posted
This is not a short sqeeze. There is no proof of shorting, naked or otherwise. Matter of fact the SEC stated in its statement that they were investigating how cmkx sold its shares. Nowhere has there been any mention of shorting by cmkx in there last PR in which they came clean or the SEC. This is a made up rumor by the cult to make themselves feel better about there past pumping and investment choices. All they stated was they diluted shares to the some of 703 billion which is outragous.
-------------------- Invest with your brain not with your heart. Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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legel...if cmkx had 500 million in the o/s i'd have never sold my 2 million shares. if there was 4 billion in the o/s i'd be hoping for a 4 to 1 r/s. the o/s is 703 billion, it was 779 billion till they bought back 75 billion from nevada minerals. that 779 billion was there Aug 20th 2004. jan.1st 2003 there were 7.2 billion. that means for 20 months 38 billion plus were added to the o/s or 1.8 billion per trading day per month. since not every trade was a buy you can reasonably get to the average volume per trading day. how can you fit in a huge naked short? are you trying to say that UC covered the naked short with real shares?? that made them real shares & there is no reason for any mm to cover, UC did it. all the mm's need do is pay the company for those shares period. end of story & the average pps for that time is about .0002 maybe .0003. the SEC will fine them & its over. naked shorting is very real. it harms many companies & huge numbers of investors. opinions are great things but they need to have some sort of reality involved or they become the rantings of a lunatic or a heavy kool-aide drinker.
-------------------- "keep your stick on the ice & your cup firmly in place" Posts: 3651 | From: Algonac, MI. 48001 | Registered: Jun 2004
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posted
bill, you are operating with insufficient information. We all are, we only have the OS. If Urban bought up 700 billion, or more, and retires them to the treasury, then we have a completely different situation don't we?
We don't know whether he did or not. But I do know this, the pps of this stock has traded as high as a nickel and as low as .0001. If Urban sold 779 billion shares into the market, at a low average of .0003, he would have grossed $233,700,000.00. That's 233 million dollars. Why didn't he just say. Sorry folks we looked at all of the claims and didn't find anything. WE'RE CLOSED. SEE YA. What's he doing still sticking around? Now thumbing his nose at the SEC? Bringing on a heavyweight like Bob Maheu? Still showing up and rubbing elbows with shareholders at the races? Again that's 233 milllion dollars minimum. And he is still here and still drilling.
It's easy in a place like this to hear only the negatives, the bashing and the personal attacks on anyone who dares to take the positive side, to encourage everyone to go look for the facts or consider the possibilities. Was this a risk play? Yes it was. And note, I said was. Just the fact that he is still here and still public should tell you everything you need to know that it is no longer a risk. If it was a scam, he would be gone. If not you know he has the goods and he has the naked shorts, skinned, cleaned and ready to fry.
All of that nonsense about the OS was announced for a purpose. What do you suppose it was? They may have just as well announced bankruptcy, if that OS was the final story. There is more coming. All IMO
Posts: 2375 | Registered: Nov 2004
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quote:Originally posted by Ric: This is not a short sqeeze. There is no proof of shorting, naked or otherwise. Matter of fact the SEC stated in its statement that they were investigating how cmkx sold its shares. Nowhere has there been any mention of shorting by cmkx in there last PR in which they came clean or the SEC. This is a made up rumor by the cult to make themselves feel better about there past pumping and investment choices. All they stated was they diluted shares to the some of 703 billion which is outragous.
Ric: SEC,MM, or hedge fund rep?
Posts: 2375 | Registered: Nov 2004
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quote:If Urban sold 779 billion shares into the market, at a low average of .0003, he would have grossed $233,700,000.00. That's 233 million dollars. Why didn't he just say. Sorry folks we looked at all of the claims and didn't find anything.
Because the 233 million wasn't dropped in his lap in one fell swoop. It would have rolled in over time, affording him a more lavish lifestyle and the need for a steady income to support that lifestyle. Also by dropping a bombshell and saying "we're done", that would have raised some serious eyebrows with the SEC. As it is, it just took a little longer. Also, investors would have been hunting him down in earnest. He had to make it look as though an honest effort was put forth.
