David,
You've been around these parts awhile, so I will address this request to you; however, should anyone else have information pertaining to this subject, please jump right in?
I seem to remember that npec had a one year waiting period before they could exercise their option to convert their 4,000,000 plus preferred shares to common shares at a 4 X 1 ratio. A stipulation to this exercise was that Medinah Energy must be over 1.00, sometime after the one year waiting period before this could be put into effect.
Now, I'm hearing from some here among us that this must take place before the one year period expires, or we lose, the stock is in the "crapper," etc., etc. Seems like if that were true, I would have remembered this.
For crying out loud; Medinah Energy is now Medinah Mining, and Medinah Gold (which, at this point in time, has no value). I do not see how anyone could interpret that this arrangement between npec and the former Medinah Energy must occur within a year.
Anyone want to offer their two cents worth to clear this up?
Stan |
