My WillyWizard Club Email Update Sent Tonight
WillyWizard Club Email
Friday MRXT put out good news about the resolution of their differences with UIT...BUT as trading volume developed two markets makers, one in particular VIEW set on the offer selling stock...as much as they could??? Everyone was curious who was selling all the paper. Well about 12:00 PST someone made a post at Raging Bull about a SEC investigation into insider CEO selling into a pump and dump. I was not aware of this until the stock price collapsed to under .16 cents and going lower...
Someone asked why I didn't send out an email alert after the collapse...my reason was two fold...
1. I was not at a PC to do so..I was at my normal job...out getting lunch when I received a call from a club member alerting me to what was taking place.
2. Even if I was able to send out an email I would never do such a thing...can you imagine if scared investors all started dumping??? There were enough scared investors dumping all the way down to .065 cents...yes that low...the stock closed at .115 by .12 at apx. 80% higher then the lows...whomever sold at .065 was probably very mad for getting scared out then watching the price bounce higher after they sold.
Only if you were reading RB MRXT message board you would have known soon enough to sell above .18 because it went to .18, I am told in minutes.
Yes I sold a few shares about 100k out of my 221k holding at about .13,.14 range and then held off to watch it tumble lower...
To conclude: I am told that this Larry and Steve named in the allegation have not sold any shares of MRXT...this shows me something strange has taken place to create this event.
Should the CEO step down? If the CEO has not sold shares then NO he shouldn't step down!!! I don't believe a pump and dump scheme has taken place with Marx Toys. I have followed the short posters at RB and the trading to closely to believe wrong doing on the part of the two men accused. I don't know much beyond this because of my none direct communication with the company.
My profile ended about the first part of June but if all this is cleared up..I expect it will be...I will be happy to ask for a renewal of the profile. I will leave the profile at willywizard.com because I believe nothing has been done wrong but the CEO or any party involved. I will hold to my personal believe on the issues brought up by the SEC. Also remember my profile ran for 3 months when the stock price was under .07 to .05…many club members bought shares at that price range.
Marx Toys is a real company with a real product...this is forward looking for revenue and income...I have read the BS about them being broke in several articles this weekend...That's total BS to write when they don't know current financial contracts that were recently announced in the MRXT press release.
Marx Toys has a contract with UIT to sell UIT's products...This includes the recently announced IM Buddy...without IM Buddy the stock was trading apx. .10 to .12 range hitting .15 before IM Buddies was announced public. My question would be 'Isn't a company trading at .12 worth much much more when they start to sell a revolutionary product like IM Buddies??? You bet the are worth significantly more in shares price/market cap...What are the authorities talking about artificially increasing market cap...Every company that has a new product line is worth more especially a newly reformed big name toy company a highly recognizable name such as Marx Toys. I think the CEO has done a great job changing the stereoscape name to Marx Toys along with symbol and cusip change. Over the last 6 months…significant developments within this company warrant a higher market cap.
Also a short position is admitted by Tom Bibiyan a known short trader...I have an email from one of his associates confirming Tom is short and has connections to short OTCBB stocks...Tom lives in the US and shorting OTCBBs are illegal to short for US accounts...It takes offshore connections or market maker connections to arrange such short selling activities.
To sum this all up something stinks and I can write I don't believe it's Marx Toys, the CEO or other named parties.
I will trade all bounces keeping a core position.
Thank you,
Hal aka WillyWizard
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