Micro Imaging Technology Inc (MMTC)

[GM2807]

Securities and Exchange Act of 1934 Section 9 -

It is illegal to manipulate a stock by the spreading of false or misleading information for the purpose of personal gain, for example to spread misleading information for the purpose to weaken the share price and induce others into selling.

http://www.sec.gov/about/laws/sea34.pdf

PROHIBITION AGAINST MANIPULATION OF SECURITY PRICES


Quote:SEC. 9. (a)

It shall be unlawful for any person, directly or indi­rectly, by the use of the mails or any means or instrumentality of interstate commerce, or of any facility of any national securities ex­ change, or for any member of a national securities exchange—

(3) If a dealer, broker, security-based swap dealer, major secu­
rity-based swap participant, or other person selling or offering for sale or purchasing or offering to purchase the security, a securitybased swap, or a security-based swap agreement with respect to such security, to induce the purchase or sale of any security other than a government security, any security not so registered, any se­curity-based swap, or any security-based swap agreement with re­spect to such security by the circulation or dissemination in the or­dinary course of business of information to the effect that the price of any such security will or is likely to rise or fall because of mar­ket operations of any 1 or more persons conducted for the purpose of raising or depressing the price of such security.




You have been here for months with the purpose of depressing the stocks price and raising doubt to new investors for the purpose to induce selling of the equity. Now here is a provision you are not going to like...

Quote:Persons liable; suits at law or in equity

Any person who willfully participates in any act or transaction in violation of subsections (a), (b), or (c) of this section, shall be liable to any person who shall purchase or sell any security at a price which was affected by such act or transaction, and the person so injured may sue in law or in equity in any court of competent jurisdiction to recover the damages sustained as a result of any such act or transaction. In any such suit the court may, in its discretion, require an undertaking for the payment of the costs of such suit, and assess reasonable costs, including reasonable attorneys' fees, against either party litigant. Every person who becomes liable to make any payment under this subsection may recover contribution as in cases of contract from any person who, if joined in the original suit, would have been liable to make the same payment. No action shall be maintained to enforce any liability created under this section, unless brought within one year after the discovery of the facts constituting the violation and within three years after such violation.