posted
Name change alert! Doesn't look good.... What do others think? What happened to UDVE dividends???
Posts: 27 | From: Ne | Registered: Jun 2005
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posted
Loose $ 600,00 on this. have now 28 share of MDGM. Feel like i'm F****cK in the A. Think we should have a DD (drop dead)list on this board. First one will be: 1. UDVE . 2. WHLI Still have 14 more reverse split S*ckers in my account. That's why my nick is...... Hope UNQT tells another story.
Posts: 425 | From: NL | Registered: Jun 2005
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posted
Sorry to hear that, I agree, we need a BB list (BAD BOY) this is where people can only bash a drop dead stock
At one point I had 160,000 shares at .0029 but I bailed when it got down to under .0019, I was thinking about getting back in at .0008 glad I didn't!
Posts: 27 | From: Ne | Registered: Jun 2005
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posted
After all it was a good decission driftwood. The divvy announcent was sounding too good. Normally pps should run, but it didn't. I think after latest PR, insiders started heavy selling, and I thought they were going to Australia for better opportunities.
Posts: 425 | From: NL | Registered: Jun 2005
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OnceApenny, Dont feel alone! All I know is Ill be damned if I cash out on this for $20 after comish. And cant do anything besides hold this P.O.S. Either it goes up (yeah right) or I can put this in the same section as GVRP.
-------------------- Never underestimate the power of stupid people in large groups. Posts: 222 | From: Southaven, Ms. | Registered: May 2005
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posted
Does anyone elses portfolios look starnge today? My UDVE dissappeared, and instead of it showing MDGM, it shows UNITED DEVELOPMENT INTL stock symbol: 910189109 . But get this the PPS is showing $2.00. And Its the same exact amount of shares I had before the R/S! God I wish i could sell right now! 370,000.00 !!!!
-------------------- Never underestimate the power of stupid people in large groups. Posts: 222 | From: Southaven, Ms. | Registered: May 2005
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Record mining PR0FITS and industry-wide merger mania positions<P>
UDVE with huge reserves and expanded production to jump 500%.<P>
Our precious metals and mining HOT-PICKS for the last 12 months have gained an average of 476%?e are expecting earth-shattering news that will send shockwaves through our latest pick UDVE.<P>
UDVE controls 3 of the largest gold mining properties in Guyana (South America) including a 25-mile property with proven, verified reserves exceeding 400,000 ounces of gold valued at over $100 MILLI0N<P>
The Company is in a rapidly expanding state of gold production while generating revenue and positive cash flow. UDVE has literally struck gold with major funding news announced last week that provides $13 MILLI0N for the purchase of additional mining equipment enabling accelerated production and record breaking PR0FITS.<P>
UDVE's breakout year is perfectly timed and will not go unnoticed as PriceWaterhouseCoopers' head mining analyst, Paul Murphy, stated just last month; "We seem to be at the start of the first mining boom of the twenty- first century." This statement accompanied a PriceWaterhouse report detailing the record doubling of PR0FITS for mining companies in 2003 with an even brighter outlook for 2004.<P>
Hot gold stocks are no longer taking a back seat while merger and takeover activity is on the rise. Investors have scored major gains on several recent highly-publicized battles for control of well-positioned gold producers with similar structure to UDVE.<P>
REUTERS Newswire reported last quarter that mergers and acquisitions in gold mining companies are being completed at a record frantic pace with the expectation of this trend increasing. Large-cap fund managers and securities analysts agree that the junior mining GR0UP is especially more vulnerable to a b?y-out or takeover scenario in today's healthy mining environment. UDVE is viewed as a serious takeover target based on their $140 MILLI0N revenue forecast, as the price for this undervalued asset play has not even come close to reaching its true potential.<P>
Judging by the numbers, the value of UDVE's proven reserves should push the share price higher with greater upside expected to match their fast-paced growth. UDVE has been heating up the newswire with batches of positive developments regarding production, reserve valuations, and additional property acquisitions. Combine these activities with classic evidence of 60- day accumulation and it's blatantly obvious that huge news is about to be released that will have an explosive impact on shareholder value.
How the the world can change in one year. Even can't find any info about "Mindenao Gold Mining Corp"
Posts: 425 | From: NL | Registered: Jun 2005
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posted
On july 04 I sent this mail to rob doherty [unitedsharecorp@yahoo.com]
Dear Management
As a shareholder of United I'm concerned about the change in company name. What will happen with the early anounced dividend. The transfer happened so suddenly, and there was no anouncement, so shareholders didn't get the time to consider there investment in UDVE. Even I can't find any info about MDGM. For now it's for me a Fake company, but with this mail I hope you can explain what's going to happen in the future.
Today I received this message:
We are still committed to the dividend to shareholders of record as of june 30 05 only it will be deliverd through the private company which the assets were transferred to, when we receive our assets
That's all.
So I think there is still something to happen.
Posts: 425 | From: NL | Registered: Jun 2005
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posted
Mindenao Announces New Management; Issues Statement about United Development International (UDVE)
Business Wire via COMTEX
Jul 20, 2005 8:43:01 PM
BLAINE, Wash., Jul 20, 2005 (BUSINESS WIRE) --
Mindenao Gold Mining Corp. (Pink Sheets:MDGM) acquired the public shell from United Development International and successfully completed a reverse merger. Mindenao is an independent corporation based in Blaine, Wash., with mining operations in Mindanao, Philippines.
Robert Doherty, president of United Development International, is not connected to Mindenao in any form whatsoever. No staff from United Development International was retained.
United Development International now exists as a private entity. Doherty can be contacted via telephone at 250-572-3520. This is the only information that has been made available to the company. All questions concerning United Development International and the dividend should be directed to the number above.
Mindenao operations in the Philippines are managed by Nestor C. Buenaflor. The company fax number is 614-417-8319 and the company's e-mail address is investors@mindeano.net.
About Mindenao Gold Mining Corp.
We can Say Bye bye to our divy and money
Posts: 425 | From: NL | Registered: Jun 2005
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posted
Mindenao Releases Share Structure, Geological Report and Imagery Maps
Business Wire via COMTEX
Jul 21, 2005 7:30:06 AM
BLAINE, Wash., Jul 21, 2005 (BUSINESS WIRE) --
Mindenao Gold Mining Corporation (Pink Sheets:MDGM) share structure is as follows. The company has approximately 20 million shares outstanding. 10 million shares are restricted and about 9.75 million shares are free trading shares. The companies transfer is National Stock Transfer and can be contacted at anytime for the share structure.
Mindenao operates in the Philippines under the company name Siennalyn Gold Mining. The company has rights to mine on more than 4,700 hectares of land, which is equivalent to 11,617 acres, in one of the richest island groups in the Philippines. This island group contains more than 80% of the countries iron reserves and sizeable deposits of the countries gold and other precious metal reserves.
There are more than 54 pages of documentation. The company urges all investors to thoroughly review all information and to contact the company with any questions whatsoever at Investors@Mindenao.net.
A number of world-class MNC's operate in the Philippines. This list includes Lepanto Mining, Indophil Resources, Placer Dome, Philex Gold, Anglo Gold, TVI Pacific, Benguet Corporation and Maricalum Mining Corporation.
Mindenao operations in the Philippines are managed by Mr. Nestor C. Buenaflor. Mr. Nestor Buenaflor can be contacted by calling 63-920-380-8766
About Mindenao Gold Mining Corporation
Mindenao Gold Mining Corp is a professional gold mining company that owns gold mining operations in Mindanao, Philippines, one of the richest areas in the Philippines and in Asia. The company has proven gold reserves, setting itself apart from the majority of other companies. Documentation on the company can be found at http://www.rbic.us/philippines/sgmc/scan/Posts: 425 | From: NL | Registered: Jun 2005
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posted
I do not understand how a publically traded company goes private with all its asssets and sells only the right to trade as a penny stock. I have tried that phone number with no luck. You might want to conntact the SEC at (202-551-6551) or email them.
Posts: 3875 | From: ca. | Registered: Jul 2005
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posted
This taste as a crooked business. If it is so easy to do a R/S in one day and disappear with all the assets, you are a legal bankrobber. Isn't it?
Posts: 425 | From: NL | Registered: Jun 2005
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posted
This event is even unique for a penny stock. Can someone in the Blaine,Wash area get a phone number and address for MDGM.(I love it, invest in my company but I don't want you to have a phone number or address for our United States office). Does anyone know the last address for UDVE.
Posts: 3875 | From: ca. | Registered: Jul 2005
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I just signed up over here after I googled for MDGM, UDVE.
I have 4.5 million UDVE share (well should I say ... had).
Any of you had any further info ? I mailed to Doherty weekly and don't get any replies (only one stating that he'll pay - but not how much). Today I've send a mail to MDGM :
Dear,
I became a shareholder of your company through UDVE. My 4.5 million shares which costed me a lot of money, became a small 451 shares of MDGM. Looking at the way things went, looking at the PPS : I didn't ask for this and I feel to be the victim of a scam.
Some facts :
UDVE pumped with numerous PR's their stock (cash dividend of $ 0.00575/ UDVE share - 100 million retiring of stock).
Without prior notice you reversed merged into UDVE. The assets of UDVE went to a so called private entity.
Mr. Doherty resigned out of UDVE, but is still the contactperson. Numerous mails and calls to Mr. Doherty, are unanswered.
Your company states to have nothing to do with UDVE.
Dilution of stock by you (you started with an O/S of 20 million and now, within short notice, you already made public statements that the O/S was raised to 44 million)
I hope you understand that I question the so-called 'we have nothing to do with UDVE'-statement and that I would like to receive some answers from you.
1. Why did you just not IPO ? You claim to have the goods (ref your several PR's). Why then reverse merge into a pinksheet stock like UDVE ? I claim to own about 1 to 1.5 % of UDVE with my 4.5 million shares. It seems that I have no rights to it. UDVE took his assets private leaving me standing in the cold (this is called theft). I question the action that was taken by UDVE, and I question the fact that I became a shareholder of your firm. Taking part in this operations, you must have known that there are legal risks involved. Why would you take those risks knowing that you just could have IPO'd under a new, not polluted symbol ? Pls. explain, because I do not understand this ?
2. You claim to have bought the shell of UDVE ? How much did you pay for this to UDVE or any other person ? Was this in cash and/or stock and/or claims ?
3. You gave mail address and telephone number of Mr. Doherty. As he seems to be totally uninterested in what his shareholders ask him : do you have any other addresses, e-mail addresses, persons that can be contacted ?
4. What was the O/S of UDVE when you took over ? You claim to give full transparency (ref your PR's). This must not, together with my other questions, be so difficult to answer to one of your stockholders.
5. Why are you 'expanding' your O/S so drastically ?
6. Doherty claimed some weeks ago in one mail of mine that was answered, that we were going to be paid. Any news on that ? You must receive enough complaints from shareholders like me not to be in contact with Mr. Doherty.
I hope to receive answers from you asap.
Kind regards,
DD
If I get a reply, I'll post it.
Posts: 749 | Registered: Aug 2005
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posted
I'm posting as well my one way communication with Doherty (July - August):
Dear,
Any news ?
DD
DD wrote:
> Mr. Doherty, > > Any comments ? > > DD > > DD wrote: > >> Dear, >> >> Still no answer + in the mean time I've seen that you've given us a stock that went to ... 0.055. >> >> Mr. Doherty, I seriously start doubting the integrety of MDGM, UDVE and you. >> >> DD >> >> DD wrote: >> >>> Dear, >>> >>> Thanks for answering me back a while ago. After reading the PR's of Mindenao Gold Mining however I'm confused. >>> >>> I get their stock (450 shares), but had no intention to invest in them. Your entitiy (wrongly referred to still as United Development International in the PR of the 20th of July) will still handle questions on the dividend. The questions asked get a very short answer. What is going on ? I would only like to get clarification on the following : >>> >>> Could you pls. confirm to me that in the near future (read : within a reasonable time) I will get $ 25 875 as a cash dividend paid to me via my broker coming from your entitiy (4.5 million UDVE shares * $ 0.00575) ? That is what was promised in your PR's. >>> >>> Kind regards, >>> >>> >>> DD>>> >>> >>> rob doherty wrote: >>> >>>> We are committed to delivering dividend to united shareholders of record as of June 30 05. Date of delivery is still undetermined >>>> >>>> *DD wrote: >>>> >>>> Dear, >>>> >>>> 3rd time. Anybody out there ? >>>> >>>> Regards, >>>> >>>> DD >>>> >>>> DD wrote: >>>> >>>> > Dear, >>>> > >>>> > I've send you the mail below last week. I have not received an >>>> answer >>>> > yet. >>>> > >>>> > I've seen the MDGM shares in my account. Still, I'm worried >>>> about past >>>> > promises that were made to investors in regards to the cashdivy of >>>> > $0.00575/UDVE share. I hope you understand that I would like >>>> clarity >>>> > on this asap. >>>> > >>>> > >>>> > I have as an extra following questions on top of the ones mentioned >>>> > below : >>>> > >>>> > * Does the following quote out of the PR last week refer to the $ >>>> > 0.00575 divy and will you pay this and (if yes) by when ? 