quote:Originally posted by Upside: originally posted by legaleagle: And why did that explanation have to come through United Carina and not CMKX who supposedly is the operator of these claims? Wait, I already know the answer, quiet period, right?
Because CMKX is in a self-imposed "quiet" period, until fully reporting. It is important, it is effective, and it is necessary; to remain quiet during this time. It may irritate impatient shareholders, but the attorney will still do what is wise and prudent for the company to achieve their goals of full reporting status.
quote:Originally posted by legaleagle: Because CMKX is in a self-imposed "quiet" period, until fully reporting. It is important, it is effective, and it is necessary; to remain quiet during this time. It may irritate impatient shareholders, but the attorney will still do what is wise and prudent for the company to achieve their goals of full reporting status.
Hello bredren!! I also say this five times a day while kneeling towards Saskatchewan. Urban be merciful, your praise be upon us.
posted
By: diamonddays0 14 Dec 2004, 03:09 AM EST Msg. 131049 of 131137 Jump to msg. # *Today's Lesson* - Quiet Period or Not:
Classmates here talk about Quiet Periods (QP) quite often and speak with a lot of authority. But no one can seem to define a "Quiet Period", determine its length, or the reasons for it. No one knows whether there is a mandatory QP or voluntary QP or both. Better yet, do both exist? I think you will be surprised by the answer.
ZoomingStocks recently pointed us to a great educational tool on Quiet Periods. Go to this site: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=304486 and download the paper at the bottom of the page. (31 pages). Your assignment is to quickly skim it if not read it entirely. The following points are some facts from the paper and is not my opinion.
1] Definition: "A pre-earnings announcement quiet period is the interval immediately prior to a companys earnings announcement during which company officials abstain from comments on the upcoming earnings release."
2] When does it start: "This period of non-disclosure usually begins immediately prior to the end of the fiscal quarter and ends at the time of the earnings announcement." (Note: our last PR came immediately prior to the last fiscal quarter on 10/27!)
3] How long?: As you can see above in #2 it lasts until earnings are filed. But typically: "A survey of 324 firms with quiet periods by NIRI, 2001, finds the mean (median) length of this time period is 25 (21) days."
4] Mandaroty or Elective?: The most debated question is whether this Quiet is imposed by the SEC or voluntary. Answer: "Because the SEC does not require pre-earnings announcement quiet periods, use of quiet periods is voluntary in the U.S." It naturally follows that we are voluntarily quiet and that no company is mandated to be silent by the SEC.
5] Why be silent then you ask?: Well you will need to read the paper above for an "A" answer. But in short "By increasing the scope of illegal disclosure-related actions, FD has likely increased the legal costs of disclosure immediately prior to earnings announcements. In response, firms may be more likely to adopt quiet period policies or decline to comment prior to an earnings release." In other words... Regulation FD imposes liabilities for un-fair disclosure. So they just shut up alltogether. In fact... here is an exerpt from a comment letter on the Regulation FD: "By requiring companies to make rapid-fire legal judgements about whether any given communication is material, thereby triggering regulatory obligations, the rule may be more likely to deter companies from transmitting information to the markets than to foster more information."
My opinion (and only my lay person opinion): The quiet period is voluntary but is prudent legally to protect the company from suits from your fellow disgruntled shareholders who, looking back, realize that they made bad trading decisions. They want to blame someone. Regulation FD makes CMKX liable if they don't be quiet. Further... (In my opinion) we cannot guage the timing of the filing by the Quiet Period because there is no set period. Perhaps this analysis is only meant to apply to earnings statements... but the paper seems (to me) to indicate these facts relate to ALL QPs.
Disclaimer: I am making this post based solely on the information in the paper provided above. This is a springboard for discussion and I welcome debate and DD contributions by others on this topic. I have quoted the paper extensively and the rest is only my opinion. I am not an investment advisor.
quote:I can't argue with that kind of Due Diligence.
