Chart-wise we have broken our upper resistance barrier. IF we are able to maintain support and stay above .086/.088 range for the rest of today and tomorrow then it should become a weak line of support for us that can be used as a fallback should a reversal come before it drops further.
My thoughts? No volume - back down. some volume - stay above .08 good volume - oversold and pop above a dime
But you knew that already didn't you?
The Bigfoot
-------------------- No longer eligible for government service due to lack of tax issues.
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posted
i can't believe there isn't more interest in mlxo on this board, especially with all the action in the last couple of weeks...this, IMHO, is going to at least .5 near-term
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- Wells Fargo - Production - return to OTCBB - rumored surprise PR (even without it ...)
From HSM :
Let's not Forget that their are deals in the works right now also, A Merger with Sagoma Plastics, Michelex's only US Competitor!!! If the two companies Merge, look how HUGE that will be? And the Rumors flying around about other things? I know from Talking with Tom G. that he is Sick and tired of this Manipulative Penny Market, and as far as getting relisted on the OTCBB, that is only a stepping stone, I think Tom wants off the OTCBB just as fast as possible too and get listed on the AMEX or something where things like Naked Short-Selling, and this Manipulation so common on the OTCBB, is watched much more closely on the bigger boards like the AMEX, Michelex is a High enough Caliber Company to get on the AMEX, especially with a Merger with it's only competitor and some Bigtime Heavy Hitters Investing in this Diamond in the Ruff. When things like these begin to happen, forget the chart and the technicals! Throw them out the window because Mergers and big Investments change everything, I know from Talking with Tom that he has surrounded himself with some serious Professionals in the Market with the Full Intention of Getting Michelex up above all this Penny Market Manipaulation and in a place where they can Operate in Full Production and be a VERY Profitable company with the Stock trading at it's Fair Market value without having to worry about some offshore Hedgefund trying to drive the Share Price into the ground because it's trading on the Pink or OTCBB where this Manipulation runs Rampant. Remember, This company began in 1972 and has had 28 YEARS OF PROFIT!!! BEFORE BEING BROUGHT TO IT'S KNEES AND CLOSE TO BANKRUPTCY ALL BECAUSE OF TOXIC FINANCING FROM WELLS FARGO AND CORNELL CAPITAL!!! Now the Toxic SOB's are gone, and Michelex WILL RISE BACK TO WHERE IT SHOULD BE AND EVEN BIGGER THAN BEFORE WITH SOME HARD LEARNED LESSONS UNDER IT'S BELT. MLXO WILL BE TRADING IN THE $$$DOLLARS BEFORE YOU KNOW IT, I'D BET MY HOUSE ON IT.
Other info from HSM :
Recent PR's : Michelex Corp. Takes Delivery of Equipment/Restarts Production PrimeZone Media Network (Wed, Jul 26) essentially: gets new machines for jewel cases that will add 300K monthly revenue or 3.6M annually, has hired back workers, restarted production, and added a 3rd shift to meet demand (24 hr a day production!)
Michelex Corp. Continues to Make Progress PrimeZone Media Network (Fri, May 12) essentially: Wells Fargo must be paid off before Aug 31, but MLXO expects to do this much earlier ( confirmed they are paid off and this is the news we expect monday), CEO Tom G says "share price undervalued, we will be going back to OTCBB as soon as audited financials are completed"
Michelex Corp. Announces Termination of Convertible Debenture with the Commander Fund PrimeZone Media Network (Wed, Apr 19) essentially: MLXO is done with Cornell BS, and share reduction filed soon after
Michelex Corp. Announces It Has Reached a Settlement With Wells Fargo PrimeZone Media Network (Wed, Apr 12) essentially: settlement reached on the amount owing, resulting in a net gain for MLXO of about 600K compared to original amount, Tom G says that paying off Wells is necessary for company to return to "pre - 2004" levels (this means big revs, and pps that at one time was in the $1.50 range!! )
Michelex Corp. Announces Recent Events and Occurrences PrimeZone Media Network (Wed, Mar 15) essentially: the plan to pay off Wells is announced, Tom G says the payment would "allow revenue to return to pre - 2004 levels" , announcement that sales for 2007 expected to grow to 21M, or 30M + if merger with Sagoma plastics takes place, Sagoma plastics merger possiblity is announced, both CEO's says this is probably a good idea, MLXO has hired a firm to help in auditing etc to get them back on the OTCBB
Most Recent Share Structure (no dilution whatsoever has been done since this or will be done in the future) Share Structure Per Transfer Agent 03-16-2006 Authorized:.. 100,000,000 Outstanding: 84,543,537 Restricted:... 57,170,120 Float:........... 27,373,417
Short Situation: There is believed to be an 8M Short position due to restricted shares illegally being sold into the float. The brokers responsible must purchase these back on the open market. These will not show up as a short position on the numbers presented by websites that list this kind of info as they are not short sales in the traditional sense, but the effect will be the same when they are to be repurchased. (Money please clarify this for me if you get a chance!)
