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It seems Jerry Eicke at Cornell doesn't want to deal with the Michelex situation, so he passed the buck to Jonathan Feniak the Vice President of the Investment Banking team, Phone # 201-985-8300 ext. 128. My first call was Voice Mail, I will keep trying most of the day until someone is faced with an opportunity to comment.
lakers17; Definition; Short Squeeze from Investopedia.com. I think if we pull together and get a few Investment groups interested, we can pull off a Major Short Squeeze here. I know a couple guys that run their own groups that love this stuff.
http://www.investopedia.com/terms/s/shortsqueeze.asp
Short Squeeze
A situation in which a lack of supply and an excess demand for a traded stock forces the price upward.
Short squeezes occur more often in smaller cap stocks with small floats.
If a stock starts to rise rapidly, the trend may continue to escalate because the short sellers will likely want out. For example, say a stock rises 15% in one day, those with short positions may be forced to liquidate and cover their position by purchasing the stock. If enough short sellers buy back the stock, the price is pushed even higher.
lakers17; I beg to differ with you. Take a stock like MLXO, low float, PPS moves around on 10-20k buys and sells, now take a few stock groups, lets just say conservatively, that we have approx. 100 people that are going to run this thing, all spending between 500.-2,000. Your going to tell me that this won't squeeze Cornell??? HAHAHA, Say what you will, I have been part of one before and watched it happen, The MM's are very low on shares for MLXO this one would be easy!!!!!!!!!!!!!!!!!!!!!!!!!!! We just need to get the attention of a couple investment groups to have a reason to put MLXO up as a group pick, and we will help ourselves as well as Michelex by sending Cornell one hell of a message. Laugh if you want but thats what I am working on right now, I am involved in over 80 stock groups, I only need 2 or 3 to jump in here.
ecp1976; They will never admit to short selling their clients! That would be incriminating, there are certain laws against this kind of manipulation. Cornell works in the GRAY area. I suggest you do some searches on the net about Cornell Capital and short selling, you'll find a bunch. Cornell has a team of lawyers that work their deals so some of them are right on the hairy edge between legal and illegal, so don't expect any admission from him, rather, play him like you already know whats up, your already informed, act like you know whats going on and see if you can get him to comment on it? What is Cornell going to do with all these short sold shares, now that Michelex has broken the ties? Myself I am looking for his reaction, I want to see what kind of B/S he tries to hand me. Does he talk a little jittery about it? Things like that tell alot. The main thing is that they get the message that they are not only dealing with the company, but Investment groups ready to buy up shares really cheap in an undervalued company, undervalued because of their short selling. If they get that message, they should cover and quick before they get stuck. Just my opinion.
I just got off the phone with Charles the Company IR guy, even though I don't care for the guy, Tom G. was out today due to health problems so I called Charles; He told me he has two PR's for Michelex on his desk right now, he said alot is going on with Michelex right now and they will be releasing all the info as soon as they can, he said we could see a PR next Monday or Tuesday possibly.
ecp1976; Thats one thing that is very important with these guys, (CROOKS), you want to be very cordial and professional about it, my tactic is to let them know in a very casual kind of way, that I (We) know what they are up to and we are not stupid. I let him know that we and a good part of the penny investment community, know what Cornell does to companies after signing a SEDA, and since we already know that they shorted Michelex BIGTIME, and now Michelex signed a financing deal with someone else without drawing off of Cornell funds, "JUST WHAT ARE THEY GOING TO DO WITH ALL THESE SHORTS"? Especially when faced with a short squeeze? Believe me, they will be talking about it between the Partners of Cornell. We need more people to call and ROCK THE BOAT!
harr449; Bid .016 X Ask .025
ecp1976; His secretary told me he has a couple meetings this afternoon but has most of tommorrow free. I left a voicemail regardless.
ecp1976; I use my cell also but, I have not stopped calling until I speak with the guy. Even though I left a message, a Mind blowing message if hes unaware of Michelex and their new financing deal!!!!!!! I want to speak with the guy and pick his brain and try and get his state of mind on this issue. My Opinion is that this is a MAJOR SHORT SQUEEZE WAITING TO HAPPEN! I am a member of over 80 stock groups, I am sending out a message on all of them about the MLXO situation. If we can just muster a couple stock groups to run this thing, we could have an eruption of a short squeeze here. Yahoo has several stock groups that love to run stocks like this, they just need to know about it, explained to them what Cornell did and how Michelex has new financing and let them do their own DD from there. These MM's move the PPS around on such low volume that a Mil or two in buying pressue and this suckers gone to the teens and beyond! We need some players to get on board.
