The latest official announcement by the company was made at the end of January this year, and the following filed financial reports show that Midex Gold is a company that has only a website with interesting pictures, but no assets, cash or any kind of operations. It looks like it was solely the registration with the SEC that added some credibility.
Though, in the middle of August this year, that only advantage also disappeared. The latest filing of Midex Gold announced the termination of the company’s registration with the SEC and respectively the suspension of the duty to file reports. Not that Midex reports have been that precious and informative.
The last one is published on the OTC Markets homepage in the middle of last months and said that the only thing that changed in the nine months ended this June was that the total liabilities of the company doubled and that $9,700 more were spent for unknown general and administrative purposes, maybe the support of the website. Further, as a subsequent event the company has received from an unknown contributor another $40,000 to spend, provided as an unsecured non-interest bearing and due on demand loan.
On Friday the share price of MXGD lost again 82% of its value and closed at $0.0018 on a trading volume of 119 million shares. Maybe the new funds will be enough for a decent stock promotion. Last September and October for example, some stock promoters got only $17,000 to hype the share price of the stock, which was kept above $1 for quite a long time.
