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Countdowns are very popular in pink sheet scams. Remember, the big news is always going to come out "next week". The countdowns, fraudulent PRs, faked financial statements, and lies that keep shareholders hanging on.
I have no doubt that the presentations in Las Vegas are going to wow shareholders. They will walk out of the meeting grinning ear to ear, slapping each other on the back, and counting the money they know will soon be flowing into their accounts. Bacon wrapped scallops, shrimp cocktails, and all manner of Kobe beef will be consumed as they toast their good fortune. The 1.6 BILLION fraudulent shares will be an afterthought - Auryn and the MDMN BOD will have told them "its no big deal". The price will spike in the following week and flippers will make a bundle. Once the euphoria dies down, the price will slowly sink back down and shareholders will once again be disappointed. Lather, rinse, repeat.
Another popular activity in pink sheet scams is the "sharecount". This rarely is accurate (they all lie about their holdings) and generally is an exercise in futility. In this case though, it might have actually been somewhat accurate given the FRAUD that the BOD perpetrated here.
I'm looking forward to the meeting...I actually might be there...
News flash, there are no shorts; never were any, never will be any. Auryn may be in full control but I'll bet they're looking for ways to jettison the dead weigh. A legit mining company would never want to be partners with a scam like MDMN especially after blatant fraud was just revealed. I'm guessing some high priced lawyers are working on a way to unload the albatross.
Was I right Ms. Beth? Is MDMN nothing more than an insider share selling enrichment scheme? I think I said that about a year ago and was roundly criticized by the band of MDMN lemmings. Gee who would have thunk that a little "unbiased" DD that didn't come from the MDMN tree house was actually right. This company has been a scam from day 1 and will continue to be a scam for perpetuity.
I don't know how much difference it will make to MDMN shareholders but it does show that Auryn is progressing (or at least reporting that they are progressing) on the project.
The problem is that either Auryn went into the deal knowing about the fraud (possible but not probable unless Auryn is itself a scam) or they went into the deal not knowing about the fraud (more plausible but it sure shows a lack of basic DD skills on their part). Now that massive fraud has been perpetrated on their partner by none other than the BOD (most likely although we do need to wait for the facts to come out), I can't imagine they are going to stay shackled to the MDMN albatross for much longer. I'm not a contract expert but I'm sure there must be some clause that allows them some form of recourse if their partner engaged in fraud. The documents will need to be made public before a reasonable assertion can be made on the future of MDMN. That informational meeting should be a lot of fun - I think Auryn is going to be honest and upfront with the MDMN faithful and my guess is they won't like it. Who knows, I'm sure we'll all be treated to riveting commentary by the true believers and everything will be rainbows and unicorns.
MDMN has always been a scam. The difference now is that Les Price has been exposed for the criminal that he is and has always been. At this point, shareholders are hoping for a miracle, something I doubt they will get. As Janice stated, MDMN is a cult stock and many people are emotionally invested in this POS scam. I think the run is over...if there is gold in the mountain (a fact I find rather implausible given that majors have consistently passed on the opportunity to develop it), Auryn won't be passing any of that cheese to the MDMN shareholders. I expect things to get worse. BOHICA shareholders, BOHICA.
That is quite a compilation, a greatest hits if you will.
It appears to me from reading various blogs outside of this one that the shareholders are seemingly content to take this kick in the gonads and just move on. There have been some discussions about lawsuits, but it seems like many are resigned to their fate and are hoping that whatever is in the ground in Chile, will resurrect their share price.
Remember the PR about Buyins.net? How much money did Les send over to that clown show when he knew full well what he was doing. I wonder if that was a purely fraudulent PR (i.e. he never even hired the firm. Maybe that is something concrete to nail him on now and tie him up in litigation for the foreseeable future.
Your post begs the question I've asked several times - why would you or any other rational person, invest in a company where the odds are completely stacked against you?
I'll bite. So by your logic, NSS is virtually impossible to stop, extremely lucrative, and happens on a regular basis (i.e. a big problem). On top of that, you claim that these criminals know they have almost no chance of being caught. If their ultimate goal is to destroy small companies like MDMN so they can profit, why on earth would anyone invest any cash in a pink sheet stock? Seems like the odds are completely stacked against you and no person with 2 brain cells to rub together would want to bet against the odds if they are that bad. Just wondering how you can justify putting money into a company when you have virtually no hope of ever realizing a return.
Nope. As far as I know, once you complain to the SEC, the ball is in their court. They do not comment on ongoing investigations and unless they contact you, you won't get anything out of them.
MDMN is a pink sheet scam and there are thousands of these going on all the time. The SEC is not staffed to handle the volume of fraud emanating from the pink sheet swamp and sadly, most of it gets ignored unless it is so egregious that they need to step in (e.g. Monk's Den, CMKX, SPNG, etc). I doubt MDMN will be suspended. FWIW, MDMN has been reported to the SEC on multiple occasions and yet the scam continues. The share selling is bad but probably doesn't meet the SECs standard for stepping in and suspending the stock. Shareholders should be counting their blessings. If MDMN does get suspended, you can kiss it all goodbye - it would reopen on the gray sheets and nothing good comes from that.
