Check out the stock guys..I think it could move higher in the coming days...They will be announcing their buyout offer 2morow!! The company deals with big auto manufacturers (honda, GM, Toyota, etcc)...could move higher IMHO
Posted by Homersbud on :
Got some at .11
D Mecatronics Inc.: Lesko Receives Board Approval to Purchase D Mecatronics Monday October 15, 9:58 am ET
MISSISSAUGA , Ontario, Oct. 15, 2007 (PRIME NEWSWIRE) -- Bernardino Paolucci, Chief Executive Officer of D Mecatronics Inc. (Other OTC:DMTN.PK - News), is pleased to announce that the company has received a final purchase offer of $0.49 per share for all of its outstanding shares of the company. Mr. Paolucci comments, ``I will be recommending to D Mecatronics board of directors to accept this offer and to call a shareholders meeting as soon as possible for their ultimate approval. The board will be sitting Monday and Tuesday and it will announce its decision Wednesday AM.''
About D Mecatronics Inc.: (http://www.dmecatronics.com/)
D Mecatronics Inc. supplies components, integrated systems and robotic modules to the world's top ten automotive suppliers. Through independent subsidiaries the Company offers sector and technology specific solutions to enable our customers to dramatically accelerate time-to-market and revenue.
To date, the Company's primary activities include design, build and installation of tube-related automated systems used by automotive parts and assembly suppliers. The Company is currently offering products such as Seat Frame Systems, IP Tube systems and Integrated Bend-Weld Systems for the automotive industry.
Forward-looking statements in this release are made pursuant to the ``safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
Contact:
D Mecatronics Inc. Dino Jr. Paolucci, Director of Public Relations (905) 672 - 5659 Cell: (905) 399 -9814 dinopaolucci*rogers.com www.dmecatronics.com
Source: D Mecatronics Inc.
Posted by Homersbud on :
Nice buys going thru.
.115x.12 1x1
Posted by Homersbud on :
.125's up
Saw 200k go through at .12
Posted by Andreas on :
D Mecatronics Inc.'s Board of Directors Accepts Buyout Offer
Oct 17, 2007 08:30:33 (ET)
MISSISSAUGA, Ontario, Oct 17, 2007 (*********wire via COMTEX) -- The Board of Directors of D Mecatronics Inc. (Pink Sheets:DMTN) is pleased to announce that it has unanimously accepted the proposed buyout. The offer is for a buyout of all of the outstanding shares of the company for 0.49 per share in cash. The Board recommends that shareholders accept this offer.
"We believe the proposed price for the transaction is fair to D Mecatronics' shareholders. We intend to move quickly to complete the transaction. A shareholders' meeting will be held on November 28th in Toronto to vote on the offer. The location and time will be announced in a future PR," said Berardino Paolucci, Chairman and CEO.
D Mecatronics Inc. supplies components, integrated systems and robotic modules to the world's top ten automotive suppliers. Through independent subsidiaries the Company offers sector and technology specific solutions to enable our customers to dramatically accelerate time-to-market and revenue.
To date, the Company's primary activities include design, build and installation of tube-related automated systems used by automotive parts and assembly suppliers. The Company is currently offering products such as Seat Frame Systems, IP Tube systems and Integrated Bend-Weld Systems for the automotive industry.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
Sweeeet!!! Now lets see what it can do. TMAN...
Posted by Bigrod40 on :
So who is the company that is offering up .49 per share??
MMs are shorting this puppy to no end this morning. They are going to make a bundle when they let it run....PR**KS
Posted by PCola77 on :
Right, blame it on the MMs...
Posted by Bigrod40 on :
quote:Originally posted by PCola77: Right, blame it on the MMs...
And just who would you blame?
Posted by PCola77 on :
Probably 1 or all of the following, based on precedent:
1) People who bought for anywhere from .02 to .08 in the last month or so, selling for a huge profit on "buy rumor, sell news"
2) The company for issuing an obvious pump PR
3) The company for dumping into the PR
4) Rational traders who wouldn't touch this with a 10 foot pole because it's most likely BS.
5) People who bought in at the open, thinking it would go nuts, and sell at the bid for a loss because they are emotional traders
Shall I continue?