'Also, >>>> any >>>> > future payouts announced previously in United will be the >>>> > responsibility of United Shareholders Holding Corp."- >>>> > >>>> > * Why did these actions take place (Mr. Doherty leaving/ Reverse >>>> split >>>> > to MDGM/ etc.) ? >>>> > >>>> > * The O/S published on the pink sheets was it correct >>>> (448,195,430 as >>>> > of 2005-06-08 Estimated Market Cap: 179,278 as of 2005-06-28 >>>> (based on >>>> > Outstanding Shares as of 2005-06-08) ? >>>> > >>>> > * What is the O/S of MDGM ? What percentage has your holding in it ? >>>> > >>>> > * Is there an IR person for your organization and/or for MDGM ? >>>> > >>>> > >>>> > I hope you can answer me asap. The lack of further information >>>> is at >>>> > this moment not appreciated by me, nor by any other investor in >>>> your >>>> > company. I would be grateful that you communicate on this and that >>>> > past errors in PR's under the UDVE-flag would not be repeated (I'm >>>> > referring to the statements made on assets). >>>> > >>>> > To be open towards you : I have posted last weeks mail on several >>>> > message boards and will do so with this one and your answer(s) >>>> as well. >>>> > >>>> > >>>> > Kind regards, >>>> > >>>> > >>>> > DD >>>> > >>>> > >>>> > >>>> > DD wrote: >>>> > >>>> >> Dear, >>>> >> >>>> >> I have currently 4.5 million shares of UDVE. I saw the sudden >>>> >> communication yesterday. Could you assist me in the following >>>> >> questions : >>>> >> >>>> >> 1. Will UDVE still be tradable ? If so, till when ? >>>> >> >>>> >> 2. When will the $0.00575 dividend be paid ? >>>> >> >>>> >> 3. How many shares of MDGM will we obtain ? >>>> >> >>>> >> Could you reply to both e-mail address stated, pls. ? >>>> >> >>>> >> Thanks in advance, >>>> >> >>>> >> >>>> >> Kind regards, >>>> >> >>>> >> >>>> >> DD >>>> >> >>>> >> >>>> >> >>>> >> >>>> > >>>> > >>>> > >>>> >>>>
Posts: 749 | Registered: Aug 2005
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posted
read your thread, but am still unclear on something that relates to one a group of us have problems with: after the r/s, was the price of this stock adjusted in proportion to the r/s ratio?
There was a r/s of 10000. UDVE traded at 0.0002 when the r/s was performed. This ment that the value of one MDGM share was $2 when trading started. If you look at the chart you'll see that it immediately entered at $1.5 dollar.
So answer to your question : no.
2nd remark : MDGM has got nothing to do with UDVE (well they claim). So, assets are ... gone.
3rd remark : the O/S I calculated based on the divy pay-out was approx. 320 million. MDGM entered with 20 million O/S the market, which means that if the R/S was done properly that there was an O/S of 20 billion (while the firm (UDVE) stated itself in May that the O/S was +/- 420 / 440 million).
Posts: 749 | Registered: Aug 2005
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posted
Hopefully there are more of us sending inquires to the Sec. The more people involved the better our chances.I'm wondering because of the way this transaction evolved that maybe we should be contacting state and federal agencies including the IRS.
Posts: 3875 | From: ca. | Registered: Jul 2005
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posted
Those of us fighting the gvrp/mamg scam write/call to everybody we can think of (SEC/NAD, Senate/House banking/finance commitees, state agencies, etc; make formal complaints, succinct as possible, citing pertinent regulations when available. The more traders who do this on all isssues, the better, imho...
posted
Sorry BuyTex I didn't reply to your questions. I have not checked into this information myself, but I did check on the area code number 250 given for the president of UDVE which is Kamloops,British Colombia. The location of the offices of MDGM is Blaine,Wash. just on the other side of the border(quite a coincidence).There is a listing for the name listed as the president of UDVE in Kamloops,BC. but I have not called to see if it might be the same person. Hopefully some investor in the Blaine,Wash area will stop by MDGM and get there phonenumber to add to information when we file complaints.
Posts: 3875 | From: ca. | Registered: Jul 2005
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It showed $2 when it started, but never got sold. Dropped immediately to ... 1.5 and is now ... 0.055.
