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The ask at .0009 is likely an investor looking to short. The 700k bought at .0009 yesterday will aid in my assessment as 700k(buys100k early and 600k later) was shorted out of a total volume of 703k yesterday.
It wouldn't surprise me if someone has already tried to notify the SEC about MDIN.... Looks like it's still trading.... Looks like Nick is still in charge, not in jail.... Wonder why? I thought we were dealing with a scam here... Why is he not in jail?
The facts(I say facts because, obviously, Nick is not in jail and the company has not been suspended):
MDIN cancelled 11 Billion shares of common stock between Q1 and Q2
As of 12/31/12 there are:
12,500,000,000 common shares authorized 20,000,000 preferred shares authorized 502,319,415 common shares outstanding 0 preferred shares outstanding
1,500,000,000 common shares authorized 5,000,000 preferred shares authorized 402,319,415 common shares outstanding 2,000,000 preferred shares outstanding 238,986,082 Shares in the float
As part of this process, the company has lowered its number of authorized shares by over ten billion shares. The number of authorized shares will now be only one billion five hundred million (1,500,000,000) shares. This step is being taken not only tighten up the share structure, but to also help Northstar position itself to apply for listing on a higher tier exchange in the near future. Mr. Chieco adds, "Our original plan was to decrease our authorized shares even lower, but after further research we have discovered that in order to meet the requirements of some exchanges, having 1.5 billion shares authorized was a better fit for the company."
They have to keep the AS where it is in order to cover all convertible debt at the time of request after terms of the note have been met. Also, as we saw with the patent acquisition, they need a bit of room in order to grow the company.
Nick reduced his shares from the common stock to preferred to make the SS look more appealing.
On March 26th company CEO, Nicholas Chieco signed an agreement to accept 2,000,000 shares of Series “B” preferred with super voting rights of 500 votes per share, in exchange for 100,000,000 shares of common stock currently held by him with the intention of having them cancelled and removed from the outstanding shares. The exchange was completed although the cancellation was not yet processed as of the end of the quarter on March 31st , 2013.
Distribution deals ranging from small M and P stores to QCI and Sears. They also sell their products on Amazon, which has begun to promote these products. Also, because of Amazon, MedGen products are showing up on other websites.
MDIN continues to sell products on many websites, 2 of which see well over 100K customers per year(I mention this for advertising purposes. I am not saying 100k people are buying MedGen, they are possibly being exposed to products by visiting). I expect the revenue realised will continue at the very least. I think, based on my research, we will see more from MDIN in the future. These things take time and I feel like MDIN has started the climb and is gaining momentum. If yearly truly shows millions in revenues, that will be icing on the cake for me.
They were reported as convertible on the latest Q statement:
$128,000 of “Loans Payable to Shareholders” represents a series of loans from former officer, Ray Barton, Eastlight Enterprises, and Global idol Capital, Inc., and has been used for working capital and inventory in past quarters. The loans are non-interest bearing, and were originally repayable by cash, or under certain circumstances by conversion into common stock at a price equal to fifty percent (50%) of the last sale price of the company’s common stock on the day of the note’s execution which was $0.0001 for a conversion price of $0.00005. However this has been amended so that in the event the loans qualify to be converted into common stock, they would be convertible at $0.0001.
These notes are convertible at .0001. Meaning, we would have seen a T-trade for the amount converted. I have been watching this stock daily since last November and have yet to see that trade(I look for it). The shares have to be recorded by the broker in order to be traded at the very least. I mentioned the shares as being convertible above because, obviously, they have yet to be converted.
Nick is the only one with issued shares to sell. His share count has remained the same in all official documents since the Q2 report(2M preferred B shares(exchanged from 100M common March 26th), 200M common, tradable).
On March 26th company CEO, Nicholas Chieco signed an agreement to accept 2,000,000 shares of Series “B” preferred with super voting rights of 500 votes per share, in exchange for 100,000,000 shares of common stock currently held by him with the intention of having them cancelled and removed from the outstanding shares. The exchange was completed although the cancellation was not yet processed as of the end of the quarter on March 31st, 2013.
