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MEXP is a penny stock that only a few "play" successfully. Which is precisely why the “pessimistic” (some would say “realistic”) viewpoints tend to have the most practical value for those new to trading penny stocks. MEXP has a gagged TA, therefore in reality we dont know the share structure or how bloated it may have become. An effective PR (hopefully NOT another LOI) can pop the share price and that is how money can be made; shares purchased cheaply (buy low) will be sold at inflated prices (sell high) to the latest wave of “investors” (newbies) who will wait in vain as the share price slowly drifts back to where it began.
I would NOT say confirmed by any stretch of the imagination; it's not even real news. It is merely an item written on a promoters blog, written by one Urdeep SINGH. A better term for the article would be rumor and/or pump.
Six trades TOTAL today for MEXP. Interesting to note, half of the trades (3) were for $10.80 or less.
04/02/12 11:03:13 0.0006 0.0005 0.0006 583800
04/02/12 11:03:13 0.0006 0.0005 0.0006 416200
04/02/12 11:03:13 0.0006 0.0005 0.0006 5000
04/02/12 11:03:13 0.0006 0.0005 0.0006 18000
04/02/12 12:19:04 0.0006 0.0005 0.0006 6644
04/02/12 12:56:05 0.0006 0.0005 0.0006 200000
Amazing how that volume just happened upon us as we were discussing it.
We now have $600 TOTAL volume.
Plus just another +33% increase to get to where you thought it would be by last Friday.
Will it hold or will more dumping occur?
Only time will tell.
I must disagree again, we won't see real volume until there is either additional dumping OR a promotion is run. With a promotion you'll see an increase in volume for a short period of time, followed by a decline back to where it started OR lower. Point in case, the last MEXP promotion accompanied by the conference call AND the PR regarding the golf course/villa LOI. A brief stint @ .0016, then back to .0004. That's a 75% decline in anyone's book.
As I said in my earlier post, the share price of the stock may temporarily increase. Those who sell into that increase will perhaps make money depending on their entry price. But their profit will come out of the pocket of the next generation of MEXP “investors” or bagholders as they are often termed.
I do not agree with you. If there is no volume, you can NOT confirm price movements that have any conviction whatsoever.
You don't know how much MORE dilution there will be or even how much there already has been; the TA is gagged.
No volume is never a good sign. Without supportive volume, there is no confirmation of a pps movement.
Good advice, that's where I added last time around, and then received a nice divi as well.
Btw, thanks for the clean ibox. It's refreshing to see one that isn't overwhelming yet has all the necessary info.
Capted, you're certainly not my enemy; sorry if I ruffled your feathers as that was not my intention. My disdain for MEXP is in how they handle shareholders, who in my opinion they treat with a total lack of regard. You, on the other hand, obviously like what you've seen and/or heard. Basically we're hoping for the same thing though, that MEXP follows through on past and future promises/pr's and behaves like an ethical company whose primary responsibility is to it's shareholders. Although MEXP may disagree, I believe they are also ethically responsible to their employees; without them the company literally would not exist. Treat them well, and above all, pay them.
Is stating an opinion and/or facts now considered scaring someone off? Here's my post regarding the amount of shares dumped. The way I look at it, it is what it is.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73846225
Why would you if you can buy it on the bid?
I offer mostly facts and an occasional opinion, capted. MEXP's management is not anywhere near comparison to a university head or the head of the government of the USA. Barrack Obama or say John Hennessy are in some places, household words. The CEO of MEXP is merely a CEO of a pink sheet company, a dime a dozen if you will. As I said earlier, some of the CEO's have others pulling the strings. My case in point would be Wilf Blum pulling the strings at MEXP's competitor DPBE, although he is clearly not CEO.
HUGE dilution is not something to be glossed over. Certainly it IS something to be complained about, no matter how negative, because it shows a complete lack of concern for shareholders. Not only is there dilution evident, it's being done recklessly. Perhaps that's an issue of which you should look at both sides. Add that issue to a gagged TA and PR's which haven't been discussed further NOR brought to fruition, and that adds dimension to the MEXP story. A reasonable conclusion would be that something isn't on the up & up here. And that is my opinion.
Last time I got a degree in economics, I was taught that the secretary/treasurer is the corporate officer entrusted with the fiduciary responsibility of caring for company funds. It also looks like Scaglione in his field of law, issues opinion letters for MEXP. He also appears to be the company spokesman who conducts protected Q&A's on Internet radio.
As we all are aware, some CEO's don't function as being in charge of the company and all operations. They have others who pull the strings, so to speak. Once again an MEXP competitor, DPBE, comes to mind.
