They can buy the $19,317 in assets and the $142,775 in notes that convert into 1.402 Billion shares of Common Stock. The issuer has an NOL of $30 million, I can see the 1.402 Billion share pump and dump next year. There will be news of an NOL merging with a profitable company now. Then expect 1.402 Billion shares to find its way hitting bids all the way down to no bid.
This Company is practically a shell, no assets, no A/R. It is dormant, doing nothing. Has nothing.
Curious if Nick will pay his taxes on the shares he gave himself. It is income, as he stated himself "services rendered", it is taxable as income in FY 2013. The only way it is not taxable is if there is a true risk of forfeiture, however, when he noted "rendered" and not "too be rendered with milestones" he screwed the pooch.
In late April we can print this report and send it to the IRS. See if MDIN filed a 1096 and he paid the income on it.
IRS likes to get their cut.
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