prospects -- long-term growth strategy -- reshaping the mission of the company -- key executives at the company -- why the company is 'well-poised' for the future -- reasons the company has a competitive edge in the marketplace -- upcoming milestones for investors to watch for
On April 11, Kevin Lowery, Vice President of Corporate Communications for Alcoa, Inc. (NYSE: AA - News) updated the investment community in an all-new interview with http://www.wallst.net . Interview highlights include detailed discussions on the following topics:
-- key drivers behind the company's record first-quarter profit -- steps the company is taking to capitalize on opportunities in emerging markets -- how the company can offset rising energy costs -- recent labor strikes, and what steps the company has taken to keep operations running -- reasons the company is well-suited to be a global player -- milestones for investors to watch for
To hear the interviews in their entirety, visit http://www.wallst.net , and click on "Interviews." Interviews require free registration, and can be accessed either by locating the respective company's ticker symbol under the appropriate exchange on the left-hand column of the "Interviews" page or by entering the respective company's ticker symbol in the Search Archive window at the bottom of the "Interviews" page.
www.wallst.net is owned and operated by WallStreet Direct, Inc., a wholly owned subsidiary of Financial Media Group, Inc. The website is a leading provider of financial news, media, tools and community-driven applications for investors. www.wallst.net offers visitors free membership to its in-depth executive interviews, exclusive editorial content, breaking news, and several proprietary applications. In addition to its website, WallStreet Direct organizes investor conferences, publishes a newspaper, and provides multimedia advertising solutions to small and mid-sized publicly traded companies. We have received six hundred seventy five thousand free trading shares of EGVI from a third party for media and advertising services for Energy Vision International. For a complete list of our advertisers, and advertising relationships, visit http://www.wallst.net/disclaimer/disclaimer.asp .
Contact: Nick Iyer Digital Wall Street, Inc. 1-800-4-WALL-ST
Posted by CMoney on :
Huge buys going thru
Posted by CMoney on :
binsleep, your pick for the contest is pretty active today
Posted by Ragedbull777 on :
quote:Originally posted by CMoney: Can you have the same pick as someone else?
Yes,
Posted by Ragedbull777 on :
Okay guys and gals, pick a stock for our contest.
binsleep has NDOL ragedbull has DDSI
Anyone else?
Posted by CMoney on :
NDOL for me too
Posted by Ragedbull777 on :
Where's Katrina?
Posted by binsleep on :
quote:Originally posted by CMoney: binsleep, your pick for the contest is pretty active today
C$, yeah, NDOL has been a scorcher for the past couple of weeks. People were expecting a PR announcing the move to the OTCBB today, but it looks like it may come tommorrow instead. There is also a buyout offer on the table.
Posted by trade04 on :
sttk its still early!! im in at .44
Posted by CMoney on :
well that's two Pr's Im waiting for, that one and the MOTG PR about MOTG
Posted by binsleep on :
news out
Posted by binsleep on :
Modern Technology Corp Issues Update on Harvey Tender Offer Monday May 1, 1:47 pm ET
OXFORD, MS--(MARKET WIRE)--May 1, 2006 -- Modern Technology Corp (OTC BB:MOTG.OB - News), a diversified technology development and acquisition company, released today an update on its Tender Offer to acquire Harvey Electronics (NasdaqSC:HRVE - News). ADVERTISEMENT
On April 17th, 2006, Harvey Electronics released an announcement asserting our Tender Offer to be invalid due to certain 'deficiencies.' We disagree and maintain the commencement of a Tender Offer to be a valid commencement under applicable securities regulations.
On April 18th, Harvey Electronics released an announcement regarding a change of the Board and of a financing arrangement. This represents a significant material event requiring careful study.
Based on our assessment of their new financing arrangements and the surrounding agreements, we have decided to temporarily withdraw our Tender Offer.
Anthony Welch, Chairman, said: "We consider our present offer of $1.15 per share for Harveys as now too high in light of the new financing arrangements recently executed by them. We believe Harveys' new financing arrangements will likely be very dilutive to the Common Stock and the surrounding agreements to this financing to be burdensome to any potential positive free cash-flow Harveys may generate from its proposed expansion that would otherwise offset the dilution. Therefore, we do not believe Harveys will achieve a greater market capitalization under these circumstances and in fact believe the opposite. Furthermore, Harveys faces imminent delisting from NASDAQ to the OTCBB. The combination of these elements forces us to pause to re-assess Harveys' value after the stock underlying the financing has been fully registered and some time has passed. We may file a new Tender Offer after the market has fully priced in these new developments. Our goal is to build value for MOTG stockholders, and Harveys may yet prove to be a valuable addition to the MOTG portfolio in the future."
About Modern Technology Corp
Modern Technology Corp, a diversified technology development and acquisition company, builds revenues through continuous growth, strategic acquisitions, and commercialization of nascent technology. MOTG improves operating efficiencies through the elimination of cost redundancies and realized synergy between subsidiaries. MOTG also commercializes new technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to build shareholder value through a model of continuous growth. Web Address: http://www.moderntechnologycorp.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact: Company Contact: Megan Peterson 1.662.236.5928
Modern Technology Corp 1420 North Lamar Blvd. Oxford, MS 38655 USA Phone: +1.662.236.5928 Fax: +1.662.236.7663 Web: http://www.moderntechnologycorp.com Posted by binsleep on :
Sounds like Welch is telling HRVE "Nice job with the new financing boys....good luck with that "
Posted by CMoney on :
I had a feeling they AW wasnt going to like the new financing. He straight dogged their future in this PR. He needs to tell us what else is on the horizon though.
C$
Posted by Ragedbull777 on :
At least we got that out of the way. On to bigger and better things.
Posted by binsleep on :
quote:Originally posted by CMoney: I had a feeling they AW wasnt going to like the new financing. He straight dogged their future in this PR. He needs to tell us what else is on the horizon though.
CMoney, I agree. Some new guidance is definately in order. He's been touting the large revenue numbers for a long time. I agree that we are due for a significant revenue bounce when the Q comes out in a couple of weeks, but we need an idea as to what direction he plans to take us.
Posted by binsleep on :
That PR is funny, I wonder if HRVE will send a rebuttal.
Posted by Aldeberon on :
Hey guys. Kat is in California with her family.
That pr really laid it out for Harvey, huh?
"we have decided to temporarily withdraw our Tender Offer..." "We consider our present offer of $1.15 per share for Harveys as now too high..." "We believe Harveys' new financing arrangements will likely be very dilutive to the Common Stock..." "... we do not believe Harveys will achieve a greater market capitalization under these circumstances and in fact believe the opposite..."
Looks like no one really understands the rationale behind Harvey's move. Welch gave a nice slap here by saying they are effectively gong down as a result of their restructuring. I think Welch has done the right thing. No use paying top dollar for a company getting delisted in a month. Prices will be cheaper when they are an OTC
Now how the market is going to react here remains to be seen. No massive sell-off here.
Let's not forget the 10Q is coming out in less than 2 weeks. Should be fun Posted by trader_124 on :
well i think when hrve will be on the otcbb, it will be a good time to buy cos the price wont stay at 0.86 if theres no rs
Posted by Stocktrader20 on :
Yep, good point, June 19th HRVE shares will be at a discount after they are placed on the OTC.
Posted by trader_124 on :
well i think when hrve will be on the otcbb, it will be a good time to buy cos the price wont stay at 0.86 if theres no rs
Posted by binsleep on :
There is talk on RB that Welch had a bundle of roofing material fall on his car while parked in front of his hotel. Apparently, he is suffering from head injuries. Anyone know if this is true or not?
Posted by Ragedbull777 on :
I hope he's okay. Those HRVE people are something else.
Posted by Aldeberon on :
"There is talk on RB"
Those words alone always make me wary
I talked to Kat after today's pr came out. She's planning on emailing Welch tomorrow when she gets back. We'll know if the "accident" actually happened.
If this was indeed a hit by the Harvey mafia then a retaliation by the MOTG mafia is definitely in order Posted by Ragedbull777 on :
This may require a hostile takeover. Posted by binsleep on :
quote:Originally posted by Aldeberon: "There is talk on RB"
Those words alone always make me wary
Al, typically I'd agree, but one of the people talking is Jag/Momo (dooglearchie). He may be long winded, but he's reputable. I asked yesterday how they discovered this, but haven't received a response as of yet.
I'm sure he's going to be okay, I just worry about the negative impact on the stock if he's going to be away for a long period of time. While we only noticed a small loss of support yesterday, it was a loss nonetheless. We may see a bounce with the quarterly filing, but we can't expect that alone to give us the boost we are looking for.
On a side note, I'm going to be looking to pick up more MOTG shares today if my NDOL news is released :
Posted by Katrina7 on :
Hey Guys
Always in CA when the news comes!
Well, disappointed about HRVE. I emailed him to see if that deal was totally done.
Guess we are all waiting till the Q for some solid numbers. Should be out mid may.
Hope everyone is doing well and making money!
Kat
Posted by Ragedbull777 on :
Volume is brisk this morining. Over 629K already.
Posted by Ragedbull777 on :
Make that almost 900K. Cool.
Posted by Stocktrader20 on :
Over 1 million shares traded in the first 15 minutes.
Posted by Katrina7 on :
Hey Guys
Heard back from AW immediately after I emailed so I believe his head is okay, althought I didnt ask.
He said he thinks hrve will be cheaper in the future, didnt tell me if the deal was dead. He said news redgarding positive EPS coming.
thats all I got....
Posted by Stocktrader20 on :
Thanks for the info Kat... Nice. Did you get that response this morning?
Posted by Katrina7 on :
stocktrader--yes
Posted by WarpedMind on :
Hi guys. Remember me? :-)
Posted by just_25 on :
Hello everyone! I got out of micro stock for a couple months but got back in yesterday with all the oil plays! I'm still holding my position in MOTG, it's red but I'm not worried. Is everyone still fighting over Kat!!! Posted by Aldeberon on :
Warped Mind.... Warped Mind...
Aren't you that guy who came on here saying we were going to the pinksheets and then bought 200,00 shares?
Nice to see you again buddy.
Posted by Katrina7 on :
just 25---lol, no I'm not the commodity I used to be....could it be all the bags I am holding....lol
Welcome back.
Nice to see you warped....did you bring a dead elmo?
Posted by just_25 on :
Hey Kat, I'm still hot for ya:) My birthday is tomorrow so I am thinking about changing my screen name, you still like tadpole?!
Posted by Katrina7 on :
just 26--go for it!
Posted by binsleep on :
quote:Originally posted by WarpedMind: Hi guys. Remember me? :-)
Who the H-E-L-L are you?
Just kidding, buddy. Welcome back!
Posted by just_25 on :
26 means I'm starting to get old, so I'm not sure about the "just" part... I'll let you know what I come up with
Posted by Ragedbull777 on :
quote:Originally posted by Katrina7: Hey Guys
Heard back from AW immediately after I emailed so I believe his head is okay, althought I didnt ask.
He said he thinks hrve will be cheaper in the future, didnt tell me if the deal was dead. He said news redgarding positive EPS coming.
thats all I got....
Someone told me his scull got broken. Posted by Ragedbull777 on :
FWIW, Yesterday's volume was the largest volume day in 2 1/2 months. Very good sign. Too bad we haven't moved up, but At least there's interest. Posted by WarpedMind on :
Alrighty folks. Let's make some moola today... or tomorrow... heck, with MOTG, maybe next year. :-) Let's go, MOTG!
Posted by Stocktrader20 on :
Im hoping for a bounce today, Quarter filing due in two weeks. The market cant ignore a 300% increase in revenues. If shares become available at .025 today, I would say it would be strong buy condering the filing we have coming up here soon.
Posted by Stocktrader20 on :
Stockguru.com: Guru Alerts for Wednesday, May 3, 2006 IELM, CBAI, GTEC, XSONF, MOTG.
