quote:Originally posted by WWJD-thru-me: Goldiestox-Definitely when new members come to warn us about this being a scam the price is always ready to go UP!!! They are the buy signal. We should thank them. IMO-Debi
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Good Morning All-This is the address to a very informative post on the Naked Short Selling problem. This is the most in depth article on the subject I have ever seen and it is well worth reading. In the opening it almost sounds like he is bashing any attempts to overcome the problem. I think what he is doing is showing the depth of the problem and as much as I have been aware that this goes on, I am amazed at how big the problem really is and the complicity of brokers and the SEC. I hope CMKX is the company to take care of the naked shorts. I am glad we have a lawyer with the background that we do. I really think this is the only real problem this company needs to overcome. I have no doubt that the mineral rights they have are good. I UC has done a good job of getting funding for this company whether it is from a large number of shares or outside investors. Now that we are the transfer agent the audit may go quicker. The new agent had said by July 8. We may make that date still with UC. We will know very soon. GLTA-IMO-Debi http://www.stockhouse.ca/bullboards/viewmessage.asp?no=8102272&t=0&all=0&StartDir=O&StartID=8102785&TableID=0
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quote:Originally posted by Wallace#1: Some guy named Noahltl, is trying to pull another cop stunt! Go ahead, email Desormeau. If you look at my post you will see that everything was put in question form? Further, it should be obvious to a retired police detective what is conveyed as opinion vs fact. Are you trying to use police tactics such as threats, steel toed shoes in the ribs, nightsticks, flashlights? We see that kind of thing nightly on the news. Is that how you got confessions? How many innocent people have been imprisoned with those tactics? Would you want to get your little gun out and shoot me in the back and say you thought I was armed? In my opinion you have demonstrated a typical "bad cop" personality as well as a "civil servant mentality". BULLY???
Learn something about companies and the market!!
[This message has been edited by Wallace#1 (edited July 05, 2004).]
Wallace: " Are all of you people overlooking the FACT that DAVID DESORMEAU has been charged with STOCK FRAUD and that he is also the CHIEF FINANCIAL OFFICER of CMKX????? " You stated that it was FACT that Desmoreau has been charged with Stock Fraud. That is criminal libel whether you put a question mark at the end or not. It's still criminal libel whether you attack me personally or not. It's apparent that you have a liberal hatred of policemen, so please, call one of your fellow bashers when someone is breaking into your home. You know nothing of my service to my community, but you choose to attack me for it, just because I won't tolerate your libeling of a businessman who is dependent, I am sure, on keeping a good professional name. And you do so maliciously, because a quick read of the Kentucky complaint shows that there is no indication of Stock Fraud. It doesn't allege that he did anything wrong personally, you just added all of the Stock Fraud thing, in order to make your point. And all of it falls on deaf ears on this thread.
You are an angry person Wallace. But you and I both know that you are just angry at yourself for getting out of this stock too early.
Your reply to this will be a "freebie", I'm going back to ignoring your posts, as most here do.
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Hi again, I really wish everyone would stop posting on the CMKX confirmed to be a fraud thread. That was so obviously started by a basher. If you really want to have a bash CMKX thread at the top keep posting there. I will be avoiding these boards while the bashers have at it. There are too many places to get good information. The swill that the bashers are serving is not DD. And the 'hype' that is on these boards is usually labeled In my opinion, or I think this is what may happen and has it's basis in news reports put out by the company. The bashing is posted as fact. It lacks news from any source to add credibility. If someone wants to add credible negative comments or opinions based on DD which is supplied-Welcome aboard. But the steady drone of negativity for the purpse of being negative is depressing to read. It takes the same amount of energy to believe the best. The company has demonstrated that it is doing what it said it is doing. We will get an announcement about the former TA, probably when we get the share count. For all we know he may be going to verify the count. Certainly no one else has the vested interest in CMKS succeeding that UC has. The flip side is also true. No one has a more vested interest in CMKX failing than the MM's, their clients and the brokerage houses which may be behind it. It is naive to think that some of our newer buddies are not working for them. To come over and start a thread with a bash title says a lot. GLTA-IMO-DD-Debi
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It has already exploded, just not in the pps yet. Very soon. We have two kimberlite samples already back, we need the PR on that. We also started drilling wholes over a week ago at a new location. Samples are already being sent.
