I am trying to figure out what the deal is with this company. It...

I am trying to figure out what the deal is with this company.

It seems that they have a patent for a internet search engine that is uniquely able to tailor the users web use to the search results. So for example if I was recently visiting sights about folk music, and then if I did a general search for music, folk sights would be higher up the search results.

This technology is very powerful and from what I gather unique, however with the advent of google MMZ decided not to compete as a search engine but rather position themselves as a internet ad broker that uses their technology to match online advertising so that it is more relevant to the user. So given my last example as I have visited folk music websites, the internet advertising I will come across will more likely be about folk music that dog whistles.

So that is what they have. Other than that, they have hardly any cash, no employees and crap loads of shares on issue.

Directors bought in at around 6c per share in November. There was a recent placement for 800K at 4c to Patersons clients, and Middle East Petroleum (MEPS) recently bought about 12% of the company at market at aroung 7c. (The CFO of MEPS is the new chairman of MMZ)The company is now looking to start a fresh.

So what is going on?

I have trawled the net and there are do seem to be rumours of a large global based internet operation on the cards. But that is all I can find and it is only hearsay. If I where the directors I would look to go back to thier initial busines model as an internet search engine, and given the need for the likes Google and Bing
to develop their products further, I do believe thast there might be something there left of MMZ.

That said, the chart look amazing, MACD crossover, rising stochastic and massive volume. I understand that the wind was taken out of it yesterday after the 3B, but I did notice that 1.1c was continually being fed regardless of the buying at that level, this then climaxed with 1.1c being stacked at 8m, a line wipe at 1, followed by selling into 0.9c. (Most probably by those who bought at 1.1 and then got scared that they bought into a shell with nothing more than Kevi's recommendation)

That is all I can come up with at the moment. If anyone has any more info about the way forward for this company then please let me know. I know rumours are rife, but I would still be glad to hear them.

PS: I dislike Eddie McGuire because I find him smug!