You truly are an ass.
Perhaps Cerro needed the information in MDMNās latest Quarterly report to complete Cerroās filings.
That very well may be Richard. Heās still an ass.
CEO Update
July 21, 2017
I am pleased to report the posting of the 2016 Annual Report and 2017 Quarterly Reports to the OTC Markets Page.
This brings our filings current as of the most recent quarter. Once we have our Attorney Opinion posted for the 2016 Annual Report, I will make a formal request to OTC Markets to remove the STOP sign and show us as having āCurrent Informationā through the Alternative Reporting Standard.
Kevin Tupper
President & CEO
Medinah Minerals, Inc.
I donāt believe those shares will be reported until they are back in Medinahās possession. Iām not sure of the date, but the settlement only occurred or was finalized recently.
Anyone know who the investors were that received the above shares? Surely looks as though they took the opportunity to dump over 130 M shares. Does not look as though they will be returning shares dumped into the market:
Sweet. good start.
Yes, good start.
My cat thinks that Iām the best human ever so whatever!
A few random thoughts:
Nice to see that the Okanadian Management Corp shares are at least restrictedā¦so no chance they will be dumped on the market prior to the conversion of Medinah shares to Auryn shares. A good question would whether Medinah actually got any money for the shares or did Les pocket it all?
Another possible reason for the silence from Medinah/Auryn this years was that they did not want to provide a market for Les/Pamela to dump their remaining shares.(I assume mix of common and preferred.)
Does anyone recall how many shares of Auryn that Les was holding? I would think it would be a percent or two?
Does Les still have any interest in the Carin mine claim as he (Insider Truth) claimed on the Ihub thread?
With the legal suits over, a decision probably was made that the conversion to Auryn shares is more important than dragging out legal matters against Les and others especially with several reports that Les is flat broke. (Where did all the loot go?) Pretty clear this all need to happen prior to the conversion. The same rationale can be applied to going after those that got illegal shares that subsequently sold them year(s) ago. The time it would take to recoup them probably goes beyond the conversion time.
Medinah percent of Cerro will be whatā¦10% of Cerro after the 19.3 million are received and in consideration of the shares they already hold?
From the Annual report:
"Medinah has no business operations other than owning its 27,469,000 shares of Auryn Mining
Chile SpA (Auryn) and smaller stakes in two additional public companies. Auryn is a private
Chilean mining company with 100,000,000 shares issued and outstanding. "
That works out to a 27.469% ownership of Auryn as of December 31st.
From the latest quarterly report:
Medinah has no business operations other than owning a 26.469% equity stake in AURYN
Mining Chile SpA (AURYN)
Why are the numbers different?
Have a heart TR, after all that poor guy has been wrong about all these years, over and over and overā¦its cute heās finally right about something. Good for him
This statement from the 6/30 quarterly report seems to confirm that MDMN will either be bought out or MDMN will distribute its Auryn shares to individual shareholders, Either way MDMN will be history at some point in the near future.
Note 6 ā Directors Fees
The Board of Directors passed a resolution on March 1, 2017, to compensate Board Members and
Corporate Officers with a total of 1,000,000 shares of AURYN stock. That compensation is for corporate
governance through the anticipated existence of the Corporation. The entire amount has been expensed
(at the reported value) in Q1-2017 even though a portion is for future services.
Nice to see you are so excited about MDMN beating CDCH with the filings. That excitement pales in comparison to the major damage (pain) done by Lesā stock issuance scandal. Of the 1.5billion shares illegally issued, less than 116million shares have been clawed back ( 7.7% ). Hardly any reason to get excited about filings!
Heās a dumb āassā as well. CDCH is now double the price of MDMN (looking at the offer side of both stocks). Still a ways to go until parity but itās moving in the right direction.
Les wins. I can understand the need for settlement but Lesā position in MDMN isnāt relevant. Does he even own any shares?? The preferreds were obviously going to be cancelled. Itās the money he received for issuing illegal shares to other entities. Basically all of these parties get off with no repercussions. Including JJ. I think itās safe to assume that MDMN will have ~ 3B shares outstanding now that the settlement is known.
Itās nice to see his position in CDCH go away. That is a significant amount of shares being returned to the treasury. I have no doubt Chapin and JJās shares will follow suit.
Agreed that Les wins. It warms my heart to see that one can get away with such egregiously illegal actions and escape unscathedā¦and all legal fees paid with money he stole from the people who brought suit against him.
MDMN basically is saying - well just give us whatever you still have officially on the books in a few companies you have fleeced over the years. You can keep everything you have lavishly spent over the years and whatever other cash you have managed to stash away.
Thank youā¦and have a nice day.
That is the way Iām looking at it. Count on nearly 3B shares outstanding. What a joke. Les absolutely killed any chance this stock had at being something special which is exactly what Les, and his hoards of cheerleaders were telling us this was going to be - a ATM (looks like it turned out that way for him and a couple others).
I really believe JJ (our fatherly family figure) is the biggest culprit and bastard in all of this. That guy sucks. His reputation in Chile (and SA) has to be in tatters.
Haha. The cdch Vs Mdmn debate continues to rage. I Have no idea how either one will turn out. MDMN seems pretty low right now (or is it?)⦠I own WAY too much of both.
I donāt know how accurate that estimate of ~ 3B shares outstanding is.
From the 2017 Q2:
Cede & Co. # Of Shares Beneficially Owned - 2,147,184,846 (74.54%)
Maurizio Cordova # Of Shares Beneficially Owned - 218,783,318 (7.6% )
It appears to me that the missing shares are either restricted and/or in certificate form. CEDE & Co. represents the free trading shares in the market.
There is no debate. It is simple math. Determine a value for Auryn, multiply that by each companies % ownership and divide by the number of outstanding shares then divide by the current pps.
Example:
Auryn value is $100million
MDMN % ownership is about 27% = $27million
CDCH % ownership is 5% = $5million
$27million/3billion shares = .009 per share
$5million/300million shares = .017 per share
.009/.004 ( current pps ) = 2.25 times
.017/.006 ( current pps ) = 2.83 times
At this moment CDCH is 26% more valuable than MDMN
The critical variable in this analysis is the relationship between the two pps.
Couple hundred dollar in trades and it will back down below Medinah. Not sure why you continue to pump that stock. It is has few market makers and almost no liquidity making it almost impossible for any one to move a significant position in or out of it. The shares outstanding will help those that currently hold a position convert to Auryn shares when the time comes but till thenā¦give it a rest. For those that want to actually make some significant money, Medinah is way to go for any new share purchases. You can pump and whine and call people names but it isnāt going to help Cerro any.
For some others, all things considered the legal outcome was probably the best we could have reasonably hoped for. If it is any consolation, most likely Les is ruined financially, will likely never recover and his next heart attack will likely be his last.
Yes, agreed, but purely hypothetical at this point. For those that follow 'lil sister discussion this has already been presented: