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No telling what might happen here...
wow, up 2200% so far
so we can trade it now. i have etrade
13:58:48 10000 0.01 + OTCEQ_NBB
13:58:48 10000 0.01 + OTCEQ_NBB
13:37:21 10000 0.004 OTCEQ_NBB
up 840% :)
Can you trade it now?
Close. 1000-1 FS. New Symb: MDRG .....et z
U r Lucky. You got nothing to loose, but gain. I dont own any, wish i had. Will watch the game from sidelines.
It looks like it... I bought a token amount here a few months ago, maybe it wil pay off...
LOL must be. I think it just might be a little support manipulation to get the price up there. I'm amazed that FINRA/Naz are allowing a 1000-1 f/s when the price has been .02. That would make it .00002 post split and no way they would allow that.
up 2400% , wow
short squeeze?
Yeah I think they won the court case and seems like they have to reverse the split and give stock back to all holders.
Bizarre
Scottrade sues penny-stock company, other brokers
By Jerri Stroud
ST. LOUIS POST-DISPATCH
Saturday, Dec. 01 2007
Scottrade Inc. won a temporary order Thursday to halt a purported stock split
in a small energy company, alleging stock manipulation by the company and fraud
by other brokers and organizations involved in trades of the stock.
Scottrade, a discount broker based in west St. Louis County, said in a lawsuit
filed in U.S. District Court in St. Louis that the company, Modern Energy
Corp., attempted to boost the price of its shares through a 1-for-1,000 reverse
stock split but never filed the paperwork required to effect the split. Modern
Energy is registered in Wyoming, but its website lists an office in Los Angeles.
Calls to numbers for Modern Energy weren't returned. Shares closed Friday at
$1.10, up 2 cents, in the over-the-counter market.
The suit names several broker-dealers, including Merrill Lynch and ETrade, as
defendants along with Modern Energy.
In the suit, Scottrade says that on Sept. 27, a customer gave the brokerage an
order to sell 1 million shares of Modern Energy's stock in his account for at
least a penny a share, or $10,000. The shares were trading well below that in
September. On Oct. 19, The Depository Trust Co. notified Scottrade
electronically that the ticker symbol and identifying number of Modern Energy's
shares were being changed.
Scottrade then notified its customer of the change and asked the customer
whether he wanted to renew his sell order. He did, and Scottrade asked Knight
Equity Markets LP, a market maker and dealer that Scottrade uses regularly, to
sell the shares.
Knight Equity sold the shares, but the trades failed to settle in the usual
three business days. On Nov. 2, Scottrade said it learned of Modern Energy's
plan to do the reverse split and a related issue of preferred stock to its
shareholders. The action supposedly had taken effect Oct. 16, three days before
Scottrade sold the shares.
As a result, Scottrade's action was interpreted by Knight Equity and other
parties, including Merrill Lynch and E-Trade, as a sale of 1 million shares of
stock, rather than the 1,000 it should have been after the split.
To cover its sale, Scottrade would have had to purchase 999,000 additional
shares of the stock, representing more than 80 percent of Modern Energy's
stock. By early November, the new shares were trading at about 89 cents a
share, meaning that Scottrade would have to pay nearly $1 million to settle a
$10,000 trade.
Scottrade said Modern Energy, which calls itself an alternative energy
developer, never completed any of the regulatory filings to back up the stock
split or the new preferred shares.
A Modern Energy news release described the change as "a unique corporate
action" aimed at reducing its float — which is the shares outstanding, minus
the shares owned by company insiders. The release, which isn't dated, says the
stock was trading in late October at a penny to 4 cents a share "due to (what
we suspect to have been) short selling by market makers." The release says the
float in the stock — after the reverse split — was 400,000 shares, or less than
half of the amount Scottrade was short.
Scottrade says Merrill Lynch, ETrade and other brokers have tried to enforce
the trades. Scottrade has not delivered the shares nor tried to cover its short
position "due to the futility of attempting to do so and the harm to the market
such action would cause."
Thursday's order bars the defendants from trying to carry out Modern Energy's
exchange of shares or taking any action to force Scottrade to buy the new
shares to cover its position. A new hearing on the suit is scheduled for 11
a.m. Friday.
jerristroud@post-dispatch.com
314-340-8384
Typo, thanks, fixed it....so used to posting r/s.
Wow, up 1900% :)
Doesn't it say F/S?
Wonder how this effects us:
Amerossi Energy Corp. to Buy Controlling Interest in Grand Pacaraima Gold Corp.
Market Wire - February 21, 2008 7:00 AM ET
Related Quotes
Symbol Last Chg
AMRR Trade 0.75 0.00
GPGD Trade 0.0095 +0.0035
Quotes delayed at least 15 minutes
Grand Pacaraima Gold Corporation (PINKSHEETS: GPGD) announced today that Amerossi Energy Corporation (PINKSHEETS: AMRR) (FRANKFURT: 3FJ) (3FJ.F and 3FJ.DE) has executed a Letter of Intent to acquire a minimum of 51% of the common shares of Grand Pacaraima Gold Corp.
