Magnum D'Or Resources Inc. » Investors

SCHEDULE 14C (RULE 14c-101) INFORMATION STATEMENT

Magnum — Tue, 16 Mar 2010 19:00:17 +0000

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14C

(RULE 14c-101)

INFORMATION REQUIRED IN INFORMATION STATEMENT

Information Statement Pursuant to Section 14(c) of the Securities Exchange Act of 1934

Check the appropriate box:

o	Preliminary Information Statement	o	Confidential, For Use of the Commission only
x	Definitive Information Statement		(as permitted by Rule 14c-5(d)(2))

MAGNUM d’OR RESOURCES, INC.

(Name of Registrant as Specified in Its Charter)

Payment of Filing Fee (Check the appropriate box):

x	No Fee Required

o	Fee computed on table below per Exchange Act Rules 14c-5(g) and 0-11.

(1)	Title of each class of securities to which transaction applies:

(2)	Aggregate number of securities to which transaction applies:

(3)	Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):

(4)	Proposed maximum aggregate value of transaction:

(5)	Total fee paid:

o	Fee paid previously with preliminary materials:

o	Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the form or schedule and the date of its filing.

(1)	Amount previously paid:

(2)	Form, Schedule or Registration Statement No.:

(3)	Filing party:

(4)	Date filed:

-1-

MAGNUM d’OR RESOOURCES, INC.

INFORMATION STATEMENT

To the Holders of Our Voting Stock:

The purpose of this Information Statement is to notify you that the holders of shares representing a majority of the voting power of Magnum d’Or Resources, Inc., a Nevada corporation (the “ Company ”) have given their written consent to elect the following persons as directors of the Company, to serve for the term for which he is elected and qualified or until his earlier resignation, removal from office or death:

Mr. Joseph Badal

Mr. Joseph Glusic

Mr. Richard Magid

Mr. Dato Frank Steinleitner

Mr. Leonard Weinstein

Pursuant to the provisions of Section 78.320 of the Nevada Revised Statutes and the Company’s Bylaws, the election of the directors identified above was approved by written consent of the holders of a majority of the total number of voting shares of the Company’s capital stock. Accordingly, the election of the directors to our Board of Directors is not being submitted to our other stockholders for a vote. The election of the directors to our Board of Directors will become effective twenty days after the mailing of this Information Statement.

This is not a notice of a meeting of stockholders and no stockholders’ meeting will be held to consider the matters described herein. This Information Statement is being furnished to you solely for the purpose of informing stockholders of the matters described herein pursuant to Section 14(c) of the Exchange Act and the regulations promulgated thereunder, including Regulation 14C. This Information Statement is being first mailed on or about March 16, 2010 to our stockholders of record as of March 11, 2010 (the “ Record Date ”).

The complete mailing address of the Company’s principal executive office is Magnum D’Or Resources, Inc., 2850 W. Horizon Ridge Pkwy, Ste 200, Henderson, NV 89052, and the Company’s phone number is (877) 343-MDOR (6367). .

WE ARE NOT ASKING YOU FOR A PROXY

AND YOU ARE REQUESTED NOT TO SEND US A PROXY

THIS NOTICE IS FOR INFORMATION PURPOSES ONLY.

By Order of the Board of Directors,

/s/ Joseph J. Glusic

Joseph J. Glusic

President, Chief Executive Officer, Chief Financial

Officer, Secretary and Sole Director

Magnum d’Or Resources, Inc.

2850 W. Horizon Ridge Pkwy, Ste 200

Henderson, NV 89052

(877) 343-MDOR (6367)

Important Notice Regarding the Availability of Proxy Materials:

The Information Statement is available over the Internet at www.magnumresources.net.

-2-

GENERAL INFORMATION

This Information Statement is being first mailed on or about March 16, 2010 to our stockholders of record as of March 11, 2010 (the “ Record Date ”) by our Board of Directors to provide material information regarding corporate actions that have been approved by the Written Consent of the Majority Stockholders.

PLEASE NOTE THAT THIS IS NOT A REQUEST FOR YOUR VOTE OR A PROXY STATEMENT, BUT RATHER AN INFORMATION STATEMENT DESIGNED TO INFORM YOU OF THE ELECTION OF MEMBERS TO OUR BOARD OF DIRECTORS.

We will pay all costs associated with the distribution of this Information Statement, including the costs of printing and mailing. We will request brokerage houses, nominees, custodians, fiduciaries and other like parties to forward this Information Statement to the beneficial owners of the Common Stock held of record by them. In addition, we will only deliver one Information Statement to multiple security holders sharing an address, unless we have received contrary instructions from one or more of the security holders. Also, we will promptly deliver a separate copy of this Information Statement and future stockholder communication documents to any security holder at a shared address to which a single copy of this Information Statement was delivered, or deliver a single copy of this Information Statement and future stockholder communication documents to any security holder or holders sharing an address to which multiple copies are now delivered, upon written request to us at our address noted herein. Security holders may also address future requests regarding delivery of Information Statements by contacting us at the address noted herein. Our address and phone number for purposes of such notices is: Magnum D’Or Resources, Inc., 2850 W. Horizon Ridge Pkwy, Ste 200, Henderson, NV 89052, and the Company’s phone number is (877) 343-MDOR (6367).

AUTHORIZATION BY THE BOARD OF DIRECTORS

AND THE MAJORITY STOCKHOLDERS

Under Section 78.320 of the Nevada Revised Statutes and our Bylaws, any action that can be taken at an annual or special meeting of stockholders may be taken without a meeting, without prior notice and without a vote, if the holders of outstanding stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted to consent to such action in writing. The election of directors requires the affirmative vote or written consent of a majority of the issued and outstanding shares of Common Stock. Each stockholder is entitled to one vote per share of Common Stock on any matter which may properly come before the stockholders.

On the Record Date, there were 72,626,212 shares of Common Stock issued and outstanding with the holders thereof being entitled to cast one vote per share. In addition, on the Record Date there were 30,000,000 shares of Series B Preferred Stock outstanding. Each share of Series B Preferred Stock is convertible into one fully paid and non-assessable share of Common Stock, and each holder of Series B Preferred Stock has the right to one vote for each share of Common Stock into which such share of Series B Preferred Stock can be converted. There are also 10,000,000 shares of Series A Preferred Stock outstanding, and each share of Series A Preferred Stock entitles its holder to vote the equivalent of twenty shares of Common Stock.

Effective March 13, 2010, Joseph J. Glusic, our sole director, adopted written consent resolutions recommending that shareholders appoint five directors to serve as members of our Board of Directors. In connection with the adoption of this resolution, our Board of Directors elected to seek the written consent of the holders of a majority of our outstanding shares in order to reduce associated costs and implement the election of the directors in a timely manner.

CONSENTING STOCKHOLDERS

On March 13, 2010, the following stockholders consented in writing to the election of five directors to our Board of Directors:

-3-

Name of Stockholder	Shares of Voting Common Stock, Voting Series B Preferred Stock and Voting Series A Preferred Stock	Percent of Voting Capital Stock (3)

Chad A. Curtis	257,207,792 (1)	85%

Joseph J. Glusic	8,805,601 (2)	2.9%
TOTAL	266,013,393	87.9%

(1)

Represents 32,207,792 shares of voting Common Stock, 25,000,000 shares of Series B Preferred Stock, each of which has the right to one vote for each share of Common Stock into which a share of Series B Preferred Stock can be converted, and 10,000,000 shares of Series A Preferred Stock, each share of which is entitled to the equivalent of twenty voting shares of Common Stock.

(2)	Represents 3,805,601 shares of voting Common Stock, and 5,000,000 shares of voting Series B Preferred Stock.

(3)

Calculated on the basis of 302,626,312 issued and outstanding shares of voting capital stock, representing the aggregate of 72,626,212 shares of issued and outstanding voting Common Stock, 30,000,000 shares of issued and outstanding voting Series B Preferred Stock, and 200,000,000 voting shares of Common Stock that the holder of the 10,000,000 shares of Series A Preferred Stock is entitled to vote.

Accordingly, based on action taken by our Board of Directors and the foregoing vote of our Majority Stockholders, we have obtained all necessary corporate approvals in connection with the election of the five directors to our Board of Directors. We are not seeking written consent from any other stockholders, and our other stockholders will not be given an opportunity to vote with respect to the actions described in this Information Statement. All necessary corporate approvals have been obtained. This Information Statement is furnished solely for the purposes of advising our stockholders of the action taken by Written Consent and giving stockholders notice of such actions taken as required by the Exchange Act.

The election of the five directors to our Board of Directors will become effective twenty days after this Information Statement is first mailed to our stockholders as of the Record Date.

PROPOSAL #1: ELECTION OF DIRECTORS

Our Board of Directors, by unanimous written consent dated March 13, 2010 (the “ Written Consent ”), has determined that it is in the best interests of our stockholders to recommend to our stockholders that five directors be elected to serve as members of the Company’s Board of Directors. Our Bylaws provide that holders of at least a majority of our issued and outstanding Common Stock may elect directors to hold office for the term for which he is elected and qualified or until his earlier resignation, removal from office or death. By written consent dated March 13, 2010, the Majority Stockholders designated that the number of directors shall be no less than five nor more than seven, and approved the election of the five individuals below to serve as members on the Company’s Board of Directors. Each individual’s election (or re-election, in the case of Mr. Glusic) will become effective 20 days after the mailing of this Information Statement to our stockholders as of the Record Date.