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I still don`t understand certain bashers posts (worm farm accountant,or whatever that was) nice try!
so the question? is : people with nothing better to do running across a cmkx board? i doubt it. so, what are their motives people who lost all their money trading,trying to warn others? it would be the last thing i would want to spend my time with!
well we all know that there is such a thing as paid promoters and paid bashers.
since this is not a nasdaq quoted stock that can be shorted by traders why bash a stock that that`s trading at scam levels
THIS STOCK is trading at a level as if all the 500 billion authorised shares would have been issued divide this by a superlow intrinsic value of the 1.4 million acres of mineable land
and yes we would come out with a higher price per share than the current price
so the question remains:
are there paid bashers? there would be if there is a naked short issue on the behalf of the market maker`s
are there paid pumper`s who cares it`s in all our interest for the p/s to rise besides that i don`t think that`s the case look at this guy joel on ibc radio. for moment i thought he got actually paid to boost this company (saying what a tremendous value this company is since he is a diamond expert). The poor guy fell prey to apparently false information about the 400 b. o/s count which has not been confirmed by first global since they didn`t audit and pacific didn`t either. so we can wonder whose scheme it was
CONCLUSION: PAID PUMPER`S it doesn`t look like it PAID BASHER`S there seems to be certain schemes,people with bad spelling,continous msg.board post`s that don`t make to much sense,people that hang around for no apparent reason!
I WOULD SAY LET`S HANG ON TO OUR SHARES WE DIDN`T PAY TO MUCH FOR THEM SOMEBODY SEEMS TO WANT THEM OR DID WE SEE A DROP IN VOLUME OR PRICE LATELY. I WOULD NOT WANT TO CHASE WHEN THE NEWS HIT WE ALL KNOW HOW HARD THAT WOULD BE AND IN THE CASE OF A TENDER OFFER FORGET ABOUT IT!
P.S.: the only possible scam would be if they don`t own the mining right`s i haven`t seen that posted as of yet but i don`t want to give any ideas away
quote:Originally posted by emunahstock: It has already exploded, just not in the pps yet. Very soon. We have two kimberlite samples already back, we need the PR on that. We also started drilling wholes over a week ago at a new location. Samples are already being sent.
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Good post about motives of bashers and their employers. Look at this SEC filing of JEFF. I thought is was fascinating to read JEFF's financials-do they acturally sell anything they own? Number of short shares is amazing!!!!-IMO http://www.stockhouse.ca/bullboards/viewmessage.asp?no=8102272&t=0&all=0&StartDir=O&StartID=8102785&TableID=0 --------------------------------------------- Liked these 2 RB posts from Sterlings class message 359393 NITE & CRWN next penny shares --------------------------------------------- message 359384 NITE DOWN 5%>>>>TIMBERRRRRRRRRRRRRRRRRRRRRRRRRRRRR!!!!!!IMO
Closer to down 6%+ now. Perhaps the bashers should get to work propping up this stock as pumpers. Either that or they need to do a better job of helping to shake out shares. I don't know many or any who are selling at this price. It must be frustrating, if they drop the price we all will want more shares, and if they raise it we will all want more shares. Catch 22. -IMO-DD-GLTA-Debi --------------------------------------------- Moneypenny? I think it was you that asked if I changed my mind about somone being a gasher. rchaud started the bash thread-I think it is clear he is a basher. There are a few on there-I know you mean do I think Wallace is a basher. I still say no even though I admit he acts like one. He just hates the stock and enjoys being scrappy. I can relate in this way I am a bit of a scrapper myself sometimes. However, I am long and strong on CMKX and expect to make big bucks on it. I think the biggest hurdle the company has is the Naked shorters. It is obvious to me that that is what is going on. We just agree to disagree and keep it friendly. IMO-Debi
