posted
Well I sent my complaint, but when I tried to say that I should have received 9,600,000 shares of a stock dividend and also 9,600,000 shares of the spin off it kept saying invalid so I put 1 share in the box for number of shares in question and then it the area for comments I said that it was 9,600,000 shares not one, but that I kept getting an invalid sign when I would try to put in the correct amount.
Posts: 580 | Registered: Oct 2003
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posted
SG I use Ameritrade also and have owned shares since 2000 in CMKI. When all this happened in Sept 03 many people were coming on board and daytrading this stock. If you go back & read when & how the dividend was paid it was a little confusing, but I took my position several days in advance of dividend date and held till it showed up in my account. NO PROBLEM Still have those shares logged in at NO VALUE. VAN
Posts: 1424 | From: Peoria, IL. USA | Registered: Oct 2003
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posted
I once read on the good olde CMKX message board... Someone asked Melvin what was to become of their CMKI shares? His reply was that info. was to come on that in a upcoming P/R.
Posts: 2634 | From: The highway | Registered: Feb 2004
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posted
HIGHWAY This is really old data and probably just confuses the current situation. In any case anyone (and there are several of us) who owned CMKI, went thru several symbol changes which has nothing to do with PR. It actually happened as fact as legal proceedings in the corporate environment. VAN
Posts: 1424 | From: Peoria, IL. USA | Registered: Oct 2003
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posted
RJR / NOAH My sources say they must come up with last two years financials. Seems that encompasses the recents posts. It also will provides us with "VALUE" VAN
Posts: 1424 | From: Peoria, IL. USA | Registered: Oct 2003
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posted
Have any of you ever checked out a company (apparently a Canadian mining company) named Petro Plus? It appears that Urban Casavant was once the Pres/CEO and left the company (rather quickly from what I can determine). I got the distinct impression that some of the same things that happened there are almost identical to what is happening with CMKX. It was suggested that Casavant was shorting the stock while it was being hyped. It was also suggested that it was a scam. I found a bit of information on Google. Put in Petro Plus, Urban Casavant.
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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posted
Different from a diamond mining co.? Square footage?
I am talking about what happened while Casavant was Pres/CEO. Similar releases. Similar unknowns. Similar hype, speculation and rumors. All during Casavant's command from Nov 95 to Oct 96. That is what should be of concern. That is worth a big question mark!
Business Wire 6/24/96:
Claimstaker Resources and Petro Plus - Diamond Drilling Program Contact: Urban Casavant
[This message has been edited by Wallace#1 (edited July 11, 2004).]
quote:xINSIGHTx had a great dd post. According to a certain SEC ruling, to remain on the pinks you have to file a certain form but to file the form you have to have less than 300 shareholders or some other requirement.
You have to file this thing for two SUCCESSIVE years. CMKX last filed July 22, 2003 SO they MUST file another form by July 22, 2004
Seems it is once a year for the first two years.
Posts: 279 | From: Neodesha Ks USA | Registered: Jun 2004
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posted
This is interesting to me!! Are Debeers trying to get into someones good books before they buy someone out??
De Beers set for U.S. return-paper Sunday July 11, 6:45 pm ET
LONDON, July 11 (Reuters) - Diamond giant De Beers, part-owned by Anglo American (London:AAL.L - News; AGLJ.J), is set to return to the U.S. market after agreeing to plead guilty to 10-year-old price-fixing charges, the Financial Times reported on Sunday. ADVERTISEMENT
Under an agreement reached with U.S. Department of Justice lawyers, De Beers will pay a fine of $10 million to settle charges that it conspired with General Electric (NYSE:GE - News) to fix the prices of industrial diamonds, the Financial Times website reported, citing people familiar with the talks.
The case is scheduled to be heard on Tuesday in Columbus, Ohio.
GE was cleared of the price-fixing charges but papers were never served against De Beers because it had no legal presence in the United States, the newspaper said.
De Beers currently operates in the U.S., the world's biggest market for diamonds, via intermediaries.
quote:Originally posted by COACHPHILM63: First let me explain that Iam long on cmkx and I first bought in July 2003. I have kept 100% of my shares and splits and spin off shares. I can understand everyones frustration with low pps. But friends believe this alot. If you think for a moment that a MM would short this stock, you are not using common sense. Think for a moment what it takes to purchase a Pink sheet stock? If you use a Major brockrage firm, and had a unlimited amount of funds WHY would you risk so much to short a Pink sheet. You would'nt. You would stay on the big board and short where all your transaction are real time. Enclosed is a link of a very good piece. read it, than ask if you had millions, which board would you risk everything!
