Mainly we were keeping separate threads because of the heated debates about one over the other. Even though one may have the upper hand it’s funny that in penny land you just never know.
Now that both companies are basically under the same umbrella I’ll check with the other Moderator’s to see what’s easiest way to handle all the traffic when it starts. One thing is everyone will have to be specific about which stock they are posting about.
Sorry DonD didn’t see your post until after I uploaded mine… I think we’re on the same page, probably would be easier to keep them separate for a period of time
Appreciate the informative post. From time to time posts from the other site are posted here. I know HR doesn’t like to tout his own horn here, so I hope he doesn’t mind me doing so for him. This was in response to a post stating among other things it was a complete waste of time going after Les and wasting money on legal matters. Rick had an exceptionally well written response that I’d like to repost here:
You’re right, it is a shame that Medinah has had to waste time, money and resources on these (frivolous and bogus) lawsuits. But the distinction you fail to make in your previous arguments is that Les Price and Okanadian sued Medinah. Medinah had no choice but to defend itself, otherwise the company would have been completely bankrupted. That is not even debatable. If Medinah did not respond to these lawsuits, they would lose by summary judgement and you, I and every MDMN shareholder would lose their entire investment to Okanadian and Price.
Read the legal documents… It was Les Price, nobody else, who screwed the company via Okanadian. And as a result, Medinah has had to bear the legal costs to defend itself on top of being defrauded by Price. And it costs exponentially far more in legal bills to mount a defense than it does to merely file suit. Anybody can file a lawsuit at minimal cost and that’s why Price did so. He knew Medinah’s financial state and inability to distribute shares because he had fraudulently distributed shares to the point of exhausting all of the AS.
Fortunately, Medinah was able to mount a defense and countersue as part of its defense. And bringing all of these facts to light in its motions about the nature of the fraud, including naming future John Does, was also instrumental in negotiations to recover fraudulently distributed shares and valuable information about Price’s scheme from shareholders who were either complicit or unwittingly duped in the fraudulent private placements.
If any MDMN shareholder doesn’t understand these simple facts about the necessity and significance of Medinah’s legal defense of the company, then they deserve to lose every penny they’ve invested to the hands of the crooks who were trying to take down the company.
Not only is it a great post but also gives me the chance to thank Kevin again, as I know he put himself out in putting together a hell of a defense and turned it into a great offence. He spent weeks upon weeks putting together post, email, text’s and so on so that we (Medinah) wouldn’t get gouged for tons of paralegal works and endless billable hour’s. Yes it is a frivolous lawsuit, yes there will/is/and has been a price to pay, but Kevin has done everything in his power to mitigate the damages to the shareholders. Rick is correct in his last paragraph.
Unless you are looking to add or sell your position the share price is irrelevant a) b/c the capital structure is broken and b) b/c you will inevitably be receiving your pro rate shares of AMC once it goes public (or more likely reverse mergers into CDCH).
The only thing you should care about at this point is how many shares of MDMN are currently outstanding and what is the likelihood of shares being retired? If we assume 3B shares are outstanding and you own 3M shares you will end of receiving 28k shares of Auryn (assuming 28% of 100M shares of AMC outstanding).
**If you own 3M shares of CDCH you would/will receive 50k shares of Auryn (assuming 300M CDCH outstanding and 5% of AMC)
It doesn’t matter if MDMN is trading at .0001 or 10 cents. You will still receive the same amount of shares and those shares will ultimately be valued based on the success of the mountain. If MDMN were able to reduce the OS to 1.5B (not going to happen) you would receive 56k shares.
Watching two broken stocks trade is an absolute waste of your time (again, unless you need to sell or are looking to buy). We already know the exit strategy.
Nothing is in stone here. Although I have other investments, this is my largest so I’m going to watch it.
Just makes me wonder who is playing with such small trades and I think it’s obvious why.
No. Only CDCH and I’m hoping they can figure out a way to cancel out Les, JJ and Chapin’s shares but have no idea if that’s possible. I assume Chapin would be willing to return his shares like he did with MDMN. JJ is as big a thief as Les so he will be more of a challenge. I’m guessing our main leverage there would be the fact that he sold hundreds of millions of shares to Auryn at prices 3-5x higher than where we trade day (with obvious knowledge of Les’ shenanigans). Regardless of his complicity, similar to Chapin, he’s culpable.
Les owns 7% and Chapin owns 6.3% or a combined ~35M CDCH shares which, IMO, have a higher likelihood of being retired than the 1.5B Les related shares. A total of 44.5M shares were issued to convert “debt obligations” on late 2014 which, as far as I can tell were completely bogus and have a chance of being returned to treasury without much effort.
"The only thing you should care about at this point is how many shares of MDMN are currently outstanding and what is the likelihood of shares being retired? If we assume 3B shares are outstanding and you own 3M shares you will end of receiving 28k shares of Auryn (assuming 28% of 100M shares of AMC outstanding).
**If you own 3M shares of CDCH you would/will receive 50k shares of Auryn (assuming 300M CDCH outstanding and 5% of AMC)"
Why would MDMN agree to this? this might not be the the only choice as this would not stand very well with the majority shareholders, they have put a lot of money and they certainly don’t want to see this gone. The first problem that I have is Auryn not releasing any info on the mining side what the hell are they doing ? There is new management now maybe the shareholders should have a say which way Medinah should go. Why doesn’t Kevin address this issues as they have come up quite often.
There are many opinions Hulk. We have seen no oracles on this board, although some make more sense than others. Relax and enjoy the day!
We’ll have some news from AURYN before June 30, at least regarding CDCH.
MDMN news will just have to wait until there is news.
Baldy, why do you feel MDMN would not be able to reduce the outstanding shares to 1.5b? Upon what are you basing this opinion?
We know MDMN’s counter-suit seeks to recover shares from Price (probably not a high chance of success because Price has most likely sold the shares) and other defendants (especially John/Jane Doe’s). What makes you think MDMN cannot recover shares from these other defendants?
MDMN has recovered some shares to date. Why would this recovery all of a sudden stop? Would you have another number between 3b and 1.5b which you feel MDMN can more reasonably reach? And upon what would you base your opinion for this other number?
IMO, your opinions bear a lot of weight and accuracy. I would like to get a better idea as to why you feel the share recovery will fail.
Jak. I understand what you are saying. But what if those shares that we sold into the market. And you or i have bought them how are they gonna claw them back?