Dallas, Texas, May 03, 2006 (M2 PRESSWIRE via COMTEX) -- Stock Guru Alerts for Wednesday include IElement Corporation (OTCBB: IELM),Cord Blood America, Inc. (OTCBB: CBAI), Genesis Technology Group Inc (OTCBB: GTEC), Claxson Interactive Group Inc (OTCBB: XSONF), and Modern Technology Corp. (OTCBB: MOTG).
Posted by Aldeberon on :
What are we gonna do to avenge the hit on our CEO?
Let's think of something mean, nasty, and not even vaguely moral.
Posted by Stocktrader20 on :
We aquire HRVE at later date and at a much lower offer than the original T.O. would be good enough for me. But, Im not sure if thats what you had in mind, lol
Posted by Skyman on :
Bashing a stock is one thing, but bashing the CEO over the head is another.
Posted by bobcat88 on :
What a swing in volume from the last two days and then today three trades?
Posted by Ragedbull777 on :
quote:Originally posted by bobcat88: What a swing in volume from the last two days and then today three trades?
Yes that's true, maybe someone is anticipating good things in the near future. Could the Q be it? Time will tell. Posted by Stocktrader20 on :
MOTG likes to bounce off .025, could see a decent run here. And the quarter filing is due in less than two weeks. The upcoming 10-Q will relect the 300% increase in revenues.
Posted by Ragedbull777 on :
Wow stocktrader, A Five Star rating. Congrats.
Posted by Ragedbull777 on :
Very quiet today. We need some news. Posted by binsleep on :
FWIW: My stock pick for the contest (NDOL) just hit paydirt Posted by binsleep on :
OXFORD, MS--(MARKET WIRE)--May 4, 2006 -- Modern Technology Corp (OTC BB:MOTG.OB - News) a diversified technology development and acquisition company announced today the first step among several planned initiatives to reduce operational overhead an steer the organization to 2006 positive earnings. ADVERTISEMENT
As part of the cost-reduction plan, the Company will close the Franklin location of Sound City. Retail foot-traffic has been less than anticipated at this location. Operations and inventory will be relocated to the Denville location.
Anthony Welch, Chairman, said: "In order to realize recurring profits, retail operations such as Sound City require tremendous foot-traffic. Our expansion efforts to the Franklin location have not generated the anticipated level of customer traffic and related revenues. Therefore, we have elected to transfer the operations of this location to our Denville store and reducing associated costs. This is the first among many positive changes we are making to reduce costs and increase earnings for MOTG shareholders."
About Modern Technology Corp
Modern Technology Corp, a diversified technology development and acquisition company, builds revenues through continuous growth, strategic acquisitions, and commercialization of nascent technology. MOTG improves operating efficiencies through the elimination of cost redundancies and realized synergy between subsidiaries. MOTG also commercializes new technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to build shareholder value through a model of continuous growth. Web Address: http://www.moderntechnologycorp.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact: Company Contact: Megan Peterson 1.662.236.5928
Posted by Ragedbull777 on :
Modern Technology Corp Initiates Aggressive Cost Reduction Plan to Achieve 2006 Profitability
quote:Originally posted by binsleep: FWIW: My stock pick for the contest (NDOL) just hit paydirt
Congrats bin, looks like you've doubled your investment if not more.
RB
Posted by CMoney on :
I made 3x my investment. That'll pay my way back into Motg hopefully before the Q
C$
Posted by emich25 on :
cm money you must be crazy to buy more of this stock? good luck ....Kat and others i really do hope this still works out for you guys good luck....hopefully you will get your run to break even...
Posted by binsleep on :
quote:Originally posted by Ragedbull777:
quote:Originally posted by binsleep: FWIW: My stock pick for the contest (NDOL) just hit paydirt
Congrats bin, looks like you've doubled your investment if not more.
RB
Thanks RB. I sold half of my NDOL yesterday to secure my original investment and am now riding free shares. If the share price comes even close to that $2.17/share buyout price, I'm going to ditch the rest for some nice profits. Thankfully, I've been able to make up for my MOTG losses since selling the majority of my shares. I still have a small stake in MOTG, but I've been hesitant to buy more until I get a clearer picture of where we are headed.
Now, to expand on that, I didn't see many people commenting on yesterday's PR. Here is my take. Welch is, without a doubt, making headway in his quest to bring this company to positive earnings. We are all anticipating that the Q will back up this assumption. All too often, you see retail establishments trying to hang on to losing stores. MOTG has decided to cut their losses and ditch a store which isn't adding to our bottom line. This is very good news for MOTG's valuation going forward.
Posted by binsleep on :
I added another small block to my position today. I'm now averaged in at about .027
This was a down week, but I suspect we will start seeing some accumulation next week and the week after ahead of the Quarterly filing.
Can someone ping Welch and find out if he expects this one to be filed on time?
Posted by CMoney on :
Whats going on today? We're up 13% already. Still light volume though, only 57k
Posted by Katrina7 on :
Hey gang
Just emailed AW about the Q. I really hope they get it out on time.
b/a are the same right now and have been for the last 5 min...
Posted by binsleep on :
CMoney, I think this is just people acquiring ahead of the Q.
Posted by binsleep on :
OT: NDOL taking a beating today. They announced they are in merger talks versus acquisition talks. Apparently, people didn't like that. So much for my contest pick. Glad I'm riding free shares!
Posted by Stocktrader20 on :
FWIW I emailed Welch last week about the quarter report being filed on time. He said he expects it to be on time but, the auditor is the hold up. So, he more less couldnt guarantee it. Good luck everyone.
Posted by binsleep on :
Stocktrader: Thanks for the update.
Posted by Ragedbull777 on :
OT: I saw that binsleep. LT for NDOL was down 57%.
Posted by Ragedbull777 on :
Welcome back Katrina! Posted by trade04 on :
HEY RAGED BULL DONT START SHYT WITH ME CUZ U ARE STILL HOLDING TH EMOTG BAG YOU PUNK
Posted by Katrina7 on :
Thanks RB. Heard back from welch, he said Q is done, its up to the auditors. Like we've never heard that one before.
Groundhog day, again.
Bin-thank god I sold ndol at 1.50!
Posted by trade04 on :
quote:Originally posted by Katrina7: Thanks RB. Heard back from welch, he said Q is done, its up to the auditors. Like we've never heard that one before.
Groundhog day, again.
Bin-thank god I sold ndol at 1.50!
quote:
BLAH BLAH TIME TO WLECH TO CHANGE HIS PUMP STRATEGY...
Posted by binsleep on :
Kat, glad to hear you profited from NDOL. I would have felt extremely bad if you were stuck in the pool without a ladder today It may go back up if the deal is really on the up and up. It was the uncertainty of a merger versus a guaranteed $2.17/share that prompted the selloff. We'll have to wait and see.
Now back on topic. Thanks for the update from Welch. It always seems as though things are on time to the auditors, yet, we are always late getting it filed on time. Let's hope they have their ducks in a row this time. Has AW made any notions of a guidance PR in the near future?
Posted by Ragedbull777 on :
quote:Originally posted by trade04:
quote:Originally posted by Katrina7: Thanks RB. Heard back from welch, he said Q is done, its up to the auditors. Like we've never heard that one before.
Groundhog day, again.
Bin-thank god I sold ndol at 1.50!
quote:
BLAH BLAH TIME TO WLECH TO CHANGE HIS PUMP STRATEGY...
Get lost trade04.
Posted by Ragedbull777 on :
PS go to a board of a stock you like if there is one. Have you ever liked a stock more than a week?
PS: they really love you at the RB mbah and motg boards. Not!
Posted by Katrina7 on :
just ignore trade04, he does a lot of drugs, so whatever.
Smith Barney on the bid. Nice to see we didnt take a major slip today after the end of last week. Seem to be holding . 0026.
I didnt ask AW what else he was planning, was focused on telling him to get the damn Q out on time. I really hope he leans on the auditors hard. He needs to prove to people he can file on time.
Posted by Aldeberon on :
Hey y'all
Let's have a contest to see who can predict the date of the Q.
I predict: May 15! Right on the deadline.
Posted by Ragedbull777 on :
My prediction is May 14th, not sure what year though. LOL......just kidding. Posted by binsleep on :
May 22nd.
Call me optimistic Posted by Aldeberon on :
Yeah you guys are a couple of real optimists LOL
Posted by binsleep on :
Let's see the 3's again. Posted by Ragedbull777 on :
Is this thread closed? LOL. Posted by binsleep on :
RB: Nope, we're going to be pretty stagnant until the Q comes out (slow accumulation), unless Welch releases a guidance PR.
Posted by Aldeberon on :
Shhhhhhhh! You are guys are gonna wake the flippers!
Posted by Ragedbull777 on :
Since it's been slow I thought I'd post the stock picks from the contest we had in January 2006. Below are the individuals, the stock they originally picked, starting PPS, current PPS and percentage gain as of yesterdays close. Way to go BB and Mr Money. Trade04, what can I say.
Nice job (and glad I took my GNTA profits hehe)
Posted by Skyman on :
As one scans down the list, it doesn't take long to hit negative territory.
Posted by Katrina7 on :
Lovely, we just broke the 52 week low.
Just shoot me.
Posted by DWS on :
What is up today.... is there bad newz on the horizon?
Posted by binsleep on :
This is the second day in a row my portfolio has been beaten up. All red, baby! I really wish I had free cash to build up at on some of these levels!
Posted by binsleep on :
quote:Originally posted by Katrina7: Lovely, we just broke the 52 week low.
Just shoot me.
Kat, I wish I could tell you that it will get better, but until AW givees us some guidance, I'm afraid we are at the mercy of the market.
Posted by Katrina7 on :
I'm not going to look anymore. I cant take it. He better get the Q out on time, or I may just plan a trip to good old mississippi.
Posted by Ragedbull777 on :
We are taking a beating today. I thought my buys last week at .026 were a bargain. LOL. That's all I got left, is the laughter.
Posted by Ragedbull777 on :
Monday is the dealine to file on time. It would be unprecedented if they filed on time.
Posted by jimmer on :
Thank goodness for IPRE. I bought $7K of MOTG at 0.029 about a week ago, thinking it was the dip before the bounce. Loss covered by 800% increase in IPRE in the last 48 hours, but not if MOTG falls apart. I offically give up on trying to understand this stock. With this low a float and increasing turnover, what is the deal here? Can somebody post a supportive "run just around the corner, I have insider info" type message to boost my faltering optimism? Thanks!
Posted by WarpedMind on :
quote:Originally posted by jimmer: Thank goodness for IPRE. I bought $7K of MOTG at 0.029 about a week ago, thinking it was the dip before the bounce. Loss covered by 800% increase in IPRE in the last 48 hours, but not if MOTG falls apart. I offically give up on trying to understand this stock. With this low a float and increasing turnover, what is the deal here? Can somebody post a supportive "run just around the corner, I have insider info" type message to boost my faltering optimism? Thanks!
Run just around the corner, I have insider info. Posted by jimmer on :
cheers mate, we must be okay then Posted by binsleep on :
quote:Originally posted by WarpedMind:
quote:Originally posted by jimmer: Thank goodness for IPRE. I bought $7K of MOTG at 0.029 about a week ago, thinking it was the dip before the bounce. Loss covered by 800% increase in IPRE in the last 48 hours, but not if MOTG falls apart. I offically give up on trying to understand this stock. With this low a float and increasing turnover, what is the deal here? Can somebody post a supportive "run just around the corner, I have insider info" type message to boost my faltering optimism? Thanks!
Run just around the corner, I have insider info.
Okay, we've finally hit an all-time low. Thanks for the comic relief, fellas!