My friends please base this company on the bringing in the diamonds and not the covering of "shorts" to raise the pps. Diamonds and ONLY diamonds( and some minerals) will raise the pps...
"The Truth About Market Makers
I am new to this CMKM stuff. I found out about this company a few weeks ago. When my friend first told me about it. I laughed internally thinking my friend was throwing his money away at .0001-cent stock. He is rich though, so why not drop some cash on an expensive lottery ticket. There are many theories out there about why the stock has moved and where it will go. After reading all the ridiculous theories about mm's and 1.4 trillion shares short, I have to respond to end the brutality.
As a former market maker and a member of the NASD let me divulge a few details about what MMs do.
Before we go there let me assure you there are no institutional investor's in pink sheets stocks. Not hedge funds and definitely NOT MUTUAL FUNDS. They have no reason to throw there money in what could be a "pump and dump" scheme. The beauty of the pink sheets is there are no real rules and therefore any company can be anything it wants.
First, no mm on earth will ever short a .0001-cent stock. Do you know why? BECAUSE THEY CANNOT MAKE ANY MONEY ON IT! Why? Think about it. As a market maker, would you risk an endless amount of cash in an attempt to make a profit on a .0001-cent stock? What if this CMKM thing is true and they are sitting on a real pocket of diamonds? Why do that and why take that risk? Do not tell me to get .00005 cent is worth the risk it is not and they know that. Here is what mm's do. They put in a bid an offer on both sides of the market and manage inventory kind of like a ticket scalper at Wrigley. They stand on the corner and they provide a service buying tickets from people that have four tickets but one person did not show up and they need to liquidate it. The MM (scalper) who knows what those tickets are going for makes a bid to the desperate person saying, I will take your inventory and try to stand here and liquidate it myself hopefully for a profit. The desperate person agrees because he needs beer money and a ticket at Wrigley can fetch quite a few beers. Therefore, a trade happens. The scalper then stands there and immediately tries to sell that ticket for more than he paid for it. What he does in a very non-sophisticated way is manage inventory, if he continues to accumulate inventory he lowers the price in order to encourage buying much like a store when things go on sale. MMs do this on a day-to-day basis and yes, they do play many games. That is how they make there living one quick buck to the next. They do not hold positions for more than a few minutes much less a couple hours and they definitely do not go home with anything substantial in inventory.
Here is what I am trying to relay. I am not a basher of this stock. I have advised my friend to hold his stock until the company releases financials as they have promised to do. Therefore, those of you that say long and strong and no one sell I applaud you.
I willing to guess however that even if most of you sold on this message board it would not make much of a difference on the actual share price, except the people out there with over 100+million shares and you know whom you are. What is pushing this stock up, besides momentum, is the potential in mineral value that UC is sitting on, i.e., a cache of diamonds worth multiple billions. If he is not and all of this is BS, this stock will plummet back. Place the .0001 doldrums that it has been for so long. Nevertheless, if this is company is legit you will all make millions very easily. IF he has this cache, DeBeers will be forced to make a move.
Therefore, we all know that and we will all wait until these results come back and the audits come thru. Then everyone will know what this company is worth. Basic valuation lesson FLOAT*share price=Market Cap. The two biggest companies in the world MSFT and GE only have market caps of 50 billion so if you find out that there are 37 billion shares outstanding do not expect this stock to be worth a buck. Think about value and base your trading decisions on that. Ultimately, that is why stocks move, because they have fundamental changes in value, these press releases coming forth in the next month or so will fundamentally change value positive or negative. What NITE, JEFF, and other mm's are doing intraday has no effect long term on where the price is going.
In conclusion, the possibility exists with the stock where it is that many shorts can and might enter the market where the stock is right here. .0008 offers tremendous potential back to the downside. That is why there was so much action from .0008 to .0005 late in the afternoon. Why not sell at .0008 under the annual high and try to buy it back for a couple ticks? That is what market makers do. They are not inherently evil (do not get me wrong they do evil things) they like you are trying to make a quick buck. So put things into perspective instead of this US against the world mentality realize this is a competitive game and you can switch sides at any time. The only thing selling at this point you risk is if this thing takes off which it could do at any point from here is missing the big one. Also Short Squeezes can be very powerful but in order to do that the stock has to be at a place where people want to go naked short albeit under an all-time hi; not at absolute zero.
Finally, I hope for everyone on this message board that CMKM is a legit company and they find the largest cache of diamonds known to man. However, keep reality in perspective during these exciting times. Do not lock yourself in the bathroom for three hours to get away from the kids to dream about your "unrealized gains" and hitting refresh on your browser, be realistic. If this stock blows, it will be because there is fundamental news and hopefully enough people are enticed to short at .0008 and above and when they scramble to cover there is no one there to sell it to them. GOOD LUCK!!!! and happy diamond hunting.
P.S. I welcome any and all constructive comments to this post. I am not a basher I wish I had a couple hundred million shares of this stock."
This is the end of this person's post.
Please do your dd and make your stand based on that alone... Staying long Coach
[This message has been edited by COACHPHILM63 (edited July 10, 2004).]
Posts: 4801 | From: Prescott, ON, Canada | Registered: May 2004
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in order to buy back all the shares, he would have had to fork out 40 million dollars to do so.
if he had 40 million dollars to spend he woudl have done the exploration to date him self with out the share holders.
a publicly affoered stock is used to generate capital to get the company off the ground.
Sorry but i wont buy this therory.
to have a lawyer of this caliber means nothing more then they have paid a retainer fee. nothing more. And i dont know any lawyer that doesnt like money.
hell if you have enought money you can hire Jonny Cochren. He was one of the best but he didnt walk away because there was a chance that OJ was guilty. There is a chance that Urban can make this fly so why not take him on as a client. they are not fortune tellers. they are lawyers that offer thier services for a fee. you want to pay the fee they will accept it.
I would however love to hear a better PR Mas to what is going on with the transfer agents. that crap is just plan bothering me.
Still holding GLTA
quote:Originally posted by noahltl: Great phone conversation Debi. I'm betting that's exactly how it went down. LOL
Posts: 4801 | From: Prescott, ON, Canada | Registered: May 2004
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posted
That is correct he holds the mineral rights to the land he still has to work out arrangements with the land owners in which a lot of it would more then likely be Crown Land (government owned land).
to buy that land woud cost hundres of millions of dollars at a real steal.
quote:Originally posted by darrenbaker: Everybody keeps saying UC owns all this PROPERTY. Isn't it mineral rights for the 1.4mil acres and not the property it self???
[This message has been edited by darrenbaker (edited July 11, 2004).]
Posts: 4801 | From: Prescott, ON, Canada | Registered: May 2004
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quote:Originally posted by STAR GAZER: Well I sent my complaint, but when I tried to say that I should have received 9,600,000 shares of a stock dividend and also 9,600,000 shares of the spin off it kept saying invalid so I put 1 share in the box for number of shares in question and then it the area for comments I said that it was 9,600,000 shares not one, but that I kept getting an invalid sign when I would try to put in the correct amount.
I called last week and couldn't get past the boilerboy that answers the phone. He put me on hold for awhile, then came back with "E*TRADE is aware of your case, and they have 30 days in which to respond". Maybe I'm getting somewhere this time. I'll keep you aware of how it plays out. I have my packet prepared for the SEC and will be mailing it out on July 15th if I haven't heard anything from E*TRADE.
------------------ Due Da Due......But Be Quick About It!!!!!
posted
Hey Urban, Go talk to Frank over at Qbid and ponder up some more ideas on taking down these MM's. Wow, What an awesome PR!!!!
