$MVTG update: There is a 10-Q update just out on seeking alpha (a high viability investor site) and of course at the SEC today.
THis bit is very encouraging news in the latest 10-Q
"On August 4, 2015, the Company borrowed $50,000 pursuant to a promissory note. The note was due on September 4, 2015. The note bears interest at 120% per annum prior September 4, 2015, and at 180% per annum after September 4, 2015.
The holder of the note was also granted the rights to buy 100,000 shares of the Company’s common stock at a price of $0.15 per share until August 4, 2017.
During the year ended May 31, 2016, the Company repaid the $50,000 note and $1,200 of accrued interest remains owing. "
Many people were freaked out about the interest rate when that news first hit, and that news was used to scare selling at retail (which worked), but here we see that the note was paid off before it got out of hand.
I remember when we traded at .006? in Dec 2011 at the low and in 2014 the .40/share warrants from years earlier were exercised and MVTG raised $700,000 in cash at .40/share to fund operations and R&D and patent work, about a 6000% increase in the stock price, and the stock hit .75 at that time.
No reason MVTG can not do that again with the right news.
Common China!!!!
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