Replies to post #3080 on Matech Corp. (fka MTCH)

[bloodhound99]

yeah dben tell joal about the company, when the patents expire or have expired, history of company including the 1000-1 Reverse split in 2003, 300-1 reverse split in 2006 and the 1000-1 reverse split in 2008.

We know they lied about filing 10K on 4-15-2010 and we never heard from company about debt resolution of Palisades debts due against all assets of compoany 12-31-2009. (although the severe dilutuion of 100's of millions of shares since then certainly gives us a clue doesn't it. Better to convert and dump as much of that debt at a 300% profit than hold onto it while the company fails, isn't that right?)they also never mentioned a change in their home office or the exit of Bob Bernstein c0-Chairman and C0-Ceo.(so maybe those things didn't happen)

yeah this one's a winner.

thats why its on pink sheets at $.0015 and only Cataldo and his lackeys are left. I wonder if he will pull a VOIC and abandon this company too.

PSST Dead Cat Bounce in the Derby its a sure thing at 1000-1.
gotta pay its room and board.

seems like just last month that one of the longs was predicting a rise to $.05. I believe it was just last month. he sold out $.0036 and left however. (betcha few others wish they had too)

[voipy mcvoipster]

joal, why ask the least knowledgeable person for help?

dben and his friends know as much as you.

You could read the SEC filings and that would tell you everything.

If you took the time to read the last 200 or so posts (yeah, it'll take a long time... so what) you'd know even more.

But I'll be nice and summarize. Matech has been in business since 1983. They've never made a profit.

They are in the bridge inspection business, but since about the mid-2000s, they got into the business of developing and selling systems for monitoring stress and fatigue on metal structures.

They have 2 products: the first is the fatigue fuse. It's primarily used on heavy equipment. Fatigue fuses are nothing special and very common. Matech has no advantage in that product. The second is the one that brings everyone here, it's the very product that MTCH touts as their holy grail. That's the bridge monitoring system, the EFS.

MTCH did not develop EFS. It was developed at the University of South Carolina in the early 1990's. Somehow, the patent came into the possession of UTEK, a private investment group that specializes in patent holding. UTEK, for some reason, traded the patent to MTCH for MTCH stock, I think around 2004-2005. We don't know the reason why. I'd guess after so many years of this patent floating around and coming close to expiring, they decided to let someone else try and market it.

In my opinion, the EFS is outdated and will be obsolete soon.

In 2009, MTCH came under the control of Tony Cataldo, who was forced on the company by their primary creditor, Palisades Capital LLC. Palisades is in the business of lending to distressed companies and taking over their stock should they fail to repay.

Palisades then uses company resources to buy and sell stock in blocks to various brokerages and boiler room operations. They make the market, and push the PRs so the stock sells.

They aren't interested in EFS. They aren't interested in MTCH. They aren't interested in shareholders. They just want their money back plus profit, and they do it by converting the debt to equity by selling more stock. They squeeze the value out of this company like a juice orange, and discard the remains when no more value can be extracted. This company was already dying before Palisades came into the picture, Palisades' involvement just artificially prolonged the life of MTCH.

Because they are the primary lenders - they made themselves bondholders - when the company goes belly up and the creditors line up to get their share, Tony Cataldo and his friends get paid first before everyone else. It's a very shady operation that skirts legality.