Sort of off-topic: Did anyone catch the latest EGVI PR? They have designed a house which received the highest Energy Star level rating. The Demarco Energy Miser is part of the system. The most intriguing thing is that they claim the total utility bills for the house are less than $100/month!
Damn, if my utility bills were that low, I'd be rich! Posted by Ragedbull777 on :
quote:Originally posted by binsleep: [QUOTE]Originally posted by WarpedMind:
Sort of off-topic: Did anyone catch the latest EGVI PR? They have designed a house which received the highest Energy Star level rating. The Demarco Energy Miser is part of the system. The most intriguing thing is that they claim the total utility bills for the house are less than $100/month!
Damn, if my utility bills were that low, I'd be rich!
Did they say how many square feet the home is? With rising energy costs this should be popular.
As for MOTG, we need a good Q and we need it soon. GLTA
Posted by binsleep on :
RB: They didn't say, but here is the link to the PR.
thanks binsleep. I sure hope we've hit bottom.
Posted by Katrina7 on :
Hey guys-
looks like we shoulda been in EGVI, huh?
I hope to god the q comes out on time. obviously a monday release would be preferable to friday.
I'm going to email AW and tell him to make the auditors work over the weekend if necessary.
Heres hoping kids.
Posted by CMoney on :
Hey did HRVE get delisted, they dont have any active trades going on right now.
C$
Posted by binsleep on :
C$,
No, they just don't have any liquidity. They aren't due for delisting until next month I believe.
Feds really scared the market, everything is down.
Posted by Ragedbull777 on :
Modern Technology Corp Announces New Operational Unit and Expands Cost Reductions to Achieve 2006 Profitability Thursday May 11, 6:39 pm ET
OXFORD, MS--(MARKET WIRE)--May 11, 2006 -- Modern Technology Corp (OTC BB:MOTG.OB - News) a diversified technology development and acquisition company announced today a new business model that will be launched shortly and will focus on distribution and product servicing for the incentive marketing sector. The company also announces as part of this operational realignment a further reduction of its operational overhead as part of the company's 2006 earnings plans. ADVERTISEMENT
The infrastructure and operations of our retail electronics business unit will be realigned to service the lucrative incentive marketing business and will be re-branded under a new operational name. The operational realignment maximizes synergy and revenue potential with our subsidiary, INmarketing Group. As part of the cost-reduction plan, the Company will move operations of the Denville retail location of Sound City to its Towaco distribution center and focus its new sales efforts under the new model. Retail inventory will be sold at the Denville facility. Sound City Infrastructure for Distribution, warehousing, shipping, and inventory management functions will continue at company's main warehouse and distribution center as it does at present.
Anthony Welch, Chairman, said: "As part of our 2006 profitability plan and as promised to stockholders, we have reformed our retail division to a transactionally profitable model not reliant upon the vicissitudes of retail consumer electronics. We are also greatly expanding our product depth to include categories outside consumer electronics to better service the growing incentive marketing sector. The support of profitable business units is among our highest priorities. Shareholders should expect further announcements on this tremendous new initiative as well as updates on additional acquisitions. We are very excited about these changes."
About Modern Technology Corp
Modern Technology Corp, a diversified technology development and acquisition company, builds revenues through continuous growth, strategic acquisitions, and commercialization of nascent technology. MOTG improves operating efficiencies through the elimination of cost redundancies and realized synergy between subsidiaries. MOTG also commercializes new technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to build shareholder value through a model of continuous growth. Web Address: http://www.moderntechnologycorp.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact: Company Contact: Megan Peterson 1.662.236.5928
Posted by CMoney on :
so they are closing another store. Reduces overhead and cuts losses, but those effects wont show up in profitability for a while
Posted by binsleep on :
How big is incentive marketing?
Hmm...interesting. Guess we'll see tomorrow how the market reacts.
Posted by Ragedbull777 on :
Glad to see AW is back at work. Posted by Ragedbull777 on :
Any PR is good at this point. Tough to get investors at the moment because it seems that everyone is into the energy and bird flu stocks.
Posted by DWS on :
Well that seals the deal with me that sucked big time...
Modern Technology Corp Announces Recapitalization Strategy to Prepare for Further Acquisitions and 2006 Profitability
By Market Wire Last Update: 5/12/2006 1:09:19 PM Data provided by
OXFORD, MS, May 12, 2006 (MARKET WIRE via COMTEX) -- Modern Technology Corp (MOTG) a diversified technology development and acquisition company announced today it will recapitalize the company in preparation for its planned acquisitions throughout 2006. As part of this preparation strategy, the company will reverse split its stock 20-for-1 and reorganize all business units toward immediate profitability.
The reverse split does not affect the ownership position of any stockholder. All stockholders will continue to own the same percentage of the company as they do now.
The new ticker symbol will be MODC effective Monday, May 15th, 2006.
The company's planned acquisitions for 2006 will be structured to build equity and avoid new debt. These transactions will therefore require warrants or preferred stock convertible into Common Stock of the company. In order to affect these planned acquisitions with equity instead of additional debt, we require the warrants or the preferred stock to be 'in the money' to both mitigate shareholder dilution as well as simplify execution of the equity instruments for the new portfolio company.
Anthony Welch, Chairman, said: "We have committed to profits and growth. We are making the changes to create a profitable growing company. We have planned acquisitions for 2006 based on equity, not debt, and we take this step today in preparation. We have also initiated our efforts to realign business units toward immediate profitability. Our focus is growth based on earnings and building equity through existing operations and new acquisitions. Shareholders should expect continuing announcements of our progress."
About Modern Technology Corp
Modern Technology Corp, a diversified technology development and acquisition company, builds revenues through continuous growth, strategic acquisitions, and commercialization of nascent technology. MOTG improves operating efficiencies through the elimination of cost redundancies and realized synergy between subsidiaries. MOTG also commercializes new technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to build shareholder value through a model of continuous growth. Web Address: http://www.moderntechnologycorp.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
SOURCE: Modern Technology Corp
Posted by DWS on :
Way to crush the PPS.... down 35% today now well over 50% since I got in... anybody still holding this?
Posted by DWS on :
Make that down 53% ... almost a complete wipe-out at this point...
Posted by DWS on :
57% how low can this go.... on a 20 to 1 reverse split... things that make you go huh?
Posted by Katrina7 on :
I am totally ruined.
Posted by DWS on :
MY trading days have become numbered.... at least with these pennies.... you just get burnt way to often...
Posted by Ragedbull777 on :
It's like a nightmare. Please someone wake me.
Posted by The Phat Man on :
get out now. same thing happened to me with mfsn and by the time the split was done i was out 2k with never a sign of life left to this day with the new symbol, etc.
Posted by BULListic on :
This will have less than 3 million shares o/s after the r/s.....watch out for a wild ride beginning next week.
Posted by RichBy26 on :
man, so much for "their word" of no reverse split. I'm out all, GL with all your trades.
Posted by DWS on :
I'd get out as well but I lost so much already there is isn't much left at this point... I guess I will see where my loss in equity takes me...
Posted by Ragedbull777 on :
I am assuming the Authorized shares will remain the same? Which would mean severe dilution. Sorry folks. It hurts.
Posted by CMoney on :
WOW! I might get fired. I got my boss into this in Oct/Nov at .067. And he doesnt do any due, he's just sitting there holding.
As for me, I got out a few weeks ago to play in some oil, after the TO was rescinded.
Is there a future for my 6.7 cent holding friend?
Posted by CMoney on :
After the ticker change on Monday to MODC, can AW now say they have never had a history of R/Ss. Not sure how that works?
C$
Posted by CMoney on :
Binsleep, I knew he needed to give us some guidance after the hrve deal went south. Thats the major acquisition he's been pumping for a while. He probably still has something in the works, but 40mil was a significant portion of all previous projections. I know they'll eventualy be profitable, but at this time its hard to see the positive EPS.
Posted by Persia on :
Reverse Split
Posted by RichBy26 on :
I took what little money I had left in this badboy and put it into AURC and NDOL, both are at bargain prices, hope all your future trades are better than MOTG. I only had a small 5K investment in MOTG, I am truely sorry for all those who are going to lose a lot more...GB
Posted by Ragedbull777 on :
quote:Originally posted by CMoney: WOW! I might get fired. I got my boss into this in Oct/Nov at .067. And he doesnt do any due, he's just sitting there holding.
As for me, I got out a few weeks ago to play in some oil, after the TO was rescinded.
Is there a future for my 6.7 cent holding friend?
Fired and who knows what else. GLTU
Posted by Ragedbull777 on :
I am out folks. Sold at .0117. We must move on. Sorry Katrina, Binsleep, and all who were long time supporters. May the Lord bless you all with better future investments.
RB777 aka Eddie
Posted by DWS on :
I'm out at .0125...
Goog luck to everyone still holding...
Posted by Ragedbull777 on :
What does that Peter Lynch know?
See below....
Posted by CMoney on :
Modern Technology Corp Announces Planned Spin-Off of H-NET Subsidiary Last Update: 2:56 PM ET May 12, 2006
OXFORD, MS, May 12, 2006 (MARKET WIRE via COMTEX) -- Modern Technology Corp (MOTG ) a diversified technology development and acquisition company announced today it plans to spin-off its H-NET subsidiary as soon as practicable. All stockholders of record on the declaration date of the spin-off will receive a stock dividend in H-NET pro rata with their current ownership in Modern Technology Corp. The decision to spin off H-NET is based upon the following factors: 1. The desire to incur no further debt into the parent company to subsidize non-profit generating business units. 2. Operational and business development funding is believed to be easier to obtain if H-NET is a separate entity. 3. Modern Technology Corp is pursuing a focused plan on achieving profitability and building revenues through further acquisitions using equity-based transactions and wishes to eliminate demands on operational cash-flow. 4. The H-NET technology and market potential are believed to be significant and the potential equity appreciation from this growth we feel better serves Modern stockholders if H-NET is a separate listed public company with appropriate funding. After institutional funding has been obtained and the related agreements executed, the spin off and stock dividend date will be determined and announced. All stockholders of record on that date will receive the stock dividend. The transaction is anticipated to be a registered offering and a new listed public stock on the OTCBB. If we do not secure institutional funding for this transaction, we will continue internal efforts to expand the H-NET subsidiary and spin the subsidiary off at a later time. Anthony Welch, Chairman, said: "As previously stated, we are focused on generating profits in all business units. We are making some bold, and sometimes difficult decisions. The H-NET technology is solid and promising. We feel its funding and operational requirements are better met if it were a separate company. Furthermore, the spin off, if successful, will eliminate any cash demands and provide an equity building transaction for all stockholders." About Modern Technology Corp Modern Technology Corp, a diversified technology development and acquisition company, builds revenues through continuous growth, strategic acquisitions, and commercialization of nascent technology. MOTG improves operating efficiencies through the elimination of cost redundancies and realized synergy between subsidiaries. MOTG also commercializes new technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to build shareholder value through a model of continuous growth. Web Address: http://www.moderntechnologycorp.com Safe-Harbor Statement This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission. Company Contact: Megan Peterson 1.662.236.5928 SOURCE: Modern Technology Corp Copyright 2006 Market Wire, All rights reserved.
Posted by CMoney on :
excellent timing AW. People are going to be pissed
Posted by Ragedbull777 on :
He should of at least released the spin off news first. This is unreal. AW no longer has any respect from me.
Posted by jimmer on :
wow I am totally confused. what does this mean?
Posted by Ragedbull777 on :
quote:Originally posted by jimmer: wow I am totally confused. what does this mean?
If you had 100,000 shares at the close today and it closed at .01, on Monday you'll have 5,000 shares worth .20 each. That price won't hold very long. Will probably drop to .15 in a week or so. JMHO.
Posted by binsleep on :
Why does bad news have to come out on the ONE day that I am unable to watch the market?
Ugh. Kat, how you holdin' up over there?
