Good Oil and Spiderman bring up patents as a burning issue. MHM...

Good Oil and Spiderman bring up patents as a burning issue. MHM must be run by morons to not have patented the processes.

In response to their concerns a number of holders raise valid arguments and provide high profile examples of very, very successful companies without patents and in return we get this.

Good Oil:
"Yes I am sure MHM will eclipse Coca Cola and KFC market caps very soon LOL. I rest my case."

How are people supposed to have rational discussions with someone who writes such diversionary gibberish? Who said anything about having the markets caps of Coke and KFC?

Before that brilliant and cutting farewell, we managed to extract a number of concerns and some good questions about the company, which in summary are.

1)Peter Robinson left is that a problem? Answers were provided.

2)Frank is conflicted.
It actually seems clear that as someone who is paranoid about IP protection he wanted to have a massive stake in any company that got to use his technology. He has that with MHM and will not have it unless he goes through a whole new start up to deal MHM out.

This leads to
3)no real skin in the game.
Frank will be around $19m wealthier for every dollar the SP rises, Ben around $5m. If that's not incentive then capitalism needs restructuring.

4)There are no holders apart from Frank with more than 5% of the company.
That's true. It could be meaningful, but not as meaningful as whether or not they will roll out more plants, which looks like a 90% probability in Tennessee with SSC. IMO

5)What is to stop the 3 Party JV selling out to , say , Alcoa or another well healed preditor?
All of the above but especially the fact that Frank has to sabotage the company in which he is the biggest shareholder when it's on the cusp of expansion. In Australia, MHM own the plants which processes salt slag and now has the NMP formula. The other question is why would they do it, if better deals need to be made they'll do it through MHM. Frank is the power partner in the three party JV and MHM, he has no need and in fact it would be totally irrational for him to believe he stands to gain from selling out MHM. It would be like him benefiting from tricking himself.

6) They could lose the rights. Same argument as above. Frank has to take the rights away from himself and give them to someone else if he takes MHM out of the equation.

7)Peter R is the brains and Frank a talking head.
This was an unfounded and incorrect assertion.

8) NMP was mysteriously added to Moolap. Communication has not been particularly good, but all of the arguments above apply to why MHM think they can add NMP. The three party JV and MHM are effectively operating as one entity.

9) Patents. MHM should have had patented the process.
Numerous examples of non patented success stories were provided and when you look at them, they particularly apply to companies who are selling a product with a unique formula. Agree or not, but MHM have clear reasoning for their approach.
I would ask again, if the pro patent people believe if the salt slag and other technologies would still be unique to MHM/Alreco, if they had patented them 5 years ago. I certainly believe they wouldn't be.

The holders provide references, examples and links in support of their arguments. From the negatives, I haven't seen one. Just strongly voiced opinion.

All this doesn't guarantee success for MHM, they have to make the deals and make money, so it is not a foregone conclusion, but for me, in light of all of the above it's a very good risk/reward play.