posted
My conv. w/ div. of market regulation (SEC) CIM Diamond Finder
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Posts: 65 My conv. w / div. of market regulation (SEC) « Thread started on: Today at 2:46pm »
-------------------------------------------------------------------------------- I just spent 20 minutes on the phone with a young lady who works in the Division of Market Regulation for the SEC.
I ask her "What is the SEC's definition of O/S"? She was very polite and explained to me "Stock currently held by investors, including restricted shares owned by the company's officers and insiders as well as those held by the public."
I ask her if the shares in investors brokerage accounts were included in the O/S? She said "Yes, any shares that the company issues would include the shares in peoples brokerage accounts."
I ask her if a company puts out a PR that has the wording (excludes shares from "street name") does this indicate that the shares are not apart of the O/S? She ask " what company are you referring to"? I said "It doesn't matter, I just had a general question." After going around this subject for quite sometime, she gave in and repeated the above answer that I had earlier posed regarding the O/S.
I then had a question concerning the shares in the Brokerage accounts and if they would be covered if they were naked shorted, her tone of voice changed like someone had turned on a switch.
She ask me if I was talking about CMKX? I would not tell her and just tried to use examples of any company and not 'CMKX' that she was eluding to. She said "Every company was different". I ask her what she meant by making a statement like that? She said well, if your talking about CMKX then we are not allowed to talk about them and we would be talking an entirely different issue.
I said that I didn't want to talk about any company in particular just wanted to know if shares in a brokerage, if they were naked shorted, would they be covered? She tried to stay away from answering this direct question and kept eluding to CMKX.
Now, she had my attention! I ask her what would make CMKX so different then any other company? She said that she could not tell me because they were halted from trading and could not go into any discussion concerning CMKX. I again went back to the naked short question and ask her if investors were covered, if it were determined that there was a naked short issue with the brokerage accounts. She said "Absolutely,they would settle through the DTCC just like any other share."
I was still curious about CMKX and her statements concerning why they were different so I tried to go into those particulars. Again, she would not tell me and said "CMKX is a unique situation and there were fundamental issues with the company that had to be answered" (I assumed that since she said fundamental issues, that she was talking about filings and claims)
At this point I decided to tell her that I was connected with the National Coalition Against Naked Shorting. She knew now that I was going to get into the subject of Illegal Naked Shorting in general and giggled.
She said, NCANS has raised some issues with this subject and there is definately alot of buzz around the office. and you can bet that the SEC is looking into alot of the issues that the group have raised and the SEC encourages people to speak out on legitimate issues on both sides of the issue concerning naked short selling.
(I found it quite interesting that she referred to the National Coalitition Against Naked Shorting as 'NCANS')
I kept hitting her with questions concerning Illegal Naked Short Selling and she kept coming back to me with how much the SEC was behind the investors and wants to stop the abuses in the market. She said she was very happy that people were getting involved and she wishes more people would write and call their congress to get them involved and knew there was a growing base of concerned people.
I said you better believe we are growing and we are not going to stop until we win, and REG SHO was a joke!
She said they were seriously looking at REG SHO and how they could change it because there is a growing concern with the public as the public is starting to understand and educate themselves on the abuses.
I wanted to let her know that I was a balanced individual and explained that I understood and continue to understand that there are also Scam public companies that were also stealing money from the investors. She seemed to be very receptive and quite relaxed once she realized that I was not just seeing one side of the equation.
She said it takes open minded people from both sides of the issue to correct the past and current issues that plaque the market. I definately agreed with her assessment and she agreed with mine as well.
The remaining time was spent conversing about how people needed get involved before changes were made and encouraged us (investors and the General public) to get the word out on the concerns we have with the illegal Naked Shorting issue.
We also talked about Social Security and how this issue will determine if privatizing is the way to go. We both agreed that this would be the opportune time for all of us to get involved so we would end up with the best plan.
