Mainland Resources, Inc.(fka MNLU)

[Ecomike]

For those that are new here, do some DD and read this:

http://bcjustice.com/index.php?option=com_content&view=article&id=5954:mercer-gold-corporation-nevada-v-mercer-gold-corp-bc-for-an-order-under-commercial-arbitration-act-extending-the-time-for-giving-notice-to-submit-a-question-to-arbitration-for-injunctive-relief-and-for-other-related-orders&catid=502:natural-resources-2011&Itemid=1490

Note that there are common officers and directors and major stock holders that hold large stakes in MNLU, and Mercer Gold, and Westrock. Westrock owns the MNLU leases at the Buena Vista location. The key man is Brent Pierce, who pretty much owns and controls Westrock, and MNLU owes him 1.5 milion dollars, and he was banned from the Canadian Stock market in the 1990s and was fined $2 million dollars by the SEC last year for Cayman island P&D stock Fraud on one of his other junk stocks.

MNLU owes Brent Pierce 1.5 million in cash, and he owned 20.x% of MNLU in 2009 (he may be dumping those shares now???), but the shady deals between Westrock and MNLU and AEXP where Powers and Pierce owned and controlled Westrock (but failed to disclose the Westrock ownership relationships to the SEC) while holding huge positions in MNLU and AEXP (which were (MNLU and AEXP) under a 2.5 year merger deal that failed in Dec 2011 when Westrock pulled the leases and offered them to MNLU, the signs are every where on this one now!!! CAVEAT EMPTOR!

That is partly why this stock is at .05, then add in that MNLU has failed in 24 months now to raise the cash needed to complete the well, and now NG prices are too low to make it even a break even deal, and the river flood season is on us adding another year to the delays.... and you DOA stock on the way to zero!

Also add a bunch of court judgements against MNLU for about 7 million dollars in old debt mostly for the well drilling costs, and the fact that Westrock can pull the lease deals any time they want now (all MNLU has is an option that Westrock can jerk away any time it wishes too as far as the well site is concerned, and MNLU is not only BK, but in a very DEEP hole now.

It will be sub penny by the summer.