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Share Count as of last Fri................
Authorized;; 100,000,000
Outstanding; 88,347,309
Restricted;; 62,321,923
Float;...... 26,025,386
If you notice from the SEC Filings the company was going to become a BDC back in Nov. but then retracted. A BDC is a Business Development Company, A BDC can issue shares without filing certain forms, I think the CEO found out that this was a bad road to take because many smart investors steer away from BDC's because of the Dilution that can occur without notice so he decided not to go down that road, it shows me that this CEO is NOT a crook and wants to make MLXO a success.
Well 1st question is how much funding do they really need? They had 12 mil in revs last year, they reported a loss, but still they have been in business since 1972 and have assets of 15 mil, I think some creative work on their handling of what they have would help, but I am not familiar with all that the company has going on, I just jumped in a few weeks ago. My next question to the CEO is what do they need all this financing for in the first place??? And If they really need it, there are much better places to get it from other than Cornell Capital Greedy SOB Toxic Shorter POS's and thats being nice!!!!!!!!!!!! HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
Fishstix; The number I got from the company for the Investor Relations guy is 832-689-4922, his name is Charles something, but he is a POS, don't even waste your time calling him, I called him for 2-3 weeks straight leaving voice mail and not a single returned call until the day he answered his phone one morning and hung up on me when I said I was an investor in MLXO, I reported him to the company and called him back and left a message informing him I informed the company about him and I hoped they fired him, he called back in 5 mins! HAHAHAHA But I didn't answer because the company said the CEO would call me personally since I was having so much trouble, and he did. Very nice guy, he seems like an old school business man, he sounded like he was unfamiliar with what Cornell does to companies but when he found out he decided not to use them for financing and try to combat this and get the stock back where it should be, but call yourself, heres the number, his name is Tom Gramuglia, tell the lady that your a shareholder and would like to speak with Tom when he has time, much better than talking with the POS IR Guy. 315-769-6616.
I don't know, but I do know that the CEO told me that they are not going to use funds from Cornell Capital, he seemed unfamiliar with the way they work, and now since MLXO doesn't want Cornells short money, what choice do they have but to cover and get out? I think Cornell has been shorting this for the last 3-4 months, the float is 26 Mil the last time I checked with the T/A but I will call tomorrow to get any updated count. Now that the CEO's eyes are opened to what Cornell does he doesn't want their money, smartest thing he could do is to break it off with the Greedy SOB's.
MLXO; My Opinion we are seeing Professional short Covering in action, they cover a mil or 2 in shorts and bring it back down on a few hundred short sells so they can it all over again tomorrow until they have covered and made their money, Lather, Rinse, Repeat! Some old crap.
My Opinion we are seeing Professional short Covering in action, they cover a mil or 2 in shorts and bring it back down on a few hundred short sells so they can it all over again tomorrow until they have covered and made their money, Lather, Rinse, Repeat! Some old crap.
MLXO Coming off it's Bottom with Cornell Capital exiting and a small float of 26 mil there is lots of upside potential for MLXO!
MLXO coverage today from the Bellwether:
bellwetherreport.com: Bellwether Reports On Michelex Corp!
Apr 12, 2005 (M2 PRESSWIRE via COMTEX) -- Today the Bellwether Report has
identified a company that our analysts will be tracking over the ensuing weeks.
MICHELEX CORP. (OTC:MLXO), came out with a significant corporate development
this month, causing a positive market correction. For a full report on the below
mentioned company feel free to visit www.bellwetherreport.com for a free 30 day
no obligation trial.
Michelex Plastics was founded in 1972 and is made up of three divisions. They
are a manufacturing import & distribution of C-Zeros, C-Shells, Norelco Boxes,
Jewel Boxes & other related specialty plastic products. The Co. has
manufacturing facilities & distribution points in New York & Salt Lake City. The
Co. employs over 100 people who are committed to the customers & to the
operations of the business. Michelex offers a full range of products through its
division to make it a one stop shop for their customers.
Michele Audio offers audio duplication services & an exclusive rights holder of
large catalogue of music & spoken word recordings.
