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the only real support is down in the low 60s like we saw last year. without any news, PLM will continue losing a few cents a week until it gets down there.
I think it's less a conspiracy to drive the price down and more people putting their money elsewhere. I took my money out a few months ago when it was around $1.10 and I'll get back in down in the 60s. I'm guessing there are a fair amount of others doing the same thing.
for me, it's just simply a matter of not believing anything will be happening in the short term, so knowing the history of the stock the price will drop for the next few months. I can put the money to better use somewhere else, and just keep monitoring PLM in the meantime, then get back in when something is closer to happening. sure, I'm taking a chance of missing out on a big surprise jump, but I'm not optimistic here short term. Still view it as a long term play, but I don't need my money to sit here doing nothing for three, six, or more months.
yeah, this is heading back down to the 60s if it continues going without any new news. if nothing else at least PLM is fairly predictable. News pushes it over a dollar, then it slowly slides back into the 60s or 70s. Repeat.
outside of specific charts, PLM goes through a pretty regular cycle of going up a bunch when good news comes out, and then slowly bleeding back down. I guess the question here is how long does it bleed down for, and when does the next big good news come out? They seem to be close to the final approvals, but is it a month from now or a year?
While I'm not discounting any attempts at price manipulation, I'm sure there were a lot of people who were simply taking profits. There was plenty of loading down in the 60s and 70s, so when PLM got over $1 and now up to $1.20, there are a lot of people happy to take a quick 60-90% gain and call it a day.
I think the big question now is if PLM can hold above $1.10. If it does, then it would seem like it's got really solid support and ready to start climbing again come spring.
So what are the steps still needed before they can start digging? and with each of those steps, what abilities do the opponents have to stop or delay things? We keep hearing that some permit or another is in progress or approved or delayed...what are we looking at for final, official approval?
yeah, i've been passively following and hopping in and out of PLM for the last three or four years. will probably get back in again once it gets back into the low 60s. just was curious if there was anything in particular pushing this up this week as I hadn't seen any news.
so is this the typical news-bump that will eventually fall back into the .60s?
It's going to sit between 50 and 70 cents until some real, substantive news comes out about them moving forward with mining. occasional spikes with do-nothing news sure, but it'll keep coming back to the 60 cent mark shortly thereafter.
thats a different Microelectronics.
two years ago they had 3 low-powered bitcoin mining machines running. Since then, nothing. CEO took out a ton of debt against the company, paid himself with it via 'consulting fees' and then ran. Only reason MELY ever moves is because it's an easy pump and dump, due to it being related to bitcoins. Company hasn't been operational in well over a year now.
It's not a 'think' Brett took the money and ran. It's in the financial statements. Their last quarterly statement is here:
https://www.sec.gov/Archives/edgar/data/1329136/000159406215000129/form10q.htm#p1
Under the Consolidated Statement of Operations --> Expenses --> Consulting fees. In the previous nine months, MELY paid out $1.2M in consulting fees (with 976k of that in the first quarter of 2015).
The only consultant or employee working with MELY was Brett. Funny how right after he paid himself all the remaining money, he stopped responding or doing any work here. He basically just took out a bunch of debt, sold a ton of shares in the company, and then took all the proceeds and went radio silent.
I would assume that if he were to make an announcement, that all the creditors who are owed a few million dollars in unpaid short term loans would come calling.
I'm sure you would, considering you're an investor in Renovacare's competitor.
I remember when they announced that they had three (THREE LOL) miners running and they managed to get a full 25 btc block...stock jumped to almost 3 cents a share. hell, i was even positive back then about MELY's forecast. Then they stopped doing anything, stock started crashing, dilution started in earnest from convertible debt, and Brett took all the money and ran.
really sucks...if they had gotten things completely set up and mining just 1 BTC a day plus an occasional block they'd be pulling in over a million a year in revenue.
they went out of business over a year ago when the owner/CEO milked all remaining cash out of the business via 'consulting fees' (about 800k-1m if i recall correctly). It's in their last couple of financial statements.
Technically MELY is still a valid, tradeable stock, but the business has over 2.5M in debt that was due in the last 15 months and they haven't had any revenue in two years. Even if they wanted to start back up again, they'd probably be unable to get any funding, as they're behind on all their other debt already and likely wouldn't be able to acquire enough new debt to pay off the old.
MELY had a chance to do something, but was mismanaged and then liquidated by the owner. No idea why anyone is still buying and selling this dead company (other than pump and dumps).
is it pump day for MELY?
