posted
Hey Upside and partners in crime... These don't look like 'sand bags' to me?LOL O.K. then... http://www.uscanadian.net/video.asp See Yellow River Mining video...Bank. It's just alot longer than a horse race.
[This message has been edited by highwaychild (edited November 03, 2004).]
posted
"The attacks on integrity, on honesty, on intelligence, on motive, on rationale are all unfounded."
Now there's an understatement. It seems to me that it was all the CMKX protagonists that started that crap! In fact, I know it was! How dare anyone bring up a question about CMKX or about the people involved with that company. Remember, this was a CMKX board and they wanted only things brought up that agreed with their positions.
quote:Originally posted by Wallace#1: "The attacks on integrity, on honesty, on intelligence, on motive, on rationale are all unfounded."
Now there's an understatement. It seems to me that it was all the CMKX protagonists that started that crap! In fact, I know it was! How dare anyone bring up a question about CMKX or about the people involved with that company. Remember, this was a CMKX board and they wanted only things brought up that agreed with their positions.
quote:Then, I wonder why the SEC has done nothing about CMKX, Casavant, DeSormeau or Melvin when it appears that the Sask. Fin. Svcs Commission has something to question. It use to be that one overseeing group would communicate directly and quickly with any other affected bodies of surveilance.
Could they be doing just that? Sask. forwarding any information they get to the SEC?
posted
so then why do you waist your time arguing with everyone if you dont care about all these things that you arguing about?
i thing there are issues there. maybe your in denial
quote:Originally posted by WorkAHolic: You dare me.. You pompus ass. Your dare doesn't make me post. How dare you say I have issues. The only issue I have is the low class quality of some of the posters on this board. You've got me all figured out wrong. I don't care if you bash this stock. I don't care if you question the powers that be. I don't care if you're in this stock or not. You have no idea what I'm pissed about.
I welcome dissent and questions. I want to make a prudent investment. I just don't care for the ugliness that some people post on this board. Period. If you think it's all ok, then you are part of the problem. The attacks on integrity, on honesty, on intelligence, on motive, on rationale are all unfounded. Those things are the items that make me mad. Not the question of whether this is going to be big or not.
I don't care if you hate this stock or you hate the administration or you hate the SEC. I don't like the attacks on simple people making simple theories. They laugh, ridicule, humiliate anyone that doesn't think the way they do. They make fun of ordinary people. They are so smart.
They are the hypocrites...plain and simple. That's all I'm about. Exposing the hypocrites. Read my posts. That's all.
I'll take that dare.
[This message has been edited by WorkAHolic (edited November 03, 2004).]
posted
Wallace#1 Member posted November 03, 2004 21:36 -------------------------------------------------------------------------------- Thanks, Up. I didn't check it out when Bill (I think) said the SEC could not suspend because it was a non-reporting company. Maybe I misunderstood him though. Hell, the way I'm going today, maybe it was someone else. Then, I wonder why the SEC has done nothing about CMKX, Casavant, DeSormeau or Melvin when it appears that the Sask. Fin. Svcs Commission has something to question. It use to be that one overseeing group would communicate directly and quickly with any other affected bodies of surveilance.
[This message has been edited by Wallace#1 (edited November 03, 2004).]
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not worth going back & looking but i think i was saying why suspend cmkx. the pps is .0001 to .0002. its not like they gave out false info that drove the pps up only to crash when the truth came out. the only thing halting cmkx now would do is take the last bucks left in cmkx shares out for good. the SEC might as well just let the bankruptcy do that, if that's the next step in the casavant manuver. sad thing is if it did go bankrupt the kool aide ppl would be taking up a collection for UC so he could start up his dream of making millioniares all over again
quote:Originally posted by Upside: originally posted by Wallace #1: Could they be doing just that? Sask. forwarding any information they get to the SEC?
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It is possible. For example, whenever we held up trading in a NYSE listed stock, other exchanges that traded that same stock were concurrently alerted...prior to the public knowing about it.
posted
Has anyone considered what it would mean for CMKX if the USCA SEC inquuiry comes back with everything in order? From my viewpoint, I don't think the SEC even cares about CMKX right now. I think a change in reporting laws let USCA value mineral right which would boost assets by an amount that is speculative and the SEC is checking into their claims of value. I would also think that the SEC would check into why USCA spent so much money to buy into what appears to be a worthless company right now since there is no public information on that company. The SEC is looking out for the shareholder by making sure their valuation of assets is not misleading. If I remember correctly, USCA bought mineral rights from CMKX. If they have valued these rights as well as the ones they owned previously, the SEC might want to see how they came to value CMKX's rights since there is no public information about CMKX. I believe this is why the SEC halted trading, to get more financial information.
That said, I'm still not sure why the SEC spent 2/3 of its memo getting onto the brokers. Makes me wonder why they would even bring them into the release. Any ideas?
