Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Q1 sales : $5 377.00
That's an average of 60$ per day.
No wonder that some advances from shareholders worth $1 051 000 got paid back very fast...
One year ago, MDOR was delisted from OTC:BB
13:41 1/16/2009 MDOR MDORE Magnum d' Or Resources Inc. Common Stock Delinquent **
They appear to be late again filing 10Q for Q1...
Wake up Joe !!!
Gluestick forgot it's no more 45 days,
but 35 days after end of quarter to publish to SEC
Last year filed late on feb 20.
He is currently late and did not file he woud be...
Some shorting today by MM
For trades no 95-to 109, bid was 0.60, ask was 0.54...
From the prospectus Risks Factors :
Short term assets : $ 577 922
Short term liabilities : $ 4 282 071
They need money fast !!! Good chances this goes down the drain if financing doesn't fly !!!
Our independent auditors have issued a report questioning our ability to continue as a going concern. This report may impair our ability to raise additional financing and adversely affect the price of our common stock.
Our disclosure controls and procedures are not adequate.
The Company has acquired license rights for its rubber products, and may acquire or develop other products that it believes may be patentable. However, the Company can give no assurance that further patents will be issued; that present licenses or future patents will be enforceable
There are anticipated conflicts of interest between the Company and its stockholders, and there may be potential conflicts of interest involving the Company and its stockholders, some of which may affect the planed business activities of the Company. The Board of Directors will attempt to resolve any conflict of interest situation which may arise and which is brought to the attention of the Board of Directors on a case-by-case basis.
MDOR Seeking 9 M$ by issuing shares...
Prospectus available at SEC
Will be able to pay back 3,5 M$ closed in extremely negative conditions for MDOR.
just watch it drop...
bad financial results ahead...
Late filing by Gluestick again today...
12 months ago it was MDORE...
ejected from OTCBB because of non compliance...
Can be seen as a nice flat line on the 2 years chart !
10Q due on feb 04...tomorrow !
Will JG file late as usual ??
Not much good news again expected in this 10Q.
SEC filing extract below
This Amendment No. 1 to the Form 8-K filed on January 25, 2010 responds to comments the Company received from the Securities and Exchange Commission on January 29, 2010
Let's put it this way, the plain and simple fact that SEC asked that the filing be reviewed should be a compelling evidence. Once they do that, they tend to have more scrutiny in other filings, as simple as that.
It is one of the first time this has happened.
There were many occasions where filings were simply wrong, look at the 15 M$ financing which is not signed by both parties, and was presented as being a closed deal. That was not picked up by SEC.
Just check SEC !!!
Are you sure you don't want to talk to Monkeyfrog ?
Correct, they were fired.
Surprisingly MDOR is issuing a new filing today on this matter, the SEC imposed so.
Interestingly, SEC is now looking more closely at MDOR.
There is another monkey on that board :
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_M/messagesview?bn=74458&vmode=1
Hey Monkey,
Are you posting on the Yahoo Board,
I suspect CC is there,
Lot's of action, I think that many of our pumper friends moved to Yahoo.
Pay back note with note proceeds ?
It is very likely that MDOR have to payback the note installments (april 1) using part of the 3,5 M$ cash they received, if the market is not there for share selling...
Another good one from Yahoo board
Regarding change in accountants :
"The auditing firm is REQUIRED to put a going concern clause in their opinion statement if they have substantial doubt about the company's ability to continue for the next 12 months!!!!
But it is not as bad as it sounds or as bad it would be if MDOR was a real company! Keep in mind that MDOR had no 'real' debt and was almost entirely shareholder funded! Fraudsters Chad Curtis and Joe Glusic do not have any significant expenses other than their own salaries!! MDOR owes them whatever they say MDOR owes them (whether notes payable, salary owed, etc...) but it would be silly for Chad and Joe to force their shell into bankruptcy since the ability to sell shares is their gravy train!!! So they can keep going!! I am sure that statement was in the 2008 10K too! I'll look!
Here it is from 2008's auditor's opinion: "As discussed in Note 1 to the consolidated financial statements, the Company has recurring losses from operations, negative cash flows from operations, a working capital deficit, and a stockholder’s deficit, which raises substantial doubt about its ability to continue as going concern."
The difference today is that this $3,500,000 note will make it interesting!! I say Chad and Joe no longer really care since they got a multimillion dollar payday!! They can light their cigars with $100 bills whether the $3,500,000 noteholders force them into bankruptcy or not!! "
That's avg 0,75$ per share
for 200 000 shares per day
while huge selling happen...
