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» Allstocks.com's Bulletin Board » Micro Penny Stocks, Penny Stocks $0.10 & Under » CMKX *** HALTED SEC *** (Page 39)

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Author Topic: CMKX *** HALTED SEC ***
Dustoff 1
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Last summer I was driving on I-5 and one of the CMKX Hummers passed me..I was buying and selling [ making money ] CMKX stock at that time.
Somehow it was a reassurance seeing that damn thing...Just a blip in time, but it had an effect on me,,I think greed took over at that very momment,, that was the time period I began accumulating.
Remember the dot coms. of a few years back? Average people as well as some big shots ,,, [[Janus Funds ]] made some mighty stupid investments.
Wallace,one time you mentioned greed to me,,well,that sparked some conversation around this household.
Greed is the killer on Wall Street,but you know that..Maybe you have a little experience on that subject?

I notice comments about learning from all of this, I AGREE...What an education. Many of us we

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Dustoff 1
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Wallace..my daughter who is traveling through the South Pacific ,,summed this whole thing up.
Quote,,Capt. don't you remember what you tought me about GREED. She then began to break out into laughter along with my wife on the other phone...In the words of "dwman" life is good.

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Agrimac
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(BSNS WIRE) CMKM Diamonds Comments On SEC Administrative Proceeding
CMKM Diamonds Comments On SEC Administrative Proceeding

Business Editors / Mining Editors

LAS VEGAS--(BUSINESS WIRE)--March 24, 2005--
On March 16, 2005, the United States Securities and
Exchange Commission ("Commission") deemed it in the public interest
that a public administrative proceeding be instituted pursuant to
Section 12(j) of the Securities Exchange Act of 1934 ("Exchange Act")
against CMKM Diamonds, Inc. (Pink Sheets:CMKX) to determine:

-- Whether CMKX is required to file with the Commission current
and accurate information in periodic reports under Section
12(g); and

-- Whether CMKX failed to comply with Section 13(a) of the
Exchange Act and Rules 13a-1 and 13a-13 thereunder by failing
to file required periodic reports.

CMKX, pursuant to the Commission's order has been provided 20 days
in which to respond to the allegations in the order. Upon CMKX's
filing of a response, a public hearing will be convened at a time and
place to be fixed for purposes of taking evidence on the issues set
forth in the Commission's order. At the hearing, an administrative law
judge will determine whether it is necessary for the "protection of
investors" to suspend or revoke the registration of CMKX's securities
from the Exchange Act.
In accordance with Section 12(g) of the Exchange Act, a company
that has total assets exceeding $1,000,0000 and a class of equity
securities held of record by 500 or more persons must register the
class of securities under the Exchange Act. CMKX (then known as Cyber
Mark International Corp.) voluntarily registered its common stock
under the Exchange Act in August 1999. Pursuant to Section 12g-4 of
the Exchange Act, a company registered under 12g may terminate its
registration requirements if the number of stockholders of record is
reduced to less than 300. In July 2003, CMKX filed a Form 15 in an
attempt to terminate its registration under the Exchange Act. However,
this filing contained an error in the stated number of record
stockholders, which was discovered by CMKX's new securities counsel in
February 2005.
"When the error in the Form 15 was brought to the board's
attention, it was incumbent upon us to take corrective action,
regardless of CMKX's ability to file all delinquent reports within the
stated 60-day timeframe. We could not continue to have a clearly
inaccurate document filed with the Commission, when we knowingly had
more stockholders of record than was stated in the Form 15 filing,"
stated Robert Maheu, co-chairman of CMKX. On February 17, 2005, CMKX
filed an amended Form 15 to revoke the previous filing and reinstate
its reporting obligations under the Exchange Act. Management does not
believe the filing of the amended Form 15 had anything to do with the
Commission's decision to institute the administrative proceeding.
CMKX believes that it is required to have its securities
registered under Section 12 of the Exchange Act as a result of the
number of its stockholders, at least 698 in July 2003 and in excess of
2000 in February 2005. Under the current rule, the number of
stockholders is determined by the number of stockholders of record.
Although CMKX has securities registered under Section 12 of the
Exchange Act, according to the Commission CMKX is delinquent in its
filings.
"We only want to comply with federal regulations and do what is
right for our stockholders. If the Commission deems it in our
stockholders best interest to forbid us from providing information
through filings with the Commission, we will comply," stated Urban
Casavant, president of CMKX. Replying to the Commission's
administrative proceeding is a high priority for CMKX's management,
which plans to take the following actions.
First, CMKX will be providing a response to the Commission within
the time set forth in the Commission's order.
Second, CMKX acknowledges that all of its stockholders have a
right to access public information on CMKX and to that extent, is
prepared to present CMKX's response via a public proceeding as ordered
by the Commission.
Third, CMKX believes it is in the best interest of its
stockholders to be informed about the securities in which its
stockholders invest. There can be no doubt securities markets best
perform their function of setting fair and accurate prices where
buyers and sellers have full and complete access to all material
information. Recent changes to the federal securities laws mandated by
The Sarbanes-Oxley Act have increased the implicit and explicit cost
of providing information for reporting companies. Unfortunately, from
the time of CMKX's filing of a 14C Information Statement in February
2003, CMKX has not been able to rely on either previous information or
current information relating to its financial statements. As a result
of its inability to provide accurate information about its financial
condition, CMKX has retained the services of individuals who have been
promulgated with the task of rebuilding its financial records and
providing the public current periodic reports as required by Section
13(a) of the Exchange Act. The implicit costs associated with
Sarbanes-Oxley is that current management will not file the required
periodic reports until such time as the accuracy of the information
required in such reports has been verified, inclusive of the financial
aspects of CMKX, stockholders equity reports, and the mining claims
and other corporate assets.
Although it is CMKX's intention to continue to pursue the
effectuation of periodic reports in compliance with Section 13(a) of
the Exchange Act, management realizes that the Commission may prevail
in suspending the registration of CMKX's securities for a period not
exceeding twelve months, or revoking its registration altogether.
"Unfortunately management and others involved in CMKX's previous
operations were not blessed with the trait of being perfectionists.
Past professional guidance has left a void which prevented the
Company's ability to prepare complete and accurate periodic reports
under Section 12(g) of the Exchange Act," stated Maheu.
CMKX's stockholders should realize that among publicly traded
securities, two different standards exist for providing disclosures to
investors. First, companies with a class of securities registered
under Section 12 of the Exchange Act that are current in their
obligations as a registrant ("reporting issuers") provide annual,
quarterly and periodic reports on Forms 10-KSB, 10-QSB and 8-K, in
addition to other reports for small business issuers such as CMKX. The
second category contains companies that do not have a class of
securities registered under the Exchange Act ("non-reporting
companies").
Reporting issues are required to provide their stockholders and
the investing public with annual audited financial statements, whereas
non-reporting companies do not have to provide their stockholders or
the public audited financial statements. Further, companies traded on
the Pink Sheets that are not reporting issuers are not required to
have audited financial statements in order to continue trading on the
Pink Sheets. If the Commission were to suspend or revoke CMKX's
registration under the Exchange Act, CMKX would be considered a
non-reporting company and would continue to trade on the Pink Sheets.
In this event, CMKX intends to provide material information to the
public, when available, through press releases and postings to its
website.
Casavant went on to say, "We are committed to pursuing the
corporate cleanup required to allow us to provide periodic reports to
our stockholders; however, in the event the SEC determines that a
suspension or revocation is in order, then aside from our compliance
with such order, we will utilize our best efforts to provide minimum
basic information to our stockholders, allowing for CMKX to continue
trading on the Pink Sheets."
Although CMKX currently anticipates being able to continue to
trade on the Pink Sheets regardless of the outcome of the
administrative proceeding, it is unclear at this point if the
Commission will take further action in an attempt to prevent the
trading of CMKX's common stock on the Pink Sheets or any other medium.
CMKX is not allowing these regulatory issues to divert
management's attention from its primary operational goals of claiming
new land and continuing its drilling activities. The future of CMKX
lies in the continued development of its assets. Consistent with this
statement, Urban Casavant added, "Creating stockholder value is a
primary concern to us. We have some very positive operational things
happening, both in Canada and in Ecuador, and are extremely optimistic
about the future of our operations."
In the time preceding the administrative hearing, CMKX intends to
continue its development activities and anticipates filing operational
updates on Form 8-K, as required, when they become available.

