MSE sale approved

2012-10-08T18:00:00Z 2012-10-08T18:01:14Z MSE sale approvedBy George Plaven of The Montana Standard Montana Standard

The sale of Butte’s MSE Technology, Inc. to the Florida-based Global Technologies Group, Inc. has been accepted and approved, according to an announcement Monday.

Jim Fallacaro, president of Global Technologies, announced his company will take over the operation of MSE and all subsidiaries effective Oct. 25.

Terms of the sale are not immediately available, but were approved by the boards of directors of the MERDI, MSE and MSE Technology Applications, Inc.

“We are looking forward to commencing the operation of MSE Inc. this month and started the transition last week,” Fallacaro said in his announcement. “We appreciate the support we have gotten not only from all involved with the agreements, the employee and the townspeople of Butte, and from the representatives of the state and federal government.”

Fallacaro declined further comment when contacted by The Montana Standard, and did not elaborate on specific terms of the sale.

Check back at mtstandard.com for more details on this story as they are available.

-- Reporter George Plaven may be reached at 496-5597, or via email at george.plaven@lee.net. Follow him at Twitter.com/@George_Plaven.  

Copyright 2015 Montana Standard. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

(6) Comments

  1. Finias
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    Finias - October 09, 2012 6:45 am
    The suspension ended after 10 days (they always do no matter what) The stock then trades in a very crippled manner as market makers are not allowed to quote it and there is no bid/offer published. A suspension of an OTC stock is essentially a death sentence.
    They have not submitted anything as far as financials yet. I personally expect nothing to be filed. In my opinion there are several things in the past that if put in official filings would cause fraud charges to be laid against the company and CEO. Even without filings it may happen, they just make it more likely.
  2. Comparadun2
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    Comparadun2 - October 08, 2012 8:24 pm
    Indeed,

    Has GTGP gotten off the stock trading suspension now? Did they come up with the finnancials that they had not submitted to the SEC? Plus of course, we know that there has been a similar announcement in the past, and the deal was put off for some time over their stock tradiing problems.
  3. Brady23
    Report Abuse
    Brady23 - October 08, 2012 4:26 pm
    Win-Win-Win for Butte, the company, and the shareholders alike. It will be good to see this technology used to keep our air and soil CLEAN!
  4. Brady23
    Report Abuse
    Brady23 - October 08, 2012 4:18 pm
    Wow this is a great deal for the local area, environmentalists, as well as shareholders. This makes sense on all levels, and everyone is going to benefit from this greatly. Butte can be PROUD, members of the company can be PROUD, and yes even all the shareholders can be very PROUD of what is going on here. Great stuff, thanks!!
  5. JeffM
    Report Abuse
    JeffM - October 08, 2012 4:04 pm
    I see this as a positive for the community, as there is someone who was able to recognize the value and know-how that MSE provides and wanted to ensure that it remains firmly entrenched in the area (as opposed to moving the operations elsewhere).
  6. Finias
    Report Abuse
    Finias - October 08, 2012 12:13 pm
    I hope you folks keep a close eye on this. I have seen quite a few of these penny stock deals over the years and have yet to see one not end badly for the community.
    The recent suspension of the stock by the SEC and failing to file financials as required is a big, big red flag. I would not be surprised if SEC litigation occurs in the future. The shareholders of GTGP do not even know what they own or if they even have any more than a tiny interest in MSE or any at all perhaps.

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