SANTIAGO, Chile – June 16, 2016 at 4:32 pm
With the departure of Mr. Karra and the increased responsibilities resulting from the comprehensive analysis of corporate affairs, Mr. Goodin is expected to take a very active role with MEDINAH. As such his compensation as a Director remains at 2,200,000 common shares of MEDINAH Minerals, Inc. per year. In order to minimize dilution, the two new directors will currently serve without any compensation from MEDINAH Minerals, Inc.
Note 6
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.
So now Board Members and Corporate Officers are to be compensated whereas before they were not to be compensated from Medinah.
What doesn’t make sense is these shares were set aside…they haven’t been sold.
So what was Auryn’s hurry except to dilute our percentage of their company…ultimately means they have to pay less to Medinah when the property starts to produce revenue.
So Gary Goodin is being compensated a yearly salary of 2,200,000 common shares of Medinah PLUS compensation from the eventual sell of 1,000,000 shares of Auryn stock.
This payment for his failure to carry out his fiduciary responsibilities to Medinah shareholders! Where was Mr. Goodin when all the shares were illegally being issued. My question is did he carry out his responsibilities in communicating with the transfer agent on a yearly basis to see how many Medinah shares were being issued?
Looks to me like he is receiving “double compensation”. WOW..what a sweet deal.
And how about Gary Chapin? What about his fiduciary responsibilities of monitoring the issuing of shares. So both were asleep at the wheel while Les Price was busy forging someone's signature and stuffing his pockets with Medinah shares.
And Gary Goodin is still driving the Medinah bus! Please share price ,just get to .03-.04 so I can get off the bus.
