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No, it's not the first time you have heard of this (See, your post in the first link and the rest discussing the same):
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65927850&txt2find=nglobalink
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=71660845&txt2find=nglobalink
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=71652874&txt2find=nglobalink
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=69159586&txt2find=nglobalink
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=69060054
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65908252
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65905452&txt2find=nglobalink
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=53579008&txt2find=nglobalink
Been provided on this board numerous times by shareholders who have visited Boise and saw the wireless network first hand, there are videos of the speed tests on MediaG3's and Mesh Global's YouTube Channels, it is advertised in the CW Moore Plaza building newsletter http://www.cwmooreplaza.com/pdfs/newsletter.pdf , there are serveral PRs on the subject, and it even looks like Cass has discoveredthat one of MDGC's broadcast locations is from the building MDGC's new corporate headquarters is located.
Is this a joke? What frequency are the church radios ("90.35a - RADIOS USED FOR CHURCH COMMUNICATIONS") using? Obviously a frequency that requires an FCC licence:
http://www.gpo.gov/fdsys/pkg/CFR-2010-title47-vol5/pdf/CFR-2010-title47-vol5-sec90-35.pdf
MDGC uses frequencies that do not require a licence from the FCC:
Wrong again. The entire transaction has been booked and the A/S did not have to be raised. The rediculous theory about needing to raise the A/S for the Yuan settlement has already has been debunked ad nauseam.
If MDGC does truely have the disruptive wireless broadband delivery technology/system I believe it does i.e. "MediaG3’s micro cell network models" that will provide a solution to the spectrum crisis then the shroud of secrecy is very understandable. Now, MDGC appears to have completed its R&D phase and ready to show us the goods, so its plans are being revealed.
Last time I am explaining this, it is rather easy:
Interesting the building where the new corporate address is listed in the Q1 is prominently shown in the first part of the YouTube video posted 10 months ago called MDGC Boise Potential Customers. Along with Cass's pistures of the equipment, I am getting the feeling that this may also be a broadcast hub for MDGC's wireless broadband network. I think the photo shots from the roof top are from the 1501 S. Federal Way building in Boise.
We shall see if that opinion is valid. Given the heightened scrutiny of MDGC's financials due to the current reporting status designation, I would say the address is absolutely correct.
Nope, because MDGC settled the Yuan suit for less than 1% of the amount demanded in the complaint ($2,984,499.60). That's why I think there are reciprocal obligations.
Wow, so you are saying MDGC has had this space and has been using it for broadcating purposes for quite a while then. Thanks for the DD I beleive you are right that it is the same building.
https://maps.google.com/maps?hl=en&q=1501+S.+Federal+Way+Boise+ID+83705&ie=UTF-8&hq=&hnear=0x54aef8690dd2e69b:0x45a63ee3fdcb1964,1501+S+Federal+Way,+Boise,+ID+83705&gl=us&ei=74fJT9atAYGc9gT_-fT8Dg&oi=geocode_result&sqi=2&ved=0CAkQ8gEwAA
If to use the Satelitte view you can see the resemblance.
Nope. If the agreement has been reached as it was reported in the Q1 and to the federal court judge, the shares will need to be held in trust until delivered. Like I said when the suit was filed, I believe this was simply a preemptive suit to obtain a negotiating tool because Yuan left with MDGC assets he did not own himself. I discussed this all awhile ago. Do a search for nGlobaLink on this board for more information on that belief.
There is not a single fact in your post only unsupported generalizations. What do the financial reports before the Annual Report and Q! have to do with anything. These 2 reports nothing like the form used for the older financial reports in information or accounting and represent the overhaul of the financials and push for more transparency and accuaracy.
Before you say someone's explanation doesn't make sense you should be sure yours does. The 25MM shares were booked in the Annual Report and the January 2010 warrant excercise was updated in the Q1, thus the share amounts are in addition to each and add up to almost exactly 42MM.
Yuan may not have received the shares yet, but they have been booked and included in the total OS.
And, the best part for last, the AS was not increased.
It shows MDGC and Mr. Westergard are doing everything they can to stay within the AS.
Bravo MDGC and Mr. Westergard, Bravo!
