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I grasp it just fine. If you want to see a perfect example of the most extreme toxic financing in process, check out COIN, and YRCW. They have done (and COIN is still doing) a perfect extreme case of it at its finest. YRCW 52 week high on the charts was showing $1500 per share versus about .09 before the last R/S( IIRC), Coin has gone from about $1 to .0003 pre split on hundreds of millions of shares the last 12-15 months and is still dumping 100's of millions to convert debt to save the CEO's paychecks and keep them coming. LOL, don't get me started on that, LOL!
If the EGOH volume runs up to new highs and .005 area does not hold, but drops to .001-002) then I agree, EGOH (Wilmont) has borrowed heavily, and they are converting and dumping, but IIRC, there was a 6 month wait in the contract between Wilmont drawing money, and their ability to demand shares for payment. Did I miss something?
Also, Wilmont seems to have stepped up his reporting game recently (SEC, versus garbage napkin quarterlies to the OTCBB)?
I am not saying this is a long term investment here. I was never really convinced of that, and am still not convinced. But it looks like a good trade here to me.
Also note worthy, I was not telling people to buy here at all the last year. But this looks like a nice priced lotto ticket here.
BS. They would not lend $1,000,000 to a worthless company, where they could not get out by at least selling shares at break even or a profit. Therefore The Cayman island money people see value to them, enough to loan the company $1,000,000 against shares!!! That is all I am claiming, nothing more, nothing less. Last info I saw, said it was a loan, with shares as collateral, and the last SEC doc looked like he swapped shares for the $25,000.00, which is not a lot of shares so far. The AS is still 300 million last I saw, so even he swaps 1 million dollars at .0075 he caps out the AS at 300 million. At .005, 300 million shares 1.5 million market cap, with $1 million dollars in the bank. Lots of if's I agree, and lots of ops for Wilmont to screw us again....I agree. But I think I see possible signs of life here at the right price for now.
Would it dilute retail shareholders, yes. Would it push share prices down, yes it would if he wastes the money, like he usually does. Still a big gamble here, I agree, but timing is everything, and this looks like the time to me, for the first time in over a year.
Nice to see the spread bid/ask, tightening up and reduced volatility. We need it to keep volume and to go higher IMHO.
Right, and those shares have not been issued, just "agreed" and the deal is a deal "in principle", deal has not been completed.
"it reached an Agreement in Principle, subject to certain conditions precedent, including entering into a definitive agreement"
Which is why I say Westrock, Powers and Pierce hold all the playing cards, not MNLU, hell they hold the whole deck, LOL.
The ask is falling, so we may get a shot or more cheapies. If it goes lower I will be adding more here.
.050 is the 52 week low, if it falls this week, it could go a lot lower if people are scarred off by this news. If it holds, this may be the time to buy!!! I suspect if they are planning any serious dilution, they will try and do a serious quality pump first. JMHO.
I have no clue, but lots of possibilities. For all we know they may be planning a merger with Questus, to replace Wilmont, or looking for competitive offers for mergers or buyouts, who knows with Wilmont.
The Cayman island money, while bad news in general for us, tells me they see value in the company still!!!
This new outfit seems to have serious NY stock exchange credentials!!!!! Some thing is up for sure. What they are planning, I have no idea. But I never had a whole lot of faith in Questus to begin with, just too little info available on them, and now with the Questus merger with a known P&D public company (historically that is) I see this as a possible positive sign that Wilmont is not sitting on his ass. Only time will tell.
FWIW, I just did some bottom fishing and caught a few cheapies.
I am in Houston too. PM me an email if you will.
I think SE needs to do a background check on these guys:
http://www.dmecapital.com/management.html
This could get very interesting if Wilmont has finally decided to give up control?
"They still own 15 Million shares of MNLU"
Who is they, and how did they get 15 million shares?
LOL, let's MILK it for all it's worth, but don't have a COW!
