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.02 bid .022 ask eom
Have no doubt, as I continue to add, hopefully for the good,
that,
MLXO gets something cooking.
Just making conversation here and Investo7, I know you are a long, by your readings.
cheers!
Investo, there are some big names on pinkies, not a big deal.
MLXO does need to make a statement to shareholders as to whats up.
8-K, or the 10-K
or, a PR "Letter to the shareholders"
JMHO
Investo7, is there any weekly inventory list of shareholders
that MLXO can buy to discloses positions?
Investo, I saw both, & preferrably
I like quotestream over alphatrade and emailed the co and asked when are they going to offer pinkies,
they emailed back stating shortly,
who knows!
Investo, lately, I have seen many pinks outperform other otcbb's, this and that, and this that and the other.
Besides, I like the valuation on entry at this .04's or less on MLXO for the risk/reward factor, JMHO.
To me, just a matter of due process. JMHO
harr, you missed your decimal point on WTR call,
Just for the record ::))))))), so far, he nailed it.
If we go sub penny, maybe for ten or twenty grand I can buy the whole company and put out my own pr. Heck with 8-K's.
Kidding,
I am going to cancel quotestream for 35 bucks a month and hook up alphatrade for under 50 buckies a month that
displays real time pink level two. alphatrade has free 7 day lookie. I am not affiliated with em, just a subscriber maybe.
Not quite sure on alphatrades prices, but sure feel naked without level 2, I can always switch back if need be.
Good Luck and do your own D>D>
Lot of trades printed at .02 today, eom
WTR, this buys me time to accumulate :) eom
wantoberich, it took almost an hour to fill us.
It was a toughy, paitence paid off not to chase it.
An hour is a LONG time when you have money and want something.
try .0161 eom
looks like mm's put the brakes on at .015 eom
this is from their 8-K, 4-13-2005
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001013762%252D05...
4.18 Purchaser's Rights if Trading in Common Stock is Suspended. If the Common Stock is listed on any exchange, then at any time after the Post-Closing if trading in the shares of the Common Stock is suspended on such stock exchange or market upon which the Common Stock is then listed for trading (other than as a result of the suspension of trading in securities on such market generally or temporary suspensions pending the release of material information), or the Common Stock is delisted from the OTCBB, then, at the option of the Purchaser exercisable by giving written notice to the Company (the "Redemption Notice"), the Company shall redeem, as applicable, all of the Debentures and Underlying Shares owned by the Purchaser within seven (7) Business Days at an aggregate purchase price equal to the sum of:
(i) the product of (1) the average Per Share Market Value for the five (5) Trading Days immediately preceding (a) the date of the Redemption Notice, (b) the date of payment in full of the repurchase price under this
Section 4.18 recalculated as of such payment date, or (c) the day when the Common Stock was suspended, delisted or deleted from trading, whichever is greater, multiplied by (2) the aggregate number of Underlying Shares then held and owned by the Purchaser;
(ii) the greater of (A) the outstanding principal amount and accrued and unpaid interest on the Debentures owned by the Purchaser and (B) the product of (1) the average Per Share Market Value for the five (5) Trading Days immediately preceding (a) the date of the Redemption Notice, (b) the date of payment in full of the repurchase price under this Section 4.18 recalculated as of such payment date, or (c) the day when the Common Stock was suspended, delisted or deleted from trading, whichever is greater, and (2) the aggregate number of Underlying Shares issuable upon the conversion of the outstanding Debentures then held and owned by the Purchaser utilizing the conversion procedures contained in the Debentures (without taking into account the Limitation on Conversion described in Section 4.17 hereof); and
(iii) interest on such amounts set forth in (i) and (ii) above accruing from the seventh (7th) Business Day after the date of the Redemption Notice until the repurchase price under this Section 4.18 is paid in full, at the rate of fifteen percent (15%) per annum.
This one goes pink Weds morning? eom
OTCBB Issuers that Repeatedly File Untimely Financial Reports May Face Ineligibility for One Year
http://www.otcbb.com/news/2005/GeneralNews/threestrikes.stm
Summary
OTCBB issuers that file late periodic reports three times or are removed for filing delinquency two times in a 24-month period will be ineligible for OTCBB quotation for one year.
The proposed rule amendment is anticipated to be effective for filings with a period ending on or after June 1, 2005.