Posted by Homersbud on :
I'll go with #2 and #4
Posted by Bigrod40 on :
Well when your talking 112 Million Dollar buyout, that aint no BS. Thats cheap in the robotics world. Huge future here, many companies are going robotics with billions in upgrades happening.
You do have some intersting points Cola, however I will hold for a 400% increase which aint to shabby. Later
Posted by PCola77 on :
LOL. My guess is you'll be cold and dead, still holding and waiting. But good luck anyway Posted by Bigrod40 on :
quote:Originally posted by PCola77: LOL. My guess is you'll be cold and dead, still holding and waiting. But good luck anyway
Robotics work great in the COLD , use them in Northern Canada in a couple of mines where it reaches -40 C.
And, yes I will be DEAD when they reach thier full potential, but the kids will reap the benefits of my millions...LOL Posted by Homersbud on :
Bigrod, the market has all the answers...
They don't believe this buyout hence it's currently at 08
Posted by tmanfromtexas on :
I picked up a few last week as a lotto. At least they didnt come out with some off the wall BS about doing additional audits etc. They just said the BOD accepted the proposal. I am curious to how it plays out and hopefully make a few bucks in the process. BTW. Pcola, I dont think the company is dumping. There has been only 4mm shares traded and not all were sells. That is about 3X the daily volume. TMAN...
Posted by PCola77 on :
I realize that I probably worded it poorly in that I did not mean to make suppositions about what IS going on, just that I'd say any of the ones I listed are infinitely more plausable than "MMs holding it down".
quote:Originally posted by tmanfromtexas: Pcola, I dont think the company is dumping. There has been only 4mm shares traded and not all were sells. That is about 3X the daily volume. TMAN...
Posted by tmanfromtexas on :
Come on Pcola. We all know that you are bashing this stock because you want it to fall so you can load the boat. LMAO!!! Just like you did JMPC. Just ask TopRob everyone. He'll tell you that Pcola is a paid basher. ROTFLMAO!!! Just kiddin Pcola. Congrats on the mpg buyout possibility. TMAN...
Posted by PCola77 on :
LOL. Thanks tman. I try my best to be a subtle paid basher, but people like you and Rob are too quick on the draw in figuring it out
As soon as MPG gapped up this morning I was like "I should sell" but then figured, no, this is an NYSE stock, not a penny stock where the buyout is unrealistic and everyone knows it.
Watch though, just my luck, this one (DMTN) will go through and MPG won't Posted by tmanfromtexas on :
I read the article where they were offered over 40 a share this time last year and he didnt take it. I guess he knows something we dont. I am sure mpg will go before this one. TMAN...
Posted by Bigrod40 on :
Hey Rod, can you be kidding if it's true? Posted by Bigrod40 on :
Great pictures of the company....enjoy
http://investorshub.a d v fn.com/boards/read_msg.asp?message_id=23799977
Posted by PCola77 on :
Down to .07, or -42% since yesterday...
Posted by tmanfromtexas on :
Yep, its a good buying opp if I ever one. LOL. TMAN...
Posted by PCola77 on :
Whoops, double posted this for some reason, like an hour apart...
Posted by Homersbud on :
So those pictures look legit, but the market still doesn't care for this buyout.
What's the next step? Wait for this shareholders meeting?
Posted by tmanfromtexas on :
Update... TMAN...
Press Release Source: D Mecatronics Inc.
D Mecatronics Inc. Comments on Recent Activity Friday October 19, 9:30 am ET
MISSISSAUGA, Ontario, Oct. 19, 2007 (PRIME NEWSWIRE) -- D Mecatronics Inc. (Other OTC:DMTN.PK - News) is pleased to comment on recent activity in the trading of D Mecatronics stock. ADVERTISEMENT
``The company has received numerous calls this past week in regards to the buyout from Lesko Investment Company,'' said Berardino Paolucci, Chairman and CEO. ``The volatility in the stock price should be attributed to speculators trying to profit on a short term basis from the buyout process. We intend to hold our shareholder meeting in November and move to complete the buyout transaction at that time. It is our belief that the stock should reflect the buyout price as we move closer towards the meeting date.''
Furthermore Mr. Paolucci stated, ``The Company principals are committed to the buyout process. All of our stock is restricted and we can only benefit from the buyout once it has been completed. Investors should also be made aware that the company has not compensated in cash or stock any organizations or groups to provide awareness for D Mecatronics during the recent run-up.''
