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just wanted to warn anyone still in and let others know their .0001 buy orders will be going through today.
Posts: 908 | Registered: Dec 2004
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Mellon Research, Inc. Corrects Previous Press Releases
February 04, 2005 11:53:00 (ET)
SCOTTSDALE, Ariz., Feb 4, 2005 (BUSINESS WIRE) -- Mellon Research, Inc. (OTCBB: MLON.PK) is issuing this press release in order to provide corrections of information contained in previously issued press releases. The information contained in previously issued press releases should not be relied upon.
Business Model and Services
Mellon Research's business model is to provide consulting and venture capital advisory services to microcap public and private companies. In this connection, it seeks to provide advice regarding corporate structure, financial and marketing to help its client companies position themselves to raise capital, go public or otherwise carry on their business plans. Mellon is not an investment banking firm or a registered broker-dealer and it does not provide securities brokerage services.
Securities and Exchange Commission (SEC) Investigation
The SEC is conducting a formal investigation of the Company. The Company and Mario Pino, its sole officer, director and a principal shareholder, intend to cooperate fully in such investigation. The SEC's investigation has recently commenced and the Company can offer no assurances or predictions regarding the outcome of such investigation.
Earnings Forecasts and Valuations
The Company has retained an independent public accountant, who is conducting an audit of its results for 2004. As a result, it will not know its operating results for fiscal 2004 until the audit is completed. Further, the Company will not issue any forecasts regarding its financial results for 2004 or 2005. It disclaims and withdraws any prior forecasts of operating results.
The foregoing policy of the Company not to forecast also pertains to any past announcement of levels of fees or the value of securities in companies received for consulting services or otherwise or received in exchange for stock of Mellon. The Company disclaims and withdraws any prior forecasts of the amount of fees received or to be received or the value of the stock positions that it holds in other companies, including, but not limited to, Intellective Communications, Inc., Pearl Asian Mining Industries, Inc., Wall Street Securities, Inc., Equity Retirement Distributors Canada, Ltd., Western Pacific Minerals, Ltd., and Riverbank Investment Corp.
Value of Mellon Research and Offers to Sell the Company
The Company is not engaged in a tender offer with any third party and it has never solicited a tender offer for the Company at any price per share from third parties. There have been no bona fide or written offers from any third party to make a tender offer for the Company at any price per share, including but not limited to $.05 or $.10 per share.
Dividends
Mellon Research is required to comply with both federal and state securities laws. These laws impose certain requirements relating to distributions or dividends to shareholders. These regulatory requirements apply to the shares of Wall Street Securities distributed to the Company's shareholders as a dividend. The shares of Wall Street Securities may not be traded in the public market until the Company satisfies such regulatory requirements. The Company is analyzing whether or not its business model of distributing shares of subsidiaries, such as Wall Street Securities, or other securities in its portfolio to its shareholders is feasible under present circumstances.
Transactions/Projects
The Company has terminated its relationships with the following companies without the rendering of any services or receiving of any compensation: SurfNet Media Group, Inc.; a client in Cabo San Lucas, Mexico relating to a real estate development; and Deal Flow Advisors, LLC. Further, it is not pursuing any acquisition, license or similar arrangement to obtain the Kidder, Peabody name. Neither the Company nor Club XTReme plans to open clubs or have online gambling or sports betting.
Financings for Mellon
The Company is not raising any significant investment capital from third parties nor has it done so. It is also not offering to sell positions in the Company to any third party, including major money center banks or other institutional investors. Specifically, the Company never received a bona fide or written offer from a third party to invest $10 million in the Company.
Share Buy-back Program
While the Company recently purchased approximately 70 million shares at or about market prices, it has suspended all buy-back activities at this time.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based largely on Mellon Research's expectations or forecasts of future events, can be affected by inaccurate assumptions and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the Company's control. Therefore, actual results could be differ materially from the forward-looking statements contained herein. A wide variety of factors could cause or contribute to such differences and could adversely impact revenues, margins, profitability, cash flows and capital needs.
