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I would venture to guess most of the true believers have "had it with these guys" but they are either in too deep to get out, too embarrassed to admit they sunk money down a black hole or fear the repercussions from the "club" if they break away and actually logically reason this out.
This same scenario repeats itself over and over and over in penny land. Really sad.
I'm sure they are thrilled at their South American excursion. I think they would have appreciated more details, sordid or otherwise.
Here is the link:
http://www.otcmarkets.com/otciq/ajax/showNewsReleaseDocumentById.pdf?id=903404912
A week of meetings and field trips all on the shareholder dime. Ahh, the life of a pink stinker board member. It appears they forgot to inform the shareholders how much money was spent on booze, food, travel and geriatric hookers. I don't suppose those numbers will show up in some unaudited financial statement.
Par for the course...and the band plays on.
Latest from Les. I've copied the entire post so I'm not accused of cherry picking.
Looks like they are using the first truck.
http://www.andritec.cl/categoria.php?idg=2&cu=0&scu=1
Or they will google "donkey hano" and get a bakery in Hanoi.
http://www.google.com/#fp=fbea21e48b9c4240&q=donkey+hano
Hoffman could sell shares of incompetence and he'd be a millionaire.
Discovery is using that helicopter flyover by Don in the show previews.
Boy, Todd Hoffman just proved what a total ass he really is on tonight's show.
MDMN is probably lucky he is so incompetent and that JJ's property was a bust. No company should have to deal with a jack wagon like Todd.
Pink stinkers put out all kinds of BS and lies in PRs. Lots of people believe the stuff they say. That is their objective, to make as many people believe that they will be filthy rich if they just buy the stock. It's an insidious trap and one that has been working for a long time.
Here is some advice courtesy of a wise iHub poster.
#1). You have money. Other people want it. All of it!
#2). You want easy money. So does everybody else. They'll get it, too....yours! (and all of it!)
#3). You tell yourself you're smart. You won't lose your money. Fact: Other people are smarter, much smarter.
I will feel nothing regardless of what happens.
I got the Q&A from the tree house.
You are going to have to wait until the documentation is done and who knows what kind of problems they will run into finalizing that. Seems to me, there is always some mysterious notario who needs to sign something, a DHS agent wants more money transfer info, or the donkey ate the contract. Take your pick, I'm sure it will be fun to watch it play out.
It has already begun. (Answers from Les in italics)
It's a regular Jim Jones guzzle fest over there. I find it hilarious how when people make horrible financial decisions, rather than taking responsibility, they instantly blame the medium they feel is somehow responsible or their stupidity. iHub provides a balanced medium for all points of view. Just becomes someone presents the other side of an argument doesn't make them a basher. Money makes ordinarily intelligent people really stupid but the pink sheets turn them into complete imbeciles.
There is another one called "investors hangout" and it looks virtually identical to iHub. Doesn't come close to the traffic and is mostly a haven for those who want to silence any rational debate and keep the "evil bashers" from commenting on their "investment". Nothing but Kool Aid, usually the really potent stuff, is served on those boards.
They are replaying the Hoffman buffoonery on Discovery right now. Tune in to see them excavate the mythical $6 billion in gold. They have some bonus footage so maybe we'll see JJ "Don, don't you just love my fedora" Quijano crash zee rocks.
They haven't said "look where Medinah got its start" for 24 years now and I highly doubt they will say it anytime in the near future.
24 years of failure sure doesn't sound like a startup to me.
What is sheer nonsense is countless people investing in scams thinking they are going to get rich because one lowlife scammer wannabe CEO tells them they are.
It was because of the Bre-X mess that Canada clamped down on mining scams. It is high time that the US clamps down on the pink sheet cesspool; I'd be willing to bet that the losses fom all the garbage pink sheet scams far exceed the Bre-X losses.
Fraud exists everywhere, of that I have no doubt.
I never said that the pink sheets are the only place where fraud exists - don't put words in my mouth. It is just much harder to feret it out in the pink sheet market when naive investors are dazzled with dreams of untold riches, shorty and his evil minions and claims of revenues all of which never seem to materialize.
I would submit to you that the vast majority of companies trading on major indeces are legitimate. The reverse is true on the pink sheets.
Everything is not a gamble when it comes to investing. I take calculated risks and I prefer to mitigate my risk as much as possible.
Dollar cost averaging in the pink sheet market is a recipe for disaster. Throwing good money after bad is never a good idea and probably the single worst when dealing with pink stinkers.
The average penny investor can make 100 trades and lose just as much as the guy on the house. The guy who bought the house still has some value (e.g. land) whereas the average penny investor will be broke with a lot of worthless toilet paper. I'd rather roll the dice and own something tangible than roll the dice in a rigged casino run by frauds, conmen and general malcontents.
