posted
i am shocked & dismayed. i fully expected to see a few filings by cmkx. it certainly is suprising given the new found honesty of cmkx. oh wait...i think i was sleep posting. maybe that explains legel's posts too.
-------------------- "keep your stick on the ice & your cup firmly in place"
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What game is being played with CMKM Diamonds, Inc.?
By: Kevin M. West
The Los Angeles office of the SEC is taking CMKX (CMKM Diamonds) to an Administrative hearing on May 10th to try and revoke their listing as a public company. We know they want to revoke CMKX as evidenced by the Disposition of Summary that the SEC asked for in the phone conference held last week between the Administrative Judge and attorneys involved in this case.
In the story of this mining and exploration company from Las Vegas, Nevada, it appears that the SEC is either taking some unjustifiable sort of revenge, protecting the rich of Wall Street from a destructive blow or the company is a complete fraud that has been allowed to sell hundreds of billions of shares to investors. It will be up to you to decide and, in a moment, we will lay out the time table of events that have put CMKM Diamonds in this predicament, but let’s first try to reason as to what is really going on here.
CMKM Diamonds is a diamond exploration and mining company based out of Las Vegas, Nevada. The company owns 951,968.54 acres (385,248 hectares) of mineral rights consisting of 1,038 separate claims in the mineral rich territory of Saskatchewan, Canada. The adjacent and surrounding claims of DeBeers that have boasted tens of billion of dollars in valuation on around 58,000 acres or about 1/16th the total size of the land mass of known mineral rights belonging to CMKX. The company also owns at least one gold mine (the American Gold Mine) in Ecuador and mineral claims (and possible mines) with zinc, uranium among other minerals in Canada and elsewhere.
With all the apparent valuation of CMKX, why would the SEC take to stripping money from tens of thousands of investors, rather than just help this company get back on it’s feet and make money for it’s investors like it has been trying too? If the company is revoked, the shares become worthless in the market. If the company continues and becomes fully reporting again, the investors may become very wealthy due to the company’s potential valuation.
Also, as listed in one ongoing count of very concerned investors, why is there over 87 billion shares held by less than 1,000 shareholders when it is rumored that there are as many as 40,000-72,000 CMXK shareholders and only 800 billion shares authorized? It would appear we have not billions, but trillions of shares on the market. Could the company have put them there, it’s not even possible. Are they counterfeit shares? They would HAVE to be! Who would be responsible for that you ask, it would be the market place along with NON-Regulation by the SEC.
This January, the SEC enacted Regulation SHO to put an end to the counterfeit shares (also called Naked Short Shares) being transacted into the market. However, the SEC grandfathered in all of the felonious crimes of counterfeiting shares previous to the day Regulation SHO was enacted. WHY?
Now let’s get back to the story of CMKM Diamonds and how all this talk of counterfeited shares possibly relates to the reason the SEC wants them gone.
(*1)On July 22, 2003, upon the advice of counsel, a Form 15 pursuant to Rule 12g-4(a)(1)(i) was filed as certification and notice of termination of registration under Section 12(j) of the Act, stating that at the time of filing the Form 15 CMKX had approximately 300 stockholders of record.
(*2)On June 4, 2004, the Company retained the services of Roger Glenn, Esq. from the New York law firm Edwards & Angel LLP to assist in preparing the required SEC reports.
The Company continued its efforts to bring its filings up to date by engaging Neil Levine, of the Firm of Bagell, Josephs & Company, LLC, as independent auditor.
In July of 2004, Mr. Casavant suffered a stroke which left him with no alternative but to rely upon the professionals he had retained to oversee the Company operations.
(*3)During the 3rd or 4th quarter of 2004, the Enforcement Division launched an investigation in the “Matter of U.S. Canadian Minerals, Inc. LA-2937.” Under the umbrella of the LA-2937 investigation, the Enforcement Division caused the issuance of subpoenas, deposed and interrogated CMKM Diamonds’ consultants and management. inclusive of the Company’s new auditor, the Company’s financial consultant, and Edwards & Angel LLP. In addition, a subpoena was issued directly to CMKM Diamonds, where under the Company supplied significant information to the Commission, including substantial information regarding the Company’s mining claims.
