From Stockman Forum:
Subject: MTEN
To: LS
Fr: Jeremy P Feakins
Chairman/CEO
Hi LeRoy:
The market thinks there is a lot of cheap stock available. I think what is
happening is that the shorts are in there ruining our stock. If you look at
the kind of trades, they are mostly huge blocks of, say, 15,000 - 30,000
shares. This has the effect of lowering the bid price. Also, the pattern of
trading is strange. As soon as buying comes in, a block of shares appears to
be sold, driving down the price still further. This is probably some market
makers shorting. Of course, it's always possible someone is working against
us to drive the price of our stock down, to provide an opportunity to make a
a low bid /offer for our Company. There could be several possible suspects.
When you have a world class product like the MTI PhotoScreener, there are a
number of companies that would love to get their hands on it. Clearly we need
to do something, because you are right, we cannot raise additional capital
for expansion all the time we have a declining share price. We do have a plan
to redress the situation and I have been working on it as expeditiously as I
can. I cannot, for obvious reasons, divulge the details here. But, I can
assure you this matter is receiving my utmost attention. I feel confident
that we will win, and the continuing improving business fundementals of our
Company should provide us all with the return we are seeking.
Best regards
Jeremy P Feakins
Chairman/CEO
reply: Jeremy, a few weeks ago I suggested a number of stop gap techniques
to deal with shorters. Write a note to all investors to get their stock
off the street.
Go to your broker and make sure no one is using your own stock to short
against
you. In fact, take it off the street too. Next, do a name change. Costs
a few bucks
but it will make old shorty know you are on to his game. Next, go to the
institutions
and start to tell them, and convince them, to be a player in your company.
If this
don't do it...only great earnings will....Best of Luck...LS
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