Had the same thought…!
Also, with all the returned shares, do we know how many are out there now?
They did not sell the shares but rather returned them to mdmn which reduced our outstanding shares by about 200M shares
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That is inaccurate.
On that day in August, at the Miami meeting Greg and Les agreed to cancel their debt claims against MDMN.
It was only later, shortly before the Vegas info meeting as I understand, that Vittal & Greg agreed to the various share and NUOCO ownership returns. And as pointed out, this amounted to returning them to the company, not selling them to the market.
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Thanks for the replies.
Apologies if my post came off as an accusation. Meant as a question.
Haven’t been paying as much attention lately so I had no idea wether the question had been covered prior.
Appreciate the clarity
.0095 les must be at it again
How does this guy leave the meeting agreeing to cancel debt but not the shares he stole??
I’ll say this again - in spite of all of the ballyhooing and fantastic information meeting, the one thing that has not been addressed is Les. As far as we know, Les still has an a**load of shares in various accounts and he continues to sell. Is there ANYTHING that the lawyers, SEC, RCMP, or BCSC can do to freeze his accounts? This must be done because you are correct, for all we know, he is selling his ill-gotten shares right now. He has ZERO cost basis, this is pure profit for him. We need him shut down or else we will head straight to the basement!!! We need some action now, we cannot afford to wait!
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Below .01 on big volume…I’m very nervous…Gold is also taking another beating…
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This guy would have not walked out of that meeting that day knowing that he forged signatures and stole shares! I would have made sure that it would have been taken care of that day one way or the other. The authorities should have been called.
Gary immediately contacted the SEC and filed a complaint fwiw
Great but this guy is still a free man! He still has shares selling and he’s killing our investment!
Auryn will still make there money one way or another even if this get resolved or not
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Someone has been watching for days over a million shares bid at 1 cent. They decided to sell 1.5 million into it knowing they would not drive the last of their shares down to .004. Not they were concerned about driving the price down, just concerned that the last of their shares would not trade at an unknown price.
0931est
And then the dump
Sorry if you had to sell but wish I had the funds to have been the buyer.
Yes and for that I commend him. That was a month ago and while I realize the SEC is very guarded with information, would it be possible for him to furnish a brief update on the progress of that complaint? He is an officer of the company and might get results.
FWIW, I filed a complaint with the SEC as well. Maybe if everyone on this board filed one, the volume alone my prod them to action. I didn’t complain against MDMN, I specifically filed a complaint against Les Price. I think this is a critical distinction if you chose to do this.
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As of the meeting, just a few days ago, there had been no response yet to Gary’s complaint.
CHG correctly explained what I meant to say when they disposed of debt and shares by giving them back. Divest was a poor choice to use in explaining they cancelled the debt (totaled $4.1M) and returned preferred shares and Greg transferred his 1.7M AURYN shares back to the treasury. Also, 110 M (?) common shares were returned. A news release in the way of a summary was expected this week if I’m not mistaken. There was much information at the meeting. Many contributed what went on at the meeting in various forms in the Informational Meeting News thread, now closed, but worth rereading IMO.
Continuing the discussion from October 1st, 2016 Informational Meeting News:
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I filled against medinah
Why? So the SEC will shut down MDMN?
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As far as the LDM tailings go since Les stole 1.5 billion shares of MDMN and JJ hasn’t stolen anything yet I would think he wouldn’t want to be left out in the stealing frenzy so he probably stole the LDM tailings because he thought he deserved them.
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Adding further insult to injuries to all shareholders - thank you.
What do you think an SEC action typically consists of?
Have you ever seen a pink sheet company that has the SEC take action against it?
Trading halt is the usual result (and is not what is needed for MDMN).
This is deemed appropriate in protecting the public interest, usually after shareholder complaints.
After a trading halt, effectively destroying a company, the SEC can issue a cease-and-desist proceedings to individuals, go after disgorgement and civil penalties which is paid directly to the SEC. How much to you expect to have returned from something like that? The SEC has administrative remedies, not criminal.
The plan as I understand it was to have the attorneys determine the facts and apply maximum leverage to the individuals responsible in order to claw-back and repair the share structure as much as possible. This was not vindictive in nature as much as it is to restore value back to the company:
Continuing the discussion from October 1st, 2016 Informational Meeting News:
After the attorneys accomplish whatever can be recovered through leverage and “goodwill” I would expect any evidence of forgery, fraudulent misrepresentations and registration violations that occurred in the sale of stock to be turned over to the appropriate authorities for criminal prosecution. Damages from these same individuals responsible for criminal malfeasance would then be liable in any civil proceeding that may further recover monetary damages. The company informing the SEC was an administrative step necessary in preserving the future integrity of the company and not vindictive in nature. Shareholder complaints are not constructive at this point, IMO.
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At the meeting it was hinted that the SEC has a pretty full plate. If they are satisfied that the Company has undertaken their own serious internal investigation they will await the results and then just piggyback off of them - especially with a pinksheet. Good or Bad I don’t think they are going to do too much with anyone’s complaint until H&H is done.
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