About D Mecatronics Inc.: (http://www.dmecatronics.com/)
D Mecatronics Inc. supplies components, integrated systems and robotic modules to the world's top ten automotive suppliers. Through independent subsidiaries the Company offers sector and technology specific solutions to enable our customers to dramatically accelerate time-to-market and revenue.
To date, the Company's primary activities include design, build and installation of tube-related automated systems used by automotive parts and assembly suppliers. The Company is currently offering products such as Seat Frame Systems, IP Tube systems and Integrated Bend-Weld Systems for the automotive industry.
Forward-looking statements in this release are made pursuant to the ``safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
Contact: D Mecatronics Inc. Dino Jr. Paolucci, Director of Public Relations Phone: (905) 672-7669 Cell: 905) 399-9814 dinopaolucci*rogers.com www.dmecatronics.com
-------------------------------------------------------------------------------- Source: D Mecatronics Inc.
Posted by PCola77 on :
I refer you to my post on October 17, 2007 04:54 PM
Posted by tmanfromtexas on :
I think this one will be a trader's dream. up, down, up more, down some, rinse, repeat. If the buyout comes then great those who got in at the right time will profit and the ones that didnt get in at the right time will still make a little profit. If the buyout doesnt happen then those that got in at the wrong time will lose. Its all how you play it imo. And believe me, it is a play in my book. TMAN...
Posted by PCola77 on :
I wish you luck!
Posted by Bigrod40 on :
Its SWEAT TIME for MMs Printing .12s and flying. I smell .49 soon
D Mecatronics Issues Shareholder Update
MISSISSAUGA, Ontario, Oct. 22, 2007 (PRIME NEWSWIRE) -- D Mecatronics Inc. (Pink Sheets:DMTN) is pleased to update the investment community pertaining to the pending buyout of the company. This buyout is for is for all the outstanding shares of DMTN at .49 per share USD.
Berardino Paolucci, Chairman and CEO of D Mecatronics, is pleased to report, "Upon receiving shareholder approval of the buyout we intend to issue instructions to shareholders on how to proceed to turn in their stock. Certificates should be exchanged for cash via electronic form or certificate form."
"The agreement to transact the private purchase of all DMTN issued and outstanding stock for .49 USD has been approved by the D Mecatronics board of directors and also the purchaser's board of directors," said Mr. Paolucci. "In order to complete the sale process quickly and have maximum shareholder participation, we intend to proceed with an electronic proxy vote or via teleconference instead of the previously announced stockholders meeting. Instructions on how the company intends to complete the shareholder proxy vote in the timeliest manner to satisfy SEC rules will be provided through instructions by the company in a forthcoming press release. D Mecatronics' board of directors has no explanation of the recent and current stock activity and volatility. We want to insure our shareholders that we are moving very quickly to complete the sale process, and press releases on our activities will be released and communicated as they occur."
Posted by PCola77 on :
This reminds me of IDWD.
"We're going to announce a buyout soon" PR
Stock price bumps up
"We will annouce the terms of the buyout next week" PR
Stock price bumps up further
"Here are the terms of the buyout, somethign like a 400% premium to current price" PR
Stock price spikes, then tails off
"Didn't you hear us? We will be bought out at a huge premium!" PR
Stock price bounces around, with no real direction.
"That's just short term traders taking profits. Don't forget how much of a premium will be paid to you. This is a no brainer" PR
Stock price stays flat.
"No really, we're serious!" PR
Small spike, then fades back down...
Now, if it's like IDWD, you may see a huge spike again before it falls back down.
As a comparison, IDWD went from .17ish to I think a high of like $1.70 for a 1000% gain.
So yeah, it could happen, but I personally avoid plays like this nowadays, when I am 99% sure it's a scam, even if I am prety sure I could make money on it.
I do genuinely wish you all luck, but I think you are sorely mistaken if you actually believe you will ever see a buyout for .49.
Why wouldn't the "buyer" just be buying on the open market?
Posted by Bigrod40 on :
I would presume that the buyer is!! Only makes good business sense not to, right?
Posted by PCola77 on :
If the buyer really was, you woudn't have seen a drop to .08 last week.
quote:Originally posted by Bigrod40: I would presume that the buyer is!! Only makes good business sense not to, right?
