APT MotoVox Group Inc. (MTVX)

[diannedawn]

The truth will save your money...
Funny how the truth is always attacked...
1.

On a TV News piece Motovox said they will hire several hundred people in Kasas City. Never happened.

here's the statements from the EDC...
"Project Investment: $26,000,000
Employment: 276 over the next 5 years

American Performance Technologies (APT–Motovox is their product name) is an energy conservation enterprise who is manufacturing high performance and environmentally responsible recreational and utility products for a global market. APT is a start-up operation with 32 full time equivalent employees with an approximate wage of $60,000. They have taken the ex-Montgomery Ward facility on the north side of the old Bannister Mall.

Project Assistance
EDC staff aided in the delivery of state incentives. The State of Missouri has pledged apx. $3.9 million in Missouri Quality Jobs and recruitment assistance of new employees. In addition, APT was the recipient of a $7.7 million allocation of New Market Tax Credits.APT is a start-up operation, currently with 32 full time equivalent employees, with an average wage of approximately $60,000. APT projects increasing employment by 276 over the next five years with an average starting wage of $42,000. and an investment of $26,000,000.First year sales of the vehicles was apx. 30,000. Projected sales for 2013 is 100,000. Major retailers include Sears, Kmart and Costco."
http://edckc.com/portfolio/american-performance-technologies/

Definition of SEVERAL: an indefinite number more than two and fewer than many...
so I think "276" is close enough to "several hundred"! LOL!

2.

In a PR prior to the merger he stated 20M revenue for 2013 and double that for 2014. Never happened.

"The Company reported revenue of $10.5M for 2012 and is forecasting $20M for 2013 and $68M for 2014. They are in the Big Box Retailers and order demand exceeds current supply capabilities"
Covey made these statements right at the time when 5+ people had, or were in the process of BAILING from APT....
They were already well into the year, and SURELY knew there was NO WAY that they would achieve this "forecast"...
http://www.prweb.com/releases/2013/5/prweb10701283.htm

3.

Promised financials in a signed 8K on a certain date. Never happened.

Everyone knows the audited fins were promised and have never been delivered...MTVX likes to say they aren't "done" yet...
IS MALONEBAILEY REALLY THAT INCOMPETENT???
I believe MaloneBailey should either finish the audit (if its really their fault...)
or make MTVX own up to WHY the audit is not "done".

4.

Promised tours of the facility. Never happened.

Its been stated that the tours were "canceled"...
Proof that they are happening is welcome...