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wantoberich; You are misunderstanding the way the Market works, when a company is trading on the Pink sheets vs. the BB, the same Market Makers can trade the same company stock. The Market Makers have less info they have to report among other things and usually the "Pink" shares that the MM's sell on the open Market are usually "Owned" by the MM's. Going Pink for Michelex can actually have an advantage in this case Concerning Cornell because now the company is not an open book for Cornell anymore, but Michelex definitely will Prob. lose some investor interest which is not good, but lack of investor interest is not the reason the PPS is so depressed anyways, it's the massive short position that Cornell has and I don't see this stock running up until they cover or are Forced to cover, which I believe the company is going to try and make happen Pink or not. But once this goes Pink, if you have Alphatrade or some other Pink sheet level 2, you will see many MM's trading this, not just 1.
wantoberich; There doing that now!!!eom.
MM's looking for cheap shares today, best ask at .03 they sure aren't selling any cheap. They are looking for bailers today, prob. tomorrow too.
alleyoop007; I talked to him Fri. he didn't sound too optomistic about making the deadline. Unless they request a hearing it will prob. go pink at this point. Really sucks for a company with the asset base and Business orders this company has! Cornell really flushed these guys good, I'm not selling for a loss though, I'll wait it out with this company, they will come back with a roar in my opinion.
rpt; Michelex needs a day like that!!!eom.
RPT; Well My Opinion of the SEC is "It's a FREAKIN JOKE" They pick and choose what laws they enforce and then pick and choose which companies they enforce them on! The allowing of Naked shorting to go on is the worst case I have ever seen of Non-Enforcment of the Law, while off-shore Hedge funds Pillage small companies. Another scenario is not forcing MM's to report to the public the short positions on BB stocks like MLXO, this is wrong, we have a right to know!!!
new2005; A little birdy landed on my deck while I was grilling steaks and said MLXO Might have a PR Monday!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! LOL! Not really, but I did hear they may release one ASAP.
wzebra33; I heard we may see a PR Tomorrow.
2 "Business" Day Period Link;
http://www.otcbb.com/DailyListContent/delistings/OTCBBDelOpenReport.pdf
new2005; Are you on Medication or Something? It's already been posted that there is a "TWO BUSINESS DAY" "GRACE PERIOD" Before they get delisted to the Pinks, so they actually have until Tues. night 11:59 PM, at least thats my understanding. I have been trying to keep a positive outlook here, but whether the company will get the 10K in without delisting like I said Fri. it's not looking too good at this point, but whether they go pink or not I'm not bailing on this one, it can still have a run back to it's fair valuation even if it's pink. So new2005, stop posting things I didn't say! If you gonna quote me, then quote exactly what I said not just what makes yourself look good.
new2005; Who the Hell are you? "I Told You So" Some Guru that we should all take your advice? If your not happy with this stock, then bail! Nobody is making you stay! I'll gamble with my money on whatever stock I choose, I still think MLXO is a good bet Pink or otherwise, they have been around since 1972 with 28 years of profit and more orders than they can fill, they definitely are NOT going out of business anytime soon. 15 Mil assets, 12 Mil Revs, 88 Mil O/S, 26 Mil Float, Yeah I'll stick around for the run back to fair valuation land.
bankofblake; Hey dude, shoot your jets at the company or Tom G. I'm just posting what was told to me. I'm sure theres more behind the late filing than what hes telling me, but I'm just an average shareholder like anyone else here and he already told me on the phone that if he disclosed anymore, he would be in risk of giving out insider info and he wasn't going to do that. I think it sucks too, but I'm not bailing out on this company and taking a loss! Pink or not, the Market-Cap is way higher than what it's priced at right now. If this dips,I'm sure Cornell will take advantage and cover knowing that they are history with this company. Just because it goes pink doesn't mean it can't run.
