In the beginning I invested in MMTE when it was a failing oil and gas driller. At the time, I was investing in this sector because it seemed ready to pop with the advent of fracking. So when I heard that a management change was planned after the prior management (Joe Overcash and friends) had run the company into the ground, I decided to drop a few hundred dollars into this company. The share price at that time was .0001, so I bought millions of shares with the hope it would pop once the new management took over.
Once William Lieberman was installed as the new CEO, and a change of direction was announced, share prices began to move. It was then that I started to call and e-mail William regularly and developed a pretty good relationship with him. I forget what the high was for MMTE, but it went considerably higher than my initial purchase price. I believed in William's stated goal of developing MMTE into a lithium producer and powerhouse.
Occasionally, William issued press releases stating that he was on his way to South America and other locations as well. I would make it a point to e-mail him while he was on these trips, and confirmed that he was indeed in South America. In fact, I received return e-mails routed from Chile, Argentina, Mexico, and Bolivia. So what William claimed he was doing appeared to be true, and I had no reason to doubt him. Besides, nearly everyone was making money on their MMTE investment at that time.
However, problems developed for MMTE after the Overcash lawsuit was filed (actually listed as the M&A Advisors lawsuit, but representing the very same people). William told me the lawsuit was frivolous and that if Overcash pursued this lawsuit, he would put him in jail. William also claimed he was never served papers for this lawsuit, and that he found out about it from investors when they called and asked him about it. William even asked that I post a message on I-dud to quell investors fears about the lawsuit. I reluctantly did so, but made it clear I did not want to be put in the middle of any kind of legal situation.
I was also in regular contact with Brian McDonald at this time (the IR guy for MMTE and known to many as Ironclad). Just before the lawsuit went to court, Brian told me that William wasn't being completely truthful with investors, and that William had changed. Unfortunately, Brian did not wish to elaborate on his claim, so I continued on as normal --- completely supportive of MMTE.
However, when the Judge finally ruled on the lawsuit (and laughed at William's defense), the true facts were finally revealed. William did know about the lawsuit, and he did know that Overcash loaned him $40,000 to restart MMTE. William also knew that Overcash expected to be rewarded for loaning the money that launch MMTE on its lithium endeavor. William claimed publicly that investors would not be materially effected by the lawsuit. But the Judge ruled otherwise. This is when I realized William had lied to my face about everything, and I posted to all on I-dud about it.