The 2011 Annual Report and 2012 Quarterly Report show the great strides MDGC has made to bring value to its shareholders, clean up its balance sheet, settle lawsuits, cancelling the media credits and having shares returned to the treasury, and provide information about its operations, services, and technology.
On February 21, 2012, we reach a settlement agreement with our former President for various amounts, totaling $1,981,205, which was owed to him in exchange for 42,000,000 shares of our restricted common stock, valued at $25,200. This agreement caused us to have a gain on debt settlement of $1,956,005, which is reflected in our Statement of Operations.
MDGC also settled the Yuan suit for less than 1% of the amount demanded in the complaint ($2,984,499.60).
How so? MDGC's liabilities have been drastically reduced. That is a huge step forward for MDGC and its balance sheet.
MDGC zeroed out liabilities for compensation payable to a shreholder, zeroed out Employee benefits payable, and zeroed out accrued staff salaries all in the last quarter. Gee, I wonder who forfeited their benefits and salary.
6. OTHER PAYABLES AND ACCRUED LIABILITIES
Other payables and accrued liabilities consisted of the following:
March 31, 2012 December 31, 2011 (unaudited)
Compensation payable to shareholder $ -0- $ 180,000
Employee benefits payable -0- 106,535
Accrued staff salaries -0- 1,447,500
Other taxes payable -0- 102,871
$ 121,390 $ 1,906,711
There was an adjustment of 2011 Annual Report Cashless exercise of outstanding warrants for Convertible debt on January 20, 2010
(154,744,444) vs. 2012 Q1 Cashless exercise of outstanding warrants for Convertible debt on January 20, 2010 (137,455,554). Probably from information obtained from Yuan.
If you add that difference to the 2012 Q1 Shares issued for cash at $0.0004 per share on January 25, 2012 (25,000,000) you get 42MM shares.
MediaG3 1st Quarter 2012 Interim Financial Report
http://www.otcmarkets.com/stock/MDGC/financials
Unless of course the statements made in MDGC's 2011 Annual Report are true (notice the last sentence below in particular):
OVERVIEW
MediaG3 incorporated in Delaware in December 2005 and is principally engaged in the design, development and deployment of wireless broadband and wireless network products, services and solutions. Our products and services significantly reduce the cost of communications and produce greater efficiency in communication with tangible results.
MediaG3’s products and services have been designed to make wireless broadband communications possible in areas where the lack of or cost of fixed or wireless infrastructures has made it prohibitive to do so. MediaG3’s products and services are specifically designed to enable cost effective solutions for wireless communications and content delivery to targeted customers, provide complimentary off-load capabilities for other wireless providers and wireless broadband to those lacking in infrastructure, speed or throughput.
Current Operations
MediaG3’s near term business growth plan is focused on developing and building small cell or micro cell networks and network models to generate revenue via subscribers. Business plan and specific details about our micro cell networks will be forthcoming on our website.
Products
The company offers point-to-point and point-to-multipoint digital microwave transmission systems for first/last mile access, middle mile/backhaul, and long distance trunking applications. The company's products include broadband wireless access base stations and customer premises equipment for fixed and mobile point-to-point digital microwave radio systems for Internet access, backhaul, trunking, and license-exempt applications; and supporting network deployments, network expansion, and capacity upgrades. MediaG3 offers products and services to make wireless broadband communications possible in vast areas where the lack of fixed or wireless infrastructures has hereto for made it prohibitive to do so. MediaG3’s product portfolio offers this equipment, the installation of this equipment, and the service/repair of this equipment at significantly reduced cost to greatly improve the effectiveness of corporate, small business, and residential communications.
Services
MediaG3 offers Internet and Internet related products and services. The company also engages in residential ISP services, broadband wholesale marketing, and retail direct fiber connections to the internet for large and small businesses.
MG3 Wireless
MediaG3 Wireless offers a variety of fixed and wireless broadband products, services and solutions referred to as wireless networks, access points or micro cells; using a hybrid of wired, 802.11, 802.16 and Local Multipoint Distribution Systems (LMDS) which may use licensed or unlicensed frequencies. Target markets are those in which the availability of broadband access is limited by a shortage of existing telecommunications infrastructure over the “last mile” between the typical wireless carriers, cable or fiber optic networks and their customers; lack of capacity or delivery speed available.
