Nodummy posted on Wednesday, May 01, 2013 9:56:28 PM
Nodummy posted on Wednesday, May 01, 2013 9:56:28 PM
Re: mayhem72ss post# 43360 Post # of 43378 on the DD Support Board and Research Team
I haven't followed MMTE in a very long time. I saw the writing on the wall for that right away and tried to share some helpful information to keep investors from losing money in MMTE, but after that I didn't really look back again.
I can tell you that often with penny stocks the " business operations " only exist as a front for the real operations of the Issuer which is selling stock into the market to make select insiders a lot of money at the expense of the retail shareholders. Often the company puts no real money into advancing their "business operations " and instead money is only spent on promoting the stock price so that those insiders can maximize their profits.
Mining companies are the perfect business operation front because it is so easy to trick retail investors into thinking that the mines contain millions of dollars worth of valuable minerals when in fact the mines are almost always technically worthless because it would cost more money to get those minerals out of the ground and process them than what the minerals are actually worth. The mineral properties real value is their use in press releases and promo pieces. It costs millions of dollars and years of exploration to develop a mining claim into a productive property. Most penny stock mining companies are completely incapable of accomplishing this which is why most penny stock mining companies never ever ever end up doing any mining (except for mining investors pockets).
MMTE issued billions of free trading shares of stock towards bogus dirty debts to enrich the insiders while pretending to be a real mining company. MMTE was a typical penny stock scam. William Lieberman is a typical penny stock scam artist.
When a penny stock scam like MMTE is over the "assets" (in this case mineral claims) will usually just mysteriously disappear. Sometimes they will show up again in a future penny stock scam recycled by the property owner. Sometimes the company never really owned the claim or claims. They just signed an agreement to control the property for a certain period of time to facilitate their share selling scheme and so when that time period expires and new payments come due they just default on the payments and lose the claims. A lot of the times the assets were not expensive to begin with so they are just dumped. Sometimes the company just rescinds the agreement that brought the assets into the shell. Since the assets were only needed to help the share selling scheme, once the stock loses virtually all of its value the scheme is over and the assets are no longer needed. To be quite honest though, since MMTE is a non-SEC reporting stock (first clue that it was a scam), they are not obligated to tell you what happened with the assets.
Strategic Asset Leasing Inc. (LEAS) Stock Research Links
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