Name	Age	Position
Joseph H. Badal	64	Director
Joseph J. Glusic	52	President, Chief Executive Officer, Principal Executive Officer, Chief Financial Officer, Principal Financial Officer, Director, Secretary and Treasurer
Richard E. Magid	66	Director
Dato Frank Steinleitner	51	Director
Leonard Weinstein	63	Director

Joseph H. Badal, (65). Mr. Badal currently serves as President and CEO of Joseph Badal & Associates, Inc. (“ JB&A ”), where he has served from 1980-1993, and since 2008. JB&A provides consulting services to a variety of firms, including financial, real estate and health care organizations. Mr. Badal also currently serves as a member of the Board of Directors and a member of the Audit Committee for Sacred Wind Communications, Inc., a private company engaged in the telecommunication services industry. Prior to these positions, between December 2001 and December 2007, Mr. Badal served as the Senior Executive Vice President/Chief Lending Officer of Thornburg Mortgage, Inc. (“ TMA ”) and the Chief Executive Officer of Thornburg Mortgage Home Loans, Inc. (“ TMHL ”), a wholly-owned subsidiary of TMA. While at THML, Mr. Badal managed the loan origination activities of Thornburg Mortgage, Inc., including Sales and Marketing, Operations, Underwriting and Servicing. Mr. Badal also served as a director of Thornburg Mortgage, Inc. from June 1993 until December 2007. Mr. Badal is a graduate of Temple University, B.S., and the University of New Mexico, M.B.A. He also attended Stanford University Law School’s Directors College. The Company believes that Mr. Badal’s previous experience serving on the Board of Directors of a publicly reporting company, his experience as a member of the Audit Committee of Sacred Wind Communication, Inc. and his previous experience in the banking and financial industry makes him an excellent candidate for the Company’s Board of Directors.

-4-

Joseph J. Glusic , (52). Mr. Glusic joined the Company in January 2007 as an independent director and was appointed to his current position of President, Chief Executive Officer, Principal Executive Officer, Chief Financial Officer, Principal Financial Officer, Director, Secretary and Treasurer effective January 1, 2008. Prior to this position, between 2001 and 2005 Mr. Glusic served as a consultant to the U.S. Department of Energy as an independent contractor on behalf of Los Alamos Technical Associates. In this position, Mr. Glusic provided assistance to the Bechtel Nevada Engineering Department, the Performance Assurance (PA) Department and the Stockpile Stewardship Program. Mr. Glusic was involved in the development of a Documented Safety Analyses (DSA) report and a Hazard Assessment (HA) for the Stockpile Stewardship Program, and assisted the Bechtel Nevada Engineering Department in its annual review and update of waste disposal programs. Mr. Glusic has also acted as an independent sole proprietor providing financial consulting services between 1998 and 2007. In this role, Mr. Glusic provided counsel and services to companies and individuals in connection with insurance, investments, finance and real estate matters. None of the entities that Mr. Glusic previously worked for is or was a parent, subsidiary or other affiliate of the Company. Mr. Glusic earned a Bachelor of Science degree in Mechanical Engineering from the University of Illinois at Champaign-Urbana. Mr. Glusic’s role as President and CEO of the Company makes him an integral part of the management team at the Company, and his experience in the tire recycling field and with the Company makes him an excellent candidate for the Company’s Board of Directors.

Richard E. Magid , (66). Mr. Magid currently serves as the President of Famous Firsts Ltd., an entity that specializes in special events production, where he has worked since 1985. In this position, Mr. Magid manages a staff of more than twelve individuals who design celebrations and special events each year, with a specialization on the development of theme props and atmospheric decorations for social and corporate events. Prior to his position with Famous Firsts Ltd., Mr. Magid served as President of Bottles Beautiful, a division of Famous Firsts Ltd., between 1969 and 1984. In this position, Mr. Magid created limited edition items for department stores, boutiques and home decor. Mr. Magid received a Bachelor of Arts degree from the University of Miami. The Company believes that Mr. Magid’s previous experience in marketing, business and the development and operation of early stage companies makes him an excellent candidate for the Company’s Board of Directors.

Dato Frank Steinleitner , (51). Mr. Steinleitner currently serves as the Chief Operating Officer of Sekhar Research Innovations Sdn Bhd, where he has worked since 2009. Between 2006 and 2008 Mr. Steinleitner was the Head of the Custome Satisfaction Index project for overseas markets for Daimler AG/DaimlerChryslter AG Stuttgart. Prior to this position, he served as the former President and CEO of Mercedes Benz Malaysia – Daimler AG between 2002 and 2008. Mr. Steinleitner currently serves as a council member of the Federation of Malaysian Manufacturers FMM, and the Malaysian Automotive Association MAA. In addition, Mr. Steinleitner serves on the Board of Directors for the Board of the Malaysian German Chamber of Commerce MGCC, and the German Leadership Network GLN. In June 2008, Mr. Steinleitner founded FS Consulting Sdn Bhd, an entity which provides counsel to foreign investors regarding the automotive and automotive related sector in Malaysia. The Company believes that Mr. Steinleitner’s previous experience working for Daimler AG/DaimlerChryslter AG Stuttgart, as well as his experience working in the automotive industry in Malaysia, makes him an excellent candidate for the Company’s Board of Directors.

Leonard Weinstein , (63). Mr. Weinstein has worked as a Certified Public Accountant and Certified Fraud Accountant for Jackson Memorial Hospital since 2000. In this role, he has performed comprehensive audits of all financial accounting functions, including accounts payable, payroll, gain and loss, fixed assets and grants. In addition, Mr. Weinstein has monitored compliance with accounting and auditing deadlines, consulted on controls for internal operations, and audited various operational activities of the hospital. Prior to this position, Mr. Weinstein served as a Certified Public Accountant and Certified Fraud Accountant for the Miami Children’s Hospital between 1981 and 2000. Mr. Weinstein received a BS in Accounting from the University of Miami. The Company believes that Mr. Weinstein’s previous experience in accounting, auditing and finance makes him an excellent candidate for the Company’s Board of Directors.

Mr. Magid is the stepfather of Chad Curtis, the Company’s majority shareholder. As described below in the section titled “Certain Relationships and Related Transactions, and Director Independence,” Mr. Curtis has engaged in several transactions with the Company that have exceeded $120,000 since the beginning of the Company’s last fiscal year.

In the event the election of five directors identified above becomes effective twenty days after mailing of this Information Statement, then the Board will consist of five members.

THE REQUISITE MAJORITY OF SHAREHOLDERS HAS VOTED IN FAVOR OF THE ELECTION OF THESE DIRECTORS. NO PROXY IS REQUIRED OR REQUESTED. VERY SPECIFICALLY, YOU ARE REQUESTED NOT TO SEND US YOUR PROXY. THIS NOTICE IS FOR INFORMATION PURPOSES ONLY

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

During fiscal year ended September 30, 2009, the Company issued Chad A. Curtis, the Company’s former Chief Executive Officer and President, and the beneficial owner of approximately 85% of the Company’s voting capital stock, an aggregate of 25,000,000 shares of Common Stock for consulting services. These shares were valued at $3,750,000, and they were issued directly to Mr. Curtis in his individual capacity. Mr. Curtis’ consulting services have included his efforts to contact potential customers on behalf of the Company, advising the Company regarding management and operational issues, and negotiating with certain Company vendors to secure assets and supply and service contracts. In addition, Mr. Curtis assisted the Company in the negotiation, acquisition and commencement of operations at the Company’s tire recycling facility in Magog, Quebec. In connection with this transaction, Mr. Curtis helped the Company secure raw material (scrap rubber tires) for the Magog facility, Mr. Curtis was involved in the procurement of rubber recycling machinery and equipment at this facility, and he helped the Company put this machinery and equipment into operation as quickly as possible. In addition, Mr. Curtis facilitated the Company’s execution of contracts for the sale of its recycled rubber products, and Mr. Curtis was involved and helped facilitate the incorporation of Magnum Engineering International, Inc. (MEI), one of the Company’s wholly-owned subsidiaries.

During the fiscal year ended September 30, 2009, Mr. Curtis was also directly issued 25,000,000 shares of Series B Convertible Preferred Stock, which were valued at $14,000,000. As described herein, Mr. Curtis was issued these shares in consideration of the provision of the consulting services described in this paragraph, as well as his execution of a resignation agreement. Mr. Curtis’ consulting services included, among other things, the Company’s use of his close working relationship with the Sekhar Research Innovations Sdn Bhd (“ SRI ”) in Malaysia, which has enabled the Company to develop partnerships and access information regarding key technologies and expertise in the tire recycling and processing industry. Mr. Curtis’ efforts with SRI also enabled the Company to negotiate and secure an exclusive rights and licensing technology agreement with SRI, which includes an array of next generation cost saving custom compounds, process technology and SRI know-how that enables the Company to reconstitute, liquefy and specially blend rubber into ethylene propylene diene monomer (EPDM) rubber powders and compounds.

In addition to Mr. Curtis’ consulting services with SRI, Mr. Curtis helped the Company acquire its tire recycling facility in Hudson, Colorado. Mr. Curtis’ services included assistance with the negotiation and purchase of this property, and he helped the Company negotiate and acquire a portable shredding system for this facility. Mr. Curtis also introduced the Company to its new powder production equipment manufacturer and builder, and he has been directly involved in developing plans to establish rubber crumb and powder production and activation plants for the Company’s Hudson, Colorado facility.

