Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
That is right. The lawsuit IMHO IS over the amount (what is reasonable, and what was agreed to versus what was done, and what was not done in the way of work), what John thinks he is owed, what Larry thinks is owed to John, what John was already paid in advance (shares for work that was not done), what work was actually done, and so on. It is the amount that law suit is over. It will likely be settled in some sort of arbitration IMHO.
By the way the quote you posted from the 10K, shows one of the reasons I still trust this group, and Larry. The fact that they are not dumping new shares to pay themselves for back wages and loans they made to MVTG. And they are not charging MVTG interest on the loans.
Whether MVTG survives or not is still no doubt up in the air, but one thing is for sure, the insiders are giving it their best and are not raiding shareholders pockets to line their own pockets like so many pink sheet stock companies do. They are trying to build a real company and bring real, new, valuable cutting edge technology to the world.
I must agree, and note that buyouts include total control of the company after the cash passes hands. I have no doubt MNLU has had offers that were too little and asked for too much, like total or near total control. I see the wait as a bullish sign that MNLU officers are not willing to jump and take just any offer. I also think that part of the problem is any new money that comes at 12-15 mil, is worried about needing more money 6 months later to expand drilling and build a pipeline, and they want a deal lined up for that before taking the first deal, which makes negotiations very complex. On that basis I am still bottom fishing here for jumpers, LOL!
I have asked for some kind of hard copy proof (in the form of a link) of positive activity at the Texas RRC by Questus, but no one has come up with it yet. I have tried searching the Texas RRC data base myself, but it is not my field of expertise, and their data base is not user friendly if you do not know what you are looking for. In fact I spent several hours searching their data base and could not find anything good or bad on EGOH, or Questus. And since I know EGOH HAD unresolved issues with the TRRC, like fines to pay, etc, I know I just don't know how to dig in the right place! LOL
Could be worse!!!! Somebody could have sold 100 shares of TTEG for .05/share!!!!
Or you could get serious and hit the BIG buy button at the ask all day!!!!!
LOL
Larry told me this morning they are restricted shares. I did not ask what the details of the restriction were, so I guess it could mean that they are not yet registered for retail sale, and since the shares were shares that Larry owned (not new shares), I don't know if his are restricted because they are not yet registered for retail sale, or if he added a legal resale restriction and placed it on the shares before he transferred them to John, like a right of first refusal to buy them back himself, or something similar like a performance requirement?
But it sort of makes sense now that I think about, because if he felt slighted, and could sell them already, why would he keep the shares while suing? Why would he not have sold them already when they were still at .10-.12/share, 9 months ago? And why keep them if he needed cash, and felt like MVTG stock price was going lower? Also why would he sue for extra cash, if he felt the stock and company was going down the toilet, just to keep 1,000,000 shares instead of 500,000 shares? So either they are restricted like Larry told me (which I believe), or John is holding the shares for the long haul and is not selling them, which either way means the shares are not an issue currently, and it is all just an unpleasant side show!!!
In other words if they are not restricted and John still has them, that is bullish in spite of the law suit he filled over the final price of an incomplete job he failed to complete (or even really start), due to failing health.
Perhaps you should call John and ask him for his side of the story? LOL, unless John is the poster that filled us in earlier today here, LOL, in which case he may tell us his side soon?
Long story short, I am staying long!!!! And I offer a wish here for MVTG longs!
May this be our worst and biggest law suit at MVTG!!!
Companies like EK, Samsung, Google and Apple,..., are suing each other for $$$$ billions of dollars over patent rights, especially EK on the digital camera software and hardware patents used on smart phones. One court decision could make or break a once great Dow stock, EK (Eastman Kodak)!
Are there any old timers here that have followed ZBB for a few years, that can give us some perspective, and history on this stock? I keep thinking it may be time or nearly time to buy some of this one? Low float, low OS, but was there a RS earlier? Any chance they are close to break even yet on sales?
