This is topic MODC: 509% revenue increase, low float, & looking for acquisitions! in forum Micro Penny Stocks, Penny Stocks $0.10 & Under at Allstocks.com's Bulletin Board.


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Posted by Aldeberon on :
 
MODC DD page

Modern Technology Corp.
Founded 1982
Began trading publicly July 2004 as MOTG
CEO: Anthony K. Welch
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

MODC 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 9 months ended March 31, 2006: $7,871,185, an increase of 509% over last year
Audited Assets ending March 31, 2006: $6,575,669

Authorized Shares: 150,000,000
Outstanding shares: est. 3.5 million
Float: est. 2.85

Portfolio

MODC owns 51% of Sound City, a high-end consumer electronics company. Watch for news on this important MODC-owned company as they are constantly announcing new contracts and new 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 could be the most promising of MODC’s subsidiaries to date. 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 MODC is working to introduce H-net to the medical industry and may be working on introducing it to the insurance industry as well. On May 12 MODC announced its intention to spin off Hnet and give free shares of the company to all MODC holders on record at the time of the future spin-off announcement. H-net is expected to produce revenue for MODC late in 2006. Watch for news of future H-net contracts as Welch pushes this technology into exciting parallel industries.

MODC 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 announced record revenue totals for the month of February. Stay tuned for future contract announcements and more revenue increases for INmarketing Group.

On April 3, 2006 Anthony Welch announced that MODC had made a tender offer to purchase 51% of Harvey Electronics from its shareholders. Harvey, currently trading on the Nasdaq under ticker symbol HRVE, has received several delisting notices for its failure to maintain the minimum $1.00 listing requirement. The offer was voluntarily withdrawn by Welch after HRVE announced they were restructuring their board and planning to dilute their own stock. HRVE has until June 19 to increase its share price before becoming delisted. Welch is reportedly waiting for HRVE to become an OTCBB stock, with a much cheaper price, before considering another tender offer. This acquisition, if completed, would put revenues for MODC at about $65 million/year. Stay tuned for important updates as this development unfolds.

On May 12 as part of his plan to recapitalize the company, Welch affected a voluntary 20-1 reverse split of the common stock which put MODC in the position of being able to finance the acquisition of profitable companies, such as HRVE. One of these acquisitions may put Modern Technology in the position to apply for a listing on the Nasdaq. Keep watching for acquisition news as Welch makes full use of his new buying power.

http://www.moderntechnologycorp.com/
http://soundcity.com/retail/
http://www.h-net.net/index.phphttp://www.inmarketinggroup.com/home.aspx
http://www.harveyonline.com/

This DD page is my personal work. Though I have tried to make it as accurate as possible you are ALWAYS responsible for doing your own research and buying and selling decisions!

GL MODC!
 

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Posted by Aldeberon on :
 
3 month chart:


 

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Posted by Aldeberon on :
 
Awaiting pr's regarding:
New accountants
New acquisitions

Welch has his eyes on more than just HRVE. Stay tuned for updates from the CEO!

GL
 

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Posted by WarpedMind on :
 
Charts looking better, Al. RSI, MACD looking good.

Tell Kat I'm online... loaded MSNMessenger on my work PC.
 

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Posted by Aldeberon on :
 
I'll tell her - but I don't think they have wireless broadband on the beach yet
 

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Posted by WarpedMind on :
 
CFO resigned.

IMO, this is a good thing. As you know, we've had a crappy time because of the accountants always being late. AW said he was going to change accounting teams.

Now, the CFO, I believe, either owns the current accounting firm or is somehow attached to it. So this is my guess... pure speculation...

AW insisted on accountant change. CFO didn't like it because it affects him on a personal level. So CFO resigns, implying that AW is firm on his decision to change accountant firms. Hopefully, that means that we'll have an improvement in accounting practices.

So everyone, hang on... changes are acomin'!
 

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Posted by Aldeberon on :
 
Warped - makes sense to me! Welch is cleaning up shop and is finally taking it to everyone who is holding this stock down. You're right, Church was somehow tied into the accountants who got us E after E after E... no more!

The ballast is gone. Here's looking up!
 

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Posted by binsleep on :
 
This is great news! Glad to see Welch takin' out the trash. I still think this is a 50/50 shot, but as one of the longs here, I'm betting AW will get us there.

GL everyone.
 

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Posted by binsleep on :
 
From a previous Quarterly filing: "Our principal office at 1420 N. Lamar Blvd., Oxford, Mississippi 38655 is provided to us at no charge by Mr. Church, our CFO and Director."

Wonder if Mr. Church will continue being so charitable now that he is longer the CFO?
 

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Posted by joker669 on :
 
I still think this is gonna go big!! Charts look great, low float (only a little over 2 million), moves easily. Only 2 mm's holding wall at .17 then 1 at .60 and 5 at 1.01. When people quit WATCHING this and get in they will see how fast this thing runs. Couldn't believe someone sold at .12 yesterday, that was just stupid in my opinion.
 

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Posted by richone on :
 
Welch is an inept CEO, will be an inept CFO IMO. He has done nothing but drive the stock down. It may be a good play for a quick gain on some news, but keep your finger close to the sell button. GL
 

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Posted by booya on :
 
this will go big soon as we get past .17
 

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Posted by WarpedMind on :
 
Ok folks, I've got confirmation from the man himself... Church's resignation was "requested" and is part of Welch's efforts to clean house and the accounting team. He said that the company cannot afford any more late filings and is taking action, finally, to prevent the e from coming back again next time.

Guess I was right on the money.
 

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Posted by binsleep on :
 
Warped: You da man!

Looking forward to seeing Rally Monkey coming out of retirement. It's been a long time...
 

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Posted by WarpedMind on :
 
Let's just hope Rally Monkey feels like dancing soon.
 

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Posted by Jason0321 on :
 
Is the O/S really 2M?
 

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Posted by joker669 on :
 
yes it is which is why it moves so easily
 

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Posted by WarpedMind on :
 
by the way, the offices are staying put and there is no drama going on up there... everyone is happy and fine and business (or not) as usual.
 

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Posted by Aldeberon on :
 
MODC also leases space from Welch. From the last Q:

Related Party Transactions

We lease an administrative office from our CEO, Anthony Welch for $850 per month.

So we won't have any real estate issues in the future, methinks.
 

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Posted by joker669 on :
 
gap between bid and ask closing 13x168 now
 

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Posted by jimmer on :
 
not a single share sold in the entire day? this seems a littel strange..........
 

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Posted by Ragedbull777 on :
 

quote:

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Originally posted by jimmer:
not a single share sold in the entire day? this seems a littel strange..........

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quote:

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Originally posted by Katrina7:
Hello Fellas,

Yes, its true, I'm at the beach, getting the news from Al. Oh, and thanks for the nice plug al.

I've talked to Welch several times, he seems confident that he can turn this around with some new acquisitions and discipline on the spending.

I think ya'll have the right idea--if the longs hold onto our shares, this thing has to go up.

Good luck everyone. Ill be back home in a week.

Kat

Ps I get to meet Warped tomorrow. I'll tell yall if he wears a cape and carries a triangle.

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quote:

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Originally posted by Aldeberon:
MODC also leases space from Welch. From the last Q:

Related Party Transactions

methinks.

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quote:

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WoW. I didn't Know you do that.

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quote:

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Originally posted by Aldeberon:

quote:

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WoW. I didn't Know you do that.

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That's pretty funny BB. What's even funnier was watching you buy 2,000,000 shares of MOTG a month before the R/S.

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quote:

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Originally posted by Katrina7:
Ps I get to meet Warped tomorrow. I'll tell yall if he wears a cape and carries a triangle.

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Well? Enquiring minds want to know!
 

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Posted by Aldeberon on :
 
MM's are ready to let this run.
 

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Posted by Ragedbull777 on :
 
Volume is decent today. Over 52K shares traded.
 

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Posted by Ragedbull777 on :
 
Volume over 100,000 shares. Are they diluting again. That's a lot of shars. taking the split ration that's over 2 millions shares traded in less than 2 hours.
 

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Posted by Ragedbull777 on :
 
Did everyone jump ship?
 

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Posted by jimmer on :
 
I am still here and not worth much at the moment. No doubt this stock is a huge dog but how low can it go? 0.01? The company will then be worth $20K. Maybe I'll buy it and put it on e-bay.
 

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Posted by binsleep on :
 
RB: Nope, still here. There's just nothing happening right now, at least on the forefront.

FWIW, I finally received a response from Mr. Welch last week. He basically just reassured me that the recapitalization of the company was to benefit us for the long term. Take it with a grain of salt. I'm only here because I had very little invested to begin with.

Good luck everyone. Markets sure are tough right now!
 

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Posted by Ragedbull777 on :
 

quote:

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Originally posted by jimmer:
I am still here and not worth much at the moment. No doubt this stock is a huge dog but how low can it go? 0.01? The company will then be worth $20K. Maybe I'll buy it and put it on e-bay.

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Believe it or not that is possible. I personally think .05 is about the lowest but one never knows. It's very risky but high risk could be high reward.

What was AW thinking when he did the RS?
 

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Posted by Ragedbull777 on :
 
Fellow MODC'ers, take a look at IMNR. A run may be coming. JMHO.
 

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Posted by Ragedbull777 on :
 
test
 

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Posted by binsleep on :
 
In Welch's response to me last week, he mentioned that they were still busy replacing the accounting team to fix the problem with late filings. With the quarter ending tomorrow, this is the most probable reason why there hasn't been much in the way of PR's lately.
 

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Posted by richone on :
 
Just another lame excuse from a lame CEO.
It's always someone else's fault.
The man is ashamed to be quoted in any PR's now, who's gonna believe him?
 

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Posted by Katrina7 on :
 
Heya guys,

So now I'm a pathological liar, huh....yes, it's true I don't really own MOTG and I'm not really down 50k. I WISH!

People buying a little today at .07. Today is the first day its been mostly buys. I guess folks think they are safe. AW claims he's working on something, but dont know what. I really hope we are not going to settle in here....that would be a nightmare.

Yes, Warped and I had a lovely lunch. He brought me nice flowers, and my daughters m&ms. I was very disappointed to discover he is much more normal than any of us could have expected. No cape at all....
 

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Posted by Ragedbull777 on :
 
Hey Kat, how are you doing? Well I hope. How was you trip? Take care and have a good 4th of July weekend.

Eddie
 

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Posted by binsleep on :
 
Hope everyone had a great 4th. Let's hope Welch and crew can get the Q out on time.
 

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Posted by WarpedMind on :
 
Hey Kat,

Sorry I disappointed you with my normalcy. I was just in my Clark Kent mode... left the cape at home. Doesn't mean I don't have one! ;-)

(But I DON'T play the triangle!)
 

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Posted by binsleep on :
 
Its awful quiet around these parts lately!


 

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Posted by CMoney on :
 
just peeking in.

Whats up with that offer to buy HRVE again? Any news or anything


C$
 

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Posted by Katrina7 on :
 
Hey Fellas,

Been travelling a ton and have just stopped looking at MODC in hopes that I will wake up from my nightmare with some money.....

Got nothing new from AW, but it looks as if the serious selling is done. Heading out again for CO on Monday. C yall in August.

Kat
 

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Posted by bobcat88 on :
 
Dang, 3 trades already today, something MUST be going on!
 

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Posted by binsleep on :
 
Anyone heard anything from Welch? Must be vacation time in Mississippi
 

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Posted by bobcat88 on :
 
I think everyone that has had anything to do with this has been abducted.
 

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Posted by binsleep on :
 
bobcat: nice conspiracy theory. I'll buy it!
 

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Posted by Thirb on :
 
With a lost per share of 0.14$ this Q!!!! LOL
 

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Posted by binsleep on :
 
FWIW, AW says they are working on getting financials out and to expect some important news soon. He didn't specify a time frame, however, I would suspect that he'll be doing everything in his power to dodge the dreaded "E". I don't believe for one second that he's been sitting on his thumbs this whole time.

Hope everyone is hanging in there. Keep your heads up. (Not too high, though, the axeman aims low!)

OFF Topic: WWEN closed HOD and should gap tomorrow morning. Rumored additional news on Thurs. I jumped on the ship too early when I bought a few months ago at .38, but I was able to average down to .18. It finally paid off nice today. Expect big things in the coming months from them.
 

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Posted by binsleep on :
 
Okay, you guys are starting to scare me. Where the heck did everyone go?
 

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Posted by bobcat88 on :
 
Aliens! I'm telling you, aliens!
 

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Posted by Thirb on :
 
With JMCP!
We are on this board too!
take a look....
 

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Posted by WarpedMind on :
 
Still here. Just got back from vacation. By the way, I too am in JMCP.
 

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Posted by Ragedbull777 on :
 
Price per share is starting to look appealing. Last trade went at .04. May jump back in at .02, if it goes that low. I guess if AW has his way it might. GLTA
 

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Posted by Stocktrader20 on :
 
at .02, MODC's market cap would only be $50,000.
 

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Posted by Ragedbull777 on :
 

quote:

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Originally posted by Stocktrader20:
at .02, MODC's market cap would only be $50,000.

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Maybe we should do a hostile takeover. I say let's make Katrina CEO.
 

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Posted by binsleep on :
 
Kat for CEO! Brilliant!
 

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Posted by Ragedbull777 on :
 
How's it going binsleep? You hanging in there?
 

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Posted by binsleep on :
 
Oh yeah, head is still under water, but every once in a while someone throws down a breathing tube.
 

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Posted by booya on :
 
good bottom here low floater
 

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Posted by booya on :
 
good bottom here low floater
 

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Posted by Ragedbull777 on :
 

quote:

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Originally posted by booya:
good bottom here low floater

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quote:

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Originally posted by bobcat88:
Mistake, will be even at $1.1809

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quote:

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Originally posted by northwoods:
Did anyone here get an Independent Contractor Agreement from AW?

