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The extra 10-12g filing by MTRE was done

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Brookwinn Member Profile
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Brookwinn   Thursday, 07/24/08 01:13:47 AM
Re: creede post# 237
Post # of 1450 
The extra 10-12g filing by MTRE was done at FINRA's request. They were asked to satisfy a number of things in the tedious process of seeking approvals and the 10-12g filing was one of those.

By the way, the float on MTRE is very thin - only 2,297,873 and the estimate of those familiar with the company is that about 65-75% of those are tightly held by "longs" (I am one of those with a substantial position).

Share Structure (post-split, per 10QSB for Q1CY08)
AS 150M
OS 9,990,750
Float 2,297,873 (6 officers/directors own 6,951,141restrictedshares, per "144" stipulations, affiliates own an additional 741,736 shares which are also "144" resticted shares)

Following the RS in April the share price has held up not too badly, but the lengthy process of getting the filings done in order to get approved for uplisting and to register the spin-off and to close the acquisitions that have been pending have stretched the patience of some so there has been a trickle of shares selling at the bid for the past couple of months - usually picked up quickly by a "long".

During the past week there has been a larger shareholder finding himself suddenly in need of cash and regretfully needing to liquidate shareholdings; that has created a bit of a spike in daily volume and dropped the share price in a bit of a "fire sale", if you like.
We think that unique situation will soon be over and that the share price will quickly return to higher levels. This is a rare opportunity, IMO (I realize that has been said by many people in many places, but I have never seen a transparent, beneficial play like this in pennyland realms, and for a brief time available at bargain prices). What else can I say -- do your DD; it's a gem! JMHO.



I am on the cheapie plan, so can't PM. Please use email: lion@ldj.net
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