Well it's not looking good for the 10K we have been waiting for, but if MLXO goes pink, Tom G. said it wouldn't be for long, he said today that they have pushed the accounting firm as much as they can, but they have to file complete statements. He said, if they do go Pink it won't be for long, they will be back in reporting status as fast as they can, They are reorganizing and have some good news to put out, according to Tom G. For those of you that think this will tank if it goes pink, it will be from those shareholders that bail and will give Cornell an even better price to cover at. If it drops more, I am adding more because once they get reorganized, this puppy will fly. I asked Tom G. if he could give me a time line for the company to get out of the hole Cornell created for them, he said 4-6 weeks they should be back on top of things. He said Cornell created a real mess for them, mainly because they were counting on Cornell for financing, but when they found out what Cornell was doing to their stock there was no way they were going to use their funds and get caught in the web of Toxic Death spiral financing, gotta give him credit for breaking away from that crap. My opinion, short-term the PPS may dip some "MAYBE"? It might just keep going sideways also, depending on how many people bail, but Long-term this is a definite Money Maker.
ecp1976; I sent you one anyways in case you want to send me something.
ecp1976; I just sent him an email because he asked me to, I don't have any info to send.
bankofblake; Sent you an email. eom.
Thats how Cornell buys a controlling interest in the company they sign a SEDA with, by first shorting them into the ground, as is the case with MLXO, then buying up a controlling interest, but MLXO doesn't want their money from short selling MLXO.
hurley cruppers; That was their withdrawal from becoming a BDC (Business Developement Company) which they probably were doing on the advice of the same idiot Investment Banker that hooked them up with Cornell, Many Investors shy away from BDC's one reason is they can dilute without notice by selling Unregistered securities, they are exempt from some of the rules that normal BB stocks must follow. For MLXO to withdrawal from the BDC Venture was another lesson learned In My Opinion. Here are a couple links on BDC exemptions.
http://www.sec.gov/answers/regd.htm
http://www.sec.gov/about/forms/regd.pdf
rpt; Only Problem is MLXO Has not used any funds from Cornell and are not going to.
hurley cruppers; Ya know thats something I mentioned in a previous post, Tom G. said they need financing for Raw Materials, If they come out with news of new Financing for these Plants in France to get up and running, Cornell has had it! Tom G. said they have been turning down work because they need financing for Raw Materials. Like I said, If I was advising them, I would release a PR as soon as the new financing is in play, along with a Buy-Back at these depressed prices, and hopefully time it just right with the last minute filing of the 10K. If they could pull that off, Cornell would take one up the azz, and well deserved it would be. I posted this before, but I'll post it again, Tom G. said that someone who has looked over Michelex in their current situation likened the company to a Ferrari that has had it's gas stolen by Cornell! As soon as they get gassed up, well, a Ferrari Speaks for itself eh? Waiting for the Fireworks to begin here.
new2005; Where did I say that I gave up on MLXO Filing their 10K before going pink? They actually have until next Tues. 11:59 PM. I was just giving a thought on it if they do go pink. If they do go pink that doesn't mean the PPS will tank! I'm sure their are some who want it to, but this stock, pink or not, with 15 mil assets, 12 mil revs, 88 mil O/S @ .03 is way way way undervalued. Whether it's pink or not!!!!!!!!!! If this goes pink it can still run up to the teens-.20's easy if Cornell is squeezed.
It appears that the MM's are selling off the bid, although appearances may be deceiving.
LAST 10 TRADES
Time Price Volume Exchange Info
16:06:49 0.029 4900 OTC BBS at Ask
15:59:27 0.029 2600 OTC BBS at Ask
13:14:56 0.029 6500 OTC BBS at Ask
10:36:21 0.028 2400 OTC BBS at Bid
JPTC On the Ask? They have not been trading MLXO Hardly at all, only 10,000 shares between March and April, I wonder whats up with that? Any opinions?
