Replies to post #67952 on MediaG3 (MDGC)

[Cassandra]

The most ridiculous statement in MediaG3's annual report is at the very bottom of the last page following the CFO attestation in which the Company claims to have a plan to repurchase up to 30% of the equity securities of the Company as cash flow and market conditions allow. This follows the same claim in the most recent press release announcing the new BOD..

Part F Miscellaneous

Item XXI. Purchase of Equity Securities by the Issuer and Affiliated Purchasers.

The Company has a plan to repurchase up to 30% of the equity securities of the Company as cash flow and market
conditions allow.

The company had only $55 in cash at 12/31/12 and hasn't even begun to build the wireless network it claims to already be providing. There is no known source of funding the build-out, yet the new Board of Directors wants shareholders to believe that the company plans to buy back up to 30% of its shares outstanding???

Where would the cash to do this supposed buy-back come from? Why would the company spend any money raised to buy back shares instead of build out its supposed network?

The claim of a stock buy-back plan is obviously bogus and just more evidence that MediaG3 (MDGC) is a scam and even more after the new BOD was appointed.

In addition, the New Board of Directors has authorized a share buyback program, as cash flow and market conditions allow, with the goal of returning up to 30% of the issued and outstanding shares to the corporate treasury

. http://ih.advfn.com/p.php?pid=nmona&article=56024735

[Cassandra]

Is this information about the MediaG3 CFO incorrect? It doesn't match information about MDGC CFO Stephen Moynihan supplied by the company including his work history and education. Did Bloomberg / BusinessWeek link to an incorrect person? Did MediaG3 possibly supply an incorrect link for Moynihan to Bloomberg/Businessweek?

Mr. Stephen H. Moynihan has been Chief Financial Officer and Treasurer of MediaG3, Inc. since January 28, 2013. Mr. Moynihan served as Senior Vice President, Planning and Development of Clean Harbors Inc. since 1996 and served as its Vice President and Treasurer. Mr. Moynihan has served as an officer of either Clean Harbors Inc. and one or more of its subsidiaries since 1987 and served as financial Consultant. Mr. Moynihan served as Vice President of Strategic Planning of Clean Harbors Environmental Services from 1990 to 1995. Prior to joining Clean Harbors, Mr. Moynihan was Audit Manager for Gerald T. Reilly and Company, a public accounting firm. Mr. Moynihan holds a BS degree in Accounting from Bentley College.

http://investing.businessweek.com/research/stocks/people/person.asp?personId=143499&ticker=MDGC&previousCapId=11323003&previousTitle=MEDIAG3%20INC

The following seems to be the LinkedIn profile for Stephen "Bud" Moynihan based upon information supplied by MediaG3: http://www.linkedin.com/pub/bud-moynihan/5a/810/956