Medinah Mining Inc. (MDHM) Message Board

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Gold/Mining/Energy : Medinah Mining Inc. (MDHM)

MDMN 0.000001000

-99.0%

Jun 3 1:07 PM EST

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To: Coz who wrote (14827)	6/2/1999 7:54:00 PM
From: Richard S. Gates	Read Replies (2) of 25548

Coz: I received my Medinah GOLD shares at First Albany Corp. today. However, they are listed as restricted, with no value stated. My question to you is (since my broker couldn't answer me), what happens when the shares are listed in an IRA account or 401-K or a SEPP? If this is only an accounting as I've been told that it is, if the TA sends the actual shares to me personally after they have been listed in my IRA accounts, is there a penalty and taxation at some point in time, or what? Presumably, at some point in time the company will go public and the shares will have a value. At that time could the IRS look at this as a distribution from the IRA, and tax me and penalize me at the same time for something I have no control over? According to Russell, the company intends to send all certificates ultimately to the owner and circumvent the brokerage accounts completely. Please respond The Gipper

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