Medinah Minerals (MDMN)

[Toxic Avenger]

MDMN's holdings were (and still are) unproven. When MDMN started looking to sell, the market cap was already about 10 times what the company paid for the claims. Just proving up the claims costs millions. No one was going to pay more than 10 times their acquisition cost just to find out if they were worth anything. And MDMN had no access to funds. They were liquidating their personal shares as fast as they could. When JJ wouldn't even reveal his personal holdings, it was obvious they were all bailing.