posted
this stock is a huge disappointment. i'm beginning to think there is something behind the scenes that we don't know about. this stock was up more than double back when it had the problems we knew about.
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posted
I will grin when I see this at .07 I will smile when I see this at .15 I will jump for joy when I see this at .25 I will buy the first round when I see this at $1.00
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1.00 is very possible by mid jan maybe sooner...when they announce the investment bank that is backing this deal that is when this stock will move..then ag pro get aquired and the details are out on that. then the application to the county...then an update on sagoma aqusition which may happen by mid jan. approval of the bonds for 10million dollars by mid jan..the def 14c out by mid jan...the 15c filing this month. not to mention the democrates are in office so alternative fuels will be big and are just getting started. once they aquire ag pro there will be major newspapers and online article the loi got 3 articles when they start to build the bio disiel plant in new york the (mecca of the financial industry) buyers will scoop up this stock. plus remember that the float is 45 mil of which half is held by some solid investors...
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Honestly, there isn't much new in the SB-2 but it does further us down the path towards moving up to the OTCBB.
The paragraph below I thought worth highlighting.
quote: In July 2006, the Company entered into a Securities Purchase Agreement with several investors whereby the Company would issue an aggregate of $1,200,000 in 6% convertible secured notes and warrants to purchase up to 10,000,000 shares of the Company’s common stock. The notes are due on July 28, 2009 and may be converted into common stock at any time prior to maturity at the option of the holder. The loan may be converted at a conversion price which is the lesser of $.20 or a discounted average trading price of the shares (the discount being dependent on the meeting of certain registration conditions). The holder is limited in the conversions prior to maturity date to the greater of $60,000 per calendar month or the average daily dollar volume calculated during the ten business days prior to conversion. In addition, the agreement puts limitations on certain types of transactions. In July 2006, the Company closed on the first portion of the notes aggregating $400,000. The Company will receive an additional $400,000 upon the filing of this Registration Statement and an additional $400,000 immediately after effectiveness.
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Maybe some folks only looked far enough to see the 30mil share estimation and thought it was dilution without understanding the deal?
No clue. The loan is a good thing IMO. This is funding we are tking about which is a good thing, right? We need capital to get all these ideas off the ground. Plus, it gets us one step closer to being fully reported and back on the OTCBB.
BF
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If anybody is trying to play the bottom on this stock they are safe only so long as pressure stays off. When momo hits this stock moves fast and strong and those who weren't prepared are going to get royally screwed!
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posted
nothing will really happen until 2007. michelex is in a decent posistion they should be getting ready to apply for the otc and should lower the authorized those things will help. also ag pro should be aquired soon and then there will be the application for the bonds...not bad...so the next two weeks shouldn't be that great but 07 should have us looking better. we should hear something about paying off wells fargo..they have untill the 24th paying them off is a big step...
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It's alive...It's ALIVE!!!! OK...so at .035 maybe it is just wiggling it's finger...still good to see some life here as the New Year approaches.
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posted
Michelex Corp. Signs LOI Extension in Ag-Pro Bio-diesel Transaction via COMTEX
January 4, 2007
MASSENA, N.Y., Jan 4, 2007 (*********wire via COMTEX News Network) --
Michelex Corp. (Pink Sheets:MLXO) ("Michelex" or the "Company"), a plastic manufacturing company with its offices in Utah, and an audio record production group located in New York, announced today that it has signed an extension to the Letter of Intent to acquire Ag-Pro, Ltd. allowing it the extra time needed to raise additional capital to complete the Ag-Pro Bio-diesel transaction. If the transaction is completed, it will put the company in the emerging bio-diesel market in the U.S.
The Company is also very excited and proud to announce that all its obligations with Wells Fargo Business Credit ("WFBC") have been satisfied after a final payment in the sum of $256,874.80 that was made on December 15, 2006. WFBC, in an email to the company confirmed that once they received this final payment "it would clear the balance in full." As a result of the transaction, the company received an aggregate amount of $728,000.00 in debt reduction, which should allow the Company to achieve a profit in the fourth quarter of 2006.
Thomas Gramuglia, CEO and President of Michelex Corp, stated: "We hope that this ending of the WFBC chapter in the company's history will bring good fortunes for us in 2007."
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
people are waiting to see the AS reduced (it's now at 1 billion - rumor has it it will go down to 300 million) + they wan't to see the biofuel deal finalized + OTCB
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While I agree with you, I do remember last year this stock was at .10 a share with all its problems. I'm just trying to find some logic with why people bought then and not now.
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