Contact information
Background
NASDAQ® recently filed a proposal with the Securities and Exchange Commission (SEC) to amend NASD Rule 6530 (the “Eligibility Rule”), which requires OTC Bulletin Board® (OTCBB) issuers to file timely periodic financial reports. The proposed change would make those OTCBB issuers that are cited for filing delinquency three times in a 24-month period and those OTCBB issuers removed for failure to file two times in a 24-month period ineligible for quotation on the OTCBB for a period of one year.
This change was proposed to help further the original goal of the Eligibility Rule, which is to protect the public interest by ensuring that timely financial information is routinely available to investors.
NASDAQ anticipates implementing the proposed rule in connection with filings for periods ending on or after June 1, 2005. Delinquent filings prior to that period will not count towards the new rule. Therefore, upon implementation, no issuer would be made immediately ineligible from continued quotation on the OTCBB. For full details concerning the proposal, click here for a copy of NASDAQ’s filing with the SEC.
Contact Information
For questions or more information regarding this proposed change, please contact:
OTC Bulletin Board, at 301.978.8263.
--------------------------------------------------------------------------------
The OTC Bulletin Board (OTCBB) is a regulated quotation service that displays real-time quotes, last-sale prices, and volume information in over-the-counter (OTC) equity securities. An OTC equity security generally is any equity that is not listed or traded on NASDAQ or a national securities exchange. OTCBB securities include national, regional, and foreign equity issues, warrants, units, ADRs, and Direct Participation Programs (DPPs).
NASDAQ is the world’s largest electronic stock market. With approximately 3,300 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to category-defining companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology industries. NASDAQ is the primary market for trading NASDAQ listed stocks. Approximately 51% of NASDAQ-listed shares traded are reported to NASDAQ systems. For more information about NASDAQ, visit the NASDAQ Web site at www.NASDAQtrader.com.
The OTCBB.com website and OTCBB File Transfer Protocol (FTP) site will be unavailable this weekend. The servers will be offline for maintenance beginning on Friday, May 20th at 8:00 pm EST through Monday, May 23rd at 7:30 am EST. Users will not be able to access the web site or FTP site during this time
http://www.otcbb.com/news/2005/GeneralNews/wkndoutage.stm
Standby Equity Distribution Agreement
The Standby Equity Distribution Agreement ("Standby Agreement") is a recent innovation in small-cap financing. Under the structure, Cornell will provide a firm commitment to purchase an agreed upon dollar amount of a Company’s shares, in a series of small tranches or "advances". The commitment would be available up to 2 years, renewable thereafter. The program is entirely controlled by the Issuer.
Once effective, the Company can raise capital "on demand", at prices the Company deems appropriate. This is a significant improvement in flexibility compared to a straight equity purchase or convertible structure in which price/conversion is controlled by the investor.
Benefits of a Standby Equity Distribution Agreement:
Control
Issuer retains complete control over the amount and the timing of each advance.
Certainty
Issuer has the right to sell shares and Cornell has the obligation to buy the shares.
Flexibility
Tailor-made structure to match an issuer's unique financial needs. Allows issuer to match the sources to the uses of capital in a pro-active manner.
Anti-dilutive
Issuer can raise no more than what is necessary. Dilution is not incurred beforehand, as in traditional equity placements.
Low cost
Issuer can raise more capital for less shares over a period of price strength. Higher issue prices result in lower cost of capital. No non-usage fees or break-up fees.
Safety net
Ideal for risky projects. Cost overruns or revenue shortfalls can be adjusted with instant financing to maintain healthy cash balances at the end of reporting periods.
http://www.cornellcapital.com/services/Standby_Equity_Distribution_Agreement/index.asp?Section=2,0,0
Re-reading form N54-C, 12-29-2004, an exerpt:
Michelex Corporation is filing the notification to withdraw its election under section 54(a) of the Act for the following purpose:
Michelex Corporation has modified its plan of operation and investment objectives and policies through a majority vote of the shareholders, and, for such reason, is filing the notification to withdraw its election under section 54(a) of the Act, The Company intends to focus on developing the underlying divisions of the Michelex Corporation (Michele Audio Division, Michelex Plastics Division, and Michelex Media Products Division) to achieve growth and add value to the shareholder and does not intend to acquire new operations in additional portfolio companies.