No you can't argue it because it's true. Just like the gag order, the naked short theory, etc., it's another shareholder created comfort story to avoid facing what is most likely the truth about this company.
posted
United Carina and its 50/50 joint venture partner, Consolidated Pine Channel, acquired by staking 138,240 hectares (341,586 acres) approximately 70 kilometres southwest of Ashton Mining of Canada's K296 kimberlite pipe located in the Buffalo Hills of Northern Alberta. Ashton's exploration in the area has discovered 38 kimberlites, of which 25 are diamondiferous.
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this pr has nothing to do with cmkx..uca & consolidated were in business long before they joined any claims with cmkx. notice the 50/50 joint venture part??? or doesn't that count just like dividend splits into 780 billion shares doesn't equal the o/s???
posted
1. Why have a quiet period before reporting earnings, when there are no earnings to report.
2. Quiet periods give a company a reason to hide things that shareholders should know.
3. A quiet period should not preclude the company from issuing a PR stating "We are still drilling", "We are still in existence", or "We are still alive and breathing."
4. It's all a load of convoluted crap until someone affiliated DIRECTLY with the company comes out and says something. All the rumors and speculation in the world doesnt make a hill of beans.
5. The length of this quiet period greatly exceeds a reasonable amount of time, and makes the shareholders think it's a shady company with something to hide.
6. I dare anyone WITH CMKX to deny any of the above. Otherwise, issue a damned PR and let us know if we've been had or not. Just a simple request requiring a simple answer from someone who KNOWS instead of GUESSES.
7. IMO, IMHO, BULL****!!!!
Posts: 1772 | From: Oxford, PA, USA | Registered: Oct 2004
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posted
Because they do not answer our "whining", they must be a scam, right?. Very complex scam with so many holdings:
CDLIC Global Moderator CMKMs Many Company Holdings & Partners as 8/16/04 « Thread started on: Aug 15th, 2004, 04:46am »
-------------------------------------------------------------------------------- CMKM Company Holdings and Partners As of 8/16/04
Below is a list of CMKM's holdings as of 8/14/04. This list was not 1/3 it is today a month ago. Mr. Casavant is rapidly building a compnay with the assistance E & A, his law firm, and Mr. D. Roger Glenn, his attorney and partner in E & A. I believe this list will continue to grow over the next few weeks an months. Stay tuned!
posted
its not worth picking apart legal but that list is wrong in a number of places, wrong %'s, wrong controling interests, and most of all none of it is making money except the gold mine
Posts: 3651 | From: Algonac, MI. 48001 | Registered: Jun 2004
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quote:Originally posted by Upside: originally posted by legaleagle: No you can't argue it because it's true. Just like the gag order, the naked short theory, etc., it's another shareholder created comfort story to avoid facing what is most likely the truth about this company.
OH UPSIDE!!!! Don't say things like that when I'm standing on top of my outhouse ready to jump.
quote:Because they do not answer our "whining", they must be a scam, right?.
Yes, it might mean just that and your use of the word "whining" is a cheap attempt on your part to make the investors who are demanding answers appear to be childish and ill-informed and that's not the case. These are legitimate questions that have persisted for well over a year now and the company has used every convoluted theory that inexperienced investors have conjured up as an excuse to avoid answering them.
[This message has been edited by Upside (edited December 14, 2004).]
posted
Thank you very much. I didnt think I was the only one who wants some answers. Ed
quote:Originally posted by Upside: originally posted by legaleagle: Yes, it might mean just that and your use of the word "whining" is a cheap attempt on your part to make the investors who are demanding answers appear to be childish and ill-informed and that's not the case. These are legitimate questions that have persisted for well over a year now and the company has used every convoluted theory that inexperienced investors have conjured up as an excuse to avoid answering them.
[This message has been edited by Upside (edited December 14, 2004).]
