My take is, that with all the activity of November (MDA equity financing, conversion of all outstanding convertible notes, obligations and shares for services), including the board approval of the RS on November 20, that plans were likely to be communicated or PR'ed.
The kicker, was that the December 7 market reaction to one Form 3 filing caught most folks (myself included)and the company(IMHO) by surprise. I'd like to understand rationale for how this was going to hit .10, .20 .30 or more when in early November the wheels were already in motion to account for and manage the 3.5 billion shares fully diluted that was coming down the pike. This is what triggered the hype and s/p movement, how could the company or any shareholder anticipate this was going to happen that particular day? So was it a sneak attack or . . .
Just my opinion here, is that it caused a knee jerk, poorly executed reaction by the company, on the following Monday resulting in the 8K FS then amended 8K RS announcement. I have already conveyed my dissatisfaction, frustration and anger to the CEO on the timing, execution and overall insensitivity to the retail investor based on MTVO the stock. I am conflicted because I also want MTVO the company to succeed.
MTVO the company does need this deal, it was not the first deal but was likely the best, most viable deal available at this point in time. For most of us who have been here for over two years we want both the stock and the company to succeed. Anyone who's paid attention and done their DD over this time frame has felt the pain of the inability to land viable financing, despite much effort and time.
For some to say they sold out due to a lack of effort to land better financing is not true or accurate. The reality is Montavo has not sold nor did it plan to sell shares into the market. The reality is that Montavo had been offered various financing options all of which were considered death spiral finance deals. The reality is Montavo sought financing through investment bankers who sent packets to all current shareholders in September of 2010, how many here responded? The reality is that Montavo was seeking financing during one of the most challenging times in the history of the markets. The reality is MTVO the stock and company don't always move or gel in tandem, thus the conflict.
All IMHO.