The 25,000,000 shares of Series B Convertible Preferred Stock were also issued to Mr. Curtis in consideration of his execution of a resignation agreement effective October 1, 2009 (the “ Resignation Agreement ”). Pursuant to this resignation agreement, Mr. Curtis accepted $250,000 and the 25,000,000 shares of Series B Convertible Preferred Stock as full and final compensation for the services provided under the January 1, 2008 Consulting Agreement between Mr. Curtis and the Company, as modified by the addendum between Mr. Curtis and the Company dated July 1, 2008 (collectively referred to herein as the “ 2008 Consulting Agreement ”). The Resignation Agreement provided that Mr. Curtis would waive and discharge the Company for any further obligations, actions and liabilities, whether known or unknown, arising from or related to the 2008 Consulting Agreement.

-5-

During the fiscal year ended September 30, 2009, Mr. Curtis was also issued 120,968 shares of Common Stock valued at $150,000 for Consulting Services that he provided to the Company during the fiscal year ended September 30, 2008 and September 30, 2009. These shares were issued to Mr. Curtis in consideration of his provision of consulting services to the Company under the January 1, 2008 Consulting Agreement. This agreement provided in part that Mr. Curtis would be paid $10,000 per month from the Company.

The Company does not currently maintain policies and procedures for the review, approval or ratification of transactions with “related persons” as described in Item 404 of Regulation S-K. However, the Company intends to create such policies and procedures in the future. Through his direct beneficial ownership of (i) 32,207,792 shares of voting Common Stock, which represents 44.46% of the issued and outstanding voting Common Stock; (ii) 25,000,000 shares of Series B Preferred Stock, each of which has the right to one vote for each share of Common Stock into which a share of Series B Preferred Stock can be converted, and which represents 83% of the issued and outstanding voting Series B Preferred Stock, and (iii) 10,000,000 shares of Series A Preferred Stock, each share of which is entitled to the equivalent of twenty voting shares of Common Stock, Mr. Curtis currently exercises voting power over 85% of the Company’s capital stock.

During the fiscal year ended September 30, 2008, the Company’s former president and chief executive officer, Chad A. Curtis, received 7,352,335 shares of Common Stock for consulting fees and in lieu of cash compensation and expenses incurred on behalf of the Company. These 7,352,335 shares of Common Stock were valued at $1,279,515.

Family Relationships

Mr. Magid is the stepfather of Chad Curtis, the Company’s majority shareholder.

Director Independence

Our Common Stock trades on the OTC Bulletin Board. As such, we are not currently subject to corporate governance standards of listed companies, which require, among other things, that the majority of the board of directors be independent. We are not currently subject to corporate governance standards defining the independence of our directors, and we have chosen to define an “independent” director in accordance with the NASDAQ Global Market’s requirements for independent directors. We do not list the “independent” director definition we use on our Internet website.

Currently, Mr. Glusic serves as the sole member of our Board of Directors, and he is the only member of management who also serves on the Board of Directors. Under the NASDAQ rules, we have determined that Mr. Glusic currently does not qualify as an independent director. In addition, Mr. Michel Boux, who served as a director of the Company until his resignation on December 29, 2009, did not qualify as an independent director when he served on the Board of Directors. Following the effectiveness of their election to the Board of Directors, we anticipate that Mr. Badal, Mr. Weinstein and Mr. Steinleitner will be deemed independent. Mr. Magid will not be considered independent because of his status as the stepfather of Chad Curtis, our majority shareholder.

Our Board of Directors will review at least annually the independence of each director. During these reviews, our Board of Directors will consider transactions and relationships between each director (and his or her immediate family and affiliates) and us and our management to determine whether any such transactions or relationships are inconsistent with a determination that the director was independent. The Board of Directors will conduct its annual review of director independence and to determine if any transactions or relationships exist that would disqualify any of the individuals who then served as a director under the rules of the NASDAQ Stock Market, or require disclosure under SEC rules.

Board Meetings

The Company’s Board of Directors held approximately ten meetings during the Company’s last full fiscal year ended September 30, 2009, and each director participated in at least 75% of those meetings. Although the Company does not have a formal policy regarding attendance by members of the Board of Directors at the Company’s annual meeting of stockholders, the Company encourages each director to attend. Because the Company did not hold an annual meeting during the fiscal year ended September 30, 2009, no director attended the prior year’s annual meeting.

Board Leadership Structure

Currently, the sole member of the Board of Directors is Joseph Glusic, the Company’s principal executive officer. However, after the effectiveness of the actions contemplated by this Information Statement, it is anticipated that the Board will elect a Chairman of the Board. In the event Mr. Glusic is elected to serve as Chairman of the Board of Directors, then Mr. Glusic will serve as both the Company’s principal executive officer and the Chairman of the Board. The Company has not yet designated a lead independent director, nor has it specified the role that the lead independent director will play in the leadership of the Board. The Company anticipates that the Board will establish a leadership structure that is appropriate given the specific characteristics and circumstances of the Company. The Board has not yet established its role in the risk oversight of the Company, such as how the Board will administer its oversight function, nor has it determined the effect that this rick oversight function will have on the Board’s leadership structure. However, after the actions contemplated by this Information Statement are effective, then the Board intends to establish its role in the risk oversight of the Company.

Audit Committee or Financial Expert

Due to its limited resources, the Company has not yet established a separately designated standing Audit Committee, nor has it adopted an Audit Committee charter. The Company also does not currently have an “audit committee financial expert” serving on the Board of Directors. However, in connection with the actions contemplated by this Information Statement, the Company’s Board of Directors anticipates that in the near future it will appoint a separately designated Audit Committee comprised of independent directors, and at least one of the independent directors will qualify as an “audit committee financial expert” as defined under Item 407 of Regulation S-K of the 1934 Act, and the Company will adopt an Audit Committee charter.

Compensation Committee

Due to its limited resources, the Company has not yet established a separately designated standing Compensation Committee, nor has it adopted a Compensation Committee Charter. However, in connection with the actions contemplated by this Information Statement, the Company’s Board of Directors anticipates that in the near future it will appoint a separately designated Compensation Committee and adopt a Compensation Committee charter. The Company has not yet established any processes and procedures for the consideration of executive and director compensation, although the Company anticipates that the Board will establish such processes and procedures in the future after the Compensation Committee is formed.

-6-

Nominating Committee

Due to its limited resources, the Company has not yet established a separately designated standing Nominating Committee, nor does it have a Nominating Committee charter. At this time, the Company also does not have a policy with regard to the consideration of any director candidates recommended by security holders. However, in connection with the actions contemplated by this Information Statement, the Company’s Board of Directors anticipates that it will appoint a separately designated Nominating Committee, and adopt a Nominating Committee charter and appropriate nominating policies and procedures, in the near future.

Shareholder Communications

Stockholders wishing to send communications to the Board may contact Joseph Glusic, our Director, President and Chief Executive Officer, at the Company’s principal executive office address. All such communications shall be shared with the members of the Board, or if applicable, a specified committee or director.

EXECUTIVE COMPENSATION

The Company provides named executive officers and our other employees with a salary to compensate them for services rendered during the fiscal year. Salary amounts for the named executive officers are determined for each executive based on his or her position and responsibility, and on past individual performance. Salary levels are typically considered annually as part of our performance review process. Merit based increases to salaries of the named executive officers are based on our board of directors’ assessment of the individual’s performance.

The following table shows for the fiscal years ended September 30, 2009 and 2008, the compensation awarded (earned) or paid by the Company to its named executive officers as that term is defined in Item 402(a)(2) of Regulation S-K. For the fiscal years ended September 30, 2009 and September 30, 2008, Mr. Glusic was our only named executive officer.

Name and Principal Position	Fiscal Year	Salary ($) (2)	Bonus	Option Awards	All Other Compensation	Total ($)
Joseph J. Glusic, President, Chief Executive Officer, Principal Executive Officer, Chief Financial Officer, Principal Financial Officer, Director, Secretary and Treasurer (1)	2009	$418,000	$3,175,000 (3)	0	$14,730 (4)	$3,607,730
	2008	$90,000 (7)	$20,000 (7)	$48,997 (5)	$13,236 (6)	$172,233

1 Mr. Glusic currently serves as the sole director on the Company’s board of directors. Mr. Glusic does not receive any compensation for this director role.

2 Salary is total base salary earned, either unpaid and accrued or paid.

3 This bonus represents the dollar value of 5,000,000 shares of Series B Preferred Stock granted as a bonus in August 2009, and 2,500,000 shares of restricted Common Stock granted as a bonus in November 2008.

4 Mr. Glusic’s “All Other Compensation” for 2009 consisted of (i) $7,782 paid as an automobile allowance; and (ii) $6,948 paid as medical insurance expense.

5 This option award represents the dollar value of stock options to purchase 500,000 shares of Common Stock.

6 Mr. Glusic’s “All Other Compensation” for fiscal year 2008 consisted of (i) $5,625 paid as an automobile allowance; and (ii) $7,611 paid as medical, life and disability insurance expense.
7 Mr. Glusic’s salary and bonus in fiscal year ended September 30, 2008 was partially paid through the issuance of 466,212 shares of Common Stock, which were valued at the date of issuance at $91,877.24.

