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a few ppl in here point to the dividends as proof to the goodness of UC. dividends that put nothing but unusable paper in our accounts. companies that may not even be around to have the shares unrestricted. not long ago i felt ok about cmkx because it looked as if these companies would cover any cmkx loses but then the ucad report came out. when you see things in a report like ucads it brings a lot more doubt into the picture.
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GOING CONCERN - The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company is in the development stage, has no operating revenue and has incurred cumulative net losses of approximately $18,911,000 since inception.
These conditions give rise to substantial doubt about the Company's ability to continue as a going concern. The financial statements do not include adjustments relating to the recoverability and classification of reported asset amounts or the amount and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company's continuation as a going concern is dependent upon its ability to obtain additional financing, successfully develop its contemplated plan of operations, and transition, ultimately, to the attainment of profitable operations. Also, the Company's new business calls for the acquisition of various types of mining claims of precious metals. Management believes its due diligence procedures will assure the acquisition of the rights to profitable operational means that will enable them to maintain positive cash flow from its operations in the near future.
On March 23, 2004, the Company acquired approximately 85% of the outstanding capital stock of Juina Mining Corporation, a Nevada corporation ("Juina"). The Company acquired the stock from James D. McFadden, Mark Hutchison and Richard Taulli in exchange for 833,334 shares, 179,091 shares and 150,000 shares respectively, of the Company's common stock and for a $200,000 private placement. At the time of this acquisition, there was an understanding between the Company and Mr. Hutchison that he would become a Director of the Company. The Company has the rights, exercisable in whole or in part at the option of the Company, for one year from the date of exchange in the case of Messrs. McFadden and Hutchison and 120 days from the date of exchange in the case of Messr. Taulli to repurchase the shares of its common stock issued to each of Messrs. McFadden, Hutchison and Taulli, at a price of $1.33 per share.
Juina owns 49% of a joint venture called Juina Mining Mineracao, Ltda. ("JMML"). The remaining 51% of JMML is owned by DIAGEM International Resources Corp., a Canadian corporation ("DIAGEM").
The sole asset of JMML is an 86% working interest in the mineral and mining rights to 2,471 acres of land in the District of Juina, Mato Grosso, Brazil ("Property 1000") as well as the equipment and processing facility appurtenant thereto.
-------------------------------------------------------------------------------- At present, there are no operations being conducted by JMML because, among other considerations, the required permits have not been issued by the relevant governmental agencies. There is no assurance that any such permits ever will be issued. Moreover, JMML is controlled by Diagem, which has publicly disclosed that it considers the company to be inactive
quote:Originally posted by bill1352: 780 billion times wouldn't change it much. it baffles me in how 3 dividends split to all shares comes out around 780 billion 1 is twice that yet ppl still say they need to wait & hear from cmkx as to the o/s. cmkx has told us the o/s 3 times with dividends.
Bill, is it possible that UC may be planning to retire a whole bunch of shares at the last minute and is leaving the impression of 780 to throw off the MMs?
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dw: Why would you think that UC is going to retire billions of shres? You really think he has our interest at heart? To throw off the MM's? To throw them off of what? I don't see these guys doing anything, for anyone, but themselves.
quote:Originally posted by dwman: Bill, is it possible that UC may be planning to retire a whole bunch of shares at the last minute and is leaving the impression of 780 to throw off the MMs?
quote:Originally posted by will: dw: Why would you think that UC is going to retire billions of shres? You really think he has our interest at heart? To throw off the MM's? To throw them off of what? I don't see these guys doing anything, for anyone, but themselves.
Will, I don't really have a deep feeling that he is planning to do that. My comment was in response to bill's wondering how some of us could still find the slightest ray of hope in this stock. You may well be right in having a dim view of cmkx and crew. Only time will tell.
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I know that previous post didn't answer your question. lol. My thinking is muddled. It crossed my mind that it might really trap the MMs if they thought the O/S was 18 billion and it turned out to be some gosh aweful low figure. Like I said, my thinking is muddled.
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i agree with will. throw the mm's off what? ppl still say its naked shorted, ok. i had a sell in yesterday for .0002 it closed at .0003 so at some point it hit at least .00025. now if there was a mm that was short ya think he might have picked up 2 million shares at less then market? the mm's could care less about cmkx. if you read some one the wall street articles about cmkx that have been posted in here on past threads the cmkx faithful are almost a joke around the market. if the cmkx race car has kool-aid ad's on it next year watch out.
