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Friday, July 13, 2007 12:17:16 PM
I thought I smelled an avalanche in the making with this reverse split.This is typical and was easy to predict.It seems that probability got the better of your positivity on this one.
All this did was reset the share structure for more dilution in providing Peter and the gang with payroll while the shareholders take it on the chin yet again.This is nothing new,Peter used to put out news on the day of the shareholders meeting while hundreds of loyal investors were excluded from trading the action while traveling or gathering at the meeting.I remember him telling a few of us that we had news just out and the stock was moving up nicely.We were left looking at each other and feeling like we had just missed a rare opportunity to capitalize on our shares.Don't know for sure, but he was probably diluting.
IMO Peter has shown to be very efficient in making sure the shareholders did not get in the way of the company's dinner plate,he seems to know lots of little pink sheet tricks of the trade.
With the stock continuing its death spiral and shareholder pain at its worst,what do we do now? This lawsuit is no laughing matter.Does Pete have any sizeable revenue on the table? This is the only thing that will save this from a total loss.I doubt he does.
The MMXT shareholders have lost just about everything without even much being said.One minute we were a reporting BB company with potential deals,mergers and financing,then BOOM,we are a hollow, washed up little pink sheet reject that nobody seems to care about.Did our CEO just kinda pack up and quietly go or what?
I've certainly learned alot with all of this and will be smarter moving forward.When I first invested here I was under the impression that press releases had to be true.lol.I guess I was a newbie and listened to alot of hype and speculation when I should have only played the verifiable facts.It still cracks me up a bit when I look at all of the press releases Scott Stoegbaur and Pete put out last year.Not one single thing actually happened.
Pete and Scott and the rest actually made a ton of cash from this company over the years.
At least someone did.
GLTA
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