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We can certainly make a reasonable deduction based on historical non performance on the part of Medinah BOD that the same will continue. Nothing constructive will come from the BOD. The safest assumption is a vote of no confidence in Medinah's BOD.
Looking at the chart, the safest assumption is to assume the share price will continue to go south.
As I stated earlier, maybe, just maybe, it is time to be the contrarian and do some bottom fishing here. Maybe, just maybe, it is time for Medinah BOD to deliver.
When things look great, as they did around the time of the shareholder meeting, hindsight says it was obviously not the time to buy. Now that things look gloomy, it may be a good time to buy. Today's action was encouraging in that the share price did not tank and closed at the top of the day's trading range.
I expect a bounce. I just can't say if it will be sustained or fade again to sink to print lower prices. The share price action is now a function of positive news vs. bad or no news.
Let's see how things shake out "next week".
I have no argument with you as to present valuation. Medinah is simply a black hole at the moment. That's another major issue I have with anyone who calls this entity a "capital company". What does that mean anyway? Not even the most valued company on the face of the globe has called itself a capital company. How creative and deceptive when there isn't enough money even to file a claim in court.
My reference is only to the stock trading action, nothing more nothing less for the moment.
If in fact there is a deal for $180M for 85% of the claims,and if in fact those claims are worth in excess of $2B and counting, then one day, when all the done, done, done is done, and Medinah is in receipt of the income for the purported and much awaited, but as of yet not seen, billions of ounces of gold and other treasures, then we may sit and talk about actual valuation.
Purely on a technical basis, it appears MDMN is oversold. If today's action can be interpreted as a hammer on the candlestick chart, then we may have a reversal on Monday and for a few days next week a positive upward move.
If a major announcement accompanies this oversold condition, then next week we are off to the races.
If there is no announcement next week, after a few more days of upward move and consolidation, we are back down to $.05.
IMHO, sometimes it pays to be a contrarian. Just when we feel like capitulating, things change on us.
Let's see what "next week" brings to MDMN longs. More bleeding or finally a vindication.
How's that for a conflicted, angry, frustrated MDMN long.
Again, LP says nothing in his message. "I will push the powers that be..." what a lot of buffalo chips.
I'm afraid the information that is allowed to trickle down to the public is to keep the average shareholder from dumping while the insiders cash in at the highest possible prices.
Boy, I do want to be wrong. If you and I are right, this thing could easily go to $.03 again.
Of course, they will release more non material info that may take this up to the teens again. But unless there is a deal and LDM is truly a bonanza, with a buyer who steps up right away, I don't see anything good on the horizon for the share price.
Shareholders are frustrated, (speaking for myself and I sense it in the tone of other posters as well), (understatement) and are ready to cut and run. Tired of being jerked around by these guys.
That's exactly my point. These types of rumors have been floating out there, dangling carrots, to make your head spin.
When next week comes and no announcements are made, then of course there is always the backsliding that goes on.
The reason(s) for no announcement is: Fill in the blanks...
1. Because the partners control the announcement, they will announce when they are ready to announce.
2. The mining expo is in April and it will be announced there with media, bla, bla, bla.
3. The beginning of the quarter announcement is best.
4. There are a few claims that need perfecting.
5. JJ needs to fly to NY
6. If JJ was not at the shareholders meeting, it would have been signed.
7. They (the partners) needed to float a bond to raise the funds.
Greg came back with his trip notes. Among the notes was his allusion to a call to the buyer's attorney who said the funds were there and will be forthcoming soon.
Your head will spin with all the concocted excuses for not closing the deal.
So, now we have rumors again that the deal is done and it will be announced and funded this week, wait maybe next week, wait, maybe when the mining expo takes place in China, or VC or Denver, or I don't know, just pick an excuse. It's bound to be as good as any other.
Yes. I do want to be wrong. But it's not looking good!
This type of information is both perplexing, reprehinsible and incomprehensible. Medinah is under a strict confi agreement. But yet friends and close associates of the BOD, seem to be given the wink and a nod from time to time to spread the Medinah gospel.
