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Originally posted by Wallace#1:
Yo Ho Ho and a barrel of kimberlite! If you're not out now, better SELL, SELL, SELL!

The truth is, I do feel badly for the so many of you that got sucked into buying because of all the avid pumpers. Sure would like to hear noahltl's and other's spins.

Not telling you "I told you so" yet, but getting much, much closer. As someone said, wonder if there will still be a party? If not, I hope no one loses money on reservations, etc. as well.

Mdec, just got back from some errands.

My positive spin is that UC and friends were trying to support the pps so shareholders could get out...after all, they're only thinking of you. LOL

[This message has been edited by Wallace#1 (edited October 28, 2004).]

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Speaking of the Las Vegas party, I think we should all attend...if for no other reason than to beat the living schidt outta' Urban and Melvin for telling us so many lies! Well, that wouldn't work either. If we beat the living schidt outta' them two, there would be nothing left 'cept buttons and zippers.
Steve

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Originally posted by Esteban:
Speaking of the Las Vegas party, I think we should all attend...if for no other reason than to beat the living schidt outta' Urban and Melvin for telling us so many lies! Well, that wouldn't work either. If we beat the living schidt outta' them two, there would be nothing left 'cept buttons and zippers.
Steve

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sorry but do you really think they will be there? Who knows at this point.....

You wrote:
"If we beat the living schidt outta' them two, there would be nothing left 'cept buttons and zippers.
Steve"

Posted 10/28/04 @ 1:54pm
http://www.investorshub.com/boards/read_msg.asp?message_id=4413138

MY OPINION RE: HALT

This could be very good or very bad. I will list both possibilities all IN MY OPINION and everyone can judge where they fall.

Possibly good:

It is very possible that the UCAD dividends have tripped up a closer investigation into what is going on with the naked shorting. Perhaps the SEC is looking into UCAD's audited financials to make a final determination that everything is clean before either pursuing possible crooks or allowing the stock to continue trading with possible future buy-ins anticipated. Roger Glenn presumably is on top of this and I'm glad we have serious professional expertise to assist in this process. I found the following language VERY curious on the SEC release:

"Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not he has complied with the rule, he should not enter any quotation but immediately contact the staff of the Securities and Exchange Commission in Washington, D.C. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to the securities of U.S. Canadian Minerals until such time as he has familiarized himself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation for the stock of U.S. Canadian Minerals that is in violation of the rule, the Commission will consider the need for prompt enforcement action."

Very strange to me. Almost seemed like a pretty severe warning to brokers and dealers. Also, from a source, apparently Ameritrade knew about this halt yesterday. Which is odd. If a broker were notified ahead of time, my best guess is because there are broker issues. I highly doubt a broker would be notified ahead of time because of fraud issues. But who knows. Just found it strange. Anyway, this could all very well have been a result of either a) the dividends, b) an impending merger/acquisition, c) an honest look into the financials simply based on the price move from $4 to (postsplit) $17. These are all POSSBILITIES none of which can be ruled out.

Possibly bad:

I sure hope USCA's financials are unimpeachable. Because it looks like the SEC is going to comb things thoroughly. I am very surprised at a halt in USCA and not CMKX. I don't know what to make of that. The bad scenario is that the SEC has some accounting issues and possible fraud issues with the way UCAD has handled itself. I guess the only thing to do is wait and see. Whereas the above quote from the SEC regarding the brokers/dealers is potentially good, the following quote concerns me:

"The Commission temporarily suspended trading in the securities of U.S. Canadian Minerals because of questions that have been raised about the accuracy of publicly disseminated information concerning, among other things, U.S. Canadian Minerals’ financing and mining activities and the value of U.S. Canadian Minerals’ purported assets."

As I said, I hope their financials are truly flawless, because if not, this could be quite bad. Let's hope so. Glenn is a former Deloitte man and intimately familiar with what is and isn't appropriate accounting. Let's hope that pays off for us.

Possibly ugly:

A trading halt with the SEC looking into financials is NEVER a good thing, and I don't care WHAT spin anyone wants to put on it. The hard reality is this is just not a good thing even if it turns out to be nothing but a chance for the SEC to review and sign off on USCA financials. I hate that this has happened. And I'm quite confident USCA did NOT expect it.

My bottom line is that I was 90% confident in this investment before. Today, that has dropped to probably 40%. That's how serious I take something like this. Am I selling? No. But not because I don't want to. In all honestly I would clip 50% of my holdings on this if the price were near my entry point (.00044), but it is not. At .0001 I just assume hold and take my chances. Just being upfront about that. I'm pissed that my USCA shares that are free trading (the ones I bought last week) will lock up $900 of mine until November 10 (or longer if extended) and likely open a lot lower (always happens with halts). I am not investing in GEMM any further until there is some clarification as to what is happening with these inquiries and the halt. At least everyone knows I'm straight up on this. I'm not "panicking" but I'm sure as hell not happy about this whatsoever. I seriously doubt USCA or CMKX is either. And if the company at all was aware of this but knew it had to happen to force some issues regarding naked shorting, well then that just flat out sucks that we are getting screwed triply by being kept in the dark on ANYTHING.

