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Just for the record, the FDA didn't "crush MZEI" like a cockroach, or otherwise.
Shannon was in the process of doing testing for the FDA, he met with the FDA people in DC and was well-received.
It was mismanagement at the top that crushed MZEI. Once the matter fell into the hands of the bankruptcy court system, it was a dead end.
You are right that there doesn't seem to be any way to bring anything back to life, as far as the previous public company is concerned.
Probably the birdie saw it on the RELI filings site:
https://www.otcmarkets.com/stock/RELI/disclosure
The most recent posting is
"Notification of Late Filing - RELI Q1 Notification of Late Filing", and indeed it refers to the end of June, '20.
(BTW, on March 26 they filed for a late filing for the 10K that was due at the end of March, and they were given 2 more weeks, until May 14. Turns out that the filings came a week earlier, on May 7. So the fact that they have until the end of June doesn't necessarily mean that it won't happen sooner.)
Of course, there is no indication that this will include the anticipated real estate information, but it certainly is a possibility, and I personally expect to see that.
Quite a nasty characterization.
Nothing that I will say will change your predilections, so let's leave it at that.
(By the way, your ethnic lingo isn't cutting it. It just makes you sound like a shle'miel who's trying to be either patronizing or condescending, or just cute.)
You are much more effective when you talk about the market and investments, where your experience and knowledge are evident.
Just my feelings, nothing personal.
"Dd is key"
Are you kidding??? If you had done any DD you'd realize that there is nothing left here, absolutely not a fraction of a cent of real value.
Can a gambler make a few bucks? Sure, if you're lucky with your timing. But at least be honest about it and don't suck in unsuspecting suckers by claiming that your grandiose predictions are based on DD.
Or, like someone did yesterday, by telling everybody that you just had lunch with your buddy, the CEO. How pathetic that line was.
Seems that the only thing more contagious than the coronavirus is the stupidity that roams around these boards.
There is no way in the world that this ticker will gain any value from whatever is happening in China. MZEI has no structure whatsoever, no machines, no capacity to make any.
The stock jumped on a combination of hysteria and ignorance, nothing more, but that won't last much longer. Those who had the intestinal fortitude to roll the dice did well, but it was never anything more than a pure momentum play, a crapshoot.
The only feasible way that the AsepticSure system willl be used to eradicate coronavirus is if some private entity buys the patents and forms a new private entity. There was talk of that soon after the bankruptcy was filed, but as far as I know, that's history.
That's true. The patents are owned by Medizone, which is a PRIVATE COMPANY.
It is a tragedy that the public company MZEI was destroyed by the bankruptcy fiasco, but there is not a fraction of a penny of shareholder value left over. That's the sad reality.
In case anyone is interested, the company that our ex-CEO David Dodd went to after the MZEI debacle, GeoVax, just put out what IMO is an impressive PR. It's all potential, nothing happened yet, but they seem to be focused.
https://geovax.reportablenews.com/pr/leveraging-geovax-s-vaccine-expertise-to-take-on-cancer
On the other hand, the share price is a joke - closed at .0175 today, after falling quickly from a post-RS price of about 4 bucks.
As with so much else in OTC-land, it's a very mixed bag.
02, I hope you are aware that Medizone Int. no longer exists.
That's really pathetic. Besides the info about the system itself, there's nothing true in that whole release.
Just demonstrates how these penny stock "reporters" abuse the trust of their readers. Talk about fake news!
Regards-
You think that post was bad... look at this one from Sunday.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=150453303
It certainly does look like a familiar pattern. Wonder what Boca will have to say now.
Regards-
I assume you mean "a .0003 cent spread".
We'll never see a "3 cent spread" again, at least not here. Regards-
Extremely bizarre indeed.
But nothing will change the reality that, as a public company, it is stone-cold dead.
All this demonstrates is that the OTC world is completely untethered from that reality.
Hi f7. I don't like the word "karma" in this context. because it conveys a sense of inevitability, as if it was destined that Medizone should fail.
This was anything but inevitable. It took reckless behavior to make that happen.
fcm, you are correct that I wasn't aware that Dodd was a founding director of GVOX, and only became CEO after the MZEI debacle. I didn't know that. But that fact is totally irrelevant to the lament of that shareholder on the GVOX message board.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=148713620
If you read my post carefully, you'll see that I was careful not to accuse Dodd of messing up either MZEI or GVOX. I am really not sure what to make of our own story, as far as Dodd is concerned, and it really doesn't matter.
My point only was that it doesn't look like GVOX is turning out so well, and those shareholders are not happy campers. And it doesn't look like the NYC conference exactly lit a fire under the GVOX stock price.