Posted by jimmer on :
thanks Raged. actually I was asking more regarding the spin-off quote. Unfortunaltey i am aware of the potential for negative outcomes from RS.
"stockholders of record on the declaration date of the spin-off will receive a stock dividend in H-NET pro rata with their current ownership in Modern Technology Corp." I guess I am unclear on two aspects:
1. Is today the declaration of the intention to spin-off? 2. Is the dividend AW is referring to a cash payment or a stock dividend?
And lets briefly touch on the demerits of a RS. Historically, in 75% of cases, a stock that undergoes a RS loses vlaue in the next 12 months. Of the 25% that INCREASE in net value (it does happen) it tends to be companies that undergo a RS when positive news is nearby and when there is a good cashflow and the fundamentals are good which they really are for MOTG.
RS spells short term gloom for sure but from what I have seen to date this guy is on a mission to expand and I if he dilutes and acquires shrewdly I think in a few weeks selling today after the plunge may look like a poor choice. Just my humble thoughts, I am not trying to pump, these is my actual opinion.
GLTA.
Posted by Ragedbull777 on :
We should of seen this coming. We are on page "13", not the luckiest number. Have a good weekend all. Take care.
Posted by binsleep on :
Sadly, I'm holding. I don't have a large position in MOTG (and it's about to get smaller, hehe). Jimmer may be right. These are VERY aggressive moves made by Anthony. He is doing this to put the company in a better position to become cash flow positive. I think he realizes the mistake he made with HRVE and is trying to make up for it. Whether or not it works remains to be seen.
For the amount I'm in (or would lose if things go completely sour), I'm willing to take the risk and see where we end up. I can only say this in hindsight, however, since if I were here today, I would have dumped these SOB's in an instant. GL to everyone, whatever your choice may be.
Posted by Ragedbull777 on :
bin,
After the RS this baby will be at .32, I just don't see it holding that price for very long. I can see it at half of that in no time at all. Imagine if they start diluting again, which they will to raise funds for acquisitions. I hope i am wrong. GLTU
Posted by jimmer on :
Raged, I think your concern is very valid. I think I am going to wait on Monday to see if there is a PR and any upward movement and get out for a week or two if not. Very dissapointing week.
Posted by Ragedbull777 on :
jimmer,
I believe the Authorized shares is currently 150M, the OS shares say were around 100M before the reverse split, after the RS the OS shares will be 5M. That will now give the company 145M shares to put on the market. This will dilute your stake in the company. I mean before if you had 1M shares and the OS shares were 100M you'd own 1 percent of the company, now you'll own 1/20th of 1 percent. I just can't see potential investors willing to pay .32 a share for this company. We had trouble getting people to pay 3 cents, why would they pay more then that now, I wouldn't, would you? Whoever stays in is probably going to stay until the end. Who knows maybe it will work out, only time will tell. GL to you and all that have stayed.
Posted by Stocktrader20 on :
Im very surprised what Welch has pulled here. Does a Wall Street Network interview to promote his company and does a reverse split 30 days later in MOTG. I sold for a modest gain less than 10 days ago. I wish everyone that was caught up in this the best but, this is the risk you take in penny stocks and there is still an outside chance Welch does have a plan for this company that will succeed and hopefully with minimal dilution so current holders still benifit. Has anyone emailed Welch since Friday or is he not anwsering emails anymore? Im sure there are many that would like give Welch an ass kickin. Ironically EGVI is up 100% in the past couple of weeks.
Posted by Ragedbull777 on :
I sent AW an email yesterday and it wasn't pretty. I doubt he'll respond and I don't care since I'm out. I lost a few thousand, but I know some that lost much more than me, so I can't complain too much. The only thing I did in the last month regarding motg that was smart was sell 1/3 of my position at around .03, too bad I didn't sell it all. What was AW thinking? He had 13M shares worth $300K, now he has 650K shares worth much less and will drop a lot more. I hope I've learned something here. GLTA
Posted by Stocktrader20 on :
Those 13 million shares were issued. MOTG(well MODC now) still has preferred stock that can be converted into millions common stock shares so, Welch can remain the majority shareholder. Im just wondering what the O/S will be now or will it stay the same at 150 million. The quarter filing is due tomorrow... GLTA and BTW if anyone is looking for a new hold with less risk. You may want to consider TIV Its an Oil&Gas company currently trading at $5.88 near the 52 week low with insider buys last week. Heres my post on the other board-
Good afternoon all, I dont own stock here but I do have a question regarding the ceo and his shares. The rs applies to all outstanding shares. Is his restricted shares considered outstanding? Are they even registered? I have been through r/s before with other stocks and I have always wondered if the stocks held by the bastud that makes this decision is actually affected. If anyone knows I sure would like to know because if they arent affected there are a lot of ceo's that need an azz wuppin. TMAN...
Posted by emich25 on :
first off aw had no choice to do the rs because he is a failure...anyone who spoke to him on the phone knew that this man was clueless..How many time did we ask for a ir department? what about promotion we said...he thinks all of that just takes care of itself...the guy is a clown. unfortunately he screwed alot of people...if he thinks it was hard getting investors to buy at .03 cents it will be impossible after this...nobody is going to to touch this stock. some will hold and watch this go to .03 again. aw has the partners from img and sc...he has to pay them...they want their money they were paid in shares...the hrve deal was a pump job that failed miserably...aw had no way of buying hrve...don't kid yourselves that was never getting done. the point is he couldn't raise the money to buy our the board and get control so he jumped the gun put out a pr knowing it wouldn't get accepted why did he wait so long to file with the lawyers...problem is it didn't work...he hired ***** and then tried to sue him. ***** laughed at him...aw is full of piss and vinigor...as far as his shares he'll just reissue them to hiself at a later date...oh by the way soundcity closed a store and img makes 8k a year...
Posted by emich25 on :
what's ridiculos about all this is that aw thinks that he can still put out the crap prs about shareholder appreciation and hnet spin off as if it means anything...hnet is garbage...call the guy that runs it out of his house. I remeber when the guy hnet dude was positing on yahoo....i called anton stevens to see what was up since the guy said he worked for hnet...it was tough to hear what anton had to say because his dog was barking and he had to let him out...that is when i knew we were in a world of ****...i feel for you kat...what's interesting is right before this happened a previous investor told me that he saw this going the way of gccp...not far from it...
Posted by Katrina7 on :
This was the last email I received from him. I dont know what to do, I am down so much here, and I'd hate to panic sell....
Obviously a shake out of sorts today. Await next week for news.
The reverse became unavoidable only recently. There is a good reason for it as we prepare for more acquisitions.
From another letter I wrote this morning:
I can appreciate your concerns, but are making some very big changes to make the company profitable and avoid any further debt to make acquisitions. These changes are not easy but they are for the long term benefit to the organization, and by extension, all stockholders.
Further, without the recapitalization, we would not be able to acquire a prime target (among other candidates) that is becoming less expensive for Modern by the day.
<wrote:
Anthony,
I am at a loss as to what to say to you. I trusted you. I have several emails in which you stated you were not contemplating a reverse split. I invested $60,000 of my money in your company based on our conversations.
I am currently down $40,000. What can I do, here? As we break through a penny, please tell me that I will get my money back.
Posted by Katrina7 on :
anyone watching today? No trades, few mms, I guess people are trying to sort out whats happening.
At least there arent huge orders on the ask...that would indicate not a lot of panic selling. Maybe the worst was over Friday, I sure hope so.
Posted by binsleep on :
I think people are waiting for some more guidance. Too risky to get in now.
Posted by Katrina7 on :
hey bin, how are you? hanging in there? still holding?
I'm having a pretty rough time...cant eat, cant sleep. I hope to god if I hold this longer, I can get out without losing everything.
GL
Posted by binsleep on :
Kat, I'm holding. Its going to take some time for him to turn this around, and it is risky. Whatever you choose to do, take care of yourself first. Remember, money can be replaced. Your health, on the other hand, can't.
Posted by Ragedbull777 on :
quote:Originally posted by binsleep: I think people are waiting for some more guidance. Too risky to get in now.
I agree bin. Look at the spread. Even the MM's know it. The bid vs ask is at .15 x .35 and the second ask is .75. Seems like now one wants it. Not one trade as far as I can tell. GLTA.
Posted by emich25 on :
Kat just know that we have all been there. I got washed out on gccp...the ceo was a liar and the ir department was worse...I wouldn't trust aw at all..This is a guy who used to send me emails asking me if he prd no reverse split would that make the share price go up? Aw has no idea what he is doing. I have never seen a ceo just sit at a computer and answer emails all day. I said it from day one he does nothing all day. sc and img are run by other people. He had hrve to close and couldn't do it. hrve isn't going to do much for him now. one otc aquiring another won't do much.(HRVE was a Collasal Mistake) the way he handled that goes to show he has no idea and was trying to pump the stock)...just know that you can come back from this. you saw the run on ndol those things happen all the time in the otc...that's just it though they are runs not investments. I was like most of you guys. I called aw and emailed him me and az were all over him. we tried to get him an ir firm. we were willing to pay for it...but aw was such a dick about it. he wouldn't meet with az eventhough az had someone lined up to redo the financing. i saw the emails aw dodged his meet request. that was when i knew to get out. no company tells someone no i don't want your 3 million dollars. aw honestly believes he doesn't have to promote. we have all seen it in emails...he is training megan as his ir person are you serious? he also beleives that the financing with ajw is good and that the cd's aren't that bad. the financing for hrve was ajw...buy the way when i was trying to get him money he wanted 6.5 milion. 4 to pay off exisisting 2 for hrve. he low balled hrve cause he didn't have the neccesary financing. he knew there wasn't a chance he was going to get hrve that is why the lawyers never filed he had no intention. hrve says the offer isn't valid which it wasn't and aw says we changed our minds... I would be careful holding this. You can come back from this. It only takes a few good picks.
Posted by trewblue on :
hang in there Kat...many of us are in the same boat as you are and are praying for divine interventions. Bin speaks wisdom...take his words to heart!
Posted by Katrina7 on :
Thanks guys, I just keep beating myself up in my head. I've held this for so long, coulda sold for a 12k profit, coulda sold for even many many times...and now this. It's just really tough.
I feel like a fool.
Posted by Skyman on :
fools unite.
Posted by Katrina7 on :
yes, does anyone know if he is still require to file the Q today. I havent heard back from him.
Posted by WarpedMind on :
Hey guys...
more bad news...
I just found the Rally Monkey dead in the bathroom... he shot himself.
Tis a sad, sad day. AW, you killed my monkey.
(Still holding my "huge" number of worthless shares)
Posted by WarpedMind on :
LOL warped. Someone just has to email that to Welch.
Posted by Stocktrader20 on :
May 15, 2006 08:44 AM ET
Modern Technology Corp Releases Operational Guidance for Anticipated Spin-Off of H-NET Subsidiary and Stock
Modern Technology Corp (OTC BB: MOTG), a diversified technology development and acquisition company, announced today operational guidance for its planned spin-off of its H-NET subsidiary.
The planned spin-off of the H-NET subsidiary results in both ongoing revenue for Modern Technology as well as an equity distribution to all stockholders of Modern Technology Corp.
Modern Technology Corp anticipates receiving recurring income from H-NET in the form of the following forms of revenue: Management fees paid by H-NET to Modern for accounting and executive functions, License and royalty fees paid to Modern for continued use of the H-NET technology, support and development fees paid to Modern as part of transition of operations and development work to date, ongoing revenue sharing of future installations of H-NET technology, fees paid to Modern for marketing and distribution efforts through Modern's existing infrastructure and marketing platforms.
Modern stockholders will receive shares in the H-NET spin-off in proportion to their ownership in Modern Technology Corp and their ownership in Modern Technology Corp will not be affected.