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quote:

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Originally posted by northwoods:
Yes i am. Did you get one?

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quote:

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Originally posted by Ragedbull777:

quote:

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Originally posted by northwoods:
Yes i am. Did you get one?

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I sold all my shares. Does that mean I am out of luck?

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quote:

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Originally posted by northwoods:
I emailed AW and said that i wanted my money back. He offered me free-trading shares if i signed this:

Independent Contractor Agreement
This agreement shall serve as an Independent Contractor Agreement between Modern Technology Corp. (The Company) and ____ (Contractor).
RECITALS
A. Contractor has special skills, training, experience, knowledge and ability to locate, evaluate, negotiate and complete the acquisition of various businesses within the United States (“Consulting Services”) and The Company desires Contractor to provide such Consulting Services; and
B. Contractor seeks to be retained by The Company which seeks to retain Contractor under the terms and conditions set forth below.
NOW, THEREFORE, in consideration of the mutual promises and agreements
hereinafter set forth and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:
1. Incorporation. The foregoing recitals are incorporated herein as if fully rewritten herein.
2. Independent Contractor. At all times during the Term (as hereinafter defined) of this Agreement, Contractor shall perform the duties and responsibilities identified in this Agreement as an independent contractor and not as an employee of The Company. The Company shall not withhold any federal or
state taxes, social security, unemployment compensation or other payments from the Commission (as hereinafter defined) paid to Contractor. Contractor shall pay all federal and state income taxes, social security contributions and all other taxes and charges levied or assessed with respect to the
Commission received by Contractor pursuant to this Agreement. Contractor agrees to abide by all applicable federal, state and local laws, ordinances, rules and regulations in performing the
duties and responsibilities required of him hereunder. In addition, Contractor agrees and does herewith indemnify, defend and hold The Company harmless from any claims, losses, liabilities or expenses it or its affiliates or subsidiaries may suffer, including reasonable attorney’s fees, arising as a result of Contractor’s failure to pay all withholding obligations and tax liabilities associated with the
Commission(s). At all times under this Agreement the Contractor is acting and performing as an independent contractor and shall not be considered an employee or agent of The Company.
3. Term and Termination. This Agreement shall be deemed to have commenced on the Agreement Date as executed and shall continue thereafter until 5:00 p.m. E.S.T. one year from this date unless terminated prior to such date as hereinafter provided (the Term”). The Term may be mutually extended by a written agreement executed by both parties hereto: a. Prior to expiration of this Agreement as set forth above, either party shall have the right to terminate this Agreement, with or without justifiable cause, upon sixty (60) days’ prior written notice to the other party. Notwithstanding the foregoing, this Agreement shall terminate immediately upon the occurrence of any of the following events: (i) Contractor’s death; or (ii) Contractor being convicted of a felony or act of moral turpitude, or (iii) Contractor’s taking any action, in The Company’s reasonable judgment, that is likely to adversely affect the reputation, operation or business of The Company or its affiliates or subsidiaries. b. The Company and Contractor acknowledge and agree that no provision contained in this Agreement offers, guarantees or otherwise obligates The Company to continue to retain Contractor following the termination of this Agreement. Following the termination of this Agreement for any reason, The Company shall promptly pay Contractor (or Contractor’s estate) the Commission for services rendered to the effective date of the termination as outlined below. Contractor acknowledges and agrees that no other compensation, of any nature or type, shall be payable hereunder following the termination of this Agreement.
4. Duties and Responsibilities of Contractor. Contractor shall endeavor to identify new retail store opportunities for The Company and secure such sites and opportunities for The Company. Contractor, shall, upon authorization from The Company negotiate acceptance of such sites for The Company. Such sites and opportunites may be in the form of new stores or existing stores available for aquisition.
During the Term, Contractor agrees to be available to the agents and employees of The Company, on an as needed basis, to provide the Consulting Services as The Company may reasonably request, upon reasonable advance notice, in connection with The Company’s electronic, mining, and other business and financing operations. Contractor further agrees during the Term to be available, upon reasonable notice and at reasonable times, at The Company’s operations wherever situated. Contractor agrees to conduct himself, at all times while rendering services hereunder, in a professional manner and shall use his best efforts to make decisions and recommendations hereunder for the purpose of benefiting the financial success of The Company. Nothing contained in this Agreement is intended to, nor shall it be construed to, grant Contractor any exclusive rights to provide the services and duties described herein.
5. Compensation. Prior to the expiration or termination of this Agreement, pursuant to Section 3 hereof, The Company will make the following payments to Contractor as and for full and complete consideration and payment for any and all services rendered under this Agreement, whether rendered prior to, on, or after the Agreement Date (“Commission”):
b. Payment shall be in the form of MODC common stock, the amount of which shall be determined to be initially 150,000 shares.
6. Contractor agrees he shall not solicit any customers, suppliers, sponsors, or advertisers of, or other third-parties doing business with, The Company for the purpose of inducing, directly or indirectly, the termination of such entity’s or individual’s relationship with The Company.
7. The parties agree that in the event a court of competent jurisdiction shall determine that any aspect of the covenants and agreements contained herein shall be unenforceable for any reason, such court may modify the covenant or agreement to render such covenant or agreement enforceable.
8. Notice. Notices and all other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given when delivered in person or by a recognized overnight delivery service or upon receipt of a confirmed facsimile transmission or when mailed by United States registered mail, return receipt requested, postage prepaid, addressed to the last known address
of the respective parties, provided that all notices to The Company shall be directed to the attention of the ChIef Executive Officer, or to such other address as either party may have furnished to the other in writing in accordance herewith, expect that notices of change of address shall be effective only upon receipt. At least initially,
9. Governing Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of Arizona without giving effect to the conflicts of law principles
thereof.
10. Validity. The invalidity or unenforceability of any one or more provisions of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall
remain in full force and effect.
11. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.
12. Waiver of Jury Trial. THE COMPANY AND CONTRACTOR EACH HEREBY
KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY AND ALL RIGHTS THAT THEY MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH THIS
AGREEMENT, ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (ORAL
OR WRITTEN), OR ACTIONS OF THE COMPANY OR CONTRACTOR. THIS PROVISION
IS A MATERIAL INDUCEMENT FOR THE COMPANY AND CONTRACTOR ENTERING INTO THIS AGREEMENT.
13. Entire Agreement. This Agreement constitutes the entire agreement between Contractor and The Company with respect to the subject matter hereof and no agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by any party that are not set forth expressly in this Agreement. No provisions of this Agreement may be modified, waived or discharged unless such modification, waiver or discharge is agreed to in writing signed by Contractor and such officer as may be specifically designated by The Company.
14. Compliance with Law. Both parties hereto agree that if the manner of payment to the Contractor, or payment by The Company to the Contractor or any other provision of this Agreement, becomes violative of any law, including, but not limited to, federal or state taxation laws, rules or regulations, the parties shall negotiate a revision in the terms of the Agreement such that the
purpose for the Agreement and the benefits contemplated to be obtained by each shall be preserved to the greatest extent practicable. The parties further agree that in the event that compliance with the law substantially precludes the purposes for which this Agreement has been made, then this Agreement may be terminated upon written notice given by either party.
15. Indemnification: Contractor agrees to indemnify and hold harmless officers and directors of MODC for any and all past or future causes of action arising from their respective duties and officers and directors of MODC.
16. Miscellaneous. Negation of Agency. Nothing herein contained shall be deemed to create an agency, joint venture or partnership relation between the parties hereto and it is acknowledged that the parties hereto have only a relationship of employer/independent contractor.
Authority to Make Agreement. This Agreement is not valid or binding until and unless executed by the Manager or duly authorized party of both The Company and Contractor.
Assignment. This Agreement and the rights, duties and obligations hereunder may not be assigned by either party. Notwithstanding the foregoing. The Company may assign all of its interests, rights and
obligations hereunder to any of its parent entities, affiliates and/or subsidiaries or any other entity which is the surviving entity following a merger with The Company.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of July 30, 2006, intending to be bound by its terms and conditions.
THE COMPANY:
MODERN TECHNOLOGY CORP.
By: ________________________________
ANTHONY WELCH, Chairman
CONTRACTOR
By:_________________________________________
______________ , Contractor

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quote:

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Originally posted by Ragedbull777:
OS shares is 2.5M I believe

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quote:

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Originally posted by Stocktrader20:
at .02, MODC's market cap would only be $50,000.

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quote:

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Originally posted by booya:
O/S is 69.2m according to my info

52 Week High 0.58 Market Cap 2.07777M
52 Week Low 0.02 Shares Outstanding 69.2M

*Market data provided by ITS.

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quote:

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Originally posted by Ragedbull777:

quote:

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Originally posted by Stocktrader20:
at .02, MODC's market cap would only be $50,000.

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Last trade went at .03. That puts MODC's market cap at $75,473.46. Someone do a hostile takeover. If I hit the powerball, I am buying out the company and firing the CEO.

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quote:

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Originally posted by northwoods:

quote:

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Originally posted by Ragedbull777:

quote:

---

Originally posted by Stocktrader20:
at .02, MODC's market cap would only be $50,000.

---

Last trade went at .03. That puts MODC's market cap at $75,473.46. Someone do a hostile takeover. If I hit the powerball, I am buying out the company and firing the CEO.

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I read someplace that AW's salary was over 90k a year. That's more than the market cap.

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quote:

---

Originally posted by Ragedbull777:

quote:

---

Originally posted by northwoods:

quote:

---

Originally posted by Ragedbull777:

quote:

---

Originally posted by Stocktrader20:
at .02, MODC's market cap would only be $50,000.

---

Last trade went at .03. That puts MODC's market cap at $75,473.46. Someone do a hostile takeover. If I hit the powerball, I am buying out the company and firing the CEO.

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I read someplace that AW's salary was over 90k a year. That's more than the market cap.

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You mean when they did the reverse split it didn't include his salary? LOL

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quote:

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Originally posted by bobcat88:
What's happening, volume is going crazy! All these trades? more so far this AM than most full days over the last few weeks.

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quote:

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Originally posted by Ragedbull777:

quote:

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Originally posted by bobcat88:
What's happening, volume is going crazy! All these trades? more so far this AM than most full days over the last few weeks.

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People appear to be dumping or AW is diluting again. Probably both. GLTU

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quote:

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Originally posted by Stocktrader20:
Level II not looking so good.

.01 x .02

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quote:

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Originally posted by richone:
I've been waiting for the bottom myself to buy some...just seems like it is having trouble establishing a bottom.

What's AW been up to lately? Anybody heard anything from Mr. Genius?

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quote:

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Originally posted by bobcat88:
Someone is trying to make this look good, 100 shares at .04, $4 trade up 60%

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quote:

---

Originally posted by northwoods:

quote:

---

Originally posted by northwoods:
I emailed AW and said that i wanted my money back. He offered me free-trading shares if i signed this:

