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.