For any of you that like to rock the boat, here are a couple links, one to Cornell Capital and the other to the Partners section. Jerry Eicke is the guy that needs to hear from us his ext. is 118 at phone # 201-985-8300. He is a senior partner, I keep getting his voice mail, but I left him a whopper of a message, I basically said that I wasn't sure if Cornell was up on what is going on with Michelex Industrial Group that they signed a SEDA with last fall, but I was informing him that the Company knows about the massive short position, along with some Investment Groups who also know about, the Massive Short that Cornell and Friends hold on MLXO presently. I informed him about the PR that Michelex just released, that they have a NEW Financing deal with another company, and according to Management, Michelex has not drawn off the SEDA with Cornell. I asked him to call me back if possible with an explanation. I also informed him that several investment groups are looking into this as an investment opportunity for a SHORT SQUEEZE, since MLXO is so undervalued at this price and a large short position with new financing very unwarranted. I left this message during lunch, I hope he gets severe INDIGESTION when he gets back and hear this!!!!!!!!!!! LOL! HAHAHAHA. We need more people to call and rock their world. Come-on guys, whats a phone call? Let them know what you think is going to happen when a short squeeze begins!!!!!!!!
http://www.cornellcapital.com/
http://www.cornellcapital.com/our_team/the_partners/index.asp?Section=4,1,0
wantoberich; Thats why I am calling Cornell to see if they know about getting booted from Michelex, hopefully they don't know about it yet, and when some higher ups find out that they are at risk of getting caught short, they may cover in a hurry, thats what I Am hoping for anyways.
wantoberich; I don't expect anyone to make Investment Decisions based on someones phone call, but I have been saving all the T&S sheets for MLXO since march and I really don't see any sign of Cornell Covering, thats why I wished the company would have some sort of a PR refering to this. Ya Cornell uses Money from short selling to make money, they may have all that short cash invested somewhere else making a % gain and only bring it back to MLXO when they need to. They are some greedy SOB's.
new2005; Cornell has alot of deals going on, I'm not sure how well they follow exactly what their clients or should I say EX-Clients do. I called Cornell twice today to talk to a guy named Jerry at ext. 118. He handles inquiries like mine I was told. I want to find out if they know that Michelex has new Financing and they don't need Cornell short money anymore. If they are unaware, and find out, they could cover all of a sudden and be done with it, we could rock to .07-.10 like that. If a few others would call that would be great. Cornell #(201) 985-8300. ext.118 Jerry.
wantoberich; Thanx, wasn't sure had to check!LOL
wantoberich; A Joke? or care to explain?eom
alleyoop007; I fully agreee with you on that one, even Tom G. confirmed that a substantial short position exists on MLXO, he didn't know the size and he said he could not give me details about it even if he did, he is being very careful what he releases to shareholders on the phone, he doesn't need trouble from the SEC for giving out inside info. But I believe Cornell dropped this rock in the water and have just left it sit there for now, thats why I called them, I would like to see if they are up to speed on MLXO getting new financing and leaving them in the dust?
harr449; I read that but I didn't ask him about it.
I've got a call into Cornell right now, the guy that would handle questions like mine, his ext. is 118 for anyone who would like to bug the hell out of them, the phone is; (201) 985-8300. I informed them that I am a shareholder of Michelex and would like to see if I could get a comment from them on their massive short position they hold in MLXO now that Michelex has signed a financing deal with someone else due to the massive shorting by Cornell and the fact that Michelex has not used a dime of Cornell funds from the SEDA they signed. Maybe if we rock Cornells boat a little and get someone there to realize that one of their SEDA's just took a kick up the rear and if they have shorts out there they better do something because Michelex is COMING BACK BABY!!! Just thought I'd post this info in case anyone else here feels like rocking their boat, I personally love to do things like this! LOL.
sawdin; They were probably hoping for it to tank into the subs, The company needs to put out more news than this, we know nothing of where they stand with the Cornell SEDA they signed last fall, or why the didn't file the 10k, whats their plan to get back in reporting status, and their plan to deal with Cornell. They need to address all those issues, I think Investors want to see much more from the company before buying right now, this was a good PR, but it only addressed one issue.
sawdin; I believe Cornell has covered some of it's short position, they still have a good size short out there, Tom G. even confirmed that with me, he said that they don't know how big the position is and he couldn't disclose it to me anyway, but their people know it's still there.
ecp1976; I see no reason for Cornell to hang around with a short position on MLXO anymore at these depressed prices, if they do, they run the risk of having to cover at much higher prices. Cornell Capital are Pros and they don't usually make stupid mistakes like that. Now that the Wells Fargo debt is bought out, and Cornell is out of the game here, for them to hold on to a short position would be very stupid In My Opinion. With this new financing Michelex can get business rolling like it should be and not have to turn down business because they can't afford to pay for raw materials. This is very bad news for Cornell, Tom G. said they have a plan to combat Cornell, looks like this is just the begining of it.
ecp1976; Looks like the Michelex Ferrari got a fill-up. I would expect more PR's soon. I hope so, I'm going to try and find out where Tom G. is today and see if I can have a little chat with him and try and pry some more info. Looks like the Market is reacting in a positive way, ask .027! I just want to see Cornell Hit the Dam road and take their shorts with them right now, thats what will get us at least back to .05-.10, in my opinion.
new2005; Nice, Maybe your notso bad after all,LOL!
