Replies to post #20189 on Microelectronics Technology Co. (fka MELY)

[jeks108]

MELY addressed A/S. Move on. We'll all be chasing MELY if we're not careful. Once we see how much bitcoin MELY is making and MELY's 3rd quarter financials we will all be wanting more and wishing we sold less.

[makeithappen]

Lets clear up the reason for raising the AS.
The company raised the AS in order to maintain control of the company. They did this because the OS is 1,067,252,449 and the previous AS was 2.5 billion which did not cover the 1.5 billion that is held in reserve to purchase the 100 servers.
This 1.5 billion shares are not free trading shares or even available shares at this time, they are simply reserved shares as is the deed to ones house until it is paid off.
Yes some shares may eventually become part of the OS, but not for at least 6 months and any shares that do not will be canceled according to the PR.
To maintain control of the company the AS was raised so that the company still had control of 2/3 of the common in case of a potential take over.
Yes 7.5 billion is a lot, but there are still only just over 1 billion OS and I believe just over 600 million float at this point. Stating anything otherwise is simply using scare tactics to further ones agenda. IMHO GL

From yesterdays PR: "The Company shall issue irrevocable transfer agent instructions reserving 1,500,000,000 shares of its Common Stock for conversions under this Note and another note being issued on the same date herewith (the "Share Reserve"). The reserve shall be replenished as needed to allow for conversions of this Note. Upon full conversion of this Note, the any shares remaining in the Share Reserve shall be cancelled."