MAGOR CORPORATION MGORF

That was a late filing !

[toby12]

I have the numbers along side as I post this so there shouldn't be any mistakes. First of all I agree with cpcexpert that management is not looking after the shareholders. MCC is being run for all intents and purpose as if we didn't exist, this has to change. Although the shareholders are only that, due to control being held by MCC, if any of the large holders were to sell their blocks then MCC could go down but I would bet that buyers would emerge back at the .30 cent level. At that price it would be in MCC's best interest to buy back their shares. On to the numbers, IMHO they don't look that bad. It was the Bus division that caused the biggest revenue drop (3) million alone out of the $4.4 drop. The rail division seems to be the culprit hurting margins. All the problems have been explained and with MIS being installed then I would expect margins to grow within this quarter. Actually if you look at the cash situation, even with a $1 mill loss they are better off than ever before. This isn't sleight of hand as far as I can see, short term and long term debt have been reduced and cash on hand has risen. R&D spending is up and so it should be, for companies to stay competitive in this field they must continously re-invent their products. It looks like MCC has done that as they mention a reduction in R&D will be realised this year. The steps MCC has taken with VSEC and the "major client" comment lead me to believe that MCC is going to do very well in the months ahead. John is right in that regard as if they realise these heaters sales then revenues and margins will grow quickly. IMHO the company is doing all the right things but you know whether MCC makes money or doesn't isn't going to change the share price. Their will be a collective yawn from the 50 major shareholders and the price will remain relatively unchanged. Until MCC is promoted or catches the eye of a heavyweight suitor then I'm afraid we will be stuck in this range. The other option is to be debt free and pay a dividend but that could be 4 to 5 years aways. So MCC, keep up the good work but once in a while please remember there are investors out here that helped finance your company. Just posting my very honest opinions, anyone else ? This stock reminds me of some lines from the song 'Hotel California' 'you can check out any time you like, but you can never leave'. LOL Regards......