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If 7 M$ were returned to the company, there is money out there worth suing.
What would it take to start a class action lawsuit? Thanks
PUPPET WORLD...
It may be that Curtis is a politically connected Puppeteer and only an aggressive Class Action suit by MDOR shareholders demanding he be prosecuted will bring SEC action. Puppets are everywhere now Including The White House. The Silent Majority including Common Shareholders Have No Voice unless they Hyper Aggressively Demand Action... Will They ???
I hope they don't let him slide...he ran the entire operation. The rest were his puppets imo.
help me
What about the master mind of the scam Chad Curtis? I didn't see his name anywhere. I hope the SEC get him because he's the master mind of the whole scam.
Right you are.
A few other names were forgotten that might have played a similar role : DeOliveira, Rieger, Roberts, and French (at one point in time). Hope SEC in on their case too.
Straight out of the SEC Complaint.
22. Ultimately, Flatt, Sciucca, and Allen received more than $10 million from the sale of their Magnum S-8 stock. They then transferred more than $7 million of these proceeds to
Magnum under the guise of loans.
Where did you get this info
I would ask Chad his feelings about all this...
Also MDOR, if not revoked, will go directly to the greys so anyone holding shares is stuck with a .0001 stock within hours if it starts trading again. Big dreamers that trusted thieves are now crying that they followed the consultant who was the actual one on charge of this scheme.
help me
We have told you the guys behind this scheme were thieves and many just ignored the warnings. The SEC won't leave them with one cent so don't think they will get away free. The SEC does a very thorough audit on every share traded and to who shares were transferred to. I don't like liars and thieves so let em all hang from a tall tree.
help me
againstallodds,
The SEC Complaint says that Flatt, Sciucca and Allen ultimately received $10 million from the S8 stock sale scheme, and $7 million was transferred back to Magnum. The penalties imposed amount to a couple of hundred thousand dollars. Flatt has yet to settle. Do you think he got the bulk of the profit amounting to $3 million? I would think the SEC would attempt to recover the full $3 million stated in the Complaint. Your thoughts.
Separately, the Commission today issued an Order Instituting Administrative Proceedings and Notice of Hearing Pursuant to Section 12(j) of the Securities Exchange Act of 1934 against Magnum, to determine whether the registration of each class of its securities should be revoked or suspended for a period not exceeding twelve months based on its failure to file required periodic reports. The Division of Enforcement alleges that Magnum has failed to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 thereunder by failing to file periodic reports required by these provisions. A hearing will be scheduled before an Administrative Law Judge to determine whether the allegations of the Division contained in the Order are true, and to provide Magnum an opportunity to respond to these allegations.
The Commission acknowledges the assistance of the Financial Industry Regulatory Authority (FINRA) in this matter.
http://www.sec.gov/litigation/litreleases/2011/lr21951.htm
What is the purpose of a Temporary halt in trading. Does the SEC expect the company to publicly disclose pertinent financial information before May 12th that will satisfy them that investors would now be ready to make informative decisions on buying/selling MDOR shares?
The secured creditors for Magnum Recycling foreclosed in October, 2010.
A Sheriff's Sale on the properties has been rescheduled several times since October, 2010 by the secured creditors. The latest re-scheduled Sheriff's Sale on all the Hudson property is slated for May 11, 2011.
USEFUL IDIOT...
Glusic was a Useful Idiot for Curtis. He had no Rubber Industry experience, etc.
Magnum Recycling is a seperate corporation from Magnum D'Or, Will the Hudson Colorado operations, though incompetent and not producing any Rubber Industry acceptable products, Be shut down ? Will there be a Liquidation there ?
With correct and proper processing the enormous inventory of scrap tires there have value and market.
Am I reading this right. Glusic gets off paying about $52,000 in penalties?
Tradercolony.com came down about as fast.
Gee CC, you are indeed watching these boards...
Took 2 hours for Dwight and Chad to kill the link !
I will repost the pictures later, of course I made copies LOL.
Is there a time frame on when this issue will be resolved?
If you see these men,
Run for the sake of your wallet
http://www.myspace.com/globalfinancialexchange/photos/1425130#%7B%22ImageId%22%3A1221959%7D
Flatt & Curtis
Well I was told they were not sleeping...