So which is it? Is there a NDA in place? If so, who talks to these guys who seem to know what the latest happenings are within Medinah Land? If the public gets these filtered rumors, then what good is the NDA. Who is talking to these close associates and friends?
Here is another thought. If insiders are feeding info to close friends to send out these signals of the imminent funding, deal closings, name of one of the current buying entities, then can anyone tell me why Medinah does not release the name(s) of the previous buyers of the failed deal. The NDA on the failed deal is not in force at this time. Why keep the name wrapped in a Chilean tamale.
So shareholders are to believe these rumors coming from those who know what is to transpire within days, weeks and on and on from an insider who is leaking info that is not public knowledge which info is presumably governed by the NDA. This type of game is beyond the pale. This is manipulation for personal gain.
The direction of the share price is signaling a huge disappointment, even if the funding will go through. Just as some here were sure that the direction and share price action was positive in anticipation of the announcement of the buyout, since the topping action in the share price and continuing to the present, the share price and direction is signaling a weak or a no deal.
With regard to the so called deal, I have long been asking what is the first tranche of the $180M, if in fact the deal is real and still alive. If the first payment is a substantial number, compelling the buying consortium to stay committed, then we may be in for an appreciation in sp. If the first payment is a token payment, a nominal amount, then there is nothing to cheer about. The consortium will drag things out forever and Medinah's only option would be to try to break the contract and seek remedies in court. And that could take years to unwind.
Imagine, if it has taken all this time since the announcement of a done deal, and we still do not have a clue of when or what, then if there is trouble in River City, how long will it take to unwind the legal mess between the consortium and Medinah.
I would be thrilled if this deal is real and the buyers are ready to perform. I would be more than pleased to see real lab results of the assay from ldm reporting a potentially great find. But the historical record of Medinah makes me doubt each and every word. They have always carefully crafted their announcements.
My paper loss in MDMN is my fault. I fault no one else for my decision. That said, being candid and forthright to the shareholder is not a quality I find in Medinah's bag of tricks.
Let me take a moment to correct the error in my last post. Of course what I meant to say is that the $180M purchase price is for 85% of the claims not 15%. My bad.
There will not be an Alto deal. There will not be a buyer C/jv or anything practical to create/produce revenue. This is now getting old and no one will believe JJ if he comes up with that scenario. So the future announcements will revolve around Medinah mining its own claims and working the mines, skarns, adits alone, as no one seems to want to close a deal with JJ and his friends. Not even the attorneys who work for the buyer(s). If they close the deal, their legal fees will stop.
Here is what I see.
JJ and his minions will continue to do their comingling deals with other claim holders and among themselves. Taking small/large percentages from and with each other.
They will give worthless stock to buy/take minority/majority interests in other claims and with other claim holders. These new stock holders sell their shares at market which will continue to depress s/p even further.
They will make statements and make claims of discoveries, plans to explore, new finds on new adits, excavations, shafts, skarns, but with no apparent results or actual concrete drop dead dates for monetizing any of the assets, that is assuming there is anything to monetize.
You will note that each and every announcement/update has a never ending saga. There is always the next string that needs to be revealed for the announcement to have any real impact. And guess what, that conclusive deal maker announcement, that the deal is actually funded, or tons of ore have been sold for actual revenue/income never come.
The real question is, will it ever come for current shareholders to benefit those who took the risk. Will Medinah ever perform, or just keep adding new claims, new royalty deals, new discoveries and never ever take advantage of the current prices of metals and minerals and bring an ounce or two to market and raise a few Yankee dollars instead of trading worthless paper/stock. And if so, when? Next week?
For those who have been fortunate enough to own the shares from sub penny days and have recently added to their holdings, MDMN looks good. But for others who have gotten in based on done, done, and done deals, near the top end, and all the other representations made by friends, insiders, JJ and BOD, this does not look so good.