-7-

Employment Agreements

Mr. Glusic was appointed as Chief Executive Officer and a Director of the Company on January 1, 2008. On January 1, 2008, the Company and Mr. Glusic executed an employment agreement pursuant to which Mr. Glusic is to serve in his current position through December 31, 2012. Between January 1, 2008 and January 1, 2009, Mr. Glusic was entitled to receive a salary of $10,000 per month, and thereafter, Mr. Glusic’s salary was to be increased over the previous year’s base salary in each of the subsequent twelve month periods by an amount that is the greater of five percent or the percentage increase in the average United States Cost of Living Index. The Company also agreed to increase the base salary for Mr. Glusic by $10,000 per month upon the start up of each Company owned thermo plastic elastomer plant via direct ownership or a joint venture, and by $20,000 per month upon the start up of each tire recycling Company owned plant, with the limitation that in no case shall Mr. Glusic’s monthly salary exceed $40,000 per month. In addition to this base salary, Mr. Glusic may receive additional compensation in the form of an annual incentive bonus as determined by the Board of Directors. Mr. Glusic is also entitled to benefits under the Company’s group life, health, disability major medical and other insurance coverages, and Mr. Glusic is provided $625 per month for vehicle expenses.

Mr. Glusic’s employment agreement provides that in the event Mr. Glusic is terminated for any reason other than Constructive Termination or for Cause (each as defined in the Agreement), then Mr. Glusic is entitled to an amount equal to one times his base salary in effect on the date of termination. Further, in the event Mr. Glusic is terminated by reason of a Constructive Termination or for Cause, then Mr. Glusic shall not, for a period of twenty-four months following the date of termination, directly or indirectly manage, consult or operate with any entity deemed to be in competition with the Company or any of its subsidiaries. If the termination is without cause, then Mr. Glusic shall not compete with the Company or any of its subsidiaries for a period of twelve months.

The Company currently does not have any other plans, understandings or arrangements whereby any of the Company’s officers, directors, or principal stockholders, or any of their affiliates or associates, are entitled to receive funds, stock or other assets in connection with the Company’s participation in a business. No advances have been made or contemplated by the Company to any of its officers, directors, or principal stockholders, or any of their affiliates or associates.

Benefit Plans

On August 1, 2007, the Company adopted its 2007 Equity Incentive Plan (the “ Plan ”). The Plan is for key employees (including officers and employee directors) and consultants of the Company and its affiliates. The Plan permits the grant of stock options, Common Stock and other stock-based awards to employees and directors for up to 5,000,000 shares of Common Stock. Stock option awards are generally granted with an exercise price equal to the fair value of the Company’s Common Stock at the date of grant. The Company issued 500,000 stock options under the Plan during the year ended September 30, 2008 to its President and Chief Executive Officer. There have been no other options issued under this Plan.

On June 29, 2009, the Company adopted its 2009 Consultant Stock Option SAR and Stock Bonus Plan (the “ 2009 Plan ”). The 2009 Plan is for independent consultants of the Company and its affiliates. The 2009 Plan permits the grant of stock options, stock option SARs, and Common Stock bonuses for up to 10,000,000 shares of Common Stock. Stock option awards are generally granted with an exercise price equal to the fair value of the Company’s Common Stock at the date of grant. There are currently no stock options, stock option SARs, or Common Stock bonuses that have been awarded pursuant to the 2009 Plan.

Option Grants in Last Fiscal Year

There were no stock options granted during the fiscal year ended September 30, 2009. During the fiscal year ended September 30, 2008, Mr. Joseph Glusic was awarded stock options to purchase 500,000 shares of Common Stock at an exercise price of $0.10. During fiscal year ended September 30, 2009, Mr. Glusic exercised these options and was granted 500,000 shares of Common Stock.

OPTION EXERCISES AND STOCK VESTED

Name	Option Awards
Joseph J. Glusic, President, Chief Executive Officer, Principal Executive Officer, Chief Financial Officer, Principal Financial Officer, Director, Secretary and Treasurer (1)	Number of Shares Acquired on Exercise (#)	Value Realized o n Exercise ($)
	500,000	$80,000

-8-

Aggregated Option Exercises in Last Fiscal Year and Fiscal Year End Option Values

During March 2009, Joseph Glusic exercised options to purchase 500,000 shares of the Company’s Common Stock. These stock options were exercised at the exercise price of $0.10 per share, for an aggregate of $50,000. There were no other stock option exercises for the fiscal year ended September 30, 2009 or fiscal year ended September 30, 2008.

Outstanding Equity Awards at Fiscal Year-End

There are currently no stock options outstanding from the Company’s 2007 Equity Incentive Plan, 2009 Consultant Stock Option SAR and Stock Bonus Plan, or any other plan.

Director Compensation

The Company has not yet established any compensation arrangements with the directors who are identified in this Information Statement. Compensation arrangements with directors may be established at some point in the future and may include cash and equity awards; however, as of the date of this Information Statement the Company does not have a formal plan for director compensation.

During the fiscal year ended September 30, 2009, Joseph Glusic and Michel Boux served as directors of the Company, and neither Mr. Glusic nor Mr. Boux received any type of compensation from the Company for serving as a director for the year ended September 30, 2008 or September 30, 2009. Michel Boux resigned from his position on the Board on December 29, 2009.

SECURITIES OWNERSHIP OF CERTAIN BENEFICIAL OWNERS

AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

The following table sets forth as of March 16, 2010 the number and percentage of the outstanding shares of capital stock which, according to the information supplied to the Company, were beneficially owned by (i) each person who is currently a director or a nominee for director of the Company, (ii) each executive officer, (iii) all current directors and executive officers of the Company as a group, and (iv) each person who, to the knowledge of the Company, is the beneficial owner of more than 5% of the outstanding Common Stock. Except as otherwise indicated, the persons named in the table have sole voting and dispositive power with respect to all shares beneficially owned, subject to community property laws where applicable.

Name and Address	Number of Shares of Common Stock Beneficially Owned (1) (2)	Percent of Common Stock Outstanding (3)	Number of Shares of Series B Preferred Stock Beneficially Owned (1) (2)	Percent of Series B Preferred Stock Outstanding (4)	Number of Shares of Series A Preferred Stock Beneficially Owned (1) (2)	Percent of Series A Preferred Stock Outstanding (5)
Joseph J. Glusic 2850 W. Horizon Ridge Pkwy, Ste 200 Henderson, NV 89052	3,805,601	5.24%	5,000,000	16.66%
Richard Magid 2850 W. Horizon Ridge Pkwy, Ste 200 Henderson, NV 89052	176,520 (6)	*
Leonard Weinstein 2850 W. Horizon Ridge Pkwy, Ste 200 Henderson, NV 89052	205,000	*
All executive officers and directors as a group (7)	4,187,121	5.76%	5,000,000	16.66%
Chad A. Curtis 909 Cordova Rd. Fort Lauderdale, FL 33316	32,207,792	44.35%	25,000,000	83%	10,000,000	100%
CEDE & Company P.O. Box 222 Bowling Green Station New York, NY 10274	21,035,161	28.96%

-9-

(1) Under SEC Rule 13d-3, a beneficial owner of a security includes any person who, directly or indirectly, through any contract, arrangement, understanding, relationship, or otherwise has or shares: (i) voting power, which includes the power to vote, or to direct the voting of shares; and (ii) investment power, which includes the power to dispose or direct the disposition of shares. Certain shares may be deemed to be beneficially owned by more than one person (if, for example, persons share the power to vote or the power to dispose of the shares). In addition, shares are deemed to be beneficially owned by a person if the person has the right to acquire the shares (for example, upon exercise of an option) within 60 days of the date as of which the information is provided. In computing the percentage ownership of any person, the amount of shares outstanding is deemed to include the amount of shares beneficially owned by such person (and only such person) by reason of these acquisition rights. As a result, the percentage of outstanding shares of any person as shown in this table does not necessarily reflect the person’s actual ownership or voting power with respect to the number of shares of Common Stock actually outstanding on the date of this Information Statement.

(2) Except as indicated in the footnotes below, each person has sole voting and dispositive power over the shares indicated.

(3) Based on the 72,626,212 shares of Common Stock issued and outstanding as of March 16, 2010.

(4) Based on the 30,000,000 shares of Series B Preferred Stock issued and outstanding as of March 16, 2010.

(5) Based on the 10,000,000 shares of Series A Preferred Stock issued and outstanding as of March 16, 2010.

(6) Representing 35,536 shares of Common Stock beneficially owned by the Richard E. Magid Roth IRA, 114,204 shares of Common Stock beneficially owned by Mr. Magid’s wife Judy A. Magid, and 26,780 shares beneficially owned by the Judy A. Magid Roth IRA account.

(7) Neither Mr. Badal nor Mr. Steinleitner beneficially own any capital stock of the Company.

* Less than one percent.

SECTION 16(A) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE

Section 16(a) of the Securities Exchange Act of 1934 requires our directors, executive officers and persons who own more than ten percent of a registered class of our equity securities, to file with the Securities and Exchange Commission initial reports of ownership and reports of changes in ownership of our Common Stock. The Company believes the following forms required to be filed under Section 16 of the Exchange Act have not been filed timely:

Three Form 4s for Joseph Glusic filed on April 27, 2009. These Form 4s for Mr. Glusic covered forty reports and sixty-one transactions that were not reported on a timely basis.

One Form 4 for Mr. Glusic filed April 28, 2009. This Form 4 for Mr. Glusic covered one report and six transactions that were not reported on a timely basis.

One Form 4 for Mr. Glusic filed October 29, 2009. This Form 4 for Mr. Glusic covered one report and two transactions that were not reported on a timely basis.

One Form 4 for Mr. Glusic filed January 14, 2009. This Form 4 for Mr. Glusic covered one report and one transaction that were not reported on a timely basis.

Two Form 4s for Michel Boux filed May 13, 2009. These Form 4s for Mr. Boux covered twenty-five reports and twenty-five transactions that were not reported on a timely basis.

One Form 4 for Chad Curtis filed May 12, 2009. This Form 4 for Mr. Curtis covered six reports and six transactions that were not reported on a timely basis.