Michelex Media Products produce, supply & distribute paper multimedia packaging
products, also offering complete fulfillment services to its customers.
There hasnt been a public financial report for Michelex Corp. since Novemeber
23, 2004. When management released a plan of operation to initiate a turnaround
plan to bring Michelex back...
MLXO coverage today from the Bellwether:
bellwetherreport.com: Bellwether Reports On Michelex Corp!
Apr 12, 2005 (M2 PRESSWIRE via COMTEX) -- Today the Bellwether Report has
identified a company that our analysts will be tracking over the ensuing weeks.
MICHELEX CORP. (OTC:MLXO), came out with a significant corporate development
this month, causing a positive market correction. For a full report on the below
mentioned company feel free to visit www.bellwetherreport.com for a free 30 day
no obligation trial.
Michelex Plastics was founded in 1972 and is made up of three divisions. They
are a manufacturing import & distribution of C-Zeros, C-Shells, Norelco Boxes,
Jewel Boxes & other related specialty plastic products. The Co. has
manufacturing facilities & distribution points in New York & Salt Lake City. The
Co. employs over 100 people who are committed to the customers & to the
operations of the business. Michelex offers a full range of products through its
division to make it a one stop shop for their customers.
Michele Audio offers audio duplication services & an exclusive rights holder of
large catalogue of music & spoken word recordings.
Michelex Media Products produce, supply & distribute paper multimedia packaging
products, also offering complete fulfillment services to its customers.
There hasnt been a public financial report for Michelex Corp. since Novemeber
23, 2004. When management released a plan of operation to initiate a turnaround
plan to bring Michelex back...
I think we are seeing Short Covering playing with the PPS these Huge Hedge funds are Professionals and they know it takes more buying to make the PPS go up then it does down, so they cover a bunch of shorts until the PPS reaches certain price and then sell a few more short to bring it back to their desired buyback or cover price, they will keep playing this way until they have made their money and their shorts covered and then nothing will keep MLXO Down!!! With a small float like MLXO has it's easy for these Hedge Pigs to play their game.
MLXO Post from Raging Bull!!!!!!!!!!!
By: stockcruiser0
12 Apr 2005, 11:44 AM EDT
Msg. 587972 of 587998
Jump to msg. #
MLXO coverage today from the Bellwether:
bellwetherreport.com: Bellwether Reports On Michelex Corp!
Apr 12, 2005 (M2 PRESSWIRE via COMTEX) -- Today the Bellwether Report has
identified a company that our analysts will be tracking over the ensuing weeks.
MICHELEX CORP. (OTC:MLXO), came out with a significant corporate development
this month, causing a positive market correction. For a full report on the below
mentioned company feel free to visit www.bellwetherreport.com for a free 30 day
no obligation trial.
Michelex Plastics was founded in 1972 and is made up of three divisions. They
are a manufacturing import & distribution of C-Zeros, C-Shells, Norelco Boxes,
Jewel Boxes & other related specialty plastic products. The Co. has
manufacturing facilities & distribution points in New York & Salt Lake City. The
Co. employs over 100 people who are committed to the customers & to the
operations of the business. Michelex offers a full range of products through its
division to make it a one stop shop for their customers.
Michele Audio offers audio duplication services & an exclusive rights holder of
large catalogue of music & spoken word recordings.
Michelex Media Products produce, supply & distribute paper multimedia packaging
products, also offering complete fulfillment services to its customers.
There hasnt been a public financial report for Michelex Corp. since Novemeber
23, 2004. When management released a plan of operation to initiate a turnaround
plan to bring Michelex back...
MLXO Post from Raging Bull!!!!!!!!!!!
By: stockcruiser0
12 Apr 2005, 11:44 AM EDT
Msg. 587972 of 587998
Jump to msg. #
MLXO coverage today from the Bellwether:
bellwetherreport.com: Bellwether Reports On Michelex Corp!
Apr 12, 2005 (M2 PRESSWIRE via COMTEX) -- Today the Bellwether Report has
identified a company that our analysts will be tracking over the ensuing weeks.