One more silly question. It seems to me I recall reading that the attorney for the buyer(s) was making demands on JJ to fly to NY to sign the finalization docs. JJ could have walked to NY by now and returned to see the snow capped mountains of Chile, had he started the hike to NY, and had he really been interested to do the deal or should I say, (please forgive me die hard Medinah believers) if there ever truly was such a $180M deal for 15% of Alto. Perhaps the only real Alto is JJ and his cronies singing in Alto while they sell shares of MDMN.
Nice!
If you have an online trading account, you should have access to L2. If you can't figure out how to access it, just call your customer help desk. They will show you how and what you need.
That said, MDMN's L2 is totally meaningless as the share price now is strictly dependent on the ADL deal announcement and marginally the results of the assay.
Either way, you are dealing with a pink sheet stock whose board is not under the same type of reporting requirement as a listed stock. That means they can get away with, well, what they have gotten away with so far and will continue to get away with much more if there is no deal out there.
So beware.
Nice hammer! Turbulent morning but a decent close.
JJ signs in NY. Results come back from the samples: "Samples of the exposed vein at the LDM site have been sent out for independent analysis. We will be posting the entirety of the mineralized material results for shareholder review as soon as received".
Good day to shake out the weak hands and now the reversal can begin. IMO, MDMN is On the way to new highs in May.
Not to worry. Attorneys are not too keen on taking calls from other than paying clients. So, nobody is going to muck up this deal as much as others have so far. The switchboard will not put the calls through.
No technical indicator is worth the ink on the printed paper without a sound fundamental backdrop. There is only so much one can project based on technical performance of the stock.
Rick did use the disclaimer, to his credit, that MDMN needed to make the announcement of the deal for the stock price to move higher.
MDMN needs to perform, or it is back to the lows of 2011. IMHO I do not see that yet. But it is possible.
Of particular interest to me is the question of the amount of the first tranche of funding the $180M purchase price for the 85% interest in the 1508 claims. Am I missing something? I don't see any reference to a number anywhere.
Secondly, what difference does it make if the purchasing party wants the contract executed in NY or Botswana. If JJ is interested in moving this contract forward and call the initial funding to activate the contract, then fly to the north pole buddy. Let's get it done.
Thirdly, the purchasing party does not have any legal ownership of the 1508 claims, per previously reported info from JJ et al. So this is an option to buy, and not an outright purchase. Jensen, the accountant refers to it as a JV option in his release of his financial statement for MDMN.
Fourth, the so called tunnel looks more like small dig on the side of a small hill. Please correct me, it does not look like much of a tunnel.
Fifth, the identity of our potential future buyer is now made public by GC. Now that other matters have been discussed, how long do we wait to find out who our current the purchasing party is? If the current deal goes south, then no need for a NDA for the next buyer in line as we already know who it is. Right folks?
Sixth, no mention of why the delay in funding except for the call from the purchasing party's attorney for the execution of the contract in NY. So JJ, what's the problem. Go to NY, sign, take the originals to Chile and record, notarize, and by the way, bring along a check for the initial tranche, and deposit it. I don't care if you deposit it in Chile or in NY or Miami. Just deposit it.
Seventh, no comments from our newly hired securities attorney as to the validity of the insistence from the purchasing to require JJ to sign in NY. Whey do we have an attorney if we cannot get legal advice as to what the protocol should be when we reach sensitive points in our relationship with buyers.
If JJ does not do the job, then let's have a capable person negotiate the new terms with the new buyer, if we abandon this deal. I say, if we abandon this deal, as though we have one.
I did post that this deal was rife with contingencies about a week or so ago. So clear out the contingencies and move forward or cancel this deal and go with another buyer who is willing to perform.
I'll stop here.
As to the share price action today, this morning's action, IMHO is a sign of capitulation. If the share price closes in the lower range, then we have more bleeding. If it closes in the upper range, then it is over for now and we can look for a reversal or sideways trading pattern until these issues are resolved.
I find it preposterous that anyone would put much weight on pictures of a shaft, mine or of the property.
I think the train for all that discovery has left long ago. Either there is gold in those hills or there isn't. There is not doubt that the mountain is there with metals and minerals. The issue is not to be clouded with the often heard cries of wolf from longs who claim to know more than they really do.
