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Well the deal is this. They need short term financing, and long term expansion financing. They could conceivably sell an asset right now, as there are no secured debt instruments tying up assets, that I know of. What asset, or % of an asset, I do not know. They have more than one asset. They could do a mixture of things. They could JV the completion of just this well for cash.
I think part of the delay may be that they have too many options (versus too few, which is what the market price is saying(1)), and they are negotiating with various parties for the best deals, playing one off against the other?
But the low market price is also in part due to the recent market wide sell off, so it is not just MNLU. Hell AA pays a dividend and I lost $7 out of $18 on the price of those shares the last 6-7 weeks at the recent low!
I do not think that is the entire story now. I think people are putting a higher value on AEXP than MNLU right now, which is a change, flip flop, in the trading patterns. Simply put, MNLU has a lot more debt that AEXP right now, and some are selling into fear that MNLU might fail to raise the needed cash, no matter how far fetched that idea is. It goes like this. IF, and I mean IF (I do not really think it is possible here), MNLU failed to raise the cash, AEXP still has leases and 8% of the well, and Guggenheim has cash and owns 12%? (IIRC?) of the well. Assume MNLU closed the doors, or sold off the well to pay debts, or whatever, AEXP is still left with a lot of leases and very little debt.
The entire idea is silly, I know, as we know MNLU would never let it get that far, but some people must be seeing less risk today in AEXP on that basis, the last 2-3 weeks in fact, as AEXP use to allows be cheaper than MNLU on the 4:1 stock swap merger deal, now it is the reverse.
Most of us here are not day traders, but long term investors, at least as far as this stock is concerned. Many of us have been here a long time, and we have years of history with this little company, and good reason to keep the faith with this little gem. So when a day trader runs in and screams fire, we tend him hose him down.
I had good reason to suspect this stock was a scam 3 years ago when I first found it, and I posted my concerns then too, but every time I dug deeper and deeper, the more impressed I got with what was and is now under the hood.
If you want to day trade, this stock is nearly useless for about 11 months out of the year, so far at least. But IMHO if we ignore the Lafarge pilot plant start up delays, this company is worth far more today, than it was 3 years ago, and the stock OS is still very small. Larry, the CEO of MVTG has worked very hard, using his own blood, sweat and cash along with investors to keep the core technology under our control, and to keep the OS count low, and not to sell off the core technology for chump change, like 3M tried to convince them to do a little over 2 years ago.
If you look at the history (like the SEC letter filed by 3M's VP of Technology about 3 years ago, filed with the SEC announcing their JV development intentions), you will see that big money knows MVTG has the real McCoy. But when you are little, and have very little cash, you need to take small, carefully measured steps less you get stomped on by the elephants in the room.
And that takes more time, than a company flush with cash to throw around takes. I invested in other start ups that were flush with plenty of cash, and got burned as the staff lined their pockets with the cash and failed to pay enough attention to details. Larry is paying very close attention to the details on this one, and this is a real technology opportunity!!!! It is not a typical penny scam operation with no real technology, or no real substance behind it, but it is instead a real honest effort to make a cutting edge new technology start up with a future.
One thing I am grateful for is Larry's tenacity!!! Some have been here longer than I have, since the stock traded around .30, and I must admit feeling a bit of pain myself when the stock looked like it was getting hammered at .04 recently with no news, so I can just imagine how they felt.
But every time I re-examine why I invested here, and what if anything has changed, I decide to stock (LOL, Stick) it out and hang tough with this one. There are others I given up on, but not this one.
Some one just paid a .292 cent price for MNLU shares by buying AEXP at .073!!!!!
Real interesting how AEXP amd MNLU price have been flip flopped for about 2 weeks now, compared to the last year!
Time for some one who shall remain nameless (LOL) to dump a few million more shares on us at the close?
"is there anybody, anyway to trust any stock in the friggen world or what? "
That is the real question, as I see no reason to trust the short writer either. In fact his point that the SAIC document can be faked, makes me wonder about the authenticity of any of the short writers posted SAIC documents!!!! In other words, I think he shot himself in the foot shorting Harbin, and admitting it, while trying to post versions of SAIC reports, and asking which one is the fake? How do we know he did not fake them?
We are all frustrated, but some things take more time than others, and the Lafarge MVTG pilot plant is one of those. Most people do not realize how much design work (and time) goes into designing a pilot chemical plant. While the MVTG reactor design itself is complete and has been tested, and the reactor capacity can be scaled up by adding duplicate modules in parallel, the infrastructure design at Lafarge to capture, purify and feed CO2 at LaFarge to the MVTG reactor, pilot plant utility supply design, etc., is/was not ready.
The first pilot plant always seems to take forever (I am speaking from experience). This one is, will be no exception. In this case they also had to deal with funding the pilot plant costs and day to day expenses, and the design work for the support systems (CO2 capture....) which also creates a chicken or egg syndrome issue as well.
So it really seems like it IS taking forever. But Rome was not built in day. While I might wish Larry passed out more frequent PR updates, there is little we can do about it, but wait, and in the past most of the fluff PRs, have had little effect on the stock price or volume.
So, in the current case I think you have it backwards, the last 4 months or so they have been "no talk", and all action (but it has been behind the scenes action), versus "all talk and no action".
But until we have a PR, or PR's from MVTG directly all we can do is wait, or pack our bags and move on.
I choose to wait!
Sorry to hear that. Some things are just taking longer to do than we all expected. This never really was one for day trading or short term gains. It has always been a long term play. Nothing other than the wait time has changed here. The low volume is because most people that buy this one never sell. That also makes for huge spread in a news vacuum.
But if you have not sold yet, I would suggest waiting just a little longer.