They are not free trading shares. They are restricted shares, and they came out of Larry's shares, not new shares and not trading shares. And they were an incentive and prepayment for services "to be" rendered, which were it seems only partially (if at all?), incompletely rendered due to his illness and early retirement, and inability to complete or perform the "services to be rendered", which is the meat of the dispute between them.
Any way it is not the "Droids we are looking for"! The prize is a LaFarge Pilot plant start up of construction, announcement, hopefully coming to a PR near us, soon!
OK, I just verified that the suit is real. But like I said, it is not a big deal, not a big $ amount, but more of an annoying distraction, and after talking with Larry just now, it sounds like John is trying to get greedy, wants his cake (1 million free shares) and wants to eat too. Frankly I can't help but wonder if you are John making this post to pressure MVTG to settle with you, LOL, since it is your first and only post on Ihub!
Hmm, no link to the court details in that news to prove it is real (Hmm I wonder they got they info, since they did not report a source?), and your first post ever on Ihub? Not a good sign that this is true or real? But if it is true, thanks for posting it here. Also, if it is true, it is not a large sum of money, so I doubt it will have any real effect on the company. I also doubt it will go court, likely to get arbitrated, and settled out of court for such a small $ amount.
WE have an NT-10Q out today, so we can expect a 10Q out in the next 1-15 days, which might tell us something!!!!
I am currently under the impression they have no direct connection or direct dealings, but they have deals (different deals) with Questus Energy LLC. Questus Energy LLC reportedly (DD by others) is spending money and doing work at the TRRC to get the EGOH oil wells pumping again, and the rumors are that Questus Energy LLC is doing a complex reverse merger with Green Star, to take Questus public via Green Star. But make no mistake, those of us that are long here are playing a very risky game based on the history of EGOH management, a game with huge upside potential, but with very obvious risk as well!
Do you all have some sort of plan for getting this one off the US GREY market list? Is there an overseas link to english financials anywhere?
Bedford reports out on HARB and ABAT, at the same time, related to electric vehicle future in China!!!
http://ih.advfn.com/p.php?pid=nmona&article=49576716&symbol=ABAT
Larry, and most penny stocks, hell probably most all stocks and CEO's do not like to PR bad news it seems, or even neutral news, or minor news. For example you will not see PR's by 3M, or MVTG regarding the dissolution or parking on the shelf of the prior R&D deal they had 2-3 years ago (the one 3M apparently tried to turn into a cheap buy out of MVTG deal from what I can gather). They simply will not risk a liable suit, by publicly saying (especially in a PR, in writing) what they might be thinking about the other party. The PR system simply moves on to the next story of the new cute kitty! LOL
While I may not like it, it is what it is. In my last chat with MVTG, I got the impression they are still making progress (meaning they have not abandoned the LaFarge Pilot plant deal), but they are not moving as fast as we would like, no doubt. I did get the impression they miscalculated one thing (Not the ERC system itself, the other stuff), and figured that out before they commissioned and built the entire PP (That is a good thing, but it left us sitting here while the stock price fell for 6 more months, so it is a mixed bag, good if you wanted the chance to buy more shares on sale), and so they went back to the drawing boards, which delayed everything by many, many months. At least that is the impression I got (which made sense to me), and it is not something they would ever PR, as it has no PR value.
I also got the impression they want to increase the stocks visibility significantly, before they make any major significant announcements. So I suspect we will see "other" PRs, before we see the one we are all waiting for. I have no idea how much longer this will take, but I will keep my shares, and buy more each time the price drops to new lows until the big news arrives. Then we will see what happens. Keep in mind this is a small start up company trying to commission, fund and build a first of its kind $500,000 pilot plant, so you can not spend too much time dotting the eyes and crossing the Tees, on the construction design, contracting, and financing. The good news is that they have one of the top electrochemical engineers in the world involved in the middle of it, the inventor of the MVTG ERC technology, Colin Oloman.
By the way did you all notice my post last week on the newly issued patent on the formic acid fuel cell, issued to our MVTG ERC process inventor, Colin Oloman? A good sign that the ERC patent will be approved and issued world wide! Nothing like betting on a horse with a winning track record!
