Replies to post #25503 on Micro Imaging Technology Inc (MMTC)

[thehawk72]

Marketwire, ihub, pretty much anywhere. Look at the top of the news on ihub on MMTC's page.

They filed a proxy statement (preliminary) for a shareholders meeting at the end of September. At that meeting two items are to be voted on.

There's no guarantee that the proxy will be declared effective in time to have the meeting in September.

[StrengthenNumbers]

It is the 2nd proposal for the September 30 shareholder meeting...






And you can find it right here:

http://ih.advfn.com/p.php?pid=nmona&article=48957759

PROPOSAL NO. 2

APPROVAL OF AN AMENDMENT TO THE COMPANY’S ARTICLES OF INCORPORATION INCREASING ITS TOTAL NUMBER OF AUTHORIZED SHARES TO 2,500,000,000

"...The Board of Directors, therefore, proposes an increase to the number of authorized shares of common stock from 500,000,000 to 2,500,000,000".

And the same inside ownership touted here may ensure that they get their 400% A/S increase. There might be a perfectly good reason for this, maybe a great reason, but those who sell fear and buy shorts will love the uncertainty this proposal will bring between now and the meeting. It's easy to tell the oft-repeated tale of many penny-stock CEO's, who meet a surgically-enhanced cocktail waitress in Vegas and start selling shares faster than you can say sugar-daddy.

Until the company speaks about what's in the can, the proposal can't be seen as good news.