Posts: 1772 | From: Oxford, PA, USA | Registered: Oct 2004
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quote:Originally posted by Upside: originally posted by legaleagle: Yes, it might mean just that and your use of the word "whining" is a cheap attempt on your part to make the investors who are demanding answers appear to be childish and ill-informed and that's not the case. These are legitimate questions that have persisted for well over a year now and the company has used every convoluted theory that inexperienced investors have conjured up as an excuse to avoid answering them.
[This message has been edited by Upside (edited December 14, 2004).]
I want answers just as much as you do. The difference is, that I know I have to wait until Roger Glenn is done with the negotiations. You may say that you are demanding answers, however, you have no right to demand answers because they have no obligation to give you any. It is a pink sheet stock for now. They don't have to answer. And in Roger Glenn's case he cannot give us answers until he has completed negotiations with the SEC and the Market Makers. He is dealing with the SEC investigation of UCAD / USCA, he is attempting to make us a fully reporting company before the Jan 3, SHO and move us up to a higher exchange. He is supervising an audit, rules and regulations compliance, the entire CMKX et alia companies, calculations of NS positions and how to prevent a collapse of the Market Making system during the changes. Every Market Maker involved in the short, has a securities attorney who is calling him every day with recommendations and demands. He has a battery of politicians hounding him all of the time for their favorite "player". He has folks like Spelliscy and Seagrove, poking him with sticks. He has a full team of JV's each wanting to go their own way, and do their own thing. He has law firm partners who are always giving him suggestions and requiring him to report to the senior partners how this thing is proceeding. And those partners are being pressured from the same sources. At the same time, CMKX is proceeding on with their acquisitions and investments; all under some cover for security reasons. He must supervise those activities as well, to keep the company functional and progressive.
All of this to say, he already has "demands" being placed on him, by people with more than a couple of hundred dollars tied up. He has real demands on him, and sorry, when you stay in here day after day, making "demands" on a person with these kinds of responsiblities; it looks a whole lot like "whining". Yes, it even looks "childish" and "ill-informed". All IMO
[This message has been edited by legaleagle (edited December 14, 2004).]
posted
The entire CMKX et alia companies? Now that's funny! You're making CMKX out to be a huge multi-national corporation with ties all over the world when in fact they are a fly by the seat of their pants pink sheet company with revenues that probably don't rival the weekly allowance your parents used to give you. I'll grant you that Mr. Glenn might be an upper echelon attorney and he has an important job to do but it isn't for our benefit. To believe that Mr. Glenn is going to bring about the demise of naked shorting through CMKX is a fools folly at best and yes, something a very inexperienced investor would choose to believe.
Posts: 5729 | From: Wisconsin | Registered: Sep 2003
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quote:Originally posted by Upside: The entire CMKX et alia companies? Now that's funny! You're making CMKX out to be a huge multi-national corporation with ties all over the world when in fact they are a fly by the seat of their pants pink sheet company with revenues that probably don't rival the weekly allowance your parents used to give you. I'll grant you that Mr. Glenn might be an upper echelon attorney and he has an important job to do but it isn't for our benefit. To believe that Mr. Glenn is going to bring about the demise of naked shorting through CMKX is a fools folly at best and yes, something a very inexperienced investor would choose to believe.
I posted the list of the the JV partners above. They may not be Microsoft, but they have needs and concerns that Roger Glenn must address.
And we do have holdings in three countries, and possibl more.
But unlike you, I cannot address the revenues yet because they have not been reported.
What benefits CMKX and JV's does benefit me as a shareholder.
I didn't state that Glenn or CMKX would bring about the demise of naked shorting, but I do believe that if a deal were not being cut behind the scenes, and this stock ran, it could financially bankrupt a couple of the MMs.
posted
The deal being cut behind the scenes, I think I've read about that one. Is that the one where billions of shares are being given to the mm's so they can minimize their pain as CMKX's pps rises above .50 or so? I seem to remember they were coming from Nevada Minerals inventory of shares or something like that?
