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.
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!
Posts: 953 | From: Southwest USA | Registered: Nov 2005
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I'll tell her - but I don't think they have wireless broadband on the beach yet Posts: 953 | From: Southwest USA | Registered: Nov 2005
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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'!
-------------------- Life is like a roll of toilet paper. The closer it gets to the end, the faster it goes.
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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!
Posts: 953 | From: Southwest USA | Registered: Nov 2005
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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.
Posts: 807 | From: Upstate NY | Registered: Dec 2005
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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?
Posts: 807 | From: Upstate NY | Registered: Dec 2005
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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.
Posts: 293 | From: Virginia | Registered: Apr 2006
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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
Posts: 69 | Registered: Jun 2006
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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. Posts: 1711 | Registered: Oct 2005
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Looking forward to seeing Rally Monkey coming out of retirement. It's been a long time...
Posts: 807 | From: Upstate NY | Registered: Dec 2005
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not a single share sold in the entire day? this seems a littel strange..........
-------------------- If it walks, talks and look a like a duck, it is probably nothing like a duck at all. Posts: 41 | From: Houston | Registered: Nov 2005
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quote:Originally posted by jimmer: not a single share sold in the entire day? this seems a littel strange..........
Most people holding this stock paid a lot more that it's currently selling at. They are holding long term. PPS is to low for most to sell at currently. JMHO.
Posts: 1289 | Registered: Dec 2005
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Same here. I think when they put out another PR or once some investors realize the potential of this stock and how quickly it can move, it'll be a good day.
Posts: 293 | From: Virginia | Registered: Apr 2006
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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.
Posts: 1351 | From: Phoenix Az | Registered: Nov 2005
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He better get something put together soon, and not just some petty acquisition. It's going to take something big to pull this out of the crapper. Even a deal like HRVE wouldn't be enough. I hope his past performance is not indicative of the future.
Posts: 69 | Registered: Jun 2006
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quote: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.
I've Talk too This one, I've Talked to That one I've even spoken too the almighty Himself and they all say the same thing.
If You lay Down with Dogs You get up with Flies.
I Can't beleive that you are still spinning the 'AW' Said this BullSh&&T. You are either a Pathological Liar or You have something up your sleeve when it comes too 'AW'. Either way YOU and everyone elce that is still thinking or "should I say Talking" about an "AW' Turnaround is Just spining the Truth.
This stock is a Perfect example of a DOG. There entire Management Team as well.
Posts: 541 | From: Virginia | Registered: Nov 2005
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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.
Posts: 953 | From: Southwest USA | Registered: Nov 2005
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