posted
Upside, I agree it is dangerous to hang your hat on just one aspect of this stock the naked shorting one. I think if you watch the volume daily and see the price frozen it is clear that the MM's are sitting on it. Is that because they are so kind and responsible they don't want anyone paying more than it may be worth? I wouldn't count on their compassion. As far as the mineral claims CMKX is planning to mine them themselves so I wasn't looking for any favors from DeBeers. The diamond trade is cutthroat and they will not be doing us any favors. As far as the mineral claims being worth billions of dollars. I find that easy to believe. I think this stock is a winner on many levels. At .0005 I think it is undervalued even if there are 500 Billion shares. Although I would be very disappointed if there are even half that number Outstanding. I am willing to be patient and I think the NS situation in the stock market needs to be addressed period. It is like the wild west right now and we need a sheriff. THe company does have a great lawyer and law firm working on this. The mining partners thought enough of what was found to continue giving money. The share price was so depressed that UC may have bought back all or most of the outstanding. We really won't know until we know via a PR. When the share count and other information is released the share price will spike dramatically if I am correct and I would not be able to afford a fraction of what I have now. The MM's are asking me to buy by their behavior. They are guarding this stock like it is a precious gem. I think it may be. IMO-DD-GLTA-Debi
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We only have to prove the value of our mineral rights is much higher than the market cap allowed by the mm's. I am not counting on DeBeers ever giving true value. 2 Billion for claims with hundtreds of pipes is very cheap and realistic.
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Debi, I really hope that you're right because if not, a lot of people are going to get hurt real bad. There are people throwing everything they have into this stock and if the naked short scenario doesn't play out, they're done. I know we don't see eye to eye on this one but just imagine for a second that they are not naked shorted and the lack of pps movement is because of all of the shares they have outstanding. If this is a normal sub-penny stock, with assuming you're right, say 30 billion shares outstanding, how is their pps ever going to move much? It may be a good swing trade but to mortgage the future on it is anything but sound investing. Even if they have massive kimberlite pipes on their claims, they're not worth much until proven to be so. Who is going to buy them in an amount that will benefit you and me?
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Upside-I understand that people are throwing a lot of money at this and if it turns out bad they will be hurt-I am one of them. Every stock has risk. The big board stocks have a lot of risk too. There is no guarantee in any stock. If we want security we can put our money in a passbook savings account and get 1% interest. I think the risk reward ratio here is better than acceptable. I can't think of a better short term or long term play in the OTC market. The mineral rights are in such a prime area and are guaranteed to have diamond content. I would say out of all the kimberlite pipes we know we have and anomolies we have recently found we are almost certain to have some gem quality diamond finds which can be profitably mined. People will always step up to make money. So even if we are cash poor; if we have the raw materials (which I think we have shown we do have), we will be able to find monied partners who can help us mine them for a cut of the action. We may also have other minerals which may be profitable to mine. 1.4 Million acres is a lot of land to have mineral rights on. 1.4 acres of minerals rights in the hot spot of diamond mining this century is enviable. You may have correctly guessed I have a huge risk tolerance. This stock is not for everyone. I do think when everything is revealed If it turns out the way I think it will the price will be move by decimal points and a million shares will be out of reach of a lot of investors who frequent these boards. I could be wrong. At .0005 I am happy to take that chance. I would like this to be a short, med and long term investment. The worst case scenario for me is I have to wait for the company to begin mining the better kimberlite finds that have diamonds. and need my whole investment to be long. That really isn't that bad. Once again-the mineral rights have value. I think this company is grossly undervalued. I have no problem believing it is Naked shorted since the MM's are sitting on the price like they are guarding their firstborn. I am thrilled we have a good law firm and lawyer on this. RaiderJR made a great point about a lawsuit. I think we can prove the value is there even if the outstanding share count is high. If it is low or non-existent then we will have a huge payday in the not so distant future. This is my opinion and I am willing to live with it. As far as safe investments go we know lots of investors had safe investments like Enron and WorldCom that crashed and burned. At least going in on this one you are not expecting it to be GE or IBM. And you are paying .0005 not $30 or $80 a share. GLTA-IMO-DD-Debi
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DEBI I must say that comparison to risk between big board and this stock is not close. Don't forget you have much more information and can avoid most of the bad ones.Plus more ways to produce a profit. VAN
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One tiny bit of correction on your comments about a stock split. If the outstanding shares are above half of the authorized shares, there would have to be a corporate resolution increasing the authorized shares. Otherwise, you are 100% correct.
Debi,
You keep referring to that lawyer as being some sort of key to this whole thing. Not necessarily so. All WS law firms worth peanuts, have more than 1 securities expert.
Maybe the low will hit .0003 today?
Other questions that no one has addressed. Concerning those Treasury shs that are not in fact retired if they are in the Treasury. Who sold them (16.5 bil shs, plus)- at .0001 that's $1,65 mil plus? Who bought them? Where did the $$$$s come from and where did they go? What is the amount of Treasury shares as of this moment?
[This message has been edited by Wallace#1 (edited June 29, 2004).]
[This message has been edited by Wallace#1 (edited June 29, 2004).]
posted
Actually Edwards & Angell have over 300 attorneys and 11 of them specialize in securities. No one ever suggested that Roger is the only securities expert, only that he is the best. Do your own DD and don't listen to bashers and others hoping for this stock to go down so that they can get back in.
posted
Suggest you all go back and review that post by an atty about Edwards & Angell and how many so-called experts in that office where Glen practices. Edwards & Angell is not considered a Wall Street firm...specialty is basically insurance if I remember correctly.
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You keep referring to that lawyer as being some sort of key to this whole thing. Not necessarily so. All WS law firms worth peanuts, have more than 1 securities expert.
Maybe the low will hit .0003 today?
Other questions that no one has addressed. Concerning those Treasury shs that are not in fact retired if they are in the Treasury. Who sold them (16.5 bil shs, plus)- at .0001 that's $1,65 mil plus? Who bought them? Where did the $$$$s come from and where did they go? What is the amount of Treasury shares as of this moment? --------------------------------------------- Wallace, I am very pleased with both the law firm and lawyerthat CMKX chose to represent their interests. I think his background is compatible with the special needs this company has. As far as the stock possibly hitting a low of .0003 goes-maybe some of our .0004 buys will get executed if it hits .0003 on the bid. If this stock was allowed to move freely it would have definitely been hitting many ticks higher and a couple of down ticks would be likely to occur. It is being unfairly manipulated and in all fairness you would have to agree. No stock has billions of shares sold day after day without budging on the ask. This is one of the main problems facing this company that our law firm will be addressing. I am looking forward to seeing this resolved. As far as your unanswered question related to the share count. Get in line behind all the investors waiting for complete disclosure of all the share count data. I did read an excelent post today about this and will search for the link. I can't give you a thorough synopsis of it because it was difficult to follow. The poster did send away at his own expense for the records on file with the state of Nevada. He matched PR's with share activity on file and accounted for the shares you are asking about. He drew a conclusion of a very small outstanding share count. It was a link from the NIZ board at RB. I am looking forward to seeing the data on Outstanding shares and the Naked share count. I am also looking forward to the company becoming a reporting company again. At that time we will have most of our questions answered. At least the ones which all reporting companies are required to answer. IMO-GLTA-DD-Debi
posted
question: why is it so hard to figure out the amount of shares traded in a day or let`s put it that way ameritrade website and streamer don`t correspond is it because some of the shares traded are naked i mean orders get filled without available shares
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CAUTION - I think Wallace is trying to gain popularity by acting half-way "normal", and then, at a later date, when he has wrapped some newbies around his finger, he will show his true side and start bashing again. For those who don't know Wallace, don't listen to anything he says because he is a BASHER!!! Look in the old CMKX thread for proof.
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Hi Wallace, Think I would rather have you cook the ribs with tempura on the side. Then too full for fried ice cream. I looked on the NIZ board for the link and I either didn't find it or could not get it to execute without logging in. I did find a cute link I will post below. I am heading off to the beach now. I trust that CMKX will still be at bid of .0004 and ask of .0005 when I get back and there will be another 6 Billion shares traded and apparently satisified customers since they keep coming back for more. IMO-DD-GLTA-Debi
quote:Originally posted by Money_Penny: CAUTION - I think Wallace is trying to gain popularity by acting half-way "normal", and then, at a later date, when he has wrapped some newbies around his finger, he will show his true side and start bashing again. For those who don't know Wallace, don't listen to anything he says because he is a BASHER!!! Look in the old CMKX thread for proof.
i know ,cooking ice cream balls sounds suspect to me
posted
Before you decide to suggest that others may be using multiple identities, you may want to consider that I have posted as DragonMaster from the beginning. I have no reason not to.
