Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
What's with all of the action on this board? Isn't this dead?
Ed said 3 things would happen this week. 1) Re-Filing of Form 10 2) Release of APP and 3) Africa customer to start testing.
I'm putting the over/under at .5 meaning that based on his track record there's just as good a chance as 0 of these happening as any one or more of them.
What's your bet?
If the company that makes the statement has a track record of success then I would agree with you.
I don't disagree with you and I'm not bashing or dumping but only expressing my opinion.
The P&D that happened last year set unrealistic expectations and put the company in a bad spot in terms of market valuation. But I guess I expected more. This wasn't some small start up but rather a company that has been around for awhile (I first posted on this company several years ago).
Most established companies have maybe 3 or 4 strategic initiatives they try to attain each year and they are lucky if they knock out 2 of those. These guys had at least 5 that I can recall.
Rather than taking more of an even keel approach I think the share price fed their egos. Then the missed deadlines started happening, GreenPay was going to be the golden ticket, then pulling form 10, submitting again then pulling it again, etc. It spiraled out of control.
I had thought that the Africa deal was supposed to be announced weeks ago so is this the next initiative to fade away or are they really going to execute this time.
It's all about credibility and there is now little left. It is starting over in a lot of respects.
What possible reason is there for this to be more than a quick flip?
Apps were supposed to be released last year!! What has this company actually accomplished in the last year?
Form 10: promised and failed
GreenPay: where is this even at any more?
Seergate acquisition: could be good but this company hasn't been able to execute on anything else so why would this be any different.
Africa: when you hear "things are delayed because the deal is bigger" that's a sell signal. Anyone that's been part of getting a product to market knows that when things go sideways (and they usually do) you don't make things bigger you try to make them smaller and more focused.
Ed has no credibility left and it's going to take a lot to get it back.
Do we break a penny today? My bid is at .0095.
The bad news should be out soon. My guess is another delay of something that will lead to a conference call or facebook QA session where more promises of dates will be made which will ultimately not be met.
The good news is the promises will push the price up so I think getting in around .012 is about right.
However if the bad news is more than just another delay then this thing will sink fast.
Did anyone notice in the last conference call how MYEC went from promising "bragging revenues" in 2015 to being a development stage company not focused on revenues?
I believe the technical analysts would call this a falling knife pattern.. lol!
Very little support for this right now. Someone knows something bad is coming and I'm not a big conspiracy theory fan so I don't buy the manipulation story.
I'm in the same spot I think. I hold a lot of shares (for me it's a lot) and it there have been a long list of disappointments over the last year. Can anyone name 1 thing that they actually executed on as they said they would?
Last time Ed spoke (or was it FaceBook?) he said how more things were happening and that announcements were going to come in the next few days. That was about 3 weeks ago and what's happened since? Silence.. nothing.
I don't believe it's a scam but it's my opinion that they just can't execute and this opinion was established long before the Seergate acquisition. Although by buying Seergate it certainly was a big red flag that they came to realize they couldn't get it done on their own.
Who knows what's going on right now?
Volume has been low lately and that's probably a good thing.
All they need to do is get 1 thing right and we could finally get some momentum.
Must be more bad news coming.....
Looks like we're going down lower. Is it a delay in apps or something else?
Was the Africa deal closed? Maybe that went sideways...
I don't believe this is a scam, I think they're simply incompetent.
Anyone want to bet that the current downward pressure on the price is a precursor to another delay?
When the price is dropping like this day after day it usually means someone knows something. It's either another delay or something else going sideways we'll probably know more next week.
Until the company can prove it can execute it's just another pink sheet stock.
What is 1 thing the company said it would do that it's actually completed on time?
That's what I thought. Maybe someone is setting up a pump & dump.
I see there's been a few trades lately. Are these guys still in business?
Here's a fun fact! I'm not sure if this has been posted yet or not but the company just reduced the float by about 13% and that had very little impact on the price. Sure the price went up a bit but not the 13% one would have assumed.
What might this mean? I think this means that the share price has already factored into it that all fraudulent shares will be eventually be cancelled. Sure we may get another bump but even if all fraudulent shares were cancelled tomorrow the best we might get is a sustained 5% -> 8% bump.
In order to get significant share price appreciation the company needs to demonstrate it can execute and create a revenue generating engine. They have the patent, the have made the sales (or at least hooked the customers) but they have yet to demonstrate they can get customers up and running in scalable manner.
They can have the Form 10 filed and all the goodwill in the world but until they can demonstrate they can execute this stock will not go anywhere. There's no bomb for Ed to drop. Just pure, simple execution.
The shareholder call scheduled for after the release of the financials can't be a good sign. I think the news is bad and this will be a "calm the waters" call. For those with a high risk profile that will likely be the time to buy.
All imho of course.
Thanks!
When I type a symbol in Level 2 it just says "invalid symbol". For example, if I enter MSFT the tab displays N^MSFT and below it says "Invalid Symbol"
Is it just my computer or is it a general problem.
This was working this morning
I read all that and it sounds great.
Who is currently using it other than what MYEC is doing with it?