Watch your back...
We will see how much pumping goes on today. Everyone was warned now they have lost it all...grays suck...like I have stated thieves and liars was and is this company.
help m e
Congratulations Monkeyfrog !
Yes they did,
however s believe, and hope, he's the next in line.
Glusic already started singing IMHO
They left out a name.
help me
MDOR : SEC Litigation :
http://www.sec.gov/litigation/litreleases/2011/lr21951.htm
U.S. Securities and Exchange Commission
Litigation Release No. 21951 / April 29, 2011
Securities and Exchange Commission v. Magnum d'Or Resources, Inc., et al., Civil Action No. 0:11-cv-60920 (S.D. FL) (April 29, 2011)
The Securities and Exchange Commission filed a civil action in the United States District Court for the Southern District of Florida against Magnum d'Or Resources, Inc. and its former chief executive officer and president Joseph J. Glusic of Henderson, Nevada, for antifraud and registration violations and against Dwight Flatt of Delray Beach, Florida, David Della Sciucca, Jr. of Fort Lauderdale, Florida, and Shannon Allen of Miami, Florida for registration violations.
According to the SEC's complaint, Magnum issued stock pursuant to false Form S-8 registration statements, and used bogus consultants to funnel more than $7 million in illicit stock proceeds back into the company. The SEC alleges that in facilitating this kickback scheme, Magnum garnered the assistance of Flatt, Sciucca, and Allen who liquidated Magnum S-8 stock, kept a portion of the sales proceeds, and then returned more than $7 million of the remaining sales proceeds to Magnum under the guise of loan agreements. The SEC's complaint also alleges that Magnum made false and misleading statements in its Form S-8 registration statements and in various press releases during the relevant time period.
The SEC alleges that Magnum and Glusic violated Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The SEC also alleges Section 5(a) and 5(c) violations against Flatt, Sciucca, and Allen.
Without admitting or denying the allegations in the Commission's complaint, and subject to court approval, Glusic and Allen have consented to the entry of judgments that would enjoin them from future violations of Sections 5(a) and 5(c) of the Securities Act, and enjoin Glusic from future violations of Section 17(a) of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. Glusic has also agreed to pay disgorgement of $1,878 with prejudgment interest of $231, and a $50,000 civil penalty. Glusic has further agreed to entry of an order imposing permanent officer and director and penny stock bars. Allen has agreed to pay disgorgement of $80,742 with prejudgment interest of $6,258 and a $25,000 civil penalty. He has also agreed to entry of an order imposing a five-year penny stock bar and requiring him to surrender for cancellation approximately 1.4 million shares of Magnum common stock.
Separately, the Commission today issued an Order Instituting Administrative Proceedings and Notice of Hearing Pursuant to Section 12(j) of the Securities Exchange Act of 1934 against Magnum, to determine whether the registration of each class of its securities should be revoked or suspended for a period not exceeding twelve months based on its failure to file required periodic reports. The Division of Enforcement alleges that Magnum has failed to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 thereunder by failing to file periodic reports required by these provisions. A hearing will be scheduled before an Administrative Law Judge to determine whether the allegations of the Division contained in the Order are true, and to provide Magnum an opportunity to respond to these allegations.
The Commission acknowledges the assistance of the Financial Industry Regulatory Authority (FINRA) in this matter
SEC COMPLAINT :
http://www.sec.gov/litigation/complaints/2011/comp21951.pdf
MDOR : SEC Admin Proceeding and trading Suspension :
http://www.sec.gov/litigation/suspensions/2011/34-64367.pdf
http://www.sec.gov/litigation/suspensions/2011/34-64367.pdf
No I don't. I just read this thread waiting for someone to get hung out on a firm tree limb. I was burned bigtime by lies from the consultant and ceo. I don't forget and tell everyone when a company burns someone stealing their stock on lies don't even think about buying this pos.
It's suicide to by a company when the SEC is knowingly investigating it and it's consultant, ceo for who knows all they did.
help me
By any chance Help Me,
would you have any information on the current SEC investigation ?
My guess would be that a trustee somewhere got the few million shares from Gluestick and auctioned them off for a dozen golf balls.
Now someone with several new aliases is trying to ressucitate MDOR with the left hand selling to the right hand, 5K shres at the time.
