RE: Did I get suckered into a pump n dump?? The years when Michael Hu ran the show for MPE could definitely be qualified as a "pump-and-dump" stock. He was more interested in being a promoter than building a profitable company. As you mentioned, he did get caught and he tried the same deal with his Future Canada China Environment company that also went bust and became under investigation by the US securities commission.
Since his departure, Raymond and MPE has been struggling for years in trying to become a viable company, and there were a lot of promises that never actually came true. I truly believed that they lost their way because instead of focusing on their core business, they invested in all these other operations and equipment that never actually came to anything and cost us dearly in the way of dillution of the stock.
A lot of investors, me included, have lost a great deal of money on this company but at this stage of the game, the possible benefit of a rise in the stock price is greater than the risk involved. At least, that is the way I see it. I believe that revenue wise, they stand to have a good year, but whether it is enough to motivate interest in this company is anybody's guess. Judging by the NR's, Raymond seems very optimistic about 2012, but the exiting members of the board of directors would disagree. The reality will probably be somewhere in the middle, but I am still hoping and praying that Raymond can actually pull off what he says this time and actually make us all money.