Anthony Welch, Chairman, said: "Not only does our planned spin-off of H-NET provide an equity distribution to stockholders with strong growth potential, it also maintains revenue streams for Modern that have a minimal cost-basis and therefore extremely high margins. The H-NET spin-off therefore represents a potential source of strong positive free cash-flow. Our strategy for 2006 is: build revenue, achieve positive earnings, and increase stockholder equity with further planned acquisitions. The planned H-NET spin-off is congruent with these objectives."
About Modern Technology Corp
Modern Technology Corp, a diversified technology development and acquisition company, builds revenues through continuous growth, strategic acquisitions, and commercialization of nascent technology. MOTG improves operating efficiencies through the elimination of cost redundancies and realized synergy between subsidiaries. MOTG also commercializes new technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to build shareholder value through a model of continuous growth. Web Address: http://www.moderntechnologycorp.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Newswire by Market Wire
Company Contact: Megan Peterson 1.662.236.5928
Modern Technology Corp 1420 North Lamar Blvd. Oxford, MS 38655 USA Phone: +1.662.236.5928 Fax: +1.662.236.7663 Web: www.moderntechnologycorp.comCopyright 2006 Market Wire
Posted by binsleep on :
Warped: You kill me buddy. Glad to see you are still around. God knows, we need comic relief right now hehe.
P.S. That sign needs to be bigger, you need to include MODCE Posted by Skyman on :
Instead of giving away this "equity distribution" to the stock holders, MODC needs to keep it and add it to its own total assets. You can't win by giving away things of value.
Posted by Stocktrader20 on :
The 10-Q will be late...
MODC -- Modern Technology Corp.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check one):
Form 10-K [] Form 20-F [] Form 11-K [x] Form 10-Q [] Form N-SAR
[] Form N-CSR
For Period Ended: March 31, 2006
[] Transition Report on Form 10-K
[] Transition Report on Form 20-F
[] Transition Report on Form 11-K
[] Transition Report on Form 10-Q
[] Transition Report on Form N-SAR For the Transition Period Ended: __________________________________________________________________
Read Instruction (on back page) Before Preparing Form. Please Print or Type.
Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.
If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:
PART I -- REGISTRANT INFORMATION
MODERN TECHNOLOGY CORP.
(Full Name of Registrant)
(Former Name if Applicable)
1420 N. Lamar Blvd., Oxford, MS 38655
(Address of Principal Executive Office)
PART II -- RULES 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate) X
(a) The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense
(b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and
(c) The accountant's statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.
PART III-- NARRATIVE
State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.
(Attach extra Sheets if Needed)
The required financial statements for the reporting period could not be obtained without unreasonable expenses.
PART IV --OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this notification
Anthony Welch 662-236-5928
(2) Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed ? If answer is no, identify report(s). Yes X No _
(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof ? Yes _ No X
If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.
MODERN TECHNOLOGY CORP.
has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.
Date ___ 5-15-2006 ____ By
Anthony Welch, President
INSTRUCTION: The form may be signed by an executive officer of the registrant or by any other duly authorized representative. The name and title of the person signing the form shall be typed or printed beneath the signature. If the statement is signed on behalf of the registrant by an authorized representative (other than an executive officer), evidence of the representative's authority to sign on behalf of the registrant shall be filed with the form.
Posted by Katrina7 on :
figures
Posted by binsleep on :
quote:Originally posted by binsleep: P.S. That sign needs to be bigger, you need to include MODCE
Guess I wasn't far off
I hate being right, sometimes.
Posted by Stocktrader20 on :
Ok they fixed the PR now-
/ CORRECTION -- Modern Technology Corp Releases Operational Guidance for Anticipated Spin-Off of H-NET Subsidiary and Stock Dividend In the news release, "Modern Technology Corp Releases Operational Guidance for Anticipated Spin-Off of H-NET Subsidiary and Stock Dividend," issued earlier today by Modern Technology Corp, we are advised by the company that the company's stock ticker should be (OTC BB: MODC) rather than (OTC BB: MOTG), as originally issued. Additionally, in the 6th paragraph, the company acronym should read "MODC," rather than "MOTG." Complete corrected text follows.
Modern Technology Corp Releases Operational Guidance for Anticipated Spin- Off of H-NET Subsidiary and Stock Dividend
OXFORD, MS -- 05/15/06 -- Modern Technology Corp (OTC BB: MODC), a diversified technology development and acquisition company, announced today operational guidance for its planned spin-off of its H-NET subsidiary.
The planned spin-off of the H-NET subsidiary results in both ongoing revenue for Modern Technology as well as an equity distribution to all stockholders of Modern Technology Corp.
Modern Technology Corp anticipates receiving recurring income from H-NET in the form of the following forms of revenue: Management fees paid by H-NET to Modern for accounting and executive functions, License and royalty fees paid to Modern for continued use of the H-NET technology, support and development fees paid to Modern as part of transition of operations and development work to date, ongoing revenue sharing of future installations of H-NET technology, fees paid to Modern for marketing and distribution efforts through Modern's existing infrastructure and marketing platforms.
Modern stockholders will receive shares in the H-NET spin-off in proportion to their ownership in Modern Technology Corp and their ownership in Modern Technology Corp will not be affected.
Anthony Welch, Chairman, said: "Not only does our planned spin-off of H-NET provide an equity distribution to stockholders with strong growth potential, it also maintains revenue streams for Modern that have a minimal cost-basis and therefore extremely high margins. The H-NET spin-off therefore represents a potential source of strong positive free cash-flow. Our strategy for 2006 is: build revenue, achieve positive earnings, and increase stockholder equity with further planned acquisitions. The planned H-NET spin-off is congruent with these objectives."
About Modern Technology Corp
Modern Technology Corp, a diversified technology development and acquisition company, builds revenues through continuous growth, strategic acquisitions, and commercialization of nascent technology. MODC improves operating efficiencies through the elimination of cost redundancies and realized synergy between subsidiaries. MODC also commercializes new technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to build shareholder value through a model of continuous growth. Web Address: http://www.moderntechnologycorp.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Source: Market Wire (May 15, 2006 - 4:33 PM EDT)
Posted by jimmer on :
This guy is embarrasing. he can't even figure out the symbol for his own company. I am really unsure about keeping this.
Posted by Ragedbull777 on :
quote:Originally posted by jimmer: This guy is embarrasing. he can't even figure out the symbol for his own company. I am really unsure about keeping this.
He's pathetic. I wonder how he came up with the symbol MODC? What does that stand for? My Own Diluting Company?
Posted by Johnwayne on :
guys- let me first start by saying I rode with many of you that were in GCCP last summer. I was in thi stock when it was in the .05 range and sold for a loss at .035. Since leaving MOTG my account has increased over 1000%. To be perfectly blunt, I do not stay in any of these stocks long enough to confirm what we all know.... odds are if you stay in any of these stocks long enough you will get burnt. I now use throw away money only for long term stocks. Don't hold these stocks for more than a day or two, sell on the spike and move on to the next one. Repeat as often as possible.
I am not posting to rub salt on your wounds. But rather to give all of you hope for a better tomorrow. I feel for all of you here and wish you the best of luck. Dump this flea bag now and go out and start to earn your money back.
Posted by Aldeberon on :
Oversold condition right now on MODC (MOTG):
Still $10 million in assets here with $21 million projected in revenues WITHOUT the acquistion Welch just recapitalized for. I'm not saying it won't go down anymore. Everyone, you MUST make a decision for yourself. But they are about to file the biggest 10Q in their history.
GL everyone. I'm also down 85% on my MOTG investment Posted by emich25 on :
The biggest 10q in their history means nothing...they only own 51 percent ie they can't take money out of the companies to pay off the debt of the aquisition. second you have a moron at the helm who knows squat about promotion and how to run a company on the otc. how many shareholders did it take to convince him to release news during the trading day...this guy is the biggest ass clown ever
Posted by Aldeberon on :
Yes but we are talking about how the market values the company, not the market savvy of the CEO. He is a bumbling idiot when it comes to understanding market dynamics. But he has accomplished every goal for the year other than HRVE - which he would have been foolish to complete after their dilution and restructuring. HRVE is breaking through support levels and will become cheaper every day.
Listen, this thing could go back to .03 for all I know. But we're all here to make money and if the market responds to the 10Q favorably then we who are left will see a welcomed bump in our accounts.
If not, then we continue to suffer greatly.
Everyone's got to make their own decisions.
Posted by binsleep on :
Al, I'm with you. I think we go higher.
Posted by Aldeberon on :
I think the MM's have to cover here.
I'll bet they all have a "SHORT! SHORT! SHORT!" button they hit when ever there's an RS lol
I can't believe I'm laughing about this I must be delusional...
Posted by WarpedMind on :
quote:Originally posted by Johnwayne: guys- let me first start by saying I rode with many of you that were in GCCP last summer. I was in thi stock when it was in the .05 range and sold for a loss at .035. Since leaving MOTG my account has increased over 1000%. To be perfectly blunt, I do not stay in any of these stocks long enough to confirm what we all know.... odds are if you stay in any of these stocks long enough you will get burnt. I now use throw away money only for long term stocks. Don't hold these stocks for more than a day or two, sell on the spike and move on to the next one. Repeat as often as possible.
I am not posting to rub salt on your wounds. But rather to give all of you hope for a better tomorrow. I feel for all of you here and wish you the best of luck. Dump this flea bag now and go out and start to earn your money back.
Thanks for the encouraging post. Would sure love to know how you got that 1000%! What are you in?
Posted by bobcat88 on :
.58 for a high? what is going on?
Posted by binsleep on :
Someone F'd up Posted by binsleep on :
Why couldn't we be up .14 when we were at .03 !?!?! Posted by bobcat88 on :
Was hoping it was a market adjustment! Or the Q came out and it was way better then we thought it would be.
Posted by WarpedMind on :
Fat Finger. Posted by Johnwayne on :
Warped - you know the game much better than I my friend. My basic trading strategy was to jump into late day runners and then sell after the next mornings gap. I picked up 20-25% before the close and another 30-50% the next morning. Got in a few oil plays and made a huge % increase. All were crap companies that had their day in the sun and dropped back down after I sold. Now this strategy sometimes back fired.... I sold NDOL for only 50% profit, at .30 cents, before it ran up to near 2.00. But you get the idea. Sorry I can't remember the names of the companies I made money on. I will look back and see if I can remember. I know one was SFDE, which is now R/S ing.
Point is you can't put your stake down in these pigs. IMO They are all crooked. Just pulled out of LSMJ today because they had some shady business going on.
Nothing in this game is more important than MoMo. Not financials, not charts, not dillution, not level 2, not the CEO, not even the product they are selling matters. HLEG is up 80% today. Last summer the CEO was knee deep in the GCCP fiasco. I didn't buy in for that reason. I should have known it doesn't matter.
Only today matters IMO. Play it quick and in and out with small profit, if your down cut your losses. Most times I am not in a stock more than two days. I don't even ride free shares after 100% gains because these things drop as fast as they rise. It's the only way to go.
Good Luck all. Kat I feel especially sorry for you as I know your heart and soul was in this.
Posted by Johnwayne on :
PGPM, CWLC, SFDE, were three. Than various oil/ehtanol stocks that chipped in.
Posted by Ragedbull777 on :
OT: Just thought I'd mention this stock I found that's not much higher PPS than MODC with a ton of revenues and Net Income. The company is Tricell, symbol TCLL. Do your own DD and GL. See the first paragraph below on their latest news release.
