Replies to post #536 on Multi-Media Tutorial Services Inc (fka MMTS)

[Welsh_Dragon]

Hello Henchman

I am purely playing this on the daily movements. I have no special DD or knowledge, albeit the product seems decent enough. If indeed you have held as long as you say, why?

It could well have been a P&D to move it up to 0.009, however I don't see the volume dump yet. Volume is back to practically nothing again. I have not lost money here (at break even or close to it).

How many do you hold again? Did you average at the 0.0011s?

I continue to watch L2 with interest..

Cheers

[EastCoastCdn]

I did get in Contact with the Registered Agent listed on the Delaware SOS website. She did say the company was void in 2006.
There are some (IRS leans???) also located on the NY SOS state. They appear unpaid however I am not sure if they report when the taxes have been collected.

[learner1156]

I don’t think this started as a pump and dump. I think the initial volume some weeks ago is what got people’s interest.
Here is information IMO (can’t call them facts on this forum):

First: Zecco / Penson will not allow MMTS trade amounts (number of shares) greater than 10% of the average volume of the preceding 20 days. This was based on an illiquid security rule / regulation / whatever.

Second: Someone with a Zecco account opened another account at another broker, with intentions of transferring MMTS stock to the new broker. Unfortunately, while the new broker does not apply the illiquid rule as far as number of trades, the new broker will not allow penny stocks to be transferred in.

Third: Someone then decided to move the shares a few at a time by selling in batches from Zecco, and buying in large amounts at the new broker. This was quite expensive in terms of commissions (much more so on the Zecco side LOL). However, that was still preferable to holding shares that could never be sold otherwise.

Fourth: This plan failed because after awhile, other people got involved in buying and selling. I guess they thought something of note was happening. I say failed because someone ended up selling all shares (as opposed to transferring), because the bid kept moving up, and based on history, someone felt this opportunity might not appear again for a long time, if ever.

Fifth: It wasn’t until a day or so later that posters appeared on the MMTS board with encouraging comments about the stock (some folks are unkind enough to say pump and dump).