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Author Topic: MODC: 509% revenue increase, low float, & looking for acquisitions!
binsleep
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northwoods,

I like you. You make me think.

Sure, you're an *$$hole, but at least you raise questions that force me to do more research. While I don't necessarily agree with your tactics, it appears to be a convenient way to attain information.

Keep up the great work!

Hugs and Kisses,

-bin

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msholdem
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bin, i will be asking more questions next week. I may even post my 'theory'.
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WarpedMind
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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.

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binsleep
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The reality is:

The more questions we can get answers to, the better off we'll be as shareholders. Northwoods, although I tried to be humorous, I really do appreciate you having the cajones to ask the tough questions. In being objective, it is easy to lose sight of potential pitfalls.

Most of the information obtained from the company is going to be positive. After all, part of their job is to sell the company. The trick is using this information for what its worth. Don't shoot the messenger.

Frankly, this is a higly speculative stock that has not performed well at all in the past. It is going to take a LOT of convincing, both to the medical world and the MODC shareholders, to make this thing work.

I look forward to your theory, and I hope that you are able to share some insight that we can all use to make a better decision.

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msholdem
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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.

'Pursuant to Regulation FD, the only information that the Company may release to a shareholder (or any other, for that matter) is that which is currently generally available to the public'.


Your 10/18 post indicates otherwise:

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.

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WarpedMind
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Whatever floats your little boat.

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msholdem
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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.

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binsleep
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The 8K hasn't been filed, but I'm wondering if they are holding off because of the "E"

I'll see what I can find out.

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msholdem
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bin,

I called the company transfer agent (Jersey Transfer & Trust,973.239.2712) this morning to ask how many OS. First i was told that it was not their policy to disclose that info, then i was told that they were not authorized by the company to disclose that info. Do you know where i can get the info?

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msholdem
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bin,

I was told by someone here that when the mm (arca) is on the ask,(as they are today and several times last week) that dilution is taken place. Do you know if that is true? Do you know the status of the SB-2?

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msholdem
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I just found out the status of the SB-2. It is not effective yet.
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binsleep
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The last known number was on the SB-2 filed on August 18th:

2,515,782 as of July 1, 2006

Unfortunately, I don't know where to get the latest OS count. AFAIK, the company is only releasing this information in normal SEC filings.

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msholdem
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bin,

What do you think of the Oct 11th pr? Do you agree or disagree that '$100 Million in Revenue Projected' is misleading and made in bad faith?

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WarpedMind
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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.

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msholdem
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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.

The Oct 11 pr '$100 Million in Revenue Projected' is based on the U.S. market only. 'It must be noted that our predictions only cover the U.S. market. The international market is much larger and will be part of the company's initial marketing efforts alongside the U.S'.

From the Knobias interview released 10/16: 'The Company plans to initially target the international marketplace, where expedited regulatory procedures provide a more favorable timeline for entry into the market'. Also in this interview was the same $100 million figure.

Why did the MODC give revenue projections for the U.S market when they knew that they would 'initially target the international marketplace'?

One of the first questions Dr. David Rasnick was asked in the interview October 9, was, does the cancer detection system need FDA approval? His response was, It did not require FDA approval at this time, but we may go that route in the future.

Dr. David Rasnick's statement leads me to beleive that it does not require FDA approval at this time because the system is not going to be marketed in the U.S, at least anytime soon and that the company knew that prior to doing the 10/16 interview and releasing the 10/11 pr.

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msholdem
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SECURITY DELETIONS
DL DATE SYMBOL COMPANY NAME EFFECTIVE DATE/COMMENTS
10/24/2006 MODCE Modern Technology Corp. Common Stock 10/25/2006 Failure To Comply With NASD 6530; Added to NBB (MODC) **

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jimmer
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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.

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richone
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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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WarpedMind
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Jimmer,

No need to start flailing.

I have a large share (more than I can afford to lose) in modc and I'm suffering like everyone else. Don't go accusing me of anything... I bought into modc like everyone else and have been in on the ups and downs.

Fact is, I do have certain people I get info from and I try to share what I can. As for the accuracy of the info, I just share what I know. Don't even start pointing fingers at me.

By the way, Northwoods... you have some good questions. At first, I thought you were just a basher, but now I'm starting to see that you raise some good legitimate questions that need answers. I hope someone can get some answers... I'll try.