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This is the second part of the artical in the link I posted on Naked Short Selling. I think that we all need to understand the gravity of the situation. This affects every stock we have IMO. I am so freaked out by it I drastically reduced my trading in the OTC. I am not panic selling my shares but I am not even averaging down unless I think the stock will have sufficient momentum to sell at break even or profit. Except for CMKX. I think CMKX has the most promise of doing something about the exteme Naked Short position it is rumored to have. This article says sometimes the naked short is 3 or 4 times the Outstanding Share count. That would be a riot if there were 2 Trillion shares out. I really am chomping at the bit for news. Did you ever even count to a million as a kid? A trillion is an awful lot of shares to track down. And the complexity of how these brokers account for shares must make this a labor intensive endeavor. No wonder UC took this in house. We may even have a fleet of lawyers, interns, and other interested parties doing the accounting. I do think this could be the impetus for the change that is needed. GLTA-DD-IMO-Debi --------------------------------------------- But while DTCC needs to be a major focus of your enforcement and prosecutions, please also realize that naked short selling occurs in places other than the DTCC. We see plenty of "pairing off" wherein two brokerage firms will mutually agree not to demand the delivery of shares bought and sold between the two firms. They form their own little "no need to deliver" duet. The phenomenon known as "desking" is also very prominent especially when buy orders come from offshore. "Desking" is a form of naked short selling in which the broker/dealer of the buyer takes the buyer's money and pockets it. They then send out a purchase confirmation to the would be buyer stating that his order got filled. The trade never did get cleared or settled and of course there was no delivery. When the company being invested in goes bankrupt then the host broker/dealer just keeps the money and nobody suspects a thing.
In a nutshell, the current system for clearance, settlement, and delivery in place at the DTCC allow fraudsters to sell nonexistent entities for literally billions of dollars. The Automated Stock Borrow Program at the DTCC converts these nonexistent entities outside the DTCC into "Counterfeit Electronic Book Entries" (CEBEs) inside the DTCC via "the borrow" which creates "good delivery" which, in turn, allows the trade to "clear and settle" (C and S). C and S allows the DTCC to earn fees, its participants to earn commissions, and its participating market makers to earn "mark-ups". The CEBEs can then be sold to anybody because they are commingled with real shares and until all real shares have been removed from the DTCC via share registration programs any sale is PRESUMED to be that of a real share.
The actual counterfeiting "printing press" is the Automated Stock Borrow Program, which converts a nonexistent entity into a "CEBE". Once within the system, CEBEs can be recognized EITHER as a "Failed delivery" OR as a "Loan" cleverly made with the NSCC acting in the intermediary role as both the "nominal" lender and the "nominal" borrower. The "actual" lending b/d is handsomely compensated for loaning out his client's shares to "the cause" by receiving the marked to market value of the securities being loaned, which is preferable to a stock certificate or electronic entry gathering dust.
The SEC's allowing market makers to sell entities that don't exist to micro cap investors makes no legal sense at all. The intention to inject liquidity is honorable but allowing people to do it without borrowing genuine "shares/package of rights" is tantamount to endorsing counterfeiting especially when every single shareholder of a company is victimized by the sale of nonexistent entities masquerading as shares. A public corporation cannot be forced by the SEC to issue new shares or to amend its Articles of Incorporation to allow the authorization of new shares just to keep the market makers happy.
The undermining effect that naked short selling has upon the '33 and '34 Acts, Corporate Articles of Incorporation and By-laws, and the Corporate Statutes of the various states domiciling these corporations is incredible and quite frankly the SEC does not have the mandate to allow policies that break these laws or all of the common laws that are being broken. Think for a moment, what is the "par value" of the entities being sold? How should an auditor account for them on the "Shareholder Equity" portion of a balance sheet? Why don't they show up on a prospectus? Should issuers file an 8-K warning investors that their share structure is a total mess-not as a result of corporate malfeasance but as a result of securities industry fraud and regulator indifference? Should auditors be sued for not detecting these massive imbalances or not addressing them in a footnote to audited financials?