Amerossi Energy Corporation's offer to The Castora Family, Venezuela International, S.A., and certain other investors currently relates to a majority control position. However, Amerossi is considering on acquiring an 80% plus interest in the future to qualify for consolidation purposes. Details of the transaction are forthcoming.
Amerossi Chairman A. Abdoulladjanov said: "We are excited to add Grand Pacaraima Gold's valuable assets to Amerossi Energy Corporation's growing asset base. We look forward to developing these assets into a cash flow, positive addition to our portfolio."
Newly elected Grand Pacaraima Chairman, Greg Rubin, added: "Having Amerossi as our parent company increases and diversifies the holdings of our shareholders."
Grand Pacaraima Gold Corporation currently holds the concession for four gold mines in Venezuela known as the Cerro Trompa, San Miguel, Mosquito and Zapata mines. Metallurgica de Mineras S.A. has previously sampled and assayed these four mines and has determined that there are recoverable gold reserves of 3.6 million ounces and indicated reserves of 5 million ounces. In addition, through an 80%-owned subsidiary, Grand Pacaraima owns oil and gas wells in a 640 acre Oklahoma oil and natural gas field.
Investor relations
Grand Pacaraima Gold Corp.
818-324-1196
The only way out of this, IMO, is via a re-conversion of MDNO shares into MODR shares. Also, IMO, there will be a re-distribution of GPGD shares.
Modern is most likely sick with grief over our MDNO situation. They are probably composing a prompt, timely message to keep us, the valued shareholders, updated so as not to worry us...... ~ASW~
why do you think we will hear from Modern?
If you sold your shares it should mean nothing to you.
For shareholders it means that their MDNO shares have been declared null and void.
The new CEO, Terry Norgrove, will decide what happens next.
I suspect that each MDNO share will be converted into 1000 MODR shares.
Can you explain to us laymen what this all means?
I sold my MDNO back when it was around $1.00
Hearing is scheduled for later today.
Scottrade is seeking a permanent injunction:
thanks for keeping us up to date.
lets hope it rules in our favor on the 8th!
Judge Shaw's preliminary ruling and the new court date of Feb 6, 2008
The (seemingly) proper notification was filed on time with the WY SOS's office:
Judge Shaw rejected MDNO's attorneys request to withdraw from the case:
The recent ruling by Judge Shaw is being contested in a new hearing scheduled for Feb 5.
Stay tuned.....
Somebody was able to trade MDNO shares today @ $0.20
Maybe they know something and are willing/able to buy shares that the rest of us are unable to buy.
Thx rjj50 and kakalak, interesting. Please keep us posted.
So far as I can determine, the GPGD shares will not be distributed as the MDNO shares to which they will be distributed no longer exist. Judge Shaw really screwed up here. He declared that MDNO shares are null and void. But he provided no direction as to how to make a stock null and void. These shares are owned by many people. Will the MDNO shares revert to MODR shares (X1000)? Will MDNO appeal Judge Shaw's ruling? According to the court records, the hearing lasted all of 9 minutes. That hardly sounds like any time was spent providing the evidence of a properly authorized "stock split".
It looks like MDNO's attorneys in St. Louis were asleep when the case was called to order.
my account is showing an extra 5000.00 i thank that is the warrent for mdno. any body else showing some thing like this.from other perfered shares? look at you're account. one day it will be there then goes away. they were to pay on warrent's first? please let me know ! thanks for you're time. the rate was to be paid at .0001
What about the GPGD shares? Did anyone get them?
Same here with my Ameritrade. What a Cluster! As if this game isn't hard enough....change the rules for the powerful to insure that the weak are screwed. ~ASW~
My Ameritrade accounts are still showing my MDNO shares at $0.05. Ameritrade won't allow me to sell or buy more.
anyone seen the fallout in their brokerage accounts yet?
I already sold mine at 1.00
Next week to be interesting.
Ameritrade will not take trades on MDNO.
Judge Shaw ruled yesterday that MDNO shares are null and void.
Watch and learn
so 0.79 is not real ?
and hey will reverse what ?
:)
it was 0 at the time of my post
they will be erased/reversed
o.k. why is it 11000 shares now ?
a little higher than 0 don't you think?
later...
don't spoil the pump
hah
Funny- 0 shares traded
should move up now, Ameritrade is letting
it rock and roll..
Then...
All sales of MNDO stock made after the conversion should be null and void as well, and reimbursed. Cant have ONE transaction determined null because the change shouldnt have occurred, and not have ALL transaction retroactively reversed also.