Well their facebook page doesn't have any posts after Jan 16, 2016. Their BTC Pool Party site no longer exists, and the MELY main site hasn't been updated since August 21, 2014. They haven't submitted a financial report since October 2015.
If there had been any update in September 2016, this board would certainly have been talking about it, and so would you considering you were posting here in August and October 2016. But, considering there was only a single post made here in September 2016, chances are you're either wrong about the timing of whatever you're referencing, or simply lying to try and pump this dead ticker for another day.
The email supposedly from Brett last week was posted by someone who started following MELY during the recent pump, and appeared to not be from Brett's actual email address, so I'm guessing that was a fake email with a photoshopped screenshot or a made up email address.
that's a straight up lie by you, the last communication from MELY was January 16, 2016. There was no announcement in September 2016. You can look back in this board history to verify that.
they haven't been actually in business since Jan 2016. The email floated around here last week was a fake. Funny how that poster disappeared from this board after posting it...
MELY is dead, and the last two weeks have simply been an organized pump and dump. I highly doubt Brett had anything to do with it, as posting anything publicly would have made this go on a bigger run than it did. However, if they start trying to show life again, you have to remember they have about $2M worth of short term convertible debt that was due early 2016. They didn't have the cash to pay any of it, so even if they were to launch something here again, there would be billions of shares converting, making it nearly impossible to get the share price up at all.
In that case I would guess its a fake email being screenshot and posted.
If you'll notice, the initial in the circle to the left is an H. With an email address of "beverett@melypk.com" and the email sender's name of Brett Everett, then the initial in the circle would be either a B or an E, based off of gmail settings. There is no H in the email address or Brett's name, so I'd be very wary about this being a real email.
Also funny that he'd suddenly respond after being AWOL for a year. Mind you, if the company still exists, it has over $2M in debt that was due over the course of the last 14 months.
What email address replied?
haha...a news article on a penny stock? doh'k.
Check the last couple quarterly financial reports. Specifically under the area showing 'Consulting Fees'. Company paid out six figures worth of consulting fees when the only employee of the company was the owner.
After the debt started becoming due and the stock became zero-bid, the company went completely radio silent and hasn't responded to anything or anyone in 14 months.
The single person that made up this company took all the cash and bitcoins mined from the business and then went AWOL about 14 months ago. Don't hold your breath waiting for them to give any sort of update.
from the company well over a year ago. right before the owner took every dime he could and then closed up shop. only thing I want here is for you pumpers to be stuck with 500M unsellable shares.
just keeping the masses informed that you're pumping and dumping a dead company. please come up with better insults going forward. thanks!
Their rebuild consisted of not doing a single thing other than selling off all their equipment and shutting down.
LOL. I finally was able to get this POS off my books last week after having to sit on them for over a year without anyone buying. I want nothing to do with this anymore. This is nothing other than a classic .0001 pump and dump. Company is defunct and the owner cashed out.
yes, they sold all their equipment/miners, closed their facility space they had rented, and then the owner charged about a million dollars in 'consulting fees' to the company and went AWOL last winter.
they sold off all their bitcoin mining equipment and closed up their facility last winter. since then they've not submitted any of their required financial statements, stopped posting to all social media channels, and the owner cashed out everything as 'consulting fees' and ran.
While that would seem to benefit PLM, isn't it the state that's holding things back, not federal? I haven't been following that closely the last year or so, so I may be wrong.
so someone's pumping and dumping? MELY hasn't put out so much as a facebook post in 18 months, much less any of their required filings. What makes you think they're suddenly going to become active again?
thanks for requesting.
Pretty much. This is one of my core long-term stocks. They're everywhere, and used for everything. this is one of the safer long term plays out there. Would like to see a little higher dividend, but their consistent growth makes up for that.
and it's dead again. lol. i don't know what happened this week, company has been MIA for almost a year and a half now, but I'm glad I was able to finally clear this off my books.
and it's dead again. lol. i don't know what happened this week, company has been MIA for almost a year and a half now, but I'm glad I was able to finally clear this off my books.
Until something else actually happens with this product, it should stay in the $3.75-4 range. No idea what the last week's big pop was about, but it's back down to it's reasonable level.
I'm out...I'm finally out! Thank you to whatever sucker bought my shares!
just popped in for a couple thousand shares. hoping to see this as the next instagram/snapchat and get on a facebook buyout radar. with 50M shares currently, even a low buyout price of $500M puts this at $10 a share (usd).