We warn you not to be fooled by untrue allegation that the Automated Stock Borrow Program at the DTCC has anything to do with a legitimate "borrow". In legitimate short selling, the "borrow" or the making of an affirmative determination in writing of the "borrowability" of the shares/"packages of rights" comes first and later comes the sale of the borrowed securities. In the fraud known as "naked short selling", the sale of a nonexistent entity is done first and then an illegitimate "borrow" is done to quickly convert the nonexistent entity sold into a "counterfeit electronic book entry" suitable for hiding at the DTCC by commingling it with real shares in an anonymous pooling format.
This illegitimate "borrow" is not even a distant cousin of a legitimate borrow used in legal short selling. Not only did it come out of sequence but at the DTCC the same "share" can be loaned out in many different directions at the same time because it is not sequestered off to the side in a separate account, as it should be, until the loan is repaid. That's why these naked short positions can become 300 or 400% the size of the issued and outstanding number of shares. Please note also that these nonexistent shares are not "depositary receipts" because there is no real certificate in existence justifying its validity. Nor are these nonexistent entities derivative instruments. Financial derivative instruments are "derived" from a valid security that really exists. They "resemble" a legitimate share just enough to allow an investor to lay down good money for it.
Please note also the nature of those "real" shares being loaned out in various different directions at the same time. U.S. securities laws dictate that shares can only be loaned out with the permission of the owner, as is typically contained in a margin agreement. Retirement plan accounts subject to the 1974 ERISA Act, fully paid for securities in cash accounts, and "excess" margin securities are expressly forbidden from being loaned out. The shares of the companies usually falling victim to these "bear raids" are typically non-marginable securities trading under $1 yet the supply of shares being loaned out seems to be unlimited and shareholders holding these shares in qualified retirement plans can't even get delivery of demanded certificates. Are the broker/dealers hiding behind the notion that since all of the shares in "street form" are technically held in the name of "CEDE and Co., which is the nominee of the DTCC, then TECHNICALLY the DTCC participants are the "nominal/legal" owners and they can do anything they want with their possession? What happened to the parameters of Rule 15c3-3 forbidding the loaning out of fully paid for securities and excess margin securities?
In reviewing some of the comments submitted to the SEC, we notice that some proponents of naked short selling raise the issue that without naked short selling "pump and dumpers" will have a field day. This argument has been used for decades to justify fraudulent naked short selling but it lacks in substance when a deeper analysis of naked short selling is done.
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Wallace my vocabulary is only limited when you post. I am sure people have said that to you time and time again. You give off that energy of someone who likes to suck others energy from them.
CUNY isn't a great school system? It graduated our Sec. of State...
John Jay has graduated many many FBI, DoD, N.Y.P.D. Officers (rank and file), FDNY Officers (rank and file) as well as being heavily connected to the New York City Government. So yes John Jay is a great school since we helped head up the Catholic Church Abuse Scandal and reported on what happened systematically in the last four to five decades.
Our school has one of the best Forensic Science and Psychology programs on the East Coast. Every single law enforment agency in the country attends our Job Fairs.
Not to mention many many government agencies.
Our professors are regulary on Fox News as well as MSNBC and CNN. In fact durring the Beltway Sniper Case, a John Jay professor worked on that with coordinating government agencies.
Did I mention John Jay has connections to the UN and many many world agencies such as the Hauge? (Do you even know what that is Wallace?)
Did you know John Jay helps sponsoer International Criminal Justice meetings between international Policing organizations such as Interpol? Nope I bet you didn't.
So be a little bitch and disgrace my School but in the end you are the one who is posting crap on a message board where 2/3's of the people think you are a grade 1 class act as shole. The other 1/3 doesn't listen to you anyways.
Again, you've attacked me, Pharm and SP as well as trading whiz and others. YOU MY DEAR ARE NEED TO GO CLEAN THAT STANK HOLE OF YOURS. We at all stocks will glady pay for your douche...
