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art
The co has to pay over $100,000 per month for a loan made by the ceo. Also your figures do not take into account the expenses related to being a public co. They also pay $1300 a month for vehicles. So now the shareholders will be picking that up every quarter plus 50 mil options every quarter plus pay a salary of 300K per year.
Sorry art no value here.
So much for this being a profitable co. EOM
http://knobias.10kwizard.com/filing.php?repo=tenk&ipage=3009021&doc=1&total=&back=1&...
Noodle
The theory is that the acquisition happened after the end of the quarter and is not included in the 10q. The 10Q says during the q they entered the explosion proof etc. etc. I called i/r and was told that they did enter in the last q and they audited financials had not been concluded yet. I am assuming that the reason they were not completed was because they changed accountants.
I also wrote i/r an email asking several questions. I received a response stating that my info request was sent to their legal department and i would hear a response soon. That was a month and a half ago and i still havent heard a response.
The current pps indicates it's all b.s.. For all i know someone threw up a website talking about profits and facilities that it supposedly owns etc. etc.
If i lived in Houston or even remotely close to it. I would go down there and talk to C.E.O. Much like the I/R dept he does not respond to emails.
This is purely a technical analysis play at this point.
There is no fundemental info available to perform a proper valuation. With that said, the worst is priced in already. If this winds up being legit, it has explosive upside potential.
It is run like a pump and dump scam. They only release pr's when they have s-8 shares to dump. THeir I/R department isnt there to answer questions. Just to fascilitate their pumping and dumping. No audited financials from when this was a private company even though they were promised in a pr that 8-k's would be filed months ago. Vaugue 10q showing no revs with promises from i/r that there really are revs without ever answering in writing. And shareholders that are left waiting for some factual information from the company. That is why it is trading in the subpenny range.
Someone spoke to i/r, i think it was art and found out what the float is and it indicates that ceo dumped his option shares already. That is a bad sign. If this were legit, he would wait and sell after they file their audited financials and the pps rose. It appears he just dumped at any price which means he doesnt believe the price will go up. It appears that is how he will pay his salary every quarter. MOre s-8 shares.
This really is starting to smell but i still am holding out hope that it is legit. Like i said the worst is already factored in and it is a t/a play.
Expect some weakness in the coming days due to the 50 day m/a closing in with a panic sale in the high .002's. Then a huge rally the next day.
That has been the pattern. Of course this all changes with news.
Good luck!
Frankie
I think you will find i am no johnny come lately to this stock. I havent jumped on board. Maybe you should check post number 1 and see who wrote it. Or the 1st post on the raging bull board.
It is rediculous for a company to only release pr's when they have s-8 shares to dump. It is also rediculous for us to still be waiting on audited financials.
It's hard to sustain a rally when it's not on any watch lists. Why is it not on any watch lists? Because no news in forever. If this company released news other than when they have shares to dump it would help traders. Not to mention everyone has been waiting on audited financials for Marmion air both from their days as a private co and for the last q. 10Q says no assets. According to the website they own a priduction fascility. THere must also be some equipment and supplies involved. We still have no information to help formulate any type of fundemental valuation on this. Strictly a technical analysis play at this point.
I took a brief look at tnti
Very brief.
Very low revs. THey just had an s-8 and right before that had some restricted preferreds. I dint like it but that is just one opinion.
I think the 50 day m/a will create a problem for us without any news.
It is also close to time for another s-8 probably unless they obtained some kind of financing.
Since i have been following this, this only time this co has released any news at all is when they have shares to dump. I cant believe how long it has been since they have relased any news.
I sold some at .0049
i sold some more at .0047.
I still hold my core position just in case we get news otherwise i buy when the chart says buy and sell when the chart says sell.
All the momentum traders must be playing tfct. I wonder what happened to the bids that were showing up.
I doubt it will make it to .006 without any news. I will be looking to sell a portion in the .0055 - .0058 range nless i dont like the activity and decide to sell a liitle lower tommorrow in the am.