(*4)CMKX appointed Mr. Robert Maheu to the Board of Directors in order to oversee the necessary regulatory requirements. Bob Maheu is not just any co-CEO, Mr. Maheu was the main man Howard Hughes used to run the mob out of Las Vegas among a huge list of many other outstanding achievements…. He has never lost a regulatory battle. Mr. Maheu, on behalf of the Company, immediately retained the service of Stoecklein Law Group on February 7, 2005 for the primary purpose of coordinating the preparation of all reports due under the Act for the respective missing periods. Upon its initial due diligence of the Company, Stoecklein Law Group realized that at the time of filing the initial Form 15. The Company had 698 stockholders of record and that the filing of a Form 15 was not available to the Company as of July of 2003.
Upon its initial due diligence of the Company, Stoecklein Law Group realized that at the time of filing the initial Form 15. The Company had 698 stockholders of record and that the filing of a Form 15 was not available to the Company as of July of 2003.
(*5)On February 17, 2005, Stoecklein Law Group advised the Company to file a Form 15/A which resulted in the Company being subject to the reporting requirements of Section 12(g) of the Act.
During March 2005 a financial consulting firm was retained to assist the Company in its financial statements and logistical coordination was commenced between management, the financial consulting firm, the audit firm, Stoecklein Law Group, and the transfer agent.
(*6)The Company believes that as a result of the Enforcement Division investigation in LA-2937, the Enforcement Division caused the issuance of a temporary trading suspension on March 3, 2005 and the issuance of the Order Instituting Administrative Proceeding on March 16, 2005. While the actions by the Enforcement Division are designed to be remedial, they may in fact be causing a punitive effect on the Company’s stockholders by further perpetuating a growing “naked short” (counterfeit shares) position in the Company’s stock, as alleged by numerous stockholders.
OK, now one might ask why would the SEC not want to help this company get back on its feet and produce a valuation that would make its shareholder base happy and their investment portfolios grow? It is obvious that CMKX is not a fraud, but possibly a victim of poor past management because those involved didn’t know how to run a public company. Is this a crime? No it’s not a crime, and co-CEO and original founder of CMKX, Urban Casavant is an extremely good man with a heart of gold. This world could use many more men like him, in this writer’s opinion!
Is it better to PUNISH CURRENT INVESTORS, strip away 100% of their investments perhaps destroying the savings and college funds of thousands of American families than to fine the company and take a hands-on approach into getting them current in their filings?
Let’s look at what could possibly happen if there are even just 800 billion naked short shares on this stock, and not trillions as is suspected. DeBeers has already boasted a conservative 40-80 billion dollar valuation on approximately 58,000 acres. Using 1/10th the lowest possible valuation (for safety) of $40 Billion, or $4 Billion on 58,000 acres and CMKX owning 16 times the land mass, the math would look like this.
$4 Billion x 16 = $64 Billion valuation (at only 1/10th lowest possible DeBeers valuation)
$64 Billion divided by 800 Billion shares = .08 per share (worst possible scenario)
800 Billion counterfeit shares x .08 per share = $64, 000,000,000 (Billion) owed to share holders by the market place! (Keep in mind, the current trading price of CMKX is less than 1/100th of a penny per share). Now multiply that by a possible 10-20 times the valuation and 2-3 times the number of counterfeit shares and there is some SERIOUS trouble involved here!
What could be done to solve this problem, reward long enduring shareholders, let the company focus on its mining and exploration programs and save the market from a messy situation at the same time?
The SEC could do its job and PROTECT shareholders, first off. Tens of thousands of CMKX shareholders are NOT going to stand by and let the SEC use that old line that they are looking out for the “potential new investors of this stock”. That’s garbage and all CMKX investors and the SEC know it is! Those responsible for creating and helping this fraud to perpetuate (possible violators include but are not limited to the DTCC, Brokers, Market Makers and Hedge Funds) need to come to the table and make an offer to all shareholders and the criminals responsible for this unjustifiable crime need to go to jail.
America needs to know; What is the SEC going to do to protect the CURRENT shareholders that have millions and millions of dollars invested in CMKX?
** The views and opinions written in this article belong to the writer and are not sponsored or approved by anyone but the writer. This article is in no way affiliated with CMKX, the CMKX owner’s group or any other groups or organizations. The article is in no way intended to be used as investment advice.
