We may all experience heavy losses with MTIZ. It's a real gamble in penny land. I try not to let my emotions dictate venting on chat boards. As an investor I have done all I know to do in researching this company. I plan on visiting the Laredo office in December and the Mexico plant after that if all goes well. I have been an offset press operator and understand the printing business very well. Currently I run a million dollar a month company and work in over 40 countries. Everyone should do their own DD before they invest. Here's a historic overview from a cached page of their old website;
While Aclor, Inc. was founded in 2007 to acquire Apego, Inc. (Apego) on March 20, 2008, the foundation and history of the Company and principals dates back to 1967. Mr. Forth Wu established a stationary plant in Taiwan in 1967 producing the first stationary planner sold into the world market. Curtis Gung knew Mr. Wu, and in 1996 joined Mr. Wus company as partner to direct the marketing and sales of the Companys products. In 1998, Curtis formed Apego, Inc. in the United States for Mr. Wu, to sell and market planners, binders, and other stationary products in the U.S., which was 100% owned by Tayun Co., Mr. Wus Taiwanese company.
In 2000, Apego, Inc. hired a U.S. based management team to manage operations of Apego, Inc., as Curtis was based in Taiwan. Curtis in 2005 discovered mismanagement and fraud by the management team, and moved to United States to take over the management and operations of Apego. Curtis invested $400,000 into the business and conveyed a $1.5M Atlanta, Georgia office building to Apego so it could be used as collateral for a Wachovia line of credit in return for 30% ownership in the business. This same year, the Companys customers requested Apego to supply paper products, since anti dumping legislation was passed against Chinese produced paper products. Apego issued 30% ownership to Mr. He, whom had the largest paper converting business in China, in return for the equipment and management support for its plant in Taiwan, to supply its customers paper products demand. Curtis was able to turnApego, Inc. around, obtaining 15 national accounts and increasing its sales to $29 million by 2007 with a combination of planners, binders, and paper products.
The Partners formed Aclor, Inc., to purchase the assets of Apego, Inc., and set up a manufacturing plant in Nuevo Laredo, Mexico. Curtis realized this would create a sustainable competitive advantage over its competitors, as it would dramatically reduce shipping cost and support just in time delivery. ACLOR was to focus on the consumer and office paper supply demand, increasing its capacity to $20 million in 2009, but quickly grew within this market to capacity.
The Companys headquarters are in Atlanta, Georgia, and has an office in Laredo, Texas, and through its subsidiary, Aclor Servicios Administrativos, S. de R.L., a manufacturing plant and office in Nuevo Laredo, Tamaulipas, Mexico.
ACLOR is an established company within the office supply and paper industry with over $20 million in revenue and $1.4 million in EBITDA for 2009, and will do over $50 million in revenue and roughly $6 million in EBITDA for 2011. This foundation enables the Company to have the sustainability to focus on driving revenue growth through additional customer acquisition. Furthermore, the Company should enjoy economies of scale, since much of the incremental gross profit comes with minimal additional operating costs, therefore, reaping the rewards of significant operating leverage.
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