Michelex Corp (fka MLXO)

[sawdin]

Thus some legitimate questions are:

1) Was the purchase of Hindsight good for non-Gramuglia MLXO stockholders? Obviously, the purchase in effect transferred $800K and 100,000 shares from MLXO to Gramuglia's wife (or ex-wife, in effect to Gramuglia himself as he was the real owner) and MLXO also become responsible for "all of Hindsight's obligations under Hindsight's 5% secured convertible debentures due December 29, 2006 having an aggregate principal balance of $1,000,000" thus transferring those responsiblilities from Gramuglia personally to MLXO and it's stockholders. I'm not saying he did anything illegal, immoral or sleazy, I just wish I knew more about the value of the transaction in terms of my own selfish interest as a stockholder.

http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001013762%252D05...


In consideration for the Hindsight Stock, the Registrant delivered to Seller a promissory note for $800,000 (the "Note") and 100,000 shares of Registrant's common stock. In addition, the registrant assumed all of Hindsight's obligations under Hindsight's 5% secured convertible debentures due December 29, 2006 having an aggregate principal balance of $1,000,000