Dear Insight:
I applaud your efforts to contact the big cheese and get the scoop. The online talk can be just that, which is why there is a disclaimer for this service. However, I am not here to BS anyone. If I am incorrect on anything, I certainly hope it is brought to my attention(some things I wish I was wrong on).
It clearly states on page 4 of the 10QSB for the quarter ended March 31,1997, that:
Accumulated deficit-beginning of year (19,176,789)
Accumulated deficit-end of first quarter (18,849,708)
Notice the difference is the profits for the first quarter. Check it out and do the math.
This is the second event in the past four days that has gotten me worried about the future of this company. How can the CEO of MIOA not know about this $18 million debt???!!! Is there any other word for it?
Perhaps you should ask Morrell about the number of shares he and his team are requesting us to okay. 60 million-come on-what are you going to do, buy Phycor? I fear great giveaways before this stock has a chance to get off the ground. Like I said, they could continue operations as is and have this stock in the 6-10 range. Why not wait for that? I would be for adding available shares at that time(and less than 60 million).
I really was long on this one, but this kind of junk is the making of a stinker. Put on the full court press-we are the investors and we have a right to know!!!
Mike Hodge-more info.-I won't tell you how to manage your portfolio, but looking at the past five months of the stock's price movements, you can see that the stock dipped to this range(and even lower) at about the same point in the quarter. Perhaps you could fly the coup now and buy in when it drops to about 1.75. Granted past history is no predictor of future performance, but it seems to be following the same trend. People can cycle in and out of stocks during the quarter depending on what each individual stock is up to at the time. Players of MIOA know that MIOA won't do movement until next month, so it won't be back up to 2.5 or higher till the previously mentioned time. I am guessing that shorts are tinkering now. This is their time to place their bets before the dealer begins to deal. If they see aces on our side, they will fold and lose, but if they see less than face cards, they begin to smile(without us seeing). The real investors haven't given up, yet. They are in the know....
Miller |
