MMDI: .13x.135, Shell company, may announce deal soon.
MRI Medical (MMDI) is a shell company with 8.6mil shares O/S, fully SEC compliant.
ALERT
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MRI Medical's parent company (TNVA) has announced a conference call tomorrow. I HAVE NO IDEA IF THEY ARE GOING TO ANNOUNCE A SHELL DEAL OR NOT, BUT IT IS POSSIBLE.
As of January 19, 2000, 8,600,657 shares of common stock were effectively outstanding.
DD ON MMDI
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MRI Medical is a shell company. The company just became SEC compliant recently by filing 4 SEC reports. The parent company is TNAV (www.tri-national.com).
MRI Medical has an agreement with Intermountain Capital Corporation to represent them as follows:
To market, locate and acquire, on terms acceptable to Client, a privately held emerging growth company which desires to become a publicly held company for merger or reverse acquisition into MRI, in order to increase shareholder value in MRI ("Transaction").
PHONE NUMBER
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Company (619) 718-6370
PR: Lisa Lindberg/Dian Griesel, Ph.D., 212/736-2650
SEC FILINGS
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freeedgar.com
OTCBB
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2/9/00
*Refer to D/L of 2/04/2000 and 2/08/2000: FVSN; FABV; MNIA; MZEI; MMMR; CULE; and MMDI are compliant with NASD Rule 6530 and will not be deleted from the OTCBB eff 2/10/2000. Sym chgs will occur as noted above.
From Tri-National Development Corp. SEC filings
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NOTE 6. Investment in MRI Medical Diagnostics, Inc., a Colorado corporation In 1992 the Company sold its wholly owned subsidiary, MRI Medical Diagnostics Inc., a California corporation to Petro-Global, Inc., a Colorado publicly traded corporation. In return the Company received 6,000,000 restricted common shares of the purchaser, Petro-Global, Inc., plus certain mineral properties and leases. In 1992, the mineral properties were written down to a nil value in the records and the name was changed from Petro-Global, Inc. to MRI Medical Diagnostics, Inc.(MRI-Med). MRI-Med filed for Chapter 11 bankruptcy protection in July 1993 in conjunction with the Chino Valley Bank action (see Note 2). After dividends in kind totaling 2,000,000 shares in 1992 and 1993 to TND shareholders, and due to uncertainty in the underlying value of the remaining 4,000,000 MRI-Med shares held by the Company, the carrying cost of these shares was written-off in 1994. Tri-National Development Corp. filed a reorganization plan on behalf of MRI-Med in August 1995 and, in settlement of the litigation described in Note (2), the Company received 5,900,000 shares of MRI-Med at a deemed value of $0.50 per share, ordered by the U.S. Federal Bankruptcy Court, plus 1,400,000 shares for reimbursement of current expenses. In July of 1997, MRI- 33 Med recapitalized on a 1 for 5 basis. The investment is recorded in the books at a cost of $496,994. The Company declared and paid a stock dividend of 750,000 shares of MRI-Med to TND shareholders of record August 31, 1997 and declared a second stock dividend of an additional 750,000 to TND shareholders of record January 27, 1998. After the stock dividends paid to TND shareholders in 1992, 1993, 1997 and 1998, and shares sold to finance the reorganization the Company retains approximately 415,000 post- split shares of MRI-Med. MRI-Med is currently traded on the Over the Counter Bulletin Board under the symbol "MMDI" and trades in the $.05 to $.10 range.
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