Oss, Peter, ALL:
What is happening to the MYT stock price is absolutely disgusting, and hope that you, Canadian friends, decide to investigate the situation, identify the responsible individuals, and take them to jail for life.
You are on the spot and know how to handle the situation.
IMHO, the stock price rise and fall is not the result of free market actions, it is the result of a dirty play of insiders and their outside "associates". I can tell you that the mafia has higher ethics than these individuals.
TNL is right in his post 719 in claiming that MYT, and outsiders, have told us lies from the beginning of this venture. They are responsible for pumping the stock price to $ 10.45 and for the fall to yesterday's low. Can you imagine the top management of the company screwing the shareholders, instead of increasing shareholders value?
My only hope is that the product has the merits that they claim it has, and in this connection I would suggest that some of you take on yourself to have the product objectively evaluated and compared to most reliable competition by the most serious and scientifically recognized Institute/Laboratory in Canada.
When you look at the Frost & Sullivan Report, referred to by Tom Grecco in his Conference Call, you will see that there are 2 pages of names of companies, potential competitors to Mytec: most of them from well recognized companies! How does Mytec stands with them?
Peter, I am told, but have no proof, that the current selling is mostly from insiders and associates, people who bought shares at few cents, sold at several dollars, and continue selling at 1 dollar, still making big profits. Then will buy again, maybe with stock options, at few cents and hopefully drive the price up again. I am told also associates/shortsellers are playing the game. I heard that even Ms. Tomko sold her shares as a revenge against her ex-husband. True, false? I do not know. I only report what I heard.
One thing I believe is undeniable, i.e.: that somebody, somewhere, for some time, has been and is manipulating the MYT stock price for illecit personal gains. Is this permitted by Law?
When MYT announced the stock buy-back program I was given to understand that business was on the verge of serious development, and with plenty of cash. Now the truth is that MYT has around 3 million $ worth of cash, and will soon need to raise funds (how?) in a not too distant future, to continue operation. It is evident that the stock buy-back program was another management mistake, probably intentional
to temporarily encourage share purchase and "unload" their own shares.
How can somebody pretend to buy-back shares when their cash-flow does not permit it?
All MYT burden is now on Tom's shoulders who, I hope, has the professional ability and personal integrity to put order in this crazy house, make a big clean-up at management and Board levels, make sure that the product is by far superior to competition, and start all over again on a sound basis. From want I am told, even CounterForce has been screwed-up and is losing ground. MYT is very shaky, IMHO.
Bob Bachynski: are you a stock promoter?
I hope (what else can I do at this stage?) that some of you will see the situation as described above and take some of the suggested actions? We should at least know the truth and identify "those at fault".
Look forward to reading your interesting comments on this unacceptable situation. Thank you.
Antonio
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