One of the rallying cries I used to hear was "If anything was wrong with CMKX, don't you think it would have come out in the USCA investigation?" Well, now it's happened. I see a company suspended from trading in the province in Canada where they're stationed, now also suspended from trading and under investigation in the U.S. for the same reasons along with virtually every other business reason possible. I also wonder about a company that cannot supply normal business records. What type of company operates with no documentation of its operations? One that is not actually doing business. I see a company with one officer, Urban Casavant, whose one known drilling rig was last spotted in the Smeaton town dump.
That's what's known about this company for now. Anything beyond that is wild speculation that borders on unbelievable. If any of these theories pan out it will be a history making event and I for the life of me cannot believe that a .0001 pink sheet stock is going to rock the foundation and forever change the course of the U.S markets.
Posts: 5729 | From: Wisconsin | Registered: Sep 2003
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posted
Upside, let me repeat to you what I said to bill....."bill, you are operating with insufficient information. We all are, we only have the OS." We can accuse, embrace,bash, pump, criicize or confirm, but finally only time will out. All we can do is wait and see. Shouldn't be long now to see who was right and who was wrong,and who completely missed the boat or got on the wrong one.
Posts: 2375 | Registered: Nov 2004
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posted
You're right about that legal, insufficient information. So lets take a look at what is known. They are suspended in one province in Canada. They're suspended and under investigation here. They have an o/s of 703 billion. Until very recently they had one officer, Urban Casavant. They have taken in millions and millions of dollars and have one known drilling rig. They have turned up 2 micro diamonds of no value with their one known drilling effort. The pipe those diamonds came from is no longer under CMKx control pending Canadian litigation.
On the plus side they engaged a reputable attorney for about 8 months for unknown reasons. They recently hired an ex Howard Hughes employee. They have a stake in some other companies with unknown value.
With the information that is known it is not a pretty picture. Based on what is known, is this a wise investment?
Posts: 5729 | From: Wisconsin | Registered: Sep 2003
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posted
legal, you wrote: "bill, you are operating with insufficient information. We all are, we only have the OS. If Urban bought up 700 billion, or more, and retires them to the treasury, then we have a completely different situation don't we?
We don't know whether he did or not." ***********************************
Bear in mind that Bill was speaking of the Issued and Outstanding shares in the above post.
I have stated the following any number of times:
"Treasury Shares is the stock that has been bought back by the issuing corporation and is available for retirement or resale. Treasury Shares is issued but not outstanding. Treasury Shares cannot vote and pays no dividends."
Bill was referring to the very shares that UC stated were I/O shares. Therefore, unless you are calling UC a liar, Bill was operating with sufficient and precise information. If there are 703 billion shs I/O, as per UC's statement, WE DO KNOW as a matter of fact that he could not have purchased 700 billion shares. If the dividend sh figure of 779 billion was correct, which it probably was, at most there could be only about 76 billion shares in Treasury. However, I would not be surprised if whatever was previously in Treasury is long gone and sold on the open market....that is UC's "MO".
posted
Sometimes I feel like an ant under a cattle stampede around here. I am learning alot about stocks and the internal operations of a company,as well as greater insight into the goings on around Wall Street. [ goings on ] That should drive Dwman nuts. I just can't stop being a glass half full kinda guy! [Kinda] did'nt want to leave you out Wallace. A novice just could'nt get this much education [in real time] in a class room.So I am still around and learning. However, it is not possible for me to just sit here and not poke some fun at you big shots. Wallace' I was a thorn in my commanding Officer's Butt for nearly a year.I think he agreed to a Staff Officer's position just to get away from the whole bunch of us. Then they sent us a brand new shake and bake Captain.Oh' the pranks we pulled on that poor man.However when the chit would hit the fan we all would pull together , and yes we did look after our Newfers.Most of the time they did'nt know it though. And no Wallace I will not take a test.