Posts: 5729 | From: Wisconsin | Registered: Sep 2003
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quote:Originally posted by Upside: The deal being cut behind the scenes, I think I've read about that one. Is that the one where billions of shares are being given to the mm's so they can minimize their pain as CMKX's pps rises above .50 or so? I seem to remember they were coming from Nevada Minerals inventory of shares or something like that?
I strongly suspect that we will never know the terms of the deal, only see the impact.
posted
We'll never know the terms of the deal because I strongly suspect there is no such deal nor is the naked short position real.
Posts: 5729 | From: Wisconsin | Registered: Sep 2003
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posted
I know RG is helping us to be fully reporting (I think). Are you speculating the Jan 3rd date?
quote:Originally posted by legaleagle: he is attempting to make us a fully reporting company before the Jan 3, SHO and move us up to a higher exchange.
[This message has been edited by TruthTeller (edited December 14, 2004).]
posted
Yes indeed UpMan, there is no deal, you are absolutely correct.
This kind of nonsense makes me laugh:
"And in Roger Glenn's case he cannot give us answers until he has completed negotiations with the SEC and the Market Makers. He is dealing with the SEC investigation of UCAD / USCA, he is attempting to make us a fully reporting company before the Jan 3, SHO and move us up to a higher exchange."
Some piss ant worthless company that doesn't have diamond one suddenly is negotiating with the SEC and MM's. Give me a f*cking break, will ya ! Negotiating with the SEC and MM's to square a NSS of the century is done all the time, don't you know that? It's routine, it's customary, it's bull****, is what it is. Quiet period, I have to hear that puke again. These fools that subscribe to the Sterling/DrD/Zen, ect..school of nonsense will just keep coming up with this kind of bullcrap, and when they can't think of anything else they will just go back a couple of months and resurrect some failed theory and give it a new date. It is getting embarrassing for the faithful to be hanging onto, and promoting this insanity. The management of this company are liars, cheats, and thieves, and when the padlock goes on the door these fools can have a fund set up for their sorry losing asses, they just can't get enough of what ails them. When it crashes around everyone's head they will have a web address where you can send your money to help UC out, hopefully out of jail. These theories are getting laughable.
quote:Originally posted by Upside: We'll never know the terms of the deal because I strongly suspect there is no such deal nor is the naked short position real.
Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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posted
Isn't December 25 the day we celebrate Roger Glenn's birthday, or is that a different God. Who ever heard of this clown before he showed up at CMKX? Who says he is that good? Who says he is going to fix everything? The pumpers, that's who !!!!
And I will continue to "whine" until several things happen that I normally associate with honest stocks.
1. Fully reporting 2. share structure 3. PRs that say something except "maybe" 4. $1.00 a share without a reverse split, or my death, whichever comes first (not much hope for this one).
The rest of you can keep quoting and dreaming, I'm a bit of a realist, and I dont think this is going anywhere but down the drain.
Posts: 1772 | From: Oxford, PA, USA | Registered: Oct 2004
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-you have to do a search his name,but this is some of what it says about him...
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.
[This message has been edited by highwaychild (edited December 14, 2004).]
Posts: 2634 | From: The highway | Registered: Feb 2004
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posted
I was asking for the same or like things 7 months ago, and we will be wishing for the same December 2005. You're right, ed, I have been saying for months that these folks aren't forthcoming or forthright. What you get in return from the foolish faithful is, "let it play out", you don't understand this stock", "you find negatives where there aren't any". Well, I don't see much positive, and there isn't a whole lot to understand but nonsensical theories that are so far fetched they can't be imagined by a sober thinking person, not alone understood.
Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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posted
Btw, this is great. This picture describes the foolish and the faithful that follow them perfectly. You captured the foolish faithful, good job, tic.
quote:Originally posted by tic_toc: ROFL
THIS SHOULD BE AT THE TOP OF EACH PAGE OF ANY CMKX THREAD.
[This message has been edited by will (edited December 14, 2004).]
Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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quote:Originally posted by will: Yes indeed UpMan, there is no deal, you are absolutely correct.
