RESPONSE TO SHAREHOLDERS
Q&A WEBSITE
October 19, 2007
We continue this week with answering the most commonly
asked questions, in no particular order.
Q) “When will the next Medinah AGM be held and where?”
A) The next AGM will be held in Las Vegas, as usual. Medinah
is incorporated in the State of Nevada. The meeting schedule
will be determined in November and notices posted on the
company’s website with advance notification prior
to official mailings to all registered shareholders.
Q) “In the last Q and A, you stated the OS as being
over 512,000,000 shares. This is more than I thought. Can
we be reasonably assured that there will be no further
dilution?“
A) The company’s policy is to restrict shares issued
to those absolutely necessary to maintain the company’s
contracts and operations on a very constrained basis.
Q) “In the Shareholder Update from September 28,
it was stated that: "Company Management is actively
conferring with tax experts to base the most plausible
strategy going forward. ... This is the final step forward
toward the completion of a Business Agreement for the Alto
de Lipangue project." However, on October 12 on the
Medinah website Q & A it was stated: "The taxation
implications have been satisfactorily resolved ... Negotiation
with the parties and their Aborgatos will continue in earnest
next week." This is confusing. If the taxation issue
was supposed to be the "final step toward completion," and
the taxation issue has now been "satisfactorily resolved," why
is negotiation continuing? Did something else come up after
September 28 that still needs to be resoved? Are you still
expecting Plan A to be completed this month, as stated
in another Q & A? By the way, despite the aforementioned
confusion, I would like to commend you for the frequency
and quality of your recent shareholder communications.
Thank you.”
A) The restructuring of the corporate affairs regarding
the taxation issues has resulted in a substantial savings
to Medinah in both the short term and long term and we
appreciate the professional manner in which the tax experts
accomplished it, albeit expensive and time consuming.
As stated, we are now proceeding with the potential Joint
Venture partners and their “Abogados” to structure
the agreements to comply with the revised taxation requirements.