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I have that same opinion! He was a HUGE rat IMO and although I'm glad to see he is gone I am curious if we see this go to 1 in short order (IE sinking ship)?
Well Liebs does have a lot of negative connections so he could very possibly have the HUGE knowledge base of those negative connections to help aid in the possible future direction if he so chooses.
This is one of the best moves that has been made with MMTE. It would be interesting to know if this was Brian leaving on his own or Liebs getting tired of him. Obviously Liebs is not going to comment on this.
So how did this turn out? Doesn't seem like this came when expected and things were delayed somewhat.
I stop by from time to time just to see how long it takes for the Samuel Coal deals to be delayed and ultimately cancelled.
I think there are more and more people that are seeing the truth about GLER and how it is the same thing time and time again.
Very interesting how I argued about how this deal made no sense and now that is becoming more and more apparent.
I've kept an eye out for EMXC for some time now and am seeing it retracing to its lower levels (before the share buyback was supposed to happen).
We touched trips today which at one point was fully discounted as "will never happen again" but yet today was it.
Is this another buying opportunity or will it fully retrace to 3/4/5?
If nothing else I will say that MMTE and Liebs has reinforced a very valuable lesson:
PINKS ARE NOT MEANT TO BE HELD!!!!
PINKS ARE FOR FLIPPING!!!
You bring up a very valid point and it is something I have considered for quite some time.
Yes there are rules/regulations to prevent these things; however, we are dealing with Pinks where 99.9% of all CEOs and Management are crooks and con-men. Some manage to get busted others continue on - it all depends on how smart they are.
If a CEO has a significant history with con-men and has the benefit of past knowledge it is possible that the CEO can get away with just about anything...it just depends on how it happens.
Well I'm not really surprise but I did HOPE for something different. I was ready to start flipping this POS but that didn't even turn out well.
So rather than continue to hope and maintain the 'emotional attachment' I would prefer to hold on to my money
At some point in the future I may buy MMTE to play but for now there are far better plays and not to mention I'm getting out now while I still can and this POS doesn't get restricted even further.
Then what would you offer to buy my shares at? I am ready to get out of this POS!
It is sad that MMTE has went from what it was to this measly crap! As previously stated by RvR - emotional attachments and stocks do not bode well when combined.
If MMTE were a private company this would be completely acceptable; however, that is NOT the case!
MMTE is a public company - and each and every shareholder has a vested interest in the company. MMTE is apparently using the excuse that Limitada is a separate company.
Fortunately I can say that Etrade has not enacted a policy on MMTE...yet. I purchased a few more shares at the end of last week at 8 and 9. Fidelity has not had any problems yet either.
So as of right now I can say that Etrade, Fidelity and Schwab are all freely trading MMTE.
That is exactly correct - we all know where MMTE MUST go in order to continue. The only question is whether or not it will happen.
This one single item will indicate whether MMTE is legit or not. Everything else is purely speculation and opinion regardless of what William and Brian have stated and written in PRs. The truth lies in the resolution of the DTC issue!
The Future of MMTE Explained - IF Nothing Changes
Since Liebs and Company have neglected to address the issues at hand in regards to DTC Eligibility the following article explains very clearly what will end up happening with MMTE and other such companies that choose NOT to live up to the standards set forth by DTC.
So the ONLY options available to MMTE are:
1) Uplist and become fully reporting (which also means more transparency)
2) Merge into another company that is on a more mature exchange!
Micro Cap Stock Crisis and What You Can to Avoid it
by TomAllinder on July 17, 2011
Over the last few weeks a lot has happened in the micro cap world. Probably the biggest thing is the fact that one of the largest clearing houses, Penson Financial Services, will no longer clear stocks under a dime.
A few weeks ago, Penson put in place a new policy that essentially paralyzed all stock deposits, clearing and what have you for sub dime stocks. This new policy is across the board meaning no certs, no DWAC, DRS, ACAT or any other method for any stock under a dime.
Obviously this does not affect companies that clear elsewhere… yet. Rumor has it that other big houses will follow suit.