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dw...i do hope i'm wrong for your sake & mine. i hate lossing money & i hate having something i have recommended in the past turn out the way it seems this is. there is a part of me that says don't sell no matter what, just hold & hope. but then reality sets in & i look at the small info we do have & holding seems foolish. after ucads report it seems even more foolish as this report states no mineable kimberlite yet found in canada. the air survey was supposed to show at least 100 target spots yet they are only drilling 1 hole at a time as of the last pr. cmkx hasn't said anything about anything in quite a while. we just found out they excerised an option on gemm, a mine that the majority owner calls inactive because they can't get permits. cmkx bought into an uranium mine that might have something mineable but again it has been looked at by a few companies in the past with no real results. the only positive info is a gold mine that is supposed to be a working mine but with 780 billion shares it won't help much. as for retiring shares, uc would have to buy off the market any that hasn't been sold yet. with only 1 gold mine bringing in money he would have to buy the o/s down to less then 1 billion to bring any value & then reduce the a/s to that point or dilution would be possible all over again & that would take $156 million to do according to the dividend split numbers. i don't see that as possible.
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I still think there has to be a reverse split of enormous proportions IF CMKX is ever to survive. Anybody else think a R/S would solve a few problems??
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quote:Originally posted by bill1352: dw...i do hope i'm wrong for your sake & mine. i hate lossing money & i hate having something i have recommended in the past turn out the way it seems this is. there is a part of me that says don't sell no matter what, just hold & hope. but then reality sets in & i look at the small info we do have & holding seems foolish. after ucads report it seems even more foolish as this report states no mineable kimberlite yet found in canada. the air survey was supposed to show at least 100 target spots yet they are only drilling 1 hole at a time as of the last pr. cmkx hasn't said anything about anything in quite a while. we just found out they excerised an option on gemm, a mine that the majority owner calls inactive because they can't get permits. cmkx bought into an uranium mine that might have something mineable but again it has been looked at by a few companies in the past with no real results. the only positive info is a gold mine that is supposed to be a working mine but with 780 billion shares it won't help much. as for retiring shares, uc would have to buy off the market any that hasn't been sold yet. with only 1 gold mine bringing in money he would have to buy the o/s down to less then 1 billion to bring any value & then reduce the a/s to that point or dilution would be possible all over again & that would take $156 million to do according to the dividend split numbers. i don't see that as possible.
Excellent points bill. I too recommended this stock to friends. My fear is that they may have invested money that they need even though I warned them strongly that this would be an extremely high risk stock. I can afford to lose what I paid for my 18 million shares but I worry about them. My prayer is that cmkx will do well and they can prepare for their young children's college. I keep telling myself that we were told that some big investors were standing on the side awaiting our having a fully reporting status. Bill, I want to tell you how much I have enjoyed being able to draw on your knowledge as I have with Will and several others on this board. I include wallace in this statement of appreciation also. Don't give up completely. Stranger things have happened. I just can't remember them right now. lol
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I grew up (8 years) in Ecuador. When the press release says, the area "can benefit from more advance technology," for mining and processing, I don't doubt it. I expect that much of the mining in Ecuador is by pick and shovel with the more advanced mines using technology sold to them when it became obsolete else where in the world. That is just the way things are down there. Yet to be exploited by the newest methods and volumes.
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Just finished up on the hot water heater. Ran into all kinds of problems, including running new hot and cold water lines, redoing the gas line, removing moldings and moving the furnace a bit to get the damn thing in. 12 stinking hours! They have 4 kids so really needed it.
Saw your note of appreciation. Thank you.
Guess there is no new news on CMKX since none was posted.
As for USCA, a lot of that information you saw in their recent 10Q also appeared in previous filings as well. That was the reason I felt very uneasy about it from the beginning. However, some seem to have made money from it.
quote:Anybody else think a R/S would solve a few problems??
Depends on what the actual float is. If it turns out to be the full 800 billion, that is absolutely what they need to do. Shareholders will scream but in my opinion it would lend them an air of credibility. Face it, Nevada is an unregulated state, they can continue to raise their authorized and issued to whatever ridiculous amount they want but each increase will only deteriorate what little bit of shareholder confidence there is left in this company. A reverse on the other hand, if done properly, just might send a message that they are for real.
You wrote: "A reverse on the other hand, if done properly, just might send a message that they are for real." ***********************************
I do not understand what you mean by "if done properly". At this point, I see nothing that could convince me they could ever be "for real"...R/S or otherwise. I truly believe they are beyond any redemption whatsoever. Hope I am wrong for so many of you.
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By "properly" I mean not just reversing the outstanding shares. It has to apply to the authorized as well. Reduce that by the same factor, or slightly less, leaving some room to issue shares as needs arise. Couple that with a firm business plan, released to the shareholders, and it might do the trick. What I think would happen though is if they elect a reverse, they would split the o/s only, leaving the a/s at 800 billion or wherever it may now be, and start dumping like crazy again. That seems to be the pattern that most of the other pennies follow.
