Medinah Minerals (MDMN)

[jetpilot1101]

This is attributed to Leslie Price.

I have tried to be helpful as best I can in answering the various questions as I have the history from day one when the first shareholders meeting was called in1989 at lake Elsinore California and as we waiting for the meeting to start we wondered if we would be able to mount a quorum and lo and behold, one shareholder by the name of ray (hey, notice is was a guy names Ray: I inserted this ha!) walked in and we had the first meeting underway. Compare that to the last meeting when we probably had 400!!

Go back to the shareholders meeting in 2004. Medinah had no property. The company had defaulted in about 9 million in payments to Juan Jose. Gordon and Russell were turned out by the shareholders I asked Larry and Greg if they would stand for election. They both refused but finally agreed and they were elected directors. The creditors of the company disclosed how much the company owed them and all agreed to not proceed with their claims, except Gordon and Russell who refused. At that point the company was basically a shell with no property. The shareholders asked Greg, myself and Ian if they would go to chile and sit with Juan to see if an agreement c could be reached to salvage the property. Obviously we all paid our own way as the company had no money. To shorten things up we met, came to an agreement whereby Medinah chile now owned a 50 percent interest in the alto, Juan Jose assumed personally all the debt of the company except Russell and house, and the company was basically debt free and owned the property from 2004 to 2013 Juan has maintained the property and paid all the taxes each year which amount to one heck of a lot of money. What has he received??? The preferred shares as payment, approved feb 17, 2012 which he cannot sell??great? do the shareholders also recognise the none of myself, Greg CHAPIN, nor Juan Jose can sell a single share at this point in time??

I will finish by saying that I will stand in front of Juan at any time and take a bullet for him without flinching!!!

So let me get this straight:

1. in 2004, MDMN as NO property.

2. They had just defaulted on $9 million.

3. Larry and Greg get elected to the BOD.

4. The creditors forgive the $9 million.

5. The company is a shell with NO property.

6. Greg, Les and some guy named Ian go to Chile and chat with Juan.

7. They pay their way because the company is broke.

8. Juan agrees to give MDMN (I remind you a broke company with NO property) 50% of his claims.

9. Juan further agrees to assume the debt of the company. Wait, I thought the creditors forgave all the debt...

10. Juan continues to pay money out of his own pocket to maintain the property which is "one heck of a lot of money".

11. "What has he received"?

12. No member of the BOD can sell shares.

13. Les will take a bullet for Juan, how very noble.

Someone please explain to me how this sequence of event makes any financial sense whatsoever? Why would Juan give up 50% stake in his claims to a bankrupt company that owned nothing? If I missed something, please help me understand this arrangement.