Independent Contractor Agreement
This agreement shall serve as an Independent Contractor Agreement between Modern Technology Corp. (The Company) and ____ (Contractor).
RECITALS
A. Contractor has special skills, training, experience, knowledge and ability to locate, evaluate, negotiate and complete the acquisition of various businesses within the United States (“Consulting Services”) and The Company desires Contractor to provide such Consulting Services; and
B. Contractor seeks to be retained by The Company which seeks to retain Contractor under the terms and conditions set forth below.
NOW, THEREFORE, in consideration of the mutual promises and agreements
hereinafter set forth and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:
1. Incorporation. The foregoing recitals are incorporated herein as if fully rewritten herein.
2. Independent Contractor. At all times during the Term (as hereinafter defined) of this Agreement, Contractor shall perform the duties and responsibilities identified in this Agreement as an independent contractor and not as an employee of The Company. The Company shall not withhold any federal or
state taxes, social security, unemployment compensation or other payments from the Commission (as hereinafter defined) paid to Contractor. Contractor shall pay all federal and state income taxes, social security contributions and all other taxes and charges levied or assessed with respect to the
Commission received by Contractor pursuant to this Agreement. Contractor agrees to abide by all applicable federal, state and local laws, ordinances, rules and regulations in performing the
duties and responsibilities required of him hereunder. In addition, Contractor agrees and does herewith indemnify, defend and hold The Company harmless from any claims, losses, liabilities or expenses it or its affiliates or subsidiaries may suffer, including reasonable attorney’s fees, arising as a result of Contractor’s failure to pay all withholding obligations and tax liabilities associated with the
Commission(s). At all times under this Agreement the Contractor is acting and performing as an independent contractor and shall not be considered an employee or agent of The Company.
3. Term and Termination. This Agreement shall be deemed to have commenced on the Agreement Date as executed and shall continue thereafter until 5:00 p.m. E.S.T. one year from this date unless terminated prior to such date as hereinafter provided (the Term”). The Term may be mutually extended by a written agreement executed by both parties hereto: a. Prior to expiration of this Agreement as set forth above, either party shall have the right to terminate this Agreement, with or without justifiable cause, upon sixty (60) days’ prior written notice to the other party. Notwithstanding the foregoing, this Agreement shall terminate immediately upon the occurrence of any of the following events: (i) Contractor’s death; or (ii) Contractor being convicted of a felony or act of moral turpitude, or (iii) Contractor’s taking any action, in The Company’s reasonable judgment, that is likely to adversely affect the reputation, operation or business of The Company or its affiliates or subsidiaries. b. The Company and Contractor acknowledge and agree that no provision contained in this Agreement offers, guarantees or otherwise obligates The Company to continue to retain Contractor following the termination of this Agreement. Following the termination of this Agreement for any reason, The Company shall promptly pay Contractor (or Contractor’s estate) the Commission for services rendered to the effective date of the termination as outlined below. Contractor acknowledges and agrees that no other compensation, of any nature or type, shall be payable hereunder following the termination of this Agreement.
4. Duties and Responsibilities of Contractor. Contractor shall endeavor to identify new retail store opportunities for The Company and secure such sites and opportunities for The Company. Contractor, shall, upon authorization from The Company negotiate acceptance of such sites for The Company. Such sites and opportunites may be in the form of new stores or existing stores available for aquisition.
During the Term, Contractor agrees to be available to the agents and employees of The Company, on an as needed basis, to provide the Consulting Services as The Company may reasonably request, upon reasonable advance notice, in connection with The Company’s electronic, mining, and other business and financing operations. Contractor further agrees during the Term to be available, upon reasonable notice and at reasonable times, at The Company’s operations wherever situated. Contractor agrees to conduct himself, at all times while rendering services hereunder, in a professional manner and shall use his best efforts to make decisions and recommendations hereunder for the purpose of benefiting the financial success of The Company. Nothing contained in this Agreement is intended to, nor shall it be construed to, grant Contractor any exclusive rights to provide the services and duties described herein.
5. Compensation. Prior to the expiration or termination of this Agreement, pursuant to Section 3 hereof, The Company will make the following payments to Contractor as and for full and complete consideration and payment for any and all services rendered under this Agreement, whether rendered prior to, on, or after the Agreement Date (“Commission”):
b. Payment shall be in the form of MODC common stock, the amount of which shall be determined to be initially 150,000 shares.
6. Contractor agrees he shall not solicit any customers, suppliers, sponsors, or advertisers of, or other third-parties doing business with, The Company for the purpose of inducing, directly or indirectly, the termination of such entity’s or individual’s relationship with The Company.
7. The parties agree that in the event a court of competent jurisdiction shall determine that any aspect of the covenants and agreements contained herein shall be unenforceable for any reason, such court may modify the covenant or agreement to render such covenant or agreement enforceable.
8. Notice. Notices and all other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given when delivered in person or by a recognized overnight delivery service or upon receipt of a confirmed facsimile transmission or when mailed by United States registered mail, return receipt requested, postage prepaid, addressed to the last known address
of the respective parties, provided that all notices to The Company shall be directed to the attention of the ChIef Executive Officer, or to such other address as either party may have furnished to the other in writing in accordance herewith, expect that notices of change of address shall be effective only upon receipt. At least initially,
9. Governing Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of Arizona without giving effect to the conflicts of law principles
thereof.
10. Validity. The invalidity or unenforceability of any one or more provisions of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall
remain in full force and effect.
11. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.
12. Waiver of Jury Trial. THE COMPANY AND CONTRACTOR EACH HEREBY
KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY AND ALL RIGHTS THAT THEY MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH THIS
AGREEMENT, ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (ORAL
OR WRITTEN), OR ACTIONS OF THE COMPANY OR CONTRACTOR. THIS PROVISION
IS A MATERIAL INDUCEMENT FOR THE COMPANY AND CONTRACTOR ENTERING INTO THIS AGREEMENT.
13. Entire Agreement. This Agreement constitutes the entire agreement between Contractor and The Company with respect to the subject matter hereof and no agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by any party that are not set forth expressly in this Agreement. No provisions of this Agreement may be modified, waived or discharged unless such modification, waiver or discharge is agreed to in writing signed by Contractor and such officer as may be specifically designated by The Company.
14. Compliance with Law. Both parties hereto agree that if the manner of payment to the Contractor, or payment by The Company to the Contractor or any other provision of this Agreement, becomes violative of any law, including, but not limited to, federal or state taxation laws, rules or regulations, the parties shall negotiate a revision in the terms of the Agreement such that the
purpose for the Agreement and the benefits contemplated to be obtained by each shall be preserved to the greatest extent practicable. The parties further agree that in the event that compliance with the law substantially precludes the purposes for which this Agreement has been made, then this Agreement may be terminated upon written notice given by either party.
15. Indemnification: Contractor agrees to indemnify and hold harmless officers and directors of MODC for any and all past or future causes of action arising from their respective duties and officers and directors of MODC.
16. Miscellaneous. Negation of Agency. Nothing herein contained shall be deemed to create an agency, joint venture or partnership relation between the parties hereto and it is acknowledged that the parties hereto have only a relationship of employer/independent contractor.
Authority to Make Agreement. This Agreement is not valid or binding until and unless executed by the Manager or duly authorized party of both The Company and Contractor.
Assignment. This Agreement and the rights, duties and obligations hereunder may not be assigned by either party. Notwithstanding the foregoing. The Company may assign all of its interests, rights and
obligations hereunder to any of its parent entities, affiliates and/or subsidiaries or any other entity which is the surviving entity following a merger with The Company.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of July 30, 2006, intending to be bound by its terms and conditions.
THE COMPANY:
MODERN TECHNOLOGY CORP.
By: ________________________________
ANTHONY WELCH, Chairman
CONTRACTOR
By:_________________________________________
______________ , Contractor

---

What does this mean?

15. Indemnification: Contractor agrees to indemnify and hold harmless officers and directors of MODC for any and all past or future causes of action arising from their respective duties and officers and directors of MODC.

---

quote:

---

Originally posted by northwoods:

quote:

---

Originally posted by northwoods:

quote:

---

Originally posted by northwoods:
I emailed AW and said that i wanted my money back. He offered me free-trading shares if i signed this:

Independent Contractor Agreement
This agreement shall serve as an Independent Contractor Agreement between Modern Technology Corp. (The Company) and ____ (Contractor).
RECITALS
A. Contractor has special skills, training, experience, knowledge and ability to locate, evaluate, negotiate and complete the acquisition of various businesses within the United States (“Consulting Services”) and The Company desires Contractor to provide such Consulting Services; and
B. Contractor seeks to be retained by The Company which seeks to retain Contractor under the terms and conditions set forth below.
NOW, THEREFORE, in consideration of the mutual promises and agreements
hereinafter set forth and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:
1. Incorporation. The foregoing recitals are incorporated herein as if fully rewritten herein.
2. Independent Contractor. At all times during the Term (as hereinafter defined) of this Agreement, Contractor shall perform the duties and responsibilities identified in this Agreement as an independent contractor and not as an employee of The Company. The Company shall not withhold any federal or
state taxes, social security, unemployment compensation or other payments from the Commission (as hereinafter defined) paid to Contractor. Contractor shall pay all federal and state income taxes, social security contributions and all other taxes and charges levied or assessed with respect to the
Commission received by Contractor pursuant to this Agreement. Contractor agrees to abide by all applicable federal, state and local laws, ordinances, rules and regulations in performing the
duties and responsibilities required of him hereunder. In addition, Contractor agrees and does herewith indemnify, defend and hold The Company harmless from any claims, losses, liabilities or expenses it or its affiliates or subsidiaries may suffer, including reasonable attorney’s fees, arising as a result of Contractor’s failure to pay all withholding obligations and tax liabilities associated with the
Commission(s). At all times under this Agreement the Contractor is acting and performing as an independent contractor and shall not be considered an employee or agent of The Company.
3. Term and Termination. This Agreement shall be deemed to have commenced on the Agreement Date as executed and shall continue thereafter until 5:00 p.m. E.S.T. one year from this date unless terminated prior to such date as hereinafter provided (the Term”). The Term may be mutually extended by a written agreement executed by both parties hereto: a. Prior to expiration of this Agreement as set forth above, either party shall have the right to terminate this Agreement, with or without justifiable cause, upon sixty (60) days’ prior written notice to the other party. Notwithstanding the foregoing, this Agreement shall terminate immediately upon the occurrence of any of the following events: (i) Contractor’s death; or (ii) Contractor being convicted of a felony or act of moral turpitude, or (iii) Contractor’s taking any action, in The Company’s reasonable judgment, that is likely to adversely affect the reputation, operation or business of The Company or its affiliates or subsidiaries. b. The Company and Contractor acknowledge and agree that no provision contained in this Agreement offers, guarantees or otherwise obligates The Company to continue to retain Contractor following the termination of this Agreement. Following the termination of this Agreement for any reason, The Company shall promptly pay Contractor (or Contractor’s estate) the Commission for services rendered to the effective date of the termination as outlined below. Contractor acknowledges and agrees that no other compensation, of any nature or type, shall be payable hereunder following the termination of this Agreement.
4. Duties and Responsibilities of Contractor. Contractor shall endeavor to identify new retail store opportunities for The Company and secure such sites and opportunities for The Company. Contractor, shall, upon authorization from The Company negotiate acceptance of such sites for The Company. Such sites and opportunites may be in the form of new stores or existing stores available for aquisition.
During the Term, Contractor agrees to be available to the agents and employees of The Company, on an as needed basis, to provide the Consulting Services as The Company may reasonably request, upon reasonable advance notice, in connection with The Company’s electronic, mining, and other business and financing operations. Contractor further agrees during the Term to be available, upon reasonable notice and at reasonable times, at The Company’s operations wherever situated. Contractor agrees to conduct himself, at all times while rendering services hereunder, in a professional manner and shall use his best efforts to make decisions and recommendations hereunder for the purpose of benefiting the financial success of The Company. Nothing contained in this Agreement is intended to, nor shall it be construed to, grant Contractor any exclusive rights to provide the services and duties described herein.
5. Compensation. Prior to the expiration or termination of this Agreement, pursuant to Section 3 hereof, The Company will make the following payments to Contractor as and for full and complete consideration and payment for any and all services rendered under this Agreement, whether rendered prior to, on, or after the Agreement Date (“Commission”):
b. Payment shall be in the form of MODC common stock, the amount of which shall be determined to be initially 150,000 shares.
6. Contractor agrees he shall not solicit any customers, suppliers, sponsors, or advertisers of, or other third-parties doing business with, The Company for the purpose of inducing, directly or indirectly, the termination of such entity’s or individual’s relationship with The Company.
7. The parties agree that in the event a court of competent jurisdiction shall determine that any aspect of the covenants and agreements contained herein shall be unenforceable for any reason, such court may modify the covenant or agreement to render such covenant or agreement enforceable.
8. Notice. Notices and all other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given when delivered in person or by a recognized overnight delivery service or upon receipt of a confirmed facsimile transmission or when mailed by United States registered mail, return receipt requested, postage prepaid, addressed to the last known address
of the respective parties, provided that all notices to The Company shall be directed to the attention of the ChIef Executive Officer, or to such other address as either party may have furnished to the other in writing in accordance herewith, expect that notices of change of address shall be effective only upon receipt. At least initially,
9. Governing Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of Arizona without giving effect to the conflicts of law principles
thereof.
10. Validity. The invalidity or unenforceability of any one or more provisions of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall
remain in full force and effect.
11. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.
12. Waiver of Jury Trial. THE COMPANY AND CONTRACTOR EACH HEREBY
KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY AND ALL RIGHTS THAT THEY MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH THIS
AGREEMENT, ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (ORAL
OR WRITTEN), OR ACTIONS OF THE COMPANY OR CONTRACTOR. THIS PROVISION
IS A MATERIAL INDUCEMENT FOR THE COMPANY AND CONTRACTOR ENTERING INTO THIS AGREEMENT.
13. Entire Agreement. This Agreement constitutes the entire agreement between Contractor and The Company with respect to the subject matter hereof and no agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by any party that are not set forth expressly in this Agreement. No provisions of this Agreement may be modified, waived or discharged unless such modification, waiver or discharge is agreed to in writing signed by Contractor and such officer as may be specifically designated by The Company.
14. Compliance with Law. Both parties hereto agree that if the manner of payment to the Contractor, or payment by The Company to the Contractor or any other provision of this Agreement, becomes violative of any law, including, but not limited to, federal or state taxation laws, rules or regulations, the parties shall negotiate a revision in the terms of the Agreement such that the
purpose for the Agreement and the benefits contemplated to be obtained by each shall be preserved to the greatest extent practicable. The parties further agree that in the event that compliance with the law substantially precludes the purposes for which this Agreement has been made, then this Agreement may be terminated upon written notice given by either party.
15. Indemnification: Contractor agrees to indemnify and hold harmless officers and directors of MODC for any and all past or future causes of action arising from their respective duties and officers and directors of MODC.
16. Miscellaneous. Negation of Agency. Nothing herein contained shall be deemed to create an agency, joint venture or partnership relation between the parties hereto and it is acknowledged that the parties hereto have only a relationship of employer/independent contractor.
Authority to Make Agreement. This Agreement is not valid or binding until and unless executed by the Manager or duly authorized party of both The Company and Contractor.
Assignment. This Agreement and the rights, duties and obligations hereunder may not be assigned by either party. Notwithstanding the foregoing. The Company may assign all of its interests, rights and
obligations hereunder to any of its parent entities, affiliates and/or subsidiaries or any other entity which is the surviving entity following a merger with The Company.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of July 30, 2006, intending to be bound by its terms and conditions.
THE COMPANY:
MODERN TECHNOLOGY CORP.
By: ________________________________
ANTHONY WELCH, Chairman
CONTRACTOR
By:_________________________________________
______________ , Contractor

---

What does this mean?

15. Indemnification: Contractor agrees to indemnify and hold harmless officers and directors of MODC for any and all past or future causes of action arising from their respective duties and officers and directors of MODC.

---

---

quote:

---

Originally posted by Ragedbull777:
So the company is gonna sell a bunch of shares again. I hear about 40 million. More dilution. Here comes subpenny for sure. When will AW get it right.

---

quote:

---

Originally posted by northwoods:

quote:

---

Originally posted by Ragedbull777:
So the company is gonna sell a bunch of shares again. I hear about 40 million. More dilution. Here comes subpenny for sure. When will AW get it right.

---

I was sent an email on May 10 stating "We do not presently think we will be issuing any great number of shares
in the next few months."

---

quote:

---

Originally posted by Ragedbull777:
So the company is gonna sell a bunch of shares again. I hear about 40 million. More dilution. Here comes subpenny for sure. When will AW get it right.

---

quote:

---

Originally posted by donnerhal:
breakout ??