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To trick mm? This isn't a video game or a sitcom you clown. Hes throwing off nobody except for investors.. I can't believe the idiotic scenarios investors put out to try and save this rotting ship wreck. The mere fact that the OS is at 779 BILLION when it was a fact that shares were being retired is allllll the information needed. This is the same stupid Urban that hosted a party for no news. This is the same urban that was ok with Melvin flat out lying on paltalk about geologists eyes lighting up. Stupid crooks if they were in front of me i'd egg them. God damn weasels tell half truths and flat out lies time and time again... and nobody can do anything cause they are pink stocks.
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quote:Originally posted by Upside: originally posted by ed19363: Depends on what the actual float is. If it turns out to be the full 800 billion, that is absolutely what they need to do. Shareholders will scream but in my opinion it would lend them an air of credibility. Face it, Nevada is an unregulated state, they can continue to raise their authorized and issued to whatever ridiculous amount they want but each increase will only deteriorate what little bit of shareholder confidence there is left in this company. A reverse on the other hand, if done properly, just might send a message that they are for real.
Deteriotate??? You need to be bathing in koolaid to have any faith in CMKX after they went from 500 BILLLLION to 800 Billion to what now 1 trillion!! CMKX mgmt == 3 stooges of wall street ... if they get away with it they'll keep doing it again and again....
Just finished up on the hot water heater. Ran into all kinds of problems, including running new hot and cold water lines, redoing the gas line, removing moldings and moving the furnace a bit to get the damn thing in. 12 stinking hours! They have 4 kids so really needed it.
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12 hours of hard work for you, Wallace, but a lifetime of gratitude from the 4 little kids. Good for you!!! I salute you, sir. Don
[This message has been edited by dwman (edited November 18, 2004).]
posted
Bill, That's what I thought when I saw it first. But for the second divy, Record Date is 10/29/2004 and Payment Date is 11/30/2004 (ratio most probably different). Remember UCAD divy was given out and taken back by some brokers before the actual distribution? God only knows why CIM (private) split ratio is different. May be UC wants us to believe there is an NSS of 1.5T-779B.
quote:Originally posted by bill1352: its the second gemm dividend truth. the first was from the first deal second is from the option which they just exercised a month ago. what has me wondering is the option called for 30 million or so more shares yet the split number is the same but of course 30 million split 780 billion times wouldn't change it much. it baffles me in how 3 dividends split to all shares comes out around 780 billion 1 is twice that yet ppl still say they need to wait & hear from cmkx as to the o/s. cmkx has told us the o/s 3 times with dividends.
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Really quite around here. I gues Upside is still digging in his back yard. Don't know where Will and Bill are...probably trying to convince Upside those aren't diamonds he's digging up and Wallace gave up and is now a water heater repair man. Just kidding guys.
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There are only a few ways to say "No news again today", then it gets boring.
quote:Originally posted by dwman: Really quite around here. I gues Upside is still digging in his back yard. Don't know where Will and Bill are...probably trying to convince Upside those aren't diamonds he's digging up and Wallace gave up and is now a water heater repair man. Just kidding guys.
quote:I guess Upside is still digging in his back yard.
Still digging. first test hole intersected kimberlite at a depth of 8" through 14". Lab results pending. Second test hold yielded signigicant calcium deposits at 10" depth, old dog bones. Converging on my next site (beneath an old evergreen tree) with my drill team (me and my shovel) shortly. Will p/r all results unless a gag order is imposed or I enter a quiet phase. In the meantime USCA wants a 5% option on all mineral rights to the remainder of my back yard for $15,000,000. Negotations underway.
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hey folks,...been working all day. i found more diamonds in my vacuum equipment then cmkx has today. that is if its real. i should go to canada & plant it on cmkx land see what kind of pr we get out of that find...lol. founnd coins, rosary's, fake jewlery & 1 looks to be diamond ring. was from a church return duct system, floor vents. still worth more then what cmkx has found...lol
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You won't get any PR about this soon. We in a quiet period now It comes once every couple of months
quote:Originally posted by bill1352: hey folks,...been working all day. i found more diamonds in my vacuum equipment then cmkx has today. that is if its real. i should go to canada & plant it on cmkx land see what kind of pr we get out of that find...lol. founnd coins, rosary's, fake jewlery & 1 looks to be diamond ring. was from a church return duct system, floor vents. still worth more then what cmkx has found...lol
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sold up...lol a few yrs ago i got about 10 pounds of coins from a church floor return system dating back to 1901, trouble is that after yrs of dirt blowing across then they aren't worth much, still have them, plus other jewlery
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quote:Originally posted by Upside: originally posted by killpack: I'm smelling a joint venture here. We'll issue a p/r after market close right before a long weekend:
"Upsides yard found to be Kryptoniferous"
Joint venture? Did someone say joint? I that part of the ... what was it .... crack that bill talked about...or was that not bill? LOL
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