And for the record, I'm not happy about this latest move either.

Hopefully this is clear enough.

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SEIZE THE WEB! - CarpeEM.com
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WarpedMind
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Just an FYI, for what it's worth.

My source claims that there is some news coming. The whole pink situation is being addressed, and the 10k is to be done in a day or two.

Don't shoot the messenger. I can only hope the above is accurate. If it isn't, what can I say... I just spread what I've been told!

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msholdem
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Is MODC in default of the terms of the 'callable secured convertible notes' by being on the pinks?
Or are the pinks considered an equivalent of the OTCBB?

This is from an 8K: Article III. EVENTS OF DEFAULT

'Delisting of Common Stock. The Borrower shall fail to maintain the listing of the Common Stock on at least one of the OTCBB or an equivalent replacement exchange, the Nasdaq National Market, the Nasdaq SmallCap Market, the New York Stock Exchange, or the American Stock Exchange'.

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msholdem
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Net loss for year ending June 30, 2006 is (7,763,950)

Loss per share basic and diluted (5.07)

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WarpedMind
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Yowser.

Sigh.

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SEIZE THE WEB! - CarpeEM.com
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riki
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Interesting to note he tripled his salary to $297K.

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When I read about the evils of drinking, I gave up reading -P.Hourning

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msholdem
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Does anybody here think that AW cares about the shareholders?
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Sally77
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Source: Modern Technology Corp
Modern Technology Corp Reports $11,472,254 in Revenues for Fiscal Year End June 30, 2006 Versus $3,078,145 for June 30, 2005

OXFORD, Miss., Oct. 30, 2006 (PRIMEZONE) -- Modern Technology Corp (Pink Sheets:MODC), a diversified technology development and acquisition company, announced today that during the fiscal year ended June 30, 2006 it generated revenues of $11,472,254 versus $3,078,145 for the fiscal year ended June 30, 2005. It also reported assets of $4,859,410. For complete details of the company's Form 10K-SB filing, please visit the SEC's website at www.sec.gov.

Anthony Welch, chairman, said: "We have delivered the rapid revenue growth as promised. We will shortly declare stock dividends, also as promised. We encourage investors to carefully inspect our newest acquisition. We believe the AnuCyte cancer detection system will propel our revenue and profit results well beyond our expectations of only a few months ago. Shareholders should expect frequent updates and rapid progress on the establishment of our diagnostic lab and sales efforts under our new operating arm, Insight Medical Group. We firmly believe the AnuCyte system will quickly obsolesce all other cancer tests currently in existence."

AnuCyte 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 AnuCyte 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, Phd. The technology and chromosomal imbalance theory is the result of 45 years of combined cancer research by Dr. David Rasnick, Phd. and Dr. Peter Duesberg, Phd., 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

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msholdem
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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.

Did MODC even close on this yet?
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msholdem
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Net loss applicable to common stockholders, 7,866,659.
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WarpedMind
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Closed up 50% today.

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SEIZE THE WEB! - CarpeEM.com
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msholdem
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Is MODC going back to the BB or staying on the pinks?
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msholdem
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Q out Friday. More losses, more OS.
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hbomb
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The net loss for the three months ended September 30, 2006 is attributable primarily to expenses incurred as part of our reorganization efforts and activities related to locating and securing new portfolio companies.

During the three months ended September 30, 2006, expenses amounted to $1,604,466, attributable mainly to general and administrative expenses of $498,201 salaries, benefits and related taxes of $387,362, and interest expense of $711,683. For the three months ended September 30, 2005, expenses amounted to $1,127,723 consisting of general and administrative expenses of $671,145, salaries of 375,570 and interest expense of $81,002.

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riki
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With the filing of the Q will we move out of pinkie land?

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riki
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These are great prices to buy at. Got filled at .055. Though I hold a number of shares long, this stock has been good to me trading other shares in the .05 - .09 range the past few months.

Its great to live in a country that allows us the opportunites and the freedoms this country gives us. For that and any many other things, I give thanks.

Happy Thanksgiving and good trading to all.

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When I read about the evils of drinking, I gave up reading -P.Hourning

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msholdem
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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.

When are these shares going to be sold?
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