Michelex Corp (fka MLXO)

[joenatural]

That's a great point, as I was just figuring out the approximate amount of cash that was raised through dilution. Knowing that cash went to pay down (or off) debt is a plus and also indicates the company itself didn't need $1 million through dilution over an 18 month span for operating expenses.

"Hey Joe, just curios, where did you hear that $1 Mil was raised thru dilution? Thats not was I have been told, the new shares we have seen were for an old debt to Cornell Capital from way back in 2004/2005, so the company didn't get a dime from those shares this year or last, that all went to Cornell. Approx 15 Mil shares worth anyways, we also know they paid a vendor with stock last summer/fall 2006, Ayudah funding, Argilus Investment Bankers, Wells Fargo, ect ect ate up the rest, my understanding is that the company didn't get anything from all the new stock issued, it all went to debt. This new financing they have now is what is expected to start to turn this around. Thats my understanding anyhow."