The company stated in the press release that they contacted the SEC and FINRA. I know of a few shareholders who filed complaints as well.
All, HR is right on the iHub TOU. It doesn't matter what we think, iHub has rules and we all must follow them. If a person is an iHub poster, they are off topic, no exceptions. I made an inappropriate reference a couple posts back and my post wast rightfully removed. Those publicly associated with the company are fair game but other posters, regardless of what we think of their motives, are off topic.
That's a decent retirement nest egg and a massive fraud even by pink sheet standards. Big numbers like that make me question if he was the only one in on this scam. 1.6 billion shares is a lot to unload. I think he had help, and a lot of help. The real fireworks will begin if his accomplices start singing. Names may come up...nothing shocks me about MDMN anymore.
I'll ask simple yes and no questions to unpack this concept. Please answer each of my questions with a yes or no response. We'll take them one at a time.
Were approximately 1.6 BILLION shares of MDMN illegally sold into the market?
NSS is nonsense. You know it, I know it, and the rest of the world knows it with the exception of the deluded masses who constantly flush money down the toilet in the pink sheet scamfest. What proof do you offer that NSS exists? I offer you proof that it doesn't - exhibit A: MDMN. Wild fantastical claims of ENNSFM abounded and yet when the truth came out, all the NSS fantasies were lies and the truth was shareholders were scammed, once again, by unscrupulous con artists who robbed you and a myriad of shareholders of their hard earned money. You can chose to believe the truth or continue to live in a fantasyland where the sky is purple and Les Price is a man of integrity.
Shorting occurs in the normal, regulated stock market. It rarely occurs in the Wild West pink sheet market. NSS never occurs in the pink sheet market. It has been demonstrated time and time again that NSS is impractical to do on a pink sheet scam like MDMN. What people think is NSS is very simply insider fraud; the very same fraud that was recently perpetrated on your beloved desert dirt, insider enrichment, share selling scam. Welcome to reality.
Fair enough, I'll ensure I don't mention any of the other folks (iHub posters etc.) associated with this scam except the dentist.
I still think that any investigation going forward needs to look at his trading records and posting history. His fantastical claims of NSS probably influenced some shareholder's decision on wether to buy, sell or hold. Either he's a complete imbecile or he's in on the scam. No one spends that much time on the NSS canard out of the goodness of their heart. Explaining fraud away by claiming the market has "priced it in" is an insult to the intelligence of an ordinary person.
I'll abide by the TOS - but you're a smart guy and can deduce who else may have been complicit.
Last I checked, shareholders were begging him to opine but he was strangely silent. He may have posted since then but I don't know. The yarns he would weave about "disconnects", NSS, and "gold in them thar hills" we're treated like treatises from Plato and Aristotle. I'm sure he loved the praise and eagerly fed the gullible masses his brand of BS. Now that everything he spouted, especially the crap about NSS, turned out to be a lie, it appears he's fled into the shadows. Seems like he owes the lemmings in his little following an apology but I doubt that is forthcoming. His favorite company was run by crooks, maybe he'll admit he was the one "disconnected" from the truth.
Not sure if it has been posted here but the MDMN mining scam is falling apart. Nefarious BOD members (most likely Les Price), issued themselves 1.6 billion shares and dumped them on unsuspecting shareholders. Quite a bit of carnage.
That is a sad post and one that took a lot of courage to write, especially given the folks who moderate the sister site. I wouldn't be surprised if the post was removed and the poster banned with extreme prejudice. They have been ridiculing us iHub posters for years and yet surprisingly, we were right. How about an apology...I won't hold my breath. FWIW, I compiled very similar DD years ago from some very reputable players in the mining industry; boots on the ground in Chile. Frankly, while this post saddens me and I feel for the person, he was starring at red flags left and right but chose to believe a dentist and an online persona instead of friends with real experience. I hope he'll learn his lesson and maybe realize that just because someone disagrees with you, doesn't mean they want to hurt you...sometimes, they want to help. Us "bashers" here don't have an agenda, we're just trying to help folks realize their mistakes before it's too late, period. Most of us gave been scammed...ever wonder why we hate scammers so much?
There are more than a few shareholders who want to toss his geriatric ass out of the Empire State Building. I wonder if he'll fake his own death - I recall a stinky POS director tried to do this a few years ago.
If that meeting gets cancelled, the remaining true believers are going to go into conniptions. If I were Auryn, I'd hold the meeting and try to explain everything. They need to be 100% transparent and toss MDMN right under the bus. If there is a future for MDMN, they better be clear about that. If they plan on dumping MDMN like a bad habit, they better be clear about that to. If they are honest, they win no matter what. Shareholders are going to take it right up the pooper but at least they won't be lied to while it's happening.
They may but they already own 75% of the mountain anyway. If there anything there, I think they would use this latest episode to leverage MDMN out of the remaining 25% and keep it all for themselves. Not sure if there is a clause about illegal activity in the contract but my guess is they can probably jettison MDMN pretty quick if they need to. If I was in charge of Auryn, I'd be looking for a way to offload this albatross as soon as possible.