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Posts: 1565 Kimberlites so large, can easily swallow up « Thread started on: Apr 17th, 2005, 10:30pm »
-------------------------------------------------------------------------------- Kimberlites so large, can easily swallow up all kimberlites in existence !
What is not so well known about "Fort a la Corne" is that it contains the largest kimberlite field in the world. Nearly 10 billion tonnes! A resource so large that it could easily swallow up all other kimberlites in existence! Let’s now understand what is happening in the world of diamonds for it is this growth in demand that is driving the search for new mines, and bringing Saskatchewan international attention. The marketing arm of De Beers in London England, the Diamond Trading Company, better known as the DTC, has been extremely successful over the past few years in driving the demand for diamond jewelry through its Supplier of Choice marketing program that focuses on the emotional appeal of diamonds. So successful has the Trilogy sales program been in Japan that thedemand increased 19 fold in 10 months – from 900 million yen to 1.9 billion yen and caused the supply for these 3-stone rings to actually run out. “Global Demand for Diamond Jewelry grows Stronger’] Today the total retail sales of diamond jewelry is US$58 billion per year with the demand for diamonds growing stronger. In fact diamond sales are out-performing gold and other luxury items. While the US and Japan are the largest markets for diamond jewelry, the rapidly growing prosperity in China and India is causing an increase in demand in these countries -- an additional 600 million new consumers are expected to emerge in the next few years. So at a time when demand is rising rapidly supply is constant to declining. And there are no new mines on the horizon. (The Supply curve is green and the Demand curve in red.) The result of this supply-demand imbalance has been a rise in the price for rough stones as diamantaires and manufacturers scramble to lock up supply. The price of rough diamonds has risen some 20% in 2004 and price rises are predicted to continue well into the future. Canada is currently the third largest producer of diamonds, a situation that has brought credibility and tremendous interest to further explore Canada’s diamond resource potential. This, then, is the canvas onto which the Fort à la Corne picture can be painted.
For what we have at Fort à la Corne is not only the largest kimberlite field in the world, but also good infrastructure leading to a potential low cost, long life mine and one that will produce larger stones of good quality. Let me describe for you the location and attributes of Fort à la Corne and then go on to tell you about what I believe will be the economic impact on this province if a large mine is eventually built. Here is the main trend of kimberlites at Fort à la Corne which lies 65 km east of Prince Albert. The two most active ventures are Shore Gold and their Star kimberlite, and the Joint Venture between Kensington Resources Ltd., Cameco Corporation and De Beers Canada – De Beers is the project Significantly, 70% of the known kimberlites are diamond-bearing which is an unusually high percentage by world standards, and of these, 50% are macrodiamond bearing – meaning they contain diamonds larger than 0.85 mm. [slide 13 “Diamonds in Saskatchewan”] By way of historical reference, diamonds were first reported in the Melfort-Nipawin area sometime prior to the Second World War. The next report of diamond related activity was in 1961 when severalstones were reportedly discovered in gravels downstream fromSturgeon Lake (northwest of Prince Albert). In 1969, the GSC conducted the first aeromagnetic survey of the area, but it wasn’t until 1988 that diamond staking was first done and the first exploratory drill holes confirmed kimberlite. At this point, the genesis of the Fort à la Corne diamond project as we now know it, today, began. To date, exploration activity has established that the Fort à la Corne kimberlites are enormous, mostly lower grade but with substantial interspersed higher-grade zones of enrichment. The diamonds have high average value of US$115 to US$148 per carat based on samples valued by two independent sources in London (one source is WWW International Diamond Consultants which is retained by the Government of Canada for diamond valuation services). An aggressive action plan for advanced exploration and evaluation of the Fort à la Corne claims has been formulated and will be taken to the Boards of the respective Joint Venture companies in February. This plan has the objective of reaching a pre-feasibility decision by the end of 2007. If this plan proceeds favourably a new mine should be possible. De Beers also favours the political stability of Canada and its supportive Provincial Governments as over half its worldwide exploration budget of nearly $100 million is allocated to our country. The current exploration programs are focused on the southern portion of the claim where there is an intense cluster of kimberlite bodies. There are as many as 25 kimberlites in a 5 km radius that includes those kimberlite bodies that have already proven their potential value. The new aggressive action plan considers the cluster as a single unit and lends itself to an open-pit mining scenario that would include several kimberlite bodies together. An open-pit mine would prove its economics as the most cost effective way to maximize the opportunity of these high tonnage but low grade kimberlites. In this slide the red bodies are kimberlites where we have already defined a resource at the deposit level and the dark blue bodies are those drilled in the 2004 program to search for higher grade units.