Posts: 10729 | From: oregon | Registered: Feb 2005
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posted
well i seem to everyone once in a while try to use reason & logic with legel...why i do this is beyond me. maybe i need professional help too. this was always a lottery ticket stock but as things came out it became much less. in my many months on this thread i've done my best to refrane from name calling except for a few moron comments. i knew when they released the o/s it was going to be 779 billion since the divy split, it had to be. i did forget to subtract the 75 billion bought back from nevada minerals. i knew the cult would somehow make this a good thing, trying to hold on to their dreams of great riches. i do not think CMKX is a scam because i do think they will 1 day really look for diamonds & continue trying to add other companies with mineral assetts. i do think UC is corrupt & a complete idiot in running a business. he has no idea how a public company needs to work to increase shareholder value. but the real idiots are the cult. the lack of brain function it takes to still try & find a positive with the KNOWN information is beyond believe. it hurts my head reading some of the crap LEGEL spews up from himself & reposts from other boards. UC himself said he had no shares 7 months ago. Roger Glenn made the statement in a pr, the cults god like lawyer & still they puke out crap about UC buying up the o/s. the list of how they completely ignore the facts is to long to even try to mention. so the next time i try to be reasonable with legel & his cult, please guys smack me hard. use a bat if needed...lol
-------------------- "keep your stick on the ice & your cup firmly in place" Posts: 3651 | From: Algonac, MI. 48001 | Registered: Jun 2004
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quote:Originally posted by Upside: You're right about that legal, insufficient information. So lets take a look at what is known. They are suspended in one province in Canada. They're suspended and under investigation here. They have an o/s of 703 billion. Until very recently they had one officer, Urban Casavant. They have taken in millions and millions of dollars and have one known drilling rig. They have turned up 2 micro diamonds of no value with their one known drilling effort. The pipe those diamonds came from is no longer under CMKx control pending Canadian litigation.
On the plus side they engaged a reputable attorney for about 8 months for unknown reasons. They recently hired an ex Howard Hughes employee. They have a stake in some other companies with unknown value.
With the information that is known it is not a pretty picture. Based on what is known, is this a wise investment?
This is a risky investment for all of the reasons you stated. If you want to know why we have had little information on this company, read the Fipke book "Fire into Ice". Urban has stated that this is his business model. Diamond exploration requires the utmost, in not only corporate secrecy, but also in disinformation, to misdirect the efforts of the competition.
CMKX chose the "pinks" environment in which to operate the exploration segment of their operations. They chose this format because they do not have to report to shareholders, which in effect would be reporting to the competition.
Nearly everyone involved in this stock knew they were buying stock in a non-reporting company. That was your choice. Those who bought in prior, have had an opportunity to get out during the last run up.
The problem is that those who bought a non-reporting company's stock, have now become impatient and demanding the company tell them what they want to hear and when they want to hear it. Unfortunately for those of you who may be in that category, we have leadership in the company that won't be moved until the time is right for the company.
We have a new director in Bob Maheu who has told us that the shareholders would be informed. He started that very operation with filings and PRs since he took over. The results were that the company was suspended for trading by the SEC. So I guess we can't be too upset if the company is now guarded in further revelations. IMO the SEC could not believe or accept the magnitude of the NS on this stock, and are extremely concerned about the cost to the market of covering those shorts.
If our "float" is the full 700+ billion shares, we still have a CIM distribution rate that indicates 1.56 trillion shares held. This alone would be a NS of 800 billion. If Urban bought back most of the float, the NS position is double that number. If either of those numbers are correct, people need to go to jail, and it isn't Urban.
I think we are seeing the last part of a "short squeeze" play that will lead to a clean up of the market, in order to make a fair playing field for Bush's Social Security Plan to be implemented.