If you know the joint venture is gone, why was Michael Scaglione still talking about it on the recent CC? As for main management types, Scaglione appears to be front and center.
No one seems to want to talk about the 6-ton pink elephant in the room.
39,649,200 shares traded today.
27,835,000 of those were at the lod, .0004.
Who would be selling at this price? Any ideas?
27,835,000 dumped at .0004 today
I'm all for that. For some I may not be enough "pro-MEXP", but my MEXP data is accurate.
I've found a sense of hopeful idealism mixed with a bit of jaded pragmaticality (rather than adventure) helps when trading the pennies. lol
MEXP has to establish .0006 first before they even attempt a "surge". Of course anything is possible if they release a fluffy PR and pay promoters to work it. Unfortunately, that's not an advantage to long term shareholders.
Sixty percent of today's volume is at .0004.
I show slightly in excess of 13,000,000 shares traded @ .0005.
Maybe someone else can chime in?
Good luck to you as well, hc.
I'm not sure what figures you're using but despite postings to the contrary, today's trading range was $.0005-.0006.
Sixty-Seven percent of today's trades were at .0005.
MEXP has merely experienced very short term increases accompanied by paid promotions, followed by a decline back to where it started. Or in this last case, the price declined to even lower than where the promotion began.
Is it your opinion that the other two holders of the preferred shares are Alvarez and Goldman?
I can see on level 2 that there were 1,291,194 shares (approximately $645 worth) traded just prior to the market closing.
In my opinion as a seasoned veteran in the public markets, a 1.2 million share bid-whack at the close is more significant than a 10k share paint-job at the close.
Fact: MEXP closed @ .0005 with a bid whack at the close.
Stock off -29% today.
Have a nice evening.
That would be the infamous MICHAEL SCAGLIONE as of August 2010.
http://markets.on.nytimes.com/research/stocks/fundamentals/drawFiling.asp?docKey=137-000107258810000229-7A0TE0GJKCLQCC7NEJ1LO2JHTL&docFormat=TXT&formType=DEF%2014A
Thanks Count!
You commented earlier on the preferred share issue and it looks like we're on the same page. One observation. Michael Scaglione clearly sidestepped any questions regarding the preferred shares. Makes you go hmmmmm.
In your opinion, perhaps. But it certainly doesn't have to be carried out that way. The Series A preferred shares, at the option of the HOLDER, are convertible at a rate of 10:1 common stock.
Perhaps you'd rather take the word of a PAID promoter then.
POSTED FEBRUARY 29, 2012
Stock House Alert - MEXP
With today's release of news by Marine Exploration, Inc., (Pinksheet: MEXP) we are officially Alerting a stock we've been talking about on Twitter and Facebook for a couple of weeks now. The Letter of Intent will add Millions in assets to MEXP's books. We have pounded the table and discussed the opportunity to load up on this stock in the .0008 and up range, and now it appears the company is ready to move along.
MEXP has been using the last year-plus to clean up the company and reshape the business model. CEO Mark Goldberg spent some time with us in med-February in a CEO Interview to discuss the future of Marine Exploration, Inc.
After falling in love with the company, Goldberg became the CEO and has used the last year or so to clean up the share structure, surround himself with top talent, and clearly define where MEXP is heading.
Today's News adds millions of dollars in assets to the books with the Letter of Intent to purchase Isabel Villas Golf and Country Club and Marina, Inc. Look for the company to start exploring again very soon, and you can expect further strengthing of the company's value, with acquisitions and business devlopment that goes well beyond exploration.
Today's press release looks to be the company reawakening and implementing the Berkshire Hathaway business model they look to put into motion.
New Contracts
The company should also be alerting the public to new contracts it has in the Dominican Republic for exploration that extend its previous contracts there. Once the company announces the new contracts, with it, will be an opportunity to realize the exploration of a shipwreck they've located and are ready to bring up items that will surely enhance the company's bottom line almost immediately.
MEXP Share Structure
We have found that MEXP moves--oh so easily--with any volume at the Ask, and the share structure is set up nicely to see this stock become another huge Stock House Group winner! The Outstanding Shares are 593,302,644 and the Float is around 100,000,000 with Insiders holding a great position in Marine Exploration, Inc.
