Trying to make a buck and learn on the way.
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The confusion came from the fact that the current Moderator had up until today said that there was an exception to the rule about posting about other companies on this board(refer most recently to post #11256, link below). Now that we know that is no longer the case, we shall discontinue posting about it.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=50070790
There are other reasons...... such as the fact that our management hasn't followed through on a single thing they said they would in the past 8 months.
Some of the pumpers in this stock are unbelievable saying things like "Just wait __ months," when we have heard that kind of thing every month for the last 8 months, and guess what, each month that is said, the stock price continues to fall. This thing is going nowhere until management can actually follow through on some of the things they've promised us. Let's hope they're able to step up to the plate and deliver soon, because this is getting really old.
I hear that man, I'm with you all the way about a green pps.
You want specifics, you got them. It is very simple.....
It would please me for management to follow through on what they have promised us (both privately and publicly). I believe that if management actually followed through on the things they said they would that this would fly.
Publicly we were promised/offered a forward split, deals with Janus Corp and Bluwood Intl., an "investigation" of EPRO shares, Zenergy being hired to market our product and redesign our website, and a complete cut of all ties to "that other company". BUT MOST IMPORTANTLY, we were told that we had our own new MEVT fire inhibitor. We still have absolutely no evidence of this at all and it would please me to see testing of this new fire inhibitor (especially since we know this same management did so much testing on our last fire inhibitor). None of these things have come to fruition yet.
Privately, myself as well as other shareholders here have been promised a "certainty" of EPRO shares, an awareness campaign, and a big name being brought in to contribute who previously was involved in the automobile industry. Again, none of this has come to fruition yet but I am more concerned about the public promises than the private ones.
So in a nutshell the answer to your question is management delivering on the things they said they would. Especially any proof or testing of our new fire inhibitor which we supposedly create and manufacture ourselves, because this fire inhibitor is the key to our whole company.
Now I have the same question for you. What would you like to see from our management? If you are not already pleased with what our management is doing, what would please you?
ps- I enjoy these productive conversations about the company we are invested in. Thanks, Reality.
Depressed, maybe..... given up hope, no way! No one has given up hope, things just don't look very bright right now because management has been the opposite of transparent while the stock price plummeted. You never know when management could turn things around though, all it takes is some transparency and management actually following through on their word for the first time and this thing could potentially fly.
Shouldn't the agreement have been included in the 8k filing? Or is that not something that companies are required to disclose to the SEC?
No, I'm just going with the common sense that any time this management has issued shares (dividend, split, etc.) in the past it has been with restricted shares, and the common sense that it would not benefit management financially to give shareholders unrestricted shares at a higher price than the current shares they own are worth.
Anyone is allowed to post their opinion about their investment, no matter who threatens or bullies them. I apologize if my views of what this company has accomplished in the last 8 months (absolutely nothing other than lying to shareholders) are not in accordance with your views, but I am entitled to them and I am entitled to share them. If someone disagrees with my assessment of what is going on here then they should respond in a rational manner with the reasons why they disagree to disprove my points rather than trying to bully or threaten me through either private or public means (this is not directed at any one person).
Those who do respond to my rational posts with threats and bullying really just help to prove my points by showing their insecurities, and the fact that they don't actually have any rational arguments for why my points may be incorrect.
Hopefully this management turns things around and we can all profit, but until they actually produce results nothing they say can be trusted since nothing they have ever said has come true.
I can understand that you would rather be in a BB company with restricted shares than in on a Pink sheet company normally. However, in this specific situation, this will be the EXACT SAME product, EXACT SAME management, and nothing will be changed except for the fact that our shares will turn into restricted shares thus limiting our liquidity while improving nothing at all for us.
For us shareholders, it would be more advantageous to get things going here in MEVT and keep our liquidity (and then eventually move onto the BB). Otherwise, Trahan and Baldwin will have unrestricted shares to sell and make money off of when EPRO hopefully gets things going, while we will be stuck holding restricted shares. Additionally, if everything is going to be the same (product, management, gameplan, etc.), what makes us all trust that they're going to be able to pull off in EPRO what they weren't able to pull off here in MEVT? Better yet, why haven't they been able to pull it off in MEVT to begin with? These are legitimate questions. It has been 8 months now and management has not delivered on a single one of their promises.