There is no need to cover since MDNO shares no longer exist. What will happen with the GPGD dividend is another issue yet to be solved.
Will MDNO shares be reconverted into MODR shares at a 1 for 1000 ratio? Will the GPGD shares then be awarded at a ratio of 1/10 share of GPGD for each share of MODR?
How will they unravel the MDNO trades made over the last 6-7 weeks? Some people sold their MDNO shares and proceeded to buy other stocks, ad infinitum...
Will Scottrade file suit against Modern Energy to recover their legal expenses. With the summary judgement in Scottrade's back pocket, I suspect that Scottrade has a strong case.
From yesterday's judgement:
Accordingly, it is hereby ORDERED, ADJUDGED, and DECLARED that:
1, Modern Energy's Amended Motion to Dismiss is DENIED; and
2. Scottrade's Cross Motion for Summary Judgement is granted;
The "Mandatory exchange" of 1 share of Modern Energy common stock for each 1,000 shares of Modern Energy common stock heretofore announced by Defendant Modern Energy Corporation is null, void and of no force and effect.
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Modern Energy Corp
470 Nautilus St. Suite #304
La Jolla, CA 92037
Phone: 858.220.0243
Fax: 858.729.0271
http://www.modernenergycorp.com/
Modern Energy Corp trades on the third tier of the Frankfurt Stock Exchange as ME2C or ME2C.F. Modern Energy, established in 2006, is a development stage investment company with interests in Jatropha and Palm oils, mining and agricultural land in the Philippines, as well as investments in marketable securities. Now that the company has reorganized, its new management is beginning to execute on a business plan that is anticipated to generate increasing cash flow from aggressive initiatives involving its alternative energy properties.
The Company’s website at www.ModernEnergyCorp.com describes its work in the development of energy resources, presently focusing on development of Jatropha and palm oil production for bio-fuels from undeveloped plantations in the Philippines.
Modern Energy looks forward to becoming a leading company in the alternative energy field and continuing to develop other areas of sustainable energy, such as solar energy. Modern Energy is committed to environmental protection, advanced research in the alternative energy field, and harmony with the community.
Incorporated: 2006
Public Listing: 2007
Exchange Symbols: Frankfurt: ME2C
Common Shares issued & outstanding: 1,202,400,000
PALM OIL POTENTIAL (Biofuel)
Modern Energy's wholly owned subsidiaries are committed to producing bio-diesel through partnerships, joint ventures, leases, direct ownership and farming on more than 250,000 hectares (over 600,000 acres) of agricultural land on the island of Mindanao in the Philippines, much of which is suitable for growing palm oil and jatropha oil.
Palm trees are the most productive natural oil source in the world. A single hectare of oil palm may yield over 4 metric tons of crude oil, or nearly 5,000 liters (1200 gallons) of crude oil per hectare. Jatropha is the second most productive source at nearly 1000 gallons per hectare. (For comparison, soybeans and corn (maize), often heralded as top biofuel sources, generate only 118 and 45 gallons per hectare, respectively.)
If half of the Mindanao land were planted in jatropha plants and palm trees, in several years, after they mature, the company potentially could produce over US$200 million worth of palm and jatropha oil annually with current prices for palm and jatropha oil of US$400 per ton.
Biofuel is considered an eco-friendly source of energy, and reduces greenhouse gas emissions. Palm oil is an important source of biofuel because of its clean burning quality.
Sustainable practices and responsible methods of land clearance and cultivation could significantly reduce much of the unwanted impact on the environment. The land in the Philippines is not currently forested, but, after being planted with palm trees, the environment will benefit from the trees’ absorption of CO2 as it produces palm oil.
The company is currently negotiating with potential investors/partners that may invest in the potentially highly profitable and environmentally friendly palm oil and jatropha oil production enterprise.
MINING POTENTIAL
The Mindanao land in the Philippines also has access to mineral rights. There are potentially valuable quantities of copper, gold, silver, and other minerals. The company is assessing the property to determine which minerals are commercially viable for extraction in order to develop a business plan including attracting a well-capitalized partner.
Please visit www.ModernEnergyCorp.com for more information.
WHY INVEST IN MODERN ENERGY NOW?
