The "revised" EC letter

The guidance I provided for writing a letter on 4/16/10 needs to be updated.

MMPI is currently working to get its Second Amended Plan confirmed.

Item 3 needs to be freshened up. Here are the most up-to-date areas of concern:

• The Second Amended Plan contemplates wiping out existing equityholders and infusing New Equity via a private placement to "accredited investors".
• Current management controls 51.9 percent of MMPI equity. The plan represents a "management plan".
• The Official Unsecured Creditors Committee had a potential plan proponent that was willing to to pay more than $10 million for the equity in MMPI, pay all unsecured creditors in full on the Effective Date and provide better treatment for secured creditors. The majority of members on this committee are not interested in pursuing any other plan. The OUCC was the only other party who can propose a plan.

InvestorsHub - the best place to keep up with breaking news and information

I view iHub like a news outlet such as CNBC or Fox Business News. Members act as "correspondents". Most people are excellent in posting recent news or sharing quality ideas.

One word of caution - we may not always agree. You should always verify facts or figures on your own.

Go here: http://investorshub.advfn.com/boards/board.aspx?board_id=15242

Final batch of letters sent

The last 128 letters were sent this morning. I expect most shareholders will receive one by 6/02/10. This would give them more than one week to deliver a letter to the United States Trustee in time for the 6/11/10 hearing.

MMPI shareholders live worldwide

Not only can MMPI shareholders be found from Alaska to Wyoming but also in Belgium, Germany, Jordan, Kuwait, the Philippines and Saudi Arabia just to name a few. Several of those in the Middle East appear to be sovereign wealth funds.

The remaining batch of letters will be sent out this weekend. Why did I stop, you ask? It is all about timing. I am hopeful each inbound letter to the United States Trustee will arrive just prior to the hearings on 6/11/10.

The bright yellow paper must make a difference!

MMPI shareholders are not only sending letters to the United States Trustee, but also sending copies to me along with personal notes.

I am not sure where this effort will lead us, but "thank you" to those who took the time to write.

Letters going out to shareholders beginning tomorrow

The first 50 letters are going out in the morning. Hopefully, the bright yellow paper will cause shareholders to react.

Letters enroute

The EC letters I collected were sent to the United States Trustee today. I also sent a letter to Judge Kathleen Thompson detailing facts that could potentially lead to the appointment of a Chapter 11 Trustee.

Both letters were sent via Express Mail. The ETA is 3:00 p.m. on Tuesday.