Replies to post #59008 on Medinah Minerals (MDMN)

[Hurricane_Rick]

really, "extraordinary income" resulting from insider's returning common stock back to the company now in the form of treasury stock, my goodness, give me a break!

If not extraordinary income, how you would identify the donation/contribution in the income statement?

Why would the company NOT engage an actual licensed CPA firm to associate with their compilation?

The income/expense statements and cash flows have been compiled for the last 6 quarters or so by Scott L. Jensen, who is a CPA unaffiliated with the company.

[easymillion]

Beth, Really? "The first thesis was interesting."
Of course it was ... It Was from Berkley! lol
... and then you go on to say:

"For instance, one can not take any study sponsored by The Heritage Foundation (your third link) as being anything other than script supporting their political manifesto." lol

Would you believe the New York Times and the SEC recognizing as early as four years from the start that Sox was basically not a one size fits all piece of legislation?

The chairman of the U.S. Securities and Exchange Commission, Christopher Cox, has said that business practice audits required by the Sarbanes-Oxley Act are too costly and represent the "one notable exception" to the positive impact of the law.
Companies' bills for first-year compliance were especially high because of start-up costs and excessive efforts by the firms and their outside accountants, Cox told a hearing of the House Financial Services Committee…

Cox said Congress might have erred in subjecting companies to "the magnitude of the regulation that came all at once." …

Small companies have complained that the cost of complying with the law stifles growth by forcing them to spend their limited funds on audits rather than on research and development….

http://www.nytimes.com/2006/09/20/business/worldbusiness/20iht-sec.2875515.html?_r=0

There are just too many articles out there countering your views on the impact of the accounting requirements for smaller companies (<$75 million), which incidentally, are mostly anecdotally and put out there by the proponents of big government. Rather than hearing these are out there "to protect the individual investor" I'd like to examine the facts. For those public companies that individuals recognize as being high risk in the small business sector that we are focused on (Medinah is one such company) it makes no sense to expect that same level of transparency, IMO.

Lack of DD, and jumping in all at once, is a problem for some individuals dabbling in the penny stock sector. I hope you don't find yourself in that category. You certainly can’t go by everything you choose to google. I think the real problem you may have (temporarily) may be your 13 cent average cost at this point. It will certainly change your perception of what is right and what is wrong with this company. When PPS doubles from your entry point on this (or any stock) perceptions may change considerably.

I’ve followed, and incrementally chosen to invest, not so much based on management over the past eight years. It would be totally foolish to think management has shown itself to be an example of a professionally run company worthy of my confidence of it succeeding on it's merits. Management certainly has NOT exhibited a concern for it's shareholders. Rather, I think Medinah will succeed based on the fact it has accumulated a large group of very valuable mining claims (hopefully incredibly valuable) that will provide a sizable return on my investment. I have also invested only what I consider at risk capitol. To invest otherwise would certainly be foolish.

Have I been frustrated and disappointed? I think all shareholders have, especially over the past three years where we appeared to be close to capitalizing a real ROI on our investments, all based on company releases. The term "close" is no longer of much credibility to investors here.

Knowing the potential of the what the ADL and (LDM) contains has kept investors on board, or at least watching, despite history. Once again the company is nearing a crucial point in it’s evolution and relationship with it’s investors. Is it evolving to a point where it will actually reward investors and provide the expected ROI commensurate with the risk taken? Only time will tell if investors will realize the ROI that is expected of a company with the apparent assets in the ground this one has, despite the multitude of mistakes and missteps over the years. It appears we will soon find out, with or without all the daily criticism of a few vocal individuals who express the same views day in and day out. I am not one of them, and have remained "out of the fray" for a while. Bulletin boards provide an outlet for frustrations, and provide entertainment, but little else of value.

Folks need to get out and enjoy life a little more.
I went to a POCO concert last night under the stars. Totally enjoyable!
I have to wonder what all the posters here are doing to enjoy life more ...

Invested in the Mountain...
and That's What Counts!
easy