---

quote:

---

Originally posted by northwoods:

quote:

---

Originally posted by Ragedbull777:
So the company is gonna sell a bunch of shares again. I hear about 40 million. More dilution. Here comes subpenny for sure. When will AW get it right.

---

I think AW will do another reverse split before the pps hits subpenny levels. I sent him an email about 3 weeks ago, asking if he considered doing another RS. AW's reply was N. Does an "N" mean no???

---

Knowing AW, "N" could mean a lot of things.

N could mean.....

No

No way

Not sure

Nice try

Not today

No guarantees I won't

Next Year for sure

GLTA

AW is priceless.

If you read this AW, thanks for costing many of us a big amount of hard earned money that was many people's life savings. I bet you have trouble sleeping at night. :confused: Maybe not. :D
 

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Posted by FastEddie777 on :
 
Test
 

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Posted by northwoods on :
 
Has anyone heard from AW? Where's the Q? When do we get the "e"? What excuse will he give us this time for the Q being late? .025x.04, time for another rs?
 

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Posted by binsleep on :
 
Nope.

How is everyone? Anyone else been insanely busy?
 

---

Posted by northwoods on :
 

quote:

---

Originally posted by FastEddie777:

quote:

---

Originally posted by northwoods:

quote:

---

Originally posted by Ragedbull777:
So the company is gonna sell a bunch of shares again. I hear about 40 million. More dilution. Here comes subpenny for sure. When will AW get it right.

---

I think AW will do another reverse split before the pps hits subpenny levels. I sent him an email about 3 weeks ago, asking if he considered doing another RS. AW's reply was N. Does an "N" mean no???

---

Knowing AW, "N" could mean a lot of things.

N could mean.....

No

No way

Not sure

Nice try

Not today

No guarantees I won't

Next Year for sure

GLTA

AW is priceless.

If you read this AW, thanks for costing many of us a big amount of hard earned money that was many people's life savings. I bet you have trouble sleeping at night. Maybe not.

---

quote:

---

Originally posted by Ragedbull777:
So the company is gonna sell a bunch of shares again. I hear about 40 million. More dilution. Here comes subpenny for sure. When will AW get it right.

---

Does anybody know if AW will do the spin-off before or after the 40 million shares?
 

---

Posted by northwoods on :
 
Company issued a pr about spinning-off H-NET over 4 months ago. Same wording used "as soon as practicable".
 

---

Posted by richone on :
 
Now what would internationally known researchers and scientists want anything to do with this POS?
 

---

Posted by binsleep on :
 
Modern Technology Corp Announces New Operational Business Unit: Insight Medical Group
Monday September 25, 3:58 pm ET

OXFORD, Miss., Sept. 25, 2006 (PRIMEZONE) -- Modern Technology Corp (OTC BB:MODC.OB - News) announced today its plans to create a new subsidiary, Insight Medical Group. The new operational subsidiary will focus on bioscience acquisitions and applications. The new subsidiary will be spun-off as a new public company at the appropriate time. Insight Medical Group's first significant acquisition will be announced soon.

Anthony Welch, Chairman, said: ``We are extremely exited about these events. The announcement of Insight Medical Group represents the culmination of months of planning and the combined efforts of internationally known researchers and scientists. Insight Medical's first acquisition will be announced soon. As part of the announcement we will outline further the company's business development strategy and the profound technology and its implications.''

Stockholders can further expect updates on the following in the coming weeks:

-- Significant bioscience acquisitions with world-changing potential
with massive revenue expectations
-- Positive changes to operations and financial reporting personnel
-- Improvements to Cash-flow and Balance Sheet
-- Continuing updates on, or announcement of, significant new
acquisitions

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.

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:

Modern Technology Corp
Anthony Welch
601-213-3629
 

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Posted by binsleep on :
 
Modern Technology Corp. Retires Over $1,000,000 in Convertible Debt and Contingent Liabilities as Part of 2006 Profitability and Restructuring Plans
Tuesday September 26, 1:13 pm ET

OXFORD, Miss., Sept. 26, 2006 (PRIMEZONE) -- Modern Technology Corp. (OTC BB:MODC.OB - News), a diversified technology development and acquisition company, announced today that as part of its 2006 plan to achieve operational profitability and to increase stockholder equity, it has exchanged its interest in its subsidiary Sound City for the elimination of $800,000 of Convertible Debentures and associated late charges, interest payments and registration requirements. Also eliminated from MODC's liabilities was $177,000 of recurring payables and the elimination of $177,000 of Callable Convertible Debentures.

ADVERTISEMENT
click here
This transaction eliminates over $1,000,000 in current and contingent liabilities and eliminates any future dilution to Common Stock associated with these convertible debentures. All negative cash-flow - estimated to be $100,000 per month - from this business unit and the need for additional borrowings from investors to sustain its operations have been eliminated.

Anthony Welch, Chairman, said: ``Our 2006 profitability and equity building plan continues with this new step forward in eliminating or restructuring all unprofitable business units. As promised, we are focused on positive earnings and building equity for 2006 and we are making great strides as evidenced by this transaction. We have removed a sizeable amount of liability from our Balance Sheet and thereby eliminated any future dilution to Common Stock resulting from these liabilities. We have also eliminated a significant recurring source of negative cash-flow. The company has new acquisitions under consideration and anticipates announcing one or more new additions to our portfolio soon. Due to an unavoidable delay arising from negotiations with one of our subsidiaries, acquisition opportunities were previously set aside. The company will now work to complete these prospective acquisitions and announce the results in the near future. Shareholders should expect further updates on the new acquisitions, revenues, and our targets for profitability and sales from these new acquisitions.''

Stockholders can soon expect updates on the following:

-- Bioscience acquisitions with profound technology and implications
-- Positive changes to operations and financial reporting personnel
-- Continuing updates on, or announcement of, significant new
acquisitions

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.

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:

Modern Technology Corp.
Megan Peterson
(662) 236-5928
 

---

Posted by binsleep on :
 
And here I thought they were all on permanent vacation
 

---

Posted by northwoods on :
 

quote:

---

Originally posted by northwoods:

quote:

---

Originally posted by FastEddie777:

quote:

---

Originally posted by northwoods:

quote:

---

Originally posted by Ragedbull777:
So the company is gonna sell a bunch of shares again. I hear about 40 million. More dilution. Here comes subpenny for sure. When will AW get it right.

---

I think AW will do another reverse split before the pps hits subpenny levels. I sent him an email about 3 weeks ago, asking if he considered doing another RS. AW's reply was N. Does an "N" mean no???

---

Knowing AW, "N" could mean a lot of things.

N could mean.....

No

No way

Not sure

Nice try

Not today

No guarantees I won't

Next Year for sure

GLTA

AW is priceless.

If you read this AW, thanks for costing many of us a big amount of hard earned money that was many people's life savings. I bet you have trouble sleeping at night. Maybe not.

---

PR out. May be it will raise the pps and all the shareholders that lost alot of money can unload their shares before AW dilutes with the 40 million shares.

---

Emailed AW on 9/20 with two questions. He answered one question, but the question asking if another RS was in the future went unanswered. Not even an "N" this time.
 

---

Posted by Katrina7 on :
 
Press Release Source: Modern Technology Corp

Modern Technology Corp Signs Letter of Intent to Acquire Boveran, Holding the World's Most Accurate Cancer Detection System
Monday October 2, 9:06 am ET

OXFORD, Miss., Oct. 2, 2006 (PRIMEZONE) -- Modern Technology Corp (OTC BB:MODC.OB - News), a diversified technology development and acquisition company, today announced its subsidiary, Insight Medical Group, has signed a Letter of Intent to acquire 100% of the assets and intellectual and technology rights to the Boveran iCyte cancer detection system. Insight Medical Group will be the operational arm bringing this technology to a multi-billion dollar international market.

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The Boveran's unique cancer detection system, iCyte, is based on chromosomal imbalance, the only cell trait common to all forms of cancer and never found in healthy cells. From a biopsy or tissue sample, this technology rapidly and accurately identifies cancer at any stage in its development. At the same time it has the added benefit of identifying cancer-free biopsies. iCyte technology, once applied to a cell sample, can return a reliable test result within minutes.

What makes this system exclusive is its ability to sample any form of biopsy or tissue suspected of cancer. It eliminates previously unreliable, subjective and error-prone conventional diagnoses, delivering within minutes an automated and objective report with the highest accuracy rate of any diagnostic system in the world.

iCyte's detection method is especially important for the reliable and early discovery of breast, cervical, and prostate cancers. The dependable elimination of false-positives, false-negatives and indeterminates from any tissue source is the hallmark of the iCyte system. The high rate of error in the current testing protocols has been the bane of the cancer diagnostic industry throughout its entire history. For the first time, the trustworthy results of iCyte diagnostics eliminate these challenges.

The iCyte system was developed with the direction of Dr. David Rasnick, based on research with Dr. Peter Duesberg. Their research has yielded the only comprehensive, coherent and productive theory of cancer that explains its genesis, evolution and characteristics. From this foundation of solid science, the iCyte cancer detection system was created.

The system has undergone pre-clinical testing and has proven itself to function as expected and deliver accurate and rapid results. The iCyte system's cellular scanning technology can deliver information that can be used to immediately determine the presence or absence of cancer in any biopsy sample without the up to 50% error rate common of current procedures. The iCyte system removes false negatives and the equally important, but often overlooked, problem of false-positives that millions of patients experience annually.

The market space for this diagnostic tool is massive and competition-free. No other system in the world can analyze biopsies from any tissue source for the cell characteristic targeted by iCyte. The company believes the iCyte system will quickly become the de facto gold standard for determining the presence or absence of cancer.

iCyte can be applied to all forms of cancer. No other cancer diagnostic system in the world can be applied to more than a few targeted types of cancer and even then not as reliably because they do not use the technique found in iCyte. iCyte delivers the highest accuracy rate of any technique in existence. iCyte is unique in the world by its approach and measurement of the common denominator that all cancers share.

Anthony Welch, Chairman said: ``This acquisition is the single most important moment for the company and the finest moment in my professional career. The technology and the people involved behind it are all world-class. We are entering a multi-billion dollar market space with a completely unique and proven technology that has no rival or peer. We will release frequent updates on Insight Medical Group's operational progress, revenue expectations, and international expansion for this system. The company will rapidly appear in the international spotlight for a variety of reasons. We will have the world's expectations set high for us and we intend to fulfill that obligation with absolute professionalism, performance, and solid science. All of our recent corporate changes have been made to better align the company to supporting this new effort and the outstanding individuals behind it.''

About Dr. David Rasnick and Dr. Peter Duesberg

Dr. David Rasnick, with 25 years experience, holding 9 patents, worked in the pharmaceutical/biotech industry on cancer, emphysema, arthritis, and parasitic diseases. A critical turning point was in 1996, when Dr. Rasnick joined Professor Peter Duesberg at University of California at Berkeley. This union began a new and exciting understanding of cancer, creating a paradigm shift and resolving the inherent problems faced by the current school of thought. In less than 3 years, Rasnick and Duesberg established Boveran, Inc. With Rasnick's leadership Boveran grew to provide a unique and completely accurate method of detecting all forms of cancer and pre-cancerous conditions.

Peter H. Duesberg, Ph.D. is a professor of Molecular and Cell Biology at the University of California, Berkeley. He isolated the first cancer gene through his work on retroviruses in 1970, and mapped the genetic structure of these viruses. This, and his subsequent work in the same field, resulted in his election to the National Academy of Sciences in 1986. He was also the recipient of a seven-year Outstanding Investigator Grant from the National Institute of Health.

In 1987 he argued HIV is not the cause of AIDS and has published a number of scientific papers on this topic including the now famous book ``Inventing the AIDS Virus.''

Duesberg and his work in cancer research were recently mentioned in an article found in Newsweek. Found here: http://www.msnbc.msn.com/id/14757547/site/newsweek/

In 2003, Scientific American explained Rasnick and Duesberg's new understanding of cancer in a major article, placing their discoveries in the context of 100 years of cancer research. A recent internet search revealed nearly a thousand citations of Rasnick and Duesberg's work.

About Insight Medical Group

Insight Medical Group is a specialized biosciences development company whose mission is to bring world changing medical technology and research to market in the areas of cancer and AIDS.
 

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Posted by binsleep on :
 
Kat!!

I've taken a beating along with everyone else on this stock, so it pains me to be optimistic. However, this could actually be quite HUGE!
 

---

Posted by bobcat88 on :
 
We have grown some legs, glad I averaged down last week, Only down $3800 on this now. I still have faith tho
 

---

Posted by bobcat88 on :
 
I dont think even Anthony can mess this up!

Modern Technology Corp Announces Acquisition Terms for Boveran Cancer Detection System Designed by Dr. David Rasnick and Dr. Peter Duesberg
OXFORD, Miss., Oct. 3, 2006 (PRIMEZONE) -- Modern Technology Corp (OTCBB:MODC), a diversified technology development and acquisition company, released today the material terms of its cash-free acquisition of 100% of the physical assets and intellectual and technology rights to the Boveran cancer detection system. Insight Medical Group will be the operational arm that will bring the technology to a multi-billion dollar international market for cancer diagnostics.

The Boveran cancer detection system is the only system in the world that detects the single trait common to all forms of cancer. This trait is not found in any healthy cell. The system rapidly and accurately identifies cancer at any stage in its development and also identifies healthy cancer-free cells in the same test. The system is unique in the world and can be applied to any form of cell sample suspected of cancer and return a reliable test result within minutes. The system completely eliminates heretofore unreliable, subjective, and error-prone pathology diagnosis of cancer and delivers an automated and completely objective measurement of the presence or absence of cancer with the highest accuracy rate of any diagnostic technology in the world.

The current contemplated material terms of the Letter of Intent are as follows:


-- 100% of the existing physical assets, intellectual property rights,
and current value of Boveran's assets

-- Purchase Price: $500,000 paid in Convertible Preferred Stock to
Boveran.

