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TOPIC: METP - 12M O/S Clean Shell, Owner looking for R/M

METP - 12M O/S Clean Shell, Owner looking for R/M 11 years 9 months ago #1121

  • amohedas
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[METP - 12M O/S Clean Shell, Owner looking for R/M]
Outstanding Shares: 12,174,264 mil
Float: 7,510,675 mil
Resricted Shares: 4,663,589 mil

METP News from CEO Posted by: EdFrankie
In reply to: None Date:8/23/2006 1:58:57 PM
Post #of 9994

Re METP, just spoke with the CEO, Kip Eardley. They are actively pursuing a RM and their attorney has a company in mind. One of Kip's initial goals was to land a company that had a minimum of 10M-30M in sales (but he would not say if that was the case with the company the attorney's have identified). He commented that it is still very early and there DD to be completed.

He has worked these deals in the past so he is well versed in the game. I mentioned that since the OS was at 12M, would that help minimize a RS. He indicated that their would mostly likely be an RS but that they would work to keep it low so that shareholders would stand the best chance at getting the most in value. He feels that anyone who gets in at the current range should make out well.

I asked if they hoped to have an RM within O6' and he said yes and repeated that they are actively working on it. He brought up the fact that METP used to be in the natural gas auto conversion business and we both commented how that would be rec'd in today's market.

All in all, friendly guy but pretty tight-lipped.

One last thing, he didn't know the exact share structure numbers and was waiting for a letter from the TA but thought 12M was about right (Pat you found out before he did). I asked if he had any plans to PR their intentions and he said he was waiting to get all the info together but felt that it was a good idea. So maybe we'll see a PR in the near future ;-)
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