Charting
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.
Just above "MLXO Board Policy" in the I-Box above I Reposted the links to the news articles about the SEC Investigation into Cornell Capital, PIPE Financing and Toxic Financingfor those who weren't around for the history of that mess here. Very Informative reading.
I guarantee Michelex is not going to do a reverse split.
This debt that michelex owes is from 2004, Before michelex signed a SEDA for 10 Mill$ with Cornell late in 2004, there was a REG-DEX filing in Sept.-Oct. 2004, Michelex had borrowed $1 Mil from Cornell before the SEDA went into effect, there was a private placement with Cornell for the cash, Cornell cashed in almost half of this in 2004-2005, they stopped selling convertibles in the spring of 2005 at Toms request after they plummetted the share price, the SEC stepped in shortly after that and began investigating cornell for illegal short selling of 9 different companies, of which michelex is one, we have links in the I-Box to the news articles about this investigation, the SEC issued a cease and desist order against cornell, I heard that the order expired in Jan. 2007 and that is when cornell began selling convertibles again. I suggest calling Tom G and letting him explain it better to you, this is how it was explained to me.
The Company is not diluting the stock, this is Cornell Capital recouping money owed them from 2004, they are not selling shares "Intraday", they are only selling at the "End of the day" with blocks of Averaged Price trades, this intraday selling has to be retail investors like us, i have no idea who is selling shares Intraday. But Cornell has to be out of shares today or tomorrow, they have sold 3.5 Mil this month and received 4 mil, so they are almost done and then we should begin to move back up.
I removed your post, and the persons post you replied to, both were attacks on each other and are not allowed here, keep your posts on topic and please no more attacks on each other, go to HSM if you want to act like that. The subject here is Michelex, feel free to discuss the Michelex Corporation all you want, but any and all personal attacks and/or off-topic childish rantings will be deleted. Other I-Hub members and/or MLXO shareholders are not the Topic here.
This will only be the last batch "IF" and I mean IF Tom G pays them off, I heard they wanted 25% and Tom refused, but if you read their agreements, they get 25% on their loans, thats how they make their money, at this point after this batch, I'd say they will have collected $210-240,000.00K probably leaving approx. $300K or maybe a little more still owing, Tom needs to bite the bullet and pay them the 25% and be done with it, so it doesn't do any damage to the stock anymore than it already has. We definitely don't need another 10 Mil more shares dumped on us from these SOB's, we deserve at least this much. We really deserve a 10% dividend, like a 1 for 10 shares being held by such and such date, but I will would be satisfied with a Cornell payoff and NO MORE of this chit.
Teach, I have no way of replying to your PM, you can email me at investo77@yahoo.com, replying to one of your posts is the only way i have to reply to your PM.
Teach, I have no way of replying to your PM, you can email me at investo77@yahoo.com, replying to one of your posts is the only way i have to reply to your PM.
Real; No offense, but you obviously don't know much about how these institutional Hedge funds work, Cornell could give a rats azz about AG Pro, really man, they don't care, do you know that these shares they are selling that besides getting the money back from Michelex that they borrowed, that they are also getting 25% interest? Thats why they added 25% on when Michelex wanted to cash them out. If you don't believe what I am saying, ask one of these guys in this that knows Investment Banking like Emich, he knows what I'm saying, you are acting as if Cornell thinks like we do, they don't, they are a Hedge Fund with Hundreds of millions of dollars at their disposal, they have many deals going alot bigger than Michelexs AG Pro, they are already making 25% here, they just want their cash. You and I are RETAIL Traders, they are not and they don't think like us either. You really don't know what these averaged sells at the end of the day are? If you can't put 2+2 together then you obviously have alot to learn my friend.
hgf32, the reason we are down right now is because Cornell Capital is selling Convertible Debentures to repay money owed to them by Michelex, the shares they have to sell were issued at approx. .03 so Cornell is not going to take it down much below .03 or they will lose money. I could explain this to you in depth and a few other things, but i'm not going to clog up the thread like that, my email has been posted, in case you didn't see it, it's investo77@yahoo.com send me an email and i will help you out somewhat. Selling out while cornell is selling is like Investing suicide, please email me before you lose your azz, at least check out what I have to say and then decide to sell if you want.
It was hostile in nature and contributed nothing to the discussion of Michelex, it appears the Mod Squad has chilled out somewhat, now lets keep everything ON-TOPIC and stop making your posts about OTHER MEMBERS, OTHER MEMBERS ARE NOT THE TOPIC HERE, MICHELEX IS! So they don't come back and start and all over again.
