Doc,
Here are my impressions, based on what I was told, and observed:
1) Yes, I believe real companies are testing the new products.
I have a demo version of Octipod, which I've not been able
to check out yet. I was not given, nor did I ask for
timelines, but my impression was that a revenue deal could
be announced anytime for that product, and it seems that is
the first deal they expect. They are also optimistic that
the viral marketing thing will be a revenue producer, but
that AllPlay will be the big deal, yet further out. Of the
products I was shown, AllPlay, indeed seems the most
impressive.
2) Financing, I was told, is arranged and they are expecting
the first installment anyday. I was told the financing was
ready when we were told it was recently but there was some
sort of SEC rule change which caused the paperwork to have
to be reworked. The first check is supposed to be $1M, but
won't be announced til the check is in hand.
3) I was shown the records going back to the beginning. I
estimate 20 to 30 boxes full. They told me the audit was,
basically finished with the exception of the auditors
signing off on it which they refused to do until they got
paid, and we were out of money. That said, once they are
receiving some revenue (not the loan), it should be a fairly
simple, and quick process to pay the auditors, and have it
finished, as most of the work has already been done. The
merge, of course, would have to wait for that, and so, IMO,
will not be soon.
Hope this is informative. Not necessarily the answers I/we wanted, but felt they were honest and open with me, and are working hard. As I said, I am optimistic that the company can make it, not enough so that I'm buying stock now, but I'm resolved not to sell, and when/if I do buy it will be MMXT.