Forward-Looking Statements:

This press release may contain statements that constitute
"forward-looking statements" as defined under U.S. federal securities
laws describing the reinstatement of CMKX's reporting obligations and
the expected impact of these obligations on CMKX's operations.
Generally, the words "believe," "expect," "intend," "estimate,"
"anticipate," "establish," "project" and similar expressions identify
forward-looking statements, which generally are not historical in
nature. Forward-looking statements are based on current expectations
and assumptions that are subject to certain risks and uncertainties
that could cause actual results to differ materially from CMKX's
historical experience and its projections. Such forward-looking
statements are inherently uncertain, and actual results may differ
from those expressed or implied in the forward-looking statements.
Consequently, readers are cautioned not to place undue reliance on any
forward-looking statements, which speak only as of the date they are
made.
CMKX's actual results could differ materially from such
forward-looking statements because of factors such as: impact of the
results of the administrative hearing on CMKX's stock price; impact of
the hearing on CMKX's operations; CMKX's ability to continue to trade
on the Pink Sheets; uncertain further regulatory scrutiny; the current
state of operations, both in Canada and Ecuador; unavailability of
documentation and corporate records; changes in the number of
stockholders of record; the impact of failing to meet Exchange Act
reporting requirements; the ability to rebuild financial records;
timing necessary to comply with reporting requirements; lack of
adequate internal controls; unforeseen capital deficiencies;
unavailability of insurance; changes in the mining and metals
environment, including actions of competitors; the effectiveness of
CMKX's development and drilling programs; regulatory and legal
changes; and other risks associated with companies in similar
industries. CMKX undertakes no obligation to publicly update or revise
any forward-looking statements to reflect current events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.



KEYWORD: NORTH AMERICA NEVADA UNITED STATES
INDUSTRY KEYWORD: NATURAL RESOURCES MINING/MINERALS
SOURCE: CMKM Diamonds, Inc.


CONTACT INFORMATION:
CMKM Diamonds, Inc.
Andrew Hill, 306-752-3755 or 877-752-3755
cmkxir@mail.casavantmining.com

*** end of story ***

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Stogie
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I'm going to need another cup of coffee and to re-read this one. I am not sure whether to laugh, or kiss my cash good-bye.
Another 20-day wait.
IMHO
Cowboy.

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Penny-Trader
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ya that looks promising lol

they are trying to look professional but say they are going to continue the rhetoric if the commission will let them stay on the pinks. lol

i think this train is about to be decommissioned

she should go down in history as the stock scam of the century.

--------------------
Dont buy or sell on my opinions, do your research. Make sure you know what you are buying before you buy.

This is a non reporting pink sheet with very high risk. From high risk comes high rewards.
Dont invest more then you can afford to lose.

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legaleagle
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By: jay_adobe
24 Mar 2005, 09:57 AM EST
Msg. 864656 of 864725
Jump to msg. #
My only post for today. Revocation for one year absolutely locks the shorts in place with no where to go. The dividends we all received are part of the short problem. CIM will IPO within that year. Restrictions for your divi shares will be lifted within that year (and then you would have been able to trade NSS divi shares). UC and IBM are telling everyone that we cannot be revoked if this NSS problem is to go away. Watch for a settlement to occur that will eliminate the NSS problem. PR was a way for UC and IBM to offer face-saving for SEC. SEC cannot be found publicly liable here. IT's too big. We will take the fall, but we will be richly rewarded. Can't say more. Must go.
- - - - -

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ed19363
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We're done.

--------------------
If I give you bad information, please feel free to sue me. I have nothing left anyway.
Ed

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Doctoall
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quote:
Originally posted by ed19363:
We're done.

Its time to bury the body, its rotting.