I agree with you Hurley, the only exception is the totally off-topic personal attacks like the one I just deleted, that crap adds nothing to the discussion or debate and only feeds the fire of hostility and the next thing you know we have a full blown quarrel going on with people slinging nasty language and peronal attacks at each other. I can't stand that crap and as long as I am here I will stop it when I can. Lets use this thread for what it is meant for, and that is MICHELEX, Keep your posts about Michelex, all opinions are welcome Negative as well as Positive, Whining as well as the Excited ones expecting to be rich soon. Just keep it on Topic, and save the off-topic personal attacks for HSM or your email, because it's not allowed here whatsoever.
See now this is the kind of post that gets deleted, by me especially, totally off-topic and hostile, this crap adds nothing to the spirit of this thread which is MLXO. Keep your posts about MICHELEX, not other memebers and what you think about them, for this kind of crap i don't blame the Mod Squad one bit, totally uncalled for.
Folks, I have went thru many of the deleted posts here and even though I have not had any contact with management yet on all the deletions, one thing keeps coming to mind as I read thru this mess, it appears to me that the Mod Squad is deleting anything that is OFF-TOPIC or HOSTILE Towards other members, if you guys would please keep your posts ON-TOPIC about the MICHELEX CORPORATION, and Refrain from posting any Hostile posts directed at another member, I think you will find that the deletions will cease as long as you stick to these simple rules. Keeping people ON-TOPIC and Deleting all Hostility seems to be the rule of thumb here. Keep the discussion focused on MLXO.
hgf32, I would refrain from taking anyones advice on a message board as to what to do with your own Investment, your Investment in MLXO is yours and yours alone. MY OPINION, at this point is; Selling right now, just before the AG Pro acquisition news may not be the smartest thing to do. I have been in this stock for 2 years now and have weathered the storms and things that have been promised and we have yet to see action on but things in business take time to acomplish and I realize that Michelex has taken a very long time here, but one thing needs to be taken into consideration, Last summer they had a deal with a company, symbol "XNL", they were going to merge with XNL and become partners and XNL was going to buy AG Pro and help MLXO Pay-off their debt like Wells Fargo ect., when the XNL deal fell thru, thanks to Mark Cuban, the Dot Com Rich Kid with nothing better to do, took out his axe and began chopping away at XNL, the XNL CEO removed himself for a lower position and the deal MLXO had with them was off. This was just over 6 months ago and MLXO had to pay-off it's debt and come-up with financing on it's own for AG Pro, now even though it may seem like we have been waiting along time, it's really only been approx. 6 months since MLXO has tried to get this done on their own, I have heard that MLXO is almost done with this acquisition and these things they promised are going to be completed with this acquisition, I DO NOT have verification of that from the company though, but I am definitely not selling right now at these depressed prices especially before the AG Pro news comes out. Bottom line is, attempt to verify as much info as you possibly can, and make your own informed decision on your own investment.
Look Man, I understand what you are trying to say, you are comfortable with your Investment and are Pumped and excited with the thought that this could have a HUGE Run-up when AG Pro gets closed, thats your position, you have the right to post it and voice your positions and opinions. BUT! BUT! What you keep failing to understand, (And I have posted this time and time again), is that, the people who ARE NOT comfortable with their Investment have the same right to post their positions and opinions as well, without being called names and personally attacked. You post your opinions, and enjoy a name calling free zone, nobody hurls unsults at you, and they have the same rights, I don't see why you guys don't get this basic truth. Personally I don't agree with everything Snuggs is saying, I believe that Michelex is going to close on AG Pro and get out of these depressed prices, but Snuggs still has the right to post his opinions, He DOES NOT have the right to stir up trouble and repeatedly post the same things over and over again, he has been warned about and from what I see he has shaped up a little in that area. The I-Hub Mod Squad has been policing this board alot, some of the deletions I don't understand myself, but they have the ultimate say. The I-Hub forum allows for more discussion of both sides of the issues alot more than HSM Does, anyone posting the Contrarian side of the issues just gets banned over there, I admit Snuggs D2D brought some of it on himself by being repetitive after the Mods there warned him, but the Bottom line here is that people/shareholders/Investors have the right to post their opinions, whether you agree with them or not as long as they follow the TOS and do not stir up hostility while doing it. Now if they were "Baseless Bashing", well, that would be deleted also and maybe a ban from the board be warranted, but what Snuggs is upset about is not baseless, someone is definitely selling new shares into the market, many of us have heard it is Cornell and until they are done we are stuck with it. I hear they only had 3 mil this time and it looks like they only have 1.5 Mil left after going thru the T&S Prints. But PLEASE Understand this point that ALL PEOPLE HAVE THE RIGHT TO POST THEIR POSITIONS AND OPINIONS LIKE YOU DO, as long as they are not posting "Baseless untruths" (Bashing) or "Baseless Pumps" also, I am tired of posting the same thing to you and you still don't seem to get it.
