Where did the money come from?
The Russians. Sorry I couldn’t help myself with that softball.
Can’t wait for this company to completely go away! They need to come out with a reason on how this guy got a 1/2 a million dollars in 2018 for what?? Explain why? When is this crap going to stop!!
MDMN has no assets other than Auryn shares. It’s clear (to me at least) that the $462,000 came from Auryn or Masglas, since the current directors are essentially Auryn/Masglas folks.
Nothing to see here folks
or shares sold
If you go to the cashflow statement you will see the 462,000 shows up as expenses paid with stock fwiw.
That’s an obscene number of shares at current value
It was Auryn stock that was issued to the board of directors for the $462,000:
On October 1, 2018, 600,000 shares of AURYN stock were issued to the Board of Directors of Medinah for services performed.
After the share issuance, Medinah owns 16,102,400 shares of AUMC through its investment in AURYN
Does any on this board “REALLY” think that in the end we will get a fair shake? May I remind you where we sit now as almost everyone here is down over 90%…0023…
A shake? Maybe. Fair? No way in hell.
In March 2017 it was decided to compensate the 4 MDMN board members with 1million shares of Auryn stock ( 250,000 each )( 125,000 per year ) for services provided for hopefully no more than 2 years. 2017 was 3/4 of a year so they recieved 400,000 shares ( 100,000 each ) the balance of 600,000 ( 150,000 each ) was distributed for 2018 and it appears that MDMN will be put to sleep shortly. The $462,000 is simply the result of calculating the value of those shares on the date of transfer ( the publicly traded stock price of AUMC ) had the stock price been 10 cents on that day then the charge to the financials would have been $60,000.
Why it was determined to compensate them with 1 million shares is anyones guess.
I think American Sierra was a total screw job by Les, Larry and Goodin.
And never wake up!
Maybe they believe the stock is going to be worth something one day soon?
Still trying to hang on to any positive spin possible … getting worn out.
This still makes me want to throw up. I’ve got well into six figures invested in this and “if” we even get Auryn stock, I’ll end up with around 30,000 shares. They just skimmed some of our equity we’re supposed to get from the original deal. More dilution and lining their pockets.
I would accept it if they frickin did something to help our investment. They’ve yet to do anything but make our investment do anything but go down.
Are there things on the horizon, yes but that has been the nature of the ADL season since I started this 16 years ago.
I would like to get Wizard thoughts on this.
You forget he was one that was compensated!
Yes , you are correct Karl.
Except Wizard was trustworthy. The only honest one of the bunch(IMO) , to take over during the court for settlements with that parasite -IMO–, L.P. I don’t think you’d want Goodin as Pres after the american sierra &^^^*&^.
We didn’t get enough out of Les.
I wonder if he has any assets we could collectively go after.
Property, cars, etc