>From stockman newsletter.
Subject: Re: MTEN
Hi LeRoy,
Actually, lots to report!!! We continue to make excellent progress,
especially with Lobbying efforts. Obviously I cannot go into a lot of
detail, because the last thing we need is to be accused of insider trading.
However, this information is in the public domain. As you know, our goal has
been to move forward with some kind of legislative language that recognizes
the role of the MTI PhotoScreener and the need to expand the usage of the
device. I understand from the lobbying goup (being paid for by Polaroid),
that there is a willingness in Government circles to include language
relating to PhotoScreening and it's many health benefits into legislative
language. The final language is being finalized while we speak. It is our
ernest desire to encourage the use of the MTI PhotoScreener in mutiple
federally funded programs, so that it is possible to identify serious eye
problems in America's children before irreversible damage sets in. As far as
timing goes, the results should be almost immediate, bearing in mind we have
been at this for 5 years already!!! The House of Representatives should move
it's Fiscal Year 1997 legislation forward sometime before the Memorial Day
Recess (May 22 - JUne 2) and floor action could come very quickly after
Congress returns. We are hopeful that the legislation will come before the
full House before the end of June. Once the House has completed it's
consideration, the Senate will review and hopefully, all being well, accept
the PhotoScreening language. The Chairman of the Senate SubCommittee dealing
with this issue will be Senator Arlen Specter, who is the member for
Pennsylvania, where MTEN is headquartered. If accepted, the bills will then
be sent to the President for signature into Public Law. This must happen by
September 30. In conclusion, we are optimistic that the years of hard work we
have put into MTEN will finally pay off for our investors. We feel the
lobbying group is doing an outstanding job. PhotoScreening language in the
legislation will provide very tangible evidence of federal support which can
assist MTEN sell thousands of PhotoScreeners at both the state and local
levels. There are almost 30 million children in this country from age 6months
- 5 years who need to be PhotoScreened, so that conditions that can lead to
Lazy Eye are detected in enough time to provide corrective treatment. When we
look at our numbers, we really look at the number of kids because we are also
in the film business. We have the only game in town, and with these
legislative initiatives, I think we have a tremendous opportunity ahead of
us.
Best regards
Jeremy P Feakins
Chairman/CEO
reply; Jeremy, thank you for this update and please do not be a stranger.
I know you are a busy person however if you could send us a quick note every
week or two informing us about MTEN's progress, I would be very
appreciative.
I think MTEN (now at .38) has tremendous upside potential with only .38
downside risk. Again thanks...LS |
