Replies to post #76781 on Medinah Minerals (MDMN)

[Minichiello]

Are you going to anticipate some money or are we going to reverse split and keep selling shares?

When you consolidate the outstanding shares on a 1 for 10 basis the authorized shares also consolidate by the same ratio. For example, the authorized shares for Medinah would be 300 million after consolidation and the outstanding would be 299,644,849. The number of shares available in the company treasury would also decrease by this ratio leaving 355,151 shares available for sale. Conversely, the share price would rise by a ratio of 10 therefore the shares would trade at a price of $0.05. At $0.05 this doesn't leave much money to be put into Medinah's bank account after their sale to the public.

Les is smarter than anyone on MDMN board and way smarter than me and you too.

Les may be way more experienced at thievery than any of the Board members but that doesn't make him smarter.

[Hurricane_Rick]

Pocho:

So far we didn't get any news from Auryn even though they said they would be profitable before the end of 2016.

Apparently you missed the 11/15/2016 update from Auryn

http://aurynmining.com/caren-mine-update-november-2016/

"We will not make our goal of producing 5,000 ounces in 2016, however, we do expect to be cash flow positive by year-end. We will provide a more detailed update with the results from our test shipments once they are available and will inform our shareholders when we achieve consistent production."

We're MDMN going to get the money from to sue Les?

Until revenues come in, they can get money from shareholder loans (e.g Chapin). Revenues should begin coming in just after Q1 or Q2 2017, so any loans would be short term and I wouldn't expect the legal bills to be that exorbitant at this point as the legal posturing takes a long time with extensive waits and deadlines before things start moving along.

It is also possible that they could make an arrangement with MASGLAS or other investors familiar with Auryn to borrow against future production.

Are you going to anticipate some money or are we going to reverse split and keep selling shares?

Yes, from revenues on the ADL. No reverse split contemplated at this time that I know of. MDMN is trying to claw back shares and avoid selling shares, particularly when the share price is so low.

Les knows MDMN doesn't have the means to go after him that is why is suing before they even got their heads together after they figure out they got robbed some 1.5 billions shares.

Les is trying to take advantage of MDMN's current weak financial position and going on the offensive when it is abundantly clear that he is guilty as sin and his lawsuit is as frivolous as they come. Les filed suit AFTER MDMN discovered his abuses.

Les is smarter than anyone on MDMN board and way smarter than me and you too.

See Minichiello's response. I'll just shake my head at how misguided and backwards your observation is.