One Form 4 for Mr. Curtis filed October 29, 2009. This Form 4s for Mr. Curtis covered one report and one transaction that were not reported on a timely basis.

One Form 4 for Mr. Curtis filed January 13, 2009. This Form 4 for Mr. Curtis covered one report and one transaction that were not reported on a timely basis.

DISSENTER’S RIGHTS

Under Nevada law, holders of our Common Stock are not entitled to dissenter’s rights of appraisal with respect to the election of Mssrs. Badal, Glusic, Magid, Steinleitner and Weinstein to our Board of Directors.

FINANCIAL AND OTHER INFORMATION

For more detail information about us, including statements, and other information about the business and operations of our Company, you may refer to our periodic filings made with the SEC from time to time. Copies of these documents are available on the SEC’s EDGAR database at www.sec.gov and a copies of which may be obtained by writing our Secretary, Mr. Joseph Glusic, at the address specified above. This Information Statement is available at our website, www.magnumresources.net.

DEADLINE FOR RECEIPT OF STOCKHOLDER PROPOSALS FOR OUR NEXT ANNUAL MEETING

Stockholders may submit proper proposals for inclusion in our next proxy statement and for consideration at our 2010 annual meeting of our stockholders by submitting their proposals in writing to the Secretary of the Company a reasonable time before the Company begins to print and send its proxy materials for the 2010 annual meeting. The Company has not set the date for its 2010 annual meeting of stockholders and therefore has not established a deadline for the submission of shareholder proposals to be considered at such meeting. The deadline will be communicated to shareholders in the earliest possible Quarterly Report on Form 10-Q.

-10-

INTERESTS OF CERTAIN PERSONS IN OR OPPOSITION TO MATTERS TO BE ACTED UPON

Except as disclosed elsewhere in this Information Statement, since October 1, 2009, being the commencement of the current fiscal year, none of the following persons has any substantial interest, direct or indirect, by security holdings or otherwise in any matter to be acted upon:

any director or officer of the Company;

any proposed nominee for election as a director of the Company; and

any associate or affiliate of any of the foregoing persons.

The shareholdings of our directors and officers are listed above in the section entitled “Securities Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.” To our knowledge, no director has advised that he intends to oppose any action described herein.

-11-

New Elected Board Directors of Magnum D’Or Resources, Inc and Chief Financial Officer

Magnum — Tue, 16 Mar 2010 05:00:47 +0000

Professional Background Mr. Frank Steinleitner is the Ex President and CEO of Mercedes-Benz Malaysia – Daimler AG. Mr. Steinleitner is currently the Chief Operating Officer of SRI and is an International CEO with a well rounded professional working experience in Asia, Africa and Europe. Mr. Steinleitner possesses intercultural competence and is an expert in all activities relevant to Sales & Marketing in the automotive industry; from the manufacturing plant to the customer. He has excellent knowledge in economics, is result oriented and experienced in process and change management. Frank had been with Mercedes-Benz for 30 years. His international assignments took him to Burundi, to China and since 1999 to Malaysia as President & CEO of Mercedes-Benz Malaysia. Involvement in Trade Associations: Council member of the Federation of Malaysian Manufacturers FMM, Malaysian Automotive Association MAA, Member of the Board of the Malaysian German Chamber of Commerce MGCC and German Leadership Network GLN. Mr. Steinleitner has invested in the automotive service sector in Malaysia. He believes that investing in the automotive ASEAN region got good potential to grow profitably. In 6/2008 Frank Steinleitner founded‚ FS Consulting Sdn Bhd’ advising Foreign Investors of the automotive and automotive related sector in Malaysia. Furthermore the company involves itself in giving views to the government authorities relevant to the Passenger Car & Commercial Vehicle market and the parts manufacturing industry.

Charismatic and powerful leader
Confident in negotiations and strong in implementation
Customer oriented thinking and acting
Analytical, strategic approach
Flexible with focus on implementation and motivation, to design
Emotionally stable and able to work under pressure

Professional Career

Mid 2009/Current – Sekhar Research Innovations Sdn Bhd (”SRI”)

Chief Operating Officer

06/08 – today – Founder of ‚Chemplex Continental Sdn Bhd’

Distribution of Fuel Additive products in ASEAN markets

06/08 – today – Founder of ‘FS Consulting Sdn Bh’

Market entry concepts and product positioning for investment projects in the automotive industry in new markets of Asia / Pacific
Various automotive related consultancy

11/06 – 05/08 Daimler AG / DaimlerChrysler AG Stuttgart

Head of CSI project for overseas markets

Introduction of a worldwide comparable CSI measurement system as well as establishment of measures to achieve a higher customer satisfaction rate

10/02 – 10/06 DaimlerChrysler AG / Malaysia

President & CEO

Company with 300 employees with turnover of € 250 million
Foundation of private limited company DaimlerChrysler Malaysia
Sales volume of 6,000 passenger cars and commercial vehicles p.a.
Positioning of DaimlerChrysler as a brand and introducing the image of a corporate & socially responsible company
Increased turnover by 50% due to the introduction of new products (Mitsubishi Fuso) in volume segments, at the same time prepared strategic growth of business
Consistent market and brand presentation by implementing a nationwide Autohaus concept
Established and distinctively shaped the development of the local automobile industry

Successfully concluded negotiations for the foundation of a new joint venture company at highest government level
Council member of the Federation of Malaysian Manufacturers
Council member of the Malaysian Automotive Association
Member of the Board of the Malaysian German Chamber of Commerce
Foundation Member of German Leadership Network (Member of Board)

Consolidation of 3 assembly plants to achieve highest quality level and economical results
Establishment of task force team to coordinate first aid for the Tsunami catastrophe

01/99 – 09/02 Cycle & Carriage Bintang Berhad / Malaysia

Director of Operations

Responsible for 1,200 employees
Multibrand Management PC & CV (Mazda, Kia, Mercedes-Benz)
Restructuring of wholesale and retail businesses

07/92 – 12/98 Mercedes-Benz AG Stuttgart

Senior Manager Sales & Marketing CV and Projects Asia/Pacific

Responsible for the operational sales business with a global sales team of approx. 100 people
Light commercial vehicle project for the export sales of approx. 10,000 units ex Indonesia / Korea
Establishment of CV milestones at the growth strategy in Asia / Pacific region

- Basis for possible cooperation with Japan, China, India, Korea

07/90 – 06/92 Mercedes-Benz Beijing Liaison Office / VR China

Chief Representative

Responsible for 50 employees
Complete positioning of a new business in a new cultural and economical environment
Start-up of PC-, CV- and Service-Organisation

01/82 – 06/90 Daimler-Benz AG Stuttgart

Manager Sales & Marketing Africa

Responsibility for export sales PC and CV English and French speaking countries
Sales volume increase of approx. 300%
Steering of key accounts and worldwide International Aid organizations
Projects Africa

01/80 – 12/81 Sogerbu S.A.R.L. / Burundi

Spare Parts Manager

Operational overall responsibility to secure the nationwide spare parts availability

08/78 – 12/79 Daimler-Benz AG Stuttgart

Trainee program Export- and Executive Functions

Central Spare Parts Department and Logistics

Education

06/76 –07/78 Daimler-Benz AG

Degree: Industrial Business Management

Knowledge

German-, English-, French business fluent

MS Office

Interests

President Hockey and Tennis club Stuttgarter Kickers

International youth exchange program

Awards

1) In 2004 Mr. Steinleitner was awarded the Malaysian ‘Sir’ title (Dato’) for my contribution to the Malaysian Industry,

2) Mr. Steinleitner was also awarded ‘Automotive Man of the year’ in 2005,

3) Mr. Steinleitner attended some INSEAD management training courses in Fontainebleau/France

—————————————————————————————————————————————————————————————————————————————

JOSEPH H. BADAL, DIRECTOR

Professional Background Joseph Badal has worked for the 37 years in the financial services industry, retiring in 2007 after 6 years as the CEO of Thornburg Mortgage Home Loans, Inc. and as Chief lending Officer, Senior Executive Vice President and a Director of Thornberg Mortgage, a NYSE-Listed Company with $57 Billion in total assets. He built Thornburg mortgage’s loan organization from inception to a $6.5 Billion per year prime, jumbo mortgage loan origination platform. Total assets grew from $4.0 Billion to $57.6 Billion during his tenture. Mr. Badal’s duties included the development of a professional organization, from project development, to sales, loan origination, underwriting, operations, and through to servicing that accommodated rapid growth and the establishment of a franchise that become the lender of choice for affluent borrower’s across the united states. Mr. Badal formed Joseph Badal & Associates, Inc. in 1980 to provide consulting services to financial institutions and other clients in the areas of real estate development, organizational development, strategic planning, asset valuation and disposition, and court-appointed receivership.

Employment

Joseph Badal & Associates, Inc., President & CEO; Albuquerque, New Mexico; 2008 to Present; 1980-1992: Provide consulting services to a variety of firms, including financial, real estate, and health care organizations. Services include asset disposition, court-appointed receivership, financial consulting, organizational development, etc. Additionally, speak to a wide range of business groups and corporations on organizational culture and development and on current economic conditions — including the capital markets meltdown.