This kind of nonsense makes me laugh:
"And in Roger Glenn's case he cannot give us answers until he has completed negotiations with the SEC and the Market Makers. He is dealing with the SEC investigation of UCAD / USCA, he is attempting to make us a fully reporting company before the Jan 3, SHO and move us up to a higher exchange."
Some piss ant worthless company that doesn't have diamond one suddenly is negotiating with the SEC and MM's. Give me a f*cking break, will ya ! Negotiating with the SEC and MM's to square a NSS of the century is done all the time, don't you know that? It's routine, it's customary, it's bull****, is what it is. Quiet period, I have to hear that puke again. These fools that subscribe to the Sterling/DrD/Zen, ect..school of nonsense will just keep coming up with this kind of bullcrap, and when they can't think of anything else they will just go back a couple of months and resurrect some failed theory and give it a new date. It is getting embarrassing for the faithful to be hanging onto, and promoting this insanity. The management of this company are liars, cheats, and thieves, and when the padlock goes on the door these fools can have a fund set up for their sorry losing asses, they just can't get enough of what ails them. When it crashes around everyone's head they will have a web address where you can send your money to help UC out, hopefully out of jail. These theories are getting laughable.
posted
Either CMKX will become fully reporting or they won't. Either they have the goods or they don't. Nothing is proven yet. There are other stocks out there that dig up diamonds that don't get this much attention.I mean seriously,I know some people have alot of money on the line on this,but being that it's so cheap,how can people take this so serious? I mean,I want this to go up as much as anybody,but if it don't,whatever.But if they become fully reporting,and have the goods,well then...it's a whole different ballgame,isn't it?
[This message has been edited by highwaychild (edited December 14, 2004).]
Posts: 2634 | From: The highway | Registered: Feb 2004
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quote:Originally posted by highwaychild: Either CMKX will become fully reporting or they won't. Either they have the goods or they don't. Nothing is proven yet. There are other stocks out there that dig up diamonds that don't get this much attention.I mean seriously,I know some people have alot of money on the line on this,but being that it's so cheap,how can people take this so serious? I mean,I want this to go up as much as anybody,but if it don't,whatever.But if they become fully reporting,and have the goods,well then...it's a whole different ballgame,isn't it?
[This message has been edited by highwaychild (edited December 14, 2004).]
Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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posted
legaleagle, Do you really believe they will be a fully reporting, listed company by early January?
Posts: 5729 | From: Wisconsin | Registered: Sep 2003
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posted
He believes it, yes. Will it happen, no. If it doesn't happen, like all the foolish are and have been predicting it will change nothing for them. They will just hang another date out there, as usual. So, what's the difference, they can't be trusted to answer a question without qualifiers. If he says yes it will come with a theory and a ton of if and buts.
quote:Originally posted by Upside: legaleagle, Do you really believe they will be a fully reporting, listed company by early January?
Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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quote:Originally posted by Upside: legaleagle, Do you really believe they will be a fully reporting, listed company by early January?
Certainly. If this were a scam Urban would have been out long ago; selling 800 billion shares at some average like .0005. Netting 40 million dollars, he would have said "oops" no diamonds found in our claims, and been gone. Instead he hired Roger Glenn, who never would have taken the case without some chance of winning. Nor would his partners have allowed him to. They have a valuable reputation to protect.
If, as some believe, Urban just retained him to get him out of trouble; then why are they buying gold mines and uranium mines, and who knows what other mineral properties and claims, as well as accumulating Joint Venture partners as witnesses?
If Roger Glenn wants to get the company reporting in time to be covered by SHO on Jan 3, he needs to be fully reporting no later than Dec 23. Each day he delays leaves CMKX exposed to naked shorting of the company stock.
I am not date setting. There can be many legal issues yet to be resolved. But IMO Roger Glenn has already handled those and reporting is imminnent. I won't set a date on "imminent", that would be too much like "soon".
ALL IMO
[This message has been edited by legaleagle (edited December 14, 2004).]
[This message has been edited by legaleagle (edited December 14, 2004).]