annaclarke-
AXGJ filed a financial report for FY06 - shows some $800k+ in revs - where did that come from, if not from IBT?
As to the stock's performance - MANY pinkies flood the market with shares for money - the difference is where the money goes, right. Some companies print shares for consultants, some print shares to pay the rent and to bring their product to market.
Their vision, like many pinkies, seems compelling enough (although rebuilding tsunami wrecked villages in Sri Lanka wouldn't strike me as the motherlode moneymaker - certainly altruistic enough!). I also see that Mr. Flannery did a 50:1 RS on AXGJ last April, and the OS hasn't been updated since. He has also been busy at the helm of the following companies:
International Building Technologies - 450M AS
Titan Energy Development, International - Default 4/07
Centrex Technologies - Default
Axia Group - Default
Enhanced Information Services - Revoked
Axia Building Technologies - 2M AS
Titan Energy Worldwide - 1.9B AS
I am sure you can appreciate the bitter irony at work here - shares of MSEM are being given as a dividend to another company's shareholders, when shareholders here were told by the former CEO that we'd get a 1:1 dividend in a spin-off that was as fictional as the rest of his business plan.
If you're still a shareholder in AXGJ, and get your MSEM shares - consider yourself lucky indeed (and sell them right away!)
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