It's a developing story. The chapters are not being written as quickly as we would like. But patience will out, and I think profitably for those of us who hold, and wait. All IMO
Posts: 2375 | Registered: Nov 2004
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quote:Originally posted by Wallace#1: legal, you wrote: "bill, you are operating with insufficient information. We all are, we only have the OS. If Urban bought up 700 billion, or more, and retires them to the treasury, then we have a completely different situation don't we?
We don't know whether he did or not." ***********************************
Bear in mind that Bill was speaking of the Issued and Outstanding shares in the above post.
I have stated the following any number of times:
"Treasury Shares is the stock that has been bought back by the issuing corporation and is available for retirement or resale. Treasury Shares is issued but not outstanding. Treasury Shares cannot vote and pays no dividends."
Bill was referring to the very shares that UC stated were I/O shares. Therefore, unless you are calling UC a liar, Bill was operating with sufficient and precise information. If there are 703 billion shs I/O, as per UC's statement, WE DO KNOW as a matter of fact that he could not have purchased 700 billion shares. If the dividend sh figure of 779 billion was correct, which it probably was, at most there could be only about 76 billion shares in Treasury. However, I would not be surprised if whatever was previously in Treasury is long gone and sold on the open market....that is UC's "MO".
If the corporation had repurchased the shares then you would be right. If Urban bought them back in his own name and "certed" them, they would still show up in the OS, until he donates them back to the company, thus "springing the trap" on the NS.
And for bill: Urban didn't have to have them in his name. They could be in Carolyn's name, or Ron's, or any of a host of family members' names.
Posts: 2375 | Registered: Nov 2004
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posted
FROM ONE OF THOSE MESSAGE BOARDS THAT CANNOT BE CITED HERE.
Gluggo God of Diamonds
member is offline
Posts: 626 Senator Bennett and SEC Donaldson In Depth! « Thread started on: Today at 03:45am »
-------------------------------------------------------------------------------- I translated this for you (emphasis added ) so when you do see the video you can laugh when eating popcorn!
Senate Finance Commitee Meeting with SEC Chariman Donaldson.
Senator Bennetts time starts at 1:19:35 of the video. Its 3/4 of the way thru the video. Senator Bennetts starts with
"Naked Short Selling" "You put out a new rule (SEC Donaldson ) on naked short selling. As near as I can tell ( Senator Bennett ) from my constituants who feel victimized by this Regulation Sho its not working! There is a story that appears in fridays paper on Global Link Corp! Senator Bennett starts to read the article. Bennett goes into the whole article.
Bennett
"There is a story that appears Friday in the financial news wire which summarizes the naked short selling perfectly. A Michigan man Robert C Simpson who claims to have accuired 100% of the issued and outstanding stocks of the company Global Links Corporation. is likely to become the poster boy of the Illegal Naked short sales. Senator Bennett talks about the brokerage house selling the shares they dont own.
Simpson filed a SEC commisioned schedluled 13 D on February 3rd 2005 showing his purchase power and sole voting power with 1,158,209 shares. Yet the day after he stuck his shares into his sock drawer the market sold 37 millions shares. The next day the market sold 22 millions shares. And Thursday of last week the market traded 199,616 shares. Simpson is said to have gone back to his sock drawer and despite that a sock or two were always missing. All 1,158,209 global link certificate shares were there!
OMG how embarrasing!
Bennett " There were no shares available there to be borrowed and yet in 2 days there were over 50 million shares traded. I have constituants who say trading since the rule was adopted. Our Stock has exceeded the available float by 4 or 5 times! Ouch! Here is the good part!
Bennett " Now your staff is gonna comment on this and were gonna have a briefing on this in depth and I wont go into greater depth here. But this article just last Friday in a national publication indicates that people are still selling short shares they dont have and are clearly never gonna aquire. I am told one brokerage house sells short has 13 days under your rule under which to aquire the shares. In that 13 day period hands the whole transaction off to another brokerage house. They just keep moving it around and no body ever has to settle. They use the 13 day period to avoid the rule. You end up with this kind of circumstance. 33 million shares traded in a single day when there is only 1 million shares outstanding. One investor has filed a statement with you (SEC Donaldson) saying that he has all the shares. That is clearly something that needs work! YES!