Tricell Announces Record $5 Million Profit and $383 Million Revenue for First Quarter of 2006 STAFFORDSHIRE, England, May 16 /PRNewswire-FirstCall/ -- Tricell Inc. (OTC Bulletin Board: TCLL), announced record quarterly profit for the quarter ended March 31, 2006. Profit for this quarter was $5,007,009, as compared to a net loss of $87,108 for the same quarter last year. This represents an increase of 5848%. Tricell also generated revenue of $383.5 million for the three months ended March 31, 2006 as compared to $56.3 million for the same period in 2005, which is a 582% increase. The increase in revenues is the result of our expanded trading operations, which since June 30, 2005, includes the operations of our wholly owned subsidiary, Ace Telecom. Tricell's increased profit is the result of both our expanded operations, as well as our reduced cost of capital. For all of the first quarter of 2006, Tricell resumed internally financing its trading activities with cash flow from operations, whereas an external line of credit was used to finance operations for most of 2005.
Posted by jimmer on :
Now I have had time to think about it and am used to the oddities and poor choices made by the CEO, it is hard not to come to the conclusion that this stock is now way oversold. 1st Q revenue to be reported at over 4.5 million, up 300% and a market capital of 420K. If there is a dilution it will because this guy is trying to buy Virgin airlines or takeover Micorsoft with the proceeds not because he is misappropriating funds, and if he can keep adding value this could be interesting.
I won't bet we will not see more water squirting flowers, juggling or red noses that make a noise when squeezed, but I do bet MODC is significantly higher than 0.17 by June 1st.
I request my 5 stars are reduced (rightfully so) if I am wrong...but please wait until June 1st
GLTA.
Posted by Aldeberon on :
quote:Originally posted by WarpedMind: Fat Finger.
Actually... there was a 100 share buy at .58 when the ask was up there. Someone wanted to bump the chart a little I guess...
I'm still on the fence on this one. This is what I need to know: Has anyone been trying to sell but can't? Has anyone not been able to sell because their shares have not transfered yet?
The answers to those questions will help us figure out if this turkey is going to drop any more in the next coming days.
Thanks Al
Posted by Aldeberon on :
btw, don't forget... MOTG is now trading at the equivalent of .008 cents a week before it's largest-to-date income is reported.
Posted by Katrina7 on :
Good morning all.
I was wondering how many of you are still in this? My accounts are all freed up, and I wondered if everyone else could trade as well.
L2 is still all over the place, as it appears many folks dont have access to their shares yet.
Whats everyone thinking here? Sell, or wait and see?
I think we should all band together and refuse to sell at these prices. the equivelant of .008....this is ridiculous.
Posted by bobcat88 on :
I'm still in but only cause I cant access my shares still this AM, even if I could I dont think I would sell at this much of a loss. Will wait for the Q or hang on to them for a loss to offset the profit on USXP.
Posted by uprightdeb on :
Katrina7, I agree, best thing is to hold and see what is ahead.
Posted by binsleep on :
I'm hanging tight, but then again, I don't have much more to lose Posted by Skyman on :
So they gapped down with no merger. So what. They will be back. Not all of the stock price depended upon the merger.
Posted by WarpedMind on :
Johnwayne, thanks for your nice post man.
Posted by jaytee on :
Katrina 7 I read your post. I feel your pain. I mean LITERALLY. I have even more shares than you.
I was wondering how many of you are still in this? YES , I AM STILL IN.
My accounts are all freed up, and I wondered if everyone else could trade as well. YES, I AM "FREE" TO TRADE, BUT AM HOLDING.
L2 is still all over the place, as it appears many folks dont have access to their shares yet.
Whats everyone thinking here? Sell, or wait and see?
I AM NOT GIVING AWAY MY SHARES. I AM DISGUSTED, BUT, AT THE MOMENT , ALL I HAVE LOST IS THE "TIME" (AND TIME VALUE OF THE MONEY/ ABILITY TO TRADE ELSEWHERE).
I WILL NOT BE SHAKEN OUT AT THESE LEVELS.
I think we should all band together and refuse to sell at these prices. the equivelant of .008....this is ridiculous.
COULD NOT AGREE MORE.
THIS IS NOT DEAD YET. THE FAT LADY AIN'T SINGING. ALOT OF PEOPLE SMARTER THAN I GOT OUT. I AM LOCKED IN , AS I HAD A 5.7 CT AVG.
SOME MAY BE GLOATING, OR SAYING I TOLD YOU SO. BUT, THE ONLY LOSS I AM WILLING TO SWALLOW (ASIDE FROM MY PRIDE) IS MORE TIME. I CAN'T BELIEVE THAT THE BUSINESS MODEL, THE CONCEPT OF ACQUISITION WITHOUT DEBENTURES IN FUTURE, AND THE SUBSIDIARIES ARE ALL PRICED INTO CURRENT PPS. BUT, WHAT DO I KNOW.
JAYTEE
Posted by Katrina7 on :
Thats Jaytee, I'm sorry that you and I are in the same company, I wouldnt wish this fate on anyone.
Look, I really do think we should not give anyone our shares at this level. How many shares collectively are owned on this board? We should figure that out. We, ourselves, may be able to help stabilize this until the q comes out, or until the news that AW is promising comes out.
I know he is still looking at HRVE and I know he is looking at other acquisitions. I dont know if I trust him, but he has kept to his work about acquisitions, even if they were late and even if they didnt pan out. (HRVE)
Lets hang tough here guys.
Posted by bobcat88 on :
Sure wish I had some of the funds available from MOTG, was going to sell half last week to put into TMOL. Figures it has it's day today.
Posted by Ragedbull777 on :
quote:Originally posted by bobcat88: Sure wish I had some of the funds available from MOTG, was going to sell half last week to put into TMOL. Figures it has it's day today.
What made TMOL run today? Didn't see any news.
Thanks
Posted by trade04 on :
the stock split??? OUCHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH it was inveitable
Posted by Ragedbull777 on :
quote:Originally posted by trade04: the stock split??? OUCHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH it was inveitable
Go Fock yourself.
Posted by trade04 on :
quote:Originally posted by Ragedbull777:
quote:Originally posted by trade04: the stock split??? OUCHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH it was inveitable
Go Fock yourself.
dude i posted and shares emails with kat and others how welch said eventually motg will need to split BUT only to get on a larger exchange. i dont get it? hes a ****ing liar...
Posted by binsleep on :
quote:Originally posted by binsleep: May 22nd.
Call me optimistic
So far, I'm winning for the Q release date Posted by Katrina7 on :
Call me the dumbest lady in the world, but I put in an order for .15 this morning. A mere 1500 will, on one of my accounts, move my average down 25%, (so I think the gamble is worth it at this point.)
For those watching, they've only filled half my order, although they filled some at .15 while mine was still in. There are clearly orders in we are not seeing, probably AON.
Who the hell knows. Looking for news this week according to AW. We'll see. Also notice the ask is filling in a little more reasonably with some orders in the 6s.
Good luck everyone.
Posted by binsleep on :
Kat,
I am confident that this will go up. How much is anyone's guess. Curious what the news is supposed to be. Anyone care to speculate?
Posted by Aldeberon on :
We are hoping he isn't just referring to the Q!
Either way, he may let it slide to next week at this point.
Posted by tingo on :
I'm trying to buy 2000 at 0.15, but the don't let me...although it's at 0.14 now
Posted by binsleep on :
Al, I hear ya. The Q by itself would have been enough to give us a nice pop prior to the R/S, but I'm not so sure now. We need some encouraging news to attract new investors.
Posted by Aldeberon on :
Someone on RB (who is also reportedly down $10's of thousands$) said:
"AW, I emailed him.. exactly what I had invested and what it is wroth now. He says news next week and that he is working on Q."
Posted by Aldeberon on :
Let us know how it goes tingo. Kat was able to buy on the bid this morning.
Posted by bobcat88 on :
Just got my shares transfered and updated, looked at my detailed summary and boy does that just suck, averaged at 1.1809 now down 88.99%
Posted by jimmer on :
Good to see the stock hold on to a 76% gain today. I am glad I dod not panic sell in the last couple of days. Still along way to go but I agree with Jaytee, the only thing I am losing right now is time, and I still have some of that left to see this stock get back to a healthier place.
Posted by Aldeberon on :
HRVE update:
Harvey has gotten itself onto a slippery slope recently. Welch has stated that he is still after HRVE, which becomes cheaper every day. Kat and I have been discussing whether or not the new board of directors will perform a mild reverse split in order to keep it from being delisted in 30 days. That's the only way we can see pulling this stock back over $1 any time soon. I'm sure that was their plan all along. It helps cover the fact that they are diluting it by shrinking the float with an R/S.
Harvey 3 months:
You can see the run early in April when MOTG announced they were buying it; and again in mid-April when Harvey announced it was being taken over. Notice also in the last week or so HRVE has been setting lower highs and lower lows. Doesn't look good for the fortune 500 group's newest acquistion.
Look for an R/S on HRVE in the near future imo. This will make it easier for Welch to buy as he will have to buy fewer shares to own 51%, and the share price will drop disproportionally after the announcement of the R/S.
If they don't pull the reverse split, or some magic out of their arses, this puppy's going to the OTC on June 19th!
All imo of course.
Posted by tingo on :
none of my order was executed at 0.15, it's a pitty cause I tried to add just before the rise.... still 68% down on this one Posted by bobcat88 on :
Nobody biting today, got an order in for .14, seeems everyone is just going to hang out and wait for the Q.
Posted by Aldeberon on :
They're starting to show some interest on the bid finally. Nite had an order for .15, then someone stepped it up to .151. Now ETRD came in with an order at .155 before walking it down to .152. The last time I watched MM's duke it out like this MOTG was at a lot higher pps.
Bobcat, I agree, I think most people are holding. Some may even be accumulating.
I think most would agree a company trading at .0075 with $10 mill in assets is incredibly undervalued. But for most people I think the issue is not the financials, but the CEO. If Welch can restore people's faith in the company I think we can pull out of this. But Welch MUST deliver on promises to turn this puppy around.
GL everyone
Posted by Interesting on :
I am still in this one too. I will hold till june 1st...prpbably. I sure would not give away my money.
Posted by bobcat88 on :
Not many trades today but even still that's pretty good volume considering that it's been equiv to two days of around a million shares prior to the split.
Posted by Aldeberon on :
Bump -
It just occured to me that we're gonna need a new "MODC" thread. One that is in the other forum, as we are no longer below .10! - rapping on wood -
Posted by bobcat88 on :
Maybe we can get some interest from the other board, everyone here is tired of hearing about our big Q that never happens.
Posted by binsleep on :
Folks close to Welch suggest that we are supposed to be getting news this week.
Posted by Aldeberon on :
Yes I've heard that too Bin.
Posted by binsleep on :
I knew it was going to be late, but I was really expecting the Q to be released today.
Between my brokerage account and the two weeks of constant rain that we've seen in the Northeast, I could really use a boost here! Posted by Katrina7 on :
Morning all...looks like everyone is just watching and waiting, alhtough I was happy to see the ask fill in a little more with some reasonable numbers. Looks like not everyone wants to sell down here in hell.
AW says the auditor knows the Q must be out today or tomorrow. I hope he kicked the auditors ass and made him work over the weekend. There is no reason for these delays.
I'll harass him again this morning and see whats up.
Posted by BlueHen on :
Good lord, if some of you folks haven't figured out by now that Welch is nothing more than a scam artist, then you are beyond hope.
Posted by bobcat88 on :
Blue, evidently you arent holding any bags, we still have hope.
Posted by BlueHen on :
bobcat, I'm stuck with a little over a thousand shares of this POS. Looking at the current bid of 0.085 and I can only laugh. At least I didn't bet the farm on MOTG.
Best comment I read about Welch was, if I remember correctly, on RB where someone mentioned that it was too bad that the building materials that fell off the roof weren't a little heavier.
Posted by Skyman on :
Hey, enough of that.
Posted by Ragedbull777 on :
quote:Originally posted by BlueHen: bobcat, I'm stuck with a little over a thousand shares of this POS. Looking at the current bid of 0.085 and I can only laugh. At least I didn't bet the farm on MOTG.
