Meretec and Meyado default on debt

Meretec and Meyado default on debt

http://meretec.joeuser.com/
from JoeUser Forums
On Feb 15, 2005 Meretec and Meyado defaulted on their debt for the Meretec zinking process. This event has caused Meyado to go on a marketing drive to cover over the issue. They have created the website www.meretec.com putting a glossy outlook on MITL / Meretec. They also issued legal suits against sites putting a negative spin on the situation. Martin Young, the director of both Meretec and Meyado has been desperate to salvage his reputation out of the debacle.
welcome
7,555 views 7 replies
Reply #1 from JoeUser Forums Top

Martin Young couldn't afford a Marks and Sparks suit, never mind a bloody law suit.

Reply #2 from JoeUser Forums Top
What I would like to now is what involvement Roy Pearce has in
the company - I can remember what he did or didn't do with
Lucus (Feel the firm would be much better off with out his
involvement)
Sins of a Solar Empire II
Reply #3 from JoeUser Forums Top
I Meet Roy Pearce once at Barkshire Polo club (not an evening to remember), not sure what Planet he was on!!! All I can say is since M.Y. took over (don't forget he was tricked into this by M.Lucas) we now have 20% of something compared to the 100% we had in nothing. This company was in debt , badly ran and advised until Martin believed in it and backed it with money - since then news has been slow but so much damage was done in the past (Take a look into past dealings of M.L. and R.P - very interesting reading) that who knows what to trust or who.

Has anyone else meet Pearce - would love to hear your comments and thoughts
Reply #4 from JoeUser Forums Top
Has anyone heard anymore about the status of Meretec. Were the bonds every paid back. They said they raised another $10 mln in pre-ipo financing to pay back the debt but nto sure if that happened. Has any heard of anyone from the Catalyst fund being able to get their hands on any of their money. Very interested in hearing from people who have invested with them. Thanks
Reply #5 from JoeUser Forums Top
Has anyone heard anymore about the status of Meretec. Were the bonds every paid back. They said they raised another $10 mln in pre-ipo financing to pay back the debt but nto sure if that happened. Has any heard of anyone from the Catalyst fund being able to get their hands on any of their money. Very interested in hearing from people who have invested with them. Thanks
Reply #6 from Stardock Forums Top

any one got any further information on this... I have invested and would love to hear if anyone has had any money back...

Reply #7 from Stardock Forums Top

Someone else is blogging about it here http://smogsblog.wordpress.com/2009/11/09/meyado-meretec-mitl-martin-young-a-cautionary-tale/

 

And a group seems to be getting organized here: http://www.forespoke.com

 

Let's hope they come to something.