Tonto, do you recall the big MTEI meeting/showdown in Houston? The SEC had stated publicly that they had gotten more complaints about the bashing of MTEI than of any stock ever in their history. When it became clear the bashers were making some inarguable points, a group of shareholders decided to fly down to Houston and demand answers. Here is one such post from that era (emphasis added):
=====
To: V$gas.Com who wrote (5149) 7/14/1998 9:16:00 AM
From: Tom C. Read Replies (3) of 11672
MTEI Team Report - VERY Short Version!
Seven of us met yesterday for nearly 3 hours with Jack, Winston, Quentin, Richard, and Earl - All the key people there. They all struck me as sincere, hardworking folks who are working to build a substantial energy company.
While there were no earthshaking revelations, the short version IMO is: They have all the experience we've heard about, and then some. It is a buyer's market now for energy properties. This will not happen overnight. I'm condfident in their abilities to build this company and personally will be HOLDING all I've got and accumulating more shares.
Sorry this is so brief, but I've got people here waiting to meet with me. I'll post more later. Other members of the team are travelking today, so it may be much later today or even Wed. before some begin posting.
Sincerely,
Tom C.
Message 5186413
=====
Of course we all know that MTEI was an outright scam. The company insiders just looked the shareholders right in the eye and lied. I always remember this experience when people report back about meetings they've demanded and gotten from penny stock management. These people didn't get to be where they are by stammering, sweating, and being forthright when confronted.
- Jeff |
