This is a dog I've been holding for some time now, bought in originally around .08 and averaged down later around .03.
I fully expect this to stay where its at till there is a PR, but I figured I'd tell people to watch it. Normally it's a low volume stock, but someone has been interested the last few days.
Posted by g-invest on :
Okay, I told you just to watch it, which one of you bought? And why did you buy so much?
Posted by g-invest on :
And what do you know that I don't? Did they officially can Cornell Capital after they shorted them, or did they win the lawsuit against the market manipulation?
The thing I always liked about Michelex was that its CEO and management never talked about market manipulation in PRs, only over the phone to individual investors.
I'm really interested in seeing how this stock goes today. They (ppl on here) were saying before that it would hit .20 once they got in their latest audited financials and got Cornell's claims dismissed. I'm sure the Amex would love to have them back since they only just left it a few months back.
Plus I guess the DVD cover sales were doing really well. It's likely that a DVD manufacturer just bid for them entirely. If that's the case it could be pre-announcment rumors fueling this.
Posted by g-invest on :
This is why it rose on Friday: The TA confirmed for someone on IHUB what the O/S were, and MLXO has not diluted its stock apparently. That means all outstanding shares may still be worth what they were at the beginning of year, which is in the .08 range. Still, MLXO had to have paid for it somehow, so we'll have to hear from them on it soon.
Transfer Agent: Colonial Stock Transfer Company, Inc. Salt Lake City, UT 84111 Tel:. 801-355-5740 Fax: 801-355-6505
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 Investor Relations:... 832-689-4922
Posted by g-invest on :
Posted by maumee river rat on :
Wow !!! Could it be possible that there is some life in this old dog after all???
I have been sitten' on this so long in a different account, that I can't remember how much I have or at what price I bought it at! Guess I better go look, huh!! lol
Posted by g-invest on :
Yeah, I know what you mean. I've been in it for over six months. It's always had a low enough O/S count that it flew into the .50 range twice within a year or so. Cornell Capital just kept doing that to the company over and over again by funding them based on dilution/PPS and etc, but it looks like Michelex has decided they don't want to go that route anymore. Like I said before too, the debt they took on before was in the form of a loan, the last payment of which is due next month. After that, they'll be out of that high-interest rate loan and probably back to a more affordable setting.
I'd like to hear from someone about how the company is doing though. I wonder if Thomas has plans for a PR or something.