Post by
Pezo_Plaka on Sep 05, 2021 3:38pm
My story with MJS
This story will be negative, positive, and hopefully shed some light on holding this long term and longer term. I not here to brag because I got destroyed on this stock.. Just trying to share. I have been absent on this board since last October and came back this weekend to see what's happening.
So I too held this stock for 8-10 years. Hard to say when you get married and have children in that time frame. At the time Rod was the CEO. He made some good moves and some bad ones. We had a nice German newsletter hype cycle and I was sold this was the one, and it's eventual Hong Kong listing would propel this much higher. In I went for 700k at approx $0.20. After a brief run to 0.25 we never saw that valuation again. A lot of dough tied up here for a decade...
Fast forward to Stephen Kenwood, Director deaths and resignations, buy backs that never occurred (until now), no more Chinese property acquisitions, no HK listing.. sloooowwwly improving grades, town relocations etc etc..
So what happened... well King Kong and Kenwood happened. So King Kong has 400 million plus shares and Kenwood and MJS have never returned my emails or calls except once and only after I expressed extreme disappointment at the lack of a call back. I think the whole thing is fishy. I think Kong is happy with the arrangement cause he is a making sick money somewhere in the operations, and Kenwood has his job and is happy to collect checks.
So, I capitulated after a decade and sold in October at 5-5.5 cents.. got about 35k back from 140k. I was like holy shite I took a bath here.
I tried to find a company with a responsive mgmt team that will actually attempt to do something. I dumped the whole amount and bought 700k of INTL a few days later at 5 cents. Swapped MJS for INTL essentially. Never gave MJS a second thought and deleted it from all watchlists (wasn't happy obviously). Forward to July 2021 where I got out of INTL at an average of $1.53. So MJS, I guess thanks for the frustration and the huge loss that made me take a chance on another company. I just don't think they really want to do anything with it. I had pleaded for aggressive marketing and consolidations, dividends, anything.. and nothing happened. For the rest of you, you can recoup the money elsewhere and may you be as fortunate as I was.
Good luck to you guys.
Comment by
Sharegar777 on Sep 05, 2021 4:15pm
Nice story Pezo_Plaka , All you need to do to finish the story off is put all your INTL winnings back into MJS and get another 30 bagger! Then we would all be happy! No advice intended. GLA Sharegar.