Cheers
CIM
I edited this to clean up some grammer and spelling errors.
posted
"I just spent 20 minutes on the phone with a young lady who works in the Division of Market Regulation for the SEC."
You going to tell me this person risked there job to talk about a ongoing investigation by the SEC?
And like the other rumors that can't be verified. This is big, I say. Made up looking PR's, conspiracy theories, and rich men making money off investors that care about us. Wonder if NBC needs a new soap opera. This is bigger then Who Shot JR.
[ March 07, 2005, 21:16: Message edited by: Ric ]
-------------------- Invest with your brain not with your heart.
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posted
"The Commission temporarily suspended trading in the securities of CMKM Diamonds because of questions that have been raised about the adequacy of publicly available information concerning, among other things, CMKM Diamonds’ assets and liabilities, mining and other business activities, share structure and stock issuances, and corporate management."
Lets see, I read that they are investigating whether there are mines. Do they have assets, and CMKX's business activities. CMKX's share structure and how they issued them. And investigating the management. Still haven't read were the SEC is investigating naked shorting.
Ric
-------------------- Invest with your brain not with your heart.
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posted
Legal, I just spent an hour on the phone with my ex-wife's sister, and you know what? She told me the exact same thing....you think maybe they're related??
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed
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posted
Does anyone remember the number of shares they claim to have repurchased as well as the total number of Treasury Shares way back last year? Somehow, I seem to remember a figure in the 70's billion or million. If it was in the 70's bil, that would explain the difference between the 703 bil I/O vs the 779 bil we have been figuring. I could be way off here too.
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CMKM Diamonds Inc., a stalled pink sheet promotion suspended by the U.S. Securities and Exchange Commission (SEC) last week, has disclosed that it has more than 703.5 billion shares issued and outstanding.
Many of the company's cult-like Internet followers are now retooling their fantasies about the subpenny pink sheet company headed by Saskatchewan native Urban Casavant and recently appointed co-chairman Robert Maheu, an 87-year-old ex-spook and former gumshoe who once worked for Howard Hughes.
The suspension
Citing concerns over the adequacy of publicly available information regarding just about everything that an investor should be able to find out about a company, the SEC pulled the plug on CMKM by issuing a temporary suspension on March 3.
Evidently the U.S. regulator has questions about CMKM's "assets and liabilities, mining and other business activities, share structure and stock issuances, and corporate management."
Those questions should hardly be surprising, given that CMKM has been delinquent in its reporting obligations for more than two years, as noted in the SEC suspension.
The U.S. regulator is also concerned that CMKM "may have unjustifiably relied on a Form S-8 to issue unrestricted securities."
Under U.S. regulations, reporting companies that are current with their filing obligations can issue shares as compensation to employees and consultants, disclosing the issuances on a Form S-8.
As previously reported by Stockwatch, on May 2, 2003, CMKM disclosed in an S-8 filing that it had issued consultants James Kenny and Timothy Cammell each 530 million free trading shares.
While the total 1.06 billion shares reported in that filing is a relative drop in the large bucket of shares issued by CMKM, the company was already delinquent in its reporting obligations at that point.
Of course, the exact nature of the SEC's concern over the S-8 filing is not known, so it may turn on something other than just a timing issue.
In any event, the U.S. regulator is sensitive to the possibility of S-8 abuse. In the past, the SEC has prosecuted some unscrupulous operators for fraudulent share issuances to so-called consultants and employees who turned out to be just fronts for dumping shares.
The U.S. regulator is also concerned that CMKM "and/or certain of its shareholders" may have conducted an illegal distribution of securities "that failed to comply with the resale restrictions of Rules 144 and 145 of the Securities Act."
While it remains to be seen whether those concerns will be satisfactorily addressed, it is clear that heavily traded CMKM issued hundreds of billions of shares while ducking its reporting obligations. As Stockwatch has reported a number of times, Mr. Casavant's pink sheet promotion had a staggering 779 billion shares outstanding last fall.