purlieu and all; One thing I've learned from trading pennies is that every stock is different, you can't compare one stocks performance to another, all have different factors driving them. "IF" MLXO doesn't not get this 10K filed in time and gets delisted to the Pink Sheets, as far as Market reaction is concerned, it could go either way, it is definitely not good for the company as far as the cost and time consumption to get back in reporting status. But it could be good in one respect concerning Cornell and their short position. Cornell is a Hedge Fund that doesn't like to hold positions too long when there are considerable risks involved. If MLXO Goes Pink, that means they are no longer required to file 10Q's for one thing, Pink sheets are basically Unregulated as far as filings go, they still have to file an annual statement, but no wheres near as in depth as BB stocks and no Sarbanes-Oxley. I don't know what MLXO has up there sleeve, but I know they do have something and they are playing hardball with Cornell. Going Pink for a short time might be part of their strategy? I don't know. If they go Pink they can do some things without reporting them, things that could put the screws to Cornell. MLXO Could be waiting until the last minute on purpose too, did anyone think of that? You know Cornell is watching like a hawk and Probably reading the message boards to see if they can get any info also. What if MLXO Files at the very last minute and releases a PR with a secured financing deal with someone other than cornell, along with a Buyback plan, and news of new contracts and news of their new plants up and running! What if they released all this at once? The message boards would be humming with MLXO all over and at these depressed prices we would probably see a buying frenzy and Cornell would be covering so fast your head would spin. If I was advising MLXO that would be my plan, hit Cornell with a 1,2,3, PUNCH! The other day when I was on the phone with Tom G. he said he had to let me go because he had to take a call about their FINANCING DEAL! That little tid-bit of info told me that they are definitely working hard on this and are not going to let Cornell Win. Now this is all speculation on my part, but I am betting on this, My Opinion is that MLXO is going to hit Cornell HARD AND FAST when they do. I may be wrong, but if I'm right, I don't feel sorry one bit for those who bailed out! Patience wins out here.
If this goes Pink that doesn't mean the PPS will go sub-penny.
OT; Back in March I was heavily invested in DWMA, when I found out that they were talking about selling out to Intelligent Energy and would be doing a 1 for 5 Reverse split, well to make a long story short, the stock had been down and moving sideways for weeks, just like this one, it had a little spike from the mid-high .90's to around 1.08-1.10 so I bailed thinking it was going to tank on the Reverse split news, 3 days later that sucker ran to the 1.80's, I've been kicking myself ever since!!! This stock has a better chance of running than that one did, this is a Solid Company folks, 28 years of profit out of 33, publicly traded for less than two, with their assets,revs and O/S their Market-Cap is insane at this share price! This stocks fair valuation is in the teens at least, if Cornells short position was gone, thats where the PPS would be In My Opinion.
Just because they are down to the wire doesn't mean they won't get the 10K filed. They know the downfall of getting delisted to the Pinks and they don't want or need that, so I am still keeping some confidence here, they have till the 22nd.
bankofblake; I for one am holding, 10K or no 10K MLXO is going to force Cornell to cover their short position, I made the mistake of bailing on one of these before it ran up and I'm not missing out on this one either. Tom G. is seriously considering a buyback also, so watch for that too.
new2005; You seem to have the Jitters? Worried about your investment? Maybe you should exit and let us gamblers gamble in peace? LOL! Whatever, even if this goes pink there is still alot of upside potential. Cornell may get spooked if it goes pink? Tom G. said they have a plan to combat what Cornell has done and he sounds pretty confident that it will work, I think he hired some good advisors to deal with this. There are Pinks trading in the dollars with less assets than this company has! Did anyone see what AUML did last year before their forward split? from .10 to 5.00 a Pink Sheet!
wzebra33; Thats exactly why I brought that up when I spoke with Tom G. Today. I told him even a small buyback of a few million shares would really help. Investors like that and it would make the float smaller also and give Cornell all the more reason to get their short position out. But their are rules that govern buybacks, they can't be used to manipulate the price and if I remember they can only buyback a % of the daily volume or something like that.
sawdin; I did bring up the 100 for 99 Forward split several weeks ago, but Today I brought up the "Buyback" idea, he was very receptive to that, he thought that was a good idea. The bottom line was, that he needs to spark some investor interest here and get some info out to the current shareholders. I let him know that there are many who are on the verge of bailing out and he doesn't need that either, he needs to communicate with us with a nice PR about whats going on.
sawdin; He told me the same thing, that they are putting some serious pressure on the accountant to get it finished, he said it's in the accountants hand and they are just waiting for them to finish it, they are also waiting on the 10Q also.
I spoke with Tom G. this morning, They definitely have a plan to combat Cornell, Tom believes the short position that Cornell has created is substantial, he is the Majority Shareholder in MLXO and he said that he is more upset than anyone about the PPS and what Cornell has done. He could not give me details of their plan, but I gave him a couple suggestions to help this one of which he liked and that was, even though the company is seeking financing, I'm sure Tom G. & Family are pretty well off Financially, that they do a Buyback of shares on the open market, I said that if Cornell gets wind of that they are going to do something because the last thing they want to do is get caught short and have to cover in the teens or something. He really like the idea, I said it doesn't have to be a large buyback either, a few Million shares would do it, because Investors like things like that. I also mentioned a 100 for 99 forward split, something that would only increase the O/S fractionally but cause the certs to be audited and Cornells shorts exposed. The bottom line I told him is that shareholders really need to hear something from the company like right now because many are getting nervous about holding their positions here and the last thing he needs is for everyone to start bailing and then the stock is really in the crapper. I think the message got thru to him, (I Hope). They really need to release a PR and give investors a good reason to be here in the first place. Let us know what the deal is.
