posted
MASSENA, N.Y., July 26, 2006 (PRIMEZONE) -- Michelex Corp. (Pink Sheets:MLXO) "Michelex" (or the "Company"), a plastic manufacturing company and an audio record production group announced that it was successful in purchasing the manufacturing line that produces the 5.2mm ultra slim CD jewel Box. It took delivery of this line at its Massena, New York facility last month. The installation process is ongoing and it is anticipated that production will commence next month. As previously stated, this production line is expected to increase revenues by up to $300,000.00 per month
Michelex also announced that it restarted production in its New York facility on July 10, 2006 and has been recalling former employees. [B]The response from customers has been positive and as a result, a third shift was implemented on 7/24/06 to meet customer delivery expectations.[B/]
The Company intends to put out a press release in the near future to update its shareholders on the status of their financials and progress it is making to get it [B]re-listed on the OTCBB.[B/] About Michelex Michelex Plastics -- Founded in 1972, is a manufacturer/importer and distributor of C-Zero's, Cshells, Norelco Boxes, Jewel Boxes, DVD Boxes and other related specialty plastic products. The company has manufacturing facilities and distribution points in New York and Salt Lake City. The company employs people who are committed to the customers and to the operations of the business. Michelex offers a full range of products through its divisions to make it a one-stop shop for its customers. Michele Audio -- Audio duplication services and an exclusive rights holder of a large catalog of music and spoken word recordings. Michelex Media Products -- Producer, supplier and distributor of paper multimedia packaging products, also offering complete fulfillment services to its customers. Safe Harbor: This release may contain forward-looking statements within the meaning of the Private Securities Litigation reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company's SEC reports. CONTACT: Michelex Corp. Thomas Gramuglia (315) 769-6616
Posts: 59 | From: chicago | Registered: Apr 2006
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posted
hopefully we will get more business down the road. They started a 3rd shift to meet demands. maybe more contracts in the pipeline. maybe we can see .50 by years end. GOOOOO MLXO!!!!
Posts: 806 | From: CT | Registered: Dec 2005
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posted
So tell me what is going on with this stock right now gents. Seems this has taken a little tumble since that news was announced. What are your expectations?
-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
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posted
Michelex Corp. has signed a contract with Sony Corporation Thursday July 27, 14:24 pm ET
MASSENA, N.Y., July 27, 2006 (PRIMEZONE) -- Michelex Corp. (Other OTC:MLXO.PK - News) ``Michelex'' (or the ``Company''), a plastic manufacturing company and an audio record production group announced that it has signed a one year contract with sony to supply jewel cases. This contract will bring in a revenue of 3 million dollars.
About Michelex
Michelex Plastics -- Founded in 1972, is a manufacturer/importer and distributor of C-Zero's, Cshells, Norelco Boxes, Jewel Boxes, DVD Boxes and other related specialty plastic products. The company has manufacturing facilities and distribution points in New York and Salt Lake City. The company employs people who are committed to the customers and to the operations of the business. Michelex offers a full range of products through its divisions to make it a one-stop shop for its customers.
Michele Audio -- Audio duplication services and an exclusive rights holder of a large catalog of music and spoken word recordings.
Michelex Media Products -- Producer, supplier and distributor of paper multimedia packaging products, also offering complete fulfillment services to its customers.
Safe Harbor:
This release may contain forward-looking statements within the meaning of the Private Securities Litigation reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company's SEC reports
Posts: 59 | From: chicago | Registered: Apr 2006
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posted
sorry guys...i got duped...looks like the pr was bogus...the p & d crowd never seems to sleep
Posts: 59 | From: chicago | Registered: Apr 2006
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posted
Wondered about that. Seemed odd for a couple different reasons.
Good movement today. I might just get back in on this one.
The Bigfoot
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posted
Nice close. If this looks up tomorrow I'll try to find a good entry. Have said it many times. This is a .10 stock.
The Bigfoot
-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
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posted
Ask isn't being controlled by the Bid today. Good sign. Would be nice to close that spread a little so we could get some real volume going but that will probably come near EOD if this holds true to form.
Not bad at all.
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-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
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-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
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posted
Take a look at the chart with a one year timeframe.
We are in a definate uptrend that has been going since the begining of the year.
Our low resistance level right now seems about even with the current 50MA at .044 and our upper resistance point is .09. We've bounced off that twice now.
The RSI and MacD show a bullish turn and if we contiune next week the ADX should have a clear signal as well.
My guess is that we are going to rise over the next week to bounce off of .09 one more time. A drop down to the bottom resistance which should be around .055 at that point and then a breakout above .09 forthcoming.
This could change if they put out that financial update sooner than expected. I am thinking that PR (if it shows healthy improvement) is what is going to break the .09 wall.
Bigfoot
-------------------- No longer eligible for government service due to lack of tax issues. Posts: 5178 | From: Up North | Registered: Dec 2005
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This company manufactures cd cases. Not terribly exciting but they have a proven record of contacts and sales.
If you look at the two year chart you will see that around 2005 they started a long downtrend out of the .20-.30 cent range.
If I am correct, my take on it is that they expanded too quickly and couldn't keep up. They continued to have problems with two different loan attempts that went poorly.
There are two things driving this stock back up to previous levels.
#1) They are finally making forward movement financially and have though this tough period been able to continue production and win contracts.
#2) The share structure hasn't changed much. The owners of this company didn't dilute to fix their financial problems which is a huge plus in favor of the management team.
Bear in mind. In February the company did increase it's A/S count from 100 Mil to 1 Bil. However, there hasn't been dilution that I have seen and the O/S seems to be unchanged at under 50mil shares.
There is also a rumor of a 7 Mil short position that happened using 7 mil shares issued to secure a loan. If the rumor is true MLXO dropped dealings with the loan company and bought out those 7 Mil shares themselves to force the loan company to cover. (I don't know that this is true)
Look to the recent PR's and you will see that this company is getting back on track which should translate to a return of the pps to the 20-30 cent range.
The Bigfoot
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posted
MLXO is going up from here , anticipated news today regarding divedend i heard from a good good source
Posts: 193 | Registered: Jul 2006
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hadn't heard anything about that. Would be nice if true
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posted
I heard about it from the ceo's uncle , he works with mlxo , he was talkin to a good source The dividend is with a company called XL or something not sure , its an ethanol company on the big boards
Posts: 193 | Registered: Jul 2006
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posted
i've been in this a while and am pretty plugged in...i've heard NOTHING about a dividend...this is a pump and dump scam
Posts: 59 | From: chicago | Registered: Apr 2006
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