SOURCE: Mellon Research, Inc.
Morgan Phillips, Inc. Ray Larson, 918-269-6366 Morgan-Phillips@cox.net
ouch!!!
-------------------- Marty When I was born, I was granted a visitors pass to earth. I will enjoy everyday until it has expired. You should too ;) Posts: 1740 | From: NJ, USA | Registered: Oct 2004
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Are you going to buy glassman? Hmm i think same...but not yet decided *LOL*
-------------------- Do not believe in anything simply because you have heard it or it is spoken and rumored by many. But after observation and analysis,when you find that anything agrees with reason And is conducive to the good and benefit of one and all, then accept it Posts: 305 | From: NJ | Registered: Jan 2005
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Yea, but you don't REALLY know for sure what's going on. LOL
quote:Originally posted by Upside: Read the press release Bottomliner. It pretty much says "we've been lying all along".
-------------------- A million seconds is 13 days. A billion seconds is 31 years. Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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the company says we have been yanking your chain for months & ppl are buying at .0005...i thought cmkx was the only kool-aide bunch out there
-------------------- "keep your stick on the ice & your cup firmly in place" Posts: 3651 | From: Algonac, MI. 48001 | Registered: Jun 2004
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This triggered many people's limit buys at this range. Either that or Mario found a way to buy cheap shares for that buyback...LOL.
Posts: 106 | Registered: Aug 2004
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quote:Originally posted by Upside: Read the press release Bottomliner. It pretty much says "we've been lying all along".
UP, i carefully read and re-read his PR's, they were not writed by a idjit....they IMPLIED a lot of things...just like you expect from a pinkie trading in this range...
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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holy chit this hasnt been my week. not even worth sellin at this point. ya know, ya step away for a bit and... ~BB
Posts: 2651 | Registered: Apr 2004
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People were warned on this stock, prrm, and cmkx. No one wants to listen. These stocks are micropennies for a reason. I remember several post were people listed this CEO doing this exact same thing. Good luck to all. Hope you can re-coup part of your money.
-------------------- Invest with your brain not with your heart. Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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Yes. I LOVE MY CASH..ITS ALWAYS WORTH ... :-)
-------------------- Do not believe in anything simply because you have heard it or it is spoken and rumored by many. But after observation and analysis,when you find that anything agrees with reason And is conducive to the good and benefit of one and all, then accept it Posts: 305 | From: NJ | Registered: Jan 2005
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quote:Originally posted by Ric: People were warned on this stock, prrm, and cmkx. No one wants to listen. These stocks are micropennies for a reason. I remember several post were people listed this CEO doing this exact same thing. Good luck to all. Hope you can re-coup part of your money.
problem is Ric, so many people warn using BS instead of facts....so everybody gets labeled basher...
people have to realise that these stocks aren't safe to HOLD... this is no different from KMART (i got shafted) or global crossing or PSINET or MCI....and ALL of those came with a recomendation from one of the most CONSERVATIVE brokerage houses in the country...
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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Marios ties with the DOM did it for me. Luckyily I got out a bit back. Sorry to see it end like this.
Posts: 768 | From: Ingland | Registered: May 2004
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quote:Originally posted by Ric: People were warned on this stock, prrm, and cmkx. No one wants to listen. These stocks are micropennies for a reason. I remember several post were people listed this CEO doing this exact same thing. Good luck to all. Hope you can re-coup part of your money.
problem is Ric, so many people warn using BS instead of facts....so everybody gets labeled basher...
people have to realise that these stocks aren't safe to HOLD... this is no different from KMART (i got shafted) or global crossing or PSINET or MCI....and ALL of those came with a recomendation from one of the most CONSERVATIVE brokerage houses in the country...
-------------------- Invest with your brain not with your heart. Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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