--------------------
Be Careful Of The Toes We Step On Today, They Could Be Attached To The Butt We Have To Kiss Tomorrow

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Pennytrade
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Cmkx open price 0,0010 ?
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TruthTeller
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???forbid us from providing information???

what kinda crap is that
-------------------------------------
"We only want to comply with federal regulations and do what is right for our stockholders. If the Commission deems it in our stockholders best interest to forbid us from providing information through filings with the Commission, we will comply," stated Urban Casavant, president of CMKX. Replying to the Commission's administrative proceeding is a high priority for CMKX's management, which plans to take the following actions.

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Dustoff 1
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Yep,,we're done,,,,, till tomorrow, this thing ain't going away, heck with this stock it might just be getting it's sea leg's back again...Stand by for who knows what is next.
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George
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quote:
Originally posted by dwman:

Then they said: I see you have CMKX but that the only thing showing up on that is that they are not accepting opening positions, you can sell but you cannot buy. I DID NOT ASK FOR THIS INFO. It seems she has been used to saying this to CMKX shareholders. People are not making this up.

[/QB][/QUOTE]

Scottrade has it listed as a restricted security for a long time now. It is listed under sell only no buys.

No Buys/Sells Only

.AIUN
CMKX
.IPLUN
INOV#
TRZA#
MSMC#
IVCO
SEIH
UGMI
SOYO
GMZC#
.AFPUN
GRDL
USCI
.FCEUN
.TPWUN
.TPLUN
AWHB
CESY
CDED
GRDL
RVNM
AFRD
HPON

No Buys & No Sells

DTSN#
GFTX
BTYH
MLXOV
TSFVE
IPPLF

--------------------
If all goes well then great, if not, make it work.

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ed19363
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quote:
Originally posted by TruthTeller:
???forbid us from providing information???

what kinda crap is that
-------------------------------------
"We only want to comply with federal regulations and do what is right for our stockholders. If the Commission deems it in our stockholders best interest to forbid us from providing information through filings with the Commission, we will comply," stated Urban Casavant, president of CMKX. Replying to the Commission's administrative proceeding is a high priority for CMKX's management, which plans to take the following actions.

Does this mean what I think it means?? The SEC is telling CMKX they are not allowed to give info to shareholders????? WTF??
Can they do that??

--------------------
If I give you bad information, please feel free to sue me. I have nothing left anyway.
Ed

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Upside
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It reads like an admission of guilt. Revocation is coming and they know it.
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bill1352
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Consistent with this
statement, Urban Casavant added, "Creating stockholder value is a
primary concern to us. We have some very positive operational things
happening, both in Canada and in Ecuador, and are extremely optimistic
about the future of our operations."
=======================

thats all you need to read. then explain how pumping 703 billion shares into the market helps shareholder value.

------------------------------

This press release may contain statements that constitute
"forward-looking statements"

===================

Although CMKX currently anticipates being able to continue to
trade on the Pink Sheets regardless of the outcome of the
administrative proceeding, it is unclear at this point if the
Commission will take further action in an attempt to prevent the
trading of CMKX's common stock on the Pink Sheets or any other medium.

========================================== i'd call that the forward looking statement

--------------------
"keep your stick on the ice & your cup firmly in place"

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TruthTeller
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Upside,
Is your post above is an answer to Ed's post?

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Upside
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Originally posted by TruthTeller:
quote:
Upside,
Is your post above is an answer to Ed's post?

Nope, just a statement. The quote from Urban that Ed referenced can be viewed many ways and it'll be the one that everyone latches on to in order to spin this in a positive way. I'd be willing to bet that before the end of today there will be talk of a "gag order" issued to CMKX by the SEC so as not to disclose the naked short position and what not.

My take on it is that Urban is saying if the SEC decides to revoke them they are no longer under obligation to file and he will comply by not disclosing anything. He's blaming the SEC for his lack of disclosure.

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Dustoff 1
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A person has to remember anything U/C says right now is probably the words of legal council.
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bill1352
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i hope they let it stay on the pinks and force all info out. tell us how many shares in the divys, how much gold in south america, how many holes drilled and some results from canada. is anything being done by the controling partner on the uranium claims. shutting cmkx down lets UC off the hook & thats just what he wants. put the screws to him, make him fess up on everything. the o/s is now out there. anyone buying it without seeing the o/s deserves to lose cash. its a stock market lesson that may pay off in the future. if they see the o/s & buy then god bless' em. the o/s is the deciding factor. its the make or break peice of info & its public. UC has done nothing that gets jail time. everything would just bring fines so expose the SOB. put his two-faced lying carcass out there for us buzzards to pick clean because today he said shut me down so i can shut up.

--------------------
"keep your stick on the ice & your cup firmly in place"

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Upside
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Originally posted by bill1352:
quote:
today he said shut me down so i can shut up.
That is a perfect description. Dang Bill, I wish I'd have come up with that.
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Ric
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It reads that all the past finacial records are gone so they can't file. Thats what it said. And since it can't fulfill the SEC obligation then its stock will be revoked. They made claim they might be able to trade on pink after that but if you read the wording carefully and the disclaimer both. This is a dead puppy. Notice how no mention of NSS either. And its laughable that you believe UC now and that hes not allowed to furnish the information. roflmao real hard. You have been feed crap, how did it tasted. Its alright though, the paid pumpers will have it tasted like candy in no time flat.

--------------------
Invest with your brain not with your heart.

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Dustoff 1
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RIC..All past financial records gone ?..Thats impossible. Buisness's have major catastrophe's all the time. Hurrican's, tidal waves, fire's ,war's...Come on, know way is their no record's period.
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will
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So where are the faithful with the new theory?

I want to see how this statement of guilt, and admission of sins of ommission, and psuedo difiance coupled with a please let us continue trading without reporting, will be twisted into something good.

Where's that PR with the results of "the deal" ? You know, the buyout? The big money that Urban made the evil MM's pay? The buyout monies that Urban and Iron Bob forced the SEC/ DTC/ to make the MM's pay. The results of Iron Bob grabbing the SEC by the throat and spitting in their face. Looks like a very different kinda PR to me.

C'mon faithful CMKX'ers, explain this one away.

--------------------
A million seconds is 13 days.
A billion seconds is 31 years.

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will
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Now don't tell me this it. I'd really be disappointed.