MICHELEX CORP. (OTC:MLXO), came out with a significant corporate development
this month, causing a positive market correction. For a full report on the below
mentioned company feel free to visit www.bellwetherreport.com for a free 30 day
no obligation trial.
Michelex Plastics was founded in 1972 and is made up of three divisions. They
are a manufacturing import & distribution of C-Zeros, C-Shells, Norelco Boxes,
Jewel Boxes & other related specialty plastic products. The Co. has
manufacturing facilities & distribution points in New York & Salt Lake City. The
Co. employs over 100 people who are committed to the customers & to the
operations of the business. Michelex offers a full range of products through its
division to make it a one stop shop for their customers.
Michele Audio offers audio duplication services & an exclusive rights holder of
large catalogue of music & spoken word recordings.
Michelex Media Products produce, supply & distribute paper multimedia packaging
products, also offering complete fulfillment services to its customers.
There hasnt been a public financial report for Michelex Corp. since Novemeber
23, 2004. When management released a plan of operation to initiate a turnaround
plan to bring Michelex back...
MLXO; The Company is in the process of getting rid of Cornell Capital. Cornell is the main reason the Stock price has declined so much, they have shorted this to death since they inked a deal back in Nov. After the CEO Learned of what Cornell was doing they decided to NOT use Cornell funds as a source of Financing, getting Cornell to cover their shorts is what we are seeing now, they have only covered a fraction so far In My Opinion. Time will tell if they cover the rest, I have heard Cornell doesn't like to hold positions very long when it's not in their Best Interest, with MLXO Not borrowing any Cornell funds, hopefully Cornell will cover and exit.
Sawdin; Getting rid of Cornell Capital in itself could bring this to the teens if they covered their short position here, My opinion they have covered only a fraction of it so far, One thing for sure, watching this bounce around on low volume tells me the MM's don't have alot of shares to spread around.
Yeah, as long as Cornell and their Hedge Buds keep their Mits off this stock and stop shorting it to death.
wzebra33; MLXO Came off the SHO list Fri. But according to the CEO the company doesn't want to use it's standby equity financing money from Cornell Capital, thats the SOB's that shorted this, they Prob. give the MM's kickbacks to let them cover cheap, if this was normal retail buying pressure over the last few days we would be double where the price is now In My Opinion. But I think Cornell is covering cheap right now.
Gappin In the Green hope it keeps up!!!eom
VOLUME & GAP ALERT! MLXO HEDGE SHORT COVERING!
*MLXO* Watch for Hedgefund Short covering next week!eom
The Chaikin Money Flow went green today, the last time it was green we were at .10 a share back around march 23rd, good sign that the shorting is overwith, Cornell knows that the next 10QSB is coming next Fri. and we have been on the SHO list since march 29th, the short fails have to be covered by the 15th to be within the 13 day covering rule, same day the 10Q comes out, next week should be a good one for MLXO, Just my opinion, but I am looking for alot of short covering next week, I think we saw some today, the MM's are keeping it low for shorty thats for sure, they prob. get a kickback for the chit.
I can't believe that todays Volume was printed as almost all buys and this is all the price moved? I think this is winding up for a pop! How can they keep the price this low with this amount of buying pressure after all the shorting by Cornell? Unreal! Oh well at least we had a green day, first white candle in over a week.
MLXO Spoke with CEO hes not taking Cornells Money, Cornell has Shorted MLXO from .20 to .025, now MLXO Doesn't want their Standby Short Money, Cornell may cover in a hurry, Kaboom???
*MLXO* Short covering maybe underway!!!eom
The first UPTICK In days, I think I'll have a early Margarita!!!!!!!!!!!! LOL!
Since the CEO is not borrowing any cash from Cornell, Cornell runs the risk of getting caught short if good news or good financials come out, The Ball is in the CEO's hands at this point In My Opinion. If he can show profitability here, thus showing a much higher valuation than what we are at now, all these shares thathave been sold short will get covered in a hurry. Time will tell, Next Fri. 4-15 is when the next Filing comes out.
