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Moller International Inc. Message Board

  • Well I was a little off on my prediction of shares. Moller has issued an additional about 200k shares since the same period last year (according to 10-q). Cash way down liabilities up almost $1m.
    As of December 31, 2012, MI had an accumulated deficit of $51,377,818 and a working capital deficit of $12,425,329.
    During the six months ended December 30, 2012 and 2011 MI made repayments on related party notes payable of $11,173 and $116,594 respectively.
    At December 31, 2012 the Company has $231,380 outstanding related to convertible promissory notes. The convertible notes accrue interest at 10% per annum and matured at various dates prior to September 30, 2012. The notes were not repaid upon maturity and are convertible into shares of MI common stock at a conversion ratio of 15% below the market price of MI common stock at the time of conversion. Discount amortization charged to interest expense during the six months ended December 31, 2012, totaled $68,347.
    They also claim to have entered into a material agreement with Athena Technologies but do not say it is an MOU.
    Rent expense $91,252
    ZERO Revenue
    "derivative" loss?
    SO, Paul is well taken care of thru various means of collecting money from investors. There is nothing positive to red unless you believe the MOU (which has been a farce other times). I see a drop in SP today as a distinct possibility if anyone other than 4 on this board read their reporting.

    Sentiment: Strong Sell

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0.040.00(0.00%)Feb 11 3:36 PMEST