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MDHI in default of their state license requirements.
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=zr2345tTCaAV%252fEbgSJrtfw%253d%253d&nt7=0
Watch out for debt holders selling into any news. CAVEAT EMPTOR. You're going to get double hit on any dilution. Some for the debt holders upon conversion and some for management to protect their ownership percentage.
Fave sentence in the 8-K: The Management Team’s 27% common stock ownership shall be protected through anti-dilution provisions.
If the Company issues additional shares through financings or for any other reasons, additional common stock will be issued to the Management Team to maintain their original 27% common stock ownership, less any shares previously sold.
I already provided you with the PR proving that YESD is no longer associated with MDHI.
Joseph Noel, CEO of YesDTC, commented, "The results of the testing on
MotorBooster thus far has been so dramatic and the possibilities for fuel
savings across a multitude of industries so vast that the Company and Board of
Directors believe the Company and its investors will be best served by focusing
exclusively on this opportunity going forward."
Death Spiral Financing.
As further consideration of the substantial investment, the Fixed Conversion Price of the Notes and the Exercise Price of the Warrants shall adjust to two one hundredths of one cent ($0.0002).
On September 16, 2011 the Company issued promissory notes to an accredited investor totaling $85,000.00 for the Company, a form which is convertible into shares of the Company's common stock at a fixed conversion price equal to the lesser of the fixed conversion price of $0.0002, or seventy five percent (75%) of the average of the closing bid price of the common stock as reported by Bloomberg LP for the principal market for the 5 trading days preceding the conversion date.
It couldn't have happened to a nicer company. :) I wonder when the next fake buyout will be announced so they will have one more opportunity to dump shares on the naive public before they reverse split for the 3rd time in 4 years.
Sure there is. Their supposed design partner, Lathrop, has responded to inquiries saying that they have no agreement in place with BMGP.
Nobody doubted that LANL was fulfilling their obligations as they are a reputable laboratory. The question has always been BMGP getting the product designed and approved for commercialization. Those questions still remain as there is no evidence whatsoever that any progress has been made towards ruggedization, minituarization, or testing.
That doesn't even make sense.
LOL. As if I could short this POS company. Regardless, go back and matchup PRs to the chart and you'll see that the price drops on news much more often than it rises. Because the news is invariably fluffy BS.
Motorbooster as a company, and a product for that matter, does not exist currently. No name change documentation has been filed with the State of Nevada. You can't change your name simply by issuing a PR.
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=GMDnIkCpwFB7hR5R6rxfng%253d%253d&nt7=0
What part of this PR by YESD is unclear?
Joseph Noel, CEO of YesDTC, commented, "The results of the testing on MotorBooster thus far has been so dramatic and the possibilities for fuel savings across a multitude of industries so vast that the Company and Board of Directors believe the Company and its investors will be best served by focusing exclusively on this opportunity going forward."
ex·clu·sive /?k'sklus?v, -z?v/ Show Spelled[ik-skloo-siv, -ziv] Show IPA
adjective
1. not admitting of something else; incompatible: mutually exclusive plans of action.
2. omitting from consideration or account (often followed by of ): a profit of ten percent, exclusive of taxes.
3. limited to the object or objects designated: exclusive attention to business.
4. shutting out all others from a part or share: an exclusive right to film the novel.
Yeah, it goes down on news a large percentage of the time. The only time it doesn't is when they pay some penny stock pump sites to help out.
MDHI is on the edge of bankruptcy, unless of course they can find some suckers to buy more shares. Motorbooster doesn't even exist. How are they going to show positive results and positive pps?
Wow, you're right. This thing is ready to fly to the moon. Well, it might be except for the fact that they have inaccurate financial statements, a gagged TA, and no confirmable sales.
No, really it isn't. It's an OTC shell that's lost all of its customers and is now left with a magic gas pill. They didn't choose to be stuck with one product that isn't available for sale; they were dumped by all of their other customers.
Wait a couple weeks and they'll be available much, much, much, much cheaper. Like $.0005 or so.
Except that agreement doesn't appear to be in place anymore as MDHI has a new marketing partner. Hopefully, for MDHI's sake, they got better terms this time around.
