Well basic duedillegence was not done on my part and I thought I should share something I found which turned me right off this company.
Hanlong, #1 top shareholder of MEY.
The Company (MEY) has Convertible Notes with Hanlong Mining Ltd with maturity date of 14 November 2018. The key terms of the Convertible Notes are a conversion price of $0.58 per share, and an coupon interest rate of 8% per annum. The Company has the right to repay the debt at maturity in shares issued at $0.58 per share or cash.
To summarize the 2016 site link "Last year, the billionaire founder of Hanlong parent "Sichuan Hanlong Group", Liu Han, was executed in China after being found guilty of a suite of crimes including murder, running illegal casinos and selling firearms while he was head of one of the country's largest mafia outfits.
THIS is a great reason not to be associated with the remains of Sichuan Hanlong Group, and being that they are the #1 holder for MEY, I've lost interest.
I'm not saying the entire group is in on this, I just wouldn't want my money tied up with people who have or had links to the mafia.
Good luck to all holders
MEY Price at posting:
7.3¢ Sentiment: None Disclosure: Not Held