I do not bash a stock, however I do present information, good or bad, that I can verify.
If this upsets you perhaps you should either quit reading the message boards, or grow up and not fall in love with the stock. I am in this for the money, not a love affair. While I am interested in the fact that we might have an up and comming network, I am not blind, having been a broadcast engineer for 25 years, and put a number of radio/television/network stations on the air/cable/production facilities.
So if you cannot take the good with the bad or vice versa, perhaps you would like some cheese with that whine.
Personal attacks on myself or others do not solve the basic problem, you didn't do your own dd. That's pretty much the end of the story. It's a stock, not a friendly gathering, not a social event, and motherly love doesn't even begin to come into the mix.
Take responsibility for your own actions, I do. I make a bad decision, I own up to it and try not to make another. You would rather blame it on someone else. Doesn't work under the best of conditions. At the end of the day the only one you have to convince is the guy/girl looking at you in the mirror. Don't bother trying to convince me as I know already.
Thanks for your consideration
The DragonMaster
quote:Originally posted by Booty Quest: FarmBoy, you are sooo right! I think Richnessforeveryone is a total fraud! LMAO!!! I was just reading his posts on the negative CMKX thread and can see exactly what you were saying about him and how he pretends to speak poor English. This must be an old basher who changed his name and came back for more.
I was in the audience of the Jon Benet Ramsey murder case in LA and learned a lot about ransom notes. People that disguise their handwriting or personalities in writing will eventually become exhausted and revert back to their normal style.
LOL! At the beginning of this guys long bash-paragraph, I couldn't read without deciphering every few words, but I decided to trudge through. All of a sudden, he became fluid! I was breezing right through it and was amazed! It hit me like a rock!
It's funny that he spells the tough words right, the words like 'doubt' that most people around here spell wrong, but butchers the simplest words. What a scammer!
You may disagree, but I suggest people use their discerning abilities around here. I've seen a lot of scams going on at QBID lately. People that spend months becoming your friends so when the time comes they can exploit that bond and get you to sell all your shares. Then they come back and try to appear nothing like that other person. some of them are very savvy and pretending to be Lotka probably gives them a thrill every time they fool us!
Here are 3 examples of people that I think would do something like this:
U4TSAF2 - $CASHTAKER$ - DragonMaster
There are others, but I won't go there. Take this for what it's worth. Agree, disagree, bash me senseless...I am tired of distrusting people. It doesn't have to be this way. GLTA)
posted
Booty, as far as I can tell Dragon_master is not bashing, simply taking the time out of his day to invoke some kind of sense into anyone (particularly newbies) who buy into the pumping that goes on in stocks/boards such as this. I am not claiming you to be a pumper, however positive DD is only half of the picture. Without knowing the negative of a company, any money invested is 100% more unsafe. It amazes me that when anyone posts information that is completely pertinent to any given stock; people flip out over it if it is not 150% positive. I just don’t understand how someone who takes the time out of their day to enlighten people about the negative side(s) of a stock, particularly when that person (as far as I can tell) has absolutely no interest in buying it at any price, can be considered a basher. GLTY and all.
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quote:Originally posted by Money_Penny: CAUTION - I think Wallace is trying to gain popularity by acting half-way "normal", and then, at a later date, when he has wrapped some newbies around his finger, he will show his true side and start bashing again. For those who don't know Wallace, don't listen to anything he says because he is a BASHER!!! Look in the old CMKX thread for proof.
The quality of the law firm and our attorney is our strongest evidence of CMKX being a legitimate company. Not the only, just the strongest. So a basher has to attack that point of strength if he is to successfully sow seeds of doubt. A look at the law firms website clearly shows that they are a major player in corporate law, stock and securities, and the Wall Street playground. We could not be represented by a more qualified firm or attorney. But what are facts to a basher?
posted
Here's a post from PennyWrangle on another board:
Roger has over 20 years of experience in securities law. He has handled numerous IPOs and other public offerings, PIPE transactions, exchange and hostile and friendly tender offers, mergers and acquisitions involving public and private companies, private placements, Rule 144A sales, Rule 10b5-1 plans and all filings and reports required by the Securities Exchange Act of 1934.
