I am very confused :
This company, seems to have started from nothing.
Granted there is no income as of yet, but I find that very understandable in a business and economy like this.
They managed to put up a plant in Canada (get the req. licences, employees etc.)
They managed to buy one of the biggest tyre monofills in the country and snatch it from under the noses of the big companies, for a fraction of the price. If the available tyres are 35+ million or so(as per the Denver news paper) then the steel alone from the tyres would be worth 7 million dollars. (this is without the rubber, real estate, other assests and future tipping fees)
They managed to get extremely encouraging results from the RRI in Malaysia.
I did read about the 15 million loan from SIMCO, which is the same amount that was offered to buy the monofill (as per the Denver post), which means that Magnum ended up buying the land for less than half the amount and did not burden the company with a 15 million dollar loan. WHY IS THAT A PROBLEM ?
maybe the shares are worth less than the current value or maybe they are worth more, only time will tell.
But for sure it does not seem like a scam !
unless they dont have a plant in Canada, they dont own the Colorado Monofill and the results from the RRI are fake !
Just my opinion
