Re: MUL - Where to from here?
Thanks for the Reply DMargon
You need HELP ! You couldn't possibly believe what you're saying....or else you're a MUL employee blindly supporting your masters.
Haven't you been reading all the facts I've provided about Ballintine & MUL??
Let's recap....... :freak3:
1.
Ballintine has stated, restated, and fully confirmed that MUL's 2 year forecast is right on target and that the co. is cashflow positive and is going to report a PROFIT during this reporting period. We'll have to wait a few more weeks for confirmation of this.
2.
MUL is being sued in the Supreme Court for $46 million and the Trial Date is set for 3 October, 2005. We'll have to wait a few months to see whether Ballintine's statement to the ASX and the market that MUL will be successful in defending the claim as advised by their solicitors is true and correct, or whether the judge hasn't read MUL's solicitor's opinion and Ballintine's statement and judges in favor of the plaintiff's whereby MUL is ??????, and Ballintine will most probably face ASIC.
3. Ballintine announced this year that the Supreme Court $46 million claim against it hadn't been either quantified or specified, and then a few weeks later had to admit to the market that it had been.
What was he trying to hide?
4.
MUL is facing a Class Action being commenced against it relating to the Share Purchase Plan in late 2003 that raised $17+ million that's all been spent.
MUL's legal expenses are going to skyrocket.
5.
MUL has raised $25 million over the past 2 years, still lost $10 million last year, and just issued 13 million shares at a value of $260,000 to activate a $10 million Equity Finance that once it's fully drawn down will dilute the shares on issue from 1,500,000,000 shares to 2,000,000,000 shares.
Where did all the money, and what good has this expenditure done for the shareholders?? Also, why hasn't MUL disclosed the details of the deal to shareholders?
6. Word on the street is that a large group of substantial shareholders are going to
vote-out the MUL Board and sack all the Senior management so as to save the company. I hear that one of MUL's most senior executives is an undischarged bankrupt.
7. Ballintine and MUL's Board have in the past worked closely with
Charles Abbott, ex-Deputy Chairman of HIH Insurance (Australia's largest corporate collapse) AFTER HIH collapsed - trying to raise capital for MUL.
8. In late 2003, Ballintine issued an ASX announcement about an independent analysis of MUL by Findlay's Stockbrokers that forecast that by now
MUL's share price would be between 35 cents/share - 55 cents/share, whereas today the share finished at 1.6/1.7 cents per share - going DOWN.
9.
Clinton Starr ex-Director of MUL pleads guilty to not 1, not 2, not even 3 ASIC charges, but to a massive 25 separate ASIC charges related to his trading MUL shares and is fined $7,500 plus $6,000 costs.
10. ; 11. ; 12
and so on and on and on.
Look DMargon, I could go on all day but there's too much to document and I'd rather comment on what's about to happen.....so please review the above and maybe re-assess your belief in Ballintine and MUL.
If you've got lots of shares in MUL, then its :goodnight for you.