10 Mil in volume would be an alltime record for this stock, 10 Mil is more than alot of the monthly volume numbers. the highest we have had so far was close to 6 mil in a day, 10 Mil would really be awesome if the Company could ever stir up that much interest.
I have no idea why they deleted it, they don't leave any reason only their name. I have been out all day and all weekend and just now returned so I am just now seeing all this. Anyone here anything about news this week possibly?
The Mod Squad is a newly created group of mods here, I was told there are 10 mods that have increased managerial responsibilities over all the threads.
Folks, I Am not the one deleting posts here today, it is the I-Hub Mod Squad, I asked I-Hub Supervisor Matt (Not Snuggs Brother), for some help here since I am not available 24/7 and Due to the personal attacks that have been going on here, bottom line is, Don't poke fun at others for their opinions, it is Non-Productive, Viewed as a personal attack and will be deleted.
Well, from what I hear the company is being tight lipped with everyone, they usually do that when things are close to being done like this, especially when a leak could blow the deal for them, so if the guru you talked to doesn't know anything or "Maybe he does" but isn't telling you? Especially if he disagrees with many of your posts? Just a thought. I heard last week that things are very close and that Tom G was in NYC this week, hopefully closing on this thing. I can't imagine them keeping silent and not PRing this after they close.
You must be getting up there in shares by now eh? LOL, have you been adding pretty steady on these dips? I wish I had more cash to Invest, but my studio construction project wiped out my extra cash.
They cannot own more than 4.9% of the O/S at one time, and can only sell a % of the daily volume at the days average price. I'm not sure exactly what the % of the volume is, but it appears to be approx. around the 50% area, today we only saw a 100K trade at the EOD, I was thinking that the 105K trade at 12:45 might have been them, I don't know, but that would have put them at approx. 50% of the days volume, one of these manipulative MM's might be helping to create volume for them too, by shorting and buying back in the same day, that would explain some of the weird crap we have been seeing, thats just a guess though, so don't hold me to that.
Best thing I can say is try and get Tom G on the phone and ask him, what I wrote in that post is EXACTLY what he explained to me, everything I have ever posted of what he told me was exactly what I was told, I didn't add anything to it. If that REG-DEX filing was available to read online, we would know more about it, all we can do now is get what the company tells us about it, but thats what Tom said to me that, They got $1 Mil from Cornell in the form of a private placement and Cornell only cashed in between $4-500K worth of stock back in 2004/2005, but Michelex did not borrow anything from the SEDA deal.
Thats what I am hearing, I don't know anymore than that, waiting like everyone else.
Because Cornell Capital is an Institutional Hedge Fund and they don't think like we do. If you go thru their Portfolio and look at the investments they have, they have alot bigger deals going than what Michelex is doing. My opinion is that considering that this is an old debt and Michelex doesn't want anything to do with them, and the trouble they got into with the SEC with MLXO, and the fact that AG Pro is not a done deal yet and is probably considered high risk for Cornell, add all that up and look thru the eyes of a Hedge Fund with Hundreds of Millions of $$$ to Invest with, you can see why they are just taking their cash and moving on. Who knows, maybe they are holding some back to see if Michelex comes thru. I would hope that they sell-out before AG Pro gets closed, the last thing we want is Cornell selling into a Major run-up. I wished they would just hurry up and dump what they got, either that or let Michelex just pay them off and be done with it.
Real, read this post I posted earlier, this was explained to me by Tom G. the CEO, I can't explain it any better than that, you can call the company if you want to verify my post. It sucks what they are doing, but what can we do except live with it until AG pro is closed? I also posted earlier that I had heard that Michelex tried to pay-off Cornell recently so they couldn't sell any more convertibles and Cornell being the greedy SOB's they are wanted an extra 25% tacked on to let Michelex pay them off with cash, hopefully they can agree to something soon.
http://www.investorshub.com/boards/read_msg.asp?message_id=17528964
While I am on that subject, the same rules apply to the people attacking the person they disagree with, just because some of you guys disagree with someone does not give you the right to attack that person, that is considered a personal attack also, just because they allow that sort of nonsense on HSM doesn't mean I-Hub will allow it here, and I personally will delete any personal attacks whatsoever and the head Mod Matt will definitely back me up on that.