This whole episode is really pathetic. Many of us knew MDMN was a scam from the beginning but no one listened. What is more pathetic is the spin from a variety of shareholders thinking that this news somehow cleans up MDMN and the company can now move forward. MDMN is an onion with many layers of malfeasance. I wouldn't be surprised if this is just the tip of the iceberg, granted, a rather large tip, but still a tip nonetheless. I'm betting there is much more illegal behavior left to uncover.
Seriously...time to move on?!?! You must be joking. All those shares you have bragged about accumulating just got diluted by 1.6 BILLION SHARES yesterday and you say time to move on? The MDMN BOD robbed you and they don't give a flying f***. Les is laughing his ass off at the shareholders while you are left to pick up the pieces. I wouldn't suggest "moving on", I'd suggest lawsuits although I doubt they would do anything. The SEC I'd probably just content to let this turd circle the drain and slowly die like all pink sheet scams eventually do.
Oh that's right, he's been jet setting all over the place having meetings and conducting "company business". Too bad the company business the PRs spoke of was fleecing shareholders, lying through his teeth, and scamming the living s*** out of them.
He is in his 80s. Been living off his scams for decades. Shareholder financed champagne wishes and caviar dreams.
Well if we're being perfectly honest, Sasquatch has had problems with the regulators in the past. Les is so crooked, he makes the Gambino crime family look like the Little Sisters of the Poor. But he's laughing all the way to the bank on this one. Given Les' previous regulatory issues, it would be nice if the SEC shut this turd down until an investigation was conducted.
Les always has an excuse and no matter how stupid and fantastic it is, the lemmings always believe it. This time will be no different - Les will spew forth some serious BS and all will be well with MDMN. Good grief, he's done this for more than 2 decades and the gullible masses lapped it up...why stop now.
Les' malfeasance has been documented in many occasions. Only those with their heads in dark and remote locations thought he wasn't a complete crook. Who knows how much he made on this scam but my guess is it was plenty.
Well they all hate Les now but they still "know what they own" so the riches of the mountain are blinding them. I think part of this could be some penny flippers given the 30% haircut yesterday.
As for Les on the run, it would be tough at his age especially given his fall last year in Chile and his propensity for booze. At this point, I'd wager most shareholders are hoping he takes another fall down a much steeper flight of stairs. There is some real anger directed his way right now.
MDMN is back in hot water...again. There are rumors that Les is on the run. I don't blame him given that shareholders are probably sharpening pitchforks and lighting torches as I type this. My guess is that the SEC isn't paying attention because MDMN is a crappy pink sheet POS that does what all crappy pink sheet POS' do; screw shareholders. Some are saying that Auryn will recover all kinds of assets. I'm unsure how they will un-issue all that stock (1.6 BILLION shares) but I suppose it is worth a shot. I honestly feel sorry for all the shareholders who fell for the lies. I've lost money in scams before and it isn't a pleasant experience. What should really torque the shareholders are the MDMN BOD apologists or those who pushed the naked short selling canard. Those people should be ashamed of themselves.
I doubt this gets suspended or halted but if it does, look out, it won't be pretty. This pile of excrement will head to the gray sheets and that will be the end of MDMN. Les Price ripped off the shareholders and made bank. I'd be interested in which apologist shareholders helped him along or at least knew about the fraud. I think the list of names would be very surprising. Hopefully the SEC comes down on this like a ton of bricks but odds are they won't. The only people that will make out on this deal is Auryn - they got most of the mountain and my guess is they probably have a way to get it all now that they really have the upper hand. This is going to suck for a long time.
LOL or as you used to say, lolissimo.
Good point, although this maybe his longest con of them all. I'd rather be on the Hindenburg than a shareholder in this catastrophe.
They should but they probably don't care or are too busy. Looks like people are bailing from this sinking ship. Les did a number on shareholders this time around.
Oh snap...shareholders are figuring out their previous gold mine was just another stinky pinky. Now that Auryn is holding all the cards, tell me again why they even need MDMN? Last one left, turn out the lights.
This meeting won't be run by the same bunch of carnies who ran the last few. Les in his velour tracksuit, Juan of "tap the breast pocket" fame, or the other scoundrels most likely won't show their mugs in public. To be on the safe side, if I was a shareholder, I'd bring a pitchfork and a torch just in case Les and his gang of circus clowns show up.
I've been a critic of MDMN for a long time but I do think that Auryn is doing the right thing here. They appear to be a legit business venture. For the sake of shareholders, I hope they will provide clarity of the current situation and a solid plan for the future.
I looked up "turd" in the dictionary and found this chart.
Good news release. I guess this puts to bed all the chatter about ancillary agreements which was prevalent in other forums. I wonder if folks will apologize for the blatant falsehoods they peddled.
OK lets get back to the realm of the believable.
Do you even know what a Wells Notice is?
The odds of MDMN reaching $1 without a massive reverse split are about as good as me building a house on the moon.