Don or anyone … can you put up the Level 2 for both Medinah and Cerro please.
Thanks,
Rod
Is interesting how he tries to get “his” side out when, according to MdDMN, Les was providing the disinformation of the outstanding share count.
Any comments on why the 10 million shares don’t come back until share price at .025?
1 Like
Thanks Don;
You’re a peach !
That is curious to me as well. What is the benefit of this and to whom and why?
1 Like
Whoever it is can’t give back what they don’t already have in their possession, IMO. They likely sold these free trading shares a long time ago and now need to buy them back. They know they are in “hot water” legally, and are a little more than anxious. Whoever they are can avoid excessive legal fees, and possibly avoid incarceration, for less than $100K. If they acquire shares now, they can even sell a few “extra” and pay off their attorney with the excess funds shortly before SP reaches 0.025!
2 Likes
I too have been trying to figure that one out and to no avail, since whether they have the shares, sold them, or went short I see absolutely no benefit to waiting for the price to hit .025 unless it has something to do with reporting a tax loss on their return, Even that did not really make any sense to me either, but I do believe it has something to do with either tax losses or gains.
1 Like
Maybe it has something to do with the price they were sold at?
Were they given a choice to turn in evidence against all the others? Incentive??
Les is still toast!!!
My drunken Beverly Hills scumbag attorney failed to show up for a slam dunk summary judgment hearing against another Oakland attorney and I lost a 2.5 million settlement!
I’m fairly certain he was paid off not to show?
Anything can happen in litigation and the best bet is usually to avoid it if possible!
Thanks for your input, but I personally have little confidence in the legal system.
It was likely a negotiation point.
I’m sure many of us have been in a position where we’ve been forced to sell or otherwise liquidate a stock prematurely due to exogenous events in our lives. Do any of us wish to sell MDMN now when there seems to be a likelihood of the stock moving forward and recouping some of our losses? That was likely part of the reason why IMO.
My not-so-far-fetched speculation: MDMN had the goods on this John Doe or at least strong enough evidence and a link to John Doe and Les Price. In order to strengthen its case and improve discovery, MDMN needs a certain amount of cooperation from John Doe in the case. So they cut a deal with John Doe and say, “You return all of your common shares and all of your preferred and we’ll drop the case on you.” John Doe counters and says, “Listen, I wasn’t in on the scam, but I have e-mails, checks and deposit slips implicating Les Price. I’ll give you all the evidence I have if you just allow me to keep part of my shares which I’ll pledge to turn over at .025 in order to recoup some of my losses that I incurred due to being hoodwinked by Price as well.” MDMN wants the evidence and doesn’t want to involve all of the John Does in a protracted lawsuit as long as they can recoup the shares. So both parties make a deal.
13 Likes
One quick thought. There are many participants on this board who have long been labeled bashers/outsiders with limited interaction to Medina. There are also many insiders (direct/BOD and peripheral participants of the endless private placements) who have/had the BOD’s ear and have close personal relationships with many of the people (Kleen, Ian Dow, etc.) who were involved with the fleecing of MDMN.
I would encourage folks like Brecciaboy to take a timeout on their MDMN novel and begin to go through their list of contacts who “most likely” participated in these private placements. Over the past ten years there has been a looong list of people who knowingly and “unknowlingly” swindled the company through their involvement in Les’s offerings. Dr. Kleen and many others have played the role of pseudo insiders while we assumed a far lesser share count . The stock will NOT gain any momentum until the capital structure has been remedied.
Tupper is clearly doing his best to work through this mess. I have no doubt he would be very appreciative towards any efforts of some of the “old timers” here in their assistance in reaching out to some fellow “old timers” to convince them to take the same path as the recent “John Doe.” It goes without saying that there is a bundle of preferreds that exceed the 2.9 Billion authorized shares. Who knows what the fully diluted amount would be? It’s time for ALL OF US to work together in exposing the bad apples.
Call me crazy but there are at least a dozen regular posters here who defended Les until the very end. Can’t any of you guys who have a seemingly solid relationship with the man have a candid conversation and talk some sense into this psychopath? The ultimate outcome is clear. Can’t one of his friends, who talked to him on a daily basis, convince him that a quicker resolution is in the best interest of everybody involved?
Ray, Brecciaboy, CaliforniaDreamer, KMN (???)…no ill will on past poor judgement…your assistance would be invaluable.
19 Likes
Nice to see you back John. I agree 1000%
You might as well add Geoly to that list who had many conversations with that crook.
1 Like
So you must think some of these John Does who were selling won’t be buying back?
I would think if they did start buying back to cover their a$$es, it would have a positive impact on share price,
Also, I don’t see anyone on this board who doesn’t think Les and Cronies are 100 percent guilty.
100% exactly, IMO.
As for Les, yes, 100% guilty. It’s the “cronies” we need to be more careful about passing judgment on. There certainly could be many instances where honest people were duped into buying shares they thought were completely legitimate.
3 Likes
The problem I see with that scenario is if he is turning over the shares, he is getting zero for them, since MDMN is not buying them back so how does he benefit to wait until .025.
What will be interesting to find out is how much money was actually raised by these illegal sales that did not get onto MDMN books and went into the pockets of Les. . It will be interesting also if the unsuspecting parties involve that are returning shares turn around and sue Les because they are now out of money! Yes there probably are not too many unsuspecting parties, just a thought.
Baldy, Let’s not forget the Officers and BOD’s. They are the ones that left Les in charge of the books and records of the company, they have liability here. I hope they have not been left out of prosecution of some sort.
4 Likes
Totally agree. Also, I think its ridiculous that Gary is still on the board. He’s culpable. The biggest fish is clearly JJ I’m just not sure how to go after the guy and I don’t think he has much in the way of assets. I don’t think Les has any assets either. He’s lived off the company for 20 years without any other source of income.
These preferreds that are being cancelled are amazing to me. I would be incredibly concerned if they were liquid but, because they’re not, they shouldn’t influence the shares outstanding. BUT there seems to be an endless supply that theoretically could convert to billions of shares. We didn’t even know about the latest “John Doe”. It’s great that he gave back his preferreds but I’m not sure if we even factored in the 100M+ shares they would have converted to. Those shares were not reflected in the 3B.
I would NOT advise MDMN to give any of these John/Jane Does any alternatives beyond buying back (illegitimate) shares they no longer own. A penalty or fine will not help out our cause. For anybody reading this post who thinks they may own (or have sold) shares received through one of Les’ private placements, now is the time to buy them back. The price ain’t going to get much cheaper.
8 Likes