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JB, what are you trying to say? it's hard to read you sometimes! LMAO!
You're wasting your breath though (or the skin from the tips of your fingers)... he's never going to listen to anyone, .. they're all alike... remind you of anyone? or naaa'aaah?...
Of course, even though he saw fit to try casting negative light on your school (see how bashing infiltrates other facets, thus identifying the basher!?), I noticed that he did not offer up the name of the institution that edumacated his sorry a$$... although I doubt one would wave the banner for Cracker Jack U!.... either that, or they've threatened him with legal action if he ever reveals their name!
That was an excellent post (12:24) you made about naked short selling.
Now that guy Noahltl thinks he is a lawyer? This whole message board is a forum. Some detective work! I have seen more posts on ALL the CMKS related threads made by a pill popping pharmacist and an incompetent x-cop than those made by anyone else. Check it out! Add them up on ALL the threads. On just that one thread started by osubucks30, pharmdman had about 15, noahltl had about 7, JBCak47 had about 7 and rsnws had about 7 and other pumpers had a combined total of over 30. Osubucks had about 9. I am sure someone will count mine...please do. What was that someone with a "basher book" said about many posts?
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Wallace for the record, I made the threadof The Iraqi Dinar... that has caused interest, at least it was SOMETHING other than me screaming 'scam'.
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Lesson 7: Bashers play on your lack of patience. You have held a stock for a while. You knew it will be a big stock someday, but the BASHER CAN GET TO YOU BECAUSE YOU ARE TIRED OF WAITING FOR YOUR GAIN. That's when the Basher is best. You are tired. You have forgotten the goal for the stock was to hold it for one year. The Basher is bothersome, so you dump it on a bad day. Some others also dump. Then you get mad for your loss and return to let everyone know how mad you are. Then you turn into a semi-Basher as well. THE BASHER HAS WON, AND GAINED A NEW ALLY - YOU!
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Rule 27. Bait the Longs into personal debates putting their focus/efforts on you and not the stock or facts. Divert their attention from facts. http://messageboardfools.com/bashers.htm
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Waiting is a SMALL price to pay for such a possible UPSIDE POTENTIAL. Noah I agree with you. I find that all this speculation makes me (and I'm sure others as well) a little antsy. Too many theories, bashing, pumping whatever you want to call it. In the end, what matters is the PR that will be released. Yes it may be a great PR, what we've been waiting for. Yes, it may also be a PR saying that we've been scammed. But, for now, none of us know. What we know is what has been released in PRs. 1. 1.9 million acres in kimberlite rich lands 2. Roger Glenn acting on behalf of CMKX. If you own CMKX, he's acting in YOUR behalf. He is not representing URBAN, he's representing CMKX. 3. Updated surveying of the land is completed and there are HUNDREDS of anomolies id'd. Enough to be continually drilling! (that's a lot)
Things that you shouldn't let get into your head: 1. O/S A/S - because speculation won't mean a damn thing in the end when the real # comes out. Even if you did know this # was high, you still would not be wise to sell just because there will continually be new drilling and drill results. (remember, hundreds of anomolies) 2. Whether or not Urban is scamming- he could be, or he could not. Surely you didn't invest more than you can lose so the upside is still out-weighing this chance. ASK YOURSELF, "what kind of big-name lawyer will put this type of blemish on his record, if he knew it was a scam?"
WAIT WAIT WAIT! BE PATIENT. YOU HAVE TO GIVE THE COMPANY SOME TIME TO SORT THINGS OUT AND TRUST THAT URBAN WANTS MONEY. URBAN WANTS MONEY. HE WILL MAKE MORE MONEY IF THE PPS GOES UP VS. SCAMMING SHAREHOLDERS. TRUSH THAT HE WANTS MONEY! WE WILL MAKE OURS AS A BY-PRODUCT OF HIM MAKING HIS! Patience...
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I think the biggest mystery about today and was never addressed by anyone on this board is this, Debi (wwjd) How did you get out of jury duty?