My guess...
ever hear of short covering...easy to cover on this stock jmo. This covering helps longs in absolutely know way. I'll bet insider friends went short from who knows where in the world.
This company was and still has in the background crooks that steal...anyone buying beware!
help me
ladypink,
Someone has been buying up 5k lots lately and not worrying about paying near .07 at the Ask. Wish I knew who and why.
What's your say about foreclosure and SEC investigation ?
Solid buys today. MDOR closed with two market makers (.06/.061) on bid side. Volume picking up and I feel something good is around the corner. This one is trying to make its comeback and I think it all started with getting rid of the old CEO and putting in a new officer.
That 8K says it all to me. MDOR might be coming back to life. This is my wager. Bash or do as you please because everyone is on this board for a reason and mine is MDOR is finally a buy. A speculative buy but I think its a buy.
Dream on my friend...
There ain't no new CEO, the guy is a contractual CFO.
He will take orders from who do you think ???
There isn't any board of directors.
The only guy left is Chad Curtis.
Looking for a rebound, look somewhere else.
Problem with MDOR wasn't an accounting problem, it was a governance problem.
By the way, please provide a link about Gopi Sekkhar scamming investors, otherwise, we'll all think you are again dreaming...
Have a good night...
Investors said Gopinath Sekhar has taken money from the company and shares in return for broken promises in the past. They mentioned they were scammed out of monies from this guy. I am hearing the SEC and others are fishing for him.
I think the company will try to come back strong and we shall see what happens. Nice to see the ex ceo leave and a new officer come into run the company. The new officer has a much better background with accounting so now maybe the market won't have to worry so much about the company's books when they start making money or paying off their debt.
Night night boardies.
This pink reeeeks...this company thinks it's ok to steal and that's a fact...old management or whatever they need to go to jail jmo.
help me
SEC Still investigating MDOR !!! Beware
Figured I would ask you what is so new that I would be stupid enough to believe that this POS will not die ?
Problem lies with the majority owner, Chad Curtis, which still owns 85% of this stock. Scam from day one they changed operations from gold mining to rubber recycling.
So is it only the change in the website that is motivating you to invest ?? Would you recognize all the proven lies in the news on the same website ?
Good luck with all your business decisions in the future, and I will email all the pinkies outhere and tell them to change one line on their websites so you can go ahead and invest in all of them. LOL
Figured I would get on this site since I'm finally jumping in to take a risk on Magnum. I would like to post stuff I find or think on this company in an open forum. I agree with the new things and possible some life on Magnum. Been watching all the b/s people post on this board and its pretty pathetic. Either you invest and follow the company or you bash because you have ulterior motives. I couldn't help but join tonight after seeing and reading that the company update its website along with the other new updates you already covered. Well here's to a nice glass of red wine and my venture into MDOR land. Heck even if Magnum bounces back to 15-20 cents I will triple my investment. I believe it can go much higher over time and especially with the old CEO out of the way.
By the way not all pinks stink. I am lady pink and I don't stink. Hehe made my name lady pink tonight so I could reply to your recent post and updates.
(lady pink)
An investor told me Gopi Sekhar is being investigated. I heard he may have stole from the company or investors but I can't verify this anywhere. I think I read it in the past that he took money and or stock from the company but not sure which investors. If this is the case he should duck and run. After-all the company and or investors never got anything from Gopi Sekhar from what I can find.
Been watching this one for a while and waiting for something to change with the company and or for the company to show some life. I have followed this play and their news for a few years and never got involved. I personally hate all pinks and otcbb stocks because of the crap that always goes on in this smallcap market.
However I like to trade and buy some of these stocks from time to time that have been beaten up badly and this one might be a good one with the new sign of life. I like the recent updates I saw the past week.
-New 8k showing some life and new direction http://biz.yahoo.com/e/110415/mdor.pk8-k.html
-Pinksheets.com removed the stop sign and now put up a yield http://www.otcmarkets.com/stock/mdor/quote
I hope this one turns around for those that bought it much higher.
SEC still on MDOR, Glusic wrote it, not me.
