kenco, Are you a shareholder of MLXO? I notice you just started posting on this board yesterday, are you familiar with any of the history here? When I said I won't take the CEO's word for confirmation anymore, I meant "STARTING NOW" THE DAY I POSTED IT.
You see I have been in this stock for 3 years now and have moderated this thread since then also. I have had so many conversations with Tom G (CEO) that I lost count years ago. Way back in Feb. 2005 when Cornell Capital was beating the crap out of this stock, I was studying "TOXIC FINANCING" at the time, and the first few conversations I had with Tom, My first questions were to see if he knew what was happening to his stock? Why it kept dropping day after day from the .30's down to the single digit's in a few months time? Tom G had no idea what was happening to the stock, he was extremely stressed out and perplexed trying to figure out what was wrong. I explained to him what Cornell was doing to the stock, I sent him several pages explaining Toxic Financing, and the strategies used by Hedge Funds like Cornell Capital. I told him also; "DON'T TAKE MY WORD FOR IT, TAKE WHAT I SENT YOU TO YOUR ATTORNEY OR BROKER AND HEAR IT FROM THEM". To make a long story short, he did that and FREAKED RIGHT OUT WHEN HE FOUND OUT WHAT CORNELL WAS DOING!!! It was like someone turned on the light for him and he could see what was happening, and only a few days later he told me that he was done with Cornell, he was paying off what he did borrow and was not borrowing anymore from them, and was breaking off from the $10 Million dollar SEDA (Standby Equity Dist. Agreement), he had signed. Thats when I started buying stock in the company, was when he made the decision to dump Cornell.
Now, it was obvious to me that the guy was not very experienced running a "PUBLIC" company, Michelex was "PRIVATE" from the start in 1972 until 2003 when they bought a shell, and they had 28 years reporting a profit prior to going public, so the guy knows what hes doing under "PRIVATE" rules. But ever since he went public, he has constantly fumbled the ball, time after time, and had made so many promises that he failed to keep it's not funny. Myself, and several other Longs here like Threeflight, (several others I won't name since we are no longer friends), but back in the Spring/Summer of 2006, we brought a ton of investors into the stock, I know in May 2006 the shareholder count was almost 900, and Tom G had everyone all hyped up with all kinds of things he promised us.
1. PR; April 2006, "REDUCTION OF AUTHORIZED SHARES FROM 1 BILLION TO 200 MILLION.
2. PR; RELISTING ON OTCBB BY SEPT. 2006
3.MERGER WITH "XNL" AND ACQUISITION OF AG PRO WITHIN A FEW WEEKS! (TOLD US THIS IN MID-JULY 2006).
4. PROMISED COUNTLESS NUMBERS OF SHAREHOLDERS ON THE PHONE THAT WE WOULD HAVE "NO DILUTION"
Well, the XNL Deal fell apart, there was no Reduction of the A/S, No relisting on the OTCBB, and they diluted us with approx. 15-16 MILLION shares in the fall of 2006, all Spring & Summer 2006 we had an average of .06-.09, and thats where most of the people we brought in bought in at, some got lucky and got some .03's-.05's, but the 15 Million new shares dropped our average from .06 down to .03, which we stayed at for months until Cornell started getting shares in Feb. 2007 and shorted the box bringing us down to the .01's .015-average, until the PR's this past summer!!!!!!!!
August 2007 we saw;
A SECOND PR; "REDUCING THE AUTHORIZED SHARES FROM 1 BILLION DOWN TO 500 MILLION, (NOT 200 LIKE PROMISED A YEAR BEFORE), AND A 15 DAY AND A 45 DAY TIMELINE FOR GETTING A $15 MILLION DOLLAR LOAN TO ACQUIRE AG PRO AND TWO OTHER CRUSHING PLANTS!!! Well here we are 6 months later and STILL NOTHING HAS HAPPENED! NOT EVEN AN EXPLANATION, AND ANOTHER REG-DEX PRIVATE PLACEMENT (MORE DILUTION) FOR $500,000.00 IN SEPT. 2007. Now we are down to the .002's and IMO, Cornell has Michelex right where they want it, the Micro-subs .0001-.0009 are not very far away, and thats where they would love to cover their shorts, and now they have 15-20 MILLION shares becoming UNRESTRICTED, FREE TRADING, Starting Yesterday thru April, all those shares to sell after they cover.
THATS WHY STARTING THIS WEEK, I WILL NO LONGER RELY ON TOM G FOR VALID INFO, I WANT ANYTHING HE SAYS NOW VERIFIED BY OUTSIDE SOURCES, Do you understand now?????????????????????????