After providing its standard caution to brokers, dealers, shareholders and prospective purchasers to carefully consider the information in the suspension notice along with other currently available and subsequently issued information, the regulator took the unusual step of providing a dedicated SEC telephone number and e-mail address for anyone with information relating to this matter.
The telephone number for the CMKM investor line at the Pacific regional office of the SEC is 323-965-4519 and the e-mail address is cmkmdiamonds@sec.gov.
The response
On March 4, CMKM offered its comments on the SEC trading suspension. After restating the concerns outlined by the U.S. regulator, CMKM provided its take on what triggered that development.
"CMKX has been in discussions with the SEC in relation to the SEC's inquiry into another public company that has done business with CMKX," the March 4 news release noted. "In this process, CMKX has provided the SEC with substantial documentation, much of which spans back to transactions and stock issuances in 2002.
"It is believed some of the information provided raised concerns with the SEC sufficient enough to cause this temporary suspension of trading. CMKX anticipates a formal request for documents to be issued by the SEC in the near future."
There is very little doubt that the unidentified public company that is the subject of an SEC investigation is U.S. Canadian Minerals Inc., which is closely associated with CMKM. Indeed, CMKM and U.S. Canadian Minerals seem to be at the centre of a maze of paper shuffling and cash sloshing amongst several companies.
U.S. Canadian Minerals was itself suspended by the SEC on Oct. 28, 2004, the same day that the Saskatchewan Financial Services Commission issued a cease trade order against CMKM and Mr. Casavant that is still in effect.
In issuing its suspension against U.S. Canadian Minerals last year, the U.S. regulator acknowledged the assistance of the National Association of Securities Dealers, the Saskatchewan Financial Services Commission and the U.K. Financial Services Authority, indicating that its initial inquiries spanned at least three countries.
"The SEC did not provide us with any notice of the temporary trading halt," Mr. Casavant rather curiously remarked on March 4. "This was an unwelcome surprise, especially since our counsel has had ongoing dialogue with the SEC."
While the suspension may have come as an unwelcome surprise to Mr. Casavant and many of the company's starry-eyed shareholders, for some critics of CMKM the surprise lies in the fact that the SEC did not take action much earlier.
Quoting from the SEC's website, CMKM's March 4 news release went on to note that the primary mission of the U.S. regulator is to protect investors and maintain the integrity of the securities markets.
"Consistent with this mission, Casavant specifically engaged Robert A. Maheu to assist CMKX in its compliance efforts," the March 4 release went on.
That is the basically much the same job description for a task that was assigned to highly touted securities lawyer D. Roger Glenn of Edwards & Angell last June.
Evidently Mr. Glenn did not make much headway on that assignment. He was replaced by lawyer Donald J. Stoecklein soon after Mr. Maheu joined CMKM's board of directors in February of this year.
"Like the SEC, protecting our investors is a primary concern," the newly appointed Mr. Maheu stated on March 4.
"We have been aggressively gathering the essential information needed to comply with our public disclosure obligations and anticipate working with the SEC to ensure our compliance with all federal regulations," Mr. Maheu continued.
"We are not letting these regulatory matters impede our primary focus of creating stockholder value through the mining and development of our mineral assets," CMKM's octogenarian co-chairman of a month said.
The March 4 news release went on to discuss the ramifications of an amended Form 15 filed by the company on Feb. 17.
As previously reported by Stockwatch, on July 22, 2003, CMKM filed a certification with the SEC claiming that it had less than 300 shareholders of record, something that effectively exempts a company from reporting obligations.
As disclosed on Feb. 17, however, the original Form 15 was inaccurate; CMKM had more than double the previously reported number of shareholders of record at the time and the company should have been filing all along.
"SEC regulations require CMKX to file, within 60 days after the date of the filing of the amended Form 15, all reports which would have been required had the original Form 15 not been filed," CMKM reported on March 4.
"CMKX has not been provided a waiver, 'variance' or any other relief by the SEC for complying with the 60-day requirement," the company disclosed.