-- Anticipated Closing Date: October 15, 2006. Pending all legal
review, due diligence review, and approval. If such approval occurs
after such date, then closing shall take place as soon as possible.

-- Purchase Terms: $500,000 Paid to Boveran's stockholders in the form
of a Convertible Preferred Stock with conversion terms and
schedules to be agreed upon by the Parties within a reasonable
time and with reasonable terms concurrently to or subsequent to
the execution of the contemplated Definitive Asset Purchase
Agreement.

-- Formal relationship with Duesberg Cancer Lab: The acquisition of
Boveran contemplates the support of Peter Duesberg's cancer
research. Insight Medical Group will provide ongoing financial
support to Peter Duesberg's lab as reasonably determined by Insight
Medical Group and Duesberg. Peter Duesberg's lab agrees to work
closely with Insight Medical Group to improve products and
technology.

Anthony Welch, Chairman, said: "We will soon release details of market strategy and potential, expected revenues, and profits for this new addition to our portfolio. The market space is international and no other cancer diagnostic can return the same high level of accuracy. The design of this system is unique, proprietary, and proven to work. We have the outstanding science and research of its creators to thank."

About Insight Medical Group

Insight Medical Group is a specialized biosciences development company whose mission is to bring world-changing medical technology and research to market in the areas of cancer and AIDS.

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.

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: Modern Technology Corp
Anthony Welch
(601) 213-3629


Source: PrimeZone (October 3, 2006 - 1:01 PM EST)
 

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Posted by binsleep on :
 
I really need to find some time and go through these PR's. I've only been skimming, and this really does seem too good to be true. Glad to see the stock moving in a positive direction at least

Al, Warped...you guys still around?
 

---

Posted by Katrina7 on :
 
Hey guys,

Hoping this is the turnaround....still down big time on this one...hurting pretty bad.

Maybe we should start a new thread with this new news...Eddie you have the most stars...watcha think?

Al is out, warped is around.....would take a miracle for me to even get close to even now.
Hope everyone is well.
 

---

Posted by northwoods on :
 

quote:

---

Originally posted by Katrina7:
Hey guys,

Hoping this is the turnaround....still down big time on this one...hurting pretty bad.

Maybe we should start a new thread with this new news...Eddie you have the most stars...watcha think?

Al is out, warped is around.....would take a miracle for me to even get close to even now.
Hope everyone is well.

---

quote:

---

Originally posted by Katrina7:
Press Release Source: Modern Technology Corp

Modern Technology Corp Signs Letter of Intent to Acquire Boveran, Holding the World's Most Accurate Cancer Detection System
Monday October 2, 9:06 am ET

OXFORD, Miss., Oct. 2, 2006 (PRIMEZONE) -- Modern Technology Corp (OTC BB:MODC.OB - News), a diversified technology development and acquisition company, today announced its subsidiary, Insight Medical Group, has signed a Letter of Intent to acquire 100% of the assets and intellectual and technology rights to the Boveran iCyte cancer detection system. Insight Medical Group will be the operational arm bringing this technology to a multi-billion dollar international market.

ADVERTISEMENT
click here
The Boveran's unique cancer detection system, iCyte, is based on chromosomal imbalance, the only cell trait common to all forms of cancer and never found in healthy cells. From a biopsy or tissue sample, this technology rapidly and accurately identifies cancer at any stage in its development. At the same time it has the added benefit of identifying cancer-free biopsies. iCyte technology, once applied to a cell sample, can return a reliable test result within minutes.

What makes this system exclusive is its ability to sample any form of biopsy or tissue suspected of cancer. It eliminates previously unreliable, subjective and error-prone conventional diagnoses, delivering within minutes an automated and objective report with the highest accuracy rate of any diagnostic system in the world.

iCyte's detection method is especially important for the reliable and early discovery of breast, cervical, and prostate cancers. The dependable elimination of false-positives, false-negatives and indeterminates from any tissue source is the hallmark of the iCyte system. The high rate of error in the current testing protocols has been the bane of the cancer diagnostic industry throughout its entire history. For the first time, the trustworthy results of iCyte diagnostics eliminate these challenges.

The iCyte system was developed with the direction of Dr. David Rasnick, based on research with Dr. Peter Duesberg. Their research has yielded the only comprehensive, coherent and productive theory of cancer that explains its genesis, evolution and characteristics. From this foundation of solid science, the iCyte cancer detection system was created.

The system has undergone pre-clinical testing and has proven itself to function as expected and deliver accurate and rapid results. The iCyte system's cellular scanning technology can deliver information that can be used to immediately determine the presence or absence of cancer in any biopsy sample without the up to 50% error rate common of current procedures. The iCyte system removes false negatives and the equally important, but often overlooked, problem of false-positives that millions of patients experience annually.

The market space for this diagnostic tool is massive and competition-free. No other system in the world can analyze biopsies from any tissue source for the cell characteristic targeted by iCyte. The company believes the iCyte system will quickly become the de facto gold standard for determining the presence or absence of cancer.

iCyte can be applied to all forms of cancer. No other cancer diagnostic system in the world can be applied to more than a few targeted types of cancer and even then not as reliably because they do not use the technique found in iCyte. iCyte delivers the highest accuracy rate of any technique in existence. iCyte is unique in the world by its approach and measurement of the common denominator that all cancers share.

Anthony Welch, Chairman said: ``This acquisition is the single most important moment for the company and the finest moment in my professional career. The technology and the people involved behind it are all world-class. We are entering a multi-billion dollar market space with a completely unique and proven technology that has no rival or peer. We will release frequent updates on Insight Medical Group's operational progress, revenue expectations, and international expansion for this system. The company will rapidly appear in the international spotlight for a variety of reasons. We will have the world's expectations set high for us and we intend to fulfill that obligation with absolute professionalism, performance, and solid science. All of our recent corporate changes have been made to better align the company to supporting this new effort and the outstanding individuals behind it.''

About Dr. David Rasnick and Dr. Peter Duesberg

Dr. David Rasnick, with 25 years experience, holding 9 patents, worked in the pharmaceutical/biotech industry on cancer, emphysema, arthritis, and parasitic diseases. A critical turning point was in 1996, when Dr. Rasnick joined Professor Peter Duesberg at University of California at Berkeley. This union began a new and exciting understanding of cancer, creating a paradigm shift and resolving the inherent problems faced by the current school of thought. In less than 3 years, Rasnick and Duesberg established Boveran, Inc. With Rasnick's leadership Boveran grew to provide a unique and completely accurate method of detecting all forms of cancer and pre-cancerous conditions.

Peter H. Duesberg, Ph.D. is a professor of Molecular and Cell Biology at the University of California, Berkeley. He isolated the first cancer gene through his work on retroviruses in 1970, and mapped the genetic structure of these viruses. This, and his subsequent work in the same field, resulted in his election to the National Academy of Sciences in 1986. He was also the recipient of a seven-year Outstanding Investigator Grant from the National Institute of Health.

In 1987 he argued HIV is not the cause of AIDS and has published a number of scientific papers on this topic including the now famous book ``Inventing the AIDS Virus.''

Duesberg and his work in cancer research were recently mentioned in an article found in Newsweek. Found here: http://www.msnbc.msn.com/id/14757547/site/newsweek/

In 2003, Scientific American explained Rasnick and Duesberg's new understanding of cancer in a major article, placing their discoveries in the context of 100 years of cancer research. A recent internet search revealed nearly a thousand citations of Rasnick and Duesberg's work.

About Insight Medical Group

Insight Medical Group is a specialized biosciences development company whose mission is to bring world changing medical technology and research to market in the areas of cancer and AIDS.

---

quote:

---

Originally posted by Katrina7:
Northwoods, I don't know what your deal is. You came on this board after the R/S, claiming to be a long holding the bag with a ton of shares, yet everything you say now is negative. Why? How does that help you? I can't think of any reason for you to post such things if you were really a bagholder. You want to lose more money?

This latest accusation, about a vague trouble with the TM makes you sound like a paid basher. Unless you have credible information, please don't post stuff to scare people. Are you just trying to collect shares down here for your bosses? I also noticed everything you have posted under the name voiped on RB is negative as well.

Just an FYI for any newbies...there are a handful of us who have been here a long long time. He is not one of them.

---

quote:

---

Originally posted by WarpedMind:
Those numbers are not the correct ones. They have been changed. It's easy to find the new numbers if you look around. (I'm gonna let ya look for it first. :-) )

My sources say a PR is imminent. I'm still holding.

---

quote:

---

Originally posted by northwoods:
Here is a list of questions that i sent to AW yesterday. I have not received a response so far. Will keep you all updated daily.

To Anthony Welch 10/9/06

As a shareholder in Modern Technology Corp, I would appreciate it if you would answer some questions. I would think that you, being the CEO of Modern Technology Corp would know the answers and be more than willing to provide them.

Question #1, On April 3rd, you initiated a tender offer to acquire Harvey Electronics. On April 17th, Harvey Electronics released an announcement asserting the Tender Offer to be invalid due to certain 'deficiencies.' What were these 'deficiencies’?

Question #2, On Friday May 12th, you announced a reverse split that would take effect on Monday May 15th. Previous to May 15th, you told shareholders “no reverse split”. Knowing that shareholders were concerned about a rs , why was it done with very little notice?

Question #3 ,Also on May 12th, soon after announcing the reverse split, you released another PR relating to a planned spin-off of H-NET. Two days before this, May 10th, you sent me an email stating “H-NET is being worked on still and we are focusing our efforts to branch out into the healthcare field with the platform.” That was almost 5 months ago, Are you spinning-off H-NET or branching out into the healthcare field with the platform?

Question #4, On May 10th, I received an email stating: ‘We do not presently think we will be issuing any great number of shares in the next few months’. How many shares are outstanding as of today?

Question #5, On June 12, Mr. Robert Church resigned as Chief Financial Officer and Director of Modern Technology Corp. Why did Mr. Church resign?

Question #6, On August 18th, you filed a SB-2. Several things in the filing have me concerned regarding dilution.
Have any of the shares been sold yet, and if so, how many?

There Are a Large Number of Shares Underlying Our Secured Convertible Notes and Warrants That May be Available for Future Sale and the Sale of These Shares May Depress the Market Price of Our Common Stock.
As of July 1. 2006, we had 2,515,782 shares of common stock issued and outstanding, secured convertible notes outstanding that may be converted into an estimated 20,000,000 shares of common stock at current market prices, outstanding warrants to purchase 20,000,000 shares of common stock. In addition, the number of shares of common stock issuable upon conversion of the outstanding secured convertible notes may increase if the market price of our stock declines. All of the shares, including all of the shares issuable upon conversion of the notes and upon exercise of our warrants, may be sold without restriction. The sale of these shares may adversely affect the market price of our common stock.
The Issuance of Shares Upon Conversion of the Secured Convertible Notes and Exercise of Outstanding Warrants May Cause Immediate and Substantial Dilution to Our Existing Stockholders.
The issuance of shares upon conversion of the secured convertible notes and exercise of warrants may result in substantial dilution to the interests of other stockholders since the selling stockholders may ultimately convert and sell the full amount issuable on conversion. Although the selling stockholders may not convert their secured convertible notes and/or exercise their warrants if such conversion or exercise would cause them to own more than 4.9% of our outstanding common stock, this restriction does not prevent the selling stockholders from converting and/or exercising some of their holdings and then converting the rest of their holdings. In this way, the selling stockholders could sell more than this limit while never holding more than this limit. There is no upper limit on the number of shares that may be issued which will have the effect of further diluting the proportionate equity interest and voting power of holders of our common stock, including investors in this offering.
In The Event That Our Stock Price Declines, The Shares Of Common Stock Allocated For Conversion Of The Secured Convertible Notes and Registered Pursuant To This Prospectus May Not Be Adequate And We May Be Required to File A Subsequent Registration Statement Covering Additional Shares. If The Shares We Have Allocated And Are Registering Herewith Are Not Adequate And We Are Required To File An Additional Registration Statement, We May Incur Substantial Costs In Connection Therewith.
Based on our current market price and the potential decrease in our market price as a result of the issuance of shares upon conversion of the secured convertible notes, we have made a good faith estimate as to the amount of shares of common stock that we are required to register and allocate for conversion of the secured convertible notes. Accordingly, we have allocated and registered 40,000,000 shares to cover the conversion of the secured convertible notes. In the event that our stock price decreases, the shares of common stock we have allocated for conversion of the secured convertible notes and are registering hereunder may not be adequate. If the shares we have allocated to the registration statement are not adequate and we are required to file an additional registration statement, we may incur substantial costs in connection with the preparation and filing of such registration statement.
If We Are Required for any Reason to Repay Our Outstanding Secured Convertible Notes, We Would Be Required to Deplete Our Working Capital, If Available, Or Raise Additional Funds. Our Failure to Repay the Secured Convertible Notes, If Required, Could Result in Legal Action Against Us, Which Could Require the Sale of Substantial Assets.
In August, 2005, we entered into a Securities Purchase Agreement for the sale of an aggregate of $1,500,000 principal amount of secured convertible notes. In March, 2006 we entered into a Securities Purchase Agreement for the sale of an aggregate of $350,00 principal amount of secured convertible notes. The secured convertible notes are due and payable, with 9% and 6% interest, respectively, three years from the date of issuance, unless sooner converted into shares of our common stock. In addition, any event of default such as our failure to repay the principal or interest when due, our failure to issue shares of common stock upon conversion by the holder, our failure to timely file a registration statement or have such registration statement declared effective, breach of any covenant, representation or warranty in the Securities Purchase Agreement or related convertible note, the assignment or appointment of a receiver to control a substantial part of our property or business, the filing of a money judgment, writ or similar process against our company in excess of $50,000, the commencement of a bankruptcy, insolvency, reorganization or liquidation proceeding against our company and the delisting of our common stock could require the early repayment of the secured convertible notes, including a default interest rate of 15% on the outstanding principal balance of the notes if the default is not cured within the specified grace period. We anticipate that the full amount of the secured convertible notes will be converted into shares of our common stock, in accordance with the terms of the secured convertible notes. If we were required to repay the secured convertible notes, we would be required to use our limited working capital and raise additional funds. If we were unable to repay the secured convertible notes when required, the notes and stock holders could commence legal action against us and foreclose on all of our assets to recover the amounts due. Any such action would require us to curtail or cease operations.
Question #7, Also in the SB-2 , Is this common for companies to have in their Articles of Incorporation?
Our Articles of Incorporation, as amended, provide to the fullest extent permitted by Nevada law, that our directors or officers shall not be personally liable to us or our shareholders for damages for breach of such director's or officer's fiduciary duty. The effect of this provision of our Articles of Incorporation, as amended, is to eliminate our rights and our shareholders (through shareholders' derivative suits on behalf of our company) to recover damages against a director or officer for breach of the fiduciary duty of care as a director or officer (including breaches resulting from negligent or grossly negligent behavior), except under certain situations defined by statute. We believe that the indemnification provisions in our Articles of Incorporation, as amended, are necessary to attract and retain qualified persons as directors and officers.
Question #8, On September 20th,you announced ‘MODC will spin off its subsidiary Inmarketing Group as a separate public company as soon as practicable’. What does “as soon as practicable” mean? The shareholders have been waiting since May for the ‘planned spin-off of H-NET’.

