From Stockman Forum:
Subject: Re: MTEN
Fr: Jeremy P Feakins
Chairman/CEO
Hi LeRoy:
Thanks for asking me to respond to the negative comments on MTEN. Firstly, we
put out a press release because of a continuing decline in our stock price.We
simply wanted to tell the Investment Community we are still here, going
strong and making progress. Our course is steady and continues to show an
upward trend. We have previously reported a 40%+ increase in PhotoScreener
sales compared to 1996 (see 10QSB 3/31/97) Our 9 month revenues have
increased from $462k in 1996 to $2.8m in 1997. Clearly no lost ground there!
Just last month, I wrote to you and reported on the positive results the
lobbying firm in Washington DC was having with legislative efforts. Unless
the writer has some information I don't, we would appear to definately be
making progress in that particular quarter. We continue to see increased
PhotoScreener orders, especially from Public Health (53% of our sales were to
PH last year). I have heard nothing that would suggest the MTI PhotoScreener
is not THE ANSWER to an unmet need. In fact, at a recent scientific (ARVO)
meeting, the MTI PhotoScreener was the subject of around 12 investigative
reports. I have seen several reports that support the Company's statements
that the MTI PhotoScreener can identify serious eye problems where this was
not previously possible or feasible without a full eye exam with dilation.
Pediatricians and Family Physicians are indeed purchasing the PhotoScreener,
but Management is of the opinion that initially, the large orders will come
from Optical Chains - and we are after as many PhotoScreener sales as we can
get so we can start to supply the special film used, and get into the
'annuity' business. We are not neglecting any one market - but we need to use
our resources wisely. We need to concentrate on the 'lowest hanging fruit'
first. As for the Lions, the writer is correct. This isn't a new strategy.
What is news however, is that for the first time we have an opportunity to
showcase community vision screening (several Lions Clubs are already doing
this successfully), at the International Lions Convention in Philadelphia at
the end of this month. I can tell you quite candidly, there is tremendous
interest from the Lions Organization. The Lions KidsSight program is a
international effort by Lions to screen the vision of children. (there are at
least 43,000 individual organisations in 180 countries) Obviously, the MTI
PhotoScreener fits right in. We have a dedicated package to present in an
effective, professional manner. Polaroid Manager's are assisting.
Incidentally, I saw another note from an individual who stated the MTI
PhotoScreener presented a liability problem. Well, the MTI PhotoScreener is a
SCREENING TOOL, not diagnostic like an autorefractometer. We do not state the
PhotoScreener provides measurements of of particular eye disorders. Parents
of kids being screened sign a release stating the only sure way to detect
eye problems with almost 100% accuracy is a full eye exam with dilation.
Obviously you can't do that in a mass screening environment because it takes
too long and is far too expensive, you need a qualified medial professional,
and what is the point of doing that, if all you wish to know is "does that
Child have a problem or not? " If he (or She) does, THEN refer the young
patient to the eye doctor for the full eye exam and appropriate care. I do
think I mentioned to you once before, that I have heard that some
Pediatricians are being sued by parents for missing eye problems. The truth
is, current methods for SCREENING of eye problems in kids just don't work,
and the MTI PhotoScreener will change that. I should probably mention, that
all of the Companies statements regarding the importance of early vision
screening for children and the usefulness of the MTI PhotoScreener, are
supported by scientific studies, by many different organisations, medical
researchers, physicians, public health and public education officials and of
course, many eye doctors. Prevent Blindness America has even put togther a
training program for the MTI PhotoScreener. I feel bad that our press release
had the opposite effect of what we had hoped. Sometimes, you just can't
win!!! Anyone can call me for additional info or supporting documents on
1-800- 277 1710.
Best regards
Jeremy P Feakins
Chairman/CEO
Reply: Jeremy, what are you doing to help firm up MTEN? What is the
short interest? Is the brokerage firm that helped you get on the street by
any chance shorting against you? Are you being targeted by any special
groups? There has got to be some reason why this stock is falling. It
appears that you are genuinely interested in MTEN's welfare, but someone
isn't. Remember, a low stock price just hurts you raise more money from
the market for further development. I am sure you know you need to
resolve this declining price problem. What do you plan to do?... We
look forward to your reply...thanks for getting back so quickly..LS
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