Microelectronics Technology Co. (fka MELY)

[ihubmkasp]

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).