Just watch the PR machine go on....
From Yahoo board :
The terms of that financing call for cash payment of installment plus a 35% penalty in cash if volume does not average at least 200,000 shares/day and $150,000/day for pretty much the entire time between monthly installments repaying that note!!!
There is a reason why Cranshire and the rest wanted that minimum trading volume in there! They fully expect to sell their shares immediately so they want Chad Curtis and Joe Glusic to keep the volume up!! With the rate they get shares, that means they will average selling 30,000 shares per day!!! That will go on for the rest of 2010!! The first installment is Apr 1!!
That 30,000/day might not seem like much even against today's volume of 146,000 but remember those will all be sells!!! If the price drops, that number will only go up!!
With both Fraudy Chad Curtis plus Cranshire and others trying to convert stock into cash, there is little question that it will take its toll on the stock price!! The first installment is just over 2 months away!! You hopeful longs averaging down will be the only source of cash!! Both Chad and Cranshire are competing for your 'business'!!
You can bawl and cry about me posting this if you want or you can decide to count to 10 and see if you can increase your IQ points!!! The latter will serve you much better!!
MDOR changes accountants like...
they change underwear, once a year...
Why would one bother changing accountats knowing the trouble it is to get a new one on board...
Maybe the guys don't want to get paid in shares ?
Never a positive sign when this happens so often.
100 shares transactions...
why would this be...
Can't even cover costs of trading...
When is the next 10Q ?
Maybe market manipulation by or through NITE ?
It would'nt be the first time for them, they were caught by SEC a few years ago and found guilty.
Financial reality will bite back soon
Next 10Q will be extremely revelating....
First reimbursment of 875K$ due March 31st
That is in 70 days, and this is 12 500 $ per calendar day in profit, just to start repaying the note...
In 2009, they had 85 000 $ of sales in the whole year, and they lost money.
Can they turn this around ?
Looks like they will pay in shares, expect dilution, again,
Outside investors = SEC filing frenzy
I suspect that the arrival of new outside investors comes with pressure to be fully compliant with SEC. Which was not the case before. Which is a good sign.
However, will this company be able to make money and reemburse the 3,5 Million $ not in one year ???
That's 875 000 per quarter + the interests.., taken from the operating profits...
Will they be able to make any money ?
They are all consultants...
and being paid in shares I guess...
How much is worth a greasy spoon ?
knowing that at least a greasy spoon restaurant MAKES money !
Less than a greasy spoon restaurant...
That's 233 $ of sale per calendar day
Total sales 2009 : 85 070 $
Cost of sales : 525 108 $
This is with Magog full production !
Consulting fees : 29 505 593 in shares...
Wake up people !
When can we expect 10K ?
And what about mrs Larose ?
Is she still with Magnum ?
Joe GlueStick & Simco !!!
Our sticky CEO still feels he has to restate that SIMCO financing is still underway and possible ?
He sure remenbers that he filed incomplete documents at SEC making an unaware invester believe that the 15 M$ financing was closed !
COMPLETE INVESTOR DECEPTION !!!
Joe, I hope you are starting the get sleep problems.
You and your friend CC are about to fall...
Pay back in shares or cash :
From the financing documents :
"The Notes will bear interest at an annual rate of 9% payable quarterly in, at the Company's option, cash or, subject to the satisfaction of certain customary conditions, registered shares of the Company $.001 par value common stock (the “ Common Stock ”)"
What do you think will happen ?
Representatation & Warranties :
The company had to make R&W in this last financing, and here is what they affirm :
SEC Documents; Financial Statements.
During the two (2) years prior to the date hereof, the Company has timely filed all reports, schedules, forms, statements and other documents required to be filed by it with the SEC pursuant to the reporting requirements of the 1934 Act (all of the foregoing filed prior to the date hereof and all exhibits included therein and financial statements, notes and schedules thereto and documents incorporated by reference therein being hereinafter referred to as the “ SEC Documents ”).
Look at the date of the latest filings...
They already are at risk !
Chad Curtis voted himself ...
40 million shares at 0,001 par value, from which he bought 25 millions.
It was voted out on August 29 th 2009 and only filed yesterday !!!
This is a SCAM,
Please SEC, get this guy between 4 walls .
New filing today Boux is out ?
Apparently Boux sold back all its shares to the company...
on Dec 8 2009 , as per today's filing at the SEC ?
Boux was the kingpin in this company, what is happening now ?