purlieu; OK heres the scoop, back in Oct. 2004 an investment banker was advising Michelex, this Idiot was the one who hooked Michelex up with Cornell, at that time according to Tom G., he had no idea what Cornell would do to the Michelex Stock, and he was unaware of their reputation. Michelex signed a SEDA with Cornell, (Standby Equity Distribution Agreement), I think it was for $10 Mil, That means anytime Michelex needs cash, Cornell would cough it up. Back in March-April when I first began speaking with Tom G., after he found out what was happening to Michelex stock from Cornell selling and short selling, he told me that; "They were not going to draw any funds from Cornell and were seeking alternate financing", ALL OF THE ABOVE ARE TRUE, BUT WHAT HE FAILED TO MENTION, AND I DIDN'T KNOW AT THE TIME I POSTED THAT POST, WAS THAT MICHELEX DID A $1 MIL PRIVATE PLACEMENT WITH CORNELL BACK IN OCT.!!! I just recently found this out, I knew about the Private Placement from reading the SEC summaries but I was unaware that the Private Placement was to Cornell Capital and was for $1 Mil, I was just recently informed of this by "speedmasters", I believe he posted it a couple weeks ago, but I spoke with speedmasters on the phone a couple weeks ago and found this out. He found out from confronting Tom G. a couple weeks ago about the Private Placement and who it was with. I thought most everyone who has been on this thread new about that, I am going to put a write-up in the I-Box with the facts we know about the Cornell Deal so everyone can read it.