I don't rant about losing money on pinks - I don't trade them. My beef with the pink sheet market is the rampant fraud that is ignored by those people trying to strike it rich. I prefer to work for my money and then make wise decisions. I haven't always made the best decisions (I got taken by the pink sheet conmen on a few occasions) but I do learn from my mistakes.
Do what you will with your money. Nothing in life is free, it comes at a cost. In just about all instances, the naive shareholders of pink sheet scams bear the cost while the scammers run free with their ill-gotten gains.
But by all means, let's keep this institution of blatant fraud operating; after all, it produces untold numbers of millionaires...just the wrong kind.
"If you buy speculative homes from the court house steps or automobiles at the local auction, you are talking about the same thing as the penny stock market."
No you aren't. If I buy a spec home or car, at least I have the opportunity to put money in after my initial investment and repair damage or improve the asset. in fact, modt of the time, that is the very reason for the purchase. If I buy a spec stock, I have zero opportunity to do the same thing. At least a car or home has underlying value; a non-reporting penny stock has no value except for the word of the management team which is more often than not complete crap.
I can handle risk - I'm an options trader so I understand that concept well. What I don't understand is why people wouldn't want to do as much as possible to mitigate that risk.
But I suppose admitting that the penny stock market is nothing more than a rigged casino is tough to do. I prefer to stack the odds in my favor; an impossible task with pink stinkers unless you are an insider or a paid promoter - both of whom I find lower than politicians, lawyers and pond scum combined.
???
But just to humor you, I did.
http://en.wikipedia.org/wiki/Penny_stock
Yet JJ "Don" Quijano decided to go with Ulander and Amarant.
Kirk just keeps tweeting up a storm. I wonder how he knows so much?
Looks like at least one of the MDMN shareholders are telling others that Volcan is interested in MDMN.
It wouldn't surprise me in the least given their 24 years of failure to land any reputable partner, never auditing their financials and increasing their A/S from 100 million to 3 billion shares.
The SEC hasn't come calling...yet, but given that penny stock fraud is rampant and the regulators are beyond busy, they probably have their hands full with really blatant scams.
I've said it before and I'll say it again - the SEC, should give every company 1 year to get current, audited financials. If after a year, the company hasn't complied and can provide no legitimate reason for not having complied, they would cease to trade until they could comply. May sound harsh but it's the only way to end the blatant fraud in the pink sheet market that transfers wealth from naive investors to the pockets of criminals, crooks, fraudsters and all manner of low-life scammers.
Need I remind you that they are unaudited which means they could have made it all up. I wouldn't use the term "nice" to describe a document that has provides no possibility for third-party verification.
As you aptly pointed out in this post, it looks like Bryant is up to his old tricks. Something tells me he won't be getting away with it this time.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=91000492
http://www.barbadosadvocate.com/newsitem.asp?more=business&NewsID=31727
I take it since you are on a penny stock message board, that question is rhetorical.
Pink stinkers rarely if ever get their financials audited because more often than not, an audit would expose massive fraud, heavy dilution and general management malfeasance.
Latest unaudited financials from MDMN
http://www.medinah-minerals.com/pdf/15c-211-August142013.pdf
Most story lines are better than a Hollywood big budget movie. How many times have you said "you just can't make this stuff up". With all the epic penny stock failures out there, I find it hard to believe tat people still sink hard earned money into these turds.
Now back to MDMN...
2 and 4 are the only definitions that apply to MDMN. Good night.
LOL that's funny.
Unless you are selling them in droves to shareholders while gagging your TA.
What is a "Capital Company"?
Wait a minute, JJ bought the property because it was economically viable right.
15 years ago would equate to 1998. Don said that the work was done in 1986.
Do you happen to have a copy of the report? I haven't found it on the official website or anywhere else but I'm still looking.
This is what Jota holds at $1600/oz
Yes it was and quite regularly trumpeted in other forums.
The Hoffman's are incompetent miners and the 6 holes dug by a geriatric in a backhoe certainly don't count as a proper sampling. JJ is rolling in the dough, why hasn't he done some sampling on the property?
$6 billion...not so much.
I'm sure that comment was just lost in translation like the rest of his cameo.
The official website claims he has "over 250 mining claims registered in his name". But it also claims that the Madre de Dios project has $800 million in estimated gold reserves. Unfortunately, the NI 43-101 on the property (page 15-1) says "At the present time, there are no mineral resources or mineral reserves on the Madre de Dios Property. This is due to insufficient data to estimate mineral resources." I take anything written on their website with a healthy helping of salt.
http://www.globalgoldcorp.com/docs/20071204Valdivia.pdf