"Revocation for one year absolutely locks the shorts in place with no where to go. The dividends we all received are part of the short problem. CIM will IPO within that year. Restrictions for your divi shares will be lifted within that year (and then you would have been able to trade NSS divi shares). UC and IBM are telling everyone that we cannot be revoked if this NSS problem is to go away. Watch for a settlement to occur that will eliminate the NSS problem. PR was a way for UC and IBM to offer face-saving for SEC. SEC cannot be found publicly liable here. IT's too big. We will take the fall, but we will be richly rewarded. Can't say more. Must go."

--------------------
A million seconds is 13 days.
A billion seconds is 31 years.

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Ric
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That what he seemed to imply but of course its not true. The reason they don't want to produce any finacial records is it will prove all they ever did was sell shares for profit. They company would have to show proof of drilling, credit/debits and other information that they do not want the koolaid drinkers to know about.

From PR

CMKX has not been able to rely on either previous information or
current information relating to its financial statements. As a result
of its inability to provide accurate information about its financial
condition

"Unfortunately management and others involved in CMKX's previous
operations were not blessed with the trait of being perfectionists.
Past professional guidance has left a void which prevented the
Company's ability to prepare complete and accurate periodic reports


quote:
Originally posted by Dustoff101:
RIC..All past financial records gone ?..Thats impossible. Buisness's have major catastrophe's all the time. Hurrican's, tidal waves, fire's ,war's...Come on, know way is their no record's period.



--------------------
Invest with your brain not with your heart.

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Ric
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After re-reading the PR I think that I figured out what they tried to do here. CMKX did not want to be a reporting company. He told shareholder he did to get there faith but he really didn't. How can he scam them into buying more diluted shares if they knew the truth. The plan was to get the SEC to revoke there reporting status while letting them remain a non-reporting pinksheet. That way they could continue the scam for as long as they wanted. Put seems his advice wasn't to great. The SEC isn't going to let this trade again. It will be shut down. And if anyone with half a brain at the SEC reads this PR then they will see the truth in it too.

--------------------
Invest with your brain not with your heart.

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TruthTeller
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Upside,
You are right, that is the best part of the PR for a spin [Smile]
Will,
There not many faithful here before the PR anyway. From what I can see on other boards, most of the faihful still believe in CMKX. As a matter of fact, several of them think that CMKX pretty much threatened the SEC about the NSS etc. Its kinda fun to follow those boards if you don't try to argue.

quote:
Originally posted by Upside:
Originally posted by TruthTeller:
quote:
Upside,
Is your post above is an answer to Ed's post?

Nope, just a statement. The quote from Urban that Ed referenced can be viewed many ways and it'll be the one that everyone latches on to in order to spin this in a positive way. I'd be willing to bet that before the end of today there will be talk of a "gag order" issued to CMKX by the SEC so as not to disclose the naked short position and what not.

My take on it is that Urban is saying if the SEC decides to revoke them they are no longer under obligation to file and he will comply by not disclosing anything. He's blaming the SEC for his lack of disclosure.


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will
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TT:

I can't go to the other boards. What good is it to have anyone's company if you can't confront them and argue about the nonsense they come up with.

Do me a favor and bring a couple of what you think the best ones are, so I can have a little entertainment.

Cut and paste them. Consider it DD or research like noah does. LOL

--------------------
A million seconds is 13 days.
A billion seconds is 31 years.

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quote:
Originally posted by will:
Now don't tell me this it. I'd really be disappointed.

"Revocation for one year absolutely locks the shorts in place with no where to go. The dividends we all received are part of the short problem. CIM will IPO within that year. Restrictions for your divi shares will be lifted within that year (and then you would have been able to trade NSS divi shares). UC and IBM are telling everyone that we cannot be revoked if this NSS problem is to go away. Watch for a settlement to occur that will eliminate the NSS problem. PR was a way for UC and IBM to offer face-saving for SEC. SEC cannot be found publicly liable here. IT's too big. We will take the fall, but we will be richly rewarded. Can't say more. Must go."

You forgot to mention that our butts are locked up too. How can you continue to pump this garbage when UC as much as said he has been giving us the green weenie. You cant fight city hall, even if your name is Maheu. Take on a big government agency like the SEC, you are going to LOSE. IMO also, this isnt gonna be a year, the SEC is gonna pound UC and Maheu into the ground. You have three choices. Sell now and salvage what you can, wait it out and lose everything, or pump it so hard you make a little profit from the Koolaid crowd.
There arent even any signs that it will ever break .0001/.0002 again, and time is running out.

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Here ya go Will, entertain yourself.


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PR breakdown Very Long ....
« Thread started on: Today at 3:41pm »

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On March 16, 2005, the United States Securities and Exchange Commission ("Commission") deemed it in the public interest that a public administrative proceeding be instituted pursuant to Section 12(j) of the Securities Exchange Act of 1934 ("Exchange Act") against CMKM Diamonds, Inc.
to determine:

Dr.D- The SEC claims to be doing this to CMKX to protect us and the public from CMKX or more properly preventing us from receiving the information the company is making an effort to release. Therein also lays a problem. It appears they (CMKX) may not have the information (financials and reports) to supply to us or the SEC available at this time and is definitely going to need more time to compile it. More on this later. IMHO.

-- Whether CMKX is required to file with the Commission current and accurate information in periodic reports under Section 12(g); and

Dr.D – To determine if CMKX is a reporting or non reporting company based upon the 15A information of 2003 and 2005.

-- Whether CMKX failed to comply with Section 13(a) of the Exchange Act and Rules 13a-1 and 13a-13 there under by failing to file required periodic reports.

Dr.D – Since the revocation of the 15A occurred in Feb 2005, the SEC is trying to prove that CMKX possibly intentionally misfiled the 15A in 2003 and misrepresented the number of shareholders in order to withdraw from the reporting status falsely. If so, then CMKX would have intentionally deceived the SEC and no waiver or variance would be available for CMKX’s past due filings and penalties could be imposed including the revocation of CMKX’s registration.

CMKX, pursuant to the Commission's order has been provided 20 days in which to respond to the allegations in the order.

Dr.D – Self explanatory, giving CMKX 20 days from the date of the commission’s order March 16, 2005 – 5 Apr 2005) to respond to the SEC’s allegations which the company should have received official notification in writing indicating specifics by now, IMHO.