Posted by Bigrod40 on :
quote:Originally posted by PCola77: If the buyer really was, you woudn't have seen a drop to .08 last week.
quote:Originally posted by Bigrod40: I would presume that the buyer is!! Only makes good business sense not to, right?
That was a basic MM Game PC !!!! I would hope that you bought at .08 ?? By the way, do you own this stock, because you sure are following it?
Posted by tmanfromtexas on :
I dont know if this is the answer to your question P but you used a great example of pink sheet stocks issuing PR's to promote a buyout. NDOL did it last year as well. The bottom line is that its a play. I said it earlier and I will say it again. Its a play. Lets say I own a 100000 shares at an average of .09. It runs to .30. Guess what I am a selling fool. You know why? Because i just made 23K. Not a bad run. Do I leave money on the table. Sure I do but I just made 23k. That is all this is to me. I would have made many thousands of dollars in IDWD but got scared out of it and only broke even. I know where my out is on this stock. If people are buying it they better have an out too. If they file an 8K that says I get .49 a share I will hold until it all turns to green. Thats the way to play it imo.
Thanks for the other side of the coin. Newbies can and will get burned on these plays and need to know that there is a downside. TMAN...
Posted by tmanfromtexas on :
quote:Originally posted by Bigrod40:
quote:Originally posted by PCola77: If the buyer really was, you woudn't have seen a drop to .08 last week.
quote:Originally posted by Bigrod40: I would presume that the buyer is!! Only makes good business sense not to, right?
That was a basic MM Game PC !!!! I would hope that you bought at .08 ?? By the way, do you own this stock, because you sure are following it?
Pcola and I both have been burnt on stocks that PRed crap and screwed investors so hard they had to have a colostomy bag. This is a play imo and I am glad Pcola is here giving the other side. It keeps it balanced and that is why this board is tops. TMAN...
Posted by PCola77 on :
that is solely my intent. Not to try to convince anyone to sell, because most of you understand the risks, but to put them out there in writing for people that mmay not have been involved in somethign like this before.
For the record, I made over 200% with IDWD. Was one of my first plays ever, and turned $5K into over $15K. Lost almost all of it chasing the next big one, until I started to leanr what the hell goes on in pennyland
quote:Originally posted by tmanfromtexas: Thanks for the other side of the coin. Newbies can and will get burned on these plays and need to know that there is a downside. TMAN...
My apologies: total was 210,000 of which 170,000 was at .11. Anyways someone just spent almost 19,000 on this stock. My guess is its an insider from the new owners. Comments Please !!! I know there coming from a certain person...LOL Posted by PCola77 on :
Well, it's moving this morning, hope it keeps going for you guys!
Posted by tmanfromtexas on :
Its up on good volume too. I am sure there will be some profit takers somewhere but I dont know where that will be yet. I am guessing around .15 or .20. TMAN...
Posted by Homersbud on :
Wow, .15 prints
Posted by PCola77 on :
Ask is .17. Congrats to you guys that got in.
Posted by tmanfromtexas on :
They havent changed their tune. I still like it...TMAN...
D Mecatronics Announces New Developments 9:30a ET October 30, 2007 (*********wire) D Mecatronics Inc. (Pink Sheets:DMTN) is pleased to announce new developments regarding the buyout of the company. This buyout is for all the outstanding shares of DMTN at USD.49 per share.
Berardino Paolucci, Chairman and CEO of D Mecatronics, announces, "Our Company has received a buy/sell agreement and it will be forwarded to our attorneys for review. Our intention is to issue a proxy statement including the details to the buy/sell agreement. Our hope is to have this proxy statement concluded by next week."
Furthermore, Mr. Paolucci commented, "The buyout process is moving forward rapidly. The company is committed to completing the transaction on a timely basis. Our attorney and advisors are busy preparing all the necessary documents to have a successful shareholder's meeting. The USD.49 offer is fair in light of the tremendous upside considering our pending business opportunities."
About D Mecatronics Inc.: (http://www.dmecatronics.com/)
D Mecatronics Inc. supplies components, integrated systems and robotic modules to the world's top ten automotive suppliers. Through independent subsidiaries the Company offers sector and technology specific solutions to enable our customers to dramatically accelerate time-to-market and revenue.
