Matech Corp. (fka MTCH)

[makesumgravy]

When did they receive this and from who?.......A private placement only means that someone or some entity purchased some option. When this is sold back into the market retailers will pay for this placement or has already. The money still went into the hands of the person who was running this company.

I don't wish to take this out of context, nor should they. This could be made to look like this placement was done in 1983, but this is not what it states. It only states that the company was founded in 1983 and using all this other information in the same paragraph. Whatever they did, this is still no excuse for the exorbitant amount of money this Ceo took out of this company.

Whatever is being said here this company is running deficits since then and to the present. Its a money pit.

Its not the first, and it won't be the last as long people want to give them their capital.....This would make the people on wall street drop their mouths from such a tiny little unprofitable company.

This is no way a reflection on this company but the money amounts are close to equal........Opbl had some insiders who sold some stock based on some insider information. Alot of different things played out but when the figures hit the street of how much money was involved in the selling take a look at what happened. This particular company had the Nymex invested in it and a big bank institution in Canada......The point is that this was and exuberant amount of money and not only retailers got stock but the Nymex to.......The Nymex can absorb the losses in the form of a tax write off if they were to sell but retailers are just stuck, considering all things if retailers are lucky they may get back less than half or unlucky or unfortunate none of their capital back. There is more than one class action against them for all the losses the company cause everyone.

If Mttg was have taken $2 million out this would have been a considerable amount of money from retailers "alot". But this is beyond comprehension logically, but greed is primarily the culprit. There is no excuses nor rational judgement that can be used to justify this other than greed.