By the way, funding and building that PP at Lafarge is not the only cost hurdle here, all those overseas patent examinations have huge attorney and examiner fees, upfront fees to pay when moving into the examination phase, so Larry must be gathering funds here and there to cover the costs, or MVTG could not have prepaid that huge bill. Ask me how I know!!!!! LOL
At least Larry tossed us a few bones the last 2 weeks!!!! LOL Who knows maybe we will get the entire BULL next?
LOL
And yet another oil/gas buyout today for billions!
DJ Realtime News – 12:10 PM ET 10/17/2011
-- Statoil (STO
STO STATOIL ASA 24.2700
Change -0.6600 (-2.65%) AS OF 2:33 PM ET 10/17/11.
Chart for STO Research to buy U.S. company Brigham Exploration Co. in $4.4 billion deal. -- Deal strengthens Statoil's position in U.S. unconventional resources. -- Deal gives Statoil acreage in the tight oil plays Bakken and Three Forks. By Katarina Gustafsson. Of DOW JONES NEWSWIRES.
Todays news on El Paso Corp buyout, shows that big money for M&A is still out there!!!! This news may help spur others to cut a deal with MNLU for the cash it needs. Also people cashing out of EP stock today may reinvest in places like MNLU?
Two of CSGH's customers, ABAT and CBAK are reporting huge growth in the lithium iron phosphate battery sector of their business and building huge new plants right now to expand their lithium iron phosphate battery manufacturing capacity, That confirms the CSGH news, in part it seems because is it is inherently better than cobaltic oxide, as far as rapid charge discharge rates "C" rates go, and as far as fire/explosion safety are concerned if the battery is impacted, like in a vehicle accident. And one of the major applications for the lithium iron phosphate batteries is vehicles, from scooter-bikes to buses and trains. One of the reasons I invested in these three companies (recently at the rock bottom lows) was I could see the benefits of the new lithium iron phosphate designs 3 years ago when they were first being introduced, and rapidly growing sales in that sector are now confirming my earlier conclusions. Also cobalt is more expensive than iron!
You sir, seem to be evading my question. I said I see no NEW dilution, and I still do not. Yes there are 2 new SEC files (that I did not see the day before today, listed on the ANX website), but they are about old topics, old shares, specifically registering shares that might be issued, if the Synthrex acqisition of what is now ANX-188( from 4-6 months ago, eventually, someday gets approved by the FDA, which is a long way off. The other shares were news 4-6 months ago, shares issued for the acquisition of Synthrex and the drug IP which was partly owned by CYTR, and now is owned by ANX. The last hand full of SEC files are about registering those shares for resale, both issued shares, and the future shares that might be issued in a few years if and when the Synthrex drug it to an NDA filing and then makes it FDA approval. So As I said, I do not see "new dilution" to raise cash which is what your original post said and claimed!!!!
http://ir.adventrx.com/phoenix.zhtml?c=75414&p=irol-sec
What dilution? I have seen nothing new, and I just checked?
They only partially filled my order. But I am not complaining!
Many thanks to who ever just sold me shares at .015/share!!!!
Christmas has arrived early here!
I am re-reading and reading the newest posts here while we watch the paint dry, LOL:
http://www.gohaynesvilleshale.com/forum/topics/mississippi-activity?xg_source=activity&id=2117179%3ATopic%3A1397504&page=69#comments
Here is a bit on some of the possible oil in Louisiana leases, and other news!!!
http://www.mainlandresources.com/index.php?option=com_content&view=article&id=71:news-release-01-04-2011&catid=46
Have you looked here?