To date, the Company's primary activities include design, build and installation of tube-related automated systems used by automotive parts and assembly suppliers. The Company is currently offering products such as Seat Frame Systems, IP Tube systems and Integrated Bend-Weld Systems for the automotive industry.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
D Mecatronics Inc. Dino Jr. Paolucci, Director of Public Relations (905) 672-7669 Cell: (905) 399-9814 dinopaolucci*rogers.com www.dmecatronics.com Posted by Bigrod40 on :
Its buying OPPORTUNITY TIME for Bigrod...Hehehehe Posted by Bigrod40 on :
Email reply from questions about todays PR ::
Just checked my email and received a lightning fast response from Dino. This is what he said in the email:
Good Morning John,
"First and foremost I would like to take this opportunity on behalf of D Mecatonics Executive Management team to thank you for your expressed interest in our Company.
At this juncture we have taken the necessary steps to conform to the bylaws set forth by the Securities and Exchange Commission (SEC). Therefore the next logical step (prior) to our Shareholders Vote, is to make the information pertaining to the details of the proposed buyout available to the investment community in the form of a Proxy Statement.
The purpose of today’s news was to offer shareholders a transparent overview into developments as they unfold.
As per our news release we are expecting to make available the Proxy Statement in the near future, in order to offer Shareholders a clear understanding to our proposed buyout.
As common when I communicate with Shareholders/investors I invite/welcome you to contact me at any point with your questions, and feel free to do so at anytime (via phone or e-mail)
I assure you that your Executive Management team is working diligently towards maximizing value for our Shareholders.
Kindest Regards
BTW...He is giving an invitation here for you to call or email him anytime you have questions, so no need to worry or fret or bombard the board with questions when you can go straight to the source. Dino sounds quite approachable.
Posted by tmanfromtexas on :
I find this interesting. The PR below gives the date of the shareholders meeting. Cool. They havent budged from the .49 per share all cash offer. Cool. They set the date for shareholders to be in the stock and have voting rights. Cool. People wonder why the share hasnt increased. Its a pink sheet. lol. I am still in and will add a few as cash becomes available and folks sell due to frustration. TMAN...
D Mecatronics Announces Details Pertaining to Proxy Vote Thursday November 8, 9:00 am ET
MISSISSAUGA, Ontario, Nov. 8, 2007 (PRIME NEWSWIRE) -- D Mecatronics Inc. (Other OTC:DMTN.PK - News) today announced that it has scheduled a special meeting of shareholders for December 14, 2007 to consider approval of the all-cash buyout offer it has recently received. This offer has been described in greater detail in the company's previous press releases. Shareholders of record at the close of business on November 14, 2007 will be entitled to vote in person or by proxy at the meeting. The special meeting will be held in Toronto, Ontario, Canada. The exact time and location of the meeting will be announced in the proxy materials for the meeting, which D Mecatronics will send to its shareholders of record in the next week. These materials will include a description of the matter to be voted on at the meeting, along with a proxy card enabling shareholders to indicate their vote on the matter. D Mecatronics will also make the proxy materials available by filing them on the Pink Sheets website (http://www.pinksheets.com) and D Mecatronics website (http://www.dmecatronics.com)
Under the terms of the proposed buyout transaction, D Mecatronics shareholders would receive $0.49 in cash for each share of D Mecatronics common stock held. Subject to the satisfaction of customary closing conditions, the transaction is anticipated to close at the end of January 2008.
Shareholders may attend the special meeting if they are listed as shareholders of record at the close of business on November 14, 2007 and bring proof of identification. If they hold their shares through a broker or other nominee, they will need to provide satisfactory proof of share ownership, which will be described in the proxy materials.
The Company is subject to the Delaware General Corporation Law, which requires that notice of a special shareholder meeting ``shall be given not less than 10 nor more than 60 days before the date of the meeting to each stockholder entitled to vote at such meeting. If mailed, notice is given when deposited in the United States mail, postage prepaid, directed to the stockholder at such stockholder's address as it appears on the records of the corporation.''
About D Mecatronics Inc.: (http://www.dmecatronics.com/)
D Mecatronics Inc. supplies components, integrated systems and robotic modules to the world's top ten automotive suppliers. Through independent subsidiaries, the Company offers sector and technology specific solutions to enable our customers to dramatically accelerate time-to-market and revenue.
