Replies to post #39833 on Magellan Energy, Ltd. (MGLG)

[Tickerflipper10]

MGLG The Eastwind Group, Inc. is a holding company formed to acquire and consolidate middle-market manufacturing businesses on an industry-by-industry basis. The Company focuses on the acquisition of entities that management believes are not performing to potential. Since its inception, the Company has completed six acquisitions, five of which now comprise the Company's three operating business segments. https://www.google.com/finance?q=mglg&ei=FrYwUoi4JMrh0wHNtQE

[space1230]

No no. You are misinformed with the MGLG players and events. Eastwind Group was the former owner of the MGLG shell. They abandoned the MGLG shell and a group of Hijackers came along and reincorporated a bogus company under the same "Eastwind Group" name. It was fraud. Then along came Magellan who purchased a bogus shell from the fictitious Eastwind Group #2 who never existed. As soon as the SEC stepped in and suspended MGLG for hijacking, Magellen abandoned the MGLG defunct shell because they were not the legal owners.

Per the SEC :
"Magellan Energy Ltd. is a Delaware corporation formerly known as The Eastwind Group, Inc., which the hijackers incorporated on November 8, 2005 under the same name as a then-defunct company also incorporated in Delaware. As of September 1, 2009, the company's common stock was quoted on the PinkOTC Markets (symbol "MGLG"), had market makers, and was eligible for the piggyback exemption ofExchange Act Rule 15c2-11(f)(3)."

http://www.sec.gov/litigation/complaints/2009/comp21243.pdf

Final sec litigation occurred for the MGLG shell on 9/27/2013. It's completely over now. There is no Magellan Energy or Eastwind attached to this defunct shell: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=92491897