Sleepless
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.
Anything is a plus at this point. Been kind of slow around here.
Inroads and big revenues. I guess that's the fruit at the top of the tree that we're reaching for.
Welcome Bioman! Glad to see you'll be helping out!
I agree, and I remember hearing something about some key medication types having patents expiring in a year or two, opening up even more opportunities for generic companies.
Thanks for the info, does sound like GE has that market cornered.
Welcome. Not sure about aviation fuel additive, but I would imagine the product could be tweaked if they had enough interest in that sort of product.
No one will take offense if puppman sells and leaves either.
Welcome to the world of pinks.
And I think it's funny how some people buy pinks and then think they're either Hedge fund managers or SEC regulators. Refer to my previous posts, my company has placed an order for testing, and, thus, everyone inquiring to sales has this information. Sorry of they will not quote anyone who doesn't at least consume a few hundred thousand gallons per year of fuel, but maybe they will, who knows.
They're already ahead of you. 5 gallon quantities are available, they're not free, but maybe to potentially large customer they would provide it as a sample. Not sure, but very possible I'd think.
I doubt we'll see $5.00, but $.30-.50, possibly. That is if these products work, and if we can manage sales, and if we can make those sales recurring this time. We have potential here, but I don't know that we'll see it by the end of June. Let's hope though.
Well, they can lie and pump the stock, or they can work to increase the fundamental value of this stock. They are doing right, and there shares are restricted, Jon isn't even drawing a salary. If they don't increase the share price, they lose too, I am confident they will. Anyway, if you don't like it, I don't either, but who cares? It's wait or go, I'll wait as patiently as possible.
I know, basically what I was saying was in regard to us seeing a mass exodus from this stock, I, for one, and many others, simply do not care. We believe in the products, we believe they will sell, thus, we believe the pps will inevitably increase. I wish I could say it will be this quarter, it may be, but I doubt it. Also, when I said "Everyone," I was pretty much referring to everyone, like myself, who will be here regardless, long past next quarter. As for everyone else, sorry it didn't appreciate fast enough, and good luck in your other ventures, if you feel you must leave.
I don't think anyone cares to much about the share price right now. From my understanding everyone is expecting future revenue growth to significantly increase the pps. So it is what it is, the pps will do what it will. Everyone is confident these new products will be successful. My company has even ordered a small amount to begin tests. I really think we'll see something here in a couple months. I could be wrong, but, if these products work, we could be in store for huge things.
It is possible the quarter we are in could be slow as well. I know it's a lot of testing going on, will they generate sales this qtr.? Let us hope.
No, the last one, the set of fins you were referring too. Sorry, wasn't paying attention to what I was typing good enough.
If you would've sold when we first told you to, you could've jumped ship at about .005.
Quiet, but still here.
No, my step is still peppy, I've just been busy. I think everyone was expecting a slow qtr.
Hopefully in a year triple zero's will be nothing more than a memory.
I like your plan! lol
Well there's always a bright side to buying at these lows. We can't go much lower lol!
I was being sarcastic lololol!
Good luck!
Yep, I concur, I hope everyone remembers in November how much more and more gov. regulation really protected us.
We really never left bottom, all we had before was a lie, now we'll have something real this time around.
I was settn at 2,000,000 and I don't regret it, hopefully I never will lol
Well, looks like I got my shares.
After talking with management via email, I am confident they will continue pressing forward with the business plan, even if trading is suspended, and that they will relist as soon as possible. Not the ideal situation, but it's something.
Yes, previous management screwed us all, Saleem needs to be in jail.
A lot of cons, but very satisfying IMO. What kind of consulting are you into?
I'm not sure an outside audit is being conducted, I thought that right now there is only forensic auditing being carried out?
To be honest I was kind of hoping that people would start dumping so I could load up real real cheap.
PPS actually up .0001, I guess I'm not the only one that has faith in MLXO prevailing.
I concur, if I'm not mistaken, their charter is to protect the interest of investors. IMO, MLXO is a risky investment, but we have been made aware of that by the company. They are updating us better than any Pink I've ever owned, and I don't think there is cause to suspend. Now if previous management was still in control, it would be a different story. However, they are not, and the shareholders were able to take corrective action themselves. If they want to do something, maybe they should go after Saleem and crew directly.
I think it'll be ok, I might even buy some more.
I thought it was a mass email to shareholders. Was I wrong? Lol
Update on SEC Filings and Reporting Requirements
Michelex Corporation filed a Form 15 with the Securities and Exchange Commission yesterday, May 14, 2012. Form 15 is a “Certification and Notice of Termination of Registration under Section 12(g) of the Securities Exchange Act of 1934 or Suspension of Duty to File Reports under Sections 13 and 15(d) of the Securities Exchange Act of 1934.” The filing of Form 15 was precipitated by the receipt of a letter from the Securities and Exchange Commission’s Office of Enforcement Liaison, Division of Corporation Finance, dated April 30, 2012 (see attached PDF: “SEC Notification”).
The Company made attempts to speak with the liaison officer at the Securities and Exchange Commission, including sending a fax to the Liaison Office (see attached PDF: “Reply to SEC”). The deadline to file a Form 15 pursuant to the letter the Company received is today, May 15. As the Company had not yet heard back from the Liaison Office as of yesterday, it was decided that a Form 15 should be filed with the Securities and Exchange Commission before today’s filing deadline.