Until management proves they can actually produce results, why would we want our shares turned into restricted shares while the product and management and everything else stays the same. I don't believe having a BB status instead of a pinksheets status will bring in any more money or volume at all without any results.
There is absolutely no chance that we get unrestricted shares of EPRO, it's just not happening. Don't know where you pulled that one out of, statements like that just come off as blind pumping and people can see right through them. Any experienced investor would tell you that not only would it be stupid to issue unrestricted shares of a stock to shareholders (at a higher price than shares they currently own), but this management's track record also clearly indicates that that is certainly not in the cards.
I wish our glasses here were half full..... unfortunately, that just doesn't seem to be the case. Things are becoming a little bit more clear every day over here and it's not looking good for us longs. I mean who EVER thought we would be sub 0.10?!?! It seems the market has truly spoken, and we were the ones who just didn't realize it..... that's life I guess.
It's just another ploy to distract and delay us shareholders with (keeps us busy with "hope" and "promises" for the future) while management figures out another way to make more money off of us with "acquisitions" of companies that they already own and promises of forward splits which never happen.
I'm curious what will be next.... because trust me we will once again inevitably have another "delay" which management can find a way to profit off of while us shareholders are stuck here wondering what went wrong with our "investment". Another "delay" of some sort is imminent with this management.
"Why not validate that MEVT is legit by releasing news, etc...about our new product? Update the website. Come clean on some sales to Bluwood. Get compliant with financials. There is no reason if everything that is said to be in place is true that MEVT wouldn't be a better vehicle to run with. With EPRO acquiring us and our product, which is yet to be unvieled btw, the only ones who make out like bandits is management. If this management can take EPRO over the top by acquiring MEVT why can't they just do it with MEVT as it is??? But that's been the question all along."
Now that is truly the question. These are EXTREMELY valid points that we as MEVT shareholders need to think long and hard about. If we get "acquired" by EPRO then we will all just be stuck holding restricted shares for god knows how long. If it's the exact same management and the exact same product and we were trading just fine last fall, why can't we just do it over here in MEVT? Why do we have to move to EPRO? If management can get big names to jump onboard with AWSL on the pinksheets, why can't they just do the same here over in MEVT? It makes absolutely no sense and I as an investor would prefer that management just implements their plans with MEVT rather than making all of us long and loyal shareholders take restricted shares just so they can make more money for themselves by moving to EPRO in an acquisition where they are paid with our money. If that is what happens, then they have truly exposed themselves for what they are, and taken advantage of us shareholders once again.
MEVT and EPRO cannot merge. MEVT would have had to have been a fully reporting company for at least 2 years. Since MEVT has never been a fully reporting company, a merge is not possible.
Just stating the facts man. All MEVT investors should be seriously concerned now if they were counting on a dividend of EPRO shares to bail them out of this crappy situation.
It's interesting that you always try to change the subject from the actual facts that I am presenting by accusing me of whining (a pretty desperate ploy).
"If MEVT management does not give out those dividend shares it would cuz too much of a stink."
At this point it wouldn't matter, this stock price is already in the dumps, there is almost no volume here (except occasional selling) and this management will do what they want. This is just like the forward split situation where management will screw over us investors if they feel like it. At least this time they didn't publicly promise EPRO shares before renegging like they did with the forward split (they just privately promised it to many investors while publicly saying "investigating").
They have now created a "legitimate" excuse to leave us MEVT'ers behind while moving on with EPRO. As of right now, we're all pretty screwed.
How do you figure that since MEVT now has no EPRO shares to give out (previous agreement terminated) that we now will "most definitely get our EPRO shares".
It seems counter-intuitive to me, but I certainly hope that's the case..... it just doesn't make sense.
The news was that MEVT was investigating giving us EPRO shares as a dividend (shares they would receive as the $5 million payment for the Hartindo rights). Since they are no longer receiving any EPRO shares for the Hartindo rights, I would think that the dividend to shareholders is definitely off since they no longer have any EPRO shares at all to give. I certainly hope this is not the case, but things are looking even worse now than before, and things were not looking good before.
EPRO news out about the Hartindo deal with MEVT:
Termination of a Material Definitive Agreement
As previously reported, the Company's chain of ownership, pursuant to which it had acquired from MSE Enviro-Tech, Inc. ("MEVT") certain rights to the Hartindo fine-inhibitor and Dectan rust protector and fire inhibitor products, has come into serious question. However, at the same time, the Company was indebted to MEVT in the amount of $5 million to pay for those rights.