Question #9, On October 2nd, you announced, Insight Medical Group, has signed a Letter of Intent to acquire 100% of the assets and intellectual and technology rights to the Boveran iCyte cancer detection system. The pr states: ‘The system has undergone pre-clinical testing and has proven itself to function as expected and deliver accurate and rapid results’. What do you mean by “pre-clinical testing”?
Question #10, Does the Cancer Detection System need FDA APPROVAL and if so, how long is the process?
Question # 11, Modern Technology has a ‘planned spin-off of H-NET’, a ‘planned spin-off of Inmarketing Group’ and has exchanged its interest in its subsidiary Sound City ‘. Is it fair to say that at this point the only thing going for MODC is Insight Medical Group and the only thing that it has done is sign a Letter of Intent?
Question # 12,On September 25th, you announced plans to create a new subsidiary, Insight Medical Group. In the same paragraph the pr states: The new subsidiary will be spun-off as a new public company at the appropriate time. Why would you spin it off if it was going to have ‘Significant bioscience acquisitions with world-changing potential with massive revenue expectations’?

---

Still waiting for some answers.
 

---

Posted by WarpedMind on :
 
Anyone have L2s on this?
 

---

Posted by djg7 on :
 
Bid 1 x .12 1 x .106 2 x .10

Ask 2 x .14 1 x .15 1 x .18
 

---

Posted by WarpedMind on :
 
thanks
 

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Posted by WarpedMind on :
 
where are all my buds???
 

---

Posted by Madge on :
 
Waiting....
 

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Posted by WarpedMind on :
 
Ugh. Stupid MMs.
 

---

Posted by WarpedMind on :
 
FYI, my source says that MODC is really focused on promoting the cancer system... expect a PR announcing another interview done yesterday. And, yes, they are also approaching the major news channels and plan on some air time with each.

Let's hope this all pans out.
 

---

Posted by bobcat88 on :
 
Something just doesnt seem right about the purchase price of a multi-billion dollar cancer detection system, $500k for all the assets and the intellectual property rights? I would figure that there would be well over the 500k in assets alone for a cancer reasearch lab. Any insight on this?

The current contemplated material terms of the Letter of Intent are as follows:


-- 100% of the existing physical assets, intellectual property rights,
and current value of Boveran's assets

-- Purchase Price: $500,000 paid in Convertible Preferred Stock to
Boveran.

-- Anticipated Closing Date: October 15, 2006. Pending all legal
review, due diligence review, and approval. If such approval occurs
after such date, then closing shall take place as soon as possible.

-- Purchase Terms: $500,000 Paid to Boveran's stockholders in the form
of a Convertible Preferred Stock with conversion terms and
schedules to be agreed upon by the Parties within a reasonable
time and with reasonable terms concurrently to or subsequent to
the execution of the contemplated Definitive Asset Purchase
Agreement.

-- Formal relationship with Duesberg Cancer Lab: The acquisition of
Boveran contemplates the support of Peter Duesberg's cancer
research. Insight Medical Group will provide ongoing financial
support to Peter Duesberg's lab as reasonably determined by Insight
Medical Group and Duesberg. Peter Duesberg's lab agrees to work
closely with Insight Medical Group to improve products and
technology.
 

---

Posted by WarpedMind on :
 
Good points... Could you shoot AW an email and see how he responds and report back?
 

---

Posted by bobcat88 on :
 
I'll email him again but from my experience (unlike others on here) I never get a response. I have emailed on 4 occasions over the last year and never gotten a reply.
 

---

Posted by WarpedMind on :
 
Just a thought...

from my experience (he always returns my emails), you should keep your email brief and to the point. If I have a bunch of questions, I'll ask him a couple brief ones and save the others for separate emails. He probably doesn't have the time to read every long email and reply in depth. Just my observations. My emails are usually only a couple sentences long, at most. If there are any longer, the replies are not always as complete as I'd like them.
 

---

Posted by binsleep on :
 
bobcat, I've emailed him plenty of times without a response. I haven't emailed recently, but he has responded to me a couple of times. Good luck
 

---

Posted by WarpedMind on :
 
hey bin... where you, uh, bin (been)?
 

---

Posted by binsleep on :
 
Yes, I agree Warped, brief is best.

Remember, he is a pretty busy guy and doesn't have time to read through lengthy emails, much less respond to all of them.

Hope this helps.
 

---

Posted by binsleep on :
 

quote:

---

Originally posted by WarpedMind:
hey bin... where you, uh, bin (been)?

---

I've been pretty busy. Unfortunately, I haven't been able to really keep up on my investments as much as I'd like to. I just try to take a peek at what's going on every once in awhile. Glad to see we are finally making some progress here! It would be nice to get even remotely close to the pre-split price at some point!
 

---

Posted by binsleep on :
 
Anyone know if tech is still around? I need an A/C Compressor for my truck
 

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Posted by northwoods on :
 
With all the talk about emails today i thought some of you might want to check out this neat site. 'didtheyreadit.com'
 

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Posted by bobcat88 on :
 
Just sitting here "working away" and in comes an email from Modern Technology Corp, not a reply though. Just a IR email about last weeks news. I cant believe they dont have a dist. list for emails, the email I have has all of the email addresses that the PR was sent to, can just see some spam mail coming from someone doing a reply all.
 

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Posted by binsleep on :
 
I got the same email. I've been on this list for over a year now and this is the first email I've ever received. Hmmm...could this be a sign?
 

---

Posted by binsleep on :
 
Just a thought, but did you happen to notice who sent that email?

Colin Inker, the Managing Director for Europe, Middle East, and Africa.

Now, the question is, why would Mr. Inker be sending out that email and not Meghan or a generic IR email address? My guess is he's either very bored, or very excited about the international scope of the most recent news.
 

---

Posted by binsleep on :
 
If you didn't listen to the interview on Wallst.net with Dr. Rasnick, I highly suggest you do. Aside from the fact that it sounded like they were building an arc in the background, some of the questions that have been asked here were answered.

Some highlights:

The Boveran Cancer Detection system does NOT require FDA approval, however, they may go that route in the future.

Dr. Rasnick has been working on this theory for the past 10 years and feels VERY confident that they are close to understanding cancer (contradictory to what we are told in the media). He referred to this discovery as "monumental" and feels that this area of research has just begun to get attention.

There is NO money flowing into this area of research presently because this area has been overlooked by the organizations who are responsible for determining which direction cancer research should be heading.

There was a bunch more, but I'll leave that as an exercise for the reader. Much as Warped has already pointed out, I would think that Modern is going to be spending a great deal of time and energy on getting this out there.

Whether or not it has a positive effect on the share price remains to be seen.
 

---

Posted by WarpedMind on :
 
I too highly recommend the interview. Also, Google Dr. Rasnick... you'll see that he is VERY well-known and respected in the health field. The only negative thing I could find about him is something about him associating himself with Berkley, who apparently has disassociated themselves from him... but that's all probably political stuff... step on someone's toes or have a falling out or be a renegade and things like this happen. I'd be curious to know what happened, but it's not that important. Everything else I can find on him tells me his is definitely the real deal. He obviously is a solid expert in this field and I am personally very excited.
 

---

Posted by bobcat88 on :
 
I know that things are looking very positive but man am I having a hard time deciding whether or not do dump more money on this to average down. I mean, c'mon, I'm down like 95%. What are you guys doing? Kissing the money out already goodbye and starting over like they are a new stock?
 

---

Posted by WarpedMind on :
 
Hard call. I guess the big question is do you think it'll come back down from here (or whenever you sell). If so, you can always sell, wait/hope/pray that it drops some, and then buy back in and just keep doing that. If you think it'll spike, ride it.

Personally, I will probably pull some (or all... dunno for sure) when I think this is leveling off and before the next Q. If everything still looks good, I might jump in after the Q (if there as an E and the price drops). I still believe in the company, especially now... I'm actually excited about it again. But I'm in need of some of the money that I'd normally trade, so I'm not sure what I'm gonna do.
 

---

Posted by northwoods on :
 
Dr. Rasnick did state in the interview that the pre-clinical testing was done in 2000, that was 6 years ago. I would think that if the 'World's Most Accurate Cancer Detection System' was marketable and capable of producing the 'Projected Revenues', it would be in use already.
 

---

Posted by WarpedMind on :
 
North,

Do you own any shares of MODG?
 

---

Posted by bobcat88 on :
 

quote:

---

Originally posted by northwoods:
Dr. Rasnick did state in the interview that the pre-clinical testing was done in 2000, that was 6 years ago. I would think that if the 'World's Most Accurate Cancer Detection System' was marketable and capable of producing the 'Projected Revenues', it would be in use already.

---

Guess we are all screwed then, oh well. Can you at least tell us what side of the fence you are on with this? Bashing or pumping, stockholder or wanna be stockholder?
 

---

Posted by northwoods on :
 
I am holding shares, but not as much as i did in the past. I have not bought any in months. I think AW needs to address past issues and try to restore investor confidence before moving forward.
 

---

Posted by binsleep on :
 
Warped, your private box is full again.
 

---

Posted by WarpedMind on :
 
Sorry. Try now.
 

---

Posted by binsleep on :
 
Warped: INCOMING!
 

---

Posted by WarpedMind on :
 
PR... AW is workin' it. Keep it comin' AW!


Dr. David Rasnick, Ph.D. and Modern Technology Chairman, Anthony Welch, Interviewed by Knobias on the Boveran Cancer Detection System

OXFORD, Miss., Oct. 16, 2006 (PRIMEZONE) -- Modern Technology Corp. (OTCBB:MODC), a diversified technology development and acquisition company, announced today its Chairman and Dr. Rasnick were interviewed by the editor and lead writers of the financial information services organization Knobias.

To obtain a full copy of the Knobias interview, go to: http://www.knobias.com/front/product/clipreport/screenshots/index.htm

New subscribers to Knobias will have to sign up for the Clip Report to receive a free copy.

The Boveran Cancer Detection System is the only system in the world that detects the single trait common to all forms of cancer. This trait is not found in any healthy cell. The system rapidly and accurately identifies cancer at any stage in its development and also identifies healthy cancer-free cells in the same test. The system is unique in the world and can be applied to any form of cell sample suspected of cancer and return a reliable test result within minutes. The system completely eliminates heretofore unreliable, subjective, and error-prone pathology diagnosis of cancer and delivers an automated and completely objective measurement of the presence or absence of cancer with the highest accuracy rate of any diagnostic technology in the world. The Boveran system is the first and only system in the world that can accurately detect and assess the chromosomal imbalance of cancer. This ability allows the system to quickly and accurately identify both cancerous and non-cancerous cells.

About Insight Medical Group

Insight Medical Group is a specialized biosciences development company whose mission is to bring world-changing medical technology and research to market in the areas of cancer and AIDS. The Boveran Cancer Detection System was invented by Dr. David Rasnick, Ph.D. The chromosomal imbalance theory is the result of 45 years of combined cancer research by Dr. David Rasnick, Ph.D and Dr. Peter Duesberg, Ph.D., who continues his studies on cancer research at the University of California, Berkley.

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.

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: Modern Technology Corp.
Investor Relations
(601) 213 3629


Source: PrimeZone (October 16, 2006 - 10:28 AM EST)

News by QuoteMedia
www.quotemedia.com
 

---

Posted by WarpedMind on :
 
This is interesting... the interview says that MODC is considering moving their offices to the Bahamas to expedite entry into international markets. Would it matter or make much difference? I'm curious... anyone know?
 

---

Posted by WarpedMind on :
 
We're up 25% today so far since the interview! Let's hope it runs a little.
 

---

Posted by WarpedMind on :
 
Up 31.25%. Yeah baby. Keep it comin'.

Am I the only MODC loyal out here today?
 

---

Posted by northwoods on :
 
No comments from anyone? "I think AW needs to address past issues and try to restore investor confidence before moving forward".
 

---

Posted by bobcat88 on :
 
This is from the e-mailed pdf file just emailed to MODC friends and shareholders from Mr. Colin Inker again. This time there is a distribution list not everyones emial addresses. Colin must read Allstocks.com!