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Upside wrote: Wow, it's pretty ugly around here today. Allstocks is quickly turning into Raging Bulls mean spirited step child. --------------------------------------------- And about as welcome as a ******* at a family reunion as my dear departed Dad used to say. --------------------------------------------- Here is a post I liked today:
Re: No PR = ZERO Credibility...!! « Reply #24 on: Today at 11:22am »
-------------------------------------------------------------------------------- Reasons why I do not mind waiting...
I have faith in the process and I know that the things they are doing will take time. Mr. Glenn has put a gag request on the company short term... If I were him, I think I would have done the same.
I do not mind letting the MMs sweat a few weeks... I am sure they are not in a conspiracy together and each does not know how far in the hole the the others are in... wish I could get an idea how anxious each of them is.
I have friends and family that I would like to pick up a few shares before this stock goes skyward.
C'mon, what can happen to kill this thing? mis-management?.... no, Roger Glenn and co. would have bailed... find out UC does not have the mineral rights to 1.4 mil acres? no... thats been proven.... no minerals incl useable diamonds in the area?.... nearly impossible....
So what are you worried about...? rumors and bashing only affect a pink sheet stock short term if it is a real well-run company... and we have no evidence to the contrary. The info and DD we have is solid verified information and because I am in this long... I can have patience. --------------------------------------------- I would like a PR with all the share count information and the results of all the core samples. I would like to know all the various partnerships we have worked out. But until we have the Naked Share count is tallied and verified the outstanding share count is immaterial. This stock is being held hostage by the very people who are supposed to be creating a liquid market for it. It is in their financial best interest for the stock to stay still (or tank if possible). Until some event occurs which forces the MM's to cover any news we get would be wasted. The stock could and probably would just sit there and then the bashers would say-see diamonds the size of the Hope Diamond and all the colors of the rainbow couldn't move that stock. And they would be right. Because it is not going to move until the MM's are forced to cover. Based on the article I posted today it is possible that the Naked Share count is a Trillion or Two. It will take time to count those shares. I am confident that this is being worked on right now. I am still long and strong on this stock. IMO-GLTA-DD-Debi
quote:Originally posted by finky4x2: I think the biggest mystery about today and was never addressed by anyone on this board is this, Debi (wwjd) How did you get out of jury duty?
She posted earlier that it's tomorrow and not today.
------------------ FurrySound -DD-GLTA-Unless I've quoted a source, I know not what I speak of.
Posted by: zeninvestor32 In reply to: None Date:7/6/2004 3:28:01 PM Post #of 46601
MY THOUGHTS ON THE TA SITUATION.
I am in complete agreement with Pedro20040 on the RB CMKX thread (the poor guy only posts there and is in the middle of basher heaven but his posts have always impressed me). I believe Roger will have an independent CPA audit the share count with a cerification before putting a PR out with this share count. I believe they will do this and not tell ANYONE who the CPA is to avoid any whiff of a problem this time around. Roger was a CPA with Deloitte and Touche before he was an attorney. He also has taken companies public. He is not the type IMO to handle this any way except the way that ensures the utmost in the integrity of the end results. Do I know he is doing this? No, I have no idea. But a former CPA at a Big 5 accounting firm and a top, top lawyer specializing in SEC filings hardly seems like the kind of guy to complete something like this in anything less than the most professional, meaningful way.
I'm personally of the opinion that Urban has tried to run this show and has slipped and stumbled several times. First he tried to pull off the "diamondiferous" release which backfired due to UCA/KPG. Then I believe he probably wanted to go with Pacific perhaps because of a past connection to Brian there (have heard secondhand stories to that effect) and when THAT bombed, I personally believe that Urban is likely in "shut up and let Roger handle it" mode right now. This would be GOOD if it is true.
I believe when we get the numbers, people will be glad they put their faith in Roger. Just my opinion. Good luck to us all.
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Again, you've attacked me, Pharm and SP as well as trading whiz and others. YOU MY DEAR ARE NEED TO GO CLEAN THAT STANK HOLE OF YOURS. We at all stocks will glady pay for your douche...