The companies he has represented have been in the telecommunications, media, health care, financial services, technology and software industries and have had securities listed on the New York and American stock exchanges and the NASDAQ stock market.
Notable Experience
* Roger was involved in the $600 million acquisition by a major telecom company of corporations and limited liability companies holding FCC licenses.
* Roger represented another major telecom company in a cash tender offer and the $450 million outstanding high-yield debt of an acquisition target pursuant to a change-of-control indenture provision.
* He was instrumental in the acquisition of an Austrian wireless telecom company with $1 billion of assets.
* Roger handled the successful takeover of an insurance company by hostile tender offer.
* Roger represented a telecom company in the issuance of $200 million in Senior Notes in a PIPE transaction.
Recent Speaking Engagements and Publications
* The Going Public Sourcebook,co-author, a guide to the initial public offering process and ongoing reporting and other compliance obligations of a public company published by RR Donnelley Financial.
* Corporate Responsibilities of Public Companies in 2003, author, 2003.
Before Edwards & Angell
After college, Roger practiced as a Certified Public Accountant on the audit staff of Deloitte & Touche in Miami. He began his legal career with the Securities and Exchange Commission, where he conducted investigations for the enforcement division.
Besides Edwards & Angell
Roger is an enthusiastic golfer and tennis player.
Sidebar information:
Quote:
Areas of Practice Corporate Private Equity & Venture Capital Securities
Industry Experience Financial Services Healthcare Technology Telecommunications
Education University of Florida, School of Law J.D., with honors, 1980 Executive Editor, Florida Law Review Order of the Coif Florida State University B.S., cum laude, 1976
posted
UPSIDE-WALLACE A corporate resolution directed aT capitalization on a specific type of shares (common,Preferred,etc)MUST BE HANDLED THE SAME. A/S is a total amount of a type O/S is the amount Authorized but not releasesd, Repurchased shares are not considered as part of O/S. VAN
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quote:Upside, One tiny bit of correction on your comments about a stock split. If the outstanding shares are above half of the authorized shares, there would have to be a corporate resolution increasing the authorized shares. Otherwise, you are 100% correct.
Wallace, I can see the need for that in the case of a forward split but are you sure about that in a reverse split? They would be reducing the outstanding amount so why would they need to increase the authorized?
posted
Van, Authorized shares are the total amount of shares a company is authorized to sell. Outstanding shares are the amount of shares that have actually been sold or given to officers, vendors in lieu of cash, etc. The float is the amount of shares that are available for public purchase on the open markets. Please explain where this is wrong.
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UPSIDE O/S & Float are the same thing. On a few of the latest posts you are suggesting that a R/S split affects A/S -O/S- & Float differently. THIS IS NOT TRUE. For common stock the corporations actions will R/S ALL common stock if theis were not true. Insiders & corporation would be violating laws. VAN
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posted
Van, Hate to disagree with you but you are not correct. #1, Outstanding and float are not the same thing. The outstanding amount is the total amount of shares sold or granted. Some of these shares are held by insiders and others and these are not a part of the float. The float is the amount of the outstanding that are available for purchase by the general public on the open market. #2, in a reverse split the o/s and the float are affected but the authorized does not necessarily change. One recent example of this is GWDL which just last week had a 1/900 reverse split and is now GWAD. Their outstanding was reduced by a multiple of 900 while their authorized remained the same. Don't take my word for it though, look at their SEC filing where it spells it out. This happens all the time and while its certainly a big cause for concen, there is nothing illegal about it.
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You are right about a reverse split - no need to increase authorized. I mistakenly thought you were talking about a forward split.
You are also right about outstanding shares vs float. Public float is considered to be only those shares in the hands of the public. It excludes shares held by officers, directors, their families, their trusts as well as institutional holders. The reason public float is important is that it MAY be indicative of enough shares issued and outstanding so as to create or help to encourage an orderly market. Further, you are right about authorized shares plus issued and outstanding shares. Treasury shares are also issued shares...just, to my knowledge, not considered outstanding shares until they are used for some purpose and then become outstanding shares.
DragonMaster- post at 11:00 futuresobjective- post at 11:11
WELL SPOKEN!!!
[This message has been edited by Wallace#1 (edited June 29, 2004).]
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