This action was authorized by 58.71% of its outstanding voting securities by consent of the shareholders on December 22, 2004.
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001013762%252D04...
Re-reading MLXOe old news, while waiting for 10k
October 26, 2004--Michelex Corporation (OTCBB:MHXC) is pleased to announce that it has finalized agreements to acquire equipment from Nepco, SA, a major plastics products fabricator located in the Lisieux Region of France.
Michelex expects to boost capacity by 5-6 Million units per month. The additional equipment will primarily expand the production of CD packages. The extra fabrication capacity should result in an increase in annual revenues of approximately $9-10 Million.
"I believe this acquisition is a significant milestone for Michelex, which has nearly 35 years of history, and is part of our on-going strategy to grow the company into a dominant plastics manufacturing company. We feel we have the best products available, now we'll be able to better meet the needs of future and existing clients. Because current global demand for our products is so strong, this transaction will help improve the bottom line, due to enhanced margins and added revenues," said Tom Gramuglia, Michelex director and vice president.
About Michelex
Michelex Plastics -- Founded in 1972, is a manufacturer/importer and distributor of C-Zero's, C-Shells, Norelco Boxes, Jewel Boxes and other related specialty plastic products. The company has manufacturing facilities and distribution points in New York and Salt Lake City. The company employs over 100 people who are committed to the customers and to the operations of the business. Michelex offers a full range of products through its divisions to make it a one-stop shop for its customers.
Michele Audio -- Audio duplication services and an exclusive rights holder of a large catalog of music and spoken word recordings.
Michelex Media Products -- Producer, supplier and distributor of paper multimedia packaging products, also offering complete fulfillment services to its customers.
For further information, www.michelex.com
CKCR, this is yesterday news about the
300 mil financing
http://www.courier-journal.com/apps/pbcs.dll/article?AID=/20050518/BUSINESS/505180407/1003
How many shares do the insider's own?
Thinking the 2003 10K stated 31 million approx, I haven't came across anything else.
Be crazy for them to let mlxo go pink.
ok, well stated, eom
new2005, are you or your associates shorting this?
doom and gloom is YOUR topic on your IHUB history of posts for
Michelex Corp MLXO/MLXOe
ISP check 1,2,3 ...kick it back!
Reading the drudge report this morning, found
Ike Boutwell
http://www.drudgereport.com/
http://apnews.myway.com/article/20050517/D8A585502.html
For or Against, seems to be the argument,
I am For. My thoughts, going to get very interesting, soon.
As far as pinks, I have seen many pinks 10x plus or more, so that is no issue to me.
The hard time I weigh out in my eyes is some of those that are against, or maybe short, are those that post negative posts with HUGE conviction, yet they are IHUB freebies
born recently, they post short sporatic posts to deceive.
Guessing speculation will be over soon.
JMHO and good luck
MLXOe, looking at the last couple bottoms per chart
30yr company in business, cornell maybe, maybe not per rumors
12 mil revs, 15 mil assets per 10Q sept 04, waiting on K
Looking at the washout candle, and the white candle next after, before each move (per prior trading patterns) could get jiggy, waiting on VOLUME, good luck
alley, hard to tell, I had a hard time filling when
I first entered,
waiting to see today's candle at closing
cmf positive is a good sign
alley, I am kicking myself for not grabbing yesterday at the
.027's area,
Next walkdown I will not miss out
FLCR, one of your old positions, on radar, chart
MLXOe chart
Aroon line heading North, green ADX moving positive, PPO moving positive, and keep an eye on CMF
http://www.investorshub.com/boards/read_msg.asp?message_id=6235648
MLXOe chart
Aroon line heading North, green ADX moving positive, PPO moving positive, and keep an eye on CMF
http://www.investorshub.com/boards/read_msg.asp?message_id=6235648
MLXO annotated chart
courtesy of another board member
Investo7, let's see, per the Sept 30, 04 10Q, an exerpt:
cut and past from below readings, sales of approximately $15,042,800 for this division. (forecasted ???)
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001010412%252D04....
