mmx is in trouble, page-3

Glyna

You keep asking what has been proved.

My understanding that CHM has shown that:

Its cash was used.

Nicu gained from buying and onselling leases that CHM was buying anyway. The sole purpose of this was to shift value from CHM to NIcu.

Investors issued shares in CHM for no reason and no consideration who sold on market and rolled into Nicu allowing Nicu to get cash for the installments they did make.

You ask what have they proved and I believe they have proved this.

The parties who could refute this have refused to take the stand. Case law now says that judge will accept what CHM have claimed and any afidavit from witnesses who refused to take stand cannot be considered as they refused to be cross examined on evidence.

All of CHM witnesses were prepared to take the stand and the scrutiny of cross examination. Compares this to the 5 from MMX who have opted out.

CHM have laid out before the court a body of evidence that shows that Nicu/Barnes/Grimaldi set out to gain advantage out of CHM for their benefit.

What body of evidence has MMX put before the court that in anyway refutes what CHM claims to have occurred.

All witnesses that were there at the time have declined to take the stand. Except Paul who had memory lapses and Nik Zuks from Winterfall who has stated that he was uncomfortable that CHM cheques were been used to pay installments.

MMX case now I understand is down to trying to argue that the CHM contribution from these dodgy transactions is not a "substantial" interest. Funny eneough the same arguement you posted the other day to get to your 30 million.

To get to your 30 million you have added a value of a royalty. Nicu took over Winterfall with a royalty within it. You cant add this to your numbers as the value paid for Winterfall had this factored in it.

I understand MMX have been trying to run this arguement and got shot down in flames as it is a double dip.

That removes $6 million from you base number.

Then there is the value of the shares issued. Ask you source what value did MMX ascribe to them at the date of the transaction.

Also in coming to your number what about the small issue of "knowledge". Winterfall had knowledge, Grimaldi and therefore Nicu have knowledge. They have profited from illegal tranactions.

Go and research how courts react to this and rewards they are prepared to hand out to the party who has been damaged.

I think the numbers you are throwing about might have been accepted when this all started as CHM would have only scratched the surface on what occurred.

The number will have moved north just a wee touch as they dug up more and more of the dodgy trail.