There are two big impacts of this policy…
The first is self explanatory and we have already covered it; no more stocks of any kind under a dime through Penson. The second however is that many of the bigger online trading firms clear through Penson. This means that if a trader or investor who uses one of the big online brokers and they clear through Penson, that trader or investor cannot purchase shares of any stock trading under a dime.
How to get around this?
For the big online trading firms, if they expect to keep all those commissions they earn on the numerous daily trades on the thousands of Pinks and OTCBBs that are under a dime, they are going to have to clear these elsewhere. This may or may not happen and if it does, it will take a while. The only way to buy and sell stocks under a dime is through smaller firms and full service firms. Being that most of the action on these low priced stocks are by traders and especially day traders, that will not work well. Day trading and having to use a phone is like asking a neurosurgeon to do a delicate procedure wearing welding goggles and gloves.
I have spoken to individuals at many of the big Financial firms in NYC over the last several weeks. They are already moving to smaller clearing firms or setting up their own clearing in-house. It might surprise many to know how many big financial firms in the Big Apple deal with small stocks. There is too much money to be made to let the sub dime stocks fall by the wayside.
There is a caveat however… and here is the biggest point I will make in this article:
They will only take stock of companies that are FULLY REPORTING and DTC eligible. They do not care what the price is as long as the company is fully reporting.
In other words, there is a big weeding out underway right now.
Speaking of DTC eligible, those companies that have lost DTC eligibility are going to get weeded out too. Why?
Stocks that are not DTC eligible run a strong risk of having trading of their stock suspended by trading firms because of the expensive administrative nightmare it causes. What makes this even more painful is if the stock suddenly gets good volume. That volume will dry up as trading firms suspend trading in that security.
When a stock is not DTC eligible, all the week’s trades have to be settled through PAPER CERTIFICATES; it is expensive and time consuming and most trading firms do not have adequate resources to handle this especially on high volume stocks. To compound the problem, the traders of that stock receive an unpleasant statement the following month because the costs of the administration of non-DTC eligible stocks are passed on to the people who bought and sold the security. This can amount to several hundred dollars for each trader/investor.
If a stock is DTC eligible all transactions are handled automatically and electronically.
More on DTC eligibility…
One of the best ways to lose DTC eligibility is to register stock in any other form than an S-1. Many Pink Sheet and OTCBB companies are still doing things like 504s which is severely frowned upon by the DTC.
Many companies that have done a reverse split over the last year or so have had their stock “chilled” (non-DTC eligible) by the DTC. The reason they are getting chilled is because right after the reverse split takes place, the company registers more shares (usually through a 504) for sale. This pisses the DTC off and they chill the stock and no matter how many resources the affected company throws at the DTC, they continue to be chilled and the DTC becomes less responsive.
So the conclusion I have drawn is simple:
If you want the stock of your company to keep trading, become a fully reporting company and register new stock the way the DTC wants it done.
While these issues have caused much grief lately, I think for the marketplace overall it is going to be of great benefit to both the surviving companies, investors and traders.
We all know that many if not most of the Pink Sheet and some OTCBB companies out there are nothing more than ATM machines for the management team and their “investors”. Those companies that have no money and no business will be left in “no man’s land”. Those companies that do clean up their act and become transparent will stand a much better chance of succeeding in business and in the marketplace. The pool of investors and traders will remain the same or grow while the companies to select from will be far fewer in number.
There will always be sub dime and sub penny stocks to trade and invest in, there will just be fewer and the companies will be more transparent.
I have had non-compete agreements in the past and they have a term limit of generally one to two years.
As far as I'm aware there has not been any official updates. There has not been anything posted on Justia or PACER as of earlier today.
Since I think this is a good play I have recently purchased more shares at 8 and 9. I also have a pending order at 7 and another at 6 just in case it goes that low.
I currently hold MMTE with both Etrade and Fidelity - I transferred my account out of Zecco when this same issue happened a few months back. So from that point of view MMTE has not changed it's status since May 2010 (this is now coming from several sources, not just MMTE).
I have a few opinions regarding why this is happening but am curious to hear what MMTE puts out.