Our economic models are optimistic because the costs associated with a mining operation at Fort à la Corne are significantly lower than most others due to the amenities associated with its location. Fort à la Corne has reasonable all-year climate which means that an operation would not be seasonal. Also, the site has close proximity to: - Population centres with available workforce and service sectors - Existing all-weather ground transportation routes - Utility infrastructure in place or easily constructed The anticipated diamond mine will contribute to Saskatchewan’s future prosperity. Besides jobs, the potential diamond mine that is being considered will strengthen the provincial economy and enhance socio-economic development related to an improved quality of life for local residents. The challenge for these local communities will be to manage the growth.
Revenue to the province will come directly from: • Government Royalties and Taxes o Importantly, the government has indicated their support for the mine development by stating that the capital tax surcharge would be waived and royalties would be low with likely a “holiday” until the initial capital is recovered. This tax “holiday” helps to create a favourable economic feasibility plan. • Also from revenues from Goods and Services involved in the development and ongoing operation of the mine• And indirectly from government would benefit from income taxes, sales tax, fuel tax, corporate tax, etc. Considering the low margins of our potential operation of Fort à la Corne $20/tonne vs uranium at $12,000/tonne -- the government has indicated their willingness not to impact development through onerous royalties and taxes. Naturally, the biggest upside for the province is the employment opportunities that a mine will generate.
A large open pit would employ approx. 500 to 600 people in the mine, plant and offices. A large percentage of these will be skilled categories, requiring applicants to have a minimum of secondary school education and in many cases, a trade certificate. Job opportunities will be available for: • equipment and plant operators • skilled trades, such as o welders; o diesel mechanics • engineers o for surveying land for continued mine planning, grade control, etc. o and geologists for continued exploration. During the construction phase there is typically twice the number employed as in full production therefore add another 1,000 to 1,200 short term direct jobs – all a minimum of secondary school education and in most cases skilled training.
Posts: 9 Section 13a-13 subpart (c)(2) « Thread started on: Today at 01:07am »
-------------------------------------------------------------------------------- For your perusal only...
CMKX recently updated its SIC code at SEC Edgar to 1400 - Mining & Quarrying of Nonmetallic Minerals (No Fuels).
Also note that the following subpart (c)(2) does NOT apply to the annual financial statements, only the quarterly statements.
Rule 13a-13(c)(2): Part I of the quarterly reports on Form 10-Q or Form 10-QSB need not be filed by: Mining companies not in the production stage but engaged primarily in the exploration for the development of mineral deposits other than oil, gas or coal, if all the following conditions are met: i) The registrant has not been in production during the current fiscal year or the two years immediately prior thereto; except that being in production for an aggregate period of not more than eight months over the three-year period shall not be a violation of this condition. ii) Receipts from the sale of mineral products or from the operations of mineral producing properties by the registrant and its subsidiaries combined have not exceeded $500,000 in any of the most recent six years and have not aggregated more than $1,500,000 in the most recent six fiscal years."
Here is what is contained in "Part 1" of a quarterly financial statement:
Item 1. Financial Statements. Furnish the information required by Item 310(b) of Regulation S-B.
Item 2. Management’s Discussion and Analysis or Plan of Operation. Furnish the information required by Item 303 of Regulation S-B.
Item 3. Controls and Procedures. Furnish the information required by Items 307 of Regulation S-B (§228.307 of this chapter) and 308(c) of Regulation S-B(§228.307 of this chapter)."
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posted
AZTEC Mining Announces Acquisition of Sturgeon Lake Kimberlite Monday April 18, 10:06 am ET
INDIANAPOLIS--(BUSINESS WIRE)--April 18, 2005--AZTEC Mining Corp. (Pink Sheets:AZTM - News) is pleased to announce the acquisition of the Sturgeon Lake Kimberlite, located 20 miles north west of Prince Albert, Saskatchewan. The Sturgeon Lake property was formerly operated by Monopros, an exploration arm of De Beers Canada. The Sturgeon Lake Kimberlite contains an estimated 1,000,000 metric tons of kimberlite which are exposed at surface. Random kimberlite grab samples have been collected and submitted to the Saskatchewan Research Council for assay and petrographic analysis. Aztec's land position at Sturgeon Lake has recently been surround staked by BEC International Corp. with 70,000 acres of claims.