Modern Technology Comments
re New Boveran Cancer Detection System
Modern Technology Corp (MODC) announced the acquisition of 100%
of the physical assets and intellectual and technology rights to the
Boveran cancer detection system for $500,000 of Convertible Preferred
Stock. The Company claims that its Boveran Cancer Detection System
is the only system in the world that detects the single trait common to all
forms of cancer, which is a chromosome inbalance involving an abnormal
number of chromosomes. This trait is not found in any healthy cell.
The system rapidly and accurately identifies cancer at any stage in its
development and also identifies healthy cancer-free cells in the same
test. The system can be applied to any form of cell sample suspected of
cancer and return a reliable test result within minutes. Insight Medical
Group will be the operational arm that will bring the technology to the
international market for cancer diagnostics. Insight will control 100%
stake in Modern Technology. Knobias conducted a conference with the
Company this week that included: Anthony Welch: Chairman and CEO;
Dr. David Rasnick: Inventor of the Boveran Cancer Detection System;
and Colin Inker: Chief of Opertions. According to Dr. Rasnick, the inventor
of the Boveran Cancer Detection System, “the chromosomal imbalance
theory is the result of 45 years of combined cancer research
by Dr. Rasnick, PhD and Dr. Peter Duesberg, PhD, who continues his
studies on cancer research at the University of California, Berkley.” Dr.
Rasnick stated, “their work has provided conclusive evidence that an
imbalance in the number and composition of chromosomes (called aneuploidy)
is the underlying cause of cancer and is sufficient to explain
all of the features characteristic of cancer.” Mr. Welch told Knobias that,
“The worldwide market potential is unquantifiable. The Company plans
to initially target the international marketplace, where expedited regulatory
procedures provide a more favorable timeline for entry into the
market. Funding guidelines of the National Institutes of Health and other
federal agencies have typically been reluctant to provide funding for
cancer research that varies from the accepted research “norm,” which
theorizes that gene mutations cause cancer and produces all the features
associated with it. The focus on gene mutations has produced
inconsistent conclusions for several decades.” Mr. Welch also indicated
that, “the Company may move its offices to the Bahamas to expedite the
entry into the international market.” Mr. Welch was also quick to point
out that, “the Company could spin-off the Boveran System at an appropriate
time, but the Company is committed to the launch and success
of the technology.” The Company projects cervical cancer diagnostics
revenues of $16 million the first year for the market and $50 million by
the end of the third year. The Company also projects prostate cancer
diagnostics revenues of $12 million the first year for the market and over
$50 million by the end of the third year. Modern Technology’s audited
revenues for the 9 months ended March 31, 2006 were $7,871,185, an
increase of 509% over last year. Audited assets ending March 31, 2006
were $6,575,669.
 

---

Posted by northwoods on :
 
Does anyone know when the company 'plans' or 'projects' getting the Q out?
 

---

Posted by bobcat88 on :
 
I'm sure that they "plan" and "project" it will be late as usual!
 

---

Posted by WarpedMind on :
 
It will definitely be late. They already filed a notice some time ago.
 

---

Posted by WarpedMind on :
 
PR! I don't know about you guys, but I'm pretty excited that we see AW really actively promoting MODC now. This is a VERY good sign. Committment level to this project is obviously high. Perhaps we'll start getting the movement MODC has deserved from the beginning.

Here's the PR...


Modern Technology Corp Announces Cancer Detection Clinical Laboratory to be Opened in Freeport, Grand Bahama Island

OXFORD, Miss., Oct. 17, 2006 (PRIMEZONE) -- Modern Technology Corp (OTCBB:MODC), a diversified technology development and acquisition company, announced today the company has selected Freeport, Grand Bahama as the preferred location to establish the company's cancer detection diagnostic labs.

Resources have been activated to ship the Boveran Cancer Detection system and related diagnostic and lab equipment to Freeport.

Anthony Welch, Chairman, said: "Freeport offers superb business infrastructure and proximity to the USA. Freeport is unburdened by the high taxes and heavy regulatory environment of the USA thereby allowing us to bring this cancer technology to market immediately and operate under a far less costly tax and expense structure. We feel this strategy will result in rapid sales and higher long-term profits."

Shareholders should expect the announcement of a highly respected medical professional prominent within the pathology and diagnostics community to join the company in a senior marketing capacity.

The Boveran Cancer Detection System is the only system in the world that detects the single trait common to all forms of cancer. This trait is not found in any healthy cell. The system rapidly and accurately identifies cancer at any stage in its development and also identifies healthy cancer-free cells in the same test. The system is unique in the world and can be applied to any form of cell sample suspected of cancer and return a reliable test result within minutes. The system completely eliminates heretofore unreliable, subjective, and error-prone pathology diagnosis of cancer and delivers an automated and completely objective measurement of the presence or absence of cancer with the highest accuracy rate of any diagnostic technology in the world. The Boveran system is the first and only system in the world that can accurately detect and assess the chromosomal imbalance of cancer. This ability allows the system to quickly and accurately identify both cancerous and non-cancerous cells.

As promised to our stockholders, we will continue to release news of our progress in a timely fashion leading up to the opening of the diagnostic lab and subsequent revenue results.

About Insight Medical Group

Insight Medical Group is a specialized biosciences development company whose mission is to bring world changing medical technology and research to market in the areas of cancer and AIDS. The Boveran Cancer Detection System was invented by Dr. David Rasnick, Ph.D. The technology and chromosomal imbalance theory is the result of 45 years of combined cancer research by Dr. David Rasnick, Ph.D. and Dr. Peter Duesberg, Ph.D., who continues his studies on cancer research at the University of California, Berkley.

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.

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: Modern Technology Corp
Investor Relations
(601) 213 3629


Source: PrimeZone (October 17, 2006 - 9:59 AM EST)

News by QuoteMedia
www.quotemedia.com
 

---

Posted by binsleep on :
 
Me likey likey
 

---

Posted by bobcat88 on :
 
How can he announce that they have found a location prior to filling us in on some closing details. Regardless, I've picked up another 15k, average down to .3485 and own 3x as many shares. Hope I dont regret dumping another 1200 into this after all the cussing I have done to it!!!!!

Anticipated Closing Date: October 15, 2006. Pending all legal
review, due diligence review, and approval. If such approval occurs
after such date, then closing shall take place as soon as possible.
 

---

Posted by WarpedMind on :
 
from the pr...

"Shareholders should expect the announcement of a highly respected medical professional prominent within the pathology and diagnostics community to join the company in a senior marketing capacity."
 

---

Posted by binsleep on :
 
Just this past weekend, I read how very few inventions are ever successful. The secret to success is innovation, which in turn, yields acceptance by a target audience.

It goes without saying that it will be very interesting to see if MODC can get this thing off the ground. They certainly are being very bold in regards to how they plan to present the technology to the world. The way I see it, this is a 50/50 shot.

The question is:

Could this be another invention destined to be banished to a dust-covered shelf, or will the innovative strategy presented by AW and crew actually be successful?

Ante up!
 

---

Posted by WarpedMind on :
 
If it really works, then it should NOT be allowed to sit on a shelf unused.
 

---

Posted by northwoods on :
 
My question is:

How is the company going to market a "theory"?

I think a better name for the 'Boveran Cancer Detection System' would be:

'Chromosomal Imbalance Detection System'
 

---

Posted by binsleep on :
 
northwoods,

They will be marketing a technology based on Boveran's theory.

From a recent PR:

"The system completely eliminates heretofore unreliable, subjective, and error-prone pathology diagnosis of cancer and delivers an automated and completely objective measurement of the presence or absence of cancer with the highest accuracy rate of any diagnostic technology in the world."

MODC has also stated that the name is being used to give credit to the man who first came up with the idea that cancer is related to aneuploidy.
 

---

Posted by binsleep on :
 
I am going to verify that first remark with someone from the company. I'll report back.
 

---

Posted by bobcat88 on :
 
"The system completely eliminates heretofore unreliable, subjective, and error-prone pathology diagnosis of cancer and delivers an automated and completely objective measurement of the presence or absence of cancer with the highest accuracy rate of any diagnostic technology in the world."

All that, and for 500k. Man I sure hope so. FYI I still havent heard back from AW, but I'm sure that with all this going on he's got a lot going on.
 

---

Posted by binsleep on :
 
FWIW, this is what I found out about the technology involved.

They will be using standard lab equipment to examine tissue samples which are fed into a high-end computer system. The system contains software which Dr. Rasnick has invented. Once analyzed, the machine is able to report the amount of aneuploidy (or lack thereof) along with high resolution images of the cell structure of each sample.
 

---

Posted by The Phat Man on :
 
maybe it's been posted already and posters on this thread are aware, but it just came to my attention that MODC is now MODCE.
 

---

Posted by binsleep on :
 
Here is the link to the Newsweek article (published Sept 19, 2006) that has been referenced. Dr. Boveri's original theory is mentioned, along with a little background info on Dr. Duesberg.

http://www.msnbc.msn.com/id/14757547/site/newsweek/page/4
 

---

Posted by WarpedMind on :
 
Good DD, bin.

Looks like our blue light special on MODC/MODC will continue. Like true Wal-Mart fashion, watch for "falling prices" and smiling senior greeters in blue smocks.
 

---

Posted by northwoods on :
 

quote:

---

Originally posted by binsleep:
FWIW, this is what I found out about the technology involved.

They will be using standard lab equipment to examine tissue samples which are fed into a high-end computer system. The system contains software which Dr. Rasnick has invented. Once analyzed, the machine is able to report the amount of aneuploidy (or lack thereof) along with high resolution images of the cell structure of each sample.

---

The system does not detect 'Cancer' as stated in pr's. It detects 'aneuploidy' (chromosome imbalance involving an abnormal
number of chromosomes), which is a theory as to the underlying cause of cancer.
 

---

Posted by binsleep on :
 
It's a little disappointing that they couldn't wait until after the financials were put out to release all this news. The "E" has been one of the larger thorns in our side for far too long. It's certainly a momentum killer.

Ya know, I've owned shares in MODC for more than a year and half (call me crazy), and this is the first time I've seen them this excited. The general tone of interviews, PR's, and my own correspondence with the company tells me that this is just the tip of the iceberg. Like I said before, this could turn out to be a bang or a bust, but it is definately interesting
 

---

Posted by bobcat88 on :
 
What happened to Kat?
 

---

Posted by WarpedMind on :
 
If this makes anyone feel any better... my sources are happy.

When they're happy, that's good news.

They filled me in on some stuff which I can't divulge, but this next year should be very exciting.
 

---

Posted by binsleep on :
 

quote:

---

Originally posted by northwoods:

quote:

---

Originally posted by binsleep:
FWIW, this is what I found out about the technology involved.

They will be using standard lab equipment to examine tissue samples which are fed into a high-end computer system. The system contains software which Dr. Rasnick has invented. Once analyzed, the machine is able to report the amount of aneuploidy (or lack thereof) along with high resolution images of the cell structure of each sample.

---

The system does not detect 'Cancer' as stated in pr's. It detects 'aneuploidy' (chromosome imbalance involving an abnormal
number of chromosomes), which is a theory as to the underlying cause of cancer.

---

Actually, you are only half correct. It is no secret that cancerous cells contain a chromosome imbalance. What is still under debate is whether or not cancer causes the chromosome imbalance or the chromosome imbalance causes cancer (the old chicken vs egg debate). The system does in fact, detect Cancer by determining whether or not there is a chromosome imbalance. The aneuploid theory which Dr. Rasnick and Duesberg have come up with adds validity to why there is a chromosome imbalance in cancerous cells in the first place.

The implications of this theory are huge, probably moreso than the advent of the technology which detects it IMO.
 

---

Posted by WarpedMind on :
 
I'll tell you what I think is interesting...

We're two hours into the day with an E on our name, yet we've had zero volume and no price drop. I expected there to be some dumping.

This is a good sign. Maybe people know and understand that we're at the bottom and that the E is temporary.

Consider MOTG(E) on sale, folks. This is a good buy.
 

---

Posted by binsleep on :
 
MODC(E)
 

---

Posted by bobcat88 on :
 
Time for some comic relief, yes it relates to MODC even.

A mother and her two children, Jon and Adam, wander into the local mall for an afternoon of shopping. The first store they find is an electronics store. Jon looks around and tugs on his mother's sleeve.

"Mom, mom! Can I have a new TV, a Playstation 2 AND an X-Box?"
"Sure dear, whatever you'd like", replies the mother.

By now Adam has had a look around and returns to his mother, tugging at her sleeve.

"Mom, mom! I need some new batteries for my alarm clock, I keep sleeping in and missing school..."
"No son, we can't afford them, sorry.", mutters the mother.

The family moves on and finds the next store, a furniture and bedding store. Once again Jon is the first to run in and have a look around.

"Mom, mom! I want a new bunk-bed, a new dresser, and these big fluffy pillows over there! The star-warz ones!"
"Sure son! Anything you'd like...", replies the mother.

Adam peaks inside the store and caustiously turns to his mother...

"Mom, do you think I could get a blanket for my bed...? The sheet that I have is awefully cold during the night..."
"Hmm... no sorry son, not this time...", sighs the mother.

The family moves on, Jon skipping happily and Adam sulking somewhere behind his mother. By now it's getting late and they only have time for one last store, which by chance is a candy store!

Jon's eyes grow wide as he takes in the sheer size of the store and all the candy therein.

"MOM!!! MOM! I want Jolly Ranchers, Starburst, Sweet Tarts, Licorice, Mike & Ikes, Nerds, a Mars Bar annddd... SOUR PATCH KIDS!"
"Anything you want Jon!" laughs the mother.

Adam had decided he wouldn't say anything, but couldn't resist trying anyways...

"Could.... could I get some juice, from the back of the store there...? my throat really hurts...", Adam whimpers.
"You'll just have to wait, we have water at home...", replies the mother.

With Adam almost in tears and Jon happy as a clam the family decides it's time to go home. On the car ride home Jon starts to gloat and make fun of Adam who didn't get anything...

"Look at all this great stuff I got! Haha you didn't get anything. I have a TV, all these cool games, a comfy bed and tons of candy! I'm not gonna share any of this with you either, 'cause you don't even have anything for me in return! Whadya think about that!!!" Jon says laughing and poking Adam.

