Hi Lucky Lady. Let's see, why did I invest in TMM. How many times have I asked myself that same question.
I invested in TMM the first time in the summer of '93. At that time video on the internet was not yet a reality. TMM had the world wide rights to fractal video on CD-ROM. They were able to license this technology from Iterated mainly because, as I understood it, Iterated didn't think sound could be synchronized with fractal video. To their amazement, Tom Simpson and Taylor Kramer figured how to do it. MCI didn't believe it but when they sent their man, Peter Olson, to check it out he was a believer. MCI became interested at this point and eventually became closely involved. A consortium was formed with Iterated, MCI and TMM to work on fractal video.
Peter Olson from MCI was moved into TMM as President. It was at this point that TMM began to look like a very real sleeper. The stock was at a dollar when I first invested, along with others here, but with potential of the internet and optical media a dollar looked cheap. There were three very promising products in the works at TMM which were detailed by Peter Olson in an executive summary, at least one of which he claimed was nearly ready for market. There were also claims that they had the compression engine to do real time video over the internet as I remember it and it looked like the company was ready to burst onto the scene not only with optical storage media, but the internet as well. This executive summary sent the stock from .18 cents, where it had fallen, to the dollar plus level in just a few days. It looked really, really good. TMM moved their headquarters to Colorado Springs, close to MCI and it looked like a no brainer.
At this point things began to happen that the shareholders could not know. There were many people involved with the company that realized that this was a potential gold mine and the underhanded games began. One of the creditors tried to put the company into ch. 7 and gain all the assets and technology. TMM was forced to go ch 11 for protection.
That's where they have been ever since, up until last week when they finally emerged from ch. 11. I have said this before and it is only my understanding that TMM was sold short, ripped off, and driven down to the level it is today by people inside, and this was not Tom Simpson, Dan Shields, or Taylor Kramer.
The technology was indeed as promising as we thought and it lived on except that TMM was no longer involved in the deal. A new consortium emerged, according to printed articles, that involved MCI, Iterated, and a new player, Altamira which had now taken TMM's place. This new company is made up of former TMM employees who were working on the technology at TMM. You can use your imagination there.
The offices of TMM were closed, and it disappeared from the radar screen. The shareholders lost contact and it looked like it was a bust. Eventually, Tom Simpson was located and reunited with the TMM shareholders. He joined us here on SI and we believe that Tom is a person that has the ability to bring TMM back. After all, he was one of the original founders and it is still his baby. We also believe that Tom has some compassion for the shareholders that have lost so much money in this stock. Tom has tried several different things since he has come back to TMM but the right combination hasn't been hit, until hopefully now.
My sense tells me that Tom believes he is on the right track. The problem with the comeback and in pursuing the crooks that ripped the company off has always been a lack of money. With no money, we could build no production center and fund no lawsuits. Tom seems to have come up with a dream deal where we will have the unlimited use of a state of the art multimedia production center in Colorado and that should enable TMM to do what they do best. There is also a completely unrelated part of TMM with the acquisition of the new company which has a new emission control device that can be retro-fitted to existing cars or put on new cars. I think it takes the place of the catalitic converter.
How do these two go together? From what I can tell, ECC (I think that's the name) has the product which they want to begin producing in 1999. Their problem was with how to train mechanics all over the world on how to install the device. With TMM's expertise, they can do the training over the internet all over the world using the studio they will be moving into in Colorado. It will be one company, TMM, (I like the name because it is famous) and while the two seem totally unrelated, it looks to me like it could be a match. Now TMM can also teach college students multimedia production techniques for which they will receive college credit, and at the same time they can begin to produce content for market. It is an instant answer to the money restrictions TMM has had since the Olson days.
Now this all sounds good and it is my understanding of the situation at the present time. I think there is a lot of potential there, certainly more that there has been when the stock was at much higher levels.
Would you make money if you invested in TMM? Who knows. We have had many false starts and disappointments through the years. Many people have lost money, lots of it. Many of us have not lost a penny yet since we still have all our stock. A new investor in the stock at today's price could make some money, maybe a lot of money. How much, if any, I don't know but if you get a 15 bagger, I'll be even. Is it a sure thing? Certainly not. But at a couple of cents a share, it is probably as good a risk as any, maybe better. That's just something only time will tell.
If Tom can accomplish what he thinks he can, and if things work out the way he thinks they will, it may be a good bet. I don't think Tom would go to the trouble of bringing us out of ch. 11 and flying to Colorado if he didn't think he had something going. There won't be any big price moves until these things become reality and verifiable. Hopefully some of the TMM shareholders went out there this week for a first hand look and a report back. I've seen this stock fly like an eagle on good news. It is an unusual stock with a complicated history but I think if Tom can pull this off, there is a large following that watch TMM all the time just because it is such an interesting real life soap opera. Give them something solid that they can verify and I think they'll be all over it.
This is a pretty long note but it is only a glimpse of the history of TMM. We have all sworn we would write the book some day. If you feel like gambling, this is probably as good as any at this point. It may go to a penny before it goes to a dime. Who knows. I gave up trying to predict TMM a long time ago.
Hope this helps a little. Good luck whatever you decide.
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