Thornburg Mortgage Home Loans, Inc., CEO; Thornburg Mortgage, Inc., Senior Executive Vice President, Chief Lending Officer & Managing Director; Santa Fe, New Mexico; December 2001 to December 2007 (Retired): Managed the loan origination activities of Thornburg Mortgage, Inc., a NYSE-listed mortgage REIT and Fortune 1000 company, including Sales and Marketing, Operations, Underwriting, Servicing, and a variety of vendors. Built the origination organization from inception to a $6.5 billion annual origination platform. Total assets grew from $4.0 billion in 2001 to $57.6 billion in 2007. Thornburg Mortgage had only one minimal loan loss during my tenure. Duties included the development of a professional organization that accommodated rapid growth and the establishment of a franchise that became the lender of choice for affluent borrowers in the United States.

Charter Bank, Senior Vice President/COO; Albuquerque, New Mexico, 1994 to 2001: Managed the bank’s mortgage-banking subsidiary, including responsibility for all origination and operations activities. Enacted marketing and operations policies and programs that, after six months, elevated the company to the sustained position of top lender in its markets. Member of holding company’s Senior Management Committee. Conceived of and implemented highly successful cross sell referral program that dramatically helped grow the company’s banking and insurance operations. Duties included project management, sales and marketing management, team recruitment and development, and product development.

Norwest Mortgage Company, Branch Manager; Albuquerque, New Mexico. 1992 to 1994: Managed a branch for what was then the largest retail mortgage originator in New Mexico. Also, was the top mortgage loan originator in the state and among the top twenty loan originators out of 4,800 nationally. Served as marketing director for the state. Duties included direct loan origination, team recruitment and management, and development and implementation of marketing programs.

Joseph Badal & Associates, Inc., President & CEO, Albuquerque, New Mexico, 1980 to 1992: Founded and managed this corporation, specializing in consulting and real estate sales and development. Provided consulting services to major financial institutions, healthcare companies, and a broad range of industrial and professional organizations. Became the largest medical office developer and land syndicator in the state. Duties included business development and project management.

Livingston & Associates, Inc., Executive Vice President; Beverly Hills, California, 1976 to 1980: Managed corporate financing, strategic planning, and consulting activities. Transactions included mergers and acquisitions, financing acquisitions, and real estate development consulting. Duties included client development, project management, and financing acquisition.

The Association of Commerce & Industry, Vice President; Albuquerque, New Mexico, 1975 to 1976: Was hired to create this organization’s first Membership Development Department. Built the membership base from 200 member companies to 1,500 companies in 15 months. Duties included membership recruitment, membership communications, and board interaction.

The First National Bank in Albuquerque (now Wells Fargo Bank), Vice President; Albuquerque, New Mexico, 1972 to 1975: Managed Major Commercial Accounts area as well as Correspondent Banking Department, setting up the largest “downstream” correspondent banking network in New Mexico. Duties included sales, account management, and loan structuring and analysis.

U.S. Army (last rank: Captain), 1967 to 1972: Served overseas and in the U.S.; awarded Bronze Star, Meritorious Service Medal, and Army Commendation Medal with Oak Leaf Cluster. Included three (3) years in command positions with up to 250 subordinates. Served as advisor to foreign governments.

Activities

Present:

Board Member & Audit Committee Member, Sacred Wind Communications, Inc.

Past:

Board Member, Thornburg Mortgage, Inc. (NYSE)
Board Member & Audit Committee Member , New Mexico Coalition for Literacy
Chairman of the Audit Committee of the Board of Directors, Thornburg Mortgage, Inc.
Chairman, New Mexico Mortgage Finance Authority
State Representative, District 27, New Mexico House of Representatives
Founder, New Mexico Youth Soccer Program and Coach for 15 years
Co-Chairman, National Holocaust Museum Campaign
Director and President, Presbyterian Heart Institute
Director and Executive Committee Member, Presbyterian Hospital Foundation
Vice-Chairman, United Way of Albuquerque
Treasurer, Southwest Writers Workshop

Education

Directors College, Stanford University Law School
MBA, University of New Mexico
The Defense Language Institute, West Coast
BS in International Finance, Temple University
Language Training in Greek, French, Italian & Spanish.

Other Information: I have written numerous professional articles which have been published in a variety of mortgage, finance and real estate industry magazines, and have extensive experience with media (print & electronic) interviews and in speaking to business groups. Also, I have had two novels published (The Pythagorean Solution and Terror Cell). My third novel (The Nostradamus Secret) will be released in 2010.

LEONARD WEINSTEIN, CPA CFE, DIRECTOR

Professional Background Mr. Leonard Weinstein is a Certified Public Accountant, Certified Fraud Examiner, and seasoned corporate accountant with over 30 years of corporate auditing and management experience. He has extensive expertise in evaluating accounting system controls, fiscal management and financial reporting. Mr. Weinstein has a proven record of developing and implementing financial and operational controls that improve his clients’ profit and loss accounting. Mr. Weinstein also has extensive experience as an audit manager that includes setting up and directing audit departments, audit system reviews, and financial reporting and analysis for public and private corporations and small businesses. Mr. Weinstein’s work experience has focused primarily in the health care industry. He has worked as an audit professional in major healthcare institutions including Jackson Memorial Hospital, Miami, Florida and Miami Children’s Hospital, also in Miami, Florida. Mr. Weinstein’s work responsibilities have included review of controls associated with complex financial systems utilized by hospitals, effecting significant changes in financial processes resulting from audit recommendations reported to requisite Audit and Finance Committees of the Board. Mr. Weinstein’s comprehensive audit reviews of clinical and non-clinical operations have resulted in significant cost savings initiatives and implementation of tighter financial controls. Prior to his employment in the health care industry, Mr. Weinstein assisted a wide variety of individuals and business enterprises with financial and tax planning as well as audit related services.

Experience Summary Auditing and compliance, accounting systems, audit management and training of staff, financial and strategic planning, business process re-engineering, operating and working capital, risk management, value added analysis, GAAP/GAAS, financial projections, general ledger, trial balance, financial statements, expense analysis, tax preparations, tax reporting, tax planning, payroll, benefits administration, cross functional team leadership, financial and strategic planning, profit and loss management, auditing and compliance, operating and working capital, budget development and management, business valuations, and bank reconciliations.

Major Career Achievements

Established the Medical Charge Audit Department at Miami Children’s Hospital in the mid-80’s, to challenge payment denial by Medicare, Medicaid and insurance companies, resulting in Hospital retention of hundreds of thousands of dollars in revenues on an annual basis.
Established a Payroll Audit Function at Miami Children’s Hospital that identified thousands of dollars in overpayments.
Collaborated in the development of objectives and protocols for the Clinical Management Service Lines implemented at Miami Children’s Hospital in the mid-90’s.
Conducted profitability evaluations associated with incorporation of medical procedures and acquisition of expensive medical equipment.
Conducted audit and forensic accounting procedures in connection with several criminal investigations.
Established and implemented comprehensive multi-year Audit Plans based on established risk protocols.

Employment

Jackson Memorial Hospital, Miami, FL 2000 – Present
Certified Public Accountant and Certified Fraud Accountant

Performed comprehensive audits of all financial accounting functions including accounts payable, payroll, G/L, fixed assets, accounts receivable, and grants for $2 billion budget and operations including 12,000 employees.
Ensured compliance with accounting/audit deadlines.
Conducted comprehensive audits of major construction projects exceeding $30 million capital cost.
Conducted audits of major hospital server provider operations including purchasing, environmental compliance, food service, and linen service.
Conducted audits of clinical operations including but not limited to Pharmacy, surgical services, emergency services, radiology, and clinics.
Evaluated and reported on the activities of Consultants and other outsourced activities.
Provided improved controls for internal operations.

Miami Children’s Hospital, Miami FL 1981 to 2000
Certified Public Accountant and Certified Fraud Accountant

Organized a new auditing department and recruited and trained two auditors.
Prepared and implemented the Annual Audit Plan.
Prepared and presented Audit Reports to the Finance Committee of the Board
Generated Audit Department budgets and forecasts annually and presented to the Executive Management Team.
Conducted profitability analysis on new medical programs planned to be implemented, as well as the purchase of equipment costing $1 million plus.
Served on various hospital steering committees in an audit advisory capacity.

Education

BS in Accounting, University of Miami, 1970

Professional Licenses

Certified Public Accountant, State of Florida

Certified Fraud Examiner

RICHARD E. MAGID, DIRECTOR

Professional Background Mr. Richard E. Magid has owned, operated, managed and started a number of businesses throughout his 40 year career in business. Mr. Magid was the President and owner of an internationally recognized manufacturing company based in New York specializing in limited edition collectables. He is currently an award winning event producer in the special events industry. A seasoned professional and experienced leader, Mr. Magid excels in product development and associated business forecasting. He has led cross-functional teams, managing a product line from inception to completion, justifying new product development investments, determining and documenting new production requirements, developing sales forecasts and product pricing, and successfully launching new products to the marketplace. Mr. Magid is versed in contract negotiations, project estimating, product design trouble-shooting and management, and associated material purchasing. He also has a proven ability to manage key account relationships and large-scale projects, experience with presenting to senior management, representing senior management in discussions with others in the company, meeting with customers, training and assisting dealers, and coordinating the activities of regional managers. Mr. Magid has been a multiple-time recipient of the prestigious ‘Esprit Award’ and the ‘Gala Award.’ As the owner of a variety of companies his specialized skills include strategic planning, company start-up and development, managing, accounting, expertise management supervision, quality control, and strategy/business plan implementation.

Professional Experience Highlights

Negotiated large corporate contracts with professionals for International expansion.
Re-merchandised several custom product lines to help improve company sales.
Developed the world’s first non-electric rotating centerpiece.
Designed and created the world’s first limited edition decanters with multiple molds and moveable components.
Developed strong employee and subcontractor productivity and ability to identified, isolated, and eliminated work hazards.
Established solid, positive, and productive work environment.

