This one is probably straightforward, but I'm not missing something with the newtheorem environment and using newcounter. I would like a new environment on its own counter like "Environment M.1", but I get "Environment M.0.1" in the following.
\documentclass{article}
\newcounter{mycounter}
\renewcommand{\themycounter}{M.\arabic{mycounter}}
\newtheorem{myenv}{Environment}[mycounter]
\begin{document}
\begin{myenv}[Some Stuff]
Here are some comments.
\end{myenv}
\end{document}