Who is the TA? I am about to file a lawsuit against this company...they stole from me so I have about had it with these liars...errrr...well had enough two years ago...liars and thiefs jmo. I am on the edge just don't know if it's worth my effort, probably not. I don't like lairs and thiefs and this company has plenty of them imo.
help me
A year and a half now and the SEC is still investigating Magnum? You've got to be kidding! Maybe it's the same group that watches porno during work. Whose on 3rd!!
Nothing positive...
In his resignation letter, Glusic acknowledges that the SEC is still investigating MDOR
http://www.sec.gov/Archives/edgar/data/1099963/000114420411022461/v218715_ex17x1x1.jpg
You consider this good news. Worst is yet to come IMO
All I can say is something positive finally is going on at Magnum. Wish I knew more.
What is the consensus on the new guy at MDOR? Any opinions? TIA.
SMILES :)
Whats to smile about ?
Is anyone with rubber processing and compounding experience looking at this feedstock opportunity or is it still a dump and eco hazard ?
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11/13/2008 – NEW PICS OF FIRST PRODUCTION AT MAGOG FACILITY
Video: http://www.youtube.com/watch?v=HV7AhRdD-1M
http://i372.photobucket.com/albums/oo167/magnumrecyclage/HPIM1153.jpg http://i372.photobucket.com/albums/oo167/magnumrecyclage/HPIM1155.jpg http://i372.photobucket.com/albums/oo167/magnumrecyclage/HPIM1147.jpg http://i372.photobucket.com/albums/oo167/magnumrecyclage/HPIM1154.jpg
MDOR VIDEOS - http://www.youtube.com/user/MDORRecycling
Magnum d’Or Resources (MDOR.ob)
Business Description:
In simple terms, Magnum recycles scrap tires into reusable, marketable materials; nuggets, buffings, powders, and crumb rubber each having their respective applications. Magnum has a five year contract with National Sales & Supply(NSS) http://www.national-mulch.com/index.htm for $131,000,000 worth of rubber buffings and nuggets for fulfillment of NSS’s contracts with retailers such as Wal-Mart, Lowe’s, Home Depot, and others.
- Production of Rubber Nuggets – http://magnumresources.net/files/rubber-nuggests.ppt
- Production of Rubber Buffings –http://magnumresources.net/files/rubber-buffings.ppt
- Production of TPE’s - http://magnumresources.net/files/elastomeric-alloys.ppt
Magnum recently announced a new research & development program, long term partnership, and joint venture with Sekhar Research Innovations Sdn Bhd (SRI) http://srielastomers.com Magnum will receive immediate exclusivity for North America and future global rights to an array of next generation cost saving custom compounds targeted at a wide spectrum of applications. In addition, Magnum will have access to state of the art processing aids and new world proprietary rubber recycling equipment.
Contact Info:
Magnum D’Or Resources Inc.
1326 SE 17th St. Suite 513
Ft. Lauderdale, FL 33316
PH: 305-420-6563
FAX: 305-395-4858
http://www.magnumresources.net
Share Structure: (11/11/2008)
Authorized: 200,000,000
Preferred: (voting, non-convertible): 10,000,000
Common Outstanding: 22,416,637
Common Float: 8,914,043
Transfer Agent:
Holladay Stock Transfer, Inc.
2939 N 67th Pl Ste C
Scottsdale, AZ 85251
(480) 481-3940
Corporate Domicile:
Nevada Secretary of State Record
Press Releases:
http://www.magnumresources.net/news.php
SEC Filings:
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001099963&owner=include&count=40
Internal Controls:
Magnum is a reporting company, and their accountant, Weinberg & Company, P.A. is one of the best in the business http://www.cpaweinberg.com/news.pdf Also, Magnum has recently retained Canadian consulting firm Raymond Chabot Grant Thornton http://www.rcgt.com/Aboutus.aspx?NavID=117&CultureCode=en to assist with internal controls and revenue projections.
Pictures of Various MDOR facilities:
http://www.magnumresources.net/investors.php
Audio Interview:
10/13/2008 TradersNation interview with Chad Curtis
http://www.tradersnation.com/player/?id=414
Chart:
The rising “Money Flow” and “On Balance Volume” indicate a great amount of accumulation has been, and is still going on.
CEO Joe Glusic explains the genesis of MDOR from MAGR and before: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=34629119
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