Employment

President of Manufacturer Famous First Ltd., New York: 1968 – 1984 The design staff at Famous First Ltd. (the Company) has produced some of the most unusual replica creations in Europe, the United States, as well as throughout the world. The Company specialized in creating custom replicas of famous historic vehicles as well as exact reproductions such as the Indianapolis 500 1911 Marmon Wasp, the 1851 Yacht America, Lockheed L-1011 Transport Carrier, ‘Dino’ Ferrari, Porsche Targa, and handmade ceramic sailing ship models for Cutty Sark of England. The Company has been written and talked about in a variety of antique and collectable books and magazines. Famous First Ltd. was the first company to have its non-automotive products listed in the legendary “Automobile Quarterly.” The Famous Firsts Ltd. 24 carat gold hand painted commemorative ceramic figurine of “The 1927 Spirit of St. Louis” still remains in a showcase at the San Diego Airport. The Company was awarded exclusive rights to reproduce and manufacture museum quality ceramic collector decanters for Bill Harrah and the Harrah’s Automobile Museum of Reno, Nevada. Famous First Ltd. was featured on the cover of Harrah’s Casino Magazine.

Achievements

Within the first year had launched over 100,000 customers.
By the third year moved into wholesale distribution, increasing national distribution,
Developed effective cost accounting and management tools to support business.
Effective collaboration with all Company units, including field engineering, systems engineering, supply sector, managerial staff, and local branch administration.
Organized high-level sales strategy for million dollar business/client commitments.
Responsible for a product line of over 300 products representing multi-millions in sales revenue.
Increased product line sales 50%, and managed the company’s multi-million dollar inventory.
Launched new products to replace existing product lines, thereby increasing annual unit sales from 10,000 to 100,000.
Developed critical relationships with dealers, national accounts, end-users, and the sales force to define new product requirements and work with product development to document these requirements in product specifications.
Determined sales forecasts for proposed new products and justified new product development investments through specified analysis.
Reviewed product pricing and gross margin goals for existing products annually and establishing new product pricing.
Worked with international equipment suppliers and manufacturing plants for cost effective production to the North American market.

President, Bottles Beautiful (Division of Famous First Ltd.), New York: 1969 – 1984 Bottles Beautiful specialized in unique limited edition items for department stores, boutiques and home décor. Some of these items were created exclusively for high-end department stores such as B. Altman, Saks Fifth Avenue, Hammacher Schlemmer Gift Catalogue, and TWA Airline Catalogs. Bottles Beautiful has been recognized in a wide variety of books and magazines over the years.

Achievements

Effective personnel management.
Implemented sound budget, cost control, and accounting systems.
Created over 40 innovative product lines.
Analyzed product offerings for competitive market positioning.

President, Famous Firsts Ltd., Florida: 1985 – present Famous Firsts, Ltd. is an award winning full service Special Events Production Company specializing in the most unusual theme party decor. Operating with over a dozen staff members, Famous Firsts designs hundreds of celebrations and special events each year, most in the $5,000 to $100,000 range. The Company has been creating masterpiece events for over 40 years and has developed an extensive line that includes theme decor, custom designed invitations, and innovative rotating table centerpieces and displays. The Company specializes in developing cartoon creations for the International Museum of Cartoon Art, custom logos for professional sports teams, decor for the Miss U.S.A. Beauty Pageant, props for TV commercials and corporate events, and award winning creative trade show booths. It employs a team of creative experts to produce cutting edge designs. The Company combines state of the art lighting, special effects, and sound to create the perfect atmosphere for their events. With exotic floral arrangements, rotating centerpieces and displays, unique props, backdrops, stage sets and visual enhancements, the Company produces elaborate, one-of-a-kind events.

Achievements

Responsible for the opening for the International Museum of Cartoon Art and the Boca Raton Museum of Art.
Numerous recognitions and write-ups for Best Performance.
Successful business operations, exceeding sales targets and increasing profits by 40%.
Effective transaction negotiator, closing nearly 90% of all contracts.
Successfully trained, staffed, and managed up to fifty man crews.
Established market presence and built sales opportunities.
Responsible for making initial presentation, developing sales and pricing, and explaining service contract benefits and features.
Developing, establishing, and maintaining important account relationships.
Reduced labor and cost of goods sold by 20%.

BEN BROWN, CHIEF FINANCIAL OFFICER

Professional Experience: Ben Brown, worked as an audit manager for KPMG from September 2004 to September 2008 and for Weinberg & Co. from October 2008 to August 2009. From August 2009 to present, Mr. Brown has worked as a consultant providing accounting services.

Professional Background: Mr. Brown has spent the majority of his career involved in public accounting where he audited public companies. His responsibilities have included supervising public company audits and public filings. He has also acted as an instructor of continuing education courses while an audit manager.

Education: Mr. Brown has a master’s degree in accounting from Southern Utah University and has attended various academic and professional educational programs throughout his career to enhance his technical and managerial skills.

Licenses: Mr. Brown has been licensed as a CPA by state government agencies, as required to perform tasks and projects.

Tire Review Article: Initial Tests of Recycled Rubber Tire a Success February 05, 2010

Magnum — Fri, 05 Feb 2010 07:00:05 +0000

Magnum D’Or Resources reports that truck tires utilizing its recycled rubber-based SRI compound have successfully passed the 2,500 kilometer validation trials they were undergoing at the Rubber Research Institute of Malaysia.

The tires were fitted to a rear axle of a light commercial vehicle alongside Bridgestone BS100 tires in size 7.00-16 12PR in order to test performance and wear resistance.

The purpose of the trials, says the company, was to establish whether it is possible to include substantive recycled content in production OE and replacement tires without compromising performance and safety.

According to Magnum D’Or Resources, the results of these tests suggest the company’s SRI compounds may be able to provide manufacturers recycled tires that operate just as efficiently as virgin rubber tires.

Protocol testing will continue over the cause of the coming year to establish the performance levels of the Magnum SRI compound in different variants of compounds, tire types and applications. (Tyres & Accessories)

To view aritcle please visit: http://www.tirereview.com/Article/70628/initial_tests_of_recycled_rubber_tire_a_success.aspx

Babcox Publications
3550 Embassy Parkway
Akron, OH 44313

Photos of the Rubber Powder Equipment Installation at Magnum’s Magog, Quebec Facility

Magnum — Thu, 04 Feb 2010 19:41:28 +0000

Photos below are taken of Magnum Engineering, Inc. (MEI), in the process of installing fine rubber powder production equipment at the Company’s Magog, Quebec facility.

Magnum SRI Custom Compound Tires Pass 2,500km Test and Trials at the Rubber Research Institute of Malaysia

Magnum — Tue, 02 Feb 2010 11:00:44 +0000

Pictures of the Magnum SRI Truck and Magnum SRI Next Generation Custom Compound Truck Tires.

Pictures were taken at the Rubber Research Institute of Malaysia

Magnum Article: Save Me … 12/26/09 Ideas for doing more with less By The Denver Post

Magnum — Sat, 26 Dec 2009 11:00:06 +0000

Denver tire recycling. Magnum D’Or Resources Inc. and the city of Denver have teamed up to ecologically dispose of dozens of tons of tires. By mid-December, the program had already disposed of 15,000 pounds of waste tires from illegal tire dumps and tire ditches as wells as scrap tires found throughout the metropolitan area, according to Magnum. The company shreds and processes the tires into a rubber compound used by tire manufactures and retread companies. To find out more about Denver’s tire recycling program, visit magnumresources.net or call 303-536-4581.

Magnum’s FOX Business (Aired on Dec. 12, 2009) Network Clean Technology TV Series

Magnum — Sun, 13 Dec 2009 23:30:09 +0000

FOX BUSINESS NETWORK AIRING:
Magnum’s 21st Century Environmental Clean Technology TV Series

MDOR : 21st Century Environmentally Clean Technology Fox Business from Magnum D'Or Resources, Inc on Vimeo.

**************************************
Video’s Below: We have also uploaded the TV Series on YouTube (see below) however because of its length is has to be in 2 Parts (Part 1 and Part 2).
Please view Part I in full and then view Part II in Full to view Entire TV Series:

Part I –

Part II –

Rubber recycler plans high-value powders for 2010 December 2, 2009 by Emma Ritch, Cleantech Group

Magnum — Mon, 07 Dec 2009 19:00:28 +0000

Rubber Recycler plans high-value powders for 2010
December 2, 2009 – by Emma Ritch, Cleantech Group
View Cleantech Article here: http://cleantech.com/news/5366/rubber-recycler-plans-high-value-po

Magnum Recycling launches operations at its new Colorado tire recycling facility as it awaits new technology from Malaysia’s Sekhar Research Innovations.

Scrap tire recycler Magnum Recycling has started to tackle the pile of 40 million tires at the Hudson, Colo., landfill it acquired last year.

The subsidiary of Fort Lauderdale, Fla.-based Magnum D’Or Resources (OTCBB: MDOR) began sorting and shredding the tires in November in order to produce rubber nuggets and chips that can be used as environmentally friendly substitutes for mulch in playgrounds and gardens. Recycling prevents the harmful environmental effects from improper disposal while displacing the need for virgin rubber.

However, the company’s ambitions rest with higher-value products—namely, rubber powders and custom compounds, Magnum founder and chairman Chad Curtis told the Cleantech Group. Curtis said he expects Magnum to use the shredded tires to produce ultra-fine rubber powder starting at the end of the first quarter of 2010, with custom compounds to follow in the next quarter.