How bullet proof is it? How many customers/transaction have been processed with it?
AND .. the new CEO of GreenPay (a B2C business)is someone who came to us via an acquisition (that hasn't closed yet) of a company that had ZERO customers.
What could possibly go wrong?
I completely agree.
From what I see, they had too much on the go. They need to execute at 1 thing and get it right then move onto the next. Form 10, apps, backend processing, and I'm sure I'm missing some others. That's a lot for a small company to do.
Apple was nearly dead once too but they focused on 1 thing - an iPod - and it changed everything.
Let's do 1 thing that results in revenues and then tackle everything else. Up-listing and all the Form 10 stuff is nice to have but if it takes 5 minutes away from executing on revenue generation than it's not necessary.
Integrating 2 companies after an acquisition isn't easy either. Company cultures have to mesh as well as the technology. I hope the next news release doesn't have something to do with that deal falling apart or we are back below .01
There's lots of potential with MYEC but there's a lack of execution that needs to be addressed.
Just my opinion
I missed where it said their revenues were currently $3M or more.
What I read was that it was going to take 6 weeks to get the integration complete. Maybe they do it right and it works out great in the long run but acquisitions and integrating one company into another has significant risk.
My take is they needed to do something because they couldn't execute and for some reason rather than partner with them or license their technology they went the acquisition route.
If they couldn't execute on getting a product out the door how can we expect them to be able to execute on integrating 2 companies? It's fine to dream big but why not set out a series of attainable milestones to show people you can actually get something done?
Acquisitions are either neutral, accretive or dilutive. Unless Seergate's revenues are $3M or more this acquisition is dilutive.
It's math.
No company ever says they are absolutely, 100% going to buy another company. It's always "intent" until due diligence is complete.
However, now we've got myec - a company that can't execute - trying to integrate another company that looks like maybe they can. Acquisitions are never pretty and this is especially complicated by the fact the it looks like myec couldn't get the job done.
If I'm on the technical team for Seergate do I really want to work for these guys?
What I read in this PR is - We can't get it done so we need to buy someone who can. Oh and by the way, the acquisition is dilutive.
The company can't execute
See ya at .012
Based on the number of shares on the ask I would expect there's news coming and it's not that good. Maybe another delay.
Hopefully I'm wrong.
PennyStalker is buying everyone tequila shots? :)
I think you might be right! This is really encouraging.
Something seems to be in the works. Either it's real or just someone trying to tee up a pump and dump. Either way it's good to see some kind of action.
Yup. Agreed.
Wow! Some trades.
My posts go back to 2010 on this stock and I am long on this stock. I am not flipping and not bashing but these missed deadlines are a bigger deal that what Ed indicated at the AGM (I wasn't there but I saw the videos). He said he uses them to motivate and hit deadlines and that's all good. But it's a different story when you put it out publically.
I'm not questioning anyone's integrity and I'm not anti-Ed in fact I'm very pro MYEC. Quite simply a lot of the share price is going to be based on the management team's ability to execute and when they continually throw down dates to the public and miss them it is a problem.
They said Thursday and it still is Thursday so it's technically not late so I don't want to jump the gun.
I completely agree. .035 is where I see the first support level and I'm actually a little surprised the lack of a Form 10 today didn't give the short sellers more ammo create doubt and test that support already.
It's also good to consolidate here and let things cool off before next run up. The price has more than doubled since the app delay announcement less than a month ago so we've done well.
JMHO
Wow... have a nice day!
Oh I'm very confident in the company and the product. I completely agree with you.
I hate to see the shorts make money on this.....
Just relax - I wasn't calling into question your integrity nor was I suggesting the sky is falling. All I'm saying if you don't know a date don't speculate on one because it sets an expectation.
If you have a task to do and you tell everyone its going to take a day but it takes a week then you're a goat and "people" might construe that as a lack of integrity if you do it over and over again. If you tell everyone you will get this same task done in 2 weeks but get it done in a week then you're a hero.
I'm hoping the reason behind todays news is because they realize they are shooting themselves in the foot.
Great news! Hopefully they realize they have had a problem with outbound communication and this fixes it!
The market rewards and the market can also punish. When will this management team learn not to set expectations it can't meet? When you say something is going to happen by Friday and Friday comes and goes with no further update and then Monday comes and goes with no update it opens the door wide open to shorters and plays right into their hands.
Had they said "the Form 10 is now under legal review and we will update everyone when the review is complete" or simply "the Form 10 is now under legal review" it would have been a positive statement (yay!!). But noooooo.... they had to say it would be completed by last Friday. So now FUD has entered the room.
I'm long and not selling a single share. I believe in the product but I have to be honest and say the management team hasn't done a lot lately to inspire integrity.
At the AGM I hope someone please tells them to temper their enthusiasm when giving formal press releases and stop saying stupid shit. The rest will take care of itself.
Looks like a pure consolidation day. The bulls won't let it go much less than .022 and the bears won't let it go much more than .0233 at least so far.
Agreed! Numbers 2 (audited financials) and 6 (share structure) are huge. The technology will take care of the rest I think.