posted
This is from a friend of mine on another board
"I've been trying to contact Tom G. at the Michele Audio office all day, they tell me he has been in conference calls all day, yesterday same thing, I think he has some tough cookies working on this massive short crap that Cornell has dealt them, I know from a couple past phone calls that he said that himself and his family are the major shareholders in MLXO and they are very upset with what Cornell has done to their stock price, I got the impression from him that they were going to play some serious hardball against Cornell, they were not going to let them get away with this. The Fireworks are coming you can take that to the bank." -Inves7
If cornell doesn't cover their ass well they are stuck loosing alot of money that is why there is no volume.
-------------------- Dead Kennedys-"Give me convenience or give me death" Posts: 470 | From: Vancouver B.C | Registered: Jan 2005
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Posted by: Investo7 In reply to: None Date:4/28/2005 9:36:29 PM Post #of 555
I got thru to Tom G. today a few minutes before 5, he said they definitely ARE filing the 10K, they had some unforseen delays, Hurdles he called them, I asked if it would be out by tomorrow, he said no, very Probable next week but they WILL NOT GO TO THE PINKS, they have 2 more weeks. I tried to pry more info about Cornell, He and his family are mad as hell about it. He said an Investment Banker that was consulting for the company last year, hooked them up with Cornell, he no longer works for the company or is affiliated with MLXO either. He said their decision to deal with Cornell was a wrong direction for the company. The best description he could give me was this, someone who is consulting or something for MLXO Now, after looking eveything over, said that this company is like a Ferrari and Cornell has taken away most of it's gas! LOL Thats a quote! Once they get gassed up, Cornell will be gone and they will be back on track. This is a solid company since 1972 with 15 MIL in assets, they WILL get back up, it's just a matter of time.
Posts: 100 | Registered: Feb 2005
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posted
Nobody is selling their shares... Everyone is just holding tight.. Alot of people on other boards are trying to get in at .035 and nobody is getting filled its just sitting.
-------------------- Dead Kennedys-"Give me convenience or give me death" Posts: 470 | From: Vancouver B.C | Registered: Jan 2005
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posted
I bailed at .35 for small profit, gathering my chicks for nexweek: BUT it went through IMMEDIATELY if that tells you guys anything...I'm new, but I'm guessing my broker wanted it. Literally, I clicked on send and my "SOLD" popup appeared.
posted
Actually my friend was half of the volume on friday LOL he was trying to get in a 100k at .035 but couldn't get any shares.. i guess when you sold your well he picked them up.
-------------------- Dead Kennedys-"Give me convenience or give me death" Posts: 470 | From: Vancouver B.C | Registered: Jan 2005
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posted
Your right! Im still holding strong ..is everyone else still in..? a good 5.71% again today.
Posts: 470 | From: Vancouver B.C | Registered: Jan 2005
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posted
Yah tom give us a bone here! Throw us that 10k we want and the cornell press release!
Posts: 470 | From: Vancouver B.C | Registered: Jan 2005
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posted
Your right they have until the 20th of may. The CEO and his family own most of the stock in this company so im sure we wont see it go to pinks.
Posts: 470 | From: Vancouver B.C | Registered: Jan 2005
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posted
The CEO said the 10k will be out next week. And that in it shows that rejection of funding from cornell apparently and why the 10k is late.
Posts: 470 | From: Vancouver B.C | Registered: Jan 2005
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Did I read that correctly?? did they get a loan from wells fargo, and use it to make a payment to wells fargo??? If so, It looks promising to me... I mean if wells fargo is willing to loan them just to keep the paperwork in order for a loan.... it might look a little strange, but it also shows a little promise for the future on there part. or am I just looking to get my aspen kicked!!
-------------------- This is gunna be a great day, or it will suck! Posts: 3209 | From: poohville ohio | Registered: Apr 2005
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posted
On the other side of the coin, upon further scrutiny of wells fargo thing.... maybe we should call them " Guido" or somethin like that... They sound like loan sharks... They might as well just say ..PAY ME BY THE 28th OR WE BREAK YO LEGS, SHOOT YOUR DOG,, AND DROWN YOUR GOLDFISH!!!!!!!!!! ah... it's just buisness...
-------------------- This is gunna be a great day, or it will suck! Posts: 3209 | From: poohville ohio | Registered: Apr 2005
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"Wells Fargo and Michele Audio have agreed that Michele Audio will seek alternative financing sources to repay the Credit Agreement. Wells Fargo has made demand for immediate payment in full and Michele Audio has confirmed that certain obligations are due and payable and that certain events of default have occurred."
Wells Fargo wants their money now and Michelex has to find funding somewhere soon as they are already in default. Not very promising to me...
-------------------- If you made money, it was a good trade Posts: 453 | From: Cleveland, Ohio | Registered: Apr 2005
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posted
Don't ya just love holding stocks these days....Geezz...Well, looks like more clutter for the ole portfolio....The thing will probably turn around in a few months and double!
Posts: 10729 | From: oregon | Registered: Feb 2005
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posted
originally posted by dustoff101 --------------------------------------------------------------------------------
quote: Don't ya just love holding stocks these days....Geezz...Well, looks like more clutter for the ole portfolio....The thing will probably turn around in a few months and double!
Ya.. all i need is some like news about CTGLF and it will be no longer a portfolio, it will be called a CORNHOLEO!! And on top of all that, The Walleye are gone!!!
-------------------- This is gunna be a great day, or it will suck! Posts: 3209 | From: poohville ohio | Registered: Apr 2005
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posted
I bought in at .031 and I'm at now, with these Wells Fargo news, I don't think the 10K will ever be filed, where is MLXO get the money to pay by the end of the month. There's a lot more trouble with this company, no news, is bad news. Something is very fishy here. BYe, bye MLXOE followers
Posts: 2362 | From: BEENEVERYWHERE | Registered: Mar 2005
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