CONSOLIDATED BALANCE SHEETS
September 30, December 31,
2004 2003
ASSETS
Current assets:
Cash $ 77,956 $ 225,825
Accounts receivable, net 1,868,633 3,575,495
Accounts receivable related party 962,677 760,748
Inventory, net 2,065,821 2,446,633
Restricted cash 121,729 --
Prepaid expenses and income taxes 585,183 160,840
------------ -------------
Total current assets 5,681,999 7,169,541
Fixed assets net of accumulated depreciation
and amortization of $20,772,383 and
$20,318,859, respectively 7,849,377 9,573,153
Other assets:
Land and building held for investment 148,429 148,429
Loans receivable related party 18,195 90,772
Other assets 164,021 286,730
Deferred taxes 1,334,464 622,509
------------ -------------
Total assets $ 15,196,485 $ 17,891,134
============ =============
Plan of Operation.
Based on a review of the Company's operations performed by management during the fourth quarter of 2003, management developed a turnaround plan designed to return the Company to profitability. During the first nine months of 2004, management has initiated several of the strategies enumerated in the Company's plan of operation, which is summarized in the following pages. An integral part of management's review included an evaluation of the Company's strengths that could be employed in the execution of the turnaround plan. The Company's strengths identified by management include:
* a loyal and diverse customer base;
* infrastructure capable of producing, importing and selling at more than double the current volumes;
* well established channels of distribution;
* management and technical personnel with a broad base of diverse industry experience;
* a diverse and well established network of industry contacts, vendors and suppliers; and
* a broad range of products with strong market demand.
To facilitate the Company's return to profitable operations, management has formulated the following turnaround plan for the 2004 fiscal year:
* Increase the percent of import products in the overall product mix;
* Improve profit margins on low margin products;
* Focus financial and operational resources on high margin products;
* Increase sales to existing customers through cross selling of products;
* Implement divisional sales plans to increase sales to new customers;
* Reduce operating expenses through increased operational efficiencies;
* Optimize asset utilization through diversification and disposition of non-productive assets; and
* Maximize the utility of technology-based operational and sales tools.
Each of these strategies is discussed in greater detail below as they apply to each of the Company's three divisions. The elements of the plan incorporate fundamental business practices; however, the success of the plan depends on the implementation and monitoring of each strategy and the success of management in securing sufficient working capital and import letters of credit to facilitate the plan.
Michelex Plastics Division.
The Michelex Plastic Division imports, manufactures and sells plastic injection molded media packaging products. This is the largest of the three divisions in terms of revenues, personnel, and infrastructure. Actual revenues for this division accounted for 71.2%, 65.1%, and 66.4% of the total company revenues for the 12 month periods ended February 28, 2002, February 28, 2003 and December 31, 2003 respectively. Revenues for this division in the first quarter of 2004 accounted for 66.7% of total sales. Given the relative size of this division and the impact it has on the overall Company, returning it to profitability is a key objective of the Company's turnaround plan. Following is a brief description of the strategic elements of the plan devised for the Michelex Plastics Division.
Increase Product Imports. Although management identified the benefits of augmenting domestically produced products with a balance of imported products years ago. However, since 1999, a period in which raw material prices and production related expenses have increased dramatically, import product sales have declined from approximately 32.9% of the plastic division sales for the 12 months ended February 28, 2000 to approximately 24.5% of the plastic division sales for the 12 months ended December 31, 2003. Typically the imported products are specialty items that sell for higher prices per piece, require minimal additional expense by the Company, and produce higher profit margins.
Management believes increasing the amount of import products as a percent of the total Michelex Plastic Division sales is one of the most critical elements of the Company's overall turnaround strategy. For the 12 months January through December, 2004, the Company has projected total product sales of approximately $15,042,800 for this division. This represents an increase of approximately 10.8% as compared to the same period for 2003. Of this increase, 73.7% is from import product sales. Management has projected import product sales will constitute approximately 25.8% of the total division product sales for the 12 months ending December 31, 2004.
The advantage of import products varies within each product line of this division. Management has focused on changing the mix of imports and domestically produced products on the product lines where it believes the most benefit can be derived.
The most significant changes have been made in the Jewel Box and Tray product lines. Production of domestically produced Jewel Boxes and Trays are forecasted to decrease, while imported pieces are projected to increase. The projected declines in pieces of import C-0's and domestically produced Norelco Boxes are the result of a shrinking market for these products. Management has projected a small growth in Video boxes (3.4%) for 2004 due to the declining overall market. However, the Company is currently evaluating an opportunity that could result in a dramatic increase in domestically produced Video Box sales.
