Share Structure: (11/11/2008) Authorized: 200,000,000 Preferred: (voting,non-convertible): 10,000,000 Common Outstanding: 22,416,637 Common Float: 8,914,043
Contact Info: Magnum D’Or Resources Inc. 1326 SE 17th St. Suite 513 Ft. Lauderdale, FL 33316 PH: 305-420-6563 FAX: 305-395-4858 mdor@magnumresources.net http://www.magnumresources.net
Business Description: In simple terms, Magnum recycles scrap tires into reusable, marketable materials; nuggets, buffings, powders, and crumb rubber each having their respective applications.
Magnum has a five year contract with National Sales & Supply(NSS) http://www.nsalessupply.comfor $131,000,000 worth of rubber buffings and nuggets for fulfillment of NSS’s contracts with retailers such as Wal-Mart, Lowe’s, Home Depot, and others.
Internal Controls: Magnum is a reporting company, and their accountant, Weinberg & Company, P.A. is one of the best in the business http://www.cpaweinberg.com/news.pdf Also, Magnum has recently retained Canadian consulting firm Raymond Chabot Grant Thornton http://www.rcgt.com/Aboutus.aspx?NavID=117&CultureCode=en to assist with internal controls and revenue projections.
Joint Venture: Magnum recently announced a new research & development program, long term partnership, and joint venture with Sekhar Research Innovations Sdn Bhd (SRI) http://srielastomers.comMagnum will receive immediate exclusivity for North America and future global rights to an array of next generation cost saving custom compounds targeted at a wide spectrum of applications. In addition, Magnum will have access to state of the art processing aids and new world proprietary rubber recycling equipment.
Production: Per last Thursday’s PR http://www.magnumresources.net/view-news.php?id=102 (11/06/2008) and a conversation with management today, production of rubber buffings has begun. Look for upcoming announcements on production levels.
Chart: The rising “Money Flow” and “On Balance Volume” indicate a great amount of accumulation has been, and is still going on.
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