MG3 wireless is typically a sectorized, point-to-multipoint communications system “over the air” that provides a two-way wideband signal transmission into service areas up to seven miles in diameter where it would be prohibitively expensive to lay fiber or cable to reach these populations.
MARKET ANALYSIS AND COMPETITION
Internet and wireless subscribers are finding their service providers currently lack the capacities to adequately provide the data they need, the data speeds they want or they are being charged more for additional quality of service. This “spectrum crisis” is more than apparent in most cities. Existing wireless carriers and local Internet service providers are searching for economical solutions to “off-load” their data demand to local small or micro cells. MediaG3’s micro cell network models have been designed specifically to meet these bandwidth needs and are a perfect complementary solution.
http://www.otcmarkets.com/financialReportViewer?symbol=MDGC&id=82295
How do you know:
I am that is why I am here. If MDGC's network provides the bandwidth on the frequencies it mentions in the Annual Report and speeds shown on those YouTube videos, we will both be looking at a company with potentially disruptive technology that can provide at least a solution to the so-called spectrum crisis.
We shall see. But, I feel confident any close scrutiny of MDGC either contrived (emanating from false complaints) or as a standard operating procedure due to the limited info designation will only serve to strengthen MDGC's legitimacy, silence its detractors, and give MDGC a boost forward. So, I look forward to this "noose" affect. It has all been tried before with the BBB and we all know that those attempts to undermine MDGC failed miserably and they will fail again.
How do you know it was not followed through or the relationship now focuses on other revenue generating avenues? Show us that there is no current affiliation. If you can't show affirmatively that there is no current affiliation then maybe there is one.
As applied to MDGC's business:
Financial information is protected as private and confidential. You are inquiring about information you are not entitled to know and worse spreading it on a public forum.
Then please show us evidence that TSTC is actually providing 4G services.
So, then you agree with me that TSTC does not provide 4G services as it advertised at the wireless convention in New Orleans.
This seems rather contradictory:
I get the feeling you are trying to convince yourself, not us.
That's the problem. It appears to be false advertising based upon the statements made in the 10K and Telestone's own website:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=75910964
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=75519031
I only see a sign that says 4G.
No wonder there is all of this concern about TSTC marketing itself as a 4G LTE provider at the wireless conference in New Orleans. This is the company own description of its current business:
For more than 10 years, Telestone has installed radio-frequency (RF)-based 1G and 2G systems throughout China for its leading telecommunications companies. After intensive research on the needs of carriers in the 3G age, Telestone developed and commercialized its proprietary third-generation local-access network technology, WFDS(TM) (Wireless Fiber-optic Distribution System), which provides a scalable, multi-access local access network solution for China’s three cellular protocols. Telestone also offers services including project design, manufacturing, installation, maintenance and after-sales support.
http://ir.telestone.com/irwebsite/index.php?mod=profile
Lol, why not just use GoDaddy.com instead of webhost4life. This certainly does not appear to be a cutting edge technology company. No wonder no one knows anything about this company.
http://www.webhost4life.com/
That's funny, the english link takes you back to the 2007 website. Very professional. You'd think all that money TSTC claims it is making could be spent on a decent website.
The site you posted is as criptic as it Financial Reports.
You mean this 2007 website:
http://www.telestone.com/english/about.asp
Not exactly the type of website I would expect from a company that claims $100MMs in A/R. Lol.
Surely there is another one to which to are referring.
You posted the quote, just want to see its source.
Still waiting for "Please show any instance of an intention to commit fraud in this report".
What "new equipment" are you referring too?
Why would the risk language change if the foreign business is an active part of the business plan? That has absolutely nothing to do with:
The Annual Report represents a candid view of MDGC's history, potentials and actuals. Nothing is overstated, the bad debt was recognized as such and the media credits were removed with the shares returned thus lowering the OS. Please show any instance of an intention to commit fraud in this report.
Based upon the recent PPS action, I would say that the current float is extremely tight being held by those who feel confident in their ivestment in MDGC. Once the Q1 and the attorney letters are filed and pink status is returned I am sure the float and OS will be updated on OTC.
It is clear that MDGC is pursuing the interests in China and the Philippines that could not be exploited due the ransacking of the company and PPS by the former administration.