LOL
NG is down again, new low!
http://quotes.ino.com/chart/?s=NYMEX_NG.H12.E
This is still a worthless, BK company, with no future, no stockholders equity, nothing but endless huge losses to line the CEO's pocket (salary), run and funded by stock dilution crooks, and cheered on by penny stock gamblers, not by investors.
Do some DD and the stench won't be hard to find, just follow your nose! This one is rotten to the core. The only thing holding the price up from hitting .0001 is endless R/Splits and the need to dump more debt converted worthless shares.
LOL, good point, we could always get back to pigroast and counting the chickens before they hatch on the Old McDonalds farm LOL.
So you all have dreams of going to lost wages Nevada, Good luck with that, LOL!
Jesssh, 101 million shares in one day should be sending off loud alarms people!!!
This is not even Junk stock now!!!!
I wish Fidelity would let me buy it, but alas it seems to be unbuyable in the USA?
It got my attention, and so I bought to average down finally. I was still in at $3.60 IIRC.
It is a done, complete merger. They got almost 11 million dollars, payed off the old debts, got rid of the old stock issues (anti dilution warrant rights and junk they had, or so I was told), and added a blood cancer oncology drug to the pipeline, and are now run by this Guy Weiss...who has a history and other biotech irons in the fire it seems.
Bad news is we got massive dilution in the process. They now have no debt, apx 11 million in cash (less fund raising fees?), 4 drugs in the pipeline, and about 277 million shares (ouch).
The Company completed the initial closing of an offering of its Common Stock on December 30, 2011, issuing 277,285,633 shares of Company Common Stock at a price per share of $0.04 for total gross proceeds, before placement commissions and expenses, of $11,091,425.32. Mr. Weiss purchased 7,500,000 shares of Common Stock in the offering.
Just curious, does any one read or follow this board, stock anymore?
I never bought because I always felt the market cap was already way too high, I know the waste water treatment business.
My concern is this. Pierce, et.al., now has the data from the drilled well (recall he has senior secured debt, and can liquidate MNLU by calling the note, or doing a massive share issue debt conversion, R/S, and take over 98% of the company).
It was safely drilled. The NG is now verified as there. With out fracking, the well would be profitable at $4 or higher. Fracked it would pay back faster. My fear now is that they may liquidate MNLU, and Westrock (Pierce) will just hold the leases and wait 2-3 years till NG recovers, then he can either sell the entire mess to a major for big, BIG bucks, or take any one of his other penny scam O&G companies he has, and start the game over again. It is just not a good buy risk here and now, with what all we now know.
Not true. MNLU owes 1.5 million to Brent Pierce, senior secured notes, and if 3 creditors file chapter 7 BK against MNLU to liquidate it, Pierce and Westrock will walk off with the entire BV deal, well and leases.
I have used Fidelity for 25 years. No complaints.
There is (or are) leans against that well, from unpaid bills to MNLU.
Shhhhsh!!!
LOL Call me, answer your phone, LOL!
Scary thought for longs. If a serious buyer showed up, why wouldn't Westrock just deal directly with the buyer and cut an MNLU out of of part or most of the deal, cut MNLU out of the deal on leases that MNLU does not have solid control over at this time, just like they did to AEXP?
With NG this low, and no signs of it bottoming now, in fact it is now crashing, down from $5 12 months ago, heading for $2.50 now or lower, no one will fund the completion of this well anytime soon, and the clock is ticking on the next flood season. They will wait till next year, or worse...
http://quotes.ino.com/chart/index.html?s=NYMEX_NG.H12.E&t=&a=&w=&v=d12
This well can not be completed at a profit with NG this low!!!
This PR had a much more complete, done deal sound to it, FWIW. I will take it with a lb of salt, LOL.
0:15 AM The EPA yesterday released a detailed listing of facilities that emitted the most greenhouse gases in 2010, with three coal-fired power plants owned by Southern Co. (SO) topping the list and a Duke Energy (DUK) plant placing fifth. The release marked the first time the U.S. government made such detailed information available to the public.
