Replies to post #101337 on Micro Imaging Technology Inc (MMTC)

[Dan321]

I was not privy to inside information. I had no idea what he was talking about or to who until a year later when I figured out it was R. Pett. .39% discount to an unaffiliated lender for 117,500. Doesn't sound like an insider to me. Where does it say all insiders for every loan deal ever made? Looks like one lender to me.

[Top Penny]

MMTC ~ It is not reported to the SEC in MMTC financials that all insiders get a 39% discount when buying MMTC stock. As a matter of fact in the most recent 10Q the only thing mentioned about a 39% discount is the following...

Between July 18, 2013 and January 9, 2014, the Company entered into three new Securities Purchase Agreements with the lender, for total proceeds of $117,500, and paid a total of $7,500 out of the proceeds of the notes to lender for legal fees and expenses related to the referenced agreements. The notes mature between April 22, 2014 and October 13, 2014 and are convertible into shares of common stock at a discount of 39% of the average of the lowest three closing bid prices of the common stock during the ten trading days prior to the conversion date.