UCAD filed early application of "mineral rights"

By: my69z
28 Oct 2004, 01:41 PM EDT
Msg. 108784 of 108807
Jump to msg. #
UCAD filed early application of "mineral rights" & maybe this could be showing a massive increase in value.

By: my69z
25 Oct 2004, 10:18 PM EDT
Msg. 106637 of 108778
Jump to msg. #
"Mineral rights" considered Tangible Assets according to The Emerging Issues Task Force (EITF).

From UCAD's 10-QSB 6-30-04 under F-14...: The Emerging Issues Task Force (EITF) has reached a consensus that mineral rights are tangible assets (EITF Issue No. 04-2).

The guidance in the EITF to be applied to reporting periods beginning after April 29, 2004. The Company has elected early application of this guidance.

Issue No. 04-2, "Whether Mineral Rights Are Tangible or Intangible Assets." FASB Statement No. 141, Business Combinations, requires the acquirer in a business combination to allocate the cost of the acquisition to the acquired assets and liabilities. Paragraph 37 of Statement 141 lists assets and liabilities that an acquirer should consider in its allocation of purchase price, and natural resources are listed separately from intangible assets along with other assets. However, Appendix A of Statement 141 provides examples of intangible assets, and includes mineral rights as an example of an intangible asset that should be recognized apart from goodwill. An EITF Working Group was created to research this Issue and it observed that if the Task Force were to decide that all mineral rights are tangible assets, it would necessitate an amendment to Statement 141. In the mean time, the SEC Observer indicated that the SEC would continue to interpret the provisions of Statement 141 and FASB Statement No. 142, Goodwill and Other Intangible Assets, with respect to mineral rights as written—that is, as intangible assets—pending any recommendation by the Task Force to the Board that Statement 141 should be amended.
Status: At the March 17-18, 2004 EITF meeting, the Task Force reached a consensus. Board ratification of that consensus was subject to resolution of a perceived inconsistency between characterization of mineral rights as tangible assets in this consensus and the characterization of mineral rights as intangible assets in Statements 141 and 142. That inconsistency was resolved by an FASB Staff Position (FSP) that removed mineral rights for mining entities as examples of intangible assets in Statements 141 and 142.
Last discussed: March 17-18, 2004
http://www fasb org/eitf/eitfissu shtml

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Originally posted by Upside:
Hate to always be the negative voice or in this case, the voice of reason but, it's got nothing to do with naked shorts, mergers, missing dividends, etc. UCAD is under investigation for allegedly falsifying information regarding their finances, mining activities, and assets. Urban & Co. are under investigation for what appears to be stock manipulation and possibly fraud. I'm not saying its "game over" yet but there is nothing positive in this regardless of the countless theories that are coming out. Nothing to do now but sit back and wait.

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Originally posted by sharkus:
sorry but do you really think they will be there? Who knows at this point.....

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Originally posted by safeguard:
By: bobbybdb01
28 Oct 2004, 12:22 PM EDT
Msg. 2288 of 2340
Jump to msg. #
** A MUST READ***
By: grandepeter
28 Oct 2004, 12:15 PM EDT
Msg. 637476 of 637518
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EVERYONE READ THIS NOW PLEASE REPOST THIS PLEASE

Just got off the phone with Dottie @ UCAD I asked if she a comment regarding the trading halt or a rebuttal to the SEC statement. She said something happened in Canada and it snowballed down to them. She said Roger Glenn had just now got in (And she meant in the office where she is located) She said she thought it would all be cleared up in a few hours. I also asked her if it had anything to do with CMKM and she said did not know but Roger just got in and to call back in couple of hours!!!!!!!!!!1

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I'll bet the MMs are cursing us for not shaking. Wallace, they are probably cursing the bashers more because they can't get us to sell.
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That's OK, dwman. Remember....after .0001 (if you even see that) there's BK.

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this is one party i'd like to sit back & watch...lol

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By the way, are you getting me confused with Upside? I MUST be better looking!! LOL

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I don't know about that. Did you happen to see the link I posted to a picture of Will & me at the races? It's a few pages back on this thread. I'm quite the looker if you ask me!

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Originally posted by bill1352:
ya think maybe they begged the SEC to halt trading?? it was the only excuse they could come up with for not being at the party that shareholders would buy. at least vegas got a bunch of rooms filled. this is one party i'd like to sit back & watch...lol

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ya never know maybe all this stuff in south america isnt real but because london & canada are in this i'm guessing it has to do with that stock swap. if south america wasn't real at least to some extent i'd be suprised. gemm was around long before ucad or cmkx its not something they started up. for what its worth cmkx hasn't been drug into this yet. that other thing is from 1998 a bit old. and before you guys start i know 100,000 shares of cmkx is worth what? a cup of 7-11 coffee?? 300,000 for starbucks

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maybe i'm reading this wrong but i've never said i'm going to vegas but yes after today it would be interesting to SIT back & WATCH as the cmkx "faithful" will be there spinning this worse then Kerry after another flip-flop

My comments were not about you. I was speaking in general..