Hope this PR gives June to Michelex!eom.
new2005; Better watch your bashing since superjim just made Hurley and myself assistant managers, I have ran several boards in my time and I have an active one on Yahoo right now, I believe people have their right to their opinion, whether it is positive or negative, optimistic or pessimistic, your comments are welcome here but "BASELESS BASHING" Just to bash those who are trying to find something good out of this mess is not acceptable in my opinion. You have an opinion? Fine, no prob. but you don't have a right to bash anyone here who is spending their time and money on Longdistance calls looking for answers and posting them. If you continue insulting those who are putting their time and effort into their investment here and posting what they find, WE WILL BOOT YOU, PERIOD.
SuperJim2001; Thanx much for the assistant moderator position, we only seem to have one Punk basher around, but maybe he will wise-up, or get the boot.
wzebra33; I agree, the Market-Cap puts this in the low teens at the very least, so the .20's could very well be fair valuation land once Cornell exits.
ecp1976; Same to you, thanx for all the support. Hopefully we all get out of this with some profit!
superjim2001; I spoke with Tom G. on Thursday and he told me that the new Financing deal was DONE AND SIGNED! A DONE DEAL. WAITING TO BE PR'D.
new2005; Your LYING about my posts, I never said the 10K was to be filed by sun. the last day, I said thats what day I think was the last day to file and that TOM G. told me he was confident they would make it, obviously they didn't, THATS NOT MY FAULT, I just posted what was told to me so, Go be a PUNK somewhere else eh?
new2005; Hey Punk, Show me one post where I advised ANYONE to HOLD??? I have stated that I am holding, MY OPINION is that longs who sold @ .01's - .02's will regret it. But I have given advice to NOBODY on this board! Except you and that advice is to grow a brain that has some manners along with it. Also I POSTED that Tom G. told me they "ARE NOT DILUTING" and that all will be revealed in the PR that I would expect Tues. or Weds. You have the attitude of a BASHER ya know, I have dealt with your kind many times, anything to plant seeds of doubt even after people have went out of their way to find information on the company. I certainly have better things to do with my time, but I have invested a ton of cash in this and stocks that I have alot riding on I always keep up to speed on what the company is doing and I "WILL" post my findings, if you don't like it, then go FVCK yourself, personally you seem like a real azzhole to me.
15Mil Assets a JOKE??? I'm not defending the companies actions in the handling of the Cornell Torpedo that has tried to sink Michelex, they definitely could have done a better Job and had more Communication with Investors. But I believe that this is going to turn around, they just "SIGNED" a NEW FINANCING DEAL Thursday!!!!!!! Cornell will be forced to cover, Cornell will not let themselves get burned, they are too smart for that, they may not cover in the subs like they would like, but they will when they see that Michelex is turning around and getting profitable again without them. We are down in the .01's because some longs bailed, like Superjim (450K shares), I think Superjim will be kicking himself in the ass soon for it to, no offense meant Jim, but I made that mistake with DWMA earlier this year after finding out they were being bought out and doing a 1/5 Reverse split. I had bought a shitload @ 1.40 it dropped to the .60's, one day it jumped to 1.10 and I bailed thinking I would cut my loss and take a gift at 1.10, 3 days later that SOB Ran to 1.80's, I'm still pissed, I lost thousands when I could have made thousands if I had 3 more days of patience!!! Lesson Learned in the Patience Dept. I personally think that Michelex is a solid enough company that they should be trading in the dollars on the NAS, I think the forward split that they did last fall was a mistake, just like the Cornell deal was a mistake, when this ran to the 1.50's they should have took a shot at a NAS listing and if they had better advisory people last fall and not done the forward split I think that would have been possible if they had hooked a good financing deal, this company has orders coming out their ears that they are turning down because they need capital for raw materials!!! They have plants in France now that we have heard nothing about yet, wait till they get their ducks in a row, and get this thing firing on all "12" cylinders, a few months from now the single digits may be a dream. We know just by their assets/revs and O/S that their Market-cap is valued in the teens for Gods Sake! When Cornell starts the EXIT ENGINE, MLXO will be all over the message boards, all in my Humble Opinion of course. new2005's comments and a few Margaritas got me going there! HAHAHA LOL.
