posted
MDOR - Magnum Recaps Major Events of 2008, Plans for Rapid Growth in 2009, and CEO Interview MONDAY, JANUARY 05, 2009 7:30 AM
FORT LAUDERDALE, Fla., Jan 05, 2009 /PRNewswire-FirstCall via COMTEX/ -- Magnum D'Or Resources, Inc. (MDOR) (Magnum) announces that events occurring during 2008 were nothing less than spectacular, given the current state of the world economy and lays out tentative announcements for 2009.
Today, January 5, 2009, Joseph Glusic, President of MDOR, [u]will be featured on CEO Roadshow at 11 A.M. Eastern Time[/u] to discuss the major milestones achieved during 2008 and Magnum's strategy for the upcoming year. Interested parties can listen to the interview at http://www.ceoroadshow.com
Joseph Glusic, President of MDOR, stated, "Our annual audit is about to be completed and filed; however, since it only represents activity through the end of our fiscal year (9-30-2008) it will not show the results of production that have just recently commenced. The recent ramping up we've done to increase production will not be apparent until the first calendar quarter of 2009. I think this is important for the public and the market to know, but I also believe the market will be surprised with what the company has in store for the 1st qtr of 2009 and beyond."
To recap some of the major benchmarks and milestones achieved by Magnum during the short preceding 12 months, we are happy to report the following events:
-- Magnum acquired over $130 Million in material contracts prior to production commencement. -- Magnum acquired a 100,000 sq ft facility in Magog, Canada to begin production activities. -- Magnum retained the International Law firm "Heenan Blaikie" as its Canadian Council. -- Magnum established the wholly owned subsidiary "Magnum Recycling Canada" for initial North American Operations. -- Magnum purchased, received and installed necessary equipment to begin fulfilling open contracts. -- Magnum raised in excess of $1.4 Million in non-dilutive type financing (promissory notes) including associated warrants at $1.00 to fund operations. When fully executed, the combined debt and warrants will produce in excess of $2,800,000 in proceeds to the Company. -- Magnum engaged and retained internationally renowned PCAOB audit firm Weinberg & Company. -- Magnum Joined forces and entered into a Joint Venture with Sekhar Research Innovations http://srielastomers.com/ obtaining exclusive rights to an array of patents, process technology, and trade secrets to develop state-of-the-art and next generation manufacturing equipment, processes, and cutting edge cost saving custom compounds. -- Magnum retained international accounting firm "Raymond James Grant Thornton" to review its Canadian operational unit. -- Magnum commenced production activities at its Magog, Canada facility. -- Magnum announced that it will be featured in multiple television productions focusing on "Environmentally Friendly Technology" and "Next Generation Advanced Technology". -- Magnum received exposure from high level political visits to its Magog, Canada facility. -- Magnum continues to work with several private, commercial, and governmental agencies to secure expansion funding.
Magnum's 98,000+ sq ft building is located at 2035 Rene-Patenaude Magog (Quebec), J1X 7J2 within the Technology Center of Magog.
Magnum owns the exclusive rights to North America and future Global Rights to an array of next generation cost-saving custom compounds, patents, process technology, and trade secrets of Sekhar Research Innovations http://srielastomers.com/
Safe Harbor Statement under the Private Securities Litigation Reform Act Of 1995
Statements contained in this document that are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. The company is not required to update its forward-looking statements.
Contact: Magnum D'Or Resources, Inc., Fort Lauderdale Joseph Glusic, CEO, 305-420-6563 mdor*magnumresources.net www.magnumresources.net
Today, January 5, 2009, Joseph Glusic, President of MDOR, [u]will be featured on CEO Roadshow at 11 A.M. Eastern Time to discuss the major milestones achieved during 2008 and Magnum's strategy for the upcoming year. Interested parties can listen to the interview at http://www.ceoroadshow.comPosts: 22 | Registered: Nov 2008
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