Disclaimer: The assembled information disseminated by Stock House Group is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Stock House Group does not expect that investors will buy and sell securities based on information assembled and presented in Stock House Group's newsletter. Always do your own due diligence, and consult your financial adviser. Never invest in any stock mentioned in emails or a Stock House Group newsletter unless you can afford to lose your entire investment. All assembled information within stockhousegroup.com is subject to change without notice. The assembled information within Stock House Group is based on information supplied by the companies we highlight, press releases, SEC filings, or from other sources believed to be reliable as of the date of the report on the discussed companies, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. Stock House Group and its affiliates are not, brokers, broker-dealers, market makers, investment bankers, analysts or underwriters.
http://tradingacademy.com/promos/Register-Page-ZipCode.aspx?webcode=marketing&campaignid=70140000000NEgB&campaigncode=GMAD366001019&checkpfp=true&s_kwcid=TC%7C20207%7C%7Bkeyword%7D%7C%7Bplacement%7D%7C%7Bifcontent:C%7D%7Bifsearch:S%7D%7C%7C%7Bcreative%7D&utm_source=aol+sponsored+listings&utm_medium=cpc&utm_term=copy3&utm_campaign=content+remarketing
It looks like you thought different just 2 days ago.
Your post, Value Investor:
As has been posted here repeatedly, the numbers on the OTCmarkets.com is supplied by MEXP themself.
The numbers in the recent quarterly state they are good as of March 31, 2011
Lastly, the TA reported on 2-21-12 that the OS was approximately 593 million.
If the company actually lowered the OS, they would be screaming it from the rooftops and issuing a PR stating as much.
I would imagine the outstanding to be HIGHER than 593 million.
Thanks, capted. I do understand and appreciate your expertise as a treasure hunter & captain yourself.
I never expected MEXP to go out and find treasure this week, rather I expect them to follow through on their PR's. From what I've seen, publicly traded pink sheet deep sea treasure hunting companies like to PR all the treasure they've discovered, but I've yet to see that transfer into long term valuation for investors.
The unfulfilled LOI's, the hint of intellectual property income with no follow up, the gagged TA which happened to correspond with their latest PR, Scaglione's various statements, the paid promotions that normally accompany MEXP news, etc. The 1:500 reverse split was particularly brutal as well. By any chance did the company management give any reason for that reverse?
Those, IMO, are all red flags.
Good Morning, Count.
I wrote to MEXP 2 weeks ago, but unfortunately have received no response.
Stock trader, MEXP has recently been touted from .0016 down to .0004, the new 52 week low. If you're in it for a quick trade, it might be realizable. They've used paid promoters as recently as a month ago, I'm sure they're not above promoting it again.
MEXP has no earnings. There is no legitimate valuation. It would be difficult to project its future performance because it's not certain there will be any. The management has no track record in marine salvage, although it's been been said Michael Scaglione has played a part in and made a sizeable profit running scams. To calculate MEXP's credit risk would be off the charts. We don't even know the true share structure because it varies widely depending on which company officer you're listening to. The TA is gagged as well.
Is it flip worthy? Most pinks are with a promotion. But fundamentals? It has none. IMO.
Good luck to you.
Capted, I truly appreciate your opinion but I've yet to see anything but paid promotions and various PR's about MEXP's reorganization; frankly they've done nothing to gain investors trust. Dating back a few months, they issued a news release that they had entered an LOI to buy shares in Parque Cibernetico. Next they PR'd they had some vaque technology applications which have high intellectual property POTENTIAL. Then another LOI was PR'd regarding acquiring a villa/marina and a nine hole golf course. Also, once the paid promotions began, the company gagged the TA. We all know there's only one reason a company gags a TA.
The original LOI hasn't been spoken of since. We never heard more about the intellectual property either. Mark Goldberg said he had a new famous board member to announce too, but never heard more on that. This last LOI was accompanied by a paid promotion which was readily visible without any effort. Nothing has come of that.
Michael Scaglione stated we are still in a partnership with Burt Webber. Several people on this board say there is no partnership. I would think that's a pretty black & white issue, either he is or he isn't a partner/joint venture/associate/involved with the company.
Scaglione made it sound like they had the boat, were on the process of hiring the crew, and were on the verge of fueling the boat to go hunt for treasure. Nothing he said in that interview has come to fruition. We don't know if the boat is ready to go, we don't even know if they've paid all their dock fees. We know they haven't paid their divers but then they say their joint venture partner owes that bill, even though the case is in court with no ruling, so maybe they do and maybe they don't.
We don't know if they have a permit, a crew, or a workable boat. It's all just conjecture at this point, and frankly their track record (both old and "new") isn't so great. Meanwhile everyone thinks they got a great price on MEXP, but that price just keeps dropping.