Best comment I read about Welch was, if I remember correctly, on RB where someone mentioned that it was too bad that the building materials that fell off the roof weren't a little heavier.
Posted by binsleep on :
Al,
I agree with your statement above. I think as soon as the Q comes out, we should either abandon this thread for a new MODC thread, or have the moderators change the name for us. Come to think of it, can the owner of the thread change the name?
Posted by Ragedbull777 on :
quote:Originally posted by Ragedbull777:
quote:Originally posted by BlueHen: bobcat, I'm stuck with a little over a thousand shares of this POS. Looking at the current bid of 0.085 and I can only laugh. At least I didn't bet the farm on MOTG.
Best comment I read about Welch was, if I remember correctly, on RB where someone mentioned that it was too bad that the building materials that fell off the roof weren't a little heavier.
That's cold dude. New member? Is that you trade04?
Posted by Katrina7 on :
Hey guys,
Just heard from AW. Said Q is still at auditors. Think its gonna be a tough act for him to get it back and get it edgarized in less than two hours.
Just dont want people to flip if it isnt out today.
Gotta love the ridiculous jostling going on with etrade/nite...sure wish is was a lot higher. At least people arent selling down here.
Kat
Posted by binsleep on :
Kat: Thanks for the update
Hopefully they'll get it out tomorrow.
Posted by Aldeberon on :
quote:Originally posted by BlueHen: Good lord, if some of you folks haven't figured out by now that Welch is nothing more than a scam artist, then you are beyond hope.
A basher? Already? We must be really ready to run Posted by Aldeberon on :
quote:Originally posted by binsleep: Al,
I agree with your statement above. I think as soon as the Q comes out, we should either abandon this thread for a new MODC thread, or have the moderators change the name for us. Come to think of it, can the owner of the thread change the name?
Hey Bin I don't think the thread starter can change it once they've started it. Plus, we need to jump forums now that we're not ".10 and below" anymore Posted by binsleep on :
I think we have the option of moving threads over forums too. They did it with NDOL when it popped over $1.00. In this case, though, I think it would be best to start a new thread since the ticker symbol has changed.
Here's hopin' for a Q tomorrow Posted by Aldeberon on :
Hey Bin
How's bout we start a new one with the Q?
Posted by binsleep on :
Works for me!
I'll be over here waiting patiently with my sledgehammer for the auditors to finish up.
"Oh this little 'ol thing? Don't worry about that boys, you just take your time.... "
Posted by Aldeberon on :
Hey Bin works for me. And give Welch a good slap across the forehead with that thing when you're done terrorizing the auditors with it Posted by binsleep on :
Don't worry, I'll make sure there is collateral damage Posted by Aldeberon on :
Tell him to write it off as "roof debris" Posted by Katrina7 on :
Anyone heard from AW today?
This waiting is driving me nuts.
Posted by binsleep on :
It wasn't me! Posted by binsleep on :
Anyone up for some cow tipping ???
This sucks.
Posted by Katrina7 on :
I'm up for a trip to mississippi to kick some ass, thats what im up for.
Posted by binsleep on :
Kat, don't forget to take this!
Posted by Aldeberon on :
Have you seen that Sprint commercial during the Super Bowl with the "theft deterant?" I can see throwing that at Welch's head if indeed the Q is late again.
Assuming, that is, she doesn't carry her sledge hammer with her.
Posted by Katrina7 on :
f*********************************CK
I am so sick of this. someone just put me out of my misery.
How hard is it to get out financials on time? How hard?
UGGGGGGGGGGGGGGGGGGGHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH
Posted by BlueHen on :
Come on. What the heck do expect? Welch is a scam artist.
Posted by trader_124 on :
welch is full if $hit 3rd late filling why not to go for the 4th
Posted by Aldeberon on :
Welch has accomplished all of his goals thus far. The reason we do not own Harvey right now is not because Welch couldn't land it, but because HRVE fired their board, took on new management, released plans to dilute their stock, and is being delisted in 27 days. Sound like something you want to buy right now? He would have been a fool not to rescind his tender offer after that restructuring deal. HRVE will be a lot cheaper next month on the OTC and will have just as much revenue.
Now the late filings on the other hand, there is no excuse for. Not this late in the game and with so much on the line for shareholders. He better get his act together before ALL of his shareholders give up on him.
Posted by trader_124 on :
ppl are holding because they got no choice. No volume thats why ppl are holding not because they still trust this crap...
Posted by Katrina7 on :
I can only wait for the auditor. I feel we are close. I really have no control over it. It prepped, on time, and submitted to the auditor at least two weeks before dealine. Thie is per the auditor’s guidelines to us. We have done so, including last Q and yet he slows to a crawl.
That is where we are again.
So, I wait.
After this Q, we will be moving a lot of accounting and admin functions to new people who have no other task that to prep filings. The issue of ‘late’ Q’s would have been fixed by the HRVE deal, but we are on hold on that deal right now until we see how the stock price is going to shape up (or ‘down’ as I believe). So, operationally, we are going to make a lot changes to add equity, cut costs, eliminate all unprofitable business operations, and improve infrastructure. Simple as that, although not simple to do. The “Q” issue is one of my biggest aggravations.
On 5/24/06 8:29 AM, wrote:
Anthony,
Is the Q coming? We really cannot afford an E.
Thanks
Posted by Aldeberon on :
Well, at least he is finally doing something about the accounting situation.
Posted by BlueHen on :
And you believe thr crook? LMAO
Posted by bobcat88 on :
Go away if you dont have anything positive to contribute.
Posted by Aldeberon on :
No, see, Blue Hen thinks that MODC is a good steal down here. That's why he is spending time bashing it. He signed up just so he could post in this thread (look at his posts history.) Why else would someone post consistently on a stock they don't own? To keep it from running so they can get more shares, that's why.
It's been said before: Bashers never bash a bad stock.
So here's to the inevitable MODC run Posted by Interesting on :
quote:Originally posted by Katrina7: I'm up for a trip to mississippi to kick some ass, thats what im up for.
I will go with you.
Posted by Katrina7 on :
good interesting very good. Are you a large fella? Bin has already given me a can of Wup-ass.
I'm serious. It things dont look up, I will be going to oxford to see Mr. Welch. No joke about that....
He is on my list....and as the old timers round here know, you dont want to be on my list.
Gotta love the spread.... .1001 X .20, this is so awful its almost funny.
Blue Hen you are wasting your time bashing here...move along.
Posted by Interesting on :
Not really but I am no little guy either, and I need to get some of my aggression out, the Gym alone is not cutting it. I don't see the right for a company to do an RS when the new pps is not established either.
Posted by Katrina7 on :
Interesting, are you in this POS, and how much damage you got?
Posted by Interesting on :
I am down only about 2K. But the way the market has been lately, it is all adding up... or down.. I can barely imagine what you are going through but I imagine it is rough. One thing's for sure, there are a lot of support on this board.
Posted by binsleep on :
Interesting: That's because we're idiots
Kat, thanks for the info from AW. Glad to see he's finally showing some frustration. At least we know he's motivated to fix it now!
Posted by binsleep on :
Kat,
You can have as much as you need. At 6'3, 260 lbs, I've got enough wup-ass to spare Posted by binsleep on :
So, how long before we are blessed with an "E" ?
I kind of miss the little guy....NOT! Posted by Aldeberon on :
I think we have until next Monday/Tuesday? Welch has made it clear to the auditors when the deadline is. Not that it mattered in the past...
Posted by binsleep on :
Monday is a holiday, so probably Tuesday. Tomorrow may be a slow day as people either blow off work for the day, or take off a tad early to beat the rush. We really could have used this today Posted by Aldeberon on :
I think you're right Bin, Tuesday would be better for the market's reaction. Not that many people around tomorrow I bet.
Posted by Katrina7 on :
My email is at bottom. Here is the latest from AW:
People are waiting on the Q and PR. Both of which you can expect shortly The Q is done. Period. The auditor wasn’t in the office today. I hope to file tomorrow.
But I do not commit.
PR tomorrow or next biz day as well on new developments
On 5/25/06 2:12 PM, wrote:
Any chance the Q will be out this week? Is it correct that you have until the 30th before the E comes?
Are you worried that MODC has basically stopped trading all together? Yesterday $500 in volume, today none....
Posted by Aldeberon on :
Hear that? No "E"! Posted by BlueHen on :
Katrina, it is impossible to bash this stock.
Posted by Katrina7 on :
Yeah, we all know that. The fact we are excited about not getting an E should tell you something.
Just lay off...we all feel like sh*t already.
Posted by Katrina7 on :
Good morning everyone.
Lovely "e" attached to our new ticker. Good job.
Just hope people don't panic and start selling at the bid, that would be a disaster.
Posted by WarpedMind on :
Blue Hen, why are you here? Honestly, why?
We don't need all the negativity. Not saying you're not right about some of this... we all can see the negative stuff here. Believe me, I am not happy either right now. But you focus and dwell on it. Do me a favor and don't post anything else for a while unless you can contribute something worthwhile.
Posted by Stocktrader20 on :
BlueHen your nothing but a troll. Get a life
Posted by Katrina7 on :
stocktrader....you still holding? watcha make of this mess?
Posted by Stocktrader20 on :
Hi, Katrina I sold 3 weeks ago for a modest gain. The quarter filing was a great concern for me due to MOTG's past on late filings. I emailed Welch about the quarter filing two weeks prior to the due date and his response wasent what I wanted to hear, he more less said he didnt have much control over it and couldnt guarantee the filing would be on time so, I thought it was best I sold MOTG and waited for it to dip lower. And also you remember our little conversation? You showed me an email from Welch, he stated some things in that email to you that had me very concerned. I told you I didnt like what he said in that email at all. So, I didnt want to take a chance, I never thought he would pull off a stunt like this so soon. But if you didnt sell before the reverse split, id say this will see some movement after the quarter filing, if it reflects the 300% revenue increase. I wish everyone here the best. Oh yeah I hope some of you got in TIV when I mentioned it on here two week ago at $5.88, TIV is currently trading at $7.50, TIV will see $10 or more soon. GLTA
Posted by Aldeberon on :
BlueHen User Added to Your Ignore List!
Posted by Katrina7 on :
okay, I cant believe I am posting this
AW says Q on tuesday. Maybe he learned something from annoucning INM the day before a holiday.
Ya'll have a good weekend.
Kat
Posted by binsleep on :
If the Q does come out on Tuesday, the E should be off on Wednesday
I'm glad I was golfing today and not watching the market. Posted by binsleep on :
Have a great Memorial Day weekend everyone. Be sure to take some time out to remember all those who have given their lives for our freedom.
See you all on Tuesday.
Posted by Johnwayne on :
Guys - I don't mean to be negative but you gotta be kidding me. THE Q is going to be late again. My God this thing is a POS. It really is. Unreal. Other than QBID I think this is the worst mess I've ever seen. Welch should have put this POS on the pinks if he was never gonna file on time.
Well good luck all. You guys deseve better than what you got out of this maggot infested deer carcus.
Posted by Aldeberon on :
That's very helpful Matto thankyou Posted by BlueHen on :
Johnwayne, the few remaining true believers and Welch kiss-a**es don't want any reality posted. All they want to see are posts which tell them that Welch is really a good guy who is going to come up with a miracle.
Posted by Johnwayne on :
blue hen- Idon't blame them for holding on to a ray of hope. I've been there myself. I sold this last fall or winter because They didn't file on time and was flabbergasted that Welch is still using the old in the hands of the auditors line.File the dang thing on time. OK we get it the auditor is slow. Here's an idea, turn it over to the auditor a little earlier next time. Sorry guys I guess I just lost my cool for a few posts. I truly hope that everything works out for the best here. And I am not Matto, I'm not near as good at this game as he is. Besr of luck to all.
