Hi All! The Q is out and now all have the opportunity to read and review all that is in it. Interesting that the number of pages is less than anticipated and fewer than told - one wonders why?
Investors may realize the lawsuit is not yet settled, and although described as frivolous and without merit by William, it still must be counted in any calculation regarding corporate plans. I suggest that much could be posted in regard to these plans, but such cannot be stated officially without concluding the lawsuit. After all, a settlement may likely depend on current share value, and in this case, the less the better. While the plaintiffs may benefit from purchases at this level, they too must be careful fore their buys may be evidence of their own intent and therefore used against them.
So, what can we conclude from the filing?
The 10Q was on time - how many really expected the filing on time? An on time filing may portend well for the future of the company - why would this be important for them? Perhaps up listing is anticipated at some point in the future?
MMTE spent the last quarter working with a large international, institutional fund that is involved in financing our assets (concessions). This answers the questions of so many who have asked just how William could purchase the concessions. These large international, institutional investors have requested to remain anonymous, and the company and management intend to respect their wishes. Hence, this information could not be published in the Q at this time. They are not a major shareholder and the company has an ongoing relationship for financing - wonderful. This also leaves the door open for share ownership or partnership in the future. MMTE also looks forward to continue working with this "fund" on increasing asset and shareholder value while continuing to look for more assets and partnerships - interesting, and very exciting that this fund would have such interest.
Production is expected to commence by the end of this year or maybe early next year - very unexpected, and much sooner than anticipated - a huge development. Remember many were posting that MMTE was years away from production.
MMTE intends to continue the acquisition of more land in Chile and Argentina. I suggest that Argentina is the next phase while current negotiations roll up the remaining concessions in Chile - perhaps Bolivia after that?
Over $100,000 has been invested in promotion. Since we have seen no evidence of promotion, we must assume this hasn't started yet, and is something we can look forward to. The question is when? I suggest, as soon as the lawsuit is settled - a very opportune time for them as well as for investors.
This filing indicates that a fund appears to like MMTE's plan for development, and is willing to put cash on the line because they feel it has a good chance to succeed. The fact that they wish to remain anonymous would seem to indicate that once their name is revealed the price of concessions may increase in value, or the value of MMTE shares might dramatically increase. This portends well for investors. Who this fund is, and what they are involved in make this an exciting development indeed.
The company has no plans for a reverse split, and any investors who have questions regarding this issue should call Brian or William for clarification.
No joint ventures have been hampered by the law suit. Perhaps this is true, but the release of such news would not be beneficial to MMTE or its investors while the lawsuit is still active and settlement pending. Once again, a good reason for the shortened filing.
William was issued one billion shares which are likely to be restricted for a full year based on typical pink sheet share issuances - we now can say that William does in fact have a vested interest in the success of the company.
Also, from our last telephone conference call, we learned that there are two groups from Canada working closing with William on developing the company. This filing indicates that one is a large international, institutional fund - the other is still a question, but we were told they would fund the production build out - very interesting and revealing.
Kgem