As far as describing our MZEI experience as "scamming", both you and teq are wrong, IMO.
The Marshalls destroyed Medizone through an extremely destructive and misguided legal maneuver, not by lying about the potential of the technology.
It still remains to be seen if AsepticSure will survive and save lives through private investors. That process is ongoing, and its outcome is unsure, as far as I know, but several investors have expressed serious interest, because the technology works. That was not a scam.
That won't reverse the clock for us and bring MZEI back to life. The bankruptcy malfeasance took care of that, and there ain't no reset button.
"I had invested in the Promise of the science.
What I should have paid attention to was the absolute horror of the business acumen..."
A pretty familiar theme to all of us, right?
What's interesting is that the above was posted last week on the message board of a different company. This company was trading in the very low pennies, and management did a 500 to 1 reverse split, hoping to get listed on the NASDAQ.
Since then, the stock has gone down steadily, and unless something changes, it will probably end up back in the pennies, and go bankrupt. It will then end up as a private entity, or just disappear.
What's noteworthy for us in that the CEO of that company is... David Dodd. This was his next move after Medizone.
I'm not rushing to judgment. On the one hand, Dodd was awarded a handsome settlement from the legal battles that preceded his stint at Medizone, so apparently those allegations proved innacurate. On the other hand, his efforts since then haven't exactly come up roses. A very cloudy picture.
I hope you're wrong, but I'm afraid you're right.
The only way that this can possibly work is if Dodd has been waiting to announce some major news to keep the price up.
Otherwise, it will soon be back down in the pennies, and the next step is bankruptcy and privatization. And guess who ends up owning the company?
You're right, Zeppo, in retrospect that should have been a gamechanger. But it wasn't so simple -
From what I learned, the CEO of Belleville didn't allow further testing or promotion of AS because it would have constituted a conflict of interest for Dr. Zoutman, who was a Department Head there.
Besides that, the goal always was the US market, so finding ways to push for more exposure in Canada may have seemed to be an unnecessary distraction.
Then came the interminable delays in the EPA process, to be followed by the FDA'a reversal of its position.
By that time I can imagine that they looked back in remorse that the Belleville success hadn't been exploited more.
Just one of many, many, "what-ifs" and strategic blunders that led us to where we are today: engaging in our own "what-ifs" and remorse.
No one (as far as I know) was aware of his selling out. And he sold way before the whole bankruptcy fiasco, for his own reasons, not because he gave up hope for the technology. I think the share price was around a dime when he sold.
He was going through a financial crisis involving his own company, that had nothing at all to do with Medizone.
I only found out about this after Marshall filed for bankruptcy, and I called this investor asking what the heck is going on. That's when he told me that he was no longer involved with Ed, and had sold off months before.
I find it fascinating that the initials of AsepticSure Scientific are...
ASS.
That scenario is hard to imagine, but maybe you're right.
Even flipping is hard to grasp. Is it worth buying 1 million shares at .0002 for $200, to hopefully sell at .0004 and make 200 bucks??? Not worth the effort.
This whole situation is a puzzle.
"Company was destroyed because you put your faith in a known boob, Marshall."
I'm really flattered that you consider mo so powerful, that my supposed faith in Marshall brought down Medizone. I'll have to tell my wife that she should take me more seriously.
More accurately, if the Florida "group" of investors had encouraged Ed to step down out a few years ago, that may have made a difference. I expressed my opinion to the main player in the "group" that they should do that, and he did not agree at the time.
As I have communicated with you a while back in an e-mail, I begged Ed to step aside six years ago. He didn't want to, since at that point he felt that things were looking positive. The rest is history.
So much for my supposed control over events.
How about you let this go already....
If there's any consolation in this sorry saga, it may be that none of your rantings contributed to the demise of MZEI. The company literally destroyed itself through gross misconduct.
The proof may still come, if a private company can somehow emerge from the ruins and bring the technology to good use.
Having the last laugh on good ol' Tane will at least provide a little comfort.
You're 100% right. It's the most major transition imaginable - for shareholders, executives/employees, everybody - except, apparently, for the SEC. It is really weird.
One interesting tidbit has emerged from this tragic story. Not enough people follow this thread...
Anyone who saw the crazy drama of how MZEI crashed, as documented through the message board, would never throw away another penny into the stock.
So the millions of shares that have been traded since the official demise of Medizone can only have involved traders who don't read what's going on here.
You're right (as usual) lady go. The stock is meaningless, the tech may still have a future, within a private entity. Time will tell.