Management is pleased to announce that it has successfully negotiated with MEVT a termination agreement, pursuant to which the Company has relinquished all rights to the Hartindo and Dectan products, and has been released from all obligations pursuant to the $5 million promissory note.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 10, 2010
ELEMENTAL PROTECTIVE COATINGS CORP.
Does this mean that we are now not going to get the EPRO dividend shares since they were the $5 million dollar payment we were to receive?
If so, it seems as though management has failed to deliver on promises once again and left us in the dust to move on with EPRO.
This is from Oakland:
"The market has spoken, IF EPRO was getting ready to trade, and MEVT share holders were going to get the shares that everyone claims, BIG money would be all over this, they know before anyone else, nothing has showed yet... i will continue to watch this but not too optimistic at this point. NOW they say (EPRO) will be trading first part of June, we'll see, best advice is FOLLOW THE MONEY it will tell everything...Remember the NEWS was they would investigate the possibility of a dividend."
I want to clarify that this is Oakland's opinion, not mine. I just thought it was interesting.
I agree with you that there has been no clear back up with solid DD on that statement (trust me I am just as skeptical as you are until we see some proof). I was just referring to the message that many other MEVT investors have been recently spreading here.
Doubtful. All the signs point to management taking MEVT investors over to EPRO with a dividend of shares. That kind of price movement theoretically could be seen in EPRO though, just probably not in MEVT because it looks as though MEVT may no longer be a part of management's greater plan and things may be moving over to EPRO (according to some of the posters who have been posting on this message board). We still haven't heard any details from management though, so we will just have to wait and see, I certainly hope we can still see that kind of price movement here in MEVT and not have to wait for (probably restricted) EPRO shares, that would be awesome.
I think you are mistaken when you direct your negative post at me. I'm holding long here and I have not recently attacked any other members specifically or as a group. Let's hope MEVT turns things around soon!
Thanks for doing such a great job managing this board Doubloon!
This sucks. Maybe next week will bring some news.......
We are going to be screwed if we don't end up getting any EPRO shares because this stock is dead and evidently no longer in management's plans. Let's hope for news of EPRO shares soon..... and let's hope that EPRO can actually make something happen.
So many IF's and questions here, but there's always a chance it could work out. We'll just have to wait and see.
Completely understandable. Thank you very much for sharing with the board. I wonder how soon after EPRO starts trading we might hear something from management. I'm hoping it's the day of, but I'm not sure that is realistic. Any opinions?
Thanks for sharing that with the board, BklynBoy. What number were you able to reach Trahan at?
Why was this re-posted? It is already a sticky note.
"its pretty obvious that they put the forward split on hold, in view of the new BB company/vehicle coming into the picture"
That is not true. The new BB company/vehicle came into the picture (was acquired by Trahan and Baldwin) on the same date Trahan and Baldwin announced the forward split to the public in November, they didn't just acquire it without already knowing their future plans for the company. Thus they did not decide to put the forward split on hold because of the new BB company/vehicle coming into the picture. When they announced the forward split they had to have already known about their future plans for what would become EPRO(especially since it coincided with announcing the forward split in MEVT). Not only did they already have future plans for EPRO when they announced the forward split, but they then waited until AFTER THE DATE OF RECORD to postpone the forward split. A company that really cares about their shareholders would have never waited until after the date of record to postpone something and then it became even worse because it turned out to be a complete lie as we never heard another word about the forward split from them and were specifically told we would.
"i think its safe to say that management genuinely wants the share price to go up, and really dont want people to lose their money"
I do not believe that it is SAFE to say that management genuinely wants the share price to go up and really don't want people to lose their money. My reasons for this are the lack of bid support by management and current price movement (to new ALL TIME LOWS almost every week) the last few months. If management really didn't want people to lose their money we would have had more bid support from them so the stock price didn't keep plummeting. Until management demonstrates otherwise, it is safe to assume that they haven't done anything at all about the falling stock price (bid support, updates, transparency, etc.) and thus do not care if the current group of investors has lost any money at all (and we have lost a considerable amount). They have to prove that they care, we can't just believe they do with absolutely no evidence of it, and lots of evidence to the contrary.