Posts: 192 | From: tucson | Registered: May 2004
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posted
pennytrader-UC may have bought back all the shares-I can follow your logic to some extent about if he had $40 Million he would have done everything himself and not had shareholders. It is possible he did this after some kind of deal with BBX equity or another equity lender and the OS may have been less than 15 Billion shares so that would be $15 Million. It is all speculation until this company files for the last 2 years but I think it is entirely possible. --------------------------------------------- We all make assumptions on every stock. Three years ago even UC knew less about the properties we have mineral rights on than he does now. As more positive information is learned more money becomes available to invest. I know the more I have learned the more money I find available to invest in this company. If UC had(has) proof positive of some diamonds on his claims and he shared that with an equity lender with deep pockets he should have bought back his stock at .0001. Who wouldn't? If we thought it was a buy at those .0001 with our limited knowledge how much more would UC and the lenders think it was a buy if they had the inside scoop? --------------------------------------------- I find it interesting that UC put his shares away for 3 years. I am sure there is a reason for that but I am unsure what it is. GLTA-DD-IMO-Debi --------------------------------------------- I have no clue where the price will go without a PR. I will be buying some every day while it is on sale. If it goes to .0002 I will accelerate buying and at .0001 I will back up the truck and load up. I know WW is a stock promoter and I would not attempt to vouch for his honesty. But he does know how to make money and he has 900 million shares. He has added 150 million in the last 5 weeks. Maybe he did a good swing trade. I wish I did. Anyway at this price I see it as a buy and if it goes lower with no news I see it as a bigger buy. IMO-DD-GLTA-Debi Posts: 1188 | From: Clinton, MA 01510 | Registered: Jan 2004
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posted
RaiderJR wrote: Another post on the successive year rule.
quote: -------------------------------------------------------------------------------- xINSIGHTx had a great dd post. According to a certain SEC ruling, to remain on the pinks you have to file a certain form but to file the form you have to have less than 300 shareholders or some other requirement. You have to file this thing for two SUCCESSIVE years. CMKX last filed July 22, 2003 SO they MUST file another form by July 22, 2004
Seems it is once a year for the first two years. --------------------------------------------- RaiderJR-I couldn't find the xInsightx post but liked your copy of it. Thanks xInsightx nice post if it was here-I missed it. --------------------------------------------- Wallace-Good DD. I had heard of the Petro Plus company with UC and it is hard to do DD on it at this point because it was so long ago. I tried to redo the research I had on it originally and couldn't find it. What I do remember is that many of the present investors in CMKX were with UC back in Petro and don't hold UC accountable for any of Petros woes. Supposedly his experiece at Petro is rumored to be what caused him to buy back all the OS and fuels his concern for the long term shareholders here. I think that is credible. It depends on your view on Naked Shorting and its effects on both companies and investors. I believe it has gone on, is going on and affects all retail investors in penny stocks in a big negative way. --------------------------------------------- I was trying to do some DD on BBX equity. I remember when I first was looking them up a couple of months ago I had some concerns about them. Equity lenders are one of my pet bugaboos in the OTC and pinks. They appear to often short the companies they lend money to; this may or may not be true since it is next to impossible for a retail investor to tell who is naked shorting a stock. We can usually tell that it is occurring but usually a forensic audit plus ongoing monitoring is needed to really know what has and is happening. So if anyone has any DD on BBX I would love to see it. I am thinking it was Skyway that backed out of a financing deal with them over a leak in the press of some upcoming news. I will try a google search on that later. I usually like to look up all the companies an equity lender has financed and track the stocks price and dilution. If the prices of all their customers have tanked it makes decision making easy. Of course sometimes the deals turn out OK. So far MOBL and Cornell are not nearly as bad as I feared. That may be because MOBL has the goods for the long term. IF CMKX has diamonds and a large short position they will be fine no matter who their lender is. But I like to have my ducks in a row too. -IMO-DD-GLTA-Debi
Posts: 1188 | From: Clinton, MA 01510 | Registered: Jan 2004
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posted
I don't know what Level 2 is right now but I have a buy order in at .0003 and it hasn't filled in 7 minutes. I just raised my price to .0004 and maybe it will fill. I think it will have to go up soon. Too many people wanting to buy low. IMO-DD-Debi
Posts: 1188 | From: Clinton, MA 01510 | Registered: Jan 2004
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posted
Boy it is hard to get a buy order filled on freetrade for CMKX this AM. ANyone buying this AM? -Debi
Posts: 1188 | From: Clinton, MA 01510 | Registered: Jan 2004
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posted
Hi Noah-Everyone moved to .0004 for a minute or so and Jeff was at .0011 but then it went back to .0003 with JEFF again. Here is a post from Sterlings class which is pretty straightforward that we can expect news and filing before July 22. IMO-DD-GLTA-Debi --------------------------------------------- Something very very important!!!