28 years of Profit, 12Mil Revs Is No Joke!eom
Last PR March-9th "2005" 10.5 weeks ago read below
Michelex Merges with Hindsight Records
Wednesday March 9, 7:05 am ET
MASSENA, N.Y.--(BUSINESS WIRE)--March 9, 2005--Michelex Corporation ("Michelex") (OTCBB:MLXO - News) announces that it has completed the acquisition of Hindsight Records Inc ("Hindsight"), a Californian Corporation located in Massena, New York. Hindsight owns over 9,000 copyrights and masters, some of which are sold at Amazon.com and other stores nationally. Michelex acquired all of the capital stock of Hindsight in exchange for 100,000 shares of Michelex common stock and an $800,000 promissory note in favor of Hindsight selling stockholder and assumption of certain obligations of Hindsight under the convertible debentures in the aggregate principal amount of $1,000,000.
Thomas Gramuglia C.E.O of Michelex, states, "This acquisition fits right into the media division of Michelex and should help secure funding to continue operations and work on growth for the company."
ABOUT HINDSIGHT:
The Hindsight catalog was created originally by the late Wally Heider - who specialized in studio recordings and the music of the Big Band era.
Gramuglia acquired the Hindsight catalog from Heider in 1979 - and began an immediate expansion of releases from the music of the 40's through the 60's, featuring Artie Shaw, Duke Ellington, Les Brown, Harry James, Woody Herman, Count Basie, Benny Goodman, Jimmy Lunceford, Doris Day, Rosemary Clooney, Kay Starr, Johnny Mercer, Stan Kenton, Lionel Hampton, Benny Carter, Glen Gray, Eddy Howard, Jimmy Dorsey, Claude Thornhill, Dick Jurgens, Freddy Martin, Russ Morgan, Buddy Morrow, Bob Crosby, Jerry Gray, Helen Forrest, Mel Torme, Frankie Laine, Helen O'Connell, June Christy, Jan Savitt, Charlie Spivak, Billy Butterfield, Sarah Vaughn, Bobby Troup, Alvino Ray, the King Sisters with Frank DeVol, Tiny Hill, Sammy Kaye, Clyde McCoy, Jan Garber, Larry Clinton/ Bea Wain, Charlie Barnet, Carmen McRae, Henry Busse, Lester Lanin, Guy Lombardo, and others. Gramuglia's technical staff - made certain of the sound quality - before approval of these select records being issued in CD or other formats.
Hindsight's Massena headquarters warehouses all products - and acts as the control center for all business transactions. In releasing the Big Band era product, Gramuglia made certain of authentic - in-depth liner notes by securing the services of established music writers such as Dave Dexter, Jr., Eliot Tiegel, George Simon, Irving Townsend, Brad McCuen, etc. Veteran music industry executive Bobby Weiss utilized his numerous music business contacts to assist Gramuglia in securing rights to the majority of Hindsight masters.
Gramuglia sold Hindsight in December 2004, and approximately one week later, Michelex completed its acquisition of Hindsight on December 30, 2004.
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.micheleaudio.com
Safe Harbor:
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company's SEC reports.
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Contact:
new2005; Do you work for Cornell Capital???eom
bankofblake; I agree, it's time the company starts to think a little more about it's investors, according to Tom G. he was made aware of what Cornell was doing to them in March and they have not even released one PR to address the decline in PPS since last Nov. and it's going on 3 months since he was made aware of the relentless short selling going on. He really needs to step up to the plate and give the Investors here some info. I bought a bunch of this back in March in the high .07's and have sold off several other investments that I had to average down in this, so I'm starting to get a little Pissed off here from their lack of communication publicly with the Investment community.
superjim2001; Sorry to hear about your loss, now we know one of the big reasons the PPS took a dive on Monday, thats a lot of shares to dump in one day compared to the average volume we have had over the last few weeks. I think the MM's are keeping us in the .01's on the bid looking for more longs that are sick of holding the bag. I just hope your not kicking yourself in the ass in a couple weeks after the company puts out their news, this thing might take one heck of a bounce, it's just way way way too undervalued at these prices, there are companies out there with NO REVS trading higher than this and a 26 Mil float is nothing for a company with an asset base like this and revs of 12Mil.
superjim2001; How many shares did you have?eom
alleyoop007; Just that Cornell isn't known for Naked shorting, I was told when they sign a SEDA with a company, they reserve shares to sell short with the DTC so they are not naked short positions, I guess really after re-reading your post we were basically saying the same thing.
Remember The DEAD CAT!!! LOL!eom