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MCUJF has alot of baggage. They took out

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David Gerkin Member Profile
 
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David Gerkin   Monday, 04/29/13 02:50:36 PM
Re: None
Post # of 1310 
MCUJF has alot of baggage. They took out a $5mm loan in order to resolve the Birmingham debt settlement; principal w/interest payments due in 2014. Birmingham is seriously underwater with the shares they took as part of the settlement; especially with the "share consolidation." Now, with the cash levels at historic lows and their inability to turn a profit...this company is experiencing another event that questions their ability to survive.

No trial updates, dwindling cash reserves, nothing expected..i am kicking myself when they released the news of the debt settlement when shares hit $0.07-$0.08.

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