One thing to keep in mind is Penson's earlier policy was that they would trade but it was with astronomical fees associated with it! Recently Penson changed their policy but the one aspect that took several by surprise is with Ameritrade.
I recall several comments early on about it is just Zecco, that was disproven. Then it went to just Penson. Now we are looking at Penson restricting all pennies and Ameritrade restricting MMTE.
William also knows MMTE is on the list - this was established when Penson first started their huge fees for buying/selling MMTE.
The interesting part that I"m reading is that Ameritrade is refusing buys but approving sells.
I am curious how this can be a fluff PR? I certainly question the future of MMTE and my postings reveal my opinion; however, I will admit that the addition of Colson to the non-executive board of directors seems to be an excellent addition. Unlike many others he does not appear to have any con-men connections.
Mr. Colson served as the Chief Executive Officer and President of Lithium One Inc. from August 29, 2007 to July 2008.
Regardless he has a terrific resume. Also keep in mind that he current sits on the Board for Lithium One:
2007-Present
Director and Member of Audit Committee
Lithium One Inc.
This is information that can be used to make money regardless of your stance on a particular company.
Based on their track record with MMTE they have been spot on with almost every single call they have made to date!
For the most part they really do. Did you notice the huge gap between sell on 23 May and buy on 1 August? They are one of the better sites that I have seen and do a decent job of explaining their analysis.
AmericanBulls Lists MMTE as a SELL
As indicated below I think their recommendations carry a fair amount of significance.
08.24.11 0.0011 Sell 11,162
08.19.11 0.0009 Buy 9,151
08.04.11 0.0011 Sell 9,151
08.01.11 0.0011 Buy 9,169
05.23.11 0.0023 Sell 9,169
05.18.11 0.0016 Buy 6,391
04.29.11 0.0027 Sell 6,391
04.19.11 0.0030 Buy 7,116
04.14.11 0.0034 Sell 7,116
04.11.11 0.0034 Buy 7,130
04.07.11 0.0034 Sell 7,130
04.04.11 0.0033 Buy 6,934
03.31.11 0.0032 Sell 6,934
03.28.11 0.0027 Buy 5,862
03.18.11 0.0027 Sell 5,862
03.15.11 0.0026 Buy 5,657
03.07.11 0.0030 Sell 5,657
03.03.11 0.0030 Buy 5,668
03.01.11 0.0032 Sell 5,668
02.23.11 0.0022 Buy 3,904
02.03.11 0.0014 Sell 3,904
02.01.11 0.0014 Buy 3,912
01.28.11 0.0016 Sell 3,912
09.22.10 0.0003 Buy 735
09.01.10 0.0005 Sell 735
08.10.10 0.0005 Buy 737
07.14.10 0.0012 Sell 737
07.07.10 0.0011 Buy 676
06.22.10 0.0007 Sell 676
05.28.10 0.0006 Buy 581
02.24.10 0.0005 Sell 581
11.20.09 0.0003 Buy 349
10.21.09 0.0007 Sell 349
08.20.09 0.0002 Buy 100
It is certainly possible they will be served prior to 1 September.
The suit has been there all along so it is something real. I don't think it could really impact PPS much more than where it already sits. We have already dropped to 7 and have climbed back to 12.
It is nice to consider the lawsuit being dismissed and although it is a preliminary hearing I believe we will learn a lot more after 1 September. With Liebs stating they have not been served there are really 2 options at this point - either they will not be served because the Plaintiff's lawyer has not moved forward OR on 1 September the hearing will have the Plaintiff and no Defendant which means the Judge will reschedule until the Defendant can appear. IMO the Judge will not dismiss the case on 1 September if the Defendant is not there but stranger things have happened.
In terms of major player in lithium mining - I think only time will tell. Maybe we will see future mergers that could be beneficial. Again, only time will tell.
Wiffleball huh? I prefer adventure sports - rock climbing, rappelling, spelunking, sky diving, river rafting, etc.
That is 100% correct - Liebs stated MMTE has not been served.
There have been a lot of PRs regarding what MMTE currently has in terms of land concessions, etc. In terms of those concessions they are worth 10-30k per acre so $10k - 30k * 16,000 acres = $160 Million to $300 Million.
