Magnum d'Or Resources, Inc. (fka MDOR)

[againstallodds]

The story doesn't fit

a)Bankruptcy records show the deal was to allow for Magnum to purchase about 35,000 tons of tires, shred them on site under a separate lease agreement, then transport the product to Quebec for final processing.

MDOR always said they were getting tires for free, now it shows that they had to pay for them in addition to transporting them to Magog, way too far to be economically viable...

b)He'd bought the dump in 2003 for $3 million with the backing of one investor. Other investors followed.

MDOR Paid 6,5 M$... What a deal...

c)The previous ownership, Tire Recycling, is gone after its idea of using the tires for fueling a power plant flamed out. So did a plan to crumble the tires into tiny pieces for use in landscape applications.

Now MDOR will try to do the same thing, landscape applications...

d) Where is the money coming from ???

For his part, Immel got about 500,000 restricted shares in Magnum to cover his secured interests, and has another $800,000 in unsecured debt