Zcooler,
Now, we can have post-mortem MLTO analysis...I wish never would happen, but MLTO is almost anything, but dead....No financing, huge debt, possible pending work licence suspension, and/or paying penalty for fraudulent billing....I hope, I am wrong, still believe that MLTO business idea is outstanding...
I have "discovered" MLTO around May 2005, and soon after that got loaded with big position, average price range 1.50-1.90...MM was very difficult to start with, and there were days that I would have to place market buy orders at 500 shares, or less, because MM would fill me like 879 shares on my 1000 market buy order.....
At that point, I was really impressed with MLTO business idea, and even business model ( like pre-IPO trial in Puerto Rico ), and thought they were for real, and only short period of time would be between than and 20 dollars stock price, and plus..., with buyout for "sure" ( possible PLMD, as number one buyer...)
All of this made me big time MLTO "pumper", even one of my friends ( Chris ) had formed MLTO Yahoo group. I was yapping about "best stock ever", till management execution started to suck, and undelivered, and over-inflated promises made me leery....
Is that you who posted about RW ( incl. his mug shots ) on my MLTO blog site, under alias "the ugly truth now"? If that was you, thank you! I had some ideas, but that post convinced me to go and visit MLTO ASAP...
I had some suspicion after stock was pumped to 9 dollars, and after that had steady decline ( thanks to my trading rules I have sold part of may position around 7-8 dollars, although I should have sell all, and convert six digits paper profit to real money, but I was greedy, and I wanted seven digits profit?!!! What a fool! )
After stock price steady decline, I have decided to visit my "best ever company" in Pompano Beach. That was eye opener, while Doubloon, and his side-kick co-moderator, were saying that MLTO is booming, phones were buzzing, and future is "blue sky", all I have found was new building, pretty much looking not many activity around, arm guard in front, and receptionist, and Raymond's secretary telling me that no one was that day available to see me, and no one will be available for the whole week ( after I have mentioned that I will stay in Ft. Lauderdale for a week ). More than anything else telling was clear panic, and fear on their faces....
And at point the real truth hit me on the head, and I went home, and soon after have sold over 70K shares in two days ( 3.30-3.70 range ). As MLTO MM always been "difficult" person, I was sending sell at market price orders every 15 seconds, selling 500 shares lots....You can imagine how long it took me to sell my position, and at one point TD suspended my selling, because I have lost count for how many shares I have sold, and I was trying to sell more than I owned....
This made MM confused, he did not understand what was going on ( he taught probably somebody was trying to drop the price, like shorts attack ), and he was buying all my shares without dropping the price, he even got the price up on the end....I was ready to sell for any price, but MM was holding price up probably been afraid not to trigger lager sell off after more than average daily volume in red...Thank you Mr.MM, that made me to get out with around 20K profit..
As for Doubloon, he is probably not RW himself, but he is very much connected with him, and his Tback Capital. Doubloon himself admitted been involved with some financing deals, and private placement for some of RW penny companies..If I remember correctly Doubloon said, he has continuous pager connection with Tback...I have saved that post, and will re-post it, if anyone interested...He may have sent you that hand-carved box, but I doubt that Doubloon lost any money on MLTO. He is too smart not to see what was going on, and I believe ( although never had a proof ) that he was at the minimum pumping on IH board, and erasing any post that could bring up some evidence about the fraud......So, yes, I could be wrong, but I am convinced that Doubloon was a part of "pump, and dump" action, and he probably sold his position around the pick price...
On the end, moral of the story:
1. never ever trust anyone, but yourself ( thanks Dick for this one )
2. all penny stocks are more than speculative, and many are designed for fraud
3. as soon as you have any reasonable profit with penny stock, get out
4. if the story sounds too good to be true, most likely is not true...
5. three the most important things for any penny stock, or small cap are: management, and management, and management...
6. if you put any serious money in penny stock, or small cap, go and visit them
Good luck, and good health to all of you
Dragan
PS: Zcooler thanks again for your credible posts, objective analysis....I would be very glad, if you accept my already open invitation to join our small closed type investment group....We would like to have one more bright, honest member. If interested send me e-mail at dragan7777777777@yahoo.ca
