Is it possible that the seller of these larger trades will be investigated by our ( Auryn’s) forensic lawyers ?
3 Likes
Your share price blow by blow commentary is not going to change reality. How much are they paying Kevin? Also, how much money do you imagine MDMN has to spend on legal proceedings at this time? I will answer…Kevin gets about as close to zero as you can get and MDMN has squat to spend on lawyers.
Auryn has been late in responding to what they said they would do at the shareholder meeting. At least we got an update on that yesterday.
I can’t imagine anyone wanting to sell at these prices…this is now a sock drawer investment as one poster mentioned many years ago.
2 Likes
Just because Kevin isn’t being paid does not mean he is siting in an empty chair. He doesn’t seem the type to sit around doing nothing while his considerable investment and loyal shareholders portfolios are damaged by fraud. There are enough well placed and pissed off shareholders to front legal fees. We will be informed of all significant developments. Slow and steady progress is being made. MOO…
8 Likes
I agree that there are pissed off shareholders with large positions. I don’t know that I agree that these same shareholders are willing to front legal fees though. I am aware that Greg Chaplin fronted the seed money for the forensic lawyers…but he is no longer a shareholder and anger will take you only so far…my bet is he won’t continue to pay with zero to gain financially going forward. Greg is not stupid, he will walk vs. continue to feed the hungry/greedy lawyers.
I think we all know that MDMN is cash strapped and we should not be counting on the kindness of strangers to help sort these legal issues. Auryn made it very clear that they could care less if one of their partners has a money issue…so don’t count on them to pay anytime soon.
Kevin may not be an empty chair, but he certainly does not have any sort of company resources to call on other than the kindness of strangers. My understanding is that he is not a lawyer…not here in the US and certainly not in Canada. How much can the guy do with pen, paper and e-mail…about as much as I can on these board. IMO.
However, our Chairman of the Board, Gary Goodin IS a lawyer and told me that Les being in Canada is not a problem. And perhaps Kevin has taken over a lot of the mundane chores so Gary can concentrate on the legal stuff.
3 Likes
Often when you see two transactions for the exact same size right next to each other it is usually double counting in the penny world… If the transaction is electronic or goes through an automated exchange a buy and a sell match usually counts as one transaction, but when a transaction does not go through the automated system and goes directly to the MM as a manual transaction the sell counts as one transaction and the buy counts as another, thus the double counting that often occurs on penny stocks. FYI
There are at least 500m shares still being held by individuals/entities that participated in illegal/illegitimate private placements. If this hasn’t been done already, this first obvious step, requiring nothing more than a letter drafted by a lawyer, would be to notify said individuals/entities that they are holding shares they don’t have legal title to. Those share need to be returned along with any profits associated with shares sold (at a profit). If the shares have been sold they can be bought back (at ridiculously low levels). This can be done now or will be legally mandated later. It’s clear to me that this “notification” has not been sent out based on the complete absence of buying. Why has this not happened yet?
Second question. Why is the only lawsuit at present one where Les is suing MDMN? If MDMN doesn’t file suit again Les, freeze his assets, and begin the process of putting him in jail, there are enough shareholders with the means to do so. I think many of us are scratching our heads wondering what is taking so long. Until you freeze this guys assets he can and will sell shares of MDMN and/or encourage his minions to do the same. Don’t have the money to hire the right lawyers? This couldn’t be an easier case. Hire someone who will take a piece of whatever is recovered.
19 Likes
True, but in this case the trades were not identical. While each share count is the same, the price of the first trade listed is different from the price of the second. If both trades had been identical then it would be easier for us to “guess” (that would have been my guess also) that it was the same lot being bought that was sold, but in this case it has to be listed as two different trades with the two different price amounts.
He’s a lawyer and also one of Les’ handpicked grunts. All of the directors, previous and current, are liable for Les’ actions. How incentivized is someone to incriminate themself? I’ve stated previously, Gary is not the right person for this job and needs to be removed. Based on the progress we’ve seen to date, I’d argue my original assertion has proven to be accurate.
11 Likes
Price of one is the sell and the price of the other is a buy the prices do not have to be the same. FYI
“MEDINAH has retained the law firm of Holland & Hart to represent it and direct an independent forensic investigation into its financial and share issues.”
I have, in the past, placed a limit order to purchase a million shares. The order was filled showing more than one lot traded, at more than one price and each executed at different times. In that case it was one buyer and one or more sellers.
Yesterdays trades shown after hours could have been one order filled with two different lots or one sell and one buy with the broker putting the price difference in his pocket. We will never really know either way, unless the seller and/or buyer wishes to come forward and tell us. Either way, someone sold and someone bought and one of them got a good deal. Now it’s just a waiting game to see how long it takes to find out which one it was.
John, are you in frequent contact with Kevin stating your ideas and opinions? If not, you should be for all our sakes.
3 Likes
Don & CHG;
There are many who appreciate you putting up the Level 2.
For those who don’t have it (mostly Canucks), it allows us to buy a certain amount of shares without sitting on the bid.
It also gives a good view of what the ‘MDMN market’ is currently doing … good bid pressure / large sell pressure.
Thanks from all of us.
GO MEDINAH !
Rod
2 Likes
Kevin is more limited in what he can and can’t discuss in his new role. I respect his position and have confidence in him. I don’t mind the share price being in the gutter. I’ll look to add in January. Nothing is going to move this thing until the capital structure is sorted out.
10 Likes
There is one very glaring sentiment missing from all of the communications we have received thus far: OUTRAGE. Where is that sentiment from Ayrun and Medinah? Les is still at it and the silence on this subject from both of these parties is deafening. Something’s not right here. Very difficult to trust anybody in management right now.
Vark
7 Likes
You, like the rest of the shareholders here, don’t really know what action is and is not being taken by Medinah management. Because you and I are not privileged to know what is going on behind the silence does not mean action is not moving forward to resolve and correct the issues. We know what we have been told and that is:
" Medinah has contacted the SEC and FINRA and filed a formal complaints regarding these discrepancies."
“The Board is continuing its investigation and will not stop until satisfied that all important facts are known.”
“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.”
“MEDINAH has retained the law firm of Holland & Hart to represent it and direct an independent forensic investigation into its financial and share issues. Additionally, the firm will prosecute all necessary legal actions and will defend MEDINAH in the pending Okanadian legal action. J Stephen Peek and Holly Stein Sollod will serve as the lead attorneys representing MEDINAH.”
“MEDINAH intends to cancel the common and preferred shares returned to it, thereby reducing its shares issued and outstanding. As soon as possible, MEDINAH will reduce its authorized shares commensurately.”
I doubt there is anything of substance for Medinah to announce, at this time, on the subject that would not be anything other than an early announcement for opposing counsel to review before we all read it in court filings.
1 Like
I agree. But les is still suing Medinah. Time is ticking for Medinah to respond if they haven’t already. It would nice if management came out and disclosed how we are going to attack this matter if we are.
I know Chapin returned all his shares, but did Vittal as promise return his shares as well? I do not recall seeing that.
3 Likes