Thanx for the Thanx but I Am NOT "in Love" with this stock, I just know a good bet when I see one, and this company can be turned around so easy and the PPS driven up to the teens to .20's even .30's so easy it's not funny. Watching these MM's move the PPS around on 5-10k buys and sells is hilarious to watch, they know Cornell maybe in a pickle soon and they know it. Anything good coming from this company that will attract buyers and Cornell will cover in a flash rather than get caught short, then this will rocket, and thats the bottom line, myself, I'll hang around for that anytime.
MLXO Has 30 days from 4-22-05 to file.eom
lakers17; Hey man, don't shoot the messenger! I just posted what the Director of the company told me, I have no affiliation with this company other than I bought a bunch of stock, In fact I never even knew of Michelex before March! LOL.
new2005; I told Tom G. Today as nice as I could, that if they don't get this filed and they go Pink, that there will probably be a bunch of investors bail, I hope that lit a fire under his you know what, to get this filed and overwith.
Just because they post a loss on their 10K means nothing when they have 12 Mil in Revs, 15 Mil in assets and a 88 Mil O/S. @.035 that is an awful small Market-cap for a Company like this. My opinion fair valuation for this stock is Low to Mid Teens at least, loss or no loss. This stock has a HUGE SHORT Position on it from Cornell Capital and that is why the PPS is depressed, PLAIN AND SIMPLE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I spoke with Tom G. again late this afternoon and this what he told me. The main hold-up on filing the 10K is not the company, it's the accounting firm that has has some personnel problems, Michelex is putting some major pressure on them to get it done, he said they are only a few days away from completing it and they are in the process of contacting people from the either SEC or NASDAQ about getting this in without being delisted to the pinks. There maybe a short grace period, he seems to think, but they are doing all they can to get it filed. He said the last thing he needs right now is to go Pink. So I think they are going to be working overtime this week to make sure it happens by the sound of it. I sure hope so. They have 5 more days, just because the Market is closed on the weekend they can still file electronically.
new2005; WRONG! Tomorrow is not the last day! The "E" was placed on MLXO On the 22nd. Heres the print from OTCBB.com They have 30 days from that date which puts it at May 22nd.
http://www.otcbb.com/asp/dailylist_detail.asp?d=04/20/2005&mkt_ctg=OTCBB
SYMBOL CHANGES
Updated Date Old Symbol New Symbol Name Comment
13:55 04/21/2005 AUTQE AUTQ Auto-Q International, Inc. Common Stock **
13:55 04/21/2005 WSRM WSRME Western Sierra Mining Corp. Common Stock **
13:55 04/22/2005 AEXCA AEXCE Ampex Corporation Class A Common Stock **
13:55 04/22/2005 CHPI CHPIE China Printing, Inc. Common Stock **
13:55 04/22/2005 MBMW MBMWE Micro Bio-Medical Waste Systems, Inc. Common Stock **
13:55 04/22/2005 MBYI MBYIE Monterey Bay Tech, Inc. Common Stock **
13:55 04/22/2005 MENB MENBE Mendocino Brewing Company, Inc. Common Stock **
13:55 04/22/2005 MEWX MEWXE MediaWorx, Inc. Common Stock **
13:55 04/22/2005 MGRY MGRYE Montgomery Realty Group, Inc. Common Stock **
13:55 04/22/2005 MHLX MHLXE microHelix, Inc. Common Stock **
13:55 04/22/2005 MHLXZ MHLZE microHelix, Inc. Class B Warrants 11/16/2006 **
13:55 04/22/2005 MICG MICGE Microfield Graphics, Inc. Common Stock **
13:55 04/22/2005 MLDS MLDSE Million Dollar Saloon, Inc. Common Stock **
13:55 04/22/2005 MLXO MLXOE Michelex Corporation Common Stock **