Sawdin; I don't know the answer to your question, But I do know from talking with the CEO That MLXO is NOT getting anymore/ANY cash from Cornell. The CEO Is fed-up with what they are doing to the stock and supposedly have a plan in play to turn this around, he said there are no guarantees though. I don't know how much, if any, cash they got from Cornell.
Busy Jammin on my new Toy, a Yamaha Motif ES7 awesome machine, it's Yamaha's top of the line keyboard has a built in recording studio that can be hooked right in to my Computer recording system, one of the most awesome keyboards I've ever owned. How about you whats been going on? Did you sell all your CDVJ?
firefight4......................
Hey Dude whaz up? Use that ART effects processor yet! LOL! Guess who????????????
Lazarus; I spoke to the CEO and they are not getting any more Financing from Cornell Capital
Heres an Interesting read from last year concerning MOBL after they inked a deal with Cornell Capital, Take note of the second to last Paragraph where it states that the share price of MOBL CLIMBED when it no longer faced market pressure from Cornell!
A Short Play Waiting to Happen
By Dave Porter - Senior Staff Reporter
MobilePro announced a $100 million equity financing agreement with New Jersey-based Cornell Capital Partners, a hedge fund prone to sell short and finance customers with their own capital.
May 14, 2004 (AXcess News) Bethesda MD - MobilePro Corp. (OTCBB: MOBL) announced a $100 million equity financing agreement with New Jersey-based Cornell Capital Partners, a hedge fund prone to sell short and finance customers with their own capital.
Since announcing its third quarter results February 13th, MobilePro has signed no less than four Letters of Intent to acquire Internet Service Providers (ISP), recorded a loss of $637,053, or $.005 per share on no revenue and completed the acquisition of EXP Internet Services, an Internet services provider based in Beaumont, Texas.
MobilePro CEO Jay Wright was unavailable to answer AXcess News questions regarding the equity capital financing his company was pursuing. The terms of that financing provide MobilePro with a Standby Equity Distribution Agreement (SEDA) with Cornell Capital Partners, L.P. upon affecting an SB-2 registration statement.
The capital commitment marks the second time MobilePro has done business with the New Jersey-based hedge fund. Wright's company inked a $10 million SEDA with Cornell in 2003. Today's news release stated that the terms of the SEDA were more favorable than the previous agreement but failed to give any details on just how favorable those terms were.
Matt Beckman, managing partner of Cornell Capital, stated in Friday's announcement that "MobilePro has been one of our best clients in effectively using the SEDA to grow its revenue."
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Apparently, Beckman didn't read the third quarter 10-Q in which the company disclosed that it had no revenue for the nine months ending, December 31, 2004.
While MobilePro had no revenue in the first nine months, it did have trading volume, which is necessary in order to absorb the short sell pressure from hedge fund financing. The 90-day average daily trading volume for MOBL was reported to be 9,836,541 shares on Friday.
MobilePro's signing of four letters of intent to acquire ISP's may provide the company enough cash flow to survive, but investors shouldn't look for immediate results if the company continues drawing down capital from its SEDA with Cornell. The 2003 financing left investors in a lurch as share prices declined. When MobilePro no longer faced market pressure following its $10 million SEDA, its share price climbed. Wright's comments in Friday's announcement about "better terms" may be a lesson learned or it could be another short play waiting to happen. Time will tell which way this micro cap stock will go.
Shares of MobilePro (OTCBB: MOBL) were $0.218 at 11:41AM ET on volume of 6,700,702 shares, up $0.002 or 0.93%. The stock was added to AXcess News Stock Guide and Friday and will be tracked for readers interested in wireless technology and Internet stocks.
bobkubecka; I've done some intense research on MLXO, I spoke to the CEO twice this week, they are done with Cornell Capital, after seeing what Cornell has done to the stock price by shorting into the ground the CEO seems to have had enough, 3 things looking good right now 1. Second time on the SHO List March 29th, 2. Price is at 52 week low and anymore short-fails at this time and the SEC is gonna be on someones tail, 3. The CEO has had enough of Cornell Capital and he said their next SEC Filing on 4-15 will show whats up. This is a buying combination, this is a good company with 12 mil in Revs that has been shorted into the ground for one reason, and thats so Cornell can profit, but I think the Jig is about up and shes gonna POP, how big? Who Knows, but the teens seems nice at least.
