I have been following your Romper Room statements, have YOU! (read sarcastic attacks)
Again you miss the point and no one is asking you to defend “IT”, in fact we look forward to your informative points and posts. Content and context, two completely different points.
There were still many thinking/stating that we have not seen all of the components of the contract, I would hope the statement BY MDMN officially puts that to rest. I do not think that is amateurish in nature when the rumors supposedly came from an insider, not on the BOD, squash it!! moo…
I just want to throw this out there. Wiz, please consider it constructive criticism. As I read through the last update for the first time, I felt that the update was a bit unprofessional considering that there are so many good things in the here and now that could be focused on. My first thought was “you shouldn’t see this from a professional/producing company”. I thought everything in the update had been addressed through other updates OR there was no need to address certain issues since they had only been passed on through rumor.
Here’s my free advice (you’re the one getting paid a dollar a month so take if for what it’s worth ) don’t focus on the past or any rumors. I sensed that you were as frustrated as the majority here that these rumors keep popping up on occasion. But please, simply update us on the current information and any pertinent future events that need to be reported. I believe things have been great since AMC/Auryn/Masglas took the reins. I hope that you haven’t placed an undue burden on yourself to move the share price as previous insiders/posters here have. Give us the info we need. I personally need no more than that. Anytime the past gets brought up we devolve into 20+ needless posts. Lets learn from the awfulness that happened but focus on the bright future.
Thanks for all you’ve done. I’m closing on a house and may have some money to put into this thing soon!!!
Did it ever occur to you that just because you don’t consider a question as legitimate as the one you provide it does not mean that it automatically is less legitimate, just because you proclaim it to be. I personally consider the question you offer is an excellent question that I assume many would very much like to see the audited f/s. If the answer Medinah provides to it is yes, then again, I assume that many will be looking forward to seeing the audited f/s… I will also assume that some others will believe your question and the answer does not matter to them for there own reasons. Just because both the question and the answer might not matter to someone else does not make your question any less valid than those provided by others. Think about it…
Your questions are fair, but I think you need to be mindful of the following:
MDMN’s BOD is new. It appears they are sorting through the MDMN books on their own first and foremost. Concentrating time and resources for a financial audit will consume their time and resources - time and resources that are probably best spent organizing and building up the company.
Audited finances can be expensive. MrBubba might be able to add some commentary regarding what is involved from a time/cost/disruption standpoint. The company doesn’t have any money right now, is trying to minimize and eliminate dilution, and they will have to wait for revenues if they wish to pursue audited financials. Personally, I’d rather they concentrate their time and resources towards getting the company in order and minimize any dilution.
Related to #2, even though audited financials may be important to you and other shareholders, I imagine that it is not a priority item for the company at this time. I’m guessing they are more focused on getting revenues in order from mining first and foremost.
Companies trading on the OTC - Pink Sheet Current tier do not require audited financials. Because it is not a requirement, that also probably bumps it down on the list of the company’s priorities.
IMO I don’t think the company is going to pursue auditing their finances until it is required by them either for listing to higher exchange or if it is required for other purposes. However, this would be an excellent question to ask them at the shareholders’ meeting to gauge their response.
We own two assets ( 25% of Auryn, 15% of Nuoco ), there are no revenues, expenses are minimal and most of the debts have been settled. Lets become an actual operating company before we start to worry about audits.
Audited Financials are not much of a priority for a pink sheet company if/until there is actually positive money flow and an imperative to be moving to a higher exchange that requires one. Until then, the focus is on monetizing the claims and having working capital to advance projects. Long term planning may include the audit, but it is not a primary focus for the immediate advancement of the company, IMO. What will make the company legitimate for many is meeting, exceeding and increasing AURYN’s announced production goals of 5,000 ounces the 1st full quarter of production and 25,000 ounces during 2017.
[quote]who is going to invest in a pink sheet company with no money and a balance sheet with an unreliable valuation for its minority interest in a private company?[/quote]Auryn and MASGLAS.
[quote]time? The cpa firm takes care of the audit. You are making this out to be a huge undertaking. Its really not[/quote]The CPA firm would have to go back 20 years to figure out MDMN’s shoddy records in order to deliver the audited financials. And it would involve both MDMN as well as MMC. We’ve all been witness to how bad their record keeping has been over the years. And they’re not just going to dump a shoe box full of receipts on a CPA and say “OK, Have at it boys! See ya in Septmeber”. It would be costly and disruptive to the company and MDMN does not have any funds for this wasteful and currently unnecessary exercise in futility.
[quote]To me this screams, AMC has better things to worry about than protecting mdmn shareholder value.[/quote]Well then you are looking at it through a narrow and distorted lens.How about AMC builds shareholder value first? Or if they follow your plan of action…whoopee! MDMN has audited financials on the Pink Sheets…as rare as an albino alligator. And what do those audited financials show?..$0 revenues!!! and ~$200K+ in consulting fees and 20+ million more shares of dilution. OK Pink Sheet investors, on your marks, get set, start buying!!!
People have been wanting audited financials from MDMN for decades. Tell me, how would the audited financials have made a difference in MDMN’s share price all these years? The wasted money would’ve further diluted shareholders and we’d still have no revenues. Proving up the ADL and producing revenues is the only thing that will move this stock. If Auryn/MASGLAS decide to move to a higher exchange, or need to leverage their MDMN investment for a loan, or it is required for a tender offer, then audited financials make sense. Until then, it’s just putting lipstick on a pig.
[quote]See you guys just cant seem to smell a conflict of interest when you see one. AMC basically controls Medinah, and has no immediate interest in protecting mdmn shareholder value. [/quote]This makes no sense at all. How many times do you need to be told…AMC/MASGLAS is a shareholder in MDMN! The largest shareholder. Our interest is aligned with theirs. The only thing that isn’t aligned is your timeline and theirs. Frankly, that’s where the whole issue is. The rest is just noise. I’m sorry, but if you’re not willing or able to re-calibrate your expectations to the timeline of a legitimate mining company that has only begun building out a greenfield project, then you’re going to be constantly disappointed and pissed…regardless if MDMN’s finances have been audited or not.
zotron11h
"We own two assets ( 25% of Auryn, 15% of Nuoco ), there are no revenues, expenses are minimal and most of the debts have been settled. Lets become an actual operating company before we start to worry about audits."
What happened to the other assets MDMN paid millions of shares for such as Polo, Jota, Ciclon, and Medinah Gold
) don’t focus on the past or any rumors. I sensed that you were as frustrated as the majority here that these rumors keep popping up on occasion. But please, simply update us on the current information and any pertinent future events that need to be reported. I believe things have been great since AMC/Auryn/Masglas took the reins. I hope that you haven’t placed an undue burden on yourself to move the share price as previous insiders/posters here have. Give us the info we need. I personally need no more than that. Anytime the past gets brought up we devolve into 20+ needless posts. Lets learn from the awfulness that happened but focus on the bright future.