To date, the Company's primary activities include design, build and installation of tube-related automated systems used by automotive parts and assembly suppliers. The Company is currently offering products such as Seat Frame Systems, IP Tube systems and Integrated Bend-Weld Systems for the automotive industry.
Forward-looking statements in this release are made pursuant to the ``safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
Contact: D Mecatronics Inc. Dino Jr. Paolucci, Director of Public Relations (905) 672-7669 Cell: (905) 399-9814 dinopaolucci*rogers.com www.dmecatronics.com
-------------------------------------------------------------------------------- Source: D Mecatronics Inc.
Posted by tmanfromtexas on :
Well its back to a cheap price again. I called the TA and spoke to Jason. The company has contacted them and said the proxy material will be sent out shortly. They in turn will send it to us. I wont say this is or isnt a scam but if I get the proxy material, I will be saying it aint. TMAN...
Posted by cottonjim on :
Hmmmmmmm
Posted by tmanfromtexas on :
Hey Jimmooooooooooooooooo!!! You in yet? TMAN...
Posted by cottonjim on :
Small position tman, rolling the dice with 5K at .07 to see what shakes out. I been busy as hell, what have you been up to?
Posted by tmanfromtexas on :
Went to Texas for a week. Worked at the farm, got my Cortez, I thought I was gonna send it back, but I figured out that you cant swing it like an ace. much slower but it recovers well. Dug a nickel at 9 inches. 9 INCHES!!! thought I was going to LA for the winter but it looks like I am going to be staying here in the frozen wasteland of indiana. lol. as far as stocks go, I am waiting on uhcr to do something. I am almost back to even. Waiting on this proxy and trying to figure out how to get to the Phillipines so that I can meet pearl personally and kick her ass. They reverve split the preferred again. I went from 5bb shares to 70. lol. I dont want to get into trouble so I will just say I hope that God punishes them on earth and then sends them to hell so that they can suffer for all eternity. That should be ok huh? lol. Glad to here work is going good. Mine is slow but will pick up here soon i think. TMAN...
Posted by cottonjim on :
quote:Originally posted by tmanfromtexas: Waiting on this proxy and trying to figure out how to get to the Phillipines so that I can meet pearl personally and kick her ass. They reverve split the preferred again. I went from 5bb shares to 70. lol. I dont want to get into trouble so I will just say I hope that God punishes them on earth and then sends them to hell so that they can suffer for all eternity.
Glad to see your not holding a grudge Posted by metal1 on :
actually moving up today. i finally got in at .06 and .065 just for fun. i don't really believe the buyout will occur. i hope i am proven wrong though.
Posted by Bigrod40 on :
News...not what we wanted!!!!!
D Mecatronics Presents Definitive Proxy Materials
2007-12-04 15:57 ET - News Release
MISSISSAUGA, Ontario, Dec. 4, 2007 (PRIME NEWSWIRE) -- D Mecatronics Inc. (Pink Sheets:DMTN) today announced that it has completed a definitive proxy statement regarding the written, preliminary proposal of Investment Group "LesKo," a Russian investment company, to purchase either substantially all of D Mecatronics assets or at least a majority of D Mecatronics common stock. The proxy materials can be viewed and downloaded now on D Mecatronics' website (www.dmecatronics.com). The proxy materials include detailed instructions on how to vote.
The proxy materials relate to a special meeting of the shareholders of D Mecatronics, to be held on December 14, 2007 at 10:00 a.m., local time, at D Mecatronics headquarters, 7669 Kimbel Street, Mississauga, Ontario Canada. D Mecatronics stockholders of record as of the close of business on November 14, 2007 will be entitled to vote at the special meeting, which will consider the preliminary purchase proposal submitted the Company.
On September 17, 2007, the Company's Vice President and Director received a written preliminary proposal from Investment Group "LesKo," a Russian investment company representing the interests of an undisclosed client (hereafter "LesKo") expressing interest in the Company's "potential interest in selling the assets which also include experience, all the patents, technologies and equipment" of the Company.
On September 21, 2007, LesKo sent the Company another letter stating "the estimation of the cost of the company's assets (120 million) which has been agreed by us during the discussion seems to be a good base for further negotiations." Subsequently LesKo gave the Company an unsigned preliminary proposed "Common Stock Purchase Agreement" dated November 5, 2007, which proposed a purchase and sale of the Company's common stock at a purchase price of forty nine cents (US$0.49) per share.
