Thoughts and opinion........................................
My recollection is that the shell MGAR was purchased by Mr.Chad Curtis in 2006 for ~$600,000.00 and given a new trading symbol MDOR.
"Magnum d'Or Resources Inc. (the "Company") (OTCBB:MAGR) today announced that its 1-for-40 reverse stock split of its outstanding common stock will be effective on Monday morning April 24, 2006.
As a result of the reverse stock split, the number of its shares of its current outstanding common stock will be reduced from 199,667,370 shares to approximately 4,991,684 shares of outstanding common stock."
"the company wishes to inform its investors that as of Monday, February 25, 2008, according to it Transfer Agent (Holliday Stock Transfer Company) the total number of outstanding shares of the company stands at 26,630,914 of which 10,000,000 are non-registered Preferred shares, 10,445,871 are both Restricted common shares and Rule 144 stock, and 5,985,043 are free trading shares.".
As of November 11, 2008, the share structure was reported as:
"Authorized: 200,000,000, Preferred: (voting, non-convertible): 10,000,000, Common Outstanding: 22,416,637,Common Float: 8,914,043"
This past Friday I viewed briefly a post providing a link to the anticipated 10-QSB filing and read of the issuance of ~26 million shares. I do not see it now. OK, I am going to assume the worst, that is, the outstanding share total has been dramatically increased, doubled in fact.
Prefacing the coming remarks, it is my belief that Mr.Chad Curtis has complete ownership of the ~10 million voting Preferred shares, which, if recollection serves me correctly, expands to a 20 to 1 voting influence in corporate decision- making, that is, an equivalence of 200 million common shares of voting power. The Preferred shares have no monetary value and cannot be sold in the open market. In essence, Mr.Chad Curtis rules this company. All MDOR decision-making falls at his doorstep for final approval. I stand to be corrected on this issue and please forgive my failing memory.
That being said, if I wish to justify this share expansion and if I also assign 25 million additional common shares to Mr.Chad Curtis, I shall presume that Mr.Chad Curtis is entitled to his fair share of ownership in the company. Note that 25 million shares, with or withoutout the voting power of the Preferred shares, represent a near majority of the outstanding votable common share total and reflect a value of $0.08/MDOR share, with these following assumptions: based upon his initial $600,000.00 investment, a salary of $10,000.00 month ( + incentives ) for over two years, as well as additional personal cash outlays which I may generously assume to be in the order of $1 million ( just a guess of course ), I shall assume Mr.Chad Curtis has invested ~$2 million of monies, in addition to his heart and soul, towards MDOR's success.
So, as its Founder, having contributed by my own estimation ~$2 million of monies and efforts, and in light of the fact that he may have only 10 million Preferred Shares, all nontradable, how many shares would Mr.Chad Curtis deserve at this juncture in MDOR's corporate history? Shareholders need to be the judge! But do these additional shares require shareholder approval ( ? 26 million 'consultant shares for corporate use ) and will it make any difference owing to the fact Mr.Chad Curtis has a stranglehold on the "voting shares" by virtue of his ownership of the Preferred?
That being said, corporate share structure is critical and must be transparent. The use of " Consultant Shares " is IMO deceptive ( see filing end December 2007 when 10 million were issued ) and obviously just a technique that plays into the 'pump' and then ?'dump' postings of many at this BB. MDOR so-called "supporters" must be paid. Man cannot live on 'consultant shares' alone and these must be exchanged ( nontraceable ) for 'hard cash'. Also note until recently, has anyone seen evidence of cash flow? Such is the nature of these type BB forums, ones dealing with OTCBB trading companies. Mr.Chad Curtis knows the ways of the Street and may play it to his own advantage. Hopefully, yes hopefully, new and old, shareholders will see the fruits of his efforts in the coming months. Measured material progress is the key. MDOR to this point is just a rubber tire shredding business, one of many. The SRI relationship with its purported liquid rubber processing patents is the real 'kicker' and may or may not bear fruit aka liquid rubber and be recognized by the Street with a significantly higher share price.
IMO it will most probably take until mid-end 2010 to see profitability in this company if all ( feel-good News Releases ) comes to pass, and that includes an improving tenor of the public markets. Is the current market capitalization of ~$20-25 million justifiable assigning a $0.50/share value to present and future MDOR business prospects? I have no idea.
So, the share price, much like my mind, may meander until then and promotional activity with ?consultant share selling? at this IHUB BB may continue to play into the overall excitement and dreams, shall I say 'fantacies', of those buying shares of this so-named MDOR paper. The best solution for solid underpinnings to the MDOR share price in order to quell doubts ........ a credible and significant multi-million dollar financing establishing the reality of MDOR's business strategy going forward.
Best of luck to all,
DSH