'You' is not really you

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Originally posted by bill1352:
TruthTeller
Member posted October 28, 2004 15:54

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You'd better be carefull about bringing up politics. Just might get Glassman back here again! LOL

Sure do wish we'd hear from the "old" pumpers. I just turned the oven on for crow and I see a nasty old one outside.

By Carol S. Remond
A Dow Jones Newswires Column

NEW YORK (Dow Jones)--Canadian securities regulators in the province
of Saskatchewan have issued an order temporarily enjoining insiders of
CMKM Diamonds Inc. (CMKX) from selling the company stock to residents.

According to the order issued by the Saskatchewan Financial
Services Commission, Urban Casavant, David Desormeau and Melvin O'Neil
traded shares of CMKM Diamonds and its predecessor Casavant Mining
Kimberlite International, "when they were not registered pursuant to
section 27 of the Act."
The order also states that Casavant, Desormeau and O'Neil have,
"with the intention of effecting trades in the securities of (Casavant
Mining and CMKM) made statements which they know or ought reasonably
to know are misrepresentations."
The order expires Nov. 9. It's unclear how CMKM Diamonds and the
persons named will respond to the order.
CMKM president and large shareholder Casavant wasn't immediately
available for comment. O'Neil, CMKM Diamonds' spokesperson was also
unavailable. Desormeau is named as secretary and treasurer of Casavant
International Mining Corp. in the state of Nevada's corporate
database. Desormeau wasnt' immediately available for comment either.
Meanwhile, Roger Glenn, a lawyer representing CMKM Diamonds, didn't
return a telephone call seeking comment.
CMKM Diamonds has been the subject of three "In The Money" columns
which highlighted its huge daily trading volume and the lack of
information surrounding the company and its mineral claims. According
to the corporation department of the state of Nevada, there are
currently 800 billion shares of CMKM authorized.
Billions of CMKM shares trade daily but because it trades on the
unregulated Pink Sheets, the company doesn't have to provide any
financial information to its shareholders.
Although CMKM has declined to say just how many shares are
outstanding, a recent dividend payment related to U.S. Canadian
Minerals Inc. (USCA)'s acquisition of 5% of CMKM Diamonds' mineral
claims indicated that some 780 billion shares had been issued. CMKM
Diamonds shares were recently changing hands at about $0.0001, down
50% on the day.
Separately, the Securities and Exchange Commission suspended trading
in the shares of U.S. Canadian Minerals earlier Thursday. The SEC said
it took action because of questions regarding the accuracy of publicly
disseminated information regarding U.S. Canadian Minerals' financing
and mining activities and the value of its assets. The SEC said it has
been assisted in its inquiry into U.S. Canadian Minerals' public
statements by the NASD, the Saskatchewan Financial Services Commission
and the United Kingdom Financial Services Authority.
U.S. Canadian Minerals and CMKM Diamonds are holding a combined
party for their shareholders in Las Vegas this weekend.

(Carol S. Remond is an award-winning columnist and one of four who
write the "In The Money" feature. Most recently, she shared a 2003
Best of Business Award from the Society of Business Editors and
Writers for her role in Dow Jones' team coverage of the Canary Capital
mutual fund trading scandal.)

-By Carol S. Remond; Dow Jones Newswires; 201 938 2074;
carol.remond@dowjones.com

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Originally posted by safeguard:

NEW YORK (Dow Jones)--Canadian securities regulators in the province
of Saskatchewan have issued an order temporarily enjoining insiders of
CMKM Diamonds Inc. (CMKX) from selling the company stock to residents.

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Roger Glenn who worked for the SEC knows exactly what he is doing. The basher will scare all of you guys but don't let them get too you.

CMKX PLAM IS UNFOLDING AS WE SPEAK!!!!!!!!

THERE IS NO WAY YOU CAN LOSE ON CMKX!!!!!! NO WAY. TRUST ME. @0.0001 THAT IS THE LOWEST A STOCK CAN BE AT. LOL!!!!!!

WALLACE I AM GETTING MY CIGAR READY!!!!!

Roger Glenn who worked for the SEC knows exactly what he is doing. The basher will scare all of you guys but don't let them get too you.

CMKX PLAN IS UNFOLDING AS WE SPEAK!!!!!!!!

THERE IS NO WAY YOU CAN LOSE ON CMKX!!!!!! NO WAY. TRUST ME. @0.0001 THAT IS THE LOWEST A STOCK CAN BE AT. LOL!!!!!!

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CMKX PLAM IS UNFOLDING AS WE SPEAK!!!!!!!!

THERE IS NO WAY YOU CAN LOSE ON CMKX!!!!!! NO WAY. TRUST ME. @0.0001 THAT IS THE LOWEST A STOCK CAN BE AT. LOL!!!!!!

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The "plam" is unfolding alright, more like unraveling. .0001 is the lowest eh? What about a reverse split, what about liquidation? Oh yeah, welcome back sarki! We've missed you!

I MEANT PLAN NOT PLAM.

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Originally posted by Upside:
Why would I sell? If I did that I'd probably lose interest in it and miss out on all this drama.

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