I'M already in
We may have to wait until tommorrow. If we see buying in the morning like we did today it wont take much volume to see the .005's.
Will we run today or tommorrow?
This should be interesting.
I wish i had level 3 so i knew how many shares are for sale at .004.
Here we go. IMO! EOM
Looks like a gap and run tommorow.
Some good news could propel it even higher.
Showing some strength.
Tommorrow could be huge.
I sent an email to bill and he never responded. Neither does loyola by the way. Take a look at the chart and compare early sep to now. When the 20 day m/a was taken out on the huge volume white candle it pulled back just like now just to have another white candle. I think we will see a run to the .005's tommorrow. Take a look.
http://stockcharts.com/def/servlet/SC.web?c=MRMN,uu[m,a]daclyyay[db][pb20!b40][vc60][iUb14!Ll14]&...
By the way the adx is over 20 now. That is a good sign.
I found another pr once that talked about thier fortune 500 clients. I remember Nextel was one and it listed a couple of others.
When we get audited financials it should show what assets this company has. I think i remember reading that they have a huge production facility and they must own a lot of equipment. That will help the pps tremendously.
Also When they took over the shell via merger they said that Marmion financials from previous years would be released via 8-K. They changed auditors a few weeks ago but it should be closing in on the time that they should be released. When these are filed it will show that this company has been profitable every year except 2002.
THere is so much potential here it is unbelievable.
There appears to be only one downside.
Dillution and the threat of future dillution. Hopefully this can be minimized.
It has been a long time since we have received any news. Hopefully we see some soon.
I found a couple of months ago using a google search that they have an exclusive 2 year contract with Saudi Arabia but i dont think they would be considered a third world country.
What happened to my board?
Just kidding. It looks great. NOw if we can get the 8-k for earnings when this was a private company. Then follow that up with aug revs and news on third party certification and info on the commercial construction business we can get the pps where it should be.
Thanks excel
I hope good news is around the corner. This could really blow up.
Explosion today.
Is anyone still holding?
Didnt take much volume to go through .003. It would have been nice if this co would have relaeased 1 pr without dumping into it to allow shareholders to profit. It's way too early for another s-8 unless this is a total dillution scam. Hoping to see a pr at some point. It's been a while. I guess they only release pr's when there are shares to dump.
Excel
Are you back in yet? If not what is your targeted entry point?
We should also see an aug revs pr soon.
We have been holding above the 50 day m/a now for a while. Seems to be pretty solid support. The adx looks awesome. Buys in the .0035 range appear to be a safe bet. I bought another 200k today.
news drought and viscious spread.
Should see a Aug revs pr and still waiting on 2nd q audited financials.
Excel
You may have already considered this but just in case you havent i'll tell you how i play it. I have a core holding of 500,000 shares but i buy more on dips and i sell them on spikes. In other words i also day trade it but i hold onto my core position because i honestly believe that it will have a good run at some point. We should get the august revenues pr soon and if it is timed right like you suggested to ir, this could easily see .014 the 50 day m/a. Just a suggestion. I am sure you have success your way but if you have never considered this other option. My core 500,000 shares are now free because of buying other shares on dips and selling them on spikes.
excel
Are you out? IF so why? We finally broke resistance and are now trending higher. I see the potential for a huge run. Just curious why you are no longer in if that is the case. TIA.
Steve
I see a low float stock with potentially 2 profitable subsidiarys trading at sub penny level. I see a company seeking 3rd party certification for homeland security contracts.
From a technical stand point. I sse a stck that has built a base and recently brokeout above resistance. Now that is has broken above resistance(on extremely high volume i may add) it has since tested support and held. It should continue to move up now.
Looks like tommorrow is the next leg up!
It will be interesting to see what happens at the close. A close at .0035 with news after the bell or tommorrow morning would send this into orbit. A frther sell off will mean a failed rally but a buying opportunity none the less.