Upon CMKX's filing of a response, a public hearing will be convened at a time and place to be fixed for purposes of taking evidence on the issues set forth in the Commission's order.

Dr.D – When CMKX responds to the commission’s order by filing the requested information/answers then a public hearing will be scheduled to allow testimony and evidence to be presented to the judge concerning the specifics CMKX has been challenged on.

At the hearing, an administrative law judge will determine whether it is necessary for the "protection of investors" to suspend or revoke the registration of CMKX's securities from the Exchange Act.

Dr.D – The Judge after the evidence and testimony will decide if it is in our best interest and the best interest of the investing public to either excuse CMKX and allow them to continue to report; or suspend the registration up to 12 months (which makes no sense); or revoke the registration of CMKX and make it a non reporting company again (Once again makes no sense) with the exception if the SEC does either the suspension or revocation it could keep CMKX off the Threshhold Security List and unprotected by Regulation SHO. I know that SHO isn’t much, but it appears changes are coming.

In July 2003, CMKX filed a Form 15 “in an attempt” to terminate its registration under the Exchange Act. However, this filing contained an error in the stated number of record stockholders, which was discovered by CMKX's new securities counsel in February 2005.

Dr.D – This is still confusing to me as to who is responsible for this error. Is it CMKX’s attorney at the time? Is it the Transfer Agent? Who, what, where, when and how would be nice here. I would think that info would have been sent from the Transfer Agent and if so, why not state it clearly so the responsible party is clearly indicated. Seeing that hasn’t happened it is a faint indicator to me that someone in the company blew it. JMHO. A clear statement here leaves the company open as the position of the company is that “NO ONE KNEW UNTIL” the new securities counsel discovered it in Feb 2005. You would think that Roger Glen should have gone over the pertinent filings of the company in his efforts to bring it up to date and compliant thus discovering the error, but it didn’t happen! JMHO

"When the error in the Form 15 was brought to the board's attention, it was incumbent upon us to take corrective action, regardless of CMKX's ability to file all delinquent reports within the stated 60-day timeframe. We could not continue to have a clearly inaccurate document filed with the Commission, when we knowingly had more stockholders of record than was stated in the Form 15 filing," stated Robert Maheu, co-chairman of CMKX.

Dr.D – Mr. Maheu acted immediately upon the knowledge of inaccurate previously filed information by the company he is co-chairman of (CMKX) in spite of the company’s unprepared state to meet the obligations that such a find would impose upon it. Knowing they could not possibly meet the 60 day deadline that the revocation of the Form 15 would demand on CMKX, they acted promptly, responsibly and professionally in correcting the inaccurate information which disqualified CMKX from being eligible for the Form15 withdrawal of July, 2003. Showing once again and indicating Mr. Maheu’s impeccable character and leadership qualities that have made him one of the top men in the business. IMHO. Thank you Mr. Maheu, sir.


On February 17, 2005, CMKX filed an amended Form 15 to revoke the previous filing and reinstate its reporting obligations under the Exchange Act. Management does not believe the filing of the amended Form 15 had anything to do with the Commission's decision to institute the administrative proceeding.

Dr.D – To correct the erred information that had been filed in July, 2003, CMKX filed the amended form 15 or Form 15A on 17 Feb 2005 which revoked the erred information, but also brought reporting obligations on CMKX they could not expeditiously hope to comply with. In spite of the revocation of the erred information and the mis-stated number of shareholders as the reason for the revocation of the Form 15, (Which would be rare IMHO) Mr. Maheu and Mr. Casavant do not think the revocation of the Form 15 had anything to do with the temporary trading suspension or the upcoming public hearing. It would be interesting to know what the company thinks instigated the suspension and upcoming public hearing. In a past PR Urban seemed to think (or indicated IMHO) it may be due to information supplied by CMKX during the SEC investigation on UCAD/USCA.

CMKX believes that it is required to have its securities registered under Section 12 of the Exchange Act as a result of the number of its stockholders, at least 698 in July 2003 and in excess of 2000 in February 2005.

Dr.D – CMKX believes that in spite of the SEC’s opinions and concern over the company’s operations, it is currently required to have its securities registered under Sec 12 and are therefore obligated to produce the expected filings and reports in a timely manner. It is strange when a company is trying to clear up its financials and delinquent reports to disclose vital information to shareholders and the investing public/market and the SEC is on the other side trying to stop the process. What is wrong with this picture? The SEC is supposed to be the knight in shining armor for the shareholders when a company is hiding, but not when the company is clearly taking appropriate steps to report and demonstrating good faith to the SEC and shareholders to disclose. Something smells, IMHO.

Under the current rule, the number of stockholders is determined by the number of stockholders of record. Although CMKX has securities registered under Section 12 of the Exchange Act, according to the Commission CMKX is delinquent in its filings.

Dr.D – The current rule indicates a shareholder as being a shareholder of record with the company/TA thus making a “Street Name” (such as Ameritrade and all of their thousands of clients) one shareholder of record. The company here confirms that they have securities registered with the SEC under Sec 12 and according to the commission CMKX is delinquent. This may allude to the fact that when CMKX filed the revocation of the Form 15, we had by SEC regulation a full 60 days to file all reports that would have been due if the Form 15 had not been filed in July, 2003. That would mean that CMKX truly would not be delinquent or failing to comply until the 60 days had expired. JMHO.

"We only want to comply with federal regulations and do what is right for our stockholders. If the Commission deems it in our stockholders best interest to forbid us from providing information through filings with the Commission, we will comply," stated Urban Casavant, president of CMKX.

Dr.D – Mr. Casavant here states that they will comply with the federal regulators regardless. If for some unknown reason the regulators want to prohibit CMKX management from providing vital company information through filings to the SEC and the shareholders/investing public, then the company will have to comply. Too, there seems to be a little sarcasm Mr. Casavant was able to muster in the midst of the heat generated by the SEC’s latest inquiry into the company. Go Mr. C! OOOrah!

Replying to the Commission's administrative proceeding is a high priority for CMKX's management, which plans to take the following actions.

