Wednesday, December 23, 2009 1:08:06 PM
10Q Quarter ending October 31, 2009:
May 27, 1997 (inception) through October 31, 2009 reports only $51,739 in revenue resulting from direct contracts, and NO Contract Revenue Earned 2008/2009. I'll come back to this in a moment to tell the significance of this.
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Other financial stuff from current 10Q:
Total current assets 105,392
Total assets $ 110,009
Total current liabilities 183,761
Total liabilities 183,761
A/S 12,000,000
O/S 7,457,349
This is huge! They have virtually no debt, the O/S is very responsible and modest.
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Now back to revenue:
Company announced on 4/17/2009 $1.1 million Pennsylvania Project Sale that has not been reflected in the financial statements http://ih.advfn.com/p.php?pid=nmona&cb=1261589266&article=37329965&symbol=NB%5EMMGW .
Company announced on 4/7/2009 $1 Million New York Project Sale http://ih.advfn.com/p.php?pid=nmona&cb=1261589266&article=37211638&symbol=NB%5EMMGW .
Company announced LOI for $5.8 million contract on 9/2/2009. On 11/20/2009, company announced signing of that contract http://ih.advfn.com/p.php?pid=nmona&cb=1261589266&article=40451021&symbol=NB%5EMMGW .
Today 12/23/2009 company announced testing of New York Project. http://ih.advfn.com/p.php?pid=nmona&cb=1261589266&article=40876314&symbol=NB%5EMMGW .
To add this up, $7.9 million in contracts have not been realized in the financial statements. So, we have a virtually debt-free company, with a very small O/S with multi-million contracts signed and potential for more, plus the potential to receive alternate energy grants, etc. from the ever-growing environmental-friendly governments. And, looking at the chart below, we are at historical low levels. Are you with me???
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stockmarketinginc.com picked up the stock awareness.
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Of the O/S of 7,457,349, beneficial owners are:
665,700 (8.9%) Thomas F Weisz reported 1/2/2008
1,709,836 (22.9%) Jonathan Ricker, CEO reported 8/11/2006
Total beneficial owners 2,375,536 (31.9%)
Leaves a float of 5,081,813
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Jon Ricker, CEO (508) 751-5432
JonRicker@massmegawatts.com
www.massmegawatts.com
MMGW chart:
IHUB Message Board: http://investorshub.advfn.com/boards/board.aspx?board_id=5913
Pinksheets.com: http://www.pinksheets.com/pink/quote/quote.jsp?symbol=mmgw
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I see nothing but upside potential for this company. I hold a small position and will be looking to accumulate.
This post is in my opinion.
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