In spite of the fact that CMKM has been touting its efforts to become fully reporting for almost a year, and particularly since it hired Mr. Glenn last June, the company evidently does not think it will be able to fully comply with SEC reporting obligations any time soon.
"In fact, due to the overwhelming number of reports that need to be filed, coupled with the necessary financial statement preparation, CMKX will not be able to comply with the 60-day requirement," massively diluted CMKM reported on March 4.
However, the company does anticipate "filing a number of significant corporate updates with the SEC in the upcoming weeks on Form 8-K." Simply put, those forms are used to disclose material changes. CMKM last filed a Form 8-K on April 25, 2003.
CMKM's March 4 news release went on to draw again from the SEC's website.
"The laws and rules that govern the securities industry in the United States derive from a simple and straightforward concept: all investors, whether large institutions or private individuals, should have access to certain basic facts about an investment prior to buying it," CMKM quoted from the SEC website.
While that is indeed "a simple and straightforward concept," it is not a concept that CMKM has put into practice.
After signing the inaccurate Form 15 that inappropriately dropped CMKM into non-reporting obscurity two years ago, Mr. Casavant stopped providing financial statements and other basic information; issued approximately 100 press releases, many of them long on vague promotional puffery and short on meaningful details; issued hundreds of billions of shares without so much as a peep to shareholders; and, among other things, gagged the company's transfer agent.
With the SEC now breathing down his neck and the company expecting a formal demand for production of documents, it appears that Mr. Casavant has experienced some type of epiphany.
"We understand the importance of supplying accurate information to the public and have made it our top priority to uncompromisingly disclose all material corporate information as soon as it becomes available," Mr. Casavant declared on March 4.
Evidently in keeping with the recently embraced "simple and straightforward concept" of providing basic facts to investors, CMKM disclosed that the company currently has more than 703.5 billion shares issued and outstanding.
While that is whopping outstanding total, it is down from the staggering 779 billion shares that were outstanding last fall, thanks largely to the Dec. 18, 2004, repurchase of 75 billion CMKM shares from Nevada Minerals Inc.
The March 4 news release also disclosed that the massively diluted pink sheet promotion is headed by an executive team of one. Mr. Casavant is the chief executive officer, president, secretary and treasurer.
The one-man operation is backstopped by a two-man board of directors consisting of Mr. Casavant and Mr. Maheu.
According to the March 4 news release, former Snoop Doggy Dog associate Michael Williams will join the board of directors when the company obtains "D&O insurance."
Finding an outfit willing to underwrite a directors and officers liability policy for a massively diluted subpenny pink sheet company under SEC scrutiny may prove something of a challenge.
Before wrapping up its March 4 news release, CMKM made another plea to investors.
"Investors and stockholders are being asked to please refrain from contacting the company, the SEC, NASD, the Transfer Agent and/or Stoecklein Law Group to allow them to focus on completing the tasks at hand," the company requested.
Given that both the NASD and the SEC invite communications from the public and, moreover, the SEC has specifically invited contact from anyone with information regarding CMKM, the company's plea on behalf of the regulatory agencies may be misguided.
Rounding out its March 4 commentary with another gesture of good corporate citizenship, CMKM encouraged its shareholders and other investors to visit the SEC website, "which offers the public a wealth of educational information."
The reaction
As previously reported by Stockwatch, CMKM has an estimated 50,000 to 70,000 shareholders, including a large number of Internet followers.
While there are a dozen or more stock message boards dedicated almost exclusively to CMKM, some of them heavily censored to keep out criticism of the company, many of the company's most devoted followers congregate by the hundreds on PalTalk, a site that offers both text and audio messaging in virtual rooms.
Several PalTalk rooms are devoted to CMKM, but the largest and most popular room on the site is Sterling's Classroom, which can accommodate 1,000 people. Named after CMKM tout Major Sterling Collins, the room is home to the largest congregation of the company's cult-like Internet followers.
