1. The company does own land in West Virgina, with mineral reserves of undetermined value. It is possible that the stock will run up a little in anticipation of the reports from Dunn. But like many others, I feel the dismissal of Stagg was a very bad move on management's part, especially after they'd made such a big deal of hiring them in the first place. We're also pretty sure that the properties in question, or many of them, were purchased for back taxes. So if I owned the stock, given these two things, I'd be very cautious in my outlook.
The land will have assets of $200 million MINIMUM guaranteed and more than likely more due to underestimates.
The dismissal of Stagg was beneficial for MTEI. Stagg lied about having the resources readily available to perform the surveys. They were replaced. MTEI never made a big deal about hiring Stagg. People on this board did because the Stagg surveys were an easy event to reference.
MTEI owes NO taxes on these properties. The deal is deeded land, free and clear.
2. This is a BB company. It needs money to stay in business. It needs even more money to become operational or to make further acquisitions. Where will this funding come from? What is Marc Tow's role, and who are his associates? And ask yourself what you think the chances of a reverse split might be.
MTEI is operational and is not in need of operational money. True, additional acquisitions will need some type of financing as any assets would. Welcome to investing 101.
Who are your assocaites and where does your funding coming from?
There is not a chance of a reverse split in the foreseeable future. Jack can not rule one out, but if it makes sense in order to get listed than it might be a possibility.
3. If you decide to get in, you might try as a group to insist on some real answers from management. Ask tough questions, and not on the phone. Tell 'em you want to see it in writing. It seems to me that Uselton's been utterly irresponsible with his enthusiastic projections. It seems also that he's told more than one investor who called to buy more stock. This, if true, is a real no-no.
MTEI has given us real answers to real questions in writing. If you have some that haven't been answered, send them to LionHeart and he will send them in his next fax to MTEI.
Uselton has NEVER made utterly irresponsible or overly enthusiastic projections.
4. See if you can get the real low-down on the merger and on John Christensen. This is important. Find out who Dunn is and get some info from them; this business about not bothering them is BS. Who CARES if it costs MTEI a few more bucks? They've already got plenty of your money.
The John Christiensen issue has already been answered ON THE RECORD by the company.
Dunn info is coming.
You remember, Tod C. keeps saying: "You don't KNOW JACK". Well, really you don't. Make him be accountable to you. Enough of this rubbish about his salty stories and how he's doing it all for his grandchildren. Get FACTS.
You don't know JACK. He has given plenty of straightforward, factual, on the record, written down, information. And more will be coming. Some people are just impatient.
You've done your job of chasing hypesters and getting the stock price back down to where your firm can survive again. I think you're job might just be done here.
Btw, MTEI will be just fine with or without your so called "help". Don't you think Jack would eventually know when there was trouble? Guess what? He knew long before any of you guys did.
Tod |