So, what happens if the SEC's questions are answered? Will we ever get to see the questions asked? And what does that do to the valuation of all of these companies that are tied together? Any thoughts?
posted
Bill1352 wrote: not worth going back & looking but i think i was saying why suspend cmkx. the pps is .0001 to .0002. its not like they gave out false info that drove the pps up only to crash when the truth came out *************************************
I don't think the pps would matter re the SEC. Two things in question - issuing unregistered shares and misrepresentation - should be enough to take action. IMO
quote:sad thing is if it did go bankrupt the kool aide ppl would be taking up a collection for UC so he could start up his dream of making millioniares all over again
That's pretty funny bill but the sad thing is, you're probably right. Not 10 minutes after everyone lost everything they invested, someone would have a "help Urban" fund going.
Regarding your questions about the broker details in the PR.... I looked at some of the other securities that had been halted, and it appears that the same verbage is used there as well..
quote:Originally posted by skippy: Has anyone considered what it would mean for CMKX if the USCA SEC inquuiry comes back with everything in order? From my viewpoint, I don't think the SEC even cares about CMKX right now. I think a change in reporting laws let USCA value mineral right which would boost assets by an amount that is speculative and the SEC is checking into their claims of value. I would also think that the SEC would check into why USCA spent so much money to buy into what appears to be a worthless company right now since there is no public information on that company. The SEC is looking out for the shareholder by making sure their valuation of assets is not misleading. If I remember correctly, USCA bought mineral rights from CMKX. If they have valued these rights as well as the ones they owned previously, the SEC might want to see how they came to value CMKX's rights since there is no public information about CMKX. I believe this is why the SEC halted trading, to get more financial information.
That said, I'm still not sure why the SEC spent 2/3 of its memo getting onto the brokers. Makes me wonder why they would even bring them into the release. Any ideas?
So, what happens if the SEC's questions are answered? Will we ever get to see the questions asked? And what does that do to the valuation of all of these companies that are tied together? Any thoughts?
posted
Wallace#1, I don't believe the SEC has anything to do with the investigation of the issuing unregistered shares or the misrepresentation, both of these things occurred in Canada where the Saskatchewan Financial Services Commission has authority. The SEC is looking just at USCA and its finances.
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Even though it is being investigated in Canada, it is being traded in the US. Therefore, it still would make sense that the SEC might want to look into the claims of unregistered securities (which could also be traded here) and misrepresentation (which might affect shareholders here). Could be wrong though.
Further, it is a NV company.
[This message has been edited by Wallace#1 (edited November 04, 2004).]
posted
Looks like today might be a slow trading day. I have 19 stocks that haven't even traded yet today. Hope that changes. Maybe because of the election?
Talk to you folks later.
[This message has been edited by Wallace#1 (edited November 04, 2004).]
posted
Skippy, What you posted makes a lot of sense, if all of a sudden the value of their claims skyrockets it might raise an eyebrow or two. The only problem I see is that it's still such a tiny company that I have a hard time believing that the SEC would investigate them on that basis alone. There hast be more to it than that. Another thing is, if their finances are in fact gone over completely by the SEC, CMKX can't help but being drawn into it. The two companies finances are so tightly intertwined that CMKX will probably be looked at purely by coincidence. If they see improprieties there, I think they would have to launch a separate investigation to accuse CMKX of anything. If everything comes away clean, I would say USCA gets a decent pps boost when trading resumes and CMKX goes unchanged, pending the outcome of their Canadian investigation.
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posted
Upside, I don't think the size of the company has anything to do with raising a flag or not. I believe it would be the adjustment of asset value and the market cap exploding by 3x. I think the two together is what set off the flag. Keep in mind it's not the value of their cliams that went up, just the rules of accounting have changed to allow a company to place value on their claims. In the past a company has not been able to place a value on claims for asset valueing purposes. If I understand the SEC rule, the brokers/mm's are supposed to evaluate the financials and report anything unusual. Based on what limited information is available, I believe the brokers set off the alarm as they are supposed to do. Nothing viscious, just pointing to something extremely different from reporting period to reporting period. I agree that CMKX and USCA and a few others are wrapped together tightly. That's why I was wondering what it would imply if USCA came back clean. I also agree that if there is something wrong with the CMKX picture, it will be exposed enough through USCA's investigation to warrent an investigation of CMKX. But if not, then it might imply that there is something yet unseen with CMKX and its valuation.