The significant projected increase in the domestically produced C-Shell product line is based on a strong market demand for the product. To meet the current demand the Company has ordered and will take delivery of two new molds in the first and second quarters of 2004 to enhance production.
Within the DVD product line management has projected an increase of both domestically produced pieces and imported pieces. As with the C-Shell product line, demand for the DVD boxes remains strong. The Company plans to maximize the production capacity of the one DVD mold it currently owns during 2004. The DVD boxes the Company imports are being produced on molds owned by Michelex. The cost of these molds is being amortized in the cost of the imported pieces purchased. It is anticipated this cost will be completely amortized in the third quarter of 2004 and the cost of imported DVD Boxes will drop significantly. No adjustment has been made in the projections to reflect the impact of this change. Management is confident that with import letters of credit available, the Company has the infrastructure and resources in place to effect the projected changes.
Increase Product Prices. A preliminary review of customer pricing in conjunction with a recent review of domestic and import product costs has indicated the need to selectively implement a price increase. Given the nature of the Company's existing customer base, management believes an across the board price increase on all products to all customers is not feasible. Management has initiated a program to review each customer to determine the cross section of products the customer purchases, the volume purchased of each product line and the customer's current pricing structure. Price increases will be based on the results of this review. Price increases have already been initiated on several customers, including two of the Company's largest customers. In conjunction with the price increase program, new guidelines have been established for new customer product pricing and two new accounts have been acquired at significantly better pricing than has been historically achieved. Management has included modest price increases in the sales projections for certain product lines.
Increase Sales to Existing Accounts. In conjunction with the customer file review noted above, each customer file is being reviewed for the potential to sell additional product lines from the plastic division as well as products from the other divisions. Management believes this will prove to be an efficient and cost effective tool to generate additional sales and promote improved customer relations. An important aspect of this and the other strategies related to increasing sales is a constant supply of all product lines. This aspect ties directly into the revisions of the import and production strategies.
Increase Sales Through New Business. Included as integral elements of this turnaround plan are the addition of two new sales staff positions, production of a new product catalog, upgrades to the Company's website, additional media advertising and trade show related expenses. The primary focus of these positions will be the acquisition of new accounts. Additionally, the Company is currently evaluating the feasibility and cost effectiveness of diversifying and domestically producing two new specialty products for two large retailers.
Reduce Production Related Expenses. Management is continually in the process of reviewing the Company's production operations and the costs associated with these operations. Increasing costs, especially in the areas of raw materials (primarily polystyrene), freight expense and insurance coverages couple with increasing cash flow constraints have negatively impacted the Company's ability to maintain efficient production operations. Although polystyrene prices are projected to continue to increase, management believes reducing inefficiencies in operations coupled with a consistent supply of polystyrene will result in reductions in the total cost per unit of the Company's domestically produced products in 2004.
Management's plan contemplates a reduction in the number of units of certain domestically produced products, securing a consistent supply, grade and quality of raw materials, and closer monitoring of the production processes. Management is continuing to monitor and evaluate the potential for future increases in the cost of styrene. In conjunction with this, management is also evaluating the feasibility and cost of importing a percentage of the standard jewel box and tray requirements that are currently produced domestically. Importing a portion of these product lines will reduce the Company's exposure to availability and price fluctuations of styrene and increasing production related expenses. Additionally, reducing the number of domestically produced units would enable the Company to contract and consolidate its production operations and concentrate on producing higher margin products (such as C-Shells and DVD Boxes) thereby optimizing the cost per unit of the remaining domestically produced products.
Reduce and Control Sales and Administrative Expenses. Management is currently in the process of reviewing all sales, general and administrative expenses. The Company intends to consolidate certain overlapping administrative functions within the divisions and streamline its financial and management reporting processes. The purpose of this review is not to arbitrarily eliminate expenses but rather to improve the productivity for the resources expended on these functions. This is especially true with respect to the sales and marketing expenses where management has projected increased expenses for fiscal 2004 to add additional personnel and increase media exposure. Management believes it is important for the Company to re-establish itself as a reliable supplier of quality products within the media packaging industry with existing, previous and new customers.