Here comes the real embarrasing and sad part the SEC Donaldson responds! hahahaha!
Donaldson (SEC)
" Well a a a thank you for sharing that observation!
The Senator is beaming down on him at this point!
Donaldson (SEC) " As you your self note short selling is not illegal! Ah Ah Ah it is Ah I approve of short selling!
What a dumb you know what!haha
Senator Bennett " Its naked short selling were going after"
Donaldson (SEC) " Ohh Ohh Ok and when when when you get into naked short selling! Ah Ah Ah The regulation sho which is adopted in 2004 ah ah ah. Has 3 primary ah ah rules. ( he is totally flustered and speechless)hahaha!
Senator Bennett stops this dummy and lets him know he is off topic and that the Senator will be grilling him behind close doors!
posted
And it keeps getting deeper. The SEC investigation made it clear that it was investigating CMKX's selling of illegal shares, period. The only compensation maybe that Urban may have to reinburst those who bought those illegal shares but thats only at sell price. But the naked short theory is hogwash. No proof and dilution was so huge its impossible. Where did they get the money? Selling stocks thats where.
-------------------- Invest with your brain not with your heart. Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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quote:Originally posted by glassman: that is stupid legal... GLOBAL LINKS?
GLKC - Global Links Reverse Split History
Symbol Split Ratio Date GOBC 1:350 R/S 02/01/2005 GBLL 1:350 R/S 10/08/2004 GLNK 1:40 R/S 04/16/2003 UTDT 1:8 R/S 12/21/2001
maybe the guy that THOUGHT he bought the company was drinking out of the same trashcan full of kool-aid that the cmk? guys were....
it was real popular in the haight-ashbury district back in the 60's
Glass, perhaps you should get this information to Sen. Bennett since he just broadcast the story nationwide in an interrogation of the SEC commissioner about NSS (that are also nonexistent LOL) . I am sure his Senate investigative staff have failed to investigate this matter as thoroughly as you. They have apparently been dipping in the Kool Aid as well.
Posts: 2375 | Registered: Nov 2004
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"If the corporation had repurchased the shares then you would be right. If Urban bought them back in his own name and "certed" them, they would still show up in the OS, until he donates them back to the company, thus "springing the trap" on the NS.
And for bill: Urban didn't have to have them in his name. They could be in Carolyn's name, or Ron's, or any of a host of family members' names." ****************************
Good Lord, legal, get real!!! You were given a brain and you appear to be intelligent in many ways. Start using that brain and intelligence. You are beginning to sound like an idiot....and I know better of you.
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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quote:Originally posted by Wallace#1: legal, you wrote:
"If the corporation had repurchased the shares then you would be right. If Urban bought them back in his own name and "certed" them, they would still show up in the OS, until he donates them back to the company, thus "springing the trap" on the NS.
And for bill: Urban didn't have to have them in his name. They could be in Carolyn's name, or Ron's, or any of a host of family members' names." ****************************
Good Lord, legal, get real!!! You were given a brain and you appear to be intelligent in many ways. Start using that brain and intelligence. You are beginning to sound like an idiot....and I know better of you.
Other than a personal attack, what is your point?
Posts: 2375 | Registered: Nov 2004
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That was no personal attack. I was giving you credit for having quite a few brains. I would like to see you use them instead of posting "swill".
The point is there is no way UC bought any shares for himself. That is a ridiculous statement. The family? Again, ridiculous! Besides, if that were the case the float would be practically nil (700 bil you say he might have bought back and another, what, 75+ bil they bought back re that other deal with a JV). That leaves no float, no NSS as you believe and no trading at the daily volumes you see from day to day. UC has most likely been pi$$ing away money from sales of the authorized on race cars!
My god, man, why in hell do you think the SEC is looking into everything about CMKX. If it is clean, there would be nothing to look at.
Sorry you took my post as a personal attack.
