The engines have fired up at last for MDX. ( BPRG ) At long last they are being recognised for the force they will become over the next two years. On the cusp of disclosing huge revenue-earning deals with Global pharmacists. These have been hinted at as being unrolled before the years end, but may be in the next days.You still have time to get in at a bargain-basement price before the SP takes off for real shortly.

OK luvvypacked the rod?

3dug - 24 Jul'09 - 22:07 - 10751 of 10788


This is Gary Cressman here. I would like to state that since Barry and I have have taken over the company we have been working extremely hard on the focus of the company. We believe we are assembling a group around us to exploit the technologies the company has in a fast growing market.
The action that has been taken today is simply to address the following issue: the take up of the loan note has not been one to ensure its success. We have therefore varied the proposed terms of the conversion to encourage people to subscribe to the issue. Nothing else has changed. The variation in the proposed terms means that those people who subscribe will be relatively better off than those people who dont. If everybody subscribed in amounts pro rata to their shareholding then the offer would not be any different to the offer at the higher price. If the minimum size of 2500 is a problem for shareholders please e-mail us at bjm@meldexinternational.com stating the amount you wish to subscribe. The company will try to find an acceptable solution to this. The minimum issue size was one that was negotiated with our lawyers and in no way was an attempt to disenfranchise smaller shareholders,

Regards
Gary Cressman

3dug - 24 Jul'09 - 22:27 - 10773 of 10794


bb The directors are gratified by the backing given by shareholders and have changed the proposed convertibility terms of the note.
Shaid. We fulfilled our previously stated commitments and I would currently be unable to sell a core tech for 50m

What a shambles. Why didn't they consider that in the first place. Gordon Bennet, another MDX cock-up!

Alternatively:


m5 - 24 Jul'09 - 21:10 - 10656 of 10795


Well we can all sit back and do FA with a " well thats how it goes attitude" or we can push like feck. If we all stick together we can change things. There is nothing wrong with Geordie0's idea, lets make it happen. Off for a drink now and to beat the shit out of the cat!!


Heard both before.

3dug - 24 Jul'09 - 22:57 - 10806 of 10823


Rob, as stated above we will look into resolving the min subscription issue eg by setting up a newco to buy notes.
M5 I'm doing things as I see the best way to do them but appreciate your comments
Unvalidated user: I have written a very large chairman's letter on the company and our intentions. We have released statements as to what we are doing. I'm being as transparent as I reasonably can. I simply cannot discuss with you prices of core techs on a public board.

Like the rest of MDX the core techs are worth very little, no wonder he won't discuss.

3dug - 24 Jul'09 - 23:18 - 10819 of 10826


Geordie A Loan would be fine......I will be back tomorrow but please expand on the idea
Unvalidated user...You appear not to understand the concept of commercial confidentiality...thats why I can't be as transparent as you want. We have confidentiality agreements which are signed all the time. At the end it comes down to trust of your directors. If you don't trust me then just do something about it!

Anyone asked him about reducing the interest he charging mdx on his loan to them to the same rate as that of the scln or are you all waiting for me to do so ?

:-)

omg mufrat has turned up , lol

Dil has been banned from the MDX thread at the zoo for upsetting Barry , questions weren't to his liking.

Mufrat asking the same

Barry throwing a wobbly


B J Muncaster - 25 Jul'09 - 20:08 - 11333 of 11378

Atomic Keeton,

OK, so you're the new Wonderboy with all the answers. "Rip off alert". What a prat.

If they carry on like this, nobody will know what offer is on the table by Monday morning!

I always thought Atomic Keeton was female.

See one poster is going to raise 1.5m all by himself. Desperation indeed.

ptholden,

But if you check the pledges, it's off to a very slow start!

All credit to the guy for trying, he's a decent person, but once 2p was mentioned 10p was over.

Sadly it's arguments about this that are now splitting the support.

It will be interesting to see where the new money comes from!

Indeed Andy, just been reading some of the posts.
I think the private PIs are well and truly fooked, but then they probably have been for a while but haven't wanted to accept the inevitability of it all.
I see BJM has been asked some awkward questions, none of which have been answered. I think the manner in which BJM has placed the onus on PIs to save the company is close to despicable, preying on their financial woes and desperation to retrieve heavy losses. It's an awful situation to be in, damned if you do, damned if you don't. Personally I'd write it off and put any SLN funds into a safer stock and use that to regain lost ground, better than losing another lump.
I never thought for one moment 10p was a good deal, the company has pitiful sales, no profits, large debts and not much chance of changing any of that in the near future. 1p was my best guess and if they do manage to relist I think in view of recent news sub 1p.
I have little doubt BJM knew the SLN would fail, but he has to go through the motions to appease the masses. He can always say later that he tried and to some he'll remain a hero.

I think you are spot on, pth, especially your last comment.

Baz and Gaz had to be seen to be doing something, but the vast majority of the PI's are so far in that most couldn't even raise the 2500 if they wanted too. That is an unbevlievable position to be in given that these folk have thrown the kitchen sink at it. The SLN will probably fail by the 11th and that will leave the way clear for someone to come in and pick up the pieces. They are not putting these new people in place with a view to it being a listed company. These people are there whether it is listed or private. The zoo seem to think this helps their cause, which is rubbish IMO.

I remain amazed that Baz and Gaz continue to run company business on a public BB. I've never seen anything like it and probably never will again. The zoo has been used to further the aspirations of very, very few. ;-0 I don't know why they bother. There must be an ulterior motive, but I've not figured it out yet. As for this farcical court case; unless I've missed something, this is an expensive smokescreen at worst, and the chance to get a bit of cash back prior to going private at best.

Anyone with anything in this has lost, at best, the vast majority of their investment whatever happens now. I feel sorry for most, and feel happy others have been creamed - no secret there.

The desperation that any possible saving strategy engenders is palpable. Talk of selling something to get funds is met with an instant bandwagon of hope. But why would anyone wanting to buy the company entertain selling off a potentially lucrative future asset once it's in their hands - they wouldn't! ;-))

This story may run a wee bit longer, but the end is not far off "publicly".

All cynically IMO!

My thoughts exactly pt and one are two are begining to realise this over at the zoo.

The little guy is once again being screwed by MDX.

Great suggestion.

figure6 - 26 Jul'09 - 12:54 - 11611 of 11751

I will reiterate one point.A lot of you who haven't got 2500 cash will be able to get it if you ask your bank manager for a personal loan.(Tell them you want it for house repairs though not buying a SLN).Its easy to dismiss this option without giving it much thought (and it does involve effort).Think about it seriously you could save yourself dilution.If you already have 1000 in savings you only need borrow 1500 which at 20% interest would be less than 12 a week in repayments over 5 years.(2500 would be less that 20 a week).