-------------------- A million seconds is 13 days. A billion seconds is 31 years. Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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congrats mr & mrs wallace...well how about congrats mr wallace & condolances to mrs wallace. he's keep her that long & she's put up with him that long.
-------------------- "keep your stick on the ice & your cup firmly in place" Posts: 3651 | From: Algonac, MI. 48001 | Registered: Jun 2004
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legel if it was just a case of a wrong number i agree, shutting down would be wrong, but its not. its trading shares illegaly, why do you think saskatawan shut them down. i bet by the time all the charges are explained in detail during the trial as in which trades or what was given or sold to who a pattern that us bashers have been pointing out will be in black & white. as for your reposts claiming all they need is 49% to prove a n/s, get that person & funny white coat. the most UC, family & anyone that could be called insiders holds is 100 billion & i bet its much less then that.
-------------------- "keep your stick on the ice & your cup firmly in place" Posts: 3651 | From: Algonac, MI. 48001 | Registered: Jun 2004
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Just back from dinner and I'm setting some of you characters straight.......
Will, you're a fine one to say "poor woman". I am the "poor man" wearing the same old shoes I wore back 39 yrs ago. Besides, she knows how good she's had it with an easy going guy like me.
Bill.... Condolences?%@#!! Condolences%#@*!! That broad made me make out a will already!!!!
Hwy, many thanks. At least you gave credit where credit is due. You know a great guy when you meet one....ME!!!
finky, again, thanks....old, buttface fart that I am, not all my brain has atrophied, only the frontal lobe. LOL
legal....I am sure that you are truly thinking the best as well. Of course, "the best" being me!!! LOL
And where are my friends Dwman, Doc and all the others who once thought I am a basher and now know otherwise?
Hey, there are not a lot of people who make it as far as I have with an Italian wife!!! Of course, there was always the "horse's head" to fear with some of her relatives!!! Once stopped all conversation with one of my "I-talian jokes". No kidding! Lucky they forgave me.....or did they?
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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No wonder she is so attractive and with a beautiful bone structure! And I am not speaking of your bone structure!!! Bet she keeps you on your toes while skinning you alive, huh? LOL
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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So Ric, if you complain about her pasta she scalps you? That can't be easy. And Wallace, congratulations to you! Maybe she'll buy you some new shoes for an anniversary gift.
Posts: 5729 | From: Wisconsin | Registered: Sep 2003
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Thanks, UP. Have any old ones lying around that might fit? Come to think about it, it might be a bit hard to walk in your shoes!!! She bought me horse puckies!! Said I'm too cheap for anything else. Must be the Scot in me....and if any of you would have said "scotch", you are definitely drinking far too much. LOL
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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italian wife? that explains it...italians never get rid of their husbands no matter how much trouble they are....lol
-------------------- "keep your stick on the ice & your cup firmly in place" Posts: 3651 | From: Algonac, MI. 48001 | Registered: Jun 2004
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Wallace, I truly wish you the best today. Thirty-nine years is a long time these days. Once again you beat me, our 39th will be August 6. So, from one "old fart" to another, Happy Anniversary. And in celebration, I won't argue with you today. But watch out tomorrow. LOL
Posts: 2375 | Registered: Nov 2004
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quote:Originally posted by legaleagle: Wallace, I truly wish you the best today. Thirty-nine years is a long time these days. Once again you beat me, our 39th will be August 6. So, from one "old fart" to another, Happy Anniversary. And in celebration, I won't argue with you today. But watch out tomorrow. LOL
Thanks legal. It is a long time, a VERY long time!!!
PS: Doubt if I will be on for a couple of days, so tweek some other basher!!!
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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quote:Originally posted by bill1352: italian wife? that explains it...italians never get rid of their husbands no matter how much trouble they are....lol
Bill wrote: "no matter how much trouble they are...." Surely, you are speaking of my wife and how troublesome they can be. LOL
PS: Good night, all and thanks.