But I do believe that is USCA comes through clean, there will be a run on all the jv's tied together.
posted
Here's an article from a Saskatchewan newspaper about the CMKX investigation. Pretty much the same information that we already had but it does allude to the fact that the Canadian Commission and the SEC are at minimum sharing information:
By Colin McGarrigle of the Journal Tuesday November 02, 2004
Melfort Journal — The Saskatchewan Financial Services Commission (SFSC) has issued a Temporary Cease Trade Order on a Fort a la Corne diamond company after allegations of misrepresentation and other irregularities under The Securities Act. CMKM Diamonds Inc., formerly known as Casavant Mining Kimberlite International, was the target of the SFSC's Order after a complaint against the company led to an investigation. Melfort resident involved Melfort resident Melvin O'Neil, Urban Casavant and David DeSormeau, who are listed as officers, directors and promoters of the company, were also named in the Order. O'Neil is the Investor Relations Spokesman for CMKM Diamonds Inc. "We had a complaint sometime ago about the company and we did an investigation and this (Cease Trade Order) is the result," explained Vic Pankratz, deputy director of enforcement for the SFSC. While Pankratz was tight-lipped about the details behind the investigation or misrepresentation, a news release stated, "The Securities Division is concerned about the trading activities of the companies as well as news releases they have issued about their operations." CMKM is a fairly new diamond exploration company based out of Nevada that is traded in an over-the-counter market in the United States that is dubbed as "pink sheet" stock. The company claims to own over 1.4 million acres of land in the Fort a la Corne area according to the company Web site. The Order is in place until Nov. 9 or until the company provides sufficient information to the director of the SFSC. "It's up to the company now, or the entities that are cease traded to take steps to provide us with the information that we can consider to see if we can lift the order," said Pankratz. In the Order, the commission stated that CMKM Diamonds Inc. and its respondents (O'Neil, Casavant and DeSormeau) were not registered, traded in securities when no receipt had been issued and made statements which they know are misrepresentations. Until the order is lifted, no shares can be traded. A hearing may be held if the company does not provide sufficient information to the SFSC to consider whether a permanent cease trade order is necessary against the company and the respondents. "We don't know what the company is going to do to respond to our issue here. Right now, the shares of Saskatchewan holders cannot be traded," explained Pankratz. Asked if the shares would be worthless if a permanent order was issued, Pankratz said, "There's a lot of issues that have to be addressed for the order to become permanent and the interest of the shareholders would certainly be paramount in our mind if and when something like that happened." If a hearing is held, Pankratz said that it would be open to the public. No date has been set for a hearing as of yet. America follows suit In a similar move, the U.S. Securities and Exchange Commission (USSEC) also announced a temporary suspension of securities of U.S. Canadian Minerals Inc., which states on their Web site that it has a 20 per cent revenue interest in 500,000 acres of "kimberlite-likely land" in Saskatchewan and has a 25 per cent interest in 27 claims comprised of 22,447 acres located near Smeaton. In their suspension, the USSEC acknowledges the assistance of the SFSC in their decision, which stated that questions have been raised about the accuracy of publicly disseminated information concerning the financing and mining activities and the value of USCM purported assets. U.S. Canadian Minerals Inc. officials and Melvin O'Neil of CMKM refused to respond to questions regarding the suspensions.
quote:Originally posted by Upside: Here's an article from a Saskatchewan newspaper about the CMKX investigation. Pretty much the same information that we already had but it does allude to the fact that the Canadian Commission and the SEC are at minimum sharing information:
By Colin McGarrigle of the Journal Tuesday November 02, 2004
Melfort Journal — The Saskatchewan Financial Services Commission (SFSC) has issued a Temporary Cease Trade Order on a Fort a la Corne diamond company after allegations of misrepresentation and other irregularities under The Securities Act. CMKM Diamonds Inc., formerly known as Casavant Mining Kimberlite International, was the target of the SFSC's Order after a complaint against the company led to an investigation. Melfort resident involved Melfort resident Melvin O'Neil, Urban Casavant and David DeSormeau, who are listed as officers, directors and promoters of the company, were also named in the Order. O'Neil is the Investor Relations Spokesman for CMKM Diamonds Inc. "We had a complaint sometime ago about the company and we did an investigation and this (Cease Trade Order) is the result," explained Vic Pankratz, deputy director of enforcement for the SFSC. While Pankratz was tight-lipped about the details behind the investigation or misrepresentation, a news release stated, "The Securities Division is concerned about the trading activities of the companies as well as news releases they have issued about their operations." CMKM is a fairly new diamond exploration company based out of Nevada that is traded in an over-the-counter market in the United States that is dubbed as "pink sheet" stock. The company claims to own over 1.4 million acres of land in the Fort a la Corne area according to the company Web site. The Order is in place until Nov. 9 or until the company provides sufficient information to the director of the SFSC. "It's up to the company now, or the entities that are cease traded to take steps to provide us with the information that we can consider to see if we can lift the order," said Pankratz. In the Order, the commission stated that CMKM Diamonds Inc. and its respondents (O'Neil, Casavant and DeSormeau) were not registered, traded in securities when no receipt had been issued and made statements which they know are misrepresentations. Until the order is lifted, no shares can be traded. A hearing may be held if the company does not provide sufficient information to the SFSC to consider whether a permanent cease trade order is necessary against the company and the respondents. "We don't know what the company is going to do to respond to our issue here. Right now, the shares of Saskatchewan holders cannot be traded," explained Pankratz. Asked if the shares would be worthless if a permanent order was issued, Pankratz said, "There's a lot of issues that have to be addressed for the order to become permanent and the interest of the shareholders would certainly be paramount in our mind if and when something like that happened." If a hearing is held, Pankratz said that it would be open to the public. No date has been set for a hearing as of yet. America follows suit In a similar move, the U.S. Securities and Exchange Commission (USSEC) also announced a temporary suspension of securities of U.S. Canadian Minerals Inc., which states on their Web site that it has a 20 per cent revenue interest in 500,000 acres of "kimberlite-likely land" in Saskatchewan and has a 25 per cent interest in 27 claims comprised of 22,447 acres located near Smeaton. In their suspension, the USSEC acknowledges the assistance of the SFSC in their decision, which stated that questions have been raised about the accuracy of publicly disseminated information concerning the financing and mining activities and the value of USCM purported assets. U.S. Canadian Minerals Inc. officials and Melvin O'Neil of CMKM refused to respond to questions regarding the suspensions.