Just what i expected. A pull back to support(the old resistance level). I missed the low by .0002. I did not think it would go below .0033. As long as it closes above .0033 we remain in an uptrend with the next level of resistance at .014.
The skinny here for the newbies is
Mrmn bought a shell itfi and merged. Marmion air has been profitable every year except 2002. They are starting a Commercial construction co that will also be profitable 1st year. After the merger an S-8 was done for 50 mil common and 50 mil in options bringing the o/s to 143 mil and the float to about 93 mil. Being this a brand new company and is not widely followed the dumping of s-8 shares drove the price way down. Then they released their 10q. The 10q was confusing because it said they entered the explosion prrof heating and a/s field in the second quarter but showed revs of $.0.0. It has now been confirmed that the revenues do exist and the reason it was left out was because an audit has to be completed when a merger is involved before revs can be included.
To make a long story short. This is a sub penny with potentially 2 profitable subsidiarys with only 93 mil in the float plus they are seeking 3rd party certification for homeland security contracts. Wayy undervalued.
Next 10q will include marmion air revs whicha re increasing dramatically.
full blown rally
Looking good. EOM
I also just spoke to ir
Excel you da man. Jerry wasnt there but i spoke to James who is not as familiar as Jerry but did confirm to me that Marmion Air Revs were not included in 10Q but will be in the next one. This could be an outstanding 90 days. He said Jerry was working on finding out whether or not a pr would be issued or a 10Q/A but he "James" did not know if Jerry has found out yet.
The bad news is expenses probably were not included either. But if they were profitable before and they are experiencing record revs now they are probably profitable from Marmion AIr now. The expenses on the 10Q were likely attributable to ITFI and possibly will not be on the next 10Q. I am hoping.
Over the next 90 days.
Possible pr explaining what 10Q would have looked like with Marmion Air income included.
Aug sep oct rev pr's.
Possible news on the Commercial construction co they have previously stated would be profitable 1st year.
Probable news on 3rd party certification for the Homeland security issue.
I feel a whole lot better about this now.
excel
thanks also for the picture of the columbia river. Simply awesome.
The poem you wrote on the ez tradin board was truly insperational and easy to relate to for anyone who ahs lost someone close to them. (which is virtually everyone)
Thanks again.
Thanks excel
Did you find out anything else?
What the numbers look like etc.
This could be great news and what i was hoping for all along.
What i dont understand is why no pr explaining 10Q was incomplete and corrected numbers would be released after audit. or why the 10Q simply didnt state revenues not included until completion of audit.
I saw your post on raging bull also. It made my day. I hope you are trustworthy. I dont mean that as an attack on you but i dont know you from Adam.
Jim
Thats interesting. I dont know what nite is doing. There was a time when i felt the mm's were trying to hold the price down. After the release of the 10q i think there is just no interest here. I am not surprised the bid isnt being raised. The trading range is being constricted and noone wants to buy at the top of the range. This will break one way or another eventually. Some news would be nice. We will probably see an aug revs pr at some point.
http://stockcharts.com/def/servlet/SC.web?c=MRMN,uu[m,a]daclyyay[da][pb50!b20][vc60][iUb14!Lo14]&...
Speaking of no interest.
Volume today = 0.
At least no one is selling so far.
Excel
The last sale on friday was 5,000 shares at .0029 or else the close would have been .0033 and the candlestick chart wouldnt look like sellers won the battle.
Not too long ago, if flcr would have left the ask this would have moved on heavy volume. Now flcr moves from the ask and only 7 mil trades.
Still waiting on answers about the 10Q. It's not a good sign when co and its representatives refuse to answer questions. IMO.
This doesnt appear to be what i thought it was when i first did my research.
At this price the fact that it could be a scam is already factored in. IMO. But then again if more shares are dumped on the open market. Who knows how low it could go.
A little news could go a long way towards price appreciation. IMO.