Also, I am wondering if the Masgals, O’Callahan and Vittal shares are included in the Cede number. Seems like there is a lot of shares in cert form out there.
I guess the charity share drive for Larry Regis was bigger than we guessed lol.
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Finally!!! I have dreamed of this day. This parasite has been feeding off others from the beginning. It is a great relief to know he will finally be held accountable after all these years. The past collective efforts of shareholders to hold him accountable never worked. Thank you Auryn and Gary!!!
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Lastly, any divy calculation based on o/s, needs to be recalculated.
If we assume that Les got an average of 2 cents a share for 1.5 billion…did he really pocket $30+ million dollars?
Mr. Bubba, I appreciate your words of wisdom, but dancing around facts won’t move this issue. I doubt that the individuals involved would try to go after an Internet forum poster when that would only expose them to even more rigorous legal scrutinty.
The thing that puzzles me is how the people involved ever thought that they wouldn’t ultimately be caught.
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We would still be around .07 if Les was not selling shares…our Stock should go up slowly from here with production starting even with alot of authorized shares…this is depressing that we had guys like this on our board
“I totally disagree with MG,”
I suggest you do a little DD.
A lot of the assets can and will be recovered. Also, the other Directors of Medinah, past/present are also liable with a lot of assets that can be recovered for damages. They aren’t all hiding offshore.
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So who do you suppose is selling today??? Who is buying today???
We knew something was fishy with the price going down the last few years…now we know
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LOL, It is about time
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In the long run, as reprehensible as it is, as infuriating and galling as it is…it will ultimately be good news. CLEAN HOUSE.
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I don’t think Larry had anything to do with it. He was not strong enough to stand up to Les, but he was (IMO) honest, sincere and a good person. He asked for more transparency but it fell on the wrong person(s). His health steadily declined until the end. We all know what stress can do.
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Yup. But it won’t happen.
Those with a manager anger itch continue to scratch. It’s beyond me how any of the previous BOD are even still involved. Even Chapin has a ton of risk exposure. It will be interesting to see how many shares can be clawed back and returned to the Treasury.
Maybe those with Les on speed dial will need to reset their number to Federal prison. Hope so
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Les is Bogdan. Bogdan is Les.
It is sad that the BOD did not police Les. Now they will find themselves culpable.
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How was a person who wasn’t an officer of Medinah N.A. permitted to work with the transfer agent?
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We authorized 3B shares in 2012. So it’s not the authorized limit that was violated.
What was violated was the agreement with Auryn to cap at 1.5B, which I am sure makes them quite unhappy. So this is not firstly a matter of securities law but a matter of contract law, namely the legal status of the agreement with Auryn, it’s jurisdiction and enforceability etc.
Secondly, it is a matter of fraudulent reporting. MDMN has been reporting a false number in their 15c2-11 reports for a long time now. A real number, apparently, was passed from the transfer agent (ARTCO) thru Les who changed the number (it is alleged), and put a fake number into the reports. So that becomes a matter of U.S. securities law.
The next question is how could ARTCO not have known they were reporting one thing to Les and the number in the MDMN 15c2-11 public reports didn’t match? How likely is that? Hard drives and e-mails will be searched. If it is discovered that ARTCO was complicit or somehow cooperated and they are bonded then some significant recovery could occur there and ARTCO would be out of business undoubtedly. But that could be a long process.
Even if they recovered a few million $$$, no one is going to buy 1.5B shares on the open market. At best, some modest portion of that could be recovered, imo. So to some degree the damage is done to shareholders (including AMC) unfortunately. I’m sure there will be plenty of discussion in October as to what the best path forward is.
And: no wonder Mr. U and Les got along so well.
Maybe Les has a place in Sweden and with GKL (now Amarant Mining Ltd). The indictments are starting to flow after all this time: http://www.realtid.se/atal-efter-gkl-tillslag
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There’s no dancing around any facts. I’m glad they did an investigation and will be happy to see it resolved. I’m confident that management will proceed where warranted and am willing to give them the opportunity. Until then, I will keep my mouth shut and let them do the dirty work - and if I had competent evidence that would help them, I would most certainly volunteer it. If you wish to publish disparaging remarks on issues that have not yet been adjudicated, that’s your business. In the meantime, please be advised there is also exposure for publishing the remarks made by OTHERS that turn out to be untrue.
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shouldn’t this have a positive impact on the share price? in near future once the outstanding share price is adjusted?