I already addressed that with Snuggs, about repeating the same thing over and over. You guys have been doing that also by attacking him repeatedly also I might add.
OK, here is a serious Question for all of you to ponder on. Before I write it out, i want to say that Snuggs/Dollar whoever he is, his trading accounts, how well off he is or how many stocks he owns are nobodys business, just like everyone else here, all of your accounts and your trading habits and decisions are NOBODYS ELSES BUSINESS EITHER! So lets forget that discussion right off the bat.
Now here is the question as a Mod of this thread I have to ask myself. Several of you guys here are asking me to have Snuggs banned, because he is whining and complaining about Cornell and what it is doing to his Investment here. So according to what you guys are saying, (and I see you guys being very very selective in what "WHINING AND COMPLAINING" should be allowed here). So basically your telling me that "WHINING AND COMPLAINING" is allowed as long as it is not about Cornell, Michelex, or that persons Investment here? So people can "WHINE AND COMPLAIN" as long as it is not about these subjects? IS THAT FAIR? If someone is going to be banned for "WHINING AND COMPLAINING" then to be fair, ANY WHINING AND COMPLAINING at all should be banned, INCLUDING YOU GUYS THAT ARE "WHINING AND COMPLAINING ABOUT SNUGGS!!! Fortunately we live in the Great US of A and we have the "FREEDOM of SPEECH" not to be MISUSED on this board, but for you guys to ask me to have someone banned for "WHINING AND COMPLAINING" and the same guys asking me to do this, ARE GUILTY OF DOING IT THEMSELVES, by Whining and Complaining about Snuggs! Seems very unfair to me, that is just another form of censorship, which I hope none of you want to go down that path. We have 4 easy rules here, #1. No "BASLESS PUMPING" #2. No "BASELESS BASHING" #3. No SPAM #4. No "PERSONAL ATTACKS" Which includes being Cordial and Respectful to others opinions, and using your ADULT MANNERS when posting or replying to others. The Question is; If one person should be banned for "whining and Complaining" why shouldn't the rest who are "whining and complaining be banned also? The Subject of a persons "whining and complaing is not a factor, that is censorship.
This is how Tom g explained it to me along time ago, even though they did not borrow any funds from the SEDA they signed, Michelex did get $1 MIL from Cornell BEFORE they actually signed the deal, they filed this with a form REG-DEX, which is the form for a private placement, if you look at the filings back in Sept./Oct. 2004, you will see the REG-DEX filing, it is a paper filing so you cannot read it online, but that was the filing as I understood it from Tom G. Now, Cornell had only converted between $4-500K worth of stock when they were interupted. I believe Tom G first asked Cornell to stop selling shares and michelex was going to pay cash back to Cornell instead of them continuing to sell shares, this was back in the spring of 2005, and then a couple months later in July of 2005 the SEC began their Investigation of Cornell for short-selling 9 of their clients including Cornell. Bottom line of how it affects us now is the fact that Michelex never paid off Cornell, and now they are back to collect by getting convertible debentures thru the transfer agent. If you want to verify this i suggest calling the company, this is how it was explained to me, this is the best I can do for you.
I haven't had a chance to go thru everything yet, thats what upsets me about this crap, I have to take my time and go thru dozens and dozens of posts to see whats what. Ya know, maybe snuggs wouldn't be talking back to these guys like that if they weren't attacking him like they are? Just leave the guy alone, hes upset about cornell dumping shares on us, he has that right, I'm not happy about it either, hopefully Michelex will be able to come to terms with them. I heard Michelex offered to pay them off and Cornell wanted an extra 25%, that shows you how greedy they are, I know from experience, I have been in this stock for 2 years and Cornell was selling convertibles and shorting when I first bought in here, so I know firsthand what they can do, and it is going to be harder for us to have a nice run-up with them selling shares, but what can we do about it? Nothing. It's up to Michelex to keep trying to get them to Accept a pay-off. Cornell knows about AG Pro I'm sure and thats why they want that extra 25%, they are not stupid, Cornell is an issue, it is real, michelex owes them and they have a right to sell convertibles, this is all true so how is it "Bashing" just because snuggs wants to talk about it? I agree that he needs to stop repeating himself over and over, but still, to msay hes Bashing Michelex I don't agree, hes upset about Cornell not Michelex from what I have read so far.