Regards-
Hi go, it's been a while!
I'm sure you know whose website that is, right?
You may be right. Or not, I really don't know.
But personally, I'm glad that there still are a few people on the planet who haven't given up yet.
There is always resistance to change the "normal" way of doing things, and it takes persistance to overcome it, and that persistance can only be fueled by passion.
Is the reluctance to change a factor here, or is the system just not good enough?
I hope that the Marshalls can convince some investor(s) to give it a shot.
On another note, how can this stock still be trading publicly??? Isn't the public entity called Medizone no longer in existence??
It is indeed surprising that Dodd and Esposito passed on the bid. I can only figure that they decided to cut their losses, rather than gamble on summoning enough support to finish the FDA process, and try to commercialize.
Bottom line? Marshall gave away twenty years of his life, with blood, sweat and tears, to get the tech through the EPA, then got slammed unexpectedly with the FDA challenge.
Could he have handled things in a more efficient way, and gotten to the same point faster? Very possibly.
But the one area in which he wasn't deficient was his passion to bring AS to the healthcare sector and save lives.
I just don't think that Dodd and Esposito have the same passion, and this translated into a much more cautious approach to the uncertainties of a bankruptcy situation.
From a pure business perspective, maybe they're right. But there are times when passion overcomes the more "sensible" approach.
For our sake, I hope that this will be one of those times.
Technically - and I'm saying this without any facts about Ed's backing, or lack of same - he may not even have a backer yet! He has to come up with $500K with enough time to finalize by Aug. 31, but I don't think he even had to put up $100K last Thursday, since he was the stalking horse bidder.
The only cash he had to lay out was the $200K to keep the lab running, and protect the patents. But that's really a loan, and will be coming back, if he manages to get the $500K.
Ed must be figuring/hoping that since under the Ch. 7 liquidation, not a
Ch.11, the creditors are basically history. So an investor might be more willing to step forward and finance the ongoing testing till FDA approval. The value will be multiples of what it was even before the BK craziness.
What a bizarre story....
"I wouldn't be surprised if they thought Ed had lined up the kind of backers who could outbid whatever they were willing to put into it."
I honestly don't think so... It's not like Ed had such stellar success in raising funds for the past twenty years!
He held it together on PPLs, while Dodd and Esposito had so much more experience in the higher echelons of the corporate world, and contacts in financial circles.
Which of the teams: Ed and Shannon; or Dodd and Esposito, would you have bet on to win the bidding?
(By the way, I don't know why some in this forum assume that Shannon is a wealthy man. He is far from that, and, as you pointed out recently, business is not his area of expertise.
There's no way that he could come up with a lot of cash on his own, and as I said, potential investors from the past who may respect Shannon's work, were not ready to commit any serious money.)
Attempts were made by several people, on several continents, to put together enough funds to see us through the FDA testing, and extend the bidding process.
The stench which was created by this whole affair made everybody leary of putting in more money.
As teq said, this isn't relevant anymore. What remains to be seen is if Ed can get funding for a new entity, and if that entity will acknowledge a place for shareholders.
IMO, it's striking that previous management didn't even try to outbid Marshall. They could have had the whole kit and kaboodle - which up until a few months ago they claimed had a lot of potential - for $600K.
Right or wrong, this process has proven one thing: Marshall believes in AS more than Esposito and Dodd.
Is he right about that? We shall see soon enough.
The business debacle of MZEI completely overshadowed the science.
Maybe somebody who knows what he's doing will get involved and move it ahead.
Understood. Thanks!
Thanks, teq, for the information.
"...or if the new owner decides to gift or sell them a portion of the company."
Sounds like a fairy tale, but who knows?
Manti, what would be the mechanism through which that would happen? Would a formal contract of ownership on a certain percentage of a new entity then be pro-rated to give each shareholder a stake? How would they do this?
Thanks-
I hope that whoever ends up with the technology will be successful in promoting it, because the need for it is only growing.
https://www.npr.org/sections/goatsandsoda/2018/08/02/635017716/some-bacteria-are-becoming-more-tolerant-of-hand-sanitizers-study-finds
Thank you ferrot for your balanced and accurate presentation of the present realities.
To your closing line,
"The only things he will hear are things like "Add me to the list of Chapter 7 bidders," or "I have enough money to put the company back on its feet, so let's put it back into Chapter 11." "
I would add one more thing: or "I have $200K to fund Shannon's lab work until the FDA work is complete, so I request an extension of the sale date of four additional months to maximize company value before a Ch. 7 auction or a Ch. 11 reorganization."