Regardless of current Chilean law MMTE can still mine and export other minerals which are very valuable.
Although there have been times I have went over the top in terms of stating my opinion and providing the facts I must say it is very important for everyone to really see the complete and open truth about MMTE.
This includes the lawsuit - whether it is valid or not.
This includes the con-men connections both past and present.
This includes the Chilean Subsidiary
This includes that MMTE PRs concessions from CLIL (Chilean Subsidiary) but does not provide any additional information regarding the company.
Whether this company is legit, whether Liebs is trying to build a legit company from a scam shell and whether any of the negative aspects have any impact on the PPS is up for debate. Regardless it should all be openly presented to allow current and future investors to decide for themselves.
Maybe this should just be played and not looked at as an investment - who knows. It will all become clear as time goes on. So the question still remains - is this one of the biggest scams out there or is this one of the best long term penny stock investments? There is a lot of documentation to back up either answer.
LOL...that is certainly a very true statement.
I just recall all the talk early on about the 'brick and mortar' store and how this is legit.
So what ever happened to the leadership here - is this another typical pinky or are they just not moving along with their plan?
You posted the following statement:
Please explain what you mean by your posting. The facts are in black and white on the justia and PACER websites.
http://dockets.justia.com/docket/new-york/nysdce/1:2011cv04813/381951/
This could be looked at from a positive or negative point of view.
Facts that cannot be argued according to Justia website:
1) Filing fees have been paid
2) Documents have been filed with the court
3) Preliminary date has been set
Now let's look at this with a positive outlook - the non-receipt could mean that the Plaintiff's lawyer has not hired a process server. It could mean that the process has not had success serving the paperwork on all of the parties named in the suit. The dream would be that the suit is a joke and the Plaintiff's dropped the suit.
Essentially I was correct - it can be hand delivered, delivered to someone else, or delivered/mailed.
Very interesting comment! In terms of being served it depends on the state and how they handle the serving of legal matters. Some require a hand delivered summons, others post it in newspapers and mail a letter (often certified).
To openly state that no pending legal matter is a bit much considering the documents are public.
DiiDii obviously I disagree with these statements and one day I hope the truth is revealed and I am wrong.
In regards to the con-men connections - yes it has been proven with Liebs and current connections with other companies he controls. There was a brief period where Overcash and Liebs communicated.
In terms of researching and cross-referencing I can promise you I have searched these names and many many others. I have even looked in depth to the other names that have popped up and check their associations. It is rather funny how some people continuously pop up when certain other people are involved!
In terms of these prices - the charts are looking better and will likely go up. I cannot say for certain if these prices will be seen again - WE never thought these would be seen again either and here they are.
Previously it was stated that it was an opinion and now it is stated "who cares". If you would like to have an open debate I would encourage that to happen; however, "who cares" is not a valid response.
In regards to the lawsuit - maybe it is, maybe it isn't. Again, the JUDGE is the ONLY individual that can decide that. Until that time it is purely speculation!
The PRs for any company are purely speculative and should be read as such. If additional information can be determined then it can legitimately sway that decision in that direction.
In regards to what I am doing here - I was caught with this before I looked through clear glasses and open eyes. I hope by some miracle things go north once again but until things are revealed I will not believe in the investment.
I hope for all involved that things go well here and they go north as so many have discussed.
I think you need to look into the facts just a bit more.
1) Brian/Liebs stated two different time frames for the release of the earlier financial statement. FACT
2) The PRs consistently have errors in them - some have had to be re-released due to the errors. FACT
3) Lieberman is surrounded (and has been surrounded) by con-men. FACT
4) The way the Izzy situation and lawsuit situation was handled is a significant concern. It's not so much that there is a lawsuit it is more the way it was handled by MMTE and that certain topics came to light as a result of the filings. FACT - LAWSUIT; OPINION - WAY IT WAS HANDLED
5) I am personally concerned that MMTE will comment on CLIL obtaining land concessions but will not comment on anything else such as financing or the records of filings for concessions. FACT I am not asking how much in regards to financing - I am asking how/where is the money coming from - READ!