Our good friend, GM2807, is raising excellent points, and he/she is quite right.
First, when a company actually “puts” shares in a Dutchess-like deal they must file a FORM 8-K advising shareholders of the amounts, especially the new shares outstanding after the transactions. This is an example from one of Viking’s 8-K’s on their sales to Dutchess:
In a series of transactions from March 2, 2010 through April 29, 2010, the Company sold a total of 4,398,050 shares to the Investor [Dutchess] under the Investment Agreement for aggregate proceeds of $934,897. As of April 30, 2010, the Company’s total shares of common stock outstanding is 50,554,815.
MMTC will have to do the same, but to date they have not. So they have not yet availed themselves of the recently SEC-approved ability to put shares to Dutchess. Whatever strategic thinking is involved here I cannot say, but rest assured MMTC is strategically weighing their options in light of market trading, timing of capital required, and dilution.
Also, GM2807 points out that Mr Brennan stopped exercising his option to purchase 50,000 shares per month under his consulting arrangement with the company. He has done this religiously for two and one-half years, until May, 2010, but for June, July and August he has abruptly ceased acquiring shares under the consulting arrangement.
So, given the above, I have two more questions to add to the roster:
(1) Can you share your strategy on the timing and magnitude of upcoming Dutchess “puts”?
(2) Mr. Brennan, you have been acquiring 50,000 shares every month, without fail, since at least December 2007, under your consulting arrangement. In June you stopped. Is there any significance to this abrupt change in management-supportive acquisions of MMTC’s stock?
Market Data 
Markets 
AI