Apparently the company disagrees since they waited until the last possible moment to release their 10Q containing the information. This ship is sinking fast. Should be an interesting morning for the PPS after all of this horrendous news.
10Q is out. Wordsmart is gone. Almost no revenue. Man, this is really, really bad.
On June 1, 2011, the Company’s license and distribution contract with WordSmart Corporation for the distribution of the WordSmart product was terminated by the mutual agreement of the companies due to the Company’s inability to secure adequate financing to appropriately market the product and to unusually high credit card decline rates for customer monthly payments due to the Company. The termination released the Company from any future liability for the product as well as to WordSmart Corporation. As of June 30, 2011, the Company recorded a reserve for accounts receivables in the amount of $370,912, wrote off prepaid license fees of $200,000 and reversed accrued product liabilities of approximately $22,000. The Company plans to pursue its receivables but cannot estimate the amount which will eventually be collected from accounts in arrears. While the Company expects to incur no additional liabilities relating to the WordSmart program, the exact extent of any future potential liabilities relating to the winding down of the WordSmart program are not currently estimable.
I don't disagree. However the fact is that BIEL was denied a year ago when they received their NSE letters. When they began the DeNovo process it started a whole different clock. The pending 510k application for additional prescription use was only filed a couple months ago.
Not at all. I'm not a government employee, but I find it amusing how penny stock investors always look for someone other than the company to blame.
It amazes me that these govt workers do not realize the impact on small businesses of their decisions and delaying the process.
Message for BW. These silly distribution PRs only move the price when accompanied by a paid penny stock pump campaign. If you want to continue to dump shares on the market you're going to need to pony up additional investor money to do it.
Deadline to file financials before getting dropped from OTCBB is tomorrow. It could get ugly if/when that happens. Buyer beware.
http://www.otcbb.com/DailyListContent/delistings/OTCBBDelOpenReport.pdf
GCRC - Sure, go for it.
I worked at a company like this and the focus isn't their website. It is the stores that they service.
Just look at JN's 2011 disclosure related to BIEL.
In the case of
BioElectronics Corp. (BIEL.PK), Emerging Growth Research has received two million
shares of stock from the Company for consulting service similar to related work we have
performed for the Company in the past. Going forward, we hope to continue to have
BioElectronics Corp. as one of our clients as we have a favorable view of the sector in
which this company operates and the management team.
No need to apologize to me ghost and I never take any of this stuff personally. I sincerely hope BIEL is successful and you all end up rich, but people need to keep their eyes open and be aware of both sides of the equation.
Yes, I do believe he had a choice in the long run. A large percentage of those shares were given to family members, specifically his daughter, to pay off a minimal amount of debt at a price SIGNIFICANTLY below market value. If what they were doing was in the best interest of the company then why not wait to pay her off until after the FDA approval that they were sure was coming?
Look, I've never said that BIEL was an outright scam, but I do think Andrew has done some very shady things over the last couple of years. Not least of which were the made up sales of veterinary patches to his sister in 2009 that were reversed and mysteriously showed up again on these last quarterly financials. Does anybody honestly believe that the vet patches are moving that well?
His opinion is just as valid as yours.
Then why did they give him 2 million ADDITIONAL shares THIS YEAR, right around the time of the FDA press release, to provide services again? That is my question.
I believe that he got rid of him because JN's name was becoming toxic in the penny community and he was scared that it was reflecting on BIEL. Why did he issue him 2 million additional shares in 2011 if he thinks JN is such a bad guy?
That's ironic since Andy hired him specfically to pump the stock in the first place. It allowed him to drop 1 billion shares onto unsuspecting investors in 2009. Nothing that has happened with BIEL can be blamed on JN any more than it can Mr. Whelan. And I'd bet that Andy has no more idea of when the FDA will render a decision than the people on this board do.
Nobody on this or any other message board has any influence on the PPS. It is what it is today due to lack of demand, as further evidenced by 0 shares traded today after this big news.
If you're referring to the plan of getting kicked off of OTCBB and dropped down to Pinksheets limited information, then you're absolutely correct. Mission soon to be accomplished.
It means that the company may be getting a capital injection, but current investors will likely be getting an injection of a whole other type.
These include a new injection of capital into the Company