EXPM:MXMSF - Post by User
Post by
Alison11on Aug 01, 2011 3:03pm
291 Views
Post# 18892966
Reality Check All of Us!
Reality Check All of Us!We have all heard the Art and Colin snake oil sales pitch for the last two years. The deal that never comes as someone said earlier (sorry - can not remember who). Here are some facts.
The deal is to buy out the T&T operations - 100% ownership by MXM.
MXM has a history of missmanagement as far as the share holder interest is concerned.
They funded the Evnironmental Assessment and infrastructure of the T&T operation with share holder funds. THEY DID NOT OWN THE OPERATION AND SIGNED A DEAL WITH THE OPERATORS THAT WOULD NOT RESULT IN ANY INCOME TO THE COMPANY. NONE of their ventures have resulted in a net gain to share holders. They have misled shareholders with positive forward looking statements that they do not have to be accountable for.
We have been told the deal is just around the corner. We have heard statements like "Art is there right now and I (Colin) am expecting a call from him - hope it is good news". This has gone on for about two years now. And the spin goes on.
MXM's only source of income has been PPs. It is about the only news you can count on coming from this group as a deliverable.
They are out of money. They know a PP will likely fall on its face. I would expect that Canacord is even getting shy of these guys. I do have to admit that is hard to believe.
Given the above. Where are they going to get the funds to buy out the T&T opperations??? They say there is a backer behind them???? A mystery backer. Mystery backer or not, who is going to put millions into the hands of Art and Colin to purchase the T&T operations? Why would they do this. Is it because of Art's stellar management that they must keep him at the helm??? Hmmmm, I think not. Or could the mystery company want to share their new found wealth with all of MXM's shareholders? Hmmmm, I think not.
Why wouldn't the mystery company just buy out the T&T operations and put their own management in place???? It would be cheaper and result in not having to share profits with the rest of us. Think about this.
Without more nformation coming from the company (MXM), and given that they have no funds to purchase the T&T operations and no disclosed finanacial backer, I can see the T&T group saying "show us the beef" (Cash). One could speculate that MXM may be negotiating in bad faith. I truely hope this is not the case, but it sure looks suspicious.
ART and COLIN come clean. LOL that would be the day.
Luck to All
Alison