Modern Energy Corporation (ME2C), was established in 2006 in Wyoming as a development stage investment company with interests in mining and agricultural land in the Philippines and holds investments in American marketable securities. ME2C is primarily oriented towards common and renewable energy resources. The company's activities presently focus on development of jatropha and palm oil production from plantations in the Philippines with future plans to develop its gold mining interests. ME2C is looking forward to becoming a leading company in the alternative energy field and to continuing to develop other areas of sustainable energy, such as solar energy. ME2C is committed to environmental protection, advanced research in the energy field and to harmony with the community. John F. Winnick, Sr. has just taken over the leadership of Modern Energy Corp now serving as Chairman and CEO |
Preachers Coffee Inc. Announces Joint Venture Agreement With Modern Energy Corp. With Preachers' Agricultural Development Interest in the Philippines
36,103 Acres Agricultural Property Interest of Preachers in the Philippines to Be Developed for Cultivation of Coffee and Jatropha Plants for Biodiesel Production
TAMPA, FL--(Marketwire - 09/08/09) - Preachers Coffee, Inc. (Pinksheets:PRCF - News) (Pinksheets:PCIO - News) and MODERN ENERGY CORP. (Pinksheets:MDRG - News) and (Frankfurt:ME2C - News) announced the signing of a Joint Venture Agreement on the Technical Management and Operating Contract of a 36,103 Acres of Agricultural and Forest Land which is under a Community-Based Forest Management Agreement (CBFMA) of the Government of the Philippines, in partnership with the Manobo Indigenous Community Cooperative on Mindanao island in the Philippines.
The Joint Venture Agreement has a 25 Year CBFMA Contract and an indefinite extension since it was appropriated in an Ancestral Domain Land Management for the Manobo Indigenous Communities. The Manobo Indigenous Communities has the Ancestral Domain Rights to the land and their Community Cooperative was for purposes of Agricultural and Forest Management to improve their living standard. The Joint Venture Technical Management and Operating Contract for the 36,103 acres will allow financial assistance and technical management to be provided by Preachers Coffee, Inc. and Modern Energy Corp.
Rubber trees for forest management, in addition to Coffee and Jatropha plants, are being prepared for planting in the agricultural areas.
The Jatropha plant is valued as a very cost effective feedstock for the production of oil used for producing Bio-Diesel. But unlike other biodiesel crops, Jatropha can be grown almost anywhere -- from arid land to more fertile farms like in the Phillipines. It doesn't need much water or fertilizer, although the yield rises as more water is available, like in Mindanao, Phillipines. And because the Jatropha is not edible, environmentalists and policy makers don't have to worry about whether Jatropha diverts resources away from crops that could be used to feed people. By some estimates, the per-barrel cost to produce Biofuel using Jatropha -- about $43 -- is about half that of corn and roughly one-third that of rapeseed, two other leading materials for alternative energy. At those prices, Jatropha Biodiesel would be competitive with fuel made from crude oil without significant government subsidies.
Recently, an airline had a test flight using a 50 jet fuel/50jatropha Biofuel mix. When Jatropha seeds are crushed, the resulting Jatropha oil can be processed to produce a high-quality biodiesel that can be used in a standard diesel car, while the residue, called "press cake," can also be processed and used as biomass feedstock to power electricity plants or used as fertilizer (it contains nitrogen, phosphorous and potassium).
A significant differentiator of Jatropha versus other Bio-Fuel Feedstocks is that Jatropha absorbs carbon-dioxide while they are growing, effectively canceling out the carbon dioxide they release when they burn. The plant may yield more than four times as much fuel per hectare of soybean, and more than ten times that of corn. A hectare of Jatropha has been claimed to produce 1,892 litrers of fuel. Once the Jatropha seeds are dried out and crushed, these poisonous seeds yield oil which can be burned in almost any diesel engine -- with no modification. Recent studies show that Jatropha seed produces between 30 and 40 percent of its mass in oil.
Nestor C. Buenaflor, Chairman and CEO of Preachers Coffee, Inc. (Pinksheets:PRCF - News) and its subsidiary (Pinksheets:PCIO - News), said that, "This Joint Venture Agreement with Modern Energy Corp. will provide an improvement for the Manobo Tribal Communities on Mindanao, Philippines. And the positive contribution represented by the cultivation of Jatropha plants introduced as one of the cash crops for the production of Bio-Diesel offers a stable and sustainable future for our companies and the Manobo Tribal Communities. We are not only cleaning the air because of responsible forest management and Bio-Diesel from Jatropha, but we also improve the lives of poor people in the remote areas of the world by providing them with job opportunities and income."
Chairman of Modern Energy, John Winnick, stated, "The Preachers Coffee, Inc. joint venture with 36,103 acres of prime agricultural land in the Philippines is just one example of the Global Vision of Green Energy from the Jatropha plant and cash crops such as coffee and rubber trees for rubber, to further expand Modern Energy's footprint to the nearly 1,000,000 acres that our company currently controls through our subsidiary, Sultan Saud Resource Development Corporation (SSRDC). Modern Energy is pursuing a change in business plan to focus on providing Bio-Diesel feedstock for the Asian Pacific Basin and developing the region's economies from a Third World nation to a world class provider of alternative clean energy. This green energy initiative will provide jobs and opportunity for growth on Mindanao, the eighth largest island population on earth, and showcase the best of environmental capitalism."
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