Among the fantasies embraced by the PalTalk faithful was the notion that CMKM had a very low number of outstanding shares; some starry-eyed investors even professed a belief that there were no outstanding shares at all.
Accurate reports that the company had 779 billion shares outstanding last fall were dismissed out of hand and anyone with the temerity to suggest that there were in fact hundreds of billions of shares outstanding would be virtually tarred, feathered and run out of the PalTalk refuge from reality on a rail.
The March 4 disclosure by CMKM that more than 703.5 billion shares were issued and outstanding might have rattled a less devoted bunch, but not the PalTalk faithful who make run-of-the-mill massive conspiracy theorists look like a bunch of unimaginative pikers.
Some of CMKM's PalTalk followers quickly seized upon an awkward parenthetical comment in the company's disclosure of the outstanding shares.
"Of the 800 billion authorized shares of common stock, CMKX currently has 703,518,875,000 shares of common stock issued and outstanding to approximately 2,032 stockholders of record (excluding shares held in 'street name')," the March 4 news release stated.
That was quickly interpreted to mean that 2,032 shareholders held more than 703.5 billion certificated shares, leaving the number of shares in street form, which is how the vast majority of investors hold shares, excluded from the number of issued and outstanding shares reported by CMKM.
That shaky interpretation, to put it charitably, is still firmly held by many of the PalTalk faithful.
On more solid ground, other CMKM PalTalk followers point out that the float is still unknown.
Moving from solid ground to gossamer speculation, however, the many of company's PalTalk faithful incorporate the unknown float into a refashioned fantasy, claiming that there is really no float at all. Mr. Casavant and members of his family, they claim, have purchased the float.
At the root of these fantasies is another strictly held tenet among CMKM's cult-like PalTalk followers: there is a massive naked short position in CMKM.
Many of the CMKM PalTalk faithful are firmly convinced that the SEC is colluding with the Depository Trust and Clearing Corp., the National Securities Clearing Corp., market makers, offshore hedge funds and others to mask a huge naked short position.
There is, of course, no evidence of a significant short position, naked or covered, in the massively diluted pink sheet promotion that has been changing hands at two-100ths of a U.S. penny and less for months, but fantasies do not rest on evidence.
Late on March 7, with seven trading sessions remaining in CMKM's 10-day suspension, more than 600 of the company's PalTalk faithful were still holding their Internet fantasy vigil.
CMKM last traded on March 2 when approximately 3.2 billion shares changed hands and the stock closed at two-100ths of a U.S. cent.
posted
I nominate Ric's repost from stockwatch the post of the month...lol stockwatch said in a more elaborate way just what most in here have been saying. & he used more proof then legel has to back it up...prs, the sec's own statements & a basic knowledge of how "street accounts" work, in other words "Stock DD" 101. even threw in what we have said about Roger the dodger, did nothing since June but i'll bet he got a huge number of shares & before the divys. only question left is who gets jail time & how much. if i had a say in it the leaders of paltalk & a few other boards would be sharing a cell with UC.
-------------------- "keep your stick on the ice & your cup firmly in place"
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posted
How in the world did Niel Armstrong ever hit that tiny little object in the sky? Maybe we should hire him to run ...you know... that company.
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posted
Below is information and links regarding the "seedy" past of Stockpartol.com.
Posted by: zeninvestor32 In reply to: None Date:10/21/2004 11:37:29 AM Post #of 19062
READ THIS
Great find by Nuffy on the CMKX thread. Read this and you will never believe another word from Stockwatch "journalists" again. Note the initial comment from the Supreme Court of British Columbia "the conduct of the defendants in the conduct of this action and in the manner on which it reported on the proceedings was sufficiently reprehensible as to merit an award of special costs." Also, this was great: "the Mudry [stockwatch"reporter"] articles were one-sided, harsh and contained extravagant epithets such as the characterization of Dr. Ager as "a peddler of worthless salted property"". LOL Oh just read it. It's a hoot. And pretty good insight into whether or not you should read one word of Lee Webb.