The filing of Form 15 immediately suspended the Company’s filing requirements under section 13(a), and if the certification on Form 15 is subsequently withdrawn or denied, theCompany will have 60 days in which to file all required forms:
Securities Exchange Act of 1934
Rule 12g-4
This afternoon, we received a call from the Special Counsel for the Office of Enforcement Liaison, and the conversation could be described as being informative, helpful and congenial. The Special Counsel informed us that our Form 15 filing would be denied as our interpretation of the requisite requirements for filing a Form 15 was incorrect and that we needed to file an amendment withdrawing our filing. We agreed to do so and then discussed the options that are available to Michelex Corporation. They are:
1. Do nothing, a 12(j) action will be initiated and trading will be suspended.
2. Consent to the filing of a 12(j) action, which will also result in a trading suspension.
3. Inform the Special Counsel via letter that Michelex Corporation will complete all required filings by a “date certain”. This option does not mean that a 12(j) action will not be filed, but it ispossible that the filing of a 12(j) action will not occur before our filings our completed.
Thus, it is possible that the SEC will take administrative action pursuant to Section 12(j) of the Securities and Exchange Act of 1934, which could result in the suspension of trading pursuant to section 12(k):http://taft.law.uc.edu/CCL/34Act/sec12.html
Per the SEC Office of Investor Education and Advocacy’s Investor Bulletin:Trading Suspensions:
“..when an SEC trading suspension ends, a broker-dealer generally may not solicit investors to buy or sell the previously-suspended over-the-counter (“OTC”) stock until certain requirements are met…a broker-dealer must file aForm 211 with the Financial Industry Regulatory Authority (“FINRA”) representing that it has satisfied all applicable requirements, including those ofRule 15c2-11 andFINRA Rule 6432.” (See also: 15c2-11)
Effectively, what this means is that if trading is suspended, Michelex would not be eligible to be quoted via Market Makers. In order for quotation of Michelex to be resumed, the Company would need to have current financial statements and secure a Broker-Dealer to file a Form 211 with FINRA on the company’s behalf.
The board of directors held a meeting this evening and decided on the following course of action:
We will inform the Special Counsel via a letter to be sent tomorrow, May 16, 2012 that Michelex Corporation will commit to submit all required filings by August 31, 2012. If possible, within the next few days, we will retain a PCAOB certified firm to perform the audits and we will notify the Special Counsel of such. [It is unfortunate that during the 20+ months of their tenure, the previous board did not take the requisite actions which they were supposed to do in order for Michelex to become current in regards to its filing requirements pursuant to section 13(a) of the Securities and Exchange Act of 1934.]
However, if despite our best efforts, trading is suspended, it is the intention of the board of directors to take the necessary actions to have quotation via Market Makers (i.e., “trading”) resumed via the filing of Form 211 with FINRA. If the Company is required to have a Form 211 submitted on its behalf, we estimate the cost of all necessary actions (e.g., preparation of financial statements, fees to brokers-dealers, legal expense, etc.) to be in the range of $40,000 - $50,000. Please note that the “Jumpstart Our Business Startups Act” that was signed into law on April 12, 2012 included changes to the reporting requirements of section 12g of the Securities and Exchange Act of 1934, and that because of those changes, Michelex Corporation would not be required to re-register with the SEC if the Company isde-registered via the filing of a 12(j) action by the Securities and Exchange Commission. In effect, Michelex could resume trading as an OTC Pink Sheet stock but the Company wouldnot be subject to SEC reporting requirements under section 12 of the Securities and Exchange Act of 1934 (i.e., Michelex would not be required to make EDGAR filings of forms 10-Q, 10-K, 8-K, etc.)
We will keep shareholders informed regarding any decisions that are made, or actions that are taken, by the Securities and Exchange Commission in regards to Michelex Corporation. In addition, we will provide additional updates on the status of the Company and our efforts to secure funding and/or partners as soon as possible.
Michelex Board of Directors:
Frank T. LaSusa
Venkat Kakani
Dino A. Sawyer
Disclaimers:
This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. You should not make any decisions regarding the purchase or sale of shares of Michelex (MLXO.PK) unless the information contained in this email is publicly available. If you have received this email in error please notify me. This message contains confidential information and is intended only for the individual named. If you are not the named addressee you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system. If you are not the intended recipient you are notified that disclosing, copying, distributing or taking any action in reliance on the contents of this information is strictly prohibited.
Safe Harbor: This email may contain forward-looking statements within the meaning of the Private Securities Litigation reform Act of 1995. These statements and the matters discussed in this email are forward looking statements that involve a number of important risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements, including, but not limited to, the extremely limited operating history, the performance of the subsidiaries, as well as other economic, competitive and technological factors involving the subsidiaries' operations, markets, services, products and prices, uncertainties related to the company's access to additional capital, the ability of the subsidiaries to enter into contracts with new customers, and dependency on key management.
Well I'm far from satisfied, management has done a great job, but I will not be satisfied until we start meeting some of the potential that many of the shareholders know, and have known, is here.
Hopefully they'll work towards getting "current info" status.