Company Phone Numbers; Massena, New York: 315-769-6616 and/or 2448 Thomas Gramuglia President Ext. 413 Salt Lake City, Utah: 801-596-0166 Michelex Audio:........ 315 769-2448 Michelex Trimark Canada, Inc. info*michelextrimark.com Tel.: (514) 343-9389 Toll Free: 1-800-363-8802
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posted
Michelex Corp. Meets Deadline -- Completes Refinancing via COMTEX
August 7, 2006
MASSENA, N.Y., Aug 7, 2006 (PRIMEZONE via COMTEX News Network) --
Michelex Corp. (Pink Sheets:MLXO):
"Michelex" (or the "Company") a plastic manufacturing company and an audio record production group announced that it has completed the second and final part of refinancing to eliminate its obligation with Wells Fargo. The Company, through a deal signed with Utica Leaseco, LLC and Ihop Leasing, LLC d/b/a Omega Leasing, LLC, has paid $1,150,000.00 to Wells Fargo. Wells Fargo has agreed to give the Company until December 24, 2006 to pay the remaining $250,000.00 thus resulting in a total savings to the Company of $703,519.67.
The Company also announced that it completed a financing with the NIR Group, LLC, that will provide the company with $1,200,000.00 in additional working capital over the next 120 days. The Company has already received the initial $400,000.00 in funding. This, together with the money from Wells Fargo, will help to ensure the Company's return to its place as a major US supplier in the optical media packaging industry.
Mr. Gramuglia, President and CEO of Michelex Corp. stated that "I would like to thank all the long term shareholders, customers and employees of the Company for their continuous support during this refinancing period."
The Company is in process of working to complete their audited financials by mid-September and the filings of the 2QSB's, the 10KSB and the SB-2's will all be filed simultaneously to get it re-listed on the OTCBB.
The Company reported that production in New York was running smoothly and sales are steadily increasing. It is still in negotiations with Sagoma Plastics with regard to the potential merger of the two companies.
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.
posted
This stock always surprises me. They release a good PR and the price goes down. I dont understand how a real company with a long history and real assets does not attract more attention.
-------------------- If you made money, it was a good trade
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posted
I'm with you Cas, here is a company that always gives us facts and dates, (like filing target date of mid-september) has a low float and real assets and yet other stocks like PLNI who brokers like ameritrade wont touch get more volume? It just doesnt make sense to me.
-------------------- If you made money, it was a good trade
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posted
banah...first your pumping, saying shakerzzz is involved (which they weren't)...and now your bashing, after a pr that signals a very bright future...sounds like you're trying to spook people out of their positions so you can pick up cheap shares...
posted
banah...do you really expect someone to believe that? you pump to try to get your stocks moving then bash when it doesn't work out...you've never provided dd and have no credibility...i like this stock so please move on and f*ck with something else
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posted
I'm here waiting too. Sometime this year this baby is gonna let out a PR saying everything is paid and they have new contracts signed and are moving to OTCBB then it is gonna shoot up very fast.
-------------------- If you made money, it was a good trade
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posted
bigfoot i think they are going to start filing the 10k and q's pretty soon..the financials are with the auditor so i think the mid sept deadline is a lock..i think we start toward .20 and maybe beyond..what i do know is the float is tiny...28mil of that 20mil of that is held 13mil is held by a group that is really long on this one. so figure the float to be around 8mil which explains why this trades somewhat rough...good luck to all
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