It's amazing how many people feel the need to justify why they sold at the expense of the shareholders that are still long.
I have spoken with Jack and Winston on many occasions. I must diagree with you you view has fundamentally changed because most of it is incorrect. I do not think much has fundamentally changed.
In the beginning there were around 120mm authorized shares reported. Now, mysteriously, there is 200mm authorized shares. How would I know this? It came with my Certs. Fundamentals have changed.
Shares outstanding would be more a fundmental change. This is what Jack told us. Some people want cash, some people want shares. I'm not going to let the number of authorized shares keep MTEI from completing an acquisition that is in the best interest of the shareholders.
In the beginning there were 70mm outstanding shares reported. Now, mysteriously, there is ATLEAST 120mm outstanding shares. How would I know this? Ask any one of the 7 people who went to Houston and learned this first hand, but they didn't want to publicize this. Fundamentals have changed.
We absolutely did NOT learn there were 120 million shares outstanding. Jack did not give us a number. He did say there were some issues with the shares outstanding that he was pursuing but he couldn't give us the details.
I had a PM from someone who called the transfer agent that said there were 89 million. Do you know something different?
In the beginning one of the things MTEI used as a PR tool was that they had technology far more superior than others that would allow them to mine like no other. Now they don't? Fundamentals have changed.
I do NOT believe MTEI ever said this. What Jack and Winston both told me was that there was advanced technology that they were using that would allow them to go after reserves that were left in the ground. Other people could and do use this same technology. Most of the majors don't because it is not as profitable for them due to their high G&A. MTEI has such a low G&A that going after the "leftovers" is very profitable.
In the beginning there was talk of already producing wells, and this was believe to come from a member of MTEI's management. However, face to face confrontation proved otherwise. Fundamentals have changed.
Again I disagree. Never have I heard from anyone that MTEI already has producing wells. All along, Jack and Winston have said they are in acquisition mode and are in negotiations to acquire more assets (land, reserves). Face to face, they gave us general descriptions about some of the deals they are looking at.
In the beginning there was talk of possibly being acquired at then end of the summer, and the source was not macker, it was from a member of MTEI. However, face to face confrontation proved otherwise. Fundamentals have changed, unless they are in a quiet period.
I have never heard from MTEI about being acquired at the end of the summer. I did hear about MTEI acquiring assets by the end of the summer.
What about some reasons to HOLD?
1. #reply-5308682
2. MTEI management
3. $200 million minimum in assets and likely underestimated.
What did MTEI do before they acquired the "shell" ? If they were a real company before then surely they have already producing properties, or properties that have been evaluated right? What the hell is going on here?
This has been covered many times. MTEI is a newly formed company. The rest of your questions are baseless.
What is their business plan? Who cares about how long they have been in their offices, you don't start a business then create a business plan, if you catch my drift. A lot of things I have seen from MTEI as of late has been ass-backwards, which doesn't give me a good feeling. Fundamentals have changed.
Here is MTEI's business plan in a nutshell.
pennypicks.com
MTEI is something that Jack and Winston have been talking about for a long time. Their strategy is to put 70% in proved reserves and 30% in exploration.
Steven, why are you so quick to accuse people over and over again. Everywhere you look you see someone accusing macker for this, macker for that. Don't be a fool my friend, you bought the stock on your own. I bought the stock on my own.
As a long shareholder, Steve is probably mad at many people who said they were long and holding yet have sold. I don't find fault with Steve for pointing that out.
For those enraged holders out there, please stop pointing fingers. Yes there were some people who sold and haven't admit it. I know of quite a few as macker stated that have sold. Some you would be suprised to hear! Also, macker never said "I'm the leader!!!" It was the 100 people who posted everyday saying "Macker!!!!!". He was Private mailed to deal and e-mailed to death as well. The ones that sit and blame him now are quick to judge.
Why are you so quick to defend macker and blame others for pointing fingers? Pot.kettle.black? I think macker can do the job on his own.
Sorry for this logn drawn out post. I just needed to vent my frustration here and be upfront with you guys and gals.
I wish the best of luck to all.
Cliff
Vent at the cost of other shareholders? How noble! I hope you feel better too.
I think if you truly wished us the best of luck that you wouldn't have to announce that you were selling and include such incorrect information. I wish you the best too.
Jack, Winston and the rest of the bunch are honest, ethical, hardworking people. The trouble is with past ICVI management and people associated with them.
You guys still don't know JACK!
Tod |