Their expectations of today/tomorrow and their pronouncements are not on schedule with the BOD or the consortium who is involved in the deal.
My speculation is that the "deal" is done, but the so called "done deal" is full of contingencies. I don't know what the contingencies are, but I can speculate. However, I will refrain. Hence no announcement, until those contingencies are satisfied by both parties.
Until the deal fully conforms to all parties satisfaction, there should not be, and there should not have been any shouts of "done, done, done" from anyone, least of all from the BOD.
Just what is another image of the interior of a mountain going to do to bolster anyone's confidence in this investment. NOTHING.
So, I wish all would just shut up and wait. If this is a scam, it will get flushed out soon enough. If there is a deal, and there is prove up of the metals and minerals, the buyer(s) stand to make a lot of Yankee Dollars and longs will go along for the ride.
Don't ask for pictures. That is a non game event. What is important is what this deal means to longs. Are we really in an agreement or is this another agreement to agree with a lot of contingencies that are being chipped off daily until there is enough evidence of metals and minerals to satisfy the buyer consortium to fully execute on the agreement.
Summing it up, I don't think the BOD will risk going down the same road as they have last year and in previous years. The game has changed and if they are perpetrating a fraud, it will be a life changer for them as all longs will not tolerate a fraud and will necessarily seek some type of retribution, i.e. SEC investigation.
I don't agree on the way the BOD has handled their announcements well. I am tired of their fluff news. I don't want to hear generalities. If they have a specific number on the prove up, the content, the size of the find, then talk, but otherwise, just keep moving forward and deliver an end agreement/product that we can all be proud of and provide the pay day we are jointly looking for.
For the record, it is only my opinion that there is no fraud. The deal will be flushed out soon enough, and that may be another six months. We just don't know what really is the agreement that the management and BOD have agreed to. The devil is in the details.
Hang tight and let it roll out one or the other way. Pictures are not the issue. The details of the agreement and the pending announcement is the deal.
Sorry HR, technically challenged here at the office. My IT isn't here, so you and the board will have to take my word, I have the additional 10% shares in the ML account. TD has not shown any distribution of MDMN yet.
Glad to see this reversal. Share price is now a function of the announcement, the details of the deal and the valuation thereafter.
I am not getting into the short squeeze or any other event that will affect the SP, as you and others are qualified to take up that subject. But it is now looking better. The falling knives have gone away.
I will be back later. Got to take in a couple of meetings now.
I'll ask my assistant to follow up on it and will post it asap. Again, it is only in the ML account, not the TD Am acct. We'll get back asap. I am slammed today but did want to let you know the dividend delivery is here, and not "imminent". LOL
Sorry it is in the Merril Lynch account not TD Ameritrade.
Merrill Lynch and TD Ameritrade. Both accounts received the stock dividend. Of course the share price is woefully low relative to my purchase price. We will wait and see what rolls out next.
I find it difficult to believe that management can continue a shell game. I am not certain because I have no knowledge, but I have a degree of confidence that JJ is not lying, he does have a deal. He has gone on a limb to state what the basics of the deal are. I just don't see a reasonable person putting out the info on the deal to deceive shareholders. Just reasonable prudence tells me MDMN has a deal, just a matter of what the deal is and when and how it will be executed will determine if this is an investment or just wishful thinking.
I have posted previously that the announcement will not be made of the deal in March, and that appears to have been correct. I believe there is a reasonable probability the announcement will be made in April, although I had thought it may not come until later perhaps May or June. These are my speculations due to the manner in which management disseminates information.
Let's see if the big show happens in April in Chile. I would love to sing "Chile has Talent" sooner than later.
Dividend just hit the account today. Anyone else?
Please explain:
"Or worse, gone, if MDMN doesn't cooperate with your broker".
I just glanced at the chart. Perhaps we may have the reversal tomorrow after all. There is clearly a hammer formed today and MDMN is seriously oversold. Let's see if the sp does reverse and if there is an announcement that coincides with the reversal tomorrow or Monday. I do want to believe the stories and the numbers published aren't made for TV scripts,and that they are real.
