Peter, I was joking. There had been previous rumors about some minor share discrepancies that were brushed of as shares given to Larry in a time of need. Those discrepancies pale in comparison.
I guess the good news is that CDCH just became twice as valuable as MDMN, assuming there werenât similar issues with their capital structure (which is unlikely given the share cap that has been in place). Additionally, the 15% of CDCH currently held by the âcrookedâ insiders can now be returned to CDCH. Another positive.
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You suck! 
What does this say about GC shouldnât he also be held responsible?
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Yes. I suspect there will be some sort of out of court settlement with him.
Hopefully, all his shares/debt will be cancelled for starters. An apologize from him would be nice to.
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CHG, the issue I was discussing is the fact that you approx. 1.5 billion shares that were issue but not authorized by the BOD of Medinah, at least per the PR. Some of those shares obviously have made it way into the DTC, so it does become securities issue as the DTC does not want unauthorized shares in Cede, regardless of whether they were issued under an existing A/S.
Secondly, I am not sure whether ARTCO is bonded. I donât think they are registered with the SEC which requires a bond. Heck, a company can be its own transfer agent if it wants, although the SEC frowns upon that.
The reporting in the quarterly and annuals fins is the least of my concern. We are not SEC registered and most anything goes with filings on the OTCMarkets.
Lastly, my guess, yes a guess, is that Les did all the books and got the control log from the T/A directly and gave the fins to Vittal to sign off on.
50% dilution is not going to be perceived as a positive. The assumption was that the âdecks had already been clearedâ with the closure of MDMN Chile. Unfortunately, those who have complained about the need to 'âmove onâ have no choice but acknowledge past misdeeds affecting isTODAY.
As I said previously, an audit was going to bring to light abuses beyond most folkâs wildest expectations and skepticism for those like Vittal, etc. was more than warranted as these individuals had oversight (complicit or not)
The silver lining (beyond the obvious benefits to CDCH) is that the stock has already discounted most of the pain from the actions of insiders. If there evidence of being able to claw back shares, we shouldnât go much lower from here while we wait for the fundamentals to play out.
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Hope to see a claw back of the Auryn stock issued to the Nucco owners as part of the settlement, since they were made up mostly of those culpable in the MDMN mess. The BOD at the time of the issuance are ultimately responsible, whether they knew about it or not.The put Les in a position to be able to deal with the Transfer Agent and did not double check on Lesâs representations.
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Was JJ involved in this too?
Just some questions to this reported discrepancy. Will these discrepancy shares , which I presume were fraudulently sold without any official authorization , be considered worthless? If these shares were sold by a rogue transfer agent and Les, you would think that the shareholders of these discrepancy/worthless shares, will have to collect the $ they paid for shares from Les?
I cannot see how MDMN/Auryn have to live with the additional share count if the share count was capped , which the transfer agent exceeded. And how would Les receive the proceeds from the sale of these discrepancy shares?
This discrepancy report today should have provided answers to some of these questions.
Hereâs the link:
http://www.otcmarkets.com/stock/MDMN/news/MEDINAH-Discovers-15c211-Discrepancies?id=139089&b=y
Wonder what he thinks of all those condescending updates released to us âwhiningâ shareholders. Ignoring questions sent to him, etc. Thought he was a security expert. Endless share selling never got his attention???
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If I recall the rumors correctly, Les created a Company called MMCâŚnot to be confused with Medinah Minerals Chile. (The phone at Lesâs office was always answered as MMC.) One should not be surprised if Les had private placements checks written out to MMC but that is not 100% confirmed as I was never personally involved in private placements with Medinah. Still, it would explain where the money wentâŚi.e. directly into his pocket. (This statement should be treated as entertainment purposes only.)
Remember when the Authorized was increase to 3 billion because it would help to protect us from a hostile take over. I guess the real reason was that Les had already been issuing stock and he was already running up against the 1.5 Billion share cap at the time. This was probably going on long before 2012.
I guess Lesâs boat had made it to the dock in the dark of night.
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Which mdmn representatives will be at informational meeting Oct 1st?
This Release today tells us why Kirkland left this company. He didnât want to involve himself with a bunch of crooks.
Thatâs a Fact!!!
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What are the chances that Auryn just walks away because the contract was invalidated?
In answering my own question, it would seem like it would be more likely that they would keep going given how much they have put into this, but I wouldnât put it past them to sue Medinah N. A. for damages caused by intentional breach of contract and fraud.
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**
> MEDINAH Discovers 15c211 Discrepancies
**
Aug 23, 2016
OTC Disclosure & News Service
Las Vegas, NV -
On June 16, 2016, the past and present Board of Directors of MEDINAH Minerals, Inc. (OTCMARKETS: MDMN) announced the initiation of a comprehensive analysis of MEDINAHâs books and records. On August 23, 2016, MEDINAH determined that there have been ongoing share issuance discrepancies with what was reported on MEDINAHâs 15c211s regarding the actual outstanding shares. Today we contacted the SEC and FINRA and are filing formal complaints regarding these discrepancies.
The current 15c211 as filed on August 15, 2016, can no longer be relied upon. The Company will be filing corrected quarterly statements as soon as practicable. Although the investigation is not complete, it appears that the representative of Medinah Mining Chile was engaged in the sale and/or allocation of primary shares without the knowledge of past and present Directors and Officers of the Company. Additionally, it does not appear that these inappropriate transactions were for the financial benefit of MEDINAH. The Board is continuing its investigation and will not stop until satisfied that all important facts are known.
The current capital share structure based on reports from the American Registrar & Transfer Company is:
Common Shares
Authorized: 3,000,000,000
Outstanding: 2,996,448,498
Preferred Shares
Authorized: 100,000,000
Outstanding: 4,122,200
Significant Shareholders
CEDE & Co: 2,179,197,709
MASGLAS Limited: 218,783,318
Jim OâCallaghan: 157,000,000
Vittal Karra: 75,157,222
MEDINAH management and the Board of Directors are committed to responsible and accurate financial reporting. We will work tirelessly to redact, rescind and return to the Company all shares inappropriately issued. Further, we will use all means at our disposal to seek redress from responsible parties and will cooperate with law enforcement agencies as needed.
This situation does not impact AURYN Mining Chile SpAâs ownership and development of the Altos de Lipangue project. Nor does it change MEDINAHâs 25,000,000 shares owned in AURYN.
MEDINAH management and the Board of Directors wishes to acknowledge the critical role played in this investigation by our partners AURYN Mining Chile SpA and its parent Company MASGLAS Limited. We are indebted to the leadership they provide as MEDINAH progresses toward financial sustainability.
Sincerely,
Gary P. Goodin, Esq.
President & CEO
MEDINAH Minerals, Inc.
I donât think Les will be at the Informational Meeting to explain this one! 
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Market does not like that release! Once again the bleeding is happening.
Whoa!!! I donât think they will try and unwind the contract at all. I think they will march forward with the investigation and leave it to the authorities to handle, although it would take the DOJ to press criminal charges it warranted.
I do, however, believe this type of stench makes a tender offer unlikely as I am sure they are just scratching the surface of all the dirt under the rug.
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