Medinah Minerals (MDMN) - 2016 Q4- General Discussion

I found this on Linkedin and thought it might be interesting:

Vittal Karra

Founder
Vio Cabs
May 2015 – June 2016 (1 year 2 months)Hyderabad Area, India
Started an on demand Uber like cab application. Had employees and consultants. The software was completed on the driver process side. Developed a data base of over 300 drivers with analytics capabilities. The drivers were keen on participating in the initial roll out of the app. Due to regulatory and funding constraints had to exit.

Public or private company?

My point is that Vittal left MDMN on June 30, 2016, so it is obvious that he really did not have his eye on the ball!

1 Like

Well if I had as much as he had in MDMN, my eye would be on the ball. Just saying

And did he leave any investors on the hook in India? Might answer the character questions.

He was there for a family illness and death.

When it comes to honesty of any of the pass board now I’m from Missouri!

1 Like

The real question is how much does he have in MDNM. We know he owns 75 million shares, but I would like to know how he got them and how much he paid.

Ask him at tha shareholder meeting

1 Like

Is it safe to say that dividends likely won’t be given out until the shares issues has been settled/solved/ recalled so that the dividend money isn’t spread out too thin but rather consolidated to the number of shares that there actually should be (1.3/1.5 billion?). If MDMN issued a dividend and then had to somehow claw back shares from whoever, how would the dividend money be recoup? By law court fiat that whoever is responsible pay back shares and all relevant dividends, plus some sort of retribution/damages fee, and jail!!

The old adage “if you don’t have anything nice to say – don’t say anything at all” is sure stifling conversation around here.

LOL. It is nice that the forum has returned to an state of civility. I don’t expect there will be much to discuss until after the information meeting.

Suggestion: I know that there won’t be any video or conference call set up for the meeting but could the mods open up a separate thread and allow people to live post the meeting? It won’t be as good as a video or phone but better than nothing.

2 Likes

TO?

Really? Do we have assurances at the next official SHM that there will be proxy voting for all shareholders having positions in street name?

I was looking at Transfer Agent Liability and found this link:
http://www.stai.org/pdfs/2016-04-13-sta-comment-re-release-34-76743-file-s7-27-15.pdf

pages 2-12 are interesting, but I still don’t know if the Day brothers have E&O or a liability coverage.
Maybe someone with more knowledge can comment.
Transfer agents do not appear to be well regulated, especially with micro stock.
http://finops.co/investments/transfer-agents-preventing-fraud-a-delicate-balancing-act/

Even good notes would be appreciated…course if Docs there, we’re in for a novel :wink:

2 Likes

This would be cool. I may be driving down from SLC

1 Like

It would be similar to live tweeting it but without the character limit.

Got an email update from Amarant today(!). Do we still own those shares, anyone know?

90M shares of Alluvia still show up as an asset in the financial filings from Aug 15, 2016 for the period ending June 30,2016.

Note the following sentence has been removed from former filings:

Also, note that in the asset section of the balance sheet listing the Alluvia shares there is a reference to NOTE 6, which is an error carried forward from former filings. The information is in Note 10.

Amarant has been slowly going through a reorganization / refinancialization after its disasters from 2012/2014. Note there are still legal items ongoing in Sweden etc. on those issues. esp. in relation to GKL Capital. They have settled some debts apparently via issuance of shares and have put up a new web site etc. Amarant claims to hold 37% of Alluvia Mining shares. It is unclear at this point what percentage 90M Alluvia shares represents.

Also, sadly, I noted that Amarant’s new website colors and logo are disappointingly similar to Auryn’s & Medinah’s. Purely a coincidence I’m sure. Alluvia Mining’s website has disappeared entirely. Apparently the domain was relinquished.

1 Like