http://www.gohaynesvilleshale.com/forum/topics/mississippi-activity
http://www.gohaynesvilleshale.com/forum/topics/mississippi-activity?xg_source=activity&id=2117179%3ATopic%3A1397504&page=71#comments
http://mainlandresources.com/index.php?option=com_content&view=article&id=65&Itemid=76
http://mainlandresources.com/index.php?option=com_content&view=article&id=57&Itemid=63
http://mainlandresources.com/index.php?option=com_content&view=article&id=57&Itemid=63
http://mainlandresources.com/index.php?option=com_content&view=article&id=50&Itemid=57
Some history here:
We have had Google views posted off and on in the past here, and we have a few, two that I recall for sure, posters here that live near the well, that have have done fly overs (and posted photos) and watched the access road. Others have posted the public filings info at one time (Geo?), as the well was being drilling. One of them owns some of the MNLU leased property. It is all here in the old posts going back to November 2010. Geo has had second hand (IIRC) contact with one of the mud suppliers that supplied the job. There has been a ton of DD on this one by many people here. The risk is a what if they never get funding to frack the well and tie it into the pipeline. The reward (less any deal dilution costs) is they have Schlumberger reports that indicate they are sitting on $1 billion dollars of dry NG at 22000 feet (this includes the AEXP merger leases) which does not include known (but so far unquantified) oil, or condensates at other depths. The access road (not the well site) was flooded out this summer, Miss. River, and we got word from a local guy that the county plans to build a new road...
I was just looking over some other green stocks, some I also own, some I think about buying someday, when one of them got me thinking.
The one I was looking at, has a market cap of 61 million dollars, has a huge massive stock OS of 218 million shares (5 times MVTG), has a new style steam engine design (and patent), so the market is a hundreds of millions of engines market (to replace the basic engines we use now), but the sales are maybe $5,000 to $50,000 per engine depending on the size, market, application etc, so getting serious dollar volume sales at a solid profit margin, is IMHO a serious question.
Now here is the deal. Every Tom, Dick and Harry out there, mechanic, would be mechanic, etc, looks at that penny stock and gets it, he thirsts for a newer engine design with power, low emissions and great fuel economy. They know how huge the market unit volume potential is, and they GET "engines, and power plants", and thus that one stock has a huge following, and a huge Blue Sky stock price that is 10 to 50 times what it should be, when compared to say MVGT.
On the other hand, most of these grease monkeys don't get the GHG and climate change issues. They don't understand the MVTG technology itself, and just don't get the value of this, MVTG, stock. In their case their company needs to sell, build and deliver 1000 engines at $10,000 each, to reach $10,000,000 in sales, which requires distributors, OEMs, and a lot of hard work and a lot of staff, while a SINGLE full sized MVTG ERC system on one major coal fired power plant would probably run say $50,000,000 to $100,000,000, or 10 times the revenue of the engine company!!! That would be one sales effort, not 1000 sales, or 10,000 sales, but just one sale!
That is something we have never really talked about here!
No doubt someone will pester me as to which company I am doing the comparison on, so it is CYPW. It is a great little company, but I think compared to MVTG it is way overpriced, and MVTG is way underpriced.
Right now the market cap on MVTG is a fraction of what it should be. Which makes MVTG's stock price a real bargain. Just imagine the profit from the first major sale here, and you will get the picture!
One quick foot note, the other company has also had much more public exposure, like being feature in Popular Mechanics a while back, so it has a lot more eyes following it than MVTG.
Conferences like the one we got news on today, coming up in November, will help get the word out about this quite little gem of a company.
Some one just bid whacked AEXP down to .021
Curious price activity today, two 20000 share buys at almost .80, then 1400 shares sold in two sales (guessing 1000 and 400 share lots) sold at .52, but the offer is .75, ask is .82 right now, very strange. And this stock has no MMs, so even stranger looking!
We have been told repeatedly that the merger is waiting on SEC approval, dotting eyes, crossing Ts on the forms, and there have been ongoing updates of the SEC application. I also think that AEXP wants to see the funding deal completed before the merger is completed, but potential new cash investors for new shares might want to see the merger completed before funding new shares. Just speculation on my part, educated guess.
The price is down because they are trying to raise funds needed to complete the BP#1 well, and they have past due bills (unsecured bills) to pay. There is a private offer out that is offering new shares at .15/share, 66 million new shares, to close the funding gap. But funding is scarce world wide lately, so it is taking a long time. Right now is not the time to sell IMHO. I still own shares I bought at .67/share in AEXP, which is $2.68/share for MNLU (before the merger was announced), and I am still holding, in this one for the long haul!!!