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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posted
I wish the 17th would get here...maybe I could sell all this crap and not have to see ridiculous theories any more. I will never buy another penny stock, thats for damn sure.
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed Posts: 1772 | From: Oxford, PA, USA | Registered: Oct 2004
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ed, penny stocks are fun & there is money to be made, lots of it but only 1 in a thousand are worth holding & cmkx aint it...lol. some have huge o/s's huge as in 6 or 7 billion not just plain stupid as in 703 billion. i do agree that there are probably a few billion naked shares of cmkx & if the o/s was 6 or 7 billion it would cause a squeeze but how do you squeeze 703 billion?
-------------------- "keep your stick on the ice & your cup firmly in place" Posts: 3651 | From: Algonac, MI. 48001 | Registered: Jun 2004
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I know darn well that I should have a witty retort to your question but for the life of me I cannot come up with one.
Posts: 5729 | From: Wisconsin | Registered: Sep 2003
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-------------------- "keep your stick on the ice & your cup firmly in place" Posts: 3651 | From: Algonac, MI. 48001 | Registered: Jun 2004
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posted
To Ric, Upside, Wallace and some of the others.
In all honesty where do you see this going ?
Even if all the money is p*ssed away (which I agree with you I think it is) what about the land ? The land has to worth something right ? Considering how much other land in very close proximity is worth, I would think the CMKX land would have good value. CMKX seems to have more land than most up there. What is CMKX sold off the land in small pieces until it's all gone ?
What are some of the other reasonable possibilities ? I'm not looking for pumper responses here, but realistic views.
I have 10mil that I am holding, but I was smart enough to sell last run up and buy low. All my shares are free and I am also up another2k so I really can't lose here. I just want some honest opinions or possible scenarios of what happens from here. Pumpers need not reply.
Thanks, chris
Posts: 44 | From: South Jersey | Registered: Aug 2004
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posted
I will not say there is no diamonds or anything else. Who knows since no one as checked like they said they were going to. They were to busy selling shares of stock to drill. But just because you have property beside a mine, doesn't mean you have it on yours. Yes land is valuable in most cases. But unless this property does have some type of diamonds, ores, minerals or something, what is this land worth. Its not like its near a city. This is in the middle of no where and if it was worth the rights why didn't Debreers buy it anyway. Still no one knows whats on it but as far as land value alone its probably worth little where it is located. Just ask this question if you think the land is worth anything. How did a pinksheet comppany with no revenues buy this land if it was of any great wealth?
-------------------- Invest with your brain not with your heart. Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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posted
the truth is it doesn't matter what they find on that land. it can't help 703 billion o/s. the only way to make this stock have value is find diamonds & r/s. the r/s needed will kill 10 million shares.
-------------------- "keep your stick on the ice & your cup firmly in place" Posts: 3651 | From: Algonac, MI. 48001 | Registered: Jun 2004
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posted
Someone correct me if I'm wrong, but I dont think CMKX OWNS the land, just the right to any minerals found. Therefore, the land is worthless to the company. Or is this just another bad dream I'm having....
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed Posts: 1772 | From: Oxford, PA, USA | Registered: Oct 2004
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quote:Originally posted by bill1352: ed, penny stocks are fun & there is money to be made, lots of it but only 1 in a thousand are worth holding & cmkx aint it...lol. some have huge o/s's huge as in 6 or 7 billion not just plain stupid as in 703 billion. i do agree that there are probably a few billion naked shares of cmkx & if the o/s was 6 or 7 billion it would cause a squeeze but how do you squeeze 703 billion?
Pardon the pun, but I've never made a penny out of penny stocks. Someday when we are old and grey, remind me to tell you the story of the 25,000 shares of AOL I bought for a penny in 1972.
