$m(t)=\frac{t^2}{1-t^2},t<1$
The suggested answer provided by our teacher states that m(0)=0, so there's no real value with this function as mgf; hence mgf doesn't exist.
Intuitively I understand that $e^{xt}>0$ should always be true, so the expectation should always be positive under this transformation. But I still don't quite get what does "m(0)=0 so there's no real value to this function" and how this statement backed the conclusion "mgf does not exist".
For any mgf $M$, $M(0)=1$. Since $m(0)=0\ne 1=M(0)$, $m$ is not an mgf.