Here is a timeline of sorts, of all the recent events...
May 18-21: Stock price reaches all time high on Exxon News
May 29 : Original SOR date for dividend, which after the bell is changed to a split of 1:2
June 1-5 : Fisher and TA start giving conflicting stories re: share count, warrant conversion, and dividend/split info...astute investors start intense questioning of Fisher. Other officers at Midland were contacted re: discrepancies
June 5 : Fisher resigns
June 8 : News of Fisher's resignation hits wires,
June 9 : Pierce requests Stop Transfer Orders, and Spriggs is CEO. Shareholders are told that DF144 is clear and fine, and its business as usual. Fisher won't come home
June 16 : Spriggs resigns, Clark resigns, Arcon merger is rescinded, DF-144 is gone, stock tanks in price, legal action started in the US and the Bahamas against Fisher, patent rights to df-144 under severe question
Fisher won't come home.
June 23 : Fisher, who claims to be on "vacation" in the Bahamas, makes a press release charging that the rescinsion was illegal, that he is still CEO, and that a board meeting was held and a special shareholders meeting would be called. Fisher makes no denial of charges against him. (Note: No proxy requests or shareholders meeting announcement has been made) Fisher still won't return to USA.
June 29 : A liquidating trust has been established with the beneficiary named as the shareholders of Midland. The name of the broker who processed the transaction(s) in question is named. Legal action in the Bahamas continues. The 8-K was also filed with seven counts of fraud against Dan Fisher and affiliates.
Now, considering that today is the 3rd day of July, it has only been a couple of days since we were last updated, and suddenly, the infamous Pickens is here.
I know there are a lot of people who think that Pierce is probably just as shady as every other character is this melodrama, but it seems to me that he has been pretty busy for the past month. Considering the pace most of the attorneys I know operate, he has been quite productive for the shareholders so far.
I know it seems like a lifetime has passed since we were at the all time high, but it really hasn't been that long.
:-)
Binder |