(Continued)
« Last Edit: Today at 4:03pm by J » Logged

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Until just over 100 years ago 99% of the world population thought that the world was flat, the center of the universe, and everything revolved around it. The Pope even decreed it in a Papal Bull (No pun intended). What is believed true today may be proven false tomorrow and vise versa.


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Re: PR breakdown Very Long ....
« Reply #1 on: Today at 3:41pm »

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Dr.D ¡V Of course responding to the questions generated by the commission¡¦s current investigation has a very high priority level for Mr. Maheu and Mr. Casavant and Counsel. Our reply¡¦s to the commission are in the form of ¡§answers¡¨.

First, CMKX will be providing a response to the Commission within the time set forth in the Commission's order.

Dr.D ¡V Very good news here. They will provide a response within the allotted time frame by the commission¡¦s order. This should shut some up that said that the company wouldn¡¦t show up or respond to any of the commission¡¦s specific questions. In short, the company is following through on the requests for answers from the SEC with answers. Of course they may not be the ones the SEC wants to hear, but they will be answers nevertheless. Why would I say it that way? Because later the company lets us know that they are trying to recreate some financial records they simply don¡¦t have because of, hmmmm possibly Mr. Casavant¡¦s decision to not hire someone competent to record and keep up with that vital information, I guess. Kind of disappointing actually. JMHO

Second, CMKX acknowledges that all of its stockholders have a right to access public information on CMKX and to that extent, is prepared to present CMKX's response via a public proceeding as ordered by the Commission.

Dr.D ¡V The phrase ¡§to that extent¡¨ is a little catchy here for me. I like it. Kind of spunky in the face of adversity. CMKX is saying that they agree that all shareholders of the company have a right to access public information and ¡§to that extent¡¨ or ¡§for that specific reason¡¨ and not necessarily because the SEC said it has to be done, CMKX is prepared to present their response by way of a public hearing to the commission. I¡¦m not sure which one (IBM or Mr.C) threw that one in, but if you like feisty, there you go. JMHO

Third, CMKX believes it is in the best interest of its stockholders to be informed about the securities in which its stockholders invest. There can be no doubt securities markets best perform their function of setting fair and accurate prices where buyers and sellers have full and complete access to all material information.

Dr.D ¡V Another little jab at the system here, IMHO, saying shareholders can make better decisions when they are informed properly by the market place as a whole, and not just by the company. ¡§Securities Markets¡¨ best perform their function of setting ¡§fair and accurate¡¨ prices where buyers and sellers have full and complete access to ¡§ALL¡¨ material information. This would include a slam at the unacceptable performance of the MM¡¦s/DTCC/SEC permitting NSS positions to accrue and weigh heavy upon a company¡¦s market performance by overloading a company with ¡§ILLEGAL/Counterfeit shares thus defrauding the investing public by corrupting the legitimate information

Recent changes to the federal securities laws mandated by The Sarbanes-Oxley Act have increased the implicit and explicit cost of providing information for reporting companies.

Dr.D ¡V We all know the Sarbanes Oxley Act has increased management accountability, responsibility, and risk, but CMKX points out another area affected by Sarbanes that needs to be considered. Implicit and Explicit costs - Implicit Costs = a cost that is represented by lost opportunity in the usage of a company's own resources, excluding cash. These are intangible costs that are not easily accounted for. For example, the time and effort that an owner puts into the maintenance of the company rather than working on expansion. Explicit Costs = A cost that is represented by lost opportunity in actual cash payments. These are tangible costs which can be easily accounted for. For example: salaries/wages, rent and materials and such. These are costs are more difficult to calculate, but CMKX is experiencing these costs as I write this due to the commission¡¦s investigation etc¡K The company is attempting to reduce these costs by continuing to focus on our assets and revenue producing priorities in Canada and Ecuador.

Unfortunately, from the time of CMKX's filing of a 14C Information Statement in February 2003, CMKX has not been able to rely on either previous information or current information relating to its financial statements.

Dr.D - Obviously this is not good. It isn¡¦t extremely bad, but it isn¡¦t good. Why have filings been delayed and why could CMKX not meet the 60 day filing deadline after the revocation of the Form 15? We have our answer. The information is either inaccurate, incomplete or non existent IMHO. Having been in business for some time, I know how these situations can occur just the same as anyone reading this has experienced while trying to keep up with their personal checkbook, receipts, or tax information. Most of the time this information can be rebuilt, recreated or has a duplicate some where. I say most of the time, because there are exceptions to the rules. It would be unusual for a company to not be in a position to recreate records by itemized data held in individual records. I once had an individual that ran off with all of my company records (several years worth) and we were able to recreate them. It was very costly and time consuming, but we did it through our clients, their account records, our suppliers, customer base at the time, etc... 60 days for us would have been impossible at the time. It took about 9 months. Not being able to file because of inaccurate records is difficult especially when Sarbanes Oxley holds the management personally and criminally responsible for the contents of the filings.


As a result of its inability to provide accurate information about its financial condition, CMKX has retained the services of individuals who have been promulgated with the task of rebuilding its financial records and providing the public current periodic reports as required by Section 13(a) of the Exchange Act.
This is good news. The good news is they have retained the services of individuals to set to the task of rebuilding its financial records, which means the data must be there or accessible to work with or there is no need to hire someone to do it. Also the periodic current reports that will become due will be provided by these same individuals. My experience with the government agencies are that if you are working to resolve the situation they will usually work with you, but if you are ignoring and trying to hide issues then they will usually draw a quick conclusion to your circumstance. This is a clear indicator that the company (CMKX) had a poor or nonexistent book keeping system in place, but has moved to remedy the situation and did so before the SEC stepped in. Nice job CMKX. Timing sometimes is everything. If they would have waited until the SEC stepped in then it could have been ugly. What we are seeing now is not ¡§UGLY¡¨ it just isn¡¦t as pretty as we would like it to be. ƒº

The implicit costs associated with Sarbanes-Oxley is that current management will not file the required periodic reports until such time as the accuracy of the information required in such reports has been verified, inclusive of the financial aspects of CMKX, stockholders equity reports, and the mining claims and other corporate assets.

