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Tuesday, May 21, 2013 12:58:30 AM
I'm willing to give you and MDMN the benefit of the doubt as to why they worded their Q&A the way the did. I won't quibble but frankly, it does seem a bit disingenuous. Why put out the Q&A with information that was later proved false?
![wink](/images/emoticon03.gif)
I agree with you though that there was really no compelling reason (at least that I can think of) as to why the company even needed to mention it in their April update with the impending default deadline approaching. Based on reports from Les Price, Ulander had constantly communicated his intentions to fund...even up to the 11th hour of the drop dead date. This was reflected in several updates as well. Ulander also communicated to some Medinah shareholders, myself included, of his intent on funding ADL despite issues with his European investors. So from Medinah's perspective, the BOD was led to believe that Amarant/Ulander intended on funding and as such, Medinah reported that the terms of the contract were still in force.
In light of the default, why does Amarant still claim to own 85% of ADL and still claim the contract with MDMN is legit? It's been week now; surely the BOD and JJ has addressed this. Any ideas as to why Amarant is still claiming ownership?
As an investor in MDMN, it must trouble you that their previous partner is still claiming ownership of the flagship property.
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