Not too many wells around at 22,000 feet to compare this one to that I know of?
Will the real "liars" please step forward!
http://seekingalpha.com/article/289550-harbin-electric-who-allegedly-doctored-saic-reports?source=email_global_markets
This article should affect us all, even SCEI! Put on your rally caps!
Will the real "liars" please step forward!
http://seekingalpha.com/article/289550-harbin-electric-who-allegedly-doctored-saic-reports?source=email_global_markets
This article should affect us all, even JGBO!
Will the real "liars" please step forward!
http://seekingalpha.com/article/289550-harbin-electric-who-allegedly-doctored-saic-reports?source=email_global_markets
This article should affect us all, even CRTP! Put on your rally caps!
Will the real "liars" please step forward!
http://seekingalpha.com/article/289550-harbin-electric-who-allegedly-doctored-saic-reports?source=email_global_markets
This article should affect us all, even CCME! Put on your rally caps!
Will the real "liars" please step forward!
http://seekingalpha.com/article/289550-harbin-electric-who-allegedly-doctored-saic-reports?source=email_global_markets
This article should affect us all, even ABAT! Put on your rally caps!
I already got a reply to my email!
Marc says it has already "been handled"..."just takes a few weeks for their system to update the status".
Gerry told me about 6 months ago that this well is mostly dry NG, little if any CO2 (or said another way, not going to have a CO2 problem, or acidic gas problem as far as they can tell so far), and no problems with HS gases based on the current data (pre frac). That is of course all pre-frac data. But so far they bought hardware assuming there would be problems with acid gas corrosion just be safe, which is one of the reasons the well was so costly, as it was the first one, and an unknown. Future wells would be a lot cheaper.
My sources tell me that MNLU can make good money on this well at $4 and can survive on NG prices as low as $3.
Add to that the fact that they have been in the product development mode for about 11 years, and have only issued about 50 millions shares in that time, as they have kept expenses way down, and now they have issued patents even in China, and multiple license deals under way on the detonation cycle engines with huge firms in the east, China and Japan (one in China is owned by Mitsubishi in Japan IIRC), and now the hydrogen generator marketing deal, all of which are real hardware, not smoke and mirrors, and not vapor ware or perpetual motions BS, this is a great price and time to buy. IIRC the price has never fallen under .10/share in 11 years! It was up at 70 cents about 18 months ago!!!
Only reason we are on sale so cheap here is the market wide fear (as you mentioned), and the lack of any actual revenue so far, and a 6 month slow news cycle we just emerged from with TTEG. But I have seen similar firms command a market cap of 3-10 times this one's in similar situations.
I spent well over an hour on the phone with Marc about 6 weeks ago. So you can drop the no response act. I am emailing him now.
????? Why post that here? Why not email Mark directly?
They have proven reserves (assets) in Louisiana that are valued at about 10 times the current debt, so unlike DUNR which has huge massive debts and interest payments, this one is not going under, or walking away. The BP well will get fracked and connected. The only unanswered question is what will the financing cost.
If we get just a little bit lower, like .15/share, I will be selling the ranch and loading the second boat here!
Eco is not selling!!!!
I doubt that very seriously. In fact I doubt it will fall past .15, if it even gets that low. At .20/share it is already down to a market cap of only 16 million dollars. Some of the Lousianna properties are valued at about about 43 million dollars alone according to a valuation study they had done about 12 months ago.
Post away, I am still waiting for my orders at .005 to fill!!!
LOL, note that I am trying to be optimistic, LOL.
While it could still drift lower, this is a pretty good bargain here. I hope you all have been buying here and not selling here, as this price puts a market cap on MNLU of about 16 million dollars, which is nearly what they spent on drilling the one BP #1 well this year, much less all the other value the company holds in leases.
I really don't know if I can BEAR this any longer!!!!!
It is getting un-BEARable,
LOL
LOL, and yesterday you were pissed at me!!!
LOL
I think it is time we sent him on a hunting trip with Dick Cheney. Buy him a one way ticket.
Actually I am the one that crashed it, by not buying shares until they dropped under .01!
ROFLMA
You need to go back and read the last 30 months of PRs, they have major deals already in place, several in China (for small motorcycle, medium sized truck, and huge mining operation engines, like 5000 HP) and one in Japan. They also have a pending (but delayed) merger deal with a China parts OEM company that is already profitable.
I would rather buy here at .22 than in a few weeks at .3 or .4/share. Does that answer the question?
Or they plan to ram rod the merger finally to enable funding? It has occurred to me that some funding offers may want to see the merger agreed to by stock holders of both companies before they fund a JV? Either way, it sounds bullish right now.
The first thing he needs to do is hire an accountant or learn how to do real accounting. The EGOH financial statements he submitted are absolute BS. The last 2 quarterlies don't even look like the same outfit, and there is no path information as to how they got from one to the other. I can't even tell what all the liabilities are, or what liabilities were added or eliminated. That last quarterly is a joke! I don't see how any credible organization could do business with an outfit like this?
From my email inbox late today (see the quote below) This reminds me that Gerry and I chatted about our shared opinion that the shallow wells, ones close to drinking water, and near municipal operations that are being drilled my MNLU NG Shale competitors are likely to have some obstacles thrown in their path (see the details below), while the BV field and well is so deep Over 4 miles IIRC), is not going to be a horizontal frac, and is so remote, that no one will bother us. Their loss, could be our gain!!!!!
That report, and the numbers look nothing like the prior one. Something smells rank and vial here.
I find it very interesting, and possibly telling that the time extension for the merger with AEXP announced today, was only a two month extension this time, not 3,4 or 6 months. I probably would not have done that unless I was nearly ready to mail out the proxy's?