Posted by Ragedbull777 on :
quote:Originally posted by BlueHen: Johnwayne, the few remaining true believers and Welch kiss-a**es don't want any reality posted. All they want to see are posts which tell them that Welch is really a good guy who is going to come up with a miracle.
What do you care what people here believe? Do you get pleasure out of rubbing it in. I know it's a long shot, but there's always hope as long as the company is a going concern. There are many good people here and I would like everyone to make money. That's what it's all about.
Be a good guy bluehen and maybe you'll get a rating of 2 or better.
GLTA RB
Posted by binsleep on :
This is awesome.
*grumble* Posted by Aldeberon on :
Well, it looks like the hen got silenced. I hope he gets a chance to buy his shares!
I'm with you Bin this sucks. Kat and I are anxiously awaiting the Q with a real-time news streamer.
Posted by Katrina7 on :
I hope the moron gets the news out tomorrow. Jesus. After a three day weekend. Lets get the auditor.
Posted by BigBuyer100 on :
That's Because they are not done Diluting. Once Dilution is complete then Q will follow. I'm just waiting for there lovely 300% Increase in Revenue like they Promise in previous PR'S Before they did there Reverse split.
I sure Hope it is 300%+ !
Hmmmm. I could smell "Civil"
Posted by Katrina7 on :
Big Buyer---I wondered when you would show. Are you still in this POS, your 2 mil shares at .025, was it?
There is not enough volume for dilution...lol.
Posted by tingo on :
financials released!!
Posted by binsleep on :
tingo, where do you see this? The last thing I see filed was the NT-10Q stating that they would be filing late. No financials yet, I'm afraid.
Posted by Aldeberon on :
Yeah cough it up Tingo.
Posted by tingo on :
sorry guys, I think I'm wrong... I saw a new financials released on http://finance.yahoo.com this morning, so I thought this was it, but its from March 05.
Posted by Aldeberon on :
No problem there Tingo just got us a little excited that's all. Thanks for clarifying.
Posted by binsleep on :
tingo, no worries. I had a feeling that is what you were talking about
They should have been out by now. Welch should be cracking some auditor skulls.
Posted by binsleep on :
Almost had an elmo incident Posted by Aldeberon on :
Kat left this morning driving east with a full tank of gas, a shotgun, and some dangerous looking roofing material. I'm sure she'll beat that Q out of Welch in no time Posted by bobcat88 on :
1 trade today - Just slightly more boring than watching the quarterfinals of a curling tournement.
Posted by Ragedbull777 on :
quote:Originally posted by bobcat88: 1 trade today - Just slightly more boring than watching the quarterfinals of a curling tournement.
I've never watched curling. I know watching fishing on television is very intense. Not! Posted by Aldeberon on :
Just to show you how loupey I am getting watching this stock. I just started singing this song to the tune of "Baby I Love Your Way"
Oooh, baby the Q is late Every day Just wanna tell you the Q is late Every day Wanna find Welch and step on his face Oh, yeah
... okay back to waiting.
Posted by binsleep on :
LOL
Posted by binsleep on :
Welch,
Get the Q out, already! While you're at it, you may want to see a doctor about your "problem."
Posted by Aldeberon on :
Looks like Bin and his camera beat Kat and her chainsaw to Mississippi.
Bin, if you're still there, try to get a shot of Kat chainsawing Welch's desk in half.
Posted by binsleep on :
Say hello to my little friend...
Posted by Katrina7 on :
I actually do have a chainsaw, I got it in my divorce settlement. And I'm not afraid to use it.
Sorry to those of you who count on me the info, I think I pissed him off by sending some nasty emails.
Oh well....
Posted by Aldeberon on :
OMG that is HILARIOUS!
Kat, I see you picked up a new outfit on your way through Texas.
Posted by binsleep on :
Page 6, not too shabby...
This is re-goddamn-diculous.
Posted by bobcat88 on :
dropped to the 6th page, did me move the thread already? or are you guys just that disgusted in the fact that we still have the E?
Posted by binsleep on :
Disgusted would be an understatement...
Posted by Katrina7 on :
Yes, we all suck.
And I am so mad at AW and about this stock. I guess I've sent one too many nastygrams to him
Although a friend of mine emailed me and said welch said finishing the details. Oh yeah, and he said this would never happen again. I think I've heard that before.
Any of Yall in XKEM? Nice ride
Posted by binsleep on :
Nice Kat! Nope, I'm sort of tapped out in losing positions at the moment. Bernanke and his market can go scratch! Posted by bobcat88 on :
I have resorted to getting excited over just two trades going thru, pathetic.
Posted by Aldeberon on :
My hope is that he is waiting on some "deal" so he can put out a big pr and the Q simultaneously. At least, that's what I keep telling myself.
No Form 4 yet, right?
Posted by Aldeberon on :
quote:Originally posted by bobcat88: 1 trade today - Just slightly more boring than watching the quarterfinals of a curling tournement.
Didn't Toby Keith join the US Curling team or something like that?
Posted by CMoney on :
So pros, What lessons was I supposed to gain from this experience. I was in since Nov *.067, incresed my position periodically to bring average down to .042. Then 3weeks before split, I sold *.0285 for a loss of maybe $1000. It was my first real play; just trying to gain and retain the lesson that I paid $1000 for.
C$
Posted by BigBuyer100 on :
The way things are going we will be looking for the next Q when this Q comes out a week later. IMO
I guess AW is scared to report because he might have lied about that 300% increase, or is he trying to add a few more months onto the last Q to make it look like a 300% Increase. LOL
Just waiting for the Q. Attorneys are on standby
Posted by Aldeberon on :
All the pros got out before the split I'm afraid C$ Posted by bobcat88 on :
C$
You gained a deduction to counter the gains you will make elsewhere, is all I can think of.
Posted by BigBuyer100 on :
quote:Originally posted by Aldeberon: All the pros got out before the split I'm afraid C$
YEP, They sure Did. I beleive If I remember Correctly they were considered the bashers for warning others on this board. Some people here took AW's Letters and Phone conversations to heart.
Either way the Bed seems to be made.
GL and Told YA SO!
Posted by Ragedbull777 on :
quote:Originally posted by BigBuyer100:
quote:
GL and Told YA SO!
you like rubbing it in, don't you?
Posted by Skyman on :
Any one talking or emailing to AW? Any news? The last Q is way overdue. Whazzup?
Posted by Katrina7 on :
I heard from a friend that the Q is waiting final approval. That it will be followed by several PRS and that he is talking to three acquisitions.
That's all I know.
Posted by Katrina7 on :
AW says Q coming soon...he says last final moments I assume that means today.
Posted by bobcat88 on :
Nice that everyone is so optomistic about how good this Q will actually be, sure is alot of trading going on! You'd think that there would be some pre Q release volume going on but there has been like 4 trades this whole week. Dont seem that good to me.
Posted by WarpedMind on :
quote:Originally posted by Katrina7: AW says Q coming soon...he says last final moments I assume that means today.
LOL! You mean he actually wrote you back?
Anyways, I've got some great news! Once the Q is released, a new accounting team will be rounded up to replace this disaster of pencil pushers. IMO, the accountants have done more to hurt this company than any other factor.
Posted by bobcat88 on :
Are we in the final moments yet? 8 mins left for the day.
Posted by Aldeberon on :
In case anyone here is panicking, the OTCBB gives a 30 day grace period after the assignment of the E. No reason to sell off yet imo.
Posted by richone on :
I heard from a friend who heard from a friend's sister in-law whose friend said the Q will be out soon. Oh, and lots of other good stuff too!
Posted by Aldeberon on :
We lose E Tuesday. Welch says pr when E comes off.
Posted by Skyman on :
It seemed to me that revs were up, gross margin was up, but expenses were up by a larger amount leading to bigger losses especially in the net loss per share. Did I see that right?
Posted by Skyman on :
I'll wait until we see the pr's. Better be good.
Posted by richone on :
What he should PR is an apology to the people who bought into his scheme, for losing their money on a failed business plan, poor leadership, and bad decisions. What a loser he is.
Posted by Ragedbull777 on :
Wow! Last trade went at .06.
Posted by emich25 on :
kat look at atwt and other on this board they might make a move and are relatively cheap .006...motg/modc has been my biggest mistake since gccp..i told myself i wouldn't be conned again yet i was by anthony and his emails...it was untill i started comparing emails with other posters that i knew aw was full of it..and after he finnally accepted my phone call. i had emailed him 100 times before he accepted my phone call and when i asked him if i could call him his response was why? megan was worthless. I am pissed as pissed can be when i think about aw and the many people he phucked by mis leading pr's and emails...i swear all the man does is sit at a computer and answer emails...i have said it many times...what i hope is that the final sell off occurs and this stock becomes ill liquid...img ceo's will be screwed cause they got paid half on restricted shares. same with sound city. when there is no market to be had these guys will be screwed...ajw will have to continue to dillute but who do they sell to if there are no buyers. and finnally how does aw make 90k a year if he can't sell shares...i want to see this company stop trading and close up shop...and if aw ever establishes another scam like this i will be there to warn other investors...
Posted by tingo on :
Modern Technology Corp Reports 509% Revenue Growth Over 9 Months and 300% Revenue Growth Over Same Quarter Compared to Prior Year Monday June 12, 8:30 am ET
OXFORD, MS--(MARKET WIRE)--Jun 12, 2006 -- Modern Technology Corp (OTC BB:MODCE.OB - News) reported revenues for the three-months ending March 31, 2006 to be $4,671,322, or an approximate 300% increase over the same period last year which reported revenues of $1,547,793 for the three months ending March 31, 2005. Revenues for the nine-months ending March 31, 2006 were $7,871,185, or an approximate 509% increase over the same period last year. ADVERTISEMENT
Anthony Welch, Modern Technology Corp's Chairman, said, "As we have committed, our revenues continue to increase. Our revenues have grown substantially and our profitability plans for 2006 have resulted in strong cost savings to be reflected in the next quarter's filings. We are making excellent headway in achieving operational profitability and our current quarter's losses are significantly attributable to one-time write-downs and expenses. As promised, to increase earnings we are restructuring or eliminating unprofitable operations. We are making great strides and will have much to report soon. We have further acquisitions of profitable, cash-flow positive companies under consideration that if acquired substantially increase revenues and earnings. We will announce these as they occur. We will announce updates and guidance on our operations and earnings projections in the near future."
This guidance is the company's best, good faith estimate based on current conditions and numerous assumptions about the company's industry, its access to financing, the competitive and regulatory landscape and its ability to successfully consummate the acquisitions under consideration.
About Modern Technology Corp
Modern Technology Corp, a diversified technology development and acquisition company, builds revenues through continuous growth, strategic acquisitions, and commercialization of nascent technology. MODC improves operating efficiencies through the elimination of cost redundancies and realized synergy between subsidiaries. MODC also commercializes new technology and provides to its subsidiaries new product lines, operations infrastructure, and significant intellectual capital. The company's mission is to build shareholder value through a model of continuous growth. Web Address: http://www.moderntechnologycorp.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact: Company Contact: Megan Peterson 1.662.236.5928
Modern Technology Corp 1420 North Lamar Blvd. Oxford, MS 38655 USA Phone: +1.662.236.5928 Fax: +1.662.236.7663 Web: http://www.moderntechnologycorp.com Posted by tingo on :
up 102 % today, but still down 82 in my account Posted by Ragedbull777 on :
Anyone pick any shares up on Friday at .06? Today that looks like a great pickup. GLTA
RB777
Posted by Ragedbull777 on :
WOW up 175%. Posted by Ragedbull777 on :
You all starting a new topic with the latest PR?
Posted by Aldeberon on :
I was thinking the same thing Raged. But someone just created a new thread under "MODCE."
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GRRRRR Where are my steel toed shoes?
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