Also for another hoot, check out this link, wherein poor little Canjex Publishing, owner of Stockwatch cries and cries about how poor they are and how this suit will possibly bankrupt them because they have nooooo money. I leave it up to you, the reader, to decide if you think Stockwatch is really a penniless, no-asset company or simply a shell for the much larger short hedge funds to continue to publish hatchet jobs with impunity on stocks they could be shorting. You know MY opinion.
Bernstein was the founder of StockPatrol and see what the guy has done to the history of mankind...
In May 1999, Mr. Bernstein, too, pleaded guilty to securities fraud, conspiracy and perjury and agreed to forfeit $850,000 in illegal profits. He prepared to testify when Mr. Pace came to trial on charges of secretly controlling Sterling Foster and prospering from its roughly $200 million in fraudulent business. That did not become necessary. Mr. Pace pleaded guilty in 2000 and last April and was ordered to pay nearly $135 million in restitution to investors and was sentenced to eight years and four months in prison.
By the time Mr. Bernstein pleaded guilty, his career was in ruins. He had been disbarred. His law partners had walked out on him. He could not seek a new job while he faced prison, but he was desperate to keep busy.
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Posts: 1059 Registered: 22-10-2004 Member Is Online
posted on 8-3-2005 at 12:40 AM
CMKX "biggest basher" repents
Alan Treffery, an attorney, who has been appearing in Willy Wizards PalTalk,for several weeks now, calling CMKX the biggest scam ever, came in the room and apologized tonight for what he had been saying. Here is a summary of his talk posted at Sterlings:
"Well, he (Allan) apologized for his earlier negativity... said he's sorry, had sold 2/3 or so of his shares and wasn't happy about that... said someone he "trusts" said cash deal...buyout/merge.... by the 17th March..... would not give source. Anyway, that's Allan fwiw.... and I just got bounced."
"There is an appointed time for everything, and a time for every affair under the heavens" Ecc 3,1
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posted
I read those old court case. OLD. You two are so funny. New York Times probably gets 100 of these a year. You had to dig back a couple years for something. And yes, its just one mans opinion like the supporting article earlier from Financewire. But it uses facts to back up its claims unlike the earlier article. All you can do is give theories and other peoples post. But none of these have any facts to support them. But hey you believe right just like the koolaide drnkers at MLON.
quote:Originally posted by Highwaychild:
quote:Originally posted by bill1352: I nominate Ric's repost from stockwatch the post of the month...lol
I nominate legaleagle's repost ABOUT stockwatch the post of the month...LOL
-------------------- Invest with your brain not with your heart.
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How ever old it is... whatever.It's still eerily familiar.Why would Web risk it again?He must be getting payed well.But he is very good with words.Guess if he got more careful with his wording after the court case.
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posted
No, everything used in the article was backed up from last PR and SEC document. Or comments on the outragous theories that have no support to back them up. Big Difference. He didn't saything that wasn't said in here. Its clear in the PR and SEC documents whats going on. And twisting them to make them look good is the only poor judgement going on here.
-------------------- Invest with your brain not with your heart.
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New Rumor - Monetary Payout « Thread started on: Today at 01:04am » I'm sure those of you who visit Willy's Room know who Allen Trefrey is, aka (very_tired). This guy showed up a couple months ago slandering Urban and the company, and also making some major allegations about what UC has been up to with OUR hard earned money.
So tonight he comes in and changes his tune, does a complete 180 and states his source, that is very close to the 'inner circle' of the company, says a monentary payout is coming to the sharholders. He didn't know if it was .01 or .54, but this guy was pumped and now has a very positive outlook for CMKX. He says he will have more info in the next day or so.