Dr.D - This may sound bad on the surface, but is actually what Sarbanes Oxley intends in an off beat sort of way. Remember that Implicit Costs = a cost that is represented by lost opportunity in the usage of a company's own resources, excluding cash. These are intangible costs that are not easily accounted for. For example, the time and effort that an owner puts into the maintenance of the company rather than working on expansion. They are going to be tied up 24/7, so to speak, while they are building, recreating, and verifying all of the required information whether it is financial, mining, share structure, or corporate assets and the current management is not going to file reports that can not be attested to as being accurate. This is not accurate within reason nor to the best of their ability with available resources. This is accurate to the degree that if it is found to be wrong you may go to jail and lose a substantial amount of money accurate. That is what Sarbanes Oxley wanted to invoke into the minds of corporate America. IMHO

Although it is CMKX's intention to continue to pursue the effectuation of periodic reports in compliance with Section 13(a) of the Exchange Act, but management realizes that the Commission may prevail in suspending the registration of CMKX's securities for a period not exceeding twelve months, or revoking its registration altogether.

Dr.D ¡V Indicating that it is CMKX¡¦s desire to continue to be a reporting company and file the 10Q¡¦s, 8k¡¦s, etc¡Kbut Mr. Casavant and Mr. Maheu are aware that the commission is probably out to suspend or revoke the registration of the company and if the commission gets its way then that is what would happen. IMHO.


(Continued)
« Last Edit: Today at 4:04pm by J » Logged

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Until just over 100 years ago 99% of the world population thought that the world was flat, the center of the universe, and everything revolved around it. The Pope even decreed it in a Papal Bull (No pun intended). What is believed true today may be proven false tomorrow and vise versa.


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Re: PR breakdown Very Long ....
« Reply #2 on: Today at 3:42pm »

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"Unfortunately management and others involved in CMKX's previous operations were not blessed with the trait of being perfectionists. Past professional guidance has left a void which prevented the Company's ability to prepare complete and accurate periodic reports under Section 12(g) of the Exchange Act," stated Maheu.

Dr.D – I love this one. We are not sure if this “previous operations” is speaking of Cybermark or early CMKI/CMKM, but it seems to indicate the “CMKX” period or a time frame involving the last 12 months. I am not sure the aim of this language by the company, but I am going to guess at whom this may implicate, and his initials could be R. G. In my book, ultimately I would hold Urban Casavant responsible for the availability of the records and the oversight of the company. Sorry U.C., but I am a president of a few companies and if that info is missing it is because I didn’t stay on top of my job. To his credit, Mr. C has had illness off and on over the last year and that could have impeded him somewhat. Too, I believe he relied on the expertise of R.G., but to what extent none of us know for sure. I’m still behind Mr. C and Mr. Maheu (or IBM as some call him) 100%, but I call them as I see them. The President/CEO is ultimately accountable in my book.

CMKX's stockholders should realize that among publicly traded securities, two different standards exist for providing disclosures to investors. First, companies with a class of securities registered under Section 12 of the Exchange Act that are current in their obligations as a registrant ("reporting issuers") provide annual, quarterly and periodic reports on Forms 10-KSB, 10-QSB and 8-K, in addition to other reports for small business issuers such as CMKX. The second category contains companies that do not have a class of securities registered under the Exchange Act ("non-reporting companies").

Dr.D – Simply a clarification setting up options that the company has. 2 different standards are available: 1 = reporting and 2 = non-reporting and they give a breakdown

Reporting issues are required to provide their stockholders and the investing public with annual audited financial statements, whereas non-reporting companies do not have to provide their stockholders or the public audited financial statements. Further, companies traded on the Pink Sheets that are not reporting issuers are not required to have audited financial statements in order to continue trading on the Pink Sheets. If the Commission were to suspend or revoke CMKX's registration under the Exchange Act, CMKX would be considered a non-reporting company and would continue to trade on the Pink Sheets. In this event, CMKX intends to provide material information to the public, when available, through press releases and postings to its website.

Dr.D – 1st of all I think they are trying to put some shareholders at rest as to what would happen to their investment if CMKX has their registration revoked. Obviously your shares are fine and will remain in tact and fully contain any and all value both immediate and potentially. The company states that a viable alternative if the SEC so chooses to prevail in their quest and possibly revoke or suspend CMKX’s registration is to move to a non-reporting status on the Pink Sheets and continue to trade as they have until what time they can fully become compliant and re-file for registration. If this scenario does unfold then CMKX voluntarily obligates their self to provide the company information to the shareholders that would otherwise be required by a fully reporting status. That information will be supplied to us through PR’s and postings to its website. IMHO.

Casavant went on to say, "We are committed to pursuing the corporate cleanup required to allow us to provide periodic reports to our stockholders; however, in the event the SEC determines that a suspension or revocation is in order, then aside from our compliance with such order, we will utilize our best efforts to provide minimum basic information to our stockholders, allowing for CMKX to continue trading on the Pink Sheets."

Dr.D – Mr. C says the corporate cleanup is going to continue regardless of the hearings outcome. If the SEC revokes or suspends CMKX’s registration then the information required by the NASD/Pink Sheets to continue trading will be satisfied to them. I would not think this would lessen the information that the company just announced above that would be released to the shareholders regardless of the hearings outcome. Unless this is contradictory to the previous statement then this is simply indicating that the company would file the necessary minimal information to the proper authorities and shareholders to continue a listing on the Pink Sheets.

Although CMKX currently anticipates being able to continue to trade on the Pink Sheets regardless of the outcome of the administrative proceeding, it is unclear at this point if the Commission will take further action in an attempt to prevent the trading of CMKX's common stock on the Pink Sheets or any other medium.

Dr.D – The company doesn’t foresee that the SEC will try and prevent the company from trading on the pinks, but they could. Regardless of the hearings outcome the company expects to move back to the Pinks and resume trading. If the SEC attempts to prevent that then other action will be necessary on the part of the company, but not a concern at this time. What are these options available to the company? Go private? Merge? Reverse Merge? Comply and reregister/re-file? Etc… Shareholders are carried along with the company regardless of the decision. IMHO!

CMKX is not allowing these regulatory issues to divert management's attention from its primary operational goals of claiming new land and continuing its drilling activities. The future of CMKX lies in the continued development of its assets.

