TMaga,
I bought my WPWR shares 4 yrs. ago and like many long term holders at the higher PPS. I originally bought in at 51 cents and saw it go to 81 cents then going down to 10 cents then back to 29 cents then down. I kept averaging down with picking up millions of shares. My PPS breakeven is .001.
It appears as though this was an elaborate smoke and mirrors from the beginning.
I think that they saw an opportunity with gas flaring such a big world problem and a univ. Prof. with some theories/designs of which to tout as a commercial cure for the multi-billion dollar worldwide environmental problem. The webcast was convincing.
ME Resources took the MRI tech. to numerous forums, conferences and World Bank environment conferences. It all looked good. For some reason the Pres. of MER took my calls. I think that others had contact with Chand. He always had answers/excuses for the slow MRI development. I put heat on him many times about the fact that MER was in violation of the WPWR contract and should rewrite as a sign of good faith. I even tried to arrange for a NY Investment Banker ( a personal friend and straight shooter ) who I know personally to help find the 2 or 3 million $'s for the MRI dev. but lots of talk and no real interest. I started smelling a dead fish.
Dan also accepted my calls as well as others. Always polite and with another story about the delays of the MRI's. Waiting for a major component from Germany, etc. The whole time the two companies attending and presenting the MRI tech at many Canadian sponsored conferences dealing with gas flaring. In subsequent research, i have found out that a lot of pump and dump co's originate in Vancouver, BC. Very smooth operators. I have owned many business's in my life and i did not want to lose my investment or see the other longs lose. As I have said in the past, Many companies w/o revenue issue Safe Harbour PR's to inform shareholders and drive the stock. I think that you have done your DD and come up empty handed. In any case, Chand in Vancouver has not answered my calls for over one yr. Dan, sometimes answers my calls. His latest info is that Development is going along w/o Chand and MER even though they supposedly acquired the patents. More smoke and mirrors I presume. I explained very clearly that Chand and MER most likely had no intention to develop the technology but to just suck off profits on the run from .005 to 81 cents. I told Dan, we only care at this stage for a run so we can get out with a BE. I want to apologize to all if they felt that I touted the stock for my personal gain. I am taking the hose pipe now along with others. I believed the technology as valid. I am still hoping for a run and then to pull the trade trigger. I could have sold for a long term loss . TMaga, you may be correct about the Canadian govt. not investigating MER stock but WPWR was US traded on our exchange. As you noted, the tech. works in Texas but it is not mobile. I have not stopped trying to get more info. in the form of PR's to bump the stock in a run. I think that others had access to Chand and Dan as well. Maybe they can fill in the gaps with their own conversations. I always could not understand why big oil did not partner with MER or WPWR , maybe now I know why , their DD people saw a blank sheet of paper. If we don't get a run soon, I think a SEC call to investigate.
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