Waiting!
Rick,
Your reply is appropriate. I sound more like Santorum, whining more than contributing to this board. For that I apologize. I do not make my investment decisions based on posts on boards. These boards generally worthless. There are a few commentators on this board who really have a grasp of MDMN and others who simply pump and make ill timed comments, and less than intelligent.
Surely, if I am going to consider staying long, I will ratchet up my investigation of this company.
I do appreciate your input. I do have a few disagreements, but none that will make an appreciable difference to anyone who is long or short this stock.
The entire premise for my frustration is the manner in which the management of MDMN has handled the dissemination of information on the previous JV and now doing the same with this transaction. If there is a transaction, then get on with it or stop the this week next week BS. That the contract would have been signed if JJ did not attend the SHM, on and on. You get the drift.
While I accepted their words at face value at the SHM and at other announcements, now I take all they say with a healthy dose of skepticism.
The questions I put forth are here for all to think about, not just for my edification.
Thanks for your courteous reply. We may disagree on the hows and the what fors of this company, but you are a gentleman. You do have my respect.
Thanks for posting the chart Rick. I really felt this was going to be the result, even though I was wrong about a possible reversal after Tuesday's close. Whether or not the chart shows a head and shoulders pattern is a mute point. Regardless of what the chart showed, the real issues relate to integrity and a major credibility gap from which management suffers.
What I am simply asking for is transparency. I realize that you do not expect that of a pink sheet company. However, MDMN wants to convey the wrong message about their status at almost every turn. This has been the historical modus operandi for a significant number of years and not just months or just for a short term.
You're right. No one is forcing longs to hold on. That said, MDMN has shown bad faith by making claims, on which well meaning longs act, and then the bottom falls out of any sort of credible word coming out of MDMN's management.
The latest statements from DeCosta regarding the stock action of a few days back was unwarranted. If he had no connection to the seller of the shares on Tuesday, then he should have made no comments that were for public dissemination. In my opinion, his position is not to teach stock holders what constitutes a bear raid, or how stock traders are subject to margin calls or any other statements regarding the stock action when the share price goes up or down. The daily price action/fluctuation of shares is not and should not be any of the management's concerns, unless there is fraud and criminal intent by any traders and stock holders. Management should focus on activities of the company, perform their duties with great care and in an expeditious manner, and engage in activities that will bring to bear great results in terms of identifying, production, and sales with profit, to the extent possible of the underlying products of the business.
In the case of MDMN presumably as the owner of over 1,500 claims that have been studied by the owners, and then by many, many prospective buyers or JV candidates, and presumably these claims have huge world class deposits begs the question why doesn't the company mine enough of the product(s) to raise enough capital to mine the next amount and keep parlaying this asset and transform this company into the world class capital company that it now claims it is, which so far, based on their financial statements, they are anything but.
It has been mentioned that there is quite a huge amount of gold not too far from the surface on claimed land. So if the people of Congo can dig the earth with shovels, why doesn't MDMN find a way of extracting just enough to purchase some equipment, then use the latest and greatest equipment to drill those rich shafts full of gold.
I am really perplexed. I think you understand what I am getting at. Is this a real deal or are we being played with here like a string instrument.
I have another question. Has anyone other than the BOD or management, any third objective and independent parties, come forth and put their name to any documents that show the validity of these claims made by MDMN regarding the mining claims, the geological claims, the shafts, the gold, the silver the moly and copper.
I mean, hell, we all know that regions of previous mining activity had metals that were extracted, some small some large, but what is the current status of these claims? Who has vetted the veracity of these claims that are made with regard to the deposits of metals. Has anyone other than at the top JJ and crew? I really want to know.
For those of you who have owned shares of MDMN since the $.005 days and seeing your holdings shoot up from those levels to these lofty levels has not given you enough reason to sell. You obviously know more than I and are long because you believe the management's stories. Well, please help some of us who are long from these levels in garnering some sense of what the hell these statements are all about.