The company website is in the process of being updated to include more information about recent AZTEC property acquisitions and other corporate developments. http://www.aztecmining.com
This press release contains "forward-looking" statements as that term is defined by Section 27A of the Securities Act of 1933 (the "Securities Act"), as amended, and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), as amended. All statements that are included in this press release other than statements of historical fact are "forward-looking" statements. Although management believes that the expectations reflecting in these forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors could cause actual results to differ materially from the expectations as disclosed herein, including without limitation, in conjunction with these forward-looking statements contained in this press release.
posted
How's this for a conspiracy theory? The SEC is trying to squash CMKX to hide the fact that the SEC has not been addressing the naked shorting issue so as to protect certain rich investors pulling the SEC's strings.
Hey, you know there are some big money guys who call the shots in these situations. It would fit right in with the way the SEC has been going overboard in shutting down CMKX.
And just for the record, this in no way makes CMKX the good guy; I don't think there are any in this situation.
-------------------- May your trading build your character as well as your portfolio.
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posted
thtas for sure i would never defend cmkx but there might be a lot of dirty laundry on the line that certian people don't want to see.
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posted
Today's update: Street Shares: 77,789,270,825 Cert Shares: 11,106,973,050 Total Shares: 88,896,243,875 Signed Agreements: 989
Average shareholder holds: 89,884,979
***Differences in figures have been coming from two different shareholder associations. There is an old association and the new one with Frizzell. These figures are from the Frizzell site.
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The Company has successfully sold 80% of the C.O.D. mine in Arizona to a company whose stock is publicly traded. The stock will be unrestricted and marketable by the middle of May.
posted
Same old stuff presented in a different way. As soon as the facts about DeBeers, Carolyn and the claims were stated, tried to divert/distort with others' posts. It's clear that CMKX does not compare to DeBeers. It's clear CMKX has 0 present potential. It's clear Carolyn was part of the game in causing the hype and that that claim is worthless.
Cannot leave out someone special. It's clear that Roger Glenn accomplished nothing no matter how much credit was given him.
posted
I notice even the other boards are becomming more and more negative. Looks like UC has just about worn out his welcome. IMO he either files soon (Lord, I hate that word), or he will have a major shareholder revolt on his hands.
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed
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quote:Originally posted by ed19363: I notice even the other boards are becomming more and more negative. Looks like UC has just about worn out his welcome. IMO he either files soon (Lord, I hate that word), or he will have a major shareholder revolt on his hands.
I vote to get on with the revolt, could use another good Boston Tea Party, but this time in Las Vegas with us all burning CMKX shares
Lets appoint that party lady from Sask as the revolt leader, she has experience with this kind of activity.
-------------------- 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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The Company has successfully sold 80% of the C.O.D. mine in Arizona to a company whose stock is publicly traded. The stock will be unrestricted and marketable by the middle of May.
When you finish reading it, you will realize that not one of the companies mentioned has anything that can be called valuable. All they have is shares in EACH OTHER !!!!!! Now there's a valuable purchase....LOLOLOLOLOLOL
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed
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quote:Originally posted by ed19363: I notice even the other boards are becomming more and more negative. Looks like UC has just about worn out his welcome. IMO he either files soon (Lord, I hate that word), or he will have a major shareholder revolt on his hands.
posted
His smiling is a definite sign of his arrogance and lack of concern for the shareholders that he has taken. Nothing but a Scam, nothing more and nothing less.
Scam Artist
-------------------- 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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Mining properties are usually sold with a scenario such as: 1) A down payment of stock, cash or a combination of both, 2) A 5 % royalty, and 3) A 6% carried interest in the profits of that particular mine.
The management of the Company has already been in contact with at least one potential buyer. We will need to complete the drilling commencing next week along with a third party assay of the precious metals to complete the documentation needed to offer the property for sale.
