Preparation for a Blockchain future?
Mechanical Technology (MKTY) $1.15
Aug 25, 2020 Written by Tom Linzmeier of Tom’s Blog
There is No Way on God’s Green Earth, that I believe Rick Jones resigns in less than three weeks on his own volition.
Resignation of MKTY President effective September 2020
Mechanical Technology, Incorporated (“MTI” or the “Company”), a publicly traded company (OTC Pink: MKTY) headquartered in Albany, New York, announces that Mr. Rick Jones has notified the MTI Board that he will be resigning from his position as President and Chief Executive Officer effective September 11, 2020.
“Since undertaking the combined role of President, CEO and CFO in January 2017, I am incredibly proud of the accomplishments we have achieved here at MTI, including the current three-year stretch of profitability, the first ever cash dividend to our shareholders and the most recent record-setting orders activity at our MTI Instruments subsidiary,” said Mr. Jones. “After nearly 28 years with the Company, it is now time for me to move on to the next opportunity in my career and I leave MTI on solid footing, with a healthy cash balance, a record orders backlog and the support of an amazing team dedicated to the continuing success of the organization. I would like to thank the MTI Board of Directors — both current and past members — for all the guidance and support over the years and I look forward to following the future growth of MTI!”
The Company will announce a new President/CEO at a later date.
The future of MKTY is in Blockchain and Crypto currency. I will speculate – and I know nothing about this – that the new President / CEO will have a background in Bitcoin and Crypto. The fact that Rick is out in less than three weeks tells me the person has already been selected. A new chapter is beginning at MKTY. It would not surprise me to see the stock jump on the news of the new President / CEO.
Our two price goals are based on Market Cap Valuation. We believe $50 million market cap valuation has been earned by MKTY and will now be recognized.
- $50 million Market Cap is a share price target of $4.40
- $100 million Market Cap is not out of the discussion so double that price target goal to $8.80
- Expect a $5 million secondary offering so that might temper of targets but would be great publicity for MKTY stock. This is also speculation on my part – It is simply what I would do if running MKTY.
- Earnings could be in the $0.15 to $0.20 per share in the next twelve months.
Good Luck… NO MARKET ORDERS! Too thinly traded.
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