“The operations have started, but the real eye opener is yet to come,” Curtis said.

Magnum already has one small-scale plant in operation in Magog, Quebec, that cleans and shreds scrap tires into nuggets and buffings.

In the first half of 2009, that plant began fulfilling a potential $131 million in orders from National Sales and Supply, also known as Majestic Mulch, for rubber nuggets and buffings made of recycled tires (see Saving the planet, one tire at a time?). The five-year sales agreements allow Magnum to receive payment for up to $131 million in rubber products, although the company can choose to deliver less, Curtis said.

Curtis said selling the recycled nuggets and buffings was a “safety net” that helps produce revenue for the company, which posted $11.3 million in net loss in the quarter ending June 30, 2009.

“We’re taking waste products and putting them out there for a good use; however, that was not our main goal,” Curtis said. “Our goal was never to be in the lower-end marginal markets. We had to work our way up the totem pole.”

The spot price of the rubber products varies, but Curtis estimated nuggets at about $200 a ton, powder at $520 to $820 a ton, and custom compounds even higher.

Magnum also receives payment to take delivery of scrap tires to the Hudson facility, about $0.05 to $0.15 per pound. Curtis said the content of a typical tire is 14 percent natural rubber, 27 percent synthetic rubber, 28 percent carbon black, 15 percent steel and 16 percent fiber. Magnum can recycle, sell or reactivate all the materials, resulting in no waste product, Curtis said.

The appeal of the powder market has also drawn the interest of privately owned Danish tire recycler Genan, which expects to break ground this year on a scrap tire processing plant in Houston, Texas. The plant is the first in the U.S. for Genan, which says it is the world’s largest tire recycler (see Denmark’s Genan to break ground on first US tire recycling plant).

Genan says its highly automated process deconstructs each tire into 67 percent rubber granulate or powder, 18 percent steel, 14 percent textiles and 1 percent waste. The textiles are burned to produce energy.

Venture-backed Lehigh Technologies of Naples, Fla., is also recycling rubber into fine powders at its 100 million pound manufacturing facility (see Rubber, water and waste get investor interest).

Magnum acquired the Hudson site when it purchased Tire Recycling for about $7 million last year. The company has invested about $1 million to upgrade and clean the plant, and expects to spend an additional $5 million on equipment to produce the powder and custom compounds, Curtis said.

Another Magnum D’Or subsidiary, Magnum Engineering International, plans to deliver the equipment to allow Magnum Recycling to turn the shredded tires into a fine, 40-mesh powder, which can be used to make seals, paints, weather stripping, automotive parts and tires.

Curtis expects Magnum to produce 50,000 tons of the rubber powder in the first 12 months after production begins. He said total capacity of the Hudson facility is estimated at 100,000 tons of rubber powder annually.

Magnum has partnered with a Malaysian company on the next step of the process, which uses a surface activator to reactivate the powder, followed by high tech processing aids to produce a custom compound that can be introduced into production lines. The technology was developed by Sekhar Research Innovations (SRI), which began working with Magnum in October 2008.

The compounds could be used to reduce the cost to make rubber products, including tires and radiators hoses. The recycled compound has the potential to save tire manufacturers anywhere from 4 percent to more than 11 percent in raw material costs, Curtis said.

The process is unique because it allows high concentrations of the recycled material to be used in new tires, Curtis said. He cited third-party testing by the Rubber Research Institute of Malaysia that showed the same performance and properties for an original OEM tire and one that used 20 percent of the Magnum/SRI recycled compound.

In addition, the proprietary machinery and processes result in high purity and consistency of the products, Curtis said.

Magnum has the exclusive license to SRI’s technology for North America and first right of refusal for other markets, Curtis said, noting that North America was the company’s only focus for the short term.

“It’s hard for one to comprehend how big the market is here,” said Curtis, who controls more than 60 percent of the company.
Copyright © 2009 Cleantech Group LLC. All rights reserved, including right of redistribution.

VIDEO: Shredding Feedstock (tires) at Magnum’s Hudson Colorado Tire Landfill Facility

Magnum — Mon, 07 Dec 2009 05:00:43 +0000

Here is a recent new pit dug by Magnum Recycling USA at the Hudson Colorado facility. Magnum is shredding its tires at the landfill, producing a 1 to 2 inch chip (nugget), and stockpiling this feedstock to be used for its next process, “The production of ultra fine rubber powders.” These ultra fine powders will then be used to produce the “Magnum SRI Next Generation Custom Compounds.”

NCBR Article on Magnum: Piles of tires ready to be recycled into new products By Kristen Tatti

Magnum — Fri, 20 Nov 2009 11:00:43 +0000

You can view the NCBR Magnum article at: http://www.ncbr.com/article.asp?id=103098

NCBR Article

Piles of tires ready to be recycled into new products
By Kristen Tatti

November 20, 2009 –
HUDSON – On 65 acres just north of Hudson, everyone’s trash has become Florida-based Magnum D’Or Resources Inc.’s treasure.

The company purchased a tens-of-millions-tire-strong monofill out of bankruptcy this summer. It plans to convert the existing inventory into proprietary, high-grade composite materials, employing around 100 at full capacity.

The Weld County property’s 63 pits of tires, measuring 100 feet by 30 feet and as much as 45 feet deep, have been accumulating since the 1970s, for a total of between 30 million and 55 million tires ranging from passenger to heavy equipment sizes.

Publicly traded Magnum began discussions with the previous owner/operator Tire Recycling Inc. more than a year ago.

“We’ve always been interested in having an operation in the (United) States,” said Magnum President and CEO Joseph Glusic. The company is currently operating a much smaller facility in Canada, more of a research and development center.

Initially, the company looked at the Hudson facility as a source of raw material, and signed a letter of intent to eventually purchase the entire site in January. In April, while in due diligence, Magnum found out Tire Recycling had been in bankruptcy since 2007.

Despite having to start negotiations all over, by August the company was able to purchase the assets – including 120 acres, all the tires and equipment – from the bankruptcy trustee for $6.5 million. Already, Magnum has spent $1 million on cleanup of the site and new equipment, with another $6 million on order.

Once the equipment was in place and the title cleared, Magnum still needed necessary permits and approvals before it could start operations.

“We were all aware of what it would take to get it done,” Glusic said, adding that they’ve had about 90 percent cooperation from the multiple agencies and organizations involved.

The company received its final approvals from Weld County on Nov. 9 and was up and running with its first shredder within days.

Multiphase process

The all-electric shredder, capable of shredding up to 15 tons of tires per hour, is the first phase of Magnum’s process. It creates tire chunks that are further processed by other equipment, anticipated to be operating by February. The rubber can be ground into a fine powder, and steel and synthetic fibers removed by magnets and wind-separating equipment.

The powder itself is used to make artificial turf and playground flooring. Even the less-processed tire chunks can be sold to the landscaping market. Magnum currently has a five-year, $91.2 million contract for the production of rubber buffings and a five-year $40 million contract for the production of rubber nuggets, all based on its Canadian production.

The company plans to add even more value to the reconstituted tires. Magnum partnered with Sekhar Research Innovations of Malaysia to develop proprietary compounds with myriad applications. SRI was founded by Tan Sri Dr. B.C. Sekhar – credited with modernizing Malaysia’s natural rubber industry. The company continued innovating through Sekhar’s son Gopinath Sekhar.

In the automotive industry alone, the compunds can form bumpers, dashboards, window seals – basically anything that is molded. Glusic adds that in addition to being a recycled product, the compounds should generally be 20 percent to 40 percent cheaper than traditional rubber or plastic, especially as commodity prices rise.

The company doesn’t have any final contracts yet for the refined powder products. Bryan Brammer, corporate director of business development, explained that customers want to see that the products can be made reliably at commercial scale.

“We’ll have a cutting-edge recycling operation,” Brammer said. He admits that the shredding and chopping operations aren’t “rocket science” since most of the equipment has been around for some time and there are many competitors in the field. He said that the exciting prospect lies in the proprietary compounds and related processes that will lead to limitless end uses.

Within seven years, the company plans to have worked through its existing inventory in Hudson, and hopes to bring in 4 million to 5 million additional tires per year. The company could employ up to 100 employees at full production. Once the first line is completely up and running, there will be about 20 employees, up from the eight there now.

Not affected by subsidy cuts

The company reported an $11.3 million net loss for the quarter that ended on June 30. Now with the multiple revenue sources, Glusic feels that Magnum will be profitable without government subsidies, though no one would turn one down.

“It would be nice if we were eligible for some,” he said. “But we don’t need it to succeed.”

That’s fortunate, considering that Colorado’s small tire-recycling subsidy has been eliminated as part of the budget juggling process. The cut could impact some of the long-time recycling facilities in the state, but Magnum will not be affected.

On Nov. 2, District 65 Rep. Jerry Sonnenberg paid a visit to the facility.

“I went there to learn about the new owners and their vision about what would happen with the tires,” he said. “I’m not sure how it became such a big dumping ground.”

Sonnenberg said that he is encouraged by the prospect of the tires being cleaned up and turned into useful products. He doesn’t anticipate any big hurdles for the facility’s business plan.

“I think it could be the ultimate model of how we can deal with waste tires,” Sonnenberg said.

That’s the hope for Magnum, which is considering consulting and licensing for other facilities around the world. For now, the company is focused on getting into commercial scale production and proving to doubters that the eyesore will finally be cleaned up.

“We think we’re getting a bad rap in some regards,” Glusic said, referring to the history of the site and the company’s overall business model. “The point is we can do it, and we will do it.”