When I am involved in a transaction, when I say the deal is done, I would only make that statement because I have a mutually signed agreement and I have received consideration to clinch the deal. Otherwise, if those two things are missing, then I can only say that we are still in discussions and the deal is almost done. We expect the deal to be completed by the following date. Yes or no?
The BOD was present at the SHM, and there and then the repeated statements were made that the deal is done. Well, then there were a few minor details, then there were signatures to be singed. Then the documents were delivered to be signed. Then the stock takes a dive.
OK. I am just looking for answers. I want to know if any insiders have been selling since the share price was up at these levels. I would like to know if this is a genuine operation or just like the other pink sheet promoters, only with a better story to tell, and maybe a glimmer of truth, just enough that even all who tell lies even believe those lies because therein lies some truth.
Really frustrating to see people who are so mislead day after day after day. All I am saying is that if there is gold in those hills, it should not take this long to get the damn gold out. There are many gold mining companies down in SA who are doing a primitive method of extraction and making money instead of pumping and dumping stock. Tell me it ain't so!
Rick,
Ok. One thing I omitted from my comments yesterday is the unmistakable head and shoulders pattern.
I was too frustrated to even ask you for your take on the chart pattern that was signalling the move to the lows we saw today.
Question now is to you Rick. If you don't mind offering the answer: Did the sell off today violate the neck line.
IMO we had a clear head and shoulders pattern on the daily chart. With the recent highs as the head and the price action prior to the highs and the recent right shoulder pattern. At least, that's how I saw it. If I am wrong please correct me.
I think with the hammer today, we may be looking at trading reversal from the recent oversold levels.
Not too many pink stocks show this type of a "predictable" price action. As deadjim was alluding to last week or so, this is a remarkable chart for a penny stock.
If I knew nothing of the MDMN fundamentals, this chart does provide some guidance as to the next move. And, yes if in deed the chart showed us the head and shoulders pattern, then today's action was in line with the fulfillment of the pattern signals. Although, I must say, I was not anticipating such a precipitous drop as we did today. I thought we may have a slow trickling death down to the $.09-$.10 levels.
Would you post your chart analysis at this point. I would be appreciative.
TIA
I apologize for not making myself crystal clear. So, allow me to make myself clear.
I am not looking for inside information, nor any hints from the BOD about any sensitive information, nor any information that would be illegal or unwarranted during discussions of an imminent take over.
However, if the deal is done, as they reported, then what is holding up the signature. I could have sent a team of mules to climb that mountain in Chile and they would have returned with the sigs on their backs.
What about the deal that went south. Just how long is a confidentiality agreement good for, an eternity? Who was the JV party that backed out? What is going on with them now? Why the secrecy?
When deals go south, the details of the deal that did not materialize don't have any meaning. So tell us who it was. That they do not let us know who it was, tells me there was no deal! Period! And I think we are in the same position again! So, let me repeat, if the deal was done, what was done? No signature, no deal. Then the announcements about this question or the other being now fulfilled. BS. Get on with the business of mining or get out of it entirely and let the shareholders loose. Stop this stringing along over and over and over and over again.
Supposedly the previous JV went south, and the party was supposed to pay expenses, etc? What is going on with that issue? If there is a legal claim against them, that should be public info. Is filing a public law suit a secret? And if you bring a claim against a firm or individual, don't you have to name the egregious party? What and where is there a claim filed? Against whom? Some phantom mining company? What the hell is this all about anyway? Shareholders deserve no less than the truth!
The carrot of the stock dividend is a crafty way of getting the shareholders to hold the prices up while few use this time to unload at these levels. The dilution to come along with the stock dividend payout will take care of any value add the dividend is supposed to provide. Not only will we face a lower price by then, but once the dividend takes affect, the pps will be adjusted to reflect the dividend payout. And we cannot sell those shares. Well hold on to what? A diluted stock that we cannot sell anyway? Man, I could go on forever, but I will stop here.
Here is my opinion. This is mine and mine alone. You believe what you will.
