Today's featured company is Medoro Resources (MRS.v), as we again try to scrape away the surface gloss and doublespeak to get at what's really being said in the company NR this morning.
This is what they wrote:
And this is what it means:TORONTO, ONTARIO--(Marketwire - Oct. 8, 2010) - Medoro Resources Ltd. (TSX VENTURE:MRSNews) announced today that it has retained the services of The Capital Lab Inc. to provide investor relations services, subject to regulatory approval. Capital Lab will develop and implement Medoro's investor communications and marketing program in support of the Company's growth strategy.The investor relations agreement dated October 6, 2010, is effective as of September 15, 2010, and terminates on September 1, 2011. The agreement may be terminated by Medoro of Capital Lab upon 30 days' written notice. Under the terms of the agreement, Capital Lab will be paid a monthly fee of $10,000 (plus applicable taxes) for its investor relations services, plus an additional fee relating to the preparation of Medoro's annual report. Medoro will reimburse Capital Lab for expenses incurred in connection with its investor relations services. Capital Lab is also eligible to participate in Medoro's stock option plan.Capital Lab is a Toronto-based company that provides strategic investor relations and business development solutions for international publicly listed companies in various industry sectors. It focuses on advising global companies during transition periods, as a part of their team, to provide immediate and full support throughout their growth and evolution.Neither Capital Lab or its Principal, Belinda Labatte, has any interest, directly or indirectly, in Medoro or its securities, or any rights or intent to acquire such an interest.Medoro also announced the resignation of Linda Dorrington as Director, Investor Relations of Medoro, effective as of September 30, 2010. The Company would like to thank Ms. Dorrington for her contributions to Medoro.
TORONTO, ONTARIO--(Marketwire - Oct. 8, 2010) - Medoro Resources Ltd. (TSX VENTURE:MRS - News) announced today that it has retained the services of The Capital Lab Inc. to provide investor relations services, subject to regulatory approval. Capital Lab will try and spin this underperforming dog in a way that will attract new suckers, keeps their attention away from the serious problems the company has with locals in Colombia and gets ten grand a month plus a seat on the options gravytrain in return for its marketing voodoo.
Medoro also announced the resignation of Linda Dorrington as Director, Investor Relations of Medoro, effective as of September 30, 2010 because....well, just look at the stock price performance and work it out for yourself.