Charting
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bbbbilly; No pump here, just a waiting game.eom
Is it time for MLXO to have it's RIP-RIDE???
speedmasters; I'd say we are within half a cent of breaking the long term down trend line, I just hope it is sustainable
wzebra33; One thing you are forgetting is the fact that MLXO is now a PINK SHEET, there are no reporting requirements for a Form 4 until the get back into reporting status.
Here is an interesting read concerning the Stock Comm. Group getting busted by the FCC for SPAM!
http://www.fcc.gov/eb/Orders/2002/EB-01-TC-056.pdf
wzebra33; I believe that the Stock Comm. Group has already sold their 1.8 Mil shares.
http://finance.yahoo.com/q/it?s=MLXO.PK
wanto; Yep, that trend line break is inching closer and closer.
hurley; Yes but, I doubt that this T/A has updated their figures yet, the 1.8 mil that stock comm. group just sold were restricted shares, and are now in the float, when they finally get around to updating, I am sure the probable figures will be correct, just my opinion though.
hurley; I am curious as to why they put all the blame on the Hindsight Records acquisition for the dilution, when the Cornell deal with all the Convertible Debentures are a good reason for a good chunk of the dilution also? They have not addressed the Cornell mess at all, any idea on whats up with that? Also they still have almost 12 Mil more in authorized shares that have not been issued so it didn't use up "ALL" of the authorized shares like the PR says.
From the 7-05 PR;
"The Hind Sight Records acquisition was more dilutive then the Company anticipated and has impeded the Company's ability to raise additional capital in the public markets under the current capital structure. It has used up all of the Company's authorized shares, leaving it unable to use shares to raise capital. The Company will investigate all possible solutions."
According to the Annual that Michelex just filed, they still have 15 Mil in assets and their Revs for 2004 went up from 2003 from 12 Mil to 14.8 Mil in Revs, 88 Mil O/S and a Market-Cap of 500K? Who do they think they are fooling???
500K Market-Cap, Isn't that REDICULOUS!eom
I updated the I-Box Share Structure.eom
One interesting bit of info that I have figured out from calling the T/A today is this; They seem to be way behind on their figures, I have been calling on a weekly to semi-weekly basis, today was the first time since late March early April that the Restricted share count has changed according to the T/A, Now the figure that was given me today was a decrease in the Restricted share count by 851,969 shares, that is exactly the amount that the Stock Comm. Group sold back in March that was a planned sale, I believe these 851,969 shares have been in the float since March and the T/A is just now updating their figures. The Stock Comm. Group just offed 1.8 Mil shares, I don't believe the T/A has updated their figures yet even though these shares are probably pretty much all are in the float now, there may be a few yet for the MM & Broker handling the sale to dump, but I don't believe we will have the updated share count for a while seeing how slow they are. I have another company that I have been a shareholder of for a while and I have certs coming right now, they just changed over to a new T/A and after talking with the new one, they told me that the old one had the company records so screwed up, that is has taken 3 weeks and they are only 80% up to date, he said it will be another couple weeks before they can send me my certs, thats how screwed up they are! It doesn't appear that Colonial Transfer (MLXO's T/A) isn't on the ball either. I think it's safe to say that the current Restricted and Float count is as follows; Restricted; 59,669,954 and Float; 28,677,355.
I've spent 10G's averaging down so far!eom
My first was @.079!!!!!!!!!!eom
I'm going to watch and see what they do, they may drop it further, with Cornells reputation, we may see .001's!!! That is unless Tom G. is getting financing to pay them off?
Thanx.eom
hurley; Did you get my PM about the Chart?eom
One thing to think about is that if Cornell is taking advantage of this, they will want to keep it in the subs for a period of 20 Trading days or something like that, then they can cash in on the average, this is one of their scam tactics.
hurley; I was asking because the Time & Sales from OTCBB shows the 195K as a sell.
hurley; I sent you a PM.eom
hurley; Did you buy or sell @.0033?eom
I called the T/A today, I have good news and bad news, the good news first. The O/S is still the same No Increase, but the float has increased by 851,969 shares, I'm sure this is shares that the Stock Communications Group sold off, so it appears that Cornell is not dumping which is a very good sign. I am updating the I-Box accordingly. Restricted share count is now; 61,469,954 Float; 26,877,355. For myself, the time to average down greatly is just about here by the looks of things. Make your own investment decisions, don't base any decisions on my posts.
hurley; I wonder if Cornell is selling also?Tom G. said that Cornell agreed to stop selling while Michelex seeks new financing, but they will only wait so long I suppose. Maybe Cornell got tired of waiting and is dumping again.
Can someone post the Time and Sales for the day? Thanx.
Churak; Hey it worked, THANX!
Matt; Nope, it's not there.
IH Admin [Matt]; Question for Matt, When I first came to I-hub back in March, I had a 2 week free membership, I have not used it yet and I noticed that it is gone from my mailbox, did this have a expiration date on it or did I accidentally delete it? I wanted to check it out this week.
Reposted
wantoberich; HAHAHA, How do you do that???eom.
lakers17; Yep, turning into a POS, but it can turn upward rather quickly if they get back on the BB and pay-off Cornell, time will tell. This is definitely being manipulated down by someone who doen't want this to turn bullish by breaking the down-trend line, being that this was just on the SHO list says alot, there is more shorting going on in my opinion designed to get longs to bail and keep any indicators from turning bullish. I said a long time ago that Cornell would love to cover in the subs, looks like they may get their wish soon, I am watching for this to bottom out before I unload a bunch of cash into this.
wantoberich; No I haven't, please enlighten me, sounds fun! LOL.
hurley cruppers; After reading thru that I see why they are going to spin-off Michele Audio, they have some nice revs, but way too much debt. cutting the dead-weight should give michelex a boost, at least I hope so anyways. I wonder how many shareholders from this board are left? Looks like a few bailed recently, I don't blame them if they did, this company needs to spin some wheels and get back on the BB at least.
wantoberich; I just checked Matts Jailhouse Inmate list and "new5005" is on it! Thank You Matt, many of us really appreciate the BREAK from the Buffoon.
Jailhouse Inmate list link;
http://www.investorshub.com/boards/club_matt.asp
wantoberich; I noticed that he changed his alias from "new2005" to "new5005", I thought that was a little strange. Anyways, he is not worth my time to reply to his idiotic posts anymore, let me know when hes toast.
new5005; Your a bigger IDIOT than what I originally thought! Trading Securities without KNOWLEDGE of how the Markets work and WISDOM concerning Charts and Indicators is ASININE!!!!!!!!
Looks like anything over .02 breaks the downtrend!eom
Good one!
lakers17; I feel your pain man, but myself, I know from experience that unless the company is looking at bankruptcy or is run by known scammers or has a history of pump and dumps followed by reverse splits only to do it all over again, that a company like this is worth the gamble, these companies are kind of rare in my opinion, sure it looks like crap now but when they are done restructuring, and they get Cornell paid off, I believe this stock will bounce back bigtime. They are family owned and operated and also the majority shareholders, I don't think they are that stupid to throw a good thing away like that especially when they are in a market where their products are in demand and have a long standing of profitable years. Please don't misunderstand me here, I am not happy with the way things are being handled, and I am not trying to stick up for the management, nor am I trying to keep anyone from bailing, I just believe they will come thru this and will become profitable again.