If you have reference to official authorities to whom I can file a complaint, I would be gratefull if you could point me in the right direction. Being European and living in Belgium makes it not so easy to understand to whom to turn too.
In regards to the O/S : didn't talk to the TA, but did some work by myself. This is copied out of my complaint letter to the SEC and was based on some PR's in May, June 2005 (remark : UDVE made official statements that they would payout the full $2.1 million to their shareholders).
***************
Based on the $ 2.1 million that were going to be distributed (first PR) the O/S should have been : 2100000/0.005 = 420 million.
After retiring 100 million shares the PPS was 320 million. The dividend should have gone up to $ 0.00656 (2.1 million / 320000000). Instead it went ‘only’ to 0.00575 (which would indicate an O/S of 365 million shares). This was the second strange element in regards to this stock that struck me. ****************
The O/S published on the pink sheets was 448,195,430 as of 2005-06-08 (but out of experience I know this one sometimes to be incorrect).
Posts: 749 | Registered: Aug 2005
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posted
DD, I am an UDVE shareholder and the only one reply that I have received from Doherty is dated July 11. "Date of delivery is still undetermined", when have you received this one?
I am confident again because I think RD is coming back on the market and he needs a good reputation IMO.
Do you have more info on RD ? Coming back as ... ?
By the way, I don't share your confidence + even if we get the divy, we were pushed out a company like that.
Only positive point so far is that noone can call me a basher (UDVE no longer trades LOL).
FYI found this last week. Article dates from the beginning this year and shows RD's reputation is already gone down the drain.
UDI Resources Admits “No Gold Discovery”
By Tim Wood 26 Jan 2005 at 10:00 AM EST
NEW YORK (ResourceInvestor.com) -- We put UDI Resources [UDVE] through the grinder last week for its amateurish rope-a-dope. To be sure, not everyone was happy about it. Well, too bad because the press release that put us on the trail was indeed a lot of bunkum.
There was no “discovery” and there was no 5 ounce per ton gold intersection at the company’s joint venture English Bay property.
Company president Robert Doherty was fuming when he finally returned our messages the day after the story ran. His complaints about being “*******ized” by Resource Investor found no sympathy though given that he could not answer basic questions that he knew we had already asked.
He said he hadn’t seen the drill data recently so he wasn’t sure of the specifics. So how do you put out a press release with facts you can’t confirm immediately? He could not answer satisfactorily but eventually fell back on being extremely busy closing a number of transactions.
We offered Doherty unlimited space and time to defend himself and his company, but the offer has not been taken up. The invitation stands in perpetuity to any director of UDI Resources – you are welcome to substantiate the many claims in your press releases.
Anyway, Doherty faxed us the drill results, such as they are. He also phoned in a mea culpa that the press release was wrong by a factor of ten - it wasn’t a 5opt intercept, but a 0.5opt intercept.
The rest of the results are nothing that would excite the market. In fact they rain humiliation down on UDI’s revenue extrapolation which was intended to infer that the 5opt number represented sufficient continuity so that thousands of tons might be mined for staggering profits.
We passed the results on to independent investment geologist Brent Cook for an expert opinion. He responded: “Reviewing the English Bay “data” here’s my guess. 3 holes in 97, 1 hit. 13 holes in 99 #16 his anomalous values; most likely very tight “twin” to first hit. 10 holes in 2000 w/ one hit of 0.1oz/4’ again most likely aiming at the same pod as previous hits. 8 holes in 2001 again one hit of 0.5oz/4’ and my bet same pod. There are no drill hole locations but given 3 hits out of 34 holes and the stated lack of continuity …well you got the picture. Further, this geologic setting is not conductive to large deposits but small shears associated with minor tensional zones.”
UDI has not issued a retraction of that press release since confirming to Resource Investor that the data was wrong.
When we asked Doherty if he was concerned about attracting regulatory trouble, he immediately shot back that he was covered by disclaimers as well as the loose rules governing pink sheet companies. Not likely. The Securities & Exchange Commission doesn’t allow “truth exemptions” for things like drill results.
This is not the first pink sheet mining play that we’ve caught gilding the lilly and it won’t be the last.
BuyTex,
thx for the info, will look into this.
Posts: 749 | Registered: Aug 2005
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posted
I think that there is a reason if RD constitutes United Shareholder Holdings Corp. and is still promising the divy, on the contrary he should have can do like AFRD/GBMS and many others r/s without declaring and promising nothing IMO.
Somebody knows if the SEC is investigating this case?
UBBFriend: Email this page to someone!
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