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Microcap & Penny Stocks : MIDL .... A Real Sleeper -- Ignore unavailable to you. Want to Upgrade?

To: Ga Bard who wrote (2058)	7/8/1998 2:02:00 AM
From: Binder	Read Replies (1) \| Respond to of 7039

I suppose the big question in a lot of people's minds is, Is Midland the villian, or a victim? In my opinion, Midland is a victim, but a victim of multiple fates. Midland is a victim of Dan Fisher & Co. , but Midland "the Company" is also somewhat a victim of its own actions. I have been thinking heavily about all of this, as I am sure we all have, and have been racking my brain to try to figure out who could have done what differently so that none of this would have happened. Specifically, who did what, and what was legal and what was illegal. They always say that hindsight is always 20/20,but I think it is wiser to learn from past misfortunes. So, here is what I think the everybody could have done differently: 1) Midland could have delayed Fisher's access to either his shares until such time a shareholders meeting was held, and proper SEC paperwork and audited assets were produced, and approved by shareholders. Maybe with the next acquisition, the company should make it standard policy to have these things up front before allowing new management to come in and assume daily operations and PR. It is important to note that in my opinion, while this could be considered bad judgement, it does not construe a criminal act nor any reason for legal liability on behalf of the company 2) What I could have done differently: Well, I had just shy of a 10 bagger on the P, a 5 bagger on the Common, and a quad on the W. The biggest lesson I can take from this is one I knew all along. SELL THAT SUCKER when you get to that kind of level. At the very least, stick to the BTS system, which in this case, I didn't. (<thud> Doh!) The next biggest lesson is that when something doesn't make sense, don't give up your questioning until it does make sense. We were just lucky this time that Gary and others caught the discrepancies, and wouldn't give up. Next time I may not be so lucky, so I should be prepared to do it myself. 3. What could we, as a thread, have done differently? Not a dang thing. This has been quite a learning experience, and you guys have been a hoot. Kind of like a 9 month condensed degree in OTC stocks, but for a full 4 years of college tuition. So, to answer my own question, if Midland is "guilty" of anything, it may be poor judgement in allowing Fisher access and authority to make news releases before the reverse merger was complete. (Leaving the door to the henhouse open, not knowing one of the hens was really the fox in disguise.) In today's society, it is poor judgement to do something illegal, but it is not illegal to use poor judgement. Oh well, rambling again, sorry. Just my opinion. :-) Binder