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed Posts: 1772 | From: Oxford, PA, USA | Registered: Oct 2004
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posted
zippycal, If you go on the assumption that all they have is the land (and if it's really theirs is debatable) the stock truly is worthless. Look at the areas on a claims map where everyone up there is focused. Then look at CMKX's claims. A small handful are on the outskirts of the area where everyone is concentrated but the vast majority are quite distant where no one else bothered to stake a claim. I'm not 100% sure but I don't believe they even own that land, they simply have mineral rights to it. So lets get wildly optimistic and say someone would buy up those claims for 100 million dollars. We're now left with a company with no assets, no claims, no anything except a pile of cash. Apply that 100 million to the 700 billion o/s and you wind up with nothing. The only way the pps of this company will ever rise is if one of the wild theories turns out to be true. To me that's as unlikely as the sun not rising tomorrow.
Posts: 5729 | From: Wisconsin | Registered: Sep 2003
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-------------------- When you reach the bottom, the only place to go is up, that or die - Indian Larry Posts: 460 | From: Council Bluffs, IA | Registered: Mar 2005
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quote:Originally posted by Nicholas: Are you serious ed?
Dead serious, Nick....matter of fact it was two shares for a penny, plus an option to double my holdings within one year if I liked the stock. America Online...yep, that was my big investment.
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed Posts: 1772 | From: Oxford, PA, USA | Registered: Oct 2004
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posted
I put the certificate in a drawer for 15 years and forgot all about it until AOL started growing. Then I took the cert to Janney, Montgomery Scott to find out what it was really worth. They told me that the original America Online was a holding shell, and that sometime during the 80s they folded and sold the name to the current AOL company. Ergo, that cert was worthless...in half an hour I went from glee to glum in one step.
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed Posts: 1772 | From: Oxford, PA, USA | Registered: Oct 2004
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posted
Ed, I thought the same thing. Then everyone was talking about land value and I thought that was wrong but after research I fould nothing thats states they own the land. They only own the mineral rights. This is common in remote places and was how the west was started in the US. So as far as my DD can find your right.
Ric
LAS VEGAS--(BUSINESS WIRE)--March 15, 2004--CMKM Diamonds Inc. (Pink Sheets:CMKX) announced today that the company has begun drilling on privately owned land in which CMKM Diamonds Inc. owns the mineral rights.
CMKM says that it holds mineral claims to more than 1.4 million acres in the Fort á la Corne area of Saskatchewan. While the Company suggests that diamonds have been discovered in Saskatchewan in general, and Fort á la Corne in particular, there is nothing to indicate that CMKM has uncovered a source of diamonds that justifies the current level of interest in its common stock.
Indeed, while CMKM recently announced the discovery of minerals that were "positive" for "diamond content," the Company has not offered any expert analysis that would indicate that there is any likelihood this will lead to the discovery of marketable diamonds.
In other words, there is no sign that this Company is, or will soon become, a revenue producing business.
The mystery surrounding CMKM emanates largely from its decision to cease providing audited financial information to shareholders and potential investors. The Company stopped filing public reports in July 2003, shortly after it failed to file its Form 10-Q report for the quarter ended March 31, 2003. On May 16, 2003, CMKM advised the SEC that the March 31st report would be filed late (but no more than five days late) because it needed "further time" to prepare financial statements. Late turned out to be never.
In the absence of current financial statements, there is no simple way for investors to determine the assets, liabilities, revenues or expenses of CMKM - or even the number of outstanding shares. Some details about CMKM, at least circa early 2003, can be culled from an "Information Statement" filed by the Company with the SEC on February 3, 2003. That Information Statement offers modest insight into CMKM's very brief history as a public company engaged in mineral exploration.
-------------------- Invest with your brain not with your heart. Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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-------------------- When you reach the bottom, the only place to go is up, that or die - Indian Larry Posts: 460 | From: Council Bluffs, IA | Registered: Mar 2005
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posted
Ric, just shows how things get distorted under the influence of Koolaid...LOL...half the people who propound the weird theories have little or no experience in the stock market, and quite frankly have no idea what they are saying. So now everyone believes CMKX owns the land. I'm tired of arguing the points, I just want to sell it all and get back to the NYSE.
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed Posts: 1772 | From: Oxford, PA, USA | Registered: Oct 2004
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