I can state with a high degree of certainty there will not be any announcements regarding a mutually signed agreement that seals the deal in March. I can also extend the same sentiment for the month of April. What announcements that were to be made were made on March 7. Now in April, we have the stock dividend. So April is taken care of. I wonder what will come in May. A major disappointment or the deal signed sealed and delivered? We shall see! If there is no deal in May, where will the pps be?
So, as we extrapolate this speculation of mine, we can easily see a share price of $.09 to $.10 by the end of April, if there is in fact no such announcement.
And again, it is my opinion, and only my speculative opinion, that there will not be an announcement of a mutually acceptable, executed agreement regarding the 85% purchase of all 1500+ claims as was purported at the SHM. Mark my words, there will not be. And my holdings will suffer as a result, as will yours.
I am holding my shares just in case I am wrong. You do what you want. My advice is to sell now. But since I am not following my own sage advice, I don't expect you to either. Because, frankly, this carrot they have out there is really a big one they are dangling in front of my eyes. Damn their crafty language and games! What if they are right, goes through my mind each passing day. As I wait for nothing.
Well not really, just waiting for the other shoe to drop any day, when they announce that there will not be a purchase of 85% as was announced because.....you fill in the blanks!
I know, you think of me as a fool for feeling as I do and still holding on. If you do, you are right. Deja Vu.
This is my first post, and it will probably be my only post. I have been in and out of this stock with a digestible loss. I am now long and have actually influenced others to be long the stock. Some are at a loss and others are in a winning position, depending on when they got in.
I am at break even or a minor loss, not an issue.
What is an issue to me are the following:
When there is a planned merger or a planned acquisition of a publicly traded company, there is a time frame within which the execution of the planned merger or acquisition takes place.
At some point, there are even rumors of the plans for a take over or a merger, and the suitor's name is even leaked out.
Surely there is a NDA and so forth in place, but at some point, nothing can hold back the rumors, and the beans are spilt, and the suitor, acquirer, merger candidate's identity is divulged if not leaked out.
I would like to know how it is that MDMN has such a tight discipline that no one, I repeat, NO ONE, ever mentions the suitor's names, identity, or any shadow of a glimpse of who the hell it is that has made an agreement to purchase part, all or become involved in negotiations in a JV of some type.
So I understand the need for confidentiality, but what of the previously failed bids for a JV? Who the hell was it that supposedly did not follow through and backed out of the previously announced deal?
Don't you guys want to know who the hell it was? I want to know who it was.
I want to know what the hell is the big secret any more. Why protect or otherwise keep the old, stale bit of info confidential.
So the previous JV did not go through. So what. Deals break up, and deals happen. The last one that we all waited for a year or more did not materialize. So what, S--t happens. But why agree to keep the identity of that JV suitor a big secret? Who was it? I want to know. Doesn't anyone else out there care who it was that reneged?
So I will come to the chase. If there was a JV that went south, then let us know who that suitor was. If there was never a JV then come clean and tell us what the hell went on.
A discussion with a party regarding a JV does not constitute a JV. Only talk. Was there a JV or not. Let us know.
Similarly, now we are expected to sit tight and believe that the deal is done, all it requires are the final signatures, which documents have been presented for signature.
I have never heard so much none sense about the finalization, duties of parties, on and on and on and on it goes.
What is the deal here. Do we have a deal or not? Is there a party out there who has agreed to the terms of this deal or not? What is taking so long to get a final signature?
This is taking things too far, even for a pinkie. Enough is enough. Come clean with the stock holders who have supported this share price long enough.
For all who got in during the sub penny days, no problem, you can wait until the cows come home for this to pay off big. But for those who got in at the recent highs, before and now, I am certain are as frustrated and cynical as I.
Just speak plain old English. Is there is deal or not? Or are you simply talking out there to anyone and everyone, and no one wants to quite meet your terms. I will give you that much benefit of the doubt, rather than saying "you have no deal".
Is this is just another exercise in testing how long we shareholders can hold on while those who need to dump at these highs dump and wait for the next low's to buy back in.
Really folks, I hate to be so cynical, but this is deja vu all over again.