Dr.D – Once again the company shows it is undaunted in its quest by the SEC’s inquiries from building shareholder value and streamlining the company for complete implementation of Mr. Maheu’s overhaul of the internal corporate governance. Sounds like we have needed it too. The primary operational goals are repeated from the last PR as being that of claiming new lands/mineral rights and continuing its drilling activities. This is good news. Sounds as if they have been claiming new lands and continued drilling. As a matter of opinion, I believe they have been. You can’t continue drilling activities unless you’ve been doing it, IMO. Too, you can’t continue developing the companies assets if you haven’t been previously developing the assets. There is a difference in obtaining assets and developing assets, I like the developing assets almost as good as obtaining assets. Go CMKX. We all know that is where the future for CMKX lies and that’s where I plan on being is right in the middle of CMKX’s future. When CMKX gets to there “future” my children, family, friends, I, or all of the above will get there with them. Not JMHO!


Consistent with this statement, Urban Casavant added, "Creating stockholder value is a primary concern to us. We have some very positive operational things happening, both in Canada and in Ecuador, and are extremely optimistic about the future of our operations."

Dr.D – This is incredibly strong language for a company going to a hearing and under SEC scrutiny already. Mr. C pulls no punches, regardless of the disclaimer at the end, that creating stockholder value is a primary concern and CMKX has some “VERY POSITIVE” operational things happening (MEOW), both in Canada and Ecuador, and are extremely optimistic about the future of our operations. No mention of the U.S.A. in that international volley of positive operational things happening so that might exclude the infamous, tender offer so many soap box about. No mention at all of an offer on table or anything. Oh well. JMHO!

In the time preceding the administrative hearing, CMKX intends to continue its development activities and anticipates filing operational updates on Form 8-K, as required, when they become available.

Dr.D – This tells us that they are right now actively working on its development of obtaining more land, exploring our current assets and continuing drilling activities.

(Continued)
« Last Edit: Today at 4:05pm by J » Logged

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Until just over 100 years ago 99% of the world population thought that the world was flat, the center of the universe, and everything revolved around it. The Pope even decreed it in a Papal Bull (No pun intended). What is believed true today may be proven false tomorrow and vise versa.


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Re: PR breakdown Very Long ....
« Reply #3 on: Today at 3:45pm »

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CMKX's actual results could differ materially from such forward-looking statements because of factors such as: impact of the results of the administrative hearing on CMKX's stock price; impact of the hearing on CMKX's operations; CMKX's ability to continue to trade on the Pink Sheets; uncertain further regulatory scrutiny; the current state of operations, both in Canada and Ecuador; unavailability of documentation and corporate records; changes in the number of stockholders of record; the impact of failing to meet Exchange Act reporting requirements; the ability to rebuild financial records; timing necessary to comply with reporting requirements; lack of adequate internal controls; unforeseen capital deficiencies; unavailability of insurance; changes in the mining and metals environment, including actions of competitors; the effectiveness of CMKX's development and drilling programs; regulatory and legal changes; and other risks associated with companies in similar industries. CMKX undertakes no obligation to publicly update or revise any forward-looking statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Dr.D ¡V I love this disclaimer it has its own little information chest tucked away in it. It lists the factors that need to be considered by investors and what the company knows is to be calculated in to accurately assess the situation for CMKX and us. Nice list, but don't let it shake you they are just covering their rear and ours.

Overall assessment is that the company is trying to tell us there is little concern for the CMKX investor at this time. IMHO. The main topic being that the main action of the SEC is to revoke or suspend the registration and under those conditions the company would still be expected to return to the pinks with a non reporting status and resume trading soon. All shares will remain in the possession of the shareholder and information will be released to us through normal channels as in the past. The company is correcting the mistakes of the past and I would expect the SEC or at least the judge, to acknowledge that and realize the importance and desire of the shareholders to have the company in a position of being obligated by registered security regulations to produce up to date filings and reports disclosing information instead of counting on the company's good will. Company developments to hopefully increase shareholder value are continuing in Ecuador and Canada and some happenings are very promising. This is an excellent PR and I would like to express my gratitude to Mr. Casavant, Mr. Maheu and the company for being open and forthright.

These are all just my opinions and I ask that you treat them as such.

Success is at hand.

Dr.D

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TruthTeller
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Will..
Here is another.
----------------------------------------------
From Todays PR:
...small business issuers such as CMKX.

From Regulation SB:

(1) Definition of small business issuer. A small business issuer is defined as a company that meets all of the following criteria:

(i) has revenues of less than $25,000,000;
(ii) is a U.S. or Canadian issuer;

(iii) is not an investment company; and

(iv) if a majority owned subsidiary, the parent corporation is also a small business issuer.

Provided however, that an entity is not a small business issuer if it has a public float (the aggregate market value of the issuer's outstanding securities held by non-affiliates) of $25,000,000 or more.

25,000,000 dollars divided by .0002 = 125,000,000,000

Public Float is less than 125,000,000,000

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will
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Thanks noah. I don't think I ever read Dr. D's stuff completely. My attention span was tested a few times there, but I pretty much mucked through it. I'll reread it, maybe a couple of times. Lot of this sin't good in this one though, but no admission of all being lost, yet.

TT:
That guy is just a fool. Even noah can't agree with that, I'm sure.
I do like the way he seems to be so proud and pleased of that number, 125B LOL.

--------------------
A million seconds is 13 days.
A billion seconds is 31 years.

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dwman
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quote:
Originally posted by Dustoff101:
Wallace..my daughter who is traveling through the South Pacific ,,summed this whole thing up.
Quote,,Capt. don't you remember what you tought me about GREED. She then began to break out into laughter along with my wife on the other phone...In the words of "dwman" life is good.

Nice quote dustoff. Who is that guy? lol

Life just got better for me today. My daughter delivered another grandson 8 pounds 7 ounces and 23 inches long. Big Texan!!! Life is good. God is good.

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will
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Congratulations, dw!

Nothing better than that. Did you say you had all grandsons?

--------------------
A million seconds is 13 days.
A billion seconds is 31 years.

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dwman
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Does that guy legaleagle ever post anything short? LOL Just teasing legal.
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