Rainman,

I got in couple of months ago as I found MAD a good spec, tangentially because of doing due diligence on Agnico Eagle.

You've been here for a much longer period and I shall defer to you. Yes indeed, it's quite unbelievable - unless there is a hidden agenda or purpose to it.

We know the insiders/institutions/management control about 50% of outstanding shares. It behoves me that they would hurt themselves by allowing the watering down of their equity. I bet this proposed stock offering will be taken up by insiders and pro-groups.

Miranda’s registered shareholder list for Miranda’s common shares, dated November 30, 2011, showed 51 registered shareholders and 52,849,452 shares outstanding of which 41 of these registered shareholders were US residents including one that is a depository for US residents, so that US residents own 12,499,788 common shares representing 24% of the issued and outstanding shares of Miranda.

Directors and Senior Management Share Ownership

Name of Beneficial Owner

Kenneth Cunningham Common 2,185,500 3.7%

Steven Ristorcelli Common 747,000 1.3%

Joseph Hebert Common 1,151,000 1.9%

James F. Cragg Common 468,986 0.8%

Doris Meyer Common 695,000 1.2%

G. Ross McDonald Common 464,000 0.8%

Ian Slater Common 405,000 0.7%

Paul van Eeden Common 2,790,000 4.7%

TOTAL Common 8,906,486 15.0

Additionally, Management awarded themselves a boatload of options @ $0.305 in late Sept..2012.

What's up ?!! We should know soon enough.