I'm going by the information that mgt. has provided. Granted, that information was given to one investor who had the cell number of one of the members of the mgt. team, but that's all the information that we have to go by. When mgt. leaves an information vacuum, it will get filled, often with information that is not correct. However, the fault lies with mgt., not investors who are trying to make sense of mgt's utter disregard and/or cluelessness regarding shareholders' concerns.
However, playing along, let's assume you are correct and that mgt. cannot access the LOC to pay for a staff flunky. Mgt. supposedly made arrangements w/ an IR firm but did not like the results and terminated the arrangement. If they were not paying the IR firm cash, they most likely had an arrangement of restricted shares for services. Of course, we don't know the exact share structure even though Michelex is a publicly traded company b/c the TA is gagged; another example of utter disregard for shareholders. So let's assume that MLXO doesn't have any cash (at least not enough to pay for a working phone line...okay, they probably have enough cash for that but they apparently consider the cost of a working phone line an unnecessary expense! Besides, if they have a working phone line they might actually have to communicate w/ investors!) and that they don't have any restricted shares that they can use in exchange for IR services. The mgt. team doesn't have anyone on staff at their various companies who can take an hour or two per week to post updates on the company website? Better yet, Kakani doesn't have an hour or two per week to write the updates so he can directly communicate w/ existing shareholders and potential shareholders and keep them informed of what in heck is going on?
So, once again, it all comes down to mgt. not giving one whit about keeping investors informed about what is, or is not, happening. Given their utter disregard for shareholder concerns, how can shareholders have any confidence that mgt. will treat investors any better when it comes to issues of dilution, Reverse Splits, etc.?
AI