Item 8. Officers Directors and Control Persons
A. As of the date of this information statement, Nicholas Chieco is the only person in an officer, director, or control position. B. Nicholas Chieco has NO disciplinary history whatsoever, and has never had a criminal conviction, entry of a judgment or decree by a court of any jurisdiction that limited his involvement with any type of business, securities, commodities, or banking activities. Furthermore he has never had a finding or judgment against him nor any order by self-regulatory organizations of any kind. C. As of the date of this information statement the only individual or entity owning more than 10% of the company’s common or preferred securities is as follows:
Mr. Nicholas Chieco 15 Bear Street, Selden NY 11784 Ownership: 200,000,000 Shares Common 2,000,000 Shares of Preferred Series B
Item 8. Officers Directors and Control Persons A. As of the date of this information statement, Nicholas Chieco is the only person in an officer, director, or control position. B. Nicholas Chieco has NO disciplinary history whatsoever, and has never had a criminal conviction, entry of a judgment or decree by a court of any jurisdiction that limited his involvement with any type of business, securities, commodities, or banking activities. Furthermore he has never had a finding or judgment against him nor any order by self-regulatory organizations of any kind. C. As of the date of this information statement the only individual or entity owning more than 10% of the company’s common or preferred securities is as follows: Mr. Nicholas Chieco 15 Bear Street, Selden NY 11784 Ownership: 200,000,000 Shares Common 2,000,000 Shares of Preferred Series B
From what I have gathered over the past year on this board. Their(longs) average ranges from the low trips(dangus) to about the low/mid teens. Only those who bought in March-June have suffered a big loss if still holding MDIN. It's silly to think someone might be upset over "investing" in a stock. You should never invest(gamble) with more than you can afford or are willing to lose. I feel a lot of the negative sentiment is from those who put an emotional amount into MDIN. The SP is either great(opportunity to buy low), or it sucks(invested too much now I am angry because I can't get out without a huge loss). Time is the only thing that will fix the SP. MDIN went from 0 revenue for a while(2 years I think) to 160K(as reported on Q3 fins). As long as the revenue is reflected higher in the yearly report, I am confident the SP will rise. If millions are reported as realised revenue, I know the SP will react positively. There are ~6 weeks remaining for Nick to put out the yearly following the standards he wishes to begin following.
That probably won't happen until the audit is complete and released/filed. IMO shorts are covering and this is turning over to the longs. We shall see....
Typically a t-trade is used by an MM, before or after hours, so as not create an extreme move in the market one direction or the other. It is a, pre-arranged, full lot bought or sold at the price displayed. It needs to be counted as extra volume for the day, but does not trade during normal hours for the above reason.
These ”Off Market” trades are typically used by larger investors to trade larger lots at pre-arranged prices without risk of driving the price upward or downward.
$128,000 of “Loans Payable to Shareholders” represents a series of loans from former officer, Ray Barton, Eastlight Enterprises, and Global idol Capital, Inc., and has been used for working capital and inventory in past quarters. The loans are non-interest bearing, and were originally repayable by cash, or under certain circumstances by conversion into common stock at a price equal to fifty percent (50%) of the last sale price of the company’s common stock on the day of the note’s execution which was $0.0001 for a conversion price of $0.00005. However this has been amended so that in the event the loans qualify to be converted into common stock, they would be convertible at $0.0001.
The chill hasn't ever really been a concern of mine, here. There are over 20 MMs able to trade this right now, meaning plenty of investing/trading opportunities. It will be a nice addition to a string of events about to unfold though.
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I have done a lot of searching on this subject, but cannot find a definitive answer. If someone has found a relevant source containing information about the following, please link it here.
It seems, in order for MDIN to become reporting again, they must withdraw their filed form 15 and provide the required SEC documents for the duration of the suspension. Wouldn't that mean they would need reports dating back to FY'09?
I think I remember reading that a minimum of the last 2 years was required, but I can't seem to find that literature.
Please provide links if you have information.(No offense to anyone, but I don't know any of you personally. I'd like to see for myself.)
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