hybridthinker Diamond Hunter
member is offline
Posts: 47 Something very very important!!! « Thread started on: Today at 12:53am »
-------------------------------------------------------------------------------- I think this may have gotten overlooked. Gandhi posted the link to this eariler, but it seems like more people focused on the comment that was made about what other resources we have instead of the fact of what is coming up. Here is the original post from IHUB http://www.investorshub.com/boards/read_msg.asp?message_id=3533441
I've removed the comment about resources at the end, but otherwise here is the post below. // CMKX Files by July 22 //
according to the securities and exchange act of 1934, CMKX had to meet the following criteria to be eligible to file a form 15-12g (Termination of Duly to file reports).
a) less than 300 shareholders or b) less than 500 shareholders and less than $10M in assets
urban met one of these conditions, and filed a 15-12g on July 22, 2003. sucks for the shareholders, but there werent that many obviously. keep in mind this was right after they bought the cybermark shell.
however, filing a 15-12g isn't a free ride forever. keep in mind that this is a PUBLIC market, and being able to not file indefinitely defeats the 'public' in the market.
as i read the act, i'm fairly certain it states the following two successive years CMKX will have to justify their 15-12g status by reaffirming that one of the above two conditions still exist. the only exception seems to be if they are a 'shell' with no tangible assets, and no active business.
with that in mind, i think UC -has- to file by July 22 of this year. with hundreds of shareholders in sterling's paltalk room alone, you figure UC will exceed the shareholder requirement. and if CMKX is paying a 7 figure sum to glenn for legal services, it's not hard to fathom they have $10M in assets now.
on June 4th, CMKX PR'd they want to be a fully reporting company, probably because at some point prior they realized they HAVE to be if they still want to be public.
read the securities and exchange act yourself. i honestly think we'll be seeing a LOT of activity prior to the 22nd!
posted
I relooked at my Ameritrade trades, pages of them, and Ameritrade was right, I did buy the 9.6 million after 12 Sept 03, I had thought that it was before that date, I put a buy order in for .0001 but it was executed after Sept 12th. Well good luck to dardadog and any others.
Posts: 580 | Registered: Oct 2003
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posted
Hi Tradingpennys-good for you. I only got 1/2 Million more this AM. I have some cash left and will buy some this PM. I deposited some cash to another account to buy some later this week. I do think the filing will need to be done by July 22 so it is getting down to the wire as far as this stock goes. Once everything is on the table this stock will most likely be .0001 or .01+. I don't think it will be in the middle of those two numbers. JMHO-DD-GLTA-DD-Debi
Posts: 1188 | From: Clinton, MA 01510 | Registered: Jan 2004
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posted
will Member posted June 27, 2004 00:54 -------------------------------------------------------------------------------- That isn't the question, I am not asking for the process to be explained as to how it works. According to the PR the audit is finished. There isn't any bashing on my behalf, only some doubts as to why some issues aren't reported, and others were reported in brevity. Most people recognize these issues, but choose to excuse them. Maybe it just comes down to a matter of trust and faith. Personally my exposure isn't much at this point. I have no intention of selling, and may even buy more. I am just saying I for one would be much more comfortable if all this positive conjecture was supported with clear, detailed information made public by the company. ....................................... Will, I like the questions you pose. And never see anyone able to give solid evidence as an answer. Just opinions and the like. Alot of the support here is blind faith. And I am one of them! lol. Tina
Posts: 415 | From: CA | Registered: Jun 2004
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When you guys buy more like this morning, is this money you had left in your trading accounts or did you wire it? Every time I buy I need to wire the money and the bank charges me $17 for each transaction. I know Ameritrade accepts deposits out of checking accounts (over the internet) but they have a 5-day hold on the money for pinks. Seems there is no "easy" way to get the money into the trading accounts right away, is there?
quote:Originally posted by Money_Penny: Just curious,
When you guys buy more like this morning, is this money you had left in your trading accounts or did you wire it? Every time I buy I need to wire the money and the bank charges me $17 for each transaction. I know Ameritrade accepts deposits out of checking accounts (over the internet) but they have a 5-day hold on the money for pinks. Seems there is no "easy" way to get the money into the trading accounts right away, is there?
Money, I sold another stock and bought with the profits. But, yes, it is a problem trying to move money quickly for pinks. I learned the hard way, and just moved a substantial quantity of money into my portfolio, all at once. And I always keep a cash reserve on hand in the account in case something breaks quickly so I don't have to miss an opportunity.
Posts: 2 | From: Noblesville, IN | Registered: Oct 2004
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