Has anyone called the company. The CEO will take calls or return calls dirctly to shareholders. Here is my logic 1) THe CEO founded this company like 20 years ago. He is still working everyday 2)What these guys do we all know the USA and global bridge infrastructure is a crumbling mess. 3) 40% of the shares are owned by insiders at far higher prices than whatr it is at today 4) The company will have to raise more money to pursue the opportunities it has 5)None of the management team has left the compoany at least as of today 6)Personally I only have $2K at risk here at about $0.15 a share so personally I have little at risk. If it comes back I could turn the $2K into $10-$15K 7)Last week Cramer was touting on his show that Bear Sterns was a safe bet and no one had to worry about it. Today BSC sold for $2 a share down from a high of $160 a year ago. so....ANYTHING can happen.
a local bridge has structural problems, was seen last October as minor. Mttg had contracted with PA,perhaps a trained inspector by MTTG...bridge was closed and is being fixed before any major castrophe. That's good news!!
The stock got promoted which caused the share price spikes the last few months. These kinds of things give me concerns that this is an empty suit scenario. I don't know what the recent earnings reports looked like but the numbers on Yahoo look pretty bad (usually a quater behind on posting).
The only thing, and I mean the only thing, that interests me in this stock is that it is the target of promoters from time to time. If you can find the bottom and hang on you can probably get a 10 to 20 bagger out of it.
My gut says that there will be a spring campaign to promote the stock just after a major private placement and the owners hand themselves generous shares in payment of their good governance then the parade will start to pump the stock, with worthless contract announcements etc. to get new people interested and sink their dollars into this.
The fact of the matter is with the housing crisis a lot of cities have seen their tax base shrink so every municipality is cutting back on spending. I'm uncertian how or if this would cause some municipalities to defer testing this year if there is no regulatory requirement to do so.
I don't own this stock yet but I've been watching for a bottom for a long time now. I'm frankly shocked to see it's precipitous fall from the 0.30's. It would take a major promotion to get this one to budge. That could come soon but judging from the last promotion I think the results will be just as bad.
Regardless, those that know what is going on with the promotion cycle will start accumulating instead of driving the price down. These caps you've seen are there for a reason. They want to drive the price very low. to gobble up shares then when they got their fill miraculously the cap will disapear and then watch it fly.
I used to trade for years on the Vancouver exchange and these kinds of things were very, very common.
What I do like about this company is the people. From what I've been able to tell they are a good lot and maybe they can turn it around before the bank closes the door.