At one stage [a few years ago] I had about $14k invested in MGZ. I got out for a several reasons. I requested to see a sample of the BCD and got soothing noises a couple of times but never received one. I didn't like the tie up with Sol-Millennium and I found it hard to understand the relationship which developed. Then it emerged there was a long standing problem with the vacuum of the device [which meant the company had gone to the market prematurely]. From the answer you gave me I can see that you at least do know what the technical problem was... and so I am tending to believe you in general.
That said... let me offer you some well-intentioned advice.
#1... if you do have a legitimate grievance which can be actioned... then just go ahead and do it. By coming onto a public forum the risk you are taking is you might be opening yourself up to pursued for defamation. The situation in Australia is ... it is the weapon of first choice by unscrupulous people. Even though they know they will not win such a case, the person they chase frequently does not have the financial resource to defend themselves. As a result, any legal action you might initiate will be compromised.
#2... The ASX in general is where most of Australia's dishonest people 'hang out'. It is poorly governed at the high end and runs wild in the speculative end. If you have been ripped off, but actually can't redress the situation [and so you are now coming on to a public forum to get some satisfaction]... as hard as it may be ... get over it and move on. There is very, very, very little justice in this World. We all get shaken down. Chalk it up to experience. It is the sanest way to proceed...imo.
#3... even if all that you say is true and correct. No one reading about your story is going to take any action on your behalf. Instead they will be focused on what current commercial opportunities might be presenting themselves. Personally... I know nothing about Ian Dixon... he has a good reputation but I know that actually means diddly-squat. I have met plenty of business people over the years... as a rule of thumb, when it comes to money, if they know something you don't they will happily exploit that advantage for all it is worth. [Maybe... in Heaven, business is done differently?]
Finally... it is absolutely clear. MGZ is a failed business regards the BCD. Perhaps, if all you say is correct, the BCD et al. might prosper in other hands or at some other time. It certainly seemed a worthy project.
MGZ Price at posting:
2.0¢ Sentiment: None Disclosure: Not Held
