Having watched numerous corporate collapses, MAE has many similarities. The resignation of numerous directors earlier in the year, and the fact they have not been replaced, is normally a very poor sign.
There are irreconcilable differences between what has been announced to the ASX and official government records held by the state of Utah. There are also numerous undeclared court cases, and even an onsite death of a contractor, none of which has been reported by the company.
The non payment of invoices is a hugely worrying sign, and the lack of regard and respect for suppliers is unforgiveable.
If the company had fully disclosed all of the above information, paid its suppliers when their invoices became due I would be far more positive about the company and the people running it.
MAE Price at posting:
4.5¢ Sentiment: Sell Disclosure: Not Held
