The basic premise of most that I have posted here is this:
“The BOD/Officers of Medinah have failed to perform in their fiduciary responsibility to me as a shareholder. “A fiduciary duty is an obligation to act in the best interest of another party.” A person acting in a fiduciary capacity is held to a high standard of honesty and full disclosure in regard to the client and must “not obtain a personal benefit at the expense of the client.”
Good example of that failure is what Superdow had to say.
“mdmn management took 1 percent of mdmn's 27.5 percent interest in auryn as compensation.. mdmn the company paid the shares from its own interest in auryn, the shares belonged to mdmn not to auryn.”
I have already listed in previous post where I fill the BOD has failed us in this “sales purchase contract” with Auryn. Before the contract with Aury, the property has been proved up to be worth millions of dollars and even Maurizio admitted the property is worth “billions”.
In return for this property worth billions, our BOD sold it for
25,000,000 (twenty five million) shares of AURYN, a 25% equity stake in AURYN.
Now what I would like for someone to tell me, what are each of those shares worth? Has anyone seen a “financial statement of Auryn”? What is Auryn worth?
Since this sales contract has been agreed to by our BOD, Auryn’s outstanding share count now stands at about 3 million shares. Wow, just think what our shares will be worth once Medinah is consolidated into Auryn. “dilution, dilution, dilution.”
Other issues I have with the BOD of Medinah:
1. The contract was NOT voted on by a majority vote of Medinah shareholders.
Therefore it is an “illegal contract”
2. The BOD or officers of Medinah were not confirmed by majority vote of shareholders.
3. According to Auryn, they only own 20% of the outstanding shares of Medinah.
Yet our BOD has allowed them to appoint three directors of their choosing.
4. Our BOD acquiesced and allowed Auyrn to change the agenda of the last shareholder meeting where shareholders could have had the opportunity to vote on the contract, to an informational shareholder meeting only. No voting by shareholders.
Do I have rights as a shareholder. You bet I do.
This from the SAN DIEGO, Aug. 18, 2017 /PRNewswire.
The shareholders of a company named Calpine felt their boards member had ") breached their fiduciary duties in connection with the proposed sale of the Company to Energy Capital Partners along with a consortium of investors led by Access Industries and Canada Pension Plan Investment Board.
So they hired Shareholder rights law firm Johnson & Weaver, LLP (J&W) has launched an investigation into whether the board members of Calpine Corporation (NYSE: CPN) (" Calpine ") breached their fiduciary duties
