I'm glad you corrected yourself Jan that this suit deals with an issue involving MATRIA and not MDXG stock.
I admit as a long that this sort of distraction is not welcome but lets put this issue in it's true context.
What does this have to do with MDXG and it's board and management team ex PETE??
How does this impact MDXG patents and pending patents pipeline??
How does this impact an 80+% profit margin and a defined and documented growth story??
How does this impact the balance sheet and established account??
How does impact the future and most definite sale of the company??
Oh right - NOTHING
People that make money know how to stay focused and the best ones know how to filter noise.
Thanks again Jan as this is 20 minutes of my life I won't get back
Please report next time under a longer, more credible alias and provide us a story that we can actually GIVE A SH$%T ABOUT!
I'm thinking even with a relatively recent hyperactive SEC and even if Petit was found guilty, which I believe to be a remote event, the penalty would be a small fine. Although not recently, I have provided both expert and material witness testimony regarding insider trading in the past and what Petit is accused of, if proven guilty, wouldn't get more than a slap on the wrist.
Again, I don't believe he is guilty and will be found innocent. He's got outstanding council and I'm sure they would not encourage him to fight this if there was even a small chance of guilt.
I wonder what the guy who made the 90 grand off of this trade has to say, I have only read Pete's side of the story and he has denied this, taken a polygraph and said he bought a plane. But like you said, circumstantial at Best, Pete doesn't appear to have benefited directly, in the world of the SEC it does seem strange that 7 years later they are worried about a profit of 90 grand from a retired Delta Pilot.
It certainly is no vote of confidence that Bill Taylor has sold 184,000 shares so far. Somebody pointed out that he exercised another 200,000 shares that he hasn't sold. Lets hope it stays that way.
Bill will be running the company if Pete is forced to resign. Bill selling stock at the same time that the government says they will pursue the case against Pete is hardly a vote of confidence in himself.
Hopefully you can put a positive spin on something that doesn't look positive to me.
As per Yahoo company profile, as COO his pay is 343k. Assuming that is correct and appreciating what you are saying/inferring, the stock and company sales have boomed over the past year, the guy is entitled to enjoy a little. I don't know the exact cost of living in GA vs. NJ, but 343k isn't a lot if he has a family and other responsibilities. If it became a pattern, I might be concerned but I would assume he will receive more stock based compensation as the company continues to excel for which he would hold onto. Also, 343k vs. other public company COOs is on the low side...I know it's a small cap med device and everything but still.....
It's not a recycle. Pete's lawyers filed a motion for summary judgement and the judge denied the motion. That is news because it means that the case against Pete will move forward. I'm bullish on the stock as well, but this is something that you must pay attention to. Pete is an integral part of MDXG, much more than anyone on the board or the management team. At the end of the day, the product is what's exciting but great products and poor execution mean a lagging stock price. Can the team execute without Pete, that remains to be seen but don't think that one person will not matter. Look no further than Apple to see how much one person mattered to a company stock price.
That was a nice ramble, tipmaster. But this isn't so trivial. So people are in MDXG not just because they have a great product. Some also think that Pete Petit is an integral part in getting MDXG where they need to go. Continued growth execution and positioning the Company to be acquired? Why this news is so serious is that the SEC is not backing down. And the case is now definitely going to a courtroom. The SEC is asking that Pete Petitt be removed and not be allowed to be the CEO of any public traded company. Reading the SEC filing; I say they have a much above average case. I have seen some where the SEC is reaching and maybe on a 'witch hunt'. That doesn't appear to be the case here. Now, IF you never considered Pete Petitt and important element to this MDXG 'story'; then I guess you are correct. Nothing has changed.... For me? I think Pete was very important to this 'story' going forward....
I actually agree with you j Michael on Pete being very important, he is, not Steve Jobs important but nonetheless it would be traumatic to the stock if he was removed as CEO. As stated nearly 1.5 years ago, he has claimed no involvement, said he bought a plane and the calls were in reference to that , passed a polygraph test and received support in writing from the mdxg board. I have shorted many stocks, and yes you would win if Pete loses, however I will predict this trial might take years and in the mean time mdxg who is debt free with sales doubling year over year with 80 percent profit margins, will be sold by the time this trial wraps up, if it isn't settled first. I would be shorting from a product failure of some sort, not from an insider issue from 7 years ago from another company where it was already proven that Pete never profited from. Just as you were being nice to your HLF longs, I would dig deep on this company and research the large holders, at any rate I do wish you luck.
The new news is this is stated as going to trial which in the least is a distraction for Pete, and who wants negative publicity. As to our new short poster, read all of his posts from the past few months and you will get who he is and how he handles himself on message boards. Typical short attitude, but hey shorts can make money too. I am long mdxg and this is another buying opportunity and with 500k shares yesterday and 300k today, I would say this is a dull stock to short and the oldest rule on Wallstreet is never short a dull stock, they need volume, or they will get killed when they exit, going to be fun to watch when this unwinds.