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Replies to post #15283 on Microelectronics Technology Co. (fka MELY)
05/14/14 3:53 PM
05/14/14 3:59 PM
05/14/14 4:05 PM
05/15/14 1:01 PM
The pump effort, however, seems to be having a positive effect of their stock for now. We can't really tell if insiders are paying for the promotions or if it is some investor tired of waiting for the company to start making some actual profit that has decided to dump his stock. The second proposition seems unlikely, so we are guessing that Mr. Brett Everett has adopted the methods of the company's former president Edward Manetta who was listed as the paying 3rd party in previous pumps for the company.
Link > to quote above
MELY NT 10-Q: 5-day extension I'm willing to bet, is due to the intellectual property being counted in for the Q.
05/20/14 3:12 PM
05/21/14 3:09 PM
Direct Capital Group Note #19
On February 28, 2014 the Company entered into a Convertible Promissory Note with Direct Capital Group in the sum of $16,000. The promissory note is unsecured, bears interest at 8% per annum, and matures on September 1, 2014. The Conversion Price shall mean par .00001 multiplied by the number of Common Stock converted at the time.
Direct Capital Group Note #20
On March 31, 2014 the Company entered into a Convertible Promissory Note with Direct Capital Group in the sum of $16,000. The promissory note is unsecured, bears interest at 8% per annum, and matures on October 1, 2014. The Conversion Price shall mean par .00001 multiplied by the number of Common Stock converted at the time.
On May 15, 2014, the Company entered into an Employment Agreement (the “Agreement”) with Brett Everett (“Mr. Everett”) an individual. Pursuant to the terms and conditions of the Agreement, Mr. Everett shall serve as the Corporation’s President and Chief Executive Officer and shall assume such other positions as reasonable requested by the Board of Directors, commencing on May 15, 2014 for a term of one (1) year, During the term of this agreement termination can be done by giving one month’s written notice of termination or at the discretion of the Company, payment in lieu of notice (based on the Contract Rate, as defined below, for one month), or some combination thereof.. In exchange for his services, Mr. Everett shall receive a monthly salary of Three Thousand Dollars ($3,000) which may be converted into shares of the Company’s common stock, at the sole discretion of the Company, per the terms and conditions of the Agreement. Mr. Everett will also receive a Five Thousand Five Hundred Dollar ($5,500) signing bonus for agreeing to the contract with the Company.