MVTG still has a future!!!
Nice!!! THAT SHOULD PUSH US UP OVER .20/SHARE NOW! Go TTEG!!!
So what is the history here with KERX and Mr Weiss?
I was in MHAN which just merged and raised a bunch of cash, and is now a new blend of two companies, with a new ticker TGTX, and they cleaned house and Weiss is now running the show there.
I took about a 95% loss on the massive share issue they did to raise 11 million $s, so I an curious how this guy has handled his other pert Biotechs like this one.
http://opuspointpartners.com/news.php
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8330690
http://www.opuspointpartners.com/ONEPAGERS/NHLD%20PR%20012511.pdf
http://investing.businessweek.com/research/stocks/people/person.asp?personId=196015&ticker=KERX:US
http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=KERX:US
http://insurancenewsnet.com/article.aspx?id=244366&type=newswires
I seem to recall Weiss and KERX were not too popular not too long ago, but I forget the details?
Only if he borrows the rest of the money first, and then does not pay it back before the due dates is my understanding from the original PRs and SEC filings.
It is here in old posts from about 8 weeks ago. Search and you will find it.
https://www.google.com/search?q=egoh+504+stock&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=69235975
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=69233808
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=69245417
Like I said old news to us.
Todays news does not look good for old share holders, but may be good for new share holders. hard to tell at this point. Looks like this guy is now running the show, and all directors and officers at MHAN are gone, as of Dec 29th (a little late on that disclosure...)
http://www.opuspointpartners.com/ONEPAGERS/NHLD%20PR%20012511.pdf
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8332674
Name changed, share count went postal, they raises 11 million dollars, at .04/share
Personally I feel pretty screwed at this point here and wondering if Weiss has a history (Keryx Pharma?)
Mr. Weiss earned his J.D. from Columbia Law School and his B.S. in Finance from The University at
Albany. He began his professional career as a lawyer at Cravath, Swaine & Moore. In 1999, Mr. Weiss
founded ACCESS Oncology which was later acquired by Keryx Biopharmaceuticals (NASDAQ: KERX) in
2004. Following the merger, Mr. Weiss remained as Chairman & CEO of Keryx and grew Keryx to close
to a $1BB market capitalization company at its peak. During his tenure at Keryx, Mr. Weiss acquired
Keryx’s current Phase 3 drugs, raised over $150MM in equity capital through public and private offerings
to institutional investors and executed $100MM+ strategic alliance with Japan Tobacco Inc. and Torii
Pharmaceutical Co., Ltd. Such funds and fiscal discipline enforced by Mr. Weiss, enabled Keryx to
sustain itself through the economic turmoil of 2008-2009 without the need to conduct dilutive
financings, as was the case for many emerging companies. Prior to founding ACCESS Oncology, Mr.
Weiss was an investment banker and fund manager in New York City, focused on biotech and life
sciences.
At today's price spread, if MNLU succeeds, they likely will dilute a bunch to raise the cash they need to pay bills off, AEXP will not need to dilute (yet), and thus AEXP is a better buy today than MNLU IMHO.
And for the wild eyed bulls still here trying to start a stampede of bulls with their half full glasses, (LOL), I want to make sure you guys are along for the ride with me the next a major hurricane knocks a 10 ton tree over onto my house, while the winds are blowing at 125 mphs, we can all have a tree falling wind blowing party at my house!!!! I am sure I would feel much better,
LOL
The funny part, is if he bothered to read the old posts, he would know we posted that here the day it showed up in Wilmont PR, and beat the topic to death with over a hundred posts for a week!
That so called dead money is up about 50% this year, LOL.
Some pretty amazing info in these write ups, showing that ABAT is totally legit, and the shorts and their writers were the real scam artists!!!
http://chineseshortcharade.com/
http://chineseshortcharade.com/abat-distributor-relationships/