You have a point, but one thing about this stock is that all the major shareholders in street name are on these boards, you said there are approx. 23 of us? If you add everyone up that posts here and on HSM I'd say that covers most of the 23, now i think things would be alot better if people stopped the smart-azz personal attacks just because they don't agree with someones opinions, I don't agree with some posters totally inflated posts of $3.00 $5.00 a share and so on, but I'm not attacking them, if they start posting unrealistic crap like that here it's getting deleted, but still, the personal attacks are totally uncalled for. We are all stuck in this together until they close the AG Pro deal, so lets knock off the childish personal attacks, it is better for eveyone.
The big difference between I-Hub and HSM is that both sides of the issues are allowed here, Cheerleaders and the Contrarian view. On HSM the contrarian view is labeled as Bashing and thats not true at all, now someone badmouthing and posting derogatory things about a company just for the sake of being nasty is "Baseless Bashing" and posting unrealistic ideas just for the sake of attempting to lure buyers in is "Baseless Pumping" that along with Personal attacks are not going to be tolerated here, if I keep seeing the same crap, I'm going to have Matt start Banning people. Snuggs has a right to post his Contrarian view, but hes already been told that he needs to settle down, but some of you guys are attacking him for his opinions as if this was HSM and thats not going to happen here!
You guys need to settle down, if you want to argue then do it thru your emails, I'm not going to let this turn into another HSM Circus.
Come-on guys, NO NAME CALLING OR PERSONAL ATTACKS HERE! Since I am the mod here, there is no way I am letting this board get turned into the circus that HSM is. Post your opinions and leave it at that, have respect for others opinions even if you don't agree with them, everyone has the right to post their opinions, any Basless "Pumping" OR "Bashing" or Personal attacks will be deleted, Period.
Tom G told me that the extension was for 60 Days from the 1st part of Jan. I estimate we have approx. 2 weeks left. I remember back in Nov. Tom telling me that the owners from Ag Pro were calling him daily wanting to know if he secured the financing yet, he said they were getting impatient to close the deal. My concern right now is, if Michelex does not close in the next 2 weeks, is there any guarantee that the Ag Pro owners will grant Michelex another extension? I think that should be the number 1 question that needs to be answered right now. What if there is another company waiting to see if michelex can close or not? And if michelex doesn't close, this other company steps in and makes an offer? Of course I'm speculating here, but that could be a very real scenario, especially with all the Non-Trans Fat hype going around, and the fact that Ag Pro is 1 of only 2 east coast suppliers, you know other companies have got to be looking at it if Michelex can't close for whatever reasons?
I personally have to agree with the part about 2 separate things, sure Darbie is a great company, but just because they hired Darbie is no guarantee they can close the deal? Darbie is not the issue here, Michelex is, and whether Michelex can close the deal or not is the main issue, Darbie is not trying to acquiring Ag Pro, Michelex is. Michelex had a plan to acquire Ag Pro with XNL by becoming partners, when the CEO for XNL got fired, the deal Michelex had fell thru, Michelex had to go to plan B after that and try and get financing on it's own, the original deal fell thru back in Aug. so it's been 6 months now that michelex has been trying to do this, we have yet to see IF they can get it done or not. The "Baseless" Pumpers on Hotstockmarket act and talk like it's a done deal, and talk about all the things michelex is gonna do with Ag Pro, I think all that speculation talk is way too premature, Michelex needs to close the deal before we start speculating on all the wonderful things they are gonna do. We were told we would be relisted in 6-8 weeks too, that was way back in "MAY 2005", we have yet to see that happen too.
emich25 is the one that was implying that in his post, not snuggs.
http://www.investorshub.com/boards/read_msg.asp?message_id=17041817
It's "Basless" Pumping & "Baseless" Bashing that we don't put up with here. Your post was neither so don't worry about it. Intent has alot to do with it, Personal attacks are not tolerated either. This board is for discussion and debate on the issues, it's for the Optimist as well as the Contrarian view. It's when Pumpers and Bashers leave the issues and the facts behind and start their "Baseless" crap, HSM is notorious for that, as long as your Pumping over there your OK, the Contrarian is viewed as a "Basher" on HSM.
Personally, I'm into the facts, the Truth, rather than whats popular. I understand alot of people are down in this stock and it sucks, and Discussing the Reasons "Why we are down" is a very important topic to many people and I don't view that as Bashing like many on HSM do. Keep it clean with NO Personal attacks when Discussing the issues. ALL The issues/Topics about MLXO are welcome discussions here. Including the Topic you brought up.