Cornell Financing and other ???'s
MLXO did a 3:1 split around 11/11/04 (from charts). As expected, the pps and volume shot up after the 3:1 split was noted in SEC filing of 10/18/2004 Then immediately after the split, volume drops. Why???? One would think that after a split, new shares might be sold off. Yet volume drops to practically nothing. The pps drops some, but comes right back and doesn't start it's death drop until around 12/10. Why did it start it's death drop then? Hmmm, filing shows deal w/ Cornell occurred in Nov. Coincidence? Does anyone know what the terms of that deal are? I haven't found the SEDA filing yet, just the note below from their FORM 10-QSB of last October. Unfortunately, how do we know how much Cornell has "bought" or shorted and if MLXO can stop them from any additional shorting?
TIA,
Dino
NOTE 13 CORNELL EQUITY LINE
In November 2004, the Company signed a Standby Equity Distribution Agreement with Cornell Capital Partners, LP ("Cornell") whereby Cornell has agreed to purchase, during the next 2 years, up to $10,000,000 of the Company's common stock pursuant to the terms and conditions of the Standby Equity Distribution Agreement.
TIA for any and all thoughts on this.
Dino