On a separate note, one of your posts says that MEVT/EPRO will obviously become one company moving forward. Why do you think that? I was under the impression that is not even a possibility because for a merger like that to take place MEVT would have had to have been a fully reporting company for the last two years. Since they have never been fully reporting, they can't merge with another company.
Sky, In response to your PM the stocks I am invested in are: AAPL, ISRG, F, C, BAC, AIG, and MEVT. And the dance begins.....
Good luck to the NAIA! I'm sure this will be quite the profitable alliance.
That was not an update on the forward split.
The press release in January specifically said, "The Company also wishes to notify its shareholders that the recently announced 3.5-for-1 stock split has been temporarily postponed pending a revision of the official payable date and final clearance by the Financial Industry Regulatory Authority (FINRA). The new official date will be announced as soon as it is finalized, expected in the next few weeks."
The issue was never revisited like they said it would be in the press release, and they never said that the investigation of a dividend of EPRO shares was instead of the forward split.
I completely agree with the person who e-mailed you, Cisco. I am also prepared to lose everything I have invested here in MEVT. I also have made a lot of money in other stocks recently (not penny stocks). I also reserve the right to post my opinion about my investment and the current happenings with it. Good luck to all MEVT holders. Hang in there through this lack of transparency..... hopefully things will change soon.
They did lie about the forward split because they clearly said we would be updated in regards to the forward split within a few weeks. That was back in the beginning of January. They then never updated us on the forward split either positively or negatively. Thus they lied. It is plain and simple.
Not to mention that they didn't even delay the forward split until after the date of record of the original split, but that's a whole different issue.
I did and was clearly told by Brent that he was, "Bound from answering every single question you asked but am confident that management will do the right thing, in the best interest of shareholders in each regard."
If someone chooses to invest or not invest their money in a stock based on messages posted on an online forum, they are not investing their money wisely. Forums are a place for discussion of a stock and no one should ever invest or not invest based on what they read on a forum, but rather ALWAYS do their OWN due diligence.
I agree that they probably intended to do the forward split when they set out to do it. That's not the issue. The issue is the lack of transparency. Whenever it was they realized they weren't going to do the forward split, they should have informed us, and informed us of the reason why.
This is exactly what many of the investors on this board have been talking about as the issue with this management right now. They said they were doing a forward split, then they never did it and never even mentioned it again. That is lack of transparency. Transparency can go a VERY long way in the pinks, and this management just doesn't seem to have it. That is the issue with this stock, and it needs to be addressed for positive progress to be made. Until management decides to be more transparent we will continue to have these same issues.
WAG 05/07/10 11:05 AM.
All of my "negative" posts were just in response to people who are misconstruing some of the facts, by pointing out the actual facts to them.
6 weeks? I'm curious as to where that timeframe came from. Back in November, December, January, and February people were always just saying "next week" or "this month is the month". Now the timeframe is 6 weeks. It just seems like more of the same empty promises, nothing concrete.......
Let's hope management can turn this thing around and SOON, because losing the key .12 support level today was not a good thing for us here, not to mention the fact that we hit single digits does not bode well either.
Speaking of losing support levels, back on February 17th, post #8796 said "today proves our management will step and support shareprice as needed."
Since that was posted, the shareprice has fallen 50%. It doesn't seem to me like our management will step in to support the shareprice at all. If management has said otherwise, I would be cautious to believe them.
Post #10868
I am simply stating facts.
The fact is: they are choosing to not update us, it is not forced upon them and it would not break any SEC regulations if they gave us an update on issues not pertaining to EPRO or the dividend investigation.
That is their prerogative, I view this as a lack of transparency.
You are correct that you and I do not know what is best for the company. However, I do know that lack of transparency is not best for us the shareholders because it is what has caused us to decline so much in stock price. Continuing to hold the cards close to their chest (cards which they've had since December and January) while the stock price continues to plummet is lack of transparency.
The fact of the matter is that a company must have a "silent period" before its initial public offering etc. The company we are referring to here is EPRO.
The same does not apply to MEVT as long as they release news which is not about EPRO or EPRO dividends etc. Any news pertaining solely to MEVT (past deals, our new product, etc.) is permissible in a press release as long as EPRO and MEVT aren't merging (which is not the case because MEVT would have had to have been a fully reporting company for 2 years). The company is just choosing not to update us.