Optimize Asset Utilization. Although the Company has a substantial asset base, several of the assets are not currently generating revenues for the Company. Management has initiated a review of all of the Company's assets and will evaluate each one with respect to its potential to profitably generate revenues. Thus far, management has identified three properties that are being considered for disposition. Selling these three parcels could reduce the Company's total debt by approximately 10 to 15 percent and also enhance cash flow. Management is fairly confident two of three properties can be disposed of. However, the third parcel is located in Salt Lake City and may be more difficult to sell in the immediate future. The premises are leased however, and the lease payments help offset the carrying costs of the facility. The Company is also evaluating the feasibility and cost effectiveness of selling certain of its current production assets and replacing them with newer, more efficient and less labor-intensive equipment.
Michele Audio Division.
This division is involved primarily in the duplication and packaging of music and spoken word communication products. During the fiscal year ended February 28, 2003 this division accounted for approximately 34.5% of the total company sales. For the 12 months ended December 31, 2003, this declined to approximately 28.0% of total company sales, a level that more accurately reflects recent historical sales. The elements of the turnaround strategy for this division are in many ways similar to those proposed for the Michelex Plastics Division and are described below.
Revise The Divisions Product Mix. This is the single most important element of this division's turnaround strategy. Historically the principal product line for this division has been cassette-based products. For the 12 months ended February 28, 2002; February 28, 2003; and December 31, 2003, cassette-based products have accounted for 83.3%, 79.9%, and 72.5% respectively of the total division sales. Although management identified the changing market dynamics several years ago, the Company did not aggressively pursue the CD and DVD market segments.
During 2004, the Company has adopted a strategy to aggressively pursue the CD and DVD market segments and has projected an increase of approximately 23.5% in CD/DVD product sales for the 12 months ending December 31, 2004, as compared to actual sales for the same period ending December 31, 2003. No increase was projected for cassette-based sales. Management has established 2004 as the base year for aggressively initializing this shift in product mix and contemplates the 2005 fiscal year will involve a far more dramatic shift in the product mix. The items discussed in the next paragraph are an integral part of this overall strategy.
Increase New Customer Accounts. In order to achieve the objectives set forth in the previous paragraph it is imperative that the Company initiates a sales and marketing program to aggressively pursue new accounts in the CD and DVD marketplace. The Division is currently in the process of restructuring its catalog and updating the Company's website to emphasize the Company's CD and DVD replicating and packaging capabilities. Additionally management is currently interviewing candidates for two new sales positions, one each on the East and West coast to specifically pursue new accounts. Management believes it can also use the reputation it has established as a high-speed quality replication and packaging source for cassette products as an effective marketing tool in this strategy.
Increase Product Pricing. Simultaneously with the review of the Plastics division customer base previously discussed, management initiated a review of the Audio division customer account base. To date, price increases have been obtained from several existing Audio division accounts. Management believes there may also be another opportunity on the horizon for cassette-based products. Although the market for these products is shrinking, so is the source of reliable quality suppliers. Although this may be a short duration opportunity, it could prove to be a profitable source of revenue during the transition period.
Reduce and Control Production and Operating Expenses. Management is in the process of revising and implementing changes for controlling, monitoring and reporting cost and production data. Additionally, the Company is reviewing its production scheduling process to more efficiently and cost- effectively facilitate the production of customer orders. As with the plastics division, management is reviewing all administrative functions to eliminate duplication and overlap with other divisions.
Management believes the turnaround strategies applicable to the Michele Audio Division are going to be the most difficult to successfully implement and integrate into the Company's operations. Although the Company has experience in CD replication and packaging, this element of the strategy is the most aggressive in terms of changing existing operation strategies and deviation from existing business practices within this division.
Michelex Media Products Division.
This division began operations in February, 2003, when Michele Audio Corporation took over the operations of the EnpacK Company. Since that time, this division has been the fastest growing and most profitable division of the Company. This division's products consist primarily of paper, vinyl, tyvek and board mailer-based media packaging products for use with CD and DVD media. Although the strategies outlined below are not technically categorized as turnaround strategies for this division, they are an integral part of the overall corporate turnaround plan.
