I find it incredulous that there exists in our minds the notion that there still is any modicum of goodwill on the part of the BOD vis a vis the shareholders. To put it in the simplest terms, they are out for themselves and have used this pink sheet vehicle to enrich their pockets. The question is not whether or not the BOD is required to report certain material facts by the SEC, but rather what is their responsibility toward the shareholders even if the SEC does not require a pink sheet company to report certain information. And additionally, what have they reported to the public and what have they concealed from the public, and why?
A practicing barrister and a former cop who is trained in fraud should know what it means to intentionally withhold certain material facts that would have either a negative or a positive impact on the share price.
These men of the BOD, with the exception of Les, were represented to me as being honorable, capable, knowledgeable and most importantly, ethical.
They cannot yell fire in a crowded theater and stand back and watch the disaster that unfolds while they benefit from the stampede and then be considered as having made a simple mistake.
They made all sorts of claims to us shareholders when they held the infamous shareholder meeting in LV as they revealed their coup d'etat with that marvelous fraudster. We are now a "capital" company. On and on.
They have cried wolf too many times. Even if they are given the benefit of the doubt as being incompetent or any other manner of operational weakness inherent in their leadership, historical announcements, news, or lack thereof, not being transparent with shareholders, misinforming the shareholders and using would be buyers as opportunistic means to increase share price and possibly sell into such rallies has given rise to their appearance of being scam artists. Sorry, that is the plain scene as I view it, and there are many here who have even stated the same sentiment and still do.
So seemingly the Letts family name has now lent a certain air of respect and has given Medinah and the BOD a new life. If the exploration currently underway does not prove up and if this new offer for the remaining claims of NUOCO is just another $100M option to purchase offer with certain threshold of exploration expenditures, protracted over several years, we are in for another disastrous decline in share price to levels that would make even a grown man whimper.
You have to wonder how many lives does this cat have.
