I considered the company’s press release today as a positive for shareholders. If investors were expecting the company to sell hundreds of Rapid Microbial Identification (RMI) systems or more in the very near term, expectations were too high for these investors. I believe the company’s goal is to get dozens of units into the marketplace so that the user community can evaluate the efficiency of the RMI system and the savings that their operations can have by changing to this new technology. If this proves successful, then unit shipments in greater quantity will happen.
Speaking of high investor expectations, I came across InfoSpi, Inc. (ISPI.PK), a blank check (shell) company earlier this month and was watching it (I have no investment in it). There was a private large quantity share sale to an individual last month at an above market price. The stock price started to move higher last week and today is up significantly (high of about 3¢). Previously, the stock has been in a three-month range of 0.4¢ to 0.6¢. The company has not yet announced its business intentions - go figure! Most new ISPI.PK investors will likely be disappointed. I think that an investment in MMTC.OB would better serve their goal of earning a great return on investment.
I do believe that MMTC.OB will succeed for shareholders and I am willing to wait for that expected outcome. Once RMI systems ship to customers, I expect the share price to move upward. From reading the press release today, it seems that Dutchess Capital LLC equity line is on hold. It will be interesting to see how the numerous announced private placement transactions have been priced. Asher Enterprises have been doing financing with many microcap companies of late. Investors will see this detail in less than two weeks with the filing of the company’s 10-K. My biggest concern is that the company’s difficulty in getting reasonable financing to fund the business plan.
