Massive Dynamics (PINK:MSSD) Rethink Their Strategy
The whole thing started exactly a month ago when the first emails paid by Stock Mister came flying in. The pumpers were mightily optimistic and they talked at length about the potential of the company, their beautiful charts, the experienced management team, the new “multi billion dollar business” that they are getting into, the future of human technological progress etc. We did a thorough check on Massive Dynamics (PINK:MSSD) and we weren’t impressed.
Then MSSD themselves started spewing out press releases like mad and after entering the 3D printing business, they also set their sights on the 3D imaging industry. Some acquisitions took place, intellectual property was transferred to MSSD but we got even more skeptical when we discovered that MSSD‘s new wholly owned subsidiary, Real-View 3D, don’t have any products and they are only too happy to admit that they will need $1.2 million in order to complete their 3D imaging devices.
Our suspicion grew further when we found the connection between MSSD and Kylemore Corp., who seem to be a toxic financing provider for other penny stock companies. Like, for example, Chimera Energy Corp (PINK:CHMR) – a company whose shares got suspended by the SEC because of doubts as to the legitimacy of their press releases.
And we can’t say that MSSD were the definition of credible when it came to PR’s. We wrote about a number of discrepancies that we found in their announcements and we also spotted some rather funny references to popular culture which might have been just a series of coincidences, but having in mind the facts that we previously outlined, we were starting to get a feeling that MSSD‘s officers are putting on a comedy show for us.
Investors weren’t laughing, though. MSSD were losing ground at a lightning pace and, although the whole proceedings was taken up by a number of websites like CNET.com, some inexperienced traders were still falling for the promises in the emails. The result? 72% down for the period between March 26 and April 24.
Yesterday, however, things changed. The ticker gained 20% – something that it hadn’t done in a while – and there was a reason for the renewed trust in MSSD. But is it good enough?
Well, it turned out that there is a change in the management team, at least that’s what the press release is telling us. Mr. Oscar Hines is resigning from his position as CEO of MSSD and the person who will be taking over is called Jonathan J. Howard who is also the founder and CEO of Real-View 3D (the company that needs $1.2 million to finish their products).
Apparently, investors waited for this move to jump in since Mr. Hines reputation was all but destroyed during the last couple of days with articles and videos of him flying all around the Internet.
We can still remember the emails (and we still keep them) saying how well prepared Mr. Hines is at leading the company to the forefront of the 3D Printing revolution and while we must admit that we were a bit dubious back then, right now, having seen the video of him talking about how Diet Coke will make you fat, we understand just how misleading the pumpers’ claims have been.
Mr. Hines is no longer in control and that’s a good thing, right? Well, again, we’re not so sure. Our main concern is that investors have been mislead once before, and right now, the descriptions of Mr. Howard’s biography sound just as exciting as the ones for Mr. Hines did a month ago. Still, having scoured through the first six pages of Google Search, we can only find him in MSSD‘s press releases. Does that mean that history is about to repeat itself? Only time will tell.