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i'm sure ECPN will take shares of cmkx for a mine...yep UC might have to get that printing press re-started for that 1. can you say gazillion (i sure can't spell it...lol)
-------------------- "keep your stick on the ice & your cup firmly in place"
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posted
SCAM, nothing more and nothing less than a SCAM. Now look who'd asking to back up statements, that master of all false statements "LEGAL" Go back to you shovel, some of the mushrooms are seeing the light
-------------------- 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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posted
I cannot tell you how many times legal has used the word "potential", but I know it must be at least 10 times. He, however, cannot back that up with anything to support that contention either. Claims - 0 results, Carolyn - negative results/worthless, flyover - supposed anomalies, none proven, gold/uranium - tons of dirt, if any results - miniscule, and, earnings - negative and maybe for the past 6 years.
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RG comes on board to bring us back to fully reporting (not with the intention of revising form 15) LAS VEGAS--(BUSINESS WIRE)--June 4, 2004--CMKM Diamonds, Inc., (Pink Sheets:CMKX - News) president and chairman of the Board of Directors, Urban Casavant, announces that the Law Firm of Edwards & Angell has been retained to represent the Company in its desire to become fully reporting once again.
WE (the shareholders) hear "close, Close, soon, etc,. IMO, during this time, the SEC is throwing up roadblocks left and right to prevent CMKX from filing what will expose their imcompetency and a huge NSS. Roger Glenn continues to try to work with the SEC.
IMO, IBM says "enough Mr Niceguy" and brings in Stocklein to do the job. LAS VEGAS, Feb 11, 2005 (BUSINESS WIRE) -- CMKM Diamonds Inc. (Pink Sheets: CMKX) today announced a corporate strategy plan designed to dramatically and comprehensively transform CMKX's internal corporate governance. The aggressive plan is being spearheaded by Robert A. Maheu, the recently appointed co-chairman of CMKX.
"Solving problems has been my occupation for many years," said Maheu. He continued, "Tough assignments are not solved by wishful thinking, but rather by tough action." A new team of securities attorneys has been instructed that their prime assignment is to correct any deficiencies of the past and to cooperate fully with regulatory bodies both in Canada and the United States to minimize the possibility of such deficiencies in the future.
Stocklein goes through the backdoor to get CMKX fully reporting again. LAS VEGAS, Feb 17, 2005 (BUSINESS WIRE) -- CMKM Diamonds Inc. (Pink Sheets: CMKX) today announced the reinstatement of its reporting status under the Securities Exchange Act of 1934 through the filing of an amended Form 15.
On Feb. 9, 2005, CMKX engaged Stoecklein Law Group, a firm specializing in securities matters, as new securities counsel to assist with the correction of past deficiencies and guide CMKX through its regulatory compliance requirements. "When I joined the board one of my prime assignments was to improve corporate compliance. A prime component was to reinstate reporting status, which was efficiently and expeditiously handled by the Stoecklein Law Group," stated Robert A. Maheu, co-chairman of CMKX.
IMO, the SEC says "Oh crap!" and halts CMKX... LAS VEGAS--(BUSINESS WIRE)--March 4, 2005--Commencing at 9:30 a.m. EST yesterday, trading of the common stock of CMKM Diamonds Inc. (Pink Sheets:CMKX - News) was temporarily suspended by the Securities and Exchange Commission ("SEC"). This temporary suspension will expire on March 16 at 11:59 p.m. EST and trading in CMKX is anticipated to resume on March 17, 2005.
...and then attempts to get CMKX delisted. LAS VEGAS--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.
At the phone hearing, the SEC requests delisting without a proper hearing (sorry can't find the report from Frizzell) - the judge denies and the hearing is now set to May 10th.
IMO, the SEC is crapping their pants - no wonder all the reports from the races say that UC, etc, aren't worried - we have the SEC by the balls!
posted
Let's talk about UC and management talent. Success - none, failures - 2 or 3, maybe more, shareholder satisfaction - little/minor, managerial capabilities - none, experience - none, even though he ran at least one public company prior, responsibility - denies, informing public shareholders - abominable record, attention to CMKX matters - constant diversions (race cars, credit cards, etc.), operations - insignificant, and, RESULTS - NONE, IN FACT, NEGATIVE.
Every statement in this post and my previous post can be supported and legal knows that for a fact.
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