Adam has had enough and looses his temper...

"YEAH MAYBE I DON'T HAVE COOL TOYS AND CANDY, BUT AT LEAST I DON'T HAVE CANCER!!!" screams Adam.
 

---

Posted by northwoods on :
 

quote:

---

Originally posted by binsleep:

quote:

---

Originally posted by northwoods:

quote:

---

Originally posted by binsleep:
FWIW, this is what I found out about the technology involved.

They will be using standard lab equipment to examine tissue samples which are fed into a high-end computer system. The system contains software which Dr. Rasnick has invented. Once analyzed, the machine is able to report the amount of aneuploidy (or lack thereof) along with high resolution images of the cell structure of each sample.

---

The system does not detect 'Cancer' as stated in pr's. It detects 'aneuploidy' (chromosome imbalance involving an abnormal
number of chromosomes), which is a theory as to the underlying cause of cancer.

---

Actually, you are only half correct. It is no secret that cancerous cells contain a chromosome imbalance. What is still under debate is whether or not cancer causes the chromosome imbalance or the chromosome imbalance causes cancer (the old chicken vs egg debate). The system does in fact, detect Cancer by determining whether or not there is a chromosome imbalance. The aneuploid theory which Dr. Rasnick and Duesberg have come up with adds validity to why there is a chromosome imbalance in cancerous cells in the first place.

The implications of this theory are huge, probably moreso than the advent of the technology which detects it IMO.

---

quote:

---

Originally posted by northwoods:

quote:

---

Originally posted by binsleep:

quote:

---

Originally posted by northwoods:

quote:

---

Originally posted by binsleep:
FWIW, this is what I found out about the technology involved.

They will be using standard lab equipment to examine tissue samples which are fed into a high-end computer system. The system contains software which Dr. Rasnick has invented. Once analyzed, the machine is able to report the amount of aneuploidy (or lack thereof) along with high resolution images of the cell structure of each sample.

---

The system does not detect 'Cancer' as stated in pr's. It detects 'aneuploidy' (chromosome imbalance involving an abnormal
number of chromosomes), which is a theory as to the underlying cause of cancer.

---

Actually, you are only half correct. It is no secret that cancerous cells contain a chromosome imbalance. What is still under debate is whether or not cancer causes the chromosome imbalance or the chromosome imbalance causes cancer (the old chicken vs egg debate). The system does in fact, detect Cancer by determining whether or not there is a chromosome imbalance. The aneuploid theory which Dr. Rasnick and Duesberg have come up with adds validity to why there is a chromosome imbalance in cancerous cells in the first place.

The implications of this theory are huge, probably moreso than the advent of the technology which detects it IMO.

---

It sounds to me like you are saying that anyone with a chromosome imbalance has cancer. Is that correct?

---

quote:

---

Originally posted by WarpedMind:
Why are you asking regular people who simply trade stocks? Go ask a doctor or scientist. Oh wait, the person making the statement is one... I'm sure you'll find someone who will disagree with him... he's considered a renegade in the medical community. That's not necessarily a bad thing... many advancements in science and technology have been made by rebels and renegades who refuse to conform.

---

quote:

---

Originally posted by WarpedMind:
Ha! Good post bin.

North, dude, dunno how to read your post, but I'll take it with a grain of salt since the internet can be a poor way to communicate.

By the way, my sources are pretty good. Can't help it if things run late or if things fall through... that's business. If you'd rather I not share, then fine... Doesn't hurt me either way.

I don't know how posting ANY kind of answers would convince you my sources are good...

As a matter of fact, I have questioned my sources with some of your questions and I have received answers that meet my satisfaction.

By the way, for me to find out about the rs ahead of time and then trade based on it would have been insider trading. And for my source to leak that to me would also put him/her in jeopardy as well.

---

quote:

---

Originally posted by WarpedMind:
It's just a projection, not a contract or promise. I believe they even tried to explain how they came up with that number. I think they were just trying to say the POTENTIAL revenue from this product.

---

quote:

---

Originally posted by northwoods:
Did MODC close on this or not?

From pr 10/03/06, Anticipated closing date: October 15,2006.

From pr 10/19/06, Modern Technology Corp anticipates executing the definitive Asset Purchase Agreement in a timely fashion and will file a Form 8K.

---

quote:

---

Originally posted by Ragedbull777:
So the company is gonna sell a bunch of shares again. I hear about 40 million. More dilution. Here comes subpenny for sure. When will AW get it right.

---

quote:

---

Originally posted by jimmer:
I cannot believe the BS that is posted here. I am a novice investor I got excited 6 months ago and I loss a bunch of money. Luckily I make a bunch more money in my real job but I feel the pain of those who lost $$.I am fairly sure everyone except northwoods is a involved with MODC in an innappropriate way, my sources etc etc. what a joke. AW steels peoples money, lies about it and steals some more. He is moving to the Bahamas because you cannot be declared bankrupt there and the poeple that will lose their savings will not be able to afford to fly there to take revenge.

"AW is probably too busy to reply to my e-mails" That is because he is on this list posting total BS.

The guy cant post a quartly report on time, no-one on this site seems concerned about Northwoods questions on the spin-offs etc and the fact you all ignor these questions shows where you are on this and you are not being honest.

THIS STOCK IS A DOG IT WILL DILUTE AGAIN AND ANYONE WHO INVESTS IN IT WILL LOSE THEIR SHIRT AS IT IS RUN BY A DISHONEST LIAR.

Hopefully this is clear enough.

---

quote:

---

Originally posted by northwoods:
Company releases a pr about a spin-off and does nothing. It has been over 7 months, no spin-off and no news.

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

---

quote:

---

Originally posted by richone:
Now its on the pinks. You can add this to the list of AW's achievements. The man it truly a business genius. He has done nothing but dilute, dilute, dilute, making money off the suckers that continue to invest in his "schemes". The man should be investigated.

---

quote:

---

Originally posted by jimmer:
I cannot believe the BS that is posted here. I am a novice investor I got excited 6 months ago and I loss a bunch of money. Luckily I make a bunch more money in my real job but I feel the pain of those who lost $$.I am fairly sure everyone except northwoods is a involved with MODC in an innappropriate way, my sources etc etc. what a joke. AW steels peoples money, lies about it and steals some more. He is moving to the Bahamas because you cannot be declared bankrupt there and the poeple that will lose their savings will not be able to afford to fly there to take revenge.

"AW is probably too busy to reply to my e-mails" That is because he is on this list posting total BS.

The guy cant post a quartly report on time, no-one on this site seems concerned about Northwoods questions on the spin-offs etc and the fact you all ignor these questions shows where you are on this and you are not being honest.

THIS STOCK IS A DOG IT WILL DILUTE AGAIN AND ANYONE WHO INVESTS IN IT WILL LOSE THEIR SHIRT AS IT IS RUN BY A DISHONEST LIAR.

Hopefully this is clear enough.

---

quote:

---

Originally posted by richone:
Now its on the pinks. You can add this to the list of AW's achievements. The man it truly a business genius. He has done nothing but dilute, dilute, dilute, making money off the suckers that continue to invest in his "schemes". The man should be investigated.

---

quote:

---

Originally posted by jimmer:
I cannot believe the BS that is posted here. I am a novice investor I got excited 6 months ago and I loss a bunch of money. Luckily I make a bunch more money in my real job but I feel the pain of those who lost $$.I am fairly sure everyone except northwoods is a involved with MODC in an innappropriate way, my sources etc etc. what a joke. AW steels peoples money, lies about it and steals some more. He is moving to the Bahamas because you cannot be declared bankrupt there and the poeple that will lose their savings will not be able to afford to fly there to take revenge.

"AW is probably too busy to reply to my e-mails" That is because he is on this list posting total BS.

The guy cant post a quartly report on time, no-one on this site seems concerned about Northwoods questions on the spin-offs etc and the fact you all ignor these questions shows where you are on this and you are not being honest.

THIS STOCK IS A DOG IT WILL DILUTE AGAIN AND ANYONE WHO INVESTS IN IT WILL LOSE THEIR SHIRT AS IT IS RUN BY A DISHONEST LIAR.

Hopefully this is clear enough.

---

quote:

---

Originally posted by northwoods:
Come on AW. Let see a pr about the 'anticipated' 'massive' revenue 'projections' that you 'believe' are 'possible'

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.

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Originally posted by northwoods:

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Originally posted by richone:
Now its on the pinks. You can add this to the list of AW's achievements. The man it truly a business genius. He has done nothing but dilute, dilute, dilute, making money off the suckers that continue to invest in his "schemes". The man should be investigated.

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Notes maturing, dilution could be coming.

NOTE 21: CONVERTIBLE NOTES PAYABLE
Convertible Long Term Debt consists of the following:
Secured convertible Notes payable to AJW Offshore, Ltd, AJW Qualified Partners, LLC., AJW Partners, LLC, and New Millennium Capital Partners II, LLC in the amount of $2,000,000. The Notes were issued with Warrants to purchase 3,000,000 shares of our common stock. The secured convertible notes bear
interest at 8%, mature January 24, 2007, and are convertible into Modern common stock.

The secured convertible notes bear interest at 8%, mature two years from the date of issuance, and are convertible into Modern common stock, at the investors' option, at the lower of $0.44 or 40% of the average of the three lowest intraday trading prices for the common stock on the Over-The-Counter Bulletin Board for the 20 trading days before but not including the conversion date.

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Originally posted by northwoods:

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Originally posted by northwoods:

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Originally posted by richone:
Now its on the pinks. You can add this to the list of AW's achievements. The man it truly a business genius. He has done nothing but dilute, dilute, dilute, making money off the suckers that continue to invest in his "schemes". The man should be investigated.

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Notes maturing, dilution could be coming.

NOTE 21: CONVERTIBLE NOTES PAYABLE
Convertible Long Term Debt consists of the following:
Secured convertible Notes payable to AJW Offshore, Ltd, AJW Qualified Partners, LLC., AJW Partners, LLC, and New Millennium Capital Partners II, LLC in the amount of $2,000,000. The Notes were issued with Warrants to purchase 3,000,000 shares of our common stock. The secured convertible notes bear
interest at 8%, mature January 24, 2007, and are convertible into Modern common stock.

The secured convertible notes bear interest at 8%, mature two years from the date of issuance, and are convertible into Modern common stock, at the investors' option, at the lower of $0.44 or 40% of the average of the three lowest intraday trading prices for the common stock on the Over-The-Counter Bulletin Board for the 20 trading days before but not including the conversion date.

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Notes mature in 2 days.

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Originally posted by northwoods:
Where is the lab? Does it even matter?

From January 5th pr:

"As promised we have now located a furnished laboratory for the system, and lease negotiations are underway".

Almost 3 months and no news regarding a lab.

Also, it has been 6 months (OCT 2nd) since the first pr regarding the "cancer detection system".

January 5th pr also stated:

"As promised we have decided our initial target market and will announce soon the results of the new relationships and customers generated from our marketing efforts. Stockholders should expect regular updates as we enter our other target markets throughout 2007"

To me, this indicates 'marketing efforts' were already underway.

Yet the March 14th pr states:

'VitalCare will be of great value to us as we prepare for our initial marketing and sales efforts for our AnuCyte Cancer Detection lab service".

To me, this indicates the company is STILL preparing for 'initial marketing and sales efforts'.

Which pr is true?

Did MODC run into a problem or is the company just dragging its feet for some reason?

Note that,

The December Q indicated over $18 million in total liabilities. Total liabilities more than doubled from the September Q.

The December Q also indicated outstanding shares nearly DOUBLED from the September Q.

And now the March quarter is over. I can only see the March ending Q showing MORE DILUTION AND TOTAL LIABILITIES.

According to the "Business Plan", the company will have to convince sufficient medical professionals of the merits of the AnuCyte chromosomal imbalance test.

The "Business Plan" also states, "Essentially all current thinking about the genetics of cancer is contained within the gene mutation hypothesis, which contends that mutation causes cancer by activating certain cellular genes, converting them to dominant cancer genes (oncogenes), and inactivating other, tumor suppressor, genes".

Is it reasonable to believe that the company will change the thinking of the medical professionals? Gene mutation vs. chromosomal imbalance.

Why would medical professionals request a test based on a theory that is AGAINST their thinking?

The "Business Plan" also states:

"Although Management believes that the AnuCyte test methodology is a great improvement over existing test procedures, there is no "fool-proof" method of cancer detection. While we believe the situation will not occur, there is the potential that our product could provide false negative and false positive test results. In the event of a false positive result, the individual is incorrectly diagnosed to have cancer, while a false negative incorrectly diagnoses the individual to be without cancer. There is the risk that an erroneous test result may expose the Company to litigation. Although the Company will use its best efforts to obtain product liability insurance, there is the risk that the cost of such insurance may be prohibitively expensive or that the coverage will not be sufficient to cover a claim against the Company impairing continued operations".

Considering that the chromosomal imbalance theory is NOT the current thinking of medical professionals, i would assume that any medical professional requesting a test and making an erroneous diagnosis based on that test result would NOT even be covered under their own LIABILITY INSURANCE. Why would ANY medical professional expose themselves to that kind of risk???

ALL POTENTIAL INVESTORS, Do your own In-Depth Due Diligence.

AW, keep on DILUTING!

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Originally posted by binsleep:
The agreement contemplates the eventual resignation of Modern's current Board and corporate governance transferred to VitalCare's Board.

Hmm, looks like AW may be on his way out!

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Originally posted by northwoods:
CORPORATE CHARTER IN DEFAULT STATUS

Nevada Secretary of State website shows DEFAULT since 8/1/06.

Status: Default on 8/1/2006 File Date: 7/27/1982
Type: Domestic Corporation Corp Number: C4381-1982
Qualifying State: NV List of Officers Due: 7/31/2006

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