Bike : MMUH revenue in the last Q was $7K ! With such a low revenue, MMUH needs to contiue to raise cash just to survive !
Payment of Attorneys, Pinksheets, TA, CPA etc.
And then what about Jenkins / Lovatt compensation. they don't live on thin air !!
And then what about cash needed to make their company grow ??
Cancelling the officers shares for Pref Shares is NOT a good sign ! That probably means IMHO, that the company in 2011 will be doing a R /S .
Reducing the AS means ZERO.
Read his letter : He is alluding to the R /S.. I have marked the points in BOLD
[url]"We are currently focusing all efforts on increasing the value of the share price, for shareholders. The price is
regrettably low currently, although we are seeing increasing Market Maker bids and the price is rising above the
0.0001 stage regularly.
It is time, we believe, to take a significant step in the Cap Structure and both reduce the Authorized Share
Capital and ask each of the officers to return their portion of the 1,700,000,000 Common Stock holding to the
treasury. We aim to show the shareholder base that we are serious about adding value and, whilst we all accept
that some considered finance needs to be raised over the coming quarter, serious dilution is not the answer. The
details of this will be announced over the coming weeks."[/url][tag]insert-text-here[/tag]
Once they do a R/S they will have plenty of ammunition to raise new money , as the OS will be small and the AS will still be about 3 Billion
By the way: Lovatt other company CLDR is following the same process with the cancellation of shares etc.
I see 2011, for any bagholders in MMUH a wipeout
GLTY