MNLU management did goof, they should have sold new shares in Feb this year, but they expected a much better market for raising new money this summer/fall (even secured loans were planned), but they ran into the summer sell off, Euro panic, people sitting on cash..problem, and so here we are at a 90% discount, that is 25% of MNLU proven reserves asset book value! I think they fully expected to be able to do a JV deal or secure bank loans to complete the well, which is why they did not dilute in Feb this year. If this was a scam, they would have diluted on the well news in Feb/march this year!!!!
Great unexpected news!!!!! One of the things we need is ongoing first class exposure that triggers more first class news, as almost no one in WallStreet and the VC world knows about this little gem yet! This means steady news going into January 2012, just from the conference.
The NREL lab is one of the premier US DOE labs!!!
http://www.nrel.gov/
http://www.tradecommissioner.gc.ca/eng/document.jsp?did=120123
Looks like NG futures bottomed last week with the market bottom!!! And it bottomed a good $1 higher than last years lows, if that was the bottom.
http://www.mantraenergy.com/Portals/MantraEnergy/pdf/presentations/erc_presentation_v5.pdf
This is the latest brochure I think. Really very well done, extremely professional!!!! And gets into the meat of what they are doing.
http://www.businesspundit.com/25-most-promising-products-for-2011/ MVTG ERC was number 15 in the list!!!!
MVTG web site with details on the ERC technology:
http://www.mantraenergy.com/Technology/ERCTechnology.aspx
Found on WIKI:
More Colin Oloman (MVTG inventor) patents!
http://www.google.nl/patents/about?id=GGkoAAAAEBAJ
http://www.google.es/patents/about/4728409_Perforated_bipole_electrochemica.html?id=Oo8uAAAAEBAJ
http://www.google.ru/patents/about?id=vXUHAAAAEBAJ&dq=5366182
This not the typical penny stock folks!
Kenny, been a while. How you been doing?
I just spoke with Larry, the CEO of MVTG. I get the impression this is just round one press, 1st inning, to try an get more people watching the stock, before the real news starts coming in. We will see.
In the mean time I can counter that post with the fact that the MVTG inventor of the ERC technology is one of the top ten world organic electrochemical engineers in the world, very well published, tenured University professor, with something like 20 ISSUED chemical process patents to his name already!
Also, a great deal of the debt listed on the MVTG books is owed to insiders like the CEO, Larry, who still owns about 40% of the 44 million OS shares!
Collin Ottman is the inventor of the ERC.
http://www.smallcapvoice.com/mvtg/
Mantra Energy Alternatives Ltd., a wholly owned subsidiary of Mantra Venture Group, which acquired 100% ownership of the patent pending technology Electro-Reduction of Carbon Dioxide, or “ERC” in 2008 . ERC was developed by Professor Emeritus Colin Oloman at the University of British Columbia’s Clean Energy Research Centre.
This is a brand new Colin Oloman issued patent on the fuel cell, which has been in the MVTG/on the shelf, R&D stage waiting for the ERC technology to get past the pilot plant stage.
http://www.freshpatents.com/-dt20110714ptan20110171555.php
The inventor himself, and part of the MVTG scientific staff.
http://www.chml.ubc.ca/faculty-staff/oloman.php
The ERC technology is even on WIKI-pedia now:
http://en.wikipedia.org/wiki/Electrochemical_reduction_of_carbon_dioxide
It takes a lot of time and effort (money and expensive attorneys) to package a deal, and the 15 million $$s that MNLU wants (or wanted) may be too small a deal (and does not give up control of the company), to small a deal right now for the big boys to bother with. But the fact that the big deals have been happening, should help the small money dealers justify a deal with MNLU, a deal that gives them a huge out opportunity later on, based on the billion dollar deals floating around in the news.
Thanks for the PM. Have a good time with JR!
I wonder if some of the big shareholders, that are converting debt to shares, will want this stay in penny land long enough to distribute shares at a penny premium, before a R/S?