Steve: The Air Force didn't decide to sprinkle $1.2 million like fairy dust on MTEY. It gave them a research contract of that amount to work on a project involving turbine engines, for which I would expect the profit, as is usual with such things, to be tiny. MTEY has no right or ability to take the money and, instead of doing work on the project for which it is being paid, sink that into some other venture.
In any event, the MTEY press releases about Antaeus give no indication that the company has any cash whatsoever, unless the CEO is lending it some. MTEY and SIMS are getting their shares for contributing technology, not cash. MTEY is barely alive itself; if SIMS were tossing in a bunch of money, the press release would have said so, and it probably would have gotten a bigger share of the JV than did MTEY.
The $20 figure was in the 10-K. Sorry you don't like the number, but it is there. The March cash figure was higher, around $70,000 after the company's officers lent net about $35,000.
As a matter of principle, I reject the idea that one must call a company to truly understand its filings and press releases. These should be written in a way that people used to speaking normal English will understand them. Otherwise, companies could file one thing, then tell people something else, and evade responsibility later.
As you know, I wouldn't think of doing any serious buying in a stock that doesn't file financial documents with the SEC. That is supposed to happen any day now, I believe? Am looking forward to seeing them. |