Take this info for what's it worth. I did personally hear the guy with 200 hundred others in the room. I'm sure they will confirm....Best to ALL!
posted
time line...those pumpers or hopefulls still around can go back & check the truth in it. 1st the t/a leaks the o/s at 400 billion. the a/s was 500 billion at this point. you can call any t/a for a stock & get the info in almost any stock including pinks, try it. cmkx gags t/a changes & 1 day later has to go back. next in line is the pr stating UC has no shares. said he gave his shares up for the new deal so that they wouldn't further dilute the stock. (must be drinking his own kool-aide) i remember the amount being around 40 billion. next the a/s gets increased to 800 billion without so much as a by your leave from the company & 3 days later 279 billion make it into the divy split. this means the most UC has is 379 billion of the common shares. now unless he made some sort of prefered shares he has no right to vote anything in as according to this last pr there is only 2 ppl on the board & 1 in very new, Mahoo. take into this mix that Roger had to be paid & since in almost every case with pink sheet & OTC stocks this is done by giving shares which are sold as soon as possible. no proof but odds are a large portion of that 379 billion went to roger, at least 100 billion. cmkx will start trading again at the end of the suspension but i'll bet it gets stopped again april 17th because it has not filed everything & UC better have something that says he can vote everything in without shareholders voting before all these deals or he better learn to not drop the soap.
-------------------- "keep your stick on the ice & your cup firmly in place"
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quote:Originally posted by boised: Author Topic: New Rumor - Monetary Payout (Read 351 times) mikecmkx Diamond Hunter
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Homepage PM And he was warned not to drink the koolaid...some people never learn.
Posts: 18
New Rumor - Monetary Payout « Thread started on: Today at 01:04am » I'm sure those of you who visit Willy's Room know who Allen Trefrey is, aka (very_tired). This guy showed up a couple months ago slandering Urban and the company, and also making some major allegations about what UC has been up to with OUR hard earned money.
So tonight he comes in and changes his tune, does a complete 180 and states his source, that is very close to the 'inner circle' of the company, says a monentary payout is coming to the sharholders. He didn't know if it was .01 or .54, but this guy was pumped and now has a very positive outlook for CMKX. He says he will have more info in the next day or so.
Take this info for what's it worth. I did personally hear the guy with 200 hundred others in the room. I'm sure they will confirm....Best to ALL!
posted
Wow texas sure is crowded.. I pictures long desert trails.. instead its row after row after row after row after row of tacky shops and mini-strip malls... and the traffic here in houston SUCKS! I miss boise Idaho
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posted
i found the prs to back my thinking that there is a possiblity of a lot more trouble for cmkx then what we already know. it deals with UC not having 51% ownership to vote in deals. of course being in nevada they can get around that by the articles of incorperation. it could say he's can do as he wants & shareholders have no say. but this is from a july 26th pr about nevada minerals deal
As announced earlier, U.S. Canadian Minerals Inc. recently issued 7.5 million shares of the company's stock to CMKM in exchange for certain mineral rights. Those shares have been issued to CMKM and will be distributed to shareholders of record of CMKM on Aug. 20, 2004. Due to Casavant's share contribution to the property acquisition by CMKM occurring prior to the Aug. 20, 2004, date, Casavant will not receive this or any subsequent dividend.
we all know that on aug. 17th the a/s was increased to 800 billion & on the 20th the o/s was 779 billion. on dec 31st 2002 cmkx canceled all preferred shares & the o/s was 7.2 billion of course this was up from 9/30/2002 when there were 350 million in the o/s according to the last Q10. the a/s was 500 million. bottom line, UC may not have had the right to make deals without shareholder approval as he did not own 51% of the common stock.
-------------------- "keep your stick on the ice & your cup firmly in place"
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quote:Originally posted by boised: Wow texas sure is crowded.. I pictures long desert trails.. instead its row after row after row after row after row of tacky shops and mini-strip malls... and the traffic here in houston SUCKS! I miss boise Idaho
You think the traffic sucks? Just wait until you feel "The Summer Heat of Texas"!!! Put that in quotes because it sounds so much like a bad movie. LOL Really would be a good movie title, huh dwman?
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