Firefight4; Hey Dude, have you used that ART effects processor yet??? LOL! Guess who???
USC-Trader; The CEO of MLXO seems to be a very upstanding guy, look they have been in business since 1972, I don't think the guy is up to date on alot of the hankypanky BullSh** that goes on with this Toxic Financing crap, When he inked the deal with Cornell it Probably looked like a good deal, but little did he know they are vultures waiting to prey on the unsuspecting which is what Cornell is doing right now. The CEO of MLXO seems like an old school business man, not the scammer types we see so many of today. My opinion is that he realizes now that he hooked up with a crooked source of capital and is now trying to make the best of it by getting out of it. I asked him if he thinks MLXO will recover, but he didn't want to comment on that, he just said it should and he hopes so, he said he hopes to get back to the .20-.30 range but there are no guarantees. One thing for sure, the shorts will have to cover sooner or later and from what I hear Cornell doesn't like to hold positions for long periods of time, I'd say 2-4 weeks at the most and we should see a rebound, hopefully sooner.
Watch MLXO, Cornell Capital has shorted it bigtime, went back on the SHO List for the second Time on March 29th, Look at the chart, it was on the SHO List from Feb. 11th to March 8th, Look at the chart right after it came off the SHO List. I spoke with the CEO and they are fed up with Cornell and sounds like they are breaking off their financing deal with them, Next SEC Filing 4-15. Watch for a nice rebound when the shorts come marching home to get covered! I'm loaded up looking for .07-.10 at least. Last Oct. this ran from .25 to 1.50 Pre Forward split.
Purlieu; Heres the link, click on the 10QSB Filing from 11-23-04. Heres a copy of note 13 from the filing below. I also spoke with Tom Gramuglia the CEO Today, he said things will be turning around, he said wait until the 15th when they put out their next filing. He sounded like they are terminating their Financing Deal with Cornell after watching what cornell is doing to the company stock. You will have to type in MLXO then click on Filings. If you have any trouble let me know.
http://www.otcbb.com/asp/Info_Center.asp
NOTE 13 CORNELL EQUITY LINE
In November 2004, the Company signed a Standby Equity Distribution Agreement
with Cornell Capital Partners, LP ("Cornell") whereby Cornell has agreed to
purchase, during the next 2 years, up to $10,000,000 of the Company's common
stock pursuant to the terms and conditions of the Standby Equity Distribution
Agreement.
Purlieu; Cornell Capital is SHORTING the daylights out of this right now, go back and look at the deal inked in Nov. for Cornell to buy 10 mil in stock, well they will be getting it cheap and the way they do it is shorting like this and then try and buy a controlling interestin the company.
Dirty MM's I bought 25k More this morn. @.032 and the MM's printed my BUYS as a SELL! Manipulation! My order for 25k was 2 partials both listed as sells.
0.032 9250 12:02:00
0.032 15750 11:40:09
Anyone here following MLXO? It went back on the SHO List March 29th for the second time, 1st time from Feb. 11 to March 8th, a week or so later it doubled. I think it might be at it's bottom again and the shorts are starting to cover, deserves taking a good look at.
Timing; One thing your Forgetting.......
Is that Cornell Capital is a huge Financial company that specializes is this sort of thing, they have the resources to short a stock like MLXO and when the enter into a deal such as they have with MLXO to buy 10 mil of stock, well they are going to get it as cheap as possible and shorting the thing to near death is exactly how they do it, which is precisely what we are seeing now. I'm not against shorting, I am against naked shorting though, BUT I am also against this Toxic Financing through shorting that Cornell engages in, the only one that benefits is Cornell and the Hedge funds that participate. Or the very keen investors who are able to spot the bottom when the shorting stops and is able to get in before it pops, if it ever does. Cornell puts some companies right out of business through their Toxic practices. I wonder if the CEO Really knew what he was getting involved with when he signed a deal with Cornell???