Ekaterina Zelenkova

Matech Corp. (OTC:MTCH) Stock Throws Investors Under the Bridge

by Ekaterina Zelenkova April 8, 2010
MTCH_under_milwaukee_bridge1.pngYesterday, investors were not favorable to Matech Corp. (OTC:MTCH, MTCH message board) stock. Led by a successful promotional campaign, more than 150 million shares changed hands. The volume traded surpassed the amount of reported outstanding common stock of 31 million.

Despite investor interest as demonstarted by the volume, the share price tumbled by $0.0029, or 29.6%, to $0.0069.

Yesterday was the first day that MTCH stock was promoted since January. Even the strong attempts of the stock promoter were not able to convince investors to pay a better price for the stock.

For yesterday's stock promotional campaign MTCH paid a compensation of forty-five thousand dollars that brought to MTCH only minimal results.

Maybe some investors still remember the crucial effect of the MTCH stock promotion from last October. Almost all month, shares were promoted by six companies. The compensation paid by MTCH amounts $120 000.

MTCH_price_chart.jpgA lot of investors, attracted by promises for huge gains jumped into the battle with a spike of hope for profits. Maybe, some of them still count the losses of MTCH stock decline. The chart here shows exactly this moment.

The chart presents also some other facts. Investors, afraid of repeating events from last year. Seen is a swollen volume traded yesterday, accompanied by investors dumping.

Maybe, investors understood that MTCH stock may throw their profits under the bridge of fortune, or just under the Milwaukee bridge.

Parallel to the promotional stock campaign from yesterday was the MTCH's CEO press release. It was done in connection with a temporarily closing of the Milwaukee bridge.

Tony Cataldo, Chairman & CEO of MTCH said: "It is for this reason that reliable crack- detecting technologies like our Electrochemical Fatigue Sensor (EFS) must play a critical role in revitalizing America's infrastructure and protecting its citizens."

The optimism and the hope of Mr. Cataldo were not enough to meet the appreciation of investors yesterday.

Here some facts from last September about the company, that confirm investors pessimism. Updated information was not available, due to the MTCH delay in financial reporting.

Since 1983 (the inception) through September 2009 MTCH reports:

  • Net loss - more than $380 millions
  • Property and equipment valued - $138,618
  • Patent, License agreement and website, pledged substantially - $957
  • Adopted practice of issuing stock for services when ever necessary.

Comments 3

1. Guest
November 26, 2015, 03:37PM

Quotes What happen with this company? Is closed.

2. Guest
November 24, 2015, 02:39PM

Quotes Pennystocks are the worst, matech spongetech BIG SCAM . Like a mafia. Manuel

3. Guest
October 14, 2015, 08:00PM

Quotes Matech by Cataldo director is a SCAM

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