These preliminary proposals from LesKo discuss a possible, but not definite, future offer for either a purchase of substantially all of the Company's assets or a purchase of at least a majority of the Company's outstanding common stock. Either proposal would require, at some future date, an affirmative vote from our shareholders approving such action. The special meeting on December 14 will consider the question of whether a majority of the Company's shareholders have interest in further negotiations with LesKo. At the special meeting, shareholders will be asked to vote for or against the Company's pursuit of further negotiation of the preliminary proposal with LesKo.
"We emphasize that at this point the negotiations are preliminary, and neither party has given any assurances that an agreement can be reached or that material terms can be agreed upon. Many of the material facts remain undisclosed at this time, but we intend to complete a due diligence review as part of further negotiations. The purpose of a Special Shareholder Meeting at this preliminary stage is to hold a non-binding referendum on shareholder interest in the proposal, so as to give LesKo a preliminary indication about whether future shareholder consent for a firm offer has any possibility of being obtained," wrote Berardino Paolucci, President of the Company, in his cover letter to the definitive proxy materials dated December 3, 2007.
If or when a final definitive agreement with LesKo is reached, the Company will provide another proxy statement and hold another shareholder meeting in which further disclosure and voting will occur. The Company anticipates that this preliminary non-binding referendum will help encourage LesKo to continue further negotiations with the Company.
The Company's Board of Directors has unanimously approved further negotiation of the preliminary purchase proposal from LesKo and has determined that it should take the preliminary purchase proposal seriously and engage in further negotiations with and due diligence investigation of Investment Group "LesKo" to determine whether their proposal is suitable for the Company and the holders of the Company's common stock.
The Company's Board of Directors unanimously recommends that stockholders vote "FOR" the further negotiation of the preliminary purchase proposal. The proposal requires the approval of a majority of the D Mecatronics shares that are present or represented by proxy at the shareholder meeting.
Shareholders are encouraged to read the Company's definitive proxy materials in their entirety as they provide, among other things, a discussion of the process that led to the preliminary proposal.
D Mecatronics shareholders are reminded that their vote is very important regardless of the number of shares of common stock they own. Whether or not shareholders are able to attend the Special Meeting in person, they should complete, sign and date the proxy card and return it as soon as possible, and no later than 10:00 am on December 14, 2007.
Shareholders who have questions about the proposed buyout or need assistance in submitting their proxy or voting their shares should contact Dino Paolucci Jr. (Vice President and Director of public relations)
About D Mecatronics Inc.: (http://www.dmecatronics.com/)
D Mecatronics Inc. supplies components, integrated systems and robotic modules to the world's top ten automotive suppliers. Through independent subsidiaries the Company offers sector and technology specific solutions to enable our customers to dramatically accelerate time-to-market and revenue.
To date, the Company's primary activities include design, build and installation of tube-related automated systems used by automotive parts and assembly suppliers. The Company is currently offering products such as Seat Frame Systems, IP Tube systems and Integrated Bend-Weld Systems for the automotive industry.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
CONTACT: D Mecatronics Inc. Dino Jr. Paolucci, Director of Public Relations (905) 672-7669 Cell: (905) 399-9814 dinopaolucci*rogers.com www.dmecatronics.com Posted by tmanfromtexas on :
Yep, another ceo added to the long and distinguished list. LOL. TMAN...
Posted by Homersbud on :
what a joke TMAN.
Posted by tmanfromtexas on :
yeah homer, its pretty pitiful. another aurc style P and D. Oh well Pcola was right as rain on this one. I gotta give him kuddos for calling it. I half assed believed it might go through since they do have a business but once again alot of stock holders will get taken to the cleaners. I for one will only lose a little but that sure does suck just the same. TMAN...
Posted by cottonjim on :
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Well when your talking 112 Million Dollar buyout, that aint no BS. Thats cheap in the robotics world. Huge future here, many companies are going robotics with billions in upgrades happening.![[Big Grin]](biggrin.gif)
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http://atom.smasher.org/construction/?l1=DMTN&l2=Approved+Buy&l3=OUT+*+.49+ct&l4 =Cash+PPS
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