Increase Website Related Sales. The Company has contracted a website design Company to assist in designing and implementing an upgrade to the Company's website and its links to other websites. Various market survey data reviewed by the Company and contact with new and existing customers have indicated the website is a very effective tool in this segment of the media packaging industry. The Company contemplates the website will be fully functional by the end of the second quarter 2004 and has projected sales generated through this venue will constitute approximately 27.8% of the total projected sales for 2004.
Continue the Growth of Wholesale Sales. Management is confident the growth in this area will continue. Demand for the product remains strong and the Company believes it can successfully cultivate additional business from its existing customer base in the other two divisions as well as pursue new customers. Additionally, management has projected adding two additional personnel in the sales department, allocated resources to create a new product catalog, and projected an increase in advertising and trade show expenses. The critical element in this particular strategy will be the ability of the Company to secure ample quantities of inventory to satisfy the customer's demands in a timely manner.
The primary focus in this business segment will be to maintain the sales momentum the Company has generated during the first year of operation and capitalize on the opportunities that currently exist.
Although management has and continues to vigorously pursue various sources of additional capital for the Company, as of September 30th management had not secured the funding contemplated in the development of its turnaround plan. As a result, management has been unable to fully execute the strategies detailed in the turnaround plan and the actual sales and pre-tax net income as stated in the consolidated statements of operations for the first nine months of 2004 (detailed in Part I of this filing) are below those projected in the Company's turnaround plan. Although the Company continues to compete with increasing pressure from products produced offshore in its market segments and is faced with continuing costs increases in certain raw materials and operating expenses, demand for the Company's products and services remains strong. It is management's opinion the primary cause for the Company's failure to meet its projected results of operations for the nine months ended September 30, 2004 has been the Company's inability (due to the lack of adequate working capital) to obtain adequate quantities of products required to fill customers orders. Management is working diligently with the Company's investment banking firm and financial advisors to identify and secure sources for additional working capital to enable the Company to fully execute the strategies of the turnaround plan and return the Company to profitability.
It should be noted that although management is confident that through implementation and execution of the turnaround plan the Company can return to profitability there is no guarantee the Company will receive the additional capital resources required to implement and execute the turnaround plan. As additional time passes the Company will continue to lose market share, incur additional operating losses, and increase its working capital deficit which may negatively impact the value of the Company's stock thereby making it more difficult for the Company to raise the capital required to fully implement its turnaround plan and return to profitability. If additional capital is not secured by the Company and the Company continues to operate at a loss there exists some doubt as to the Company's ability to continue as a going concern
(as noted in the December 31, 2003 notes to the audited financial statements)
and the Company may be required to significantly alter or completely discontinue operations.
Investo7, the company has over 100 employess with warehouses
you should know more than I,
this 8k is for a subsidiary of Michelex
http://www.michelex.com/IMAGES/usamap2.gif
IMHO, this 8k is frikin fabulous, but, JMHO
Let's see what the shorter's do in the a.m.
Fantastic 8K, hello, read this, shorters may not like it.
3. Wells Fargo will return the $37,500 annual line fee paid by Michele Audio on March 11, 2005.
Wells Fargo has agreed to Future Revolving Advances based upon the express terms and conditions set forth below.
8. Michele Audio will continue to make monthly payments on the Term Note when due.
This company has been in business since 1972, over 100 employees and how many warehouses across the United states
http://www.michelex.com/IMAGES/usamap2.gif
MM's give me a gift.
MLXOe Annotated chart taken from BB's Penny Haven
http://www.investorshub.com/boards/read_msg.asp?message_id=6161794
$3,080,000 @ .035 11,880,000 @ .135 based on OS at 88 million
revenues at 12 mill no brainer
MLXO in NOT on the reg sho list,
http://www.nasdaqtrader.com/aspx/regsho.aspx
good job, Maybe I bought them, good luck replacing them,
just an idea, subscribe to ihub, it's not that expensive
ihub is cool and well worth the premium
rb is free
ps, if you got more to sell, run it, got another open mit out for the scooping, lol
keep in mind, new here and like what I see
I haven't seen on this thread who is long or short, just got in today and that's that
if you are long, don't take any personal offense
new here, got in on a recommedation, MLXO is a
pretty big company, wow, ibox is nice, maybe add a chart, too?
http://www.michelex.com/IMAGES/usamap2.gif
mick, hello, here is a potential on flcr, ask wantobe
http://www.sat-alert.com/