So alot of this complaint is for fruad. CMKX saying they "own" the property.... that's obviously WRONG!
posted
Good morning to bill, will, up, trading, wallace and others. I think I've picked up Wallace's habit of dropping out for a day or two only to return. Wallace, I'm glad you do return.
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I dont think they ever said that they "owned" the land, I beleive the scenario was that they "owned" the mineral rights of the property.
Please correct me if I am wrong.
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Jeal, there has been many people speculating on the value of the land CMKM "OWNS" on these chat boards for quite some time.
Even though some posted that CMKM only had mineral rights on the claims and didn't actually own any land, it didn't stop the rumours of the great value that the land could be sold for.
posted
I've been doing a little research on otcbb and pink sheet trading halts and from what I can tell, it's extremely rare, in fact it's only happened 3 other times this year. One was a pink sheet and the other two were otcbb listed. Those three halts were all halted under one of the "T" codes which relate to pending news. UCAD is the first one this year to be halted due to an SEC investigation. This doesn't appear to be commonplace at all so my hunch is that this is something pretty major. I'm not saying it's a good or bad thing because regardless of which theory you subscribe to, postive or negative, you can make a case to support it here. This could get interesting!
Morning dwman.
[This message has been edited by Upside (edited November 04, 2004).]
quote:Originally posted by dwman: Good morning to bill, will, up, trading, wallace and others. I think I've picked up Wallace's habit of dropping out for a day or two only to return. Wallace, I'm glad you do return.
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Good evening, dwman. Are you trying to say I am a drop-out? LOL Just kidding.
Been napping all day. Not many, but sold some free shs I had...only about $600.
posted
i'd say good morning dw but its 6pm here now. some days i'm in the office & some on the road. today was a road day.........the sec thing with ucad seems to be in my opinion because of all the differant mining claims in south america. they have been releasing a few things that would suggest a very nice income in the very near future but as of the last report had no money to get into these differant things. most stocks will release a pr about financing and where they got money to expand. ucad has only listed 1 such pr. they have not said anything about income from canada in the near future so my guess is that's not part of the investigation. as all the near term income they have talked about is in south america there is no way for investers to check out any claims made by ucad. if ucad can show these mines are real and doing as they say all will be well. plus i dont think cmkx will come into play in this investigation unless those mines are fake then all partners of ucad might come into the spotlight. either way clearing ucad means nothing to cmkx, it wouldn't give any legitamacy to cmkx other then keep our dividends safe. as for cmkx & canada, thats about if they were trading shares legally again nothing to do with mineral rights or claim value
[This message has been edited by bill1352 (edited November 04, 2004).]
posted
bill,,, I guess it was afternoon when I said Good Morning. Oh well, chalk it up to staying up most of Tuesday night. I do think you have a good point about the sec motives. I must admit I am a bit concerned about some of the pics from the mine. We can't hear the duck quack so even though it looks like a duck, it might not be unless we can see it walk. lol And what was the pic of all those sacks being unloaded. Was that supposed to be gold ore?
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posted
"We can't hear the duck quack so even though it looks like a duck, it might not be unless we can see it walk. lol" *********************************
Looks like you have been watching this thread for quite a while! LMAO
posted
I had a goose that I named cmkx but he hooked up with a flock of wild geese going south. He's probably in that equador mine. lol j/k
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posted
dwman, I've got a wild goose nesting in my back yard that seems to answer to "Urban". That couldn't be yours could it? He seems to like bright, shiny, sparkly objects too although I can't imagine where he would have ever seen one before.
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