We can wait and see what the next PR is, but it seems that MEXP could at least clean up or finalize some of their previous PR's first. IMO.
The Count previously posted this from the Texas A&M Ship Reconstruction Lab. Interesting reading.
Treasure Hunting - Frequently Asked Questions
By Filipe Castro
1. Can treasure hunters do archaeology with high standards?
No. The aim of treasure hunting is profit and treasure hunting companies depend on investor's money. In a normal competitive environment investors prefer companies that yield better returns on their investments. It is an indisputable fact that careful excavations are more expensive than the quick salvage of artifacts with market value, and companies that try to follow good archaeological standards will not survive long in any informed market.
2. Can archaeologists and treasure hunters work together?
No. Like any other professionals, archaeologists are bound by a deontological code. No deontological code accepts archaeologists selling artifacts to pay for the excavations. And no deontological code allows archaeologists to lower their standards of practice so that their bosses can make a better profit.
3. Can archaeology be conducted by private organizations?
Yes. The Institute of Nautical Archaeology is a good example. Entirely private, the Institute of Nautical Archaeology has pioneered the field of underwater archaeology for over three decades without ever selling one artifact.
4. Why should archaeological collections be kept together?
For several important reasons:
Because artifacts are normally part of assemblages and alone are frequently meaningless;
Because artifacts are always different from many points of view;
Because the study of assemblages of artifacts is always evolving;
Because as technology evolves artifacts can yield more information if tested with new techniques;
And because there is no need to sell them.
5. Should less developed countries allow treasure hunting ventures in their waters when they cannot afford a high standard of archaeology?
This is one of the most preposterous arguments of many treasure hunting companies and representatives. This argument implies that poorer nations should not aim for development, education, or environmental protection (and their cultural heritage is directly related to these aspects).
6. Are shipwrecks a scarce resource?
Yes. A very scarce one. Only a certain number of ships were lost in each period, by each culture. To destroy them all now is to destroy the hope that future generations may look at their cultural heritage with their own eyes.
7. Given the fact that sometimes, if not protected, shipwrecks can be looted by sport divers, destroyed by fishing trawlers, or just decay with time, should it not be advisable to allow treasure hunters to salvage them?
No. To allow the salvage of shipwrecks is to add an additional factor of destruction to those above mentioned. It is a fallacy to pretend that treasure hunters would only aim at shipwrecks in danger of being destroyed by nature, fishing trawlers, or sport divers.
8. Are treasure hunters a real threat to underwater cultural heritage?
Yes. Many shipwrecks have been systematically destroyed by treasure hunters searching for valuables. We know far more about the Roman and Viking vessels than we know about Iberian vessels, so violent has been the destruction of these ships by treasure hunters.
9. Is treasure hunting really profitable as an investment?
No. There are two types of treasure hunters. There is a small, silent minority who really finds and rescues precious cargoes, and that goes largely unnoticed by the general public. The large, noisy majority who advertises its activity in the press, on the internet, and through PR agencies in search of ignorant investors rarely rewards its investors. P. T. Barnum once said that "a sucker is born every minute," and sadly many treasure hunting companies have ravaged the finances of many ill-informed investors who found it exciting to go search for sunken treasures in exotic seas.
10. Is there a future for treasure hunting?
No. More and more countries are forbidding this activity in their national waters. Also, most museums have adopted a ban on the purchase of items salvaged from shipwrecks.
http://nautarch.tamu.edu/shiplab/treasurehunters_04faqs.htm
My experience is that the ones with a gagged TA never turn out well for any investor. For example, there's another company in this sector with 2 billion AS; I'm sure many are aware of this company that's been around for 5 years. Ask longs how their patience worked out for them. IMO, patience in a non-reporting pink sheet company is not a good plan.
The gagged TA is just one of many red flags on MEXP. They have PR'd two LOI's and we're still waiting for an update on both. One of those is over 3 months old with no follow up. We've been told they're staffing the ship but truthfully we don't know that. We don't know when or even IF the ship is going out to hunt for treasure salvage. Plus the pps is at or near a 52 week low, down -28% today.
Your opinion is mine as well. MEXP has more tricks up their sleeve than David Copperfield.
"Fool me once, shame on you. Fool me twice, shame on me."
The Stockhousegroup interview with Goldberg has the CEO stating the MEXP float was under 100 million. Yet the company states the float is approximately 282 million.
How many discrepancies over share count can one publicly traded company have?
Except with this LOI/merger candidate would come felon Richard Roon, and an association which can't be mentioned that has long ran shell companies traded on the pink sheets, yet no long term investor has ever seen a positive return.