Mind Technologies, Inc. (Pink Sheets: MTEK), announced this morning that the name and symbol change is now complete. The symbol for the Company has changed from “JEDM” to “MTEK” to better reflect the name and business of the Company.
This news is very significant to shareholders due to the fact that the Company’s CUSIP number has also been changed, which requires all old certificates to be replaced with the new ones. When this occurs, any individuals, firms or market makers that are “short” shares of MTEK, will have to cover their position by buying back shares in the open market.
The Company has been very conscious of our shareholders’ concerns regarding this matter and has done everything possible to overcome this injustice in the marketplace. We encourage all shareholders to now take action by supporting the stock in the open market and spreading the word to others interested in becoming shareholders of MTEK. If the stock continues to climb, it will force a “short squeeze” to those who have to cover their positions at higher prices in the open market, compounding the buy-side demand for MTEK.