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CMKX - May 10 - 05 D-Day - The next chapter
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[QUOTE]Originally posted by legaleagle: [QB] georgeburns God of Diamonds member is offline Wherever there is confusion there is profit. Gender: Posts: 6866 LONG UPDATE « Thread started on: Today at 4:50pm » -------------------------------------------------------------------------------- CDLIC is at the hearing and just passed me this information: Hearing started as scheduled at 9:30am. SEC on left, Stoecklein and Owners group on right. Hakala is doing all presenting and cross cross examining for the SEC. The courtroom is full but apparently, everyone could fit. They brought in chairs for some. There about 52 people there not including the lawyers. About 8 in staff behind the lawyers. SEC opened with their case. Stated CMKX has failed to file, wont file, donft have the means to file, and donft intend to file. Because of that, the SEC Division of enforcement wants CMKXfs registration revoked. Stoecklein countered that we are trying to file, will file, and want to file. Frizzell started to bring up the NSS topic. The judge stated that she had already ruled that NSS wasnft to be spoken about. Both the SEC and CMKX side were both confused. The judge stated that she had ruled but apparently her staff didnft fax it out. She stated that she will hear about NSS as it comes up through the trial. SEC First Witness: Auditor hired by CMKX in January. (Levine, I think) Apparently the SECfs purpose in bringing the auditor was to show that CMKX didnft want to file. The auditor was hired in January and hadnft received any documents from CMKX to work with. 100,000 dollars retainer to hire auditor. The auditor resigned the day before the hearing. CMKX cross of auditor: Tried to show that the auditor was recommended by a major stockholder of CMKX that apparently against CMKX now. They found it odd that they resigned the day before the trial and are wondering if there are ulterior motives on the part of the Auditor. SEC Second Witness: Glenn Wall (SEC IT guy) was wearing a bow-tie and glasses. Submitted a CD of the Green Baron webcast with CMKX as evidence into the hearing. Brought in a chart showing the massive volume increase after the GB Webcast. Tried to indicate that the volume was caused by a Green Baron pump. (pump word was not used). 250,000 was spent on Edwards and Angells Roger Glenn. Glenn was asked for all his work when they were done with him. Glenn produced 1 piece of paper to give to the company. Apparently Glenn wasnft so great. Over 1 million dollars have been spent on filing so far. CMKX keeps getting screwed by auditing and accounting companies. Judge doesnft seem to know about NSS or what it is, but maybe she does. Urban has apparently lent large sums of money to the company. This looks good as it show he believes in the company. Another witness: Lady hired by Stoecklein to do the accounting for CMKX. SEC tried to show that she had not received any information from CMKX and that CMKX was dragging their feet. Lady said no, I have received information from CMKX. I have received a big binder of cancelled checks, I have received contracts showing where all the stock has gone, the TAfs records. SEC crossed asking her if she had received various other documents, she said no, but she is expecting it. It came up that the company is run out of Urbanfs house. The judge said that that was strange. The SEC jumped on the fact that Urbanfs wife had signed or cosigned some of the checks. They asked if she was an officer of the companyc Said Urban was ill for a period of time and she was his wife and thatfs what wifes do. She wasnft cross examined by the CMKM team because she is a witness of ours later. The donft want the witnesses biased so they must wait outside the courtroom till after they testify at which time they can sit in on the trial. Maheu, Dhonau, Urban. They are waiting on Rendall Williams but he has been delayed. CDLIC guessing first CMKX witness after lunch will be Maheu. Rumor: Head of the SEC is present. Unbelievable amount of money spent on attorneys and such. Roger Glenn turning out to be a bad guy. Over the past year over 1.25 million has been spent on one accountant and almost nothing received. Talked about the JADE collection. Company said that transaction was reversed. SEC trying to bring the Jade thing. Stoecklein accountant is showing that the Jade thing is cancelled and reversed and that it doesnft matter. Waiting on final documentation to cancel the Jade collection deal on the books. (I am not responsible for errors above. I am not responsible for translation errors above. CDLIC spoke pig latin the whole time so it was confusing. Remember you are getting this from me, who heard it on the phone from a guy in the court room. This is third party information.) [/QB][/QUOTE]
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