Microelectronics Technology Co. (fka MELY)

[Helter Skelter]

The float is over a billion. So is the OS.

That's my educated opinion. And it is spot on.

The TA is gagged for a reason.

This one note, here, Direct Capital Group Note #10...is convertible into a little more than 4.6 BILLION shares.

Whether relying on Regulation D, Rule 506 or Regulation D, Rule 144, the restrictive period for these shares is 6 months. You'll notice that the 6 months for these 4.6B shares, plus change, of Note #10 has elapsed.

Shares don't need to be sold into the market to enter the float. They just need their restrictive legend to be removed. Which can be done in minutes.

See the link, below, for more notes, more shares, billions and billions and billions of shares...

Link > Notes #7, #8, #9, #10, #11, #12, #13, #14 = 12,721,500,000 shares

12.7 BILLION shares.

Looking at the Notes...it appears that only Notes #13 and #14 haven't passed the 6 month restrictive period. One elapses June 1st, the other, Note #14, July 1st. 1.6 billion shares each. An additional 3.2 billion shares.

So...it looks like 9,521,000,000 (9.5B) are eligible to have their restrictive legends removed (if not done so already) and enter the OS/float (12,721,500,000 - 3,200,000,000).

Here's Note #10 (the bold, red, calculation was added to the quote by me):

Direct Capital Group Note #10

On September 30, 2013 the Company entered into a Convertible Promissory Note with Direct Capital Group in the sum of $46,215. The promissory note is unsecured, bears interest at 8% per annum, and matures on April 1, 2014. The Conversion Price shall mean par .00001 multiplied by the number of Common Stock converted at the time. ($46,215 @ $0.00001 = 4,621,500,000 shares) The transaction was handled as a private sale exempt from registration under Section 4(2) of the Securities Act of 1933. During the six month period ended December 31, 2013, the Company accrued $922 (December 31, 2012 - $nil) in interest expense.

A portion of the proceeds from issuance of the convertible debt, equal to the intrinsic value, is allocated to additional paid-in capital. Because the debt is due on demand and is convertible at the date of issuance, the valuation of the beneficial conversion feature is charged to interest expense at the date of issuance.

During the six month period ended December 31, 2013 interest expense relating to the beneficial conversion feature of this convertible note of $46,215 (December 31, 2012 - $nil) was recorded in the financial statements, with a corresponding increase to additional paid in capital and debt discount of $23,234 (six month period ended December 31, 2012 - $nil) was accreted to the statement of operations.

As at December 31, 2013, accrued interest of $922 (December 31, 2012 - $nil) and debt discount of $22,981 (December 31, 2012 - $nil) was recorded.

Link > smelly mely 10Q page 17, 18 & 19

Last known President of Direct Capital Group, Inc.:

Yep.