"I don't know why everyone was so down on this stock."
Could it be that CEO Alexander drove his other hot air balloon, EFIR, to 19 billion shares? And now he's promoting the same property for MNVN, that failed so miserably for EFIR?
Maybe it's because he lied to his shareholders about the re-work production for his one well. He reported Sept 2012 production of 1700 bbls, to his shareholders and 1100 bbls to the Texas Railroad Commission. By Feb production was below 50 bbls. About 1/3 bbl/day to MNVN. Alexander has not reported production since Sept.
I know how pink "investing" works. Most of it is Hot Air. Money can be made on Hot Air. A good rule to follow is to never actually believe a pink story. But pick a story the sounds believable.
It's hard to blow enough hot air into a balloon that is as full of holes as MNVN.
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