MM123 I'm sure every one of the regular posters on MSC agrees with your sentiments. Others (e.g. Cloudnine) have raised similar and other points. Some of us here are long-term holders and would love to get out with a small profit (or even just covering costs) – we can all see these things that you are highlighting. While you and others can speculate that MSC will soon go under, perhaps it is worth considering the view of the market. No matter how serious the criticisms of this company are, the current fact is that the sp has not been routed and there hasn't been a huge sell down. Since the announcement of the share issue, only 2.3% of total shares have traded. The price has stabilised and today, in a sea of red, MSC is green (perhaps not for long)! Given that all of the dilution that has occurred over the past few years has been due to issues to brokers and "sophisticated investors" I think it is notable that these shareholders are largely hanging in there and waiting for future developments. Other posters have already speculated that there will be an attempt by MSC to "ramp" the sp just prior to the issue. Clearly this IS going to happen. Management may be crooks but one can only assume they are not fools. Blind Freddy can see that such a huge share issue (not even underwritten at this stage) would be a disaster unless there is a very compelling reason for shareholders to participate i.e. the sp would have to be well above 1.8c for this to work. So expect things to happen over the next few weeks! Hopefully some of us will make $ (or recover lost $).
Fly
MSC Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