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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Now this is a good website about companies on the Naked Short Selling Threshold List, hope you like it...
---http://www. buyins.net/ take out space/\
I did a symbol search on USCA, it says they've been on it for 52 consecutive days from 2005-04-29, is that right?........It seems like just yesterday, time flies when you're naked shorted...
I typed in ECPN and found they were on there 6 consecutive days from 2005-02-16
GEMM was on 10 consecutive days from 2005-03-17
Posts: 2634 | From: The highway | Registered: Feb 2004
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just got done reading frizzell's latest report to share holder at gb site he claims insiders want cmkx to fail and are responsible. looks like they are looking for somebody to burn at the stake
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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bond, we would love to see that report re-posted in here. if that is what frizzy is saying it goes right along with what many of us in here have said all along. UC wanted the cash from selling shares & a n/s would be the scapegoat. this SEC problem is icing on the cake in UC's mind. notice saskatawan has said they never supplied the info asked for to get them back to trading. this is where the claims are. this is the mother load of diamonds home town. its also where the neighbors are watching everything you do. since all UC has done is drill a few holes in the ground with an old drill rig. they watched debeers & shore gold & how they went about looking for diamonds. when the float is announced & we see that UC & family own less then 100 billion i wonder if any lights come on in the cults minds. i wonder how many join reality again & how many jump to UC's defense.
-------------------- "keep your stick on the ice & your cup firmly in place" Posts: 3651 | From: Algonac, MI. 48001 | Registered: Jun 2004
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I told y'all a couple of weeks ago to rent "The Producers". I have thought and said it all along, that in the end you would hear them say, "we tried, sorry, no diamonds", then hear the click of a padlock. IF there was any thing of value or potential value it was sold off to the jv's and CMKX is probably holding worthless claims, and will be able to say, sorry shareholders. For a year now I have asked why do y'all think this company is not clear, forthright, and forthcoming, with the state of affaris, and the only replies, (which I never bought into), is "The Master Plan", secrecy from competitors, I not being able to understand this complicated play. Well, it's getting down to the wire, and in the end I think it will be clear enough for a 6 year old to understand, you been HAD!
-------------------- A million seconds is 13 days. A billion seconds is 31 years. Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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It won't matter. The hearing will go off, CMKX will be revoked and the sad thing is a six year old could understand but the koolaid drinkers never will. They will cry and call the SEC names and blame them. Then carry a banner that this isn't over and we will get our registration reinstated just like over on the USCI board right now. Denial, denial yet they will never give in, until UC goes to jail. And then it will still be the SEC fault.
-------------------- Invest with your brain not with your heart. Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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So, if CMKX stock is cancelled, what becomes of the company? I mean, it's not like they are going bankrupt is it? Re-establish the stock with a reverse merger?
-------------------- May your trading build your character as well as your portfolio. Posts: 1763 | Registered: Jan 2005
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They can't re-estabish the stock. Thats illegal. CMKX shareholders will own a private stock that can not be traded in public. If the try a reverse merger or spin off the SEC would step in and revoke the new shares automatically. No hearing needed and someone would probably go to jail for trying. The only option is a appeal and thats real hard in this type of case. The longs will pull out overturned cases but none of those cases involve lies on form 15 and no filings before trial. The SEC takes selling unregistered shares seriously. Also this is so obviously a scam I just can't understand how some can't see it.
-------------------- Invest with your brain not with your heart. Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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I really have a hard time believing anyone thinks a company with 704 billion o/s is nothing but a scam. That in itself is reason why the Social Security plan that Bush is pushing shouldn't be passed. I mean the 704 billion to me is enough but all the signs are here for a scam. PR's that say just enough to make you think something but tells you nothing. Shows you pretty maps but never once have they showed proof of any minerals being found. Talks about how well others are doing but never states what we are doing. The providence they are in has stop them from selling more unregistered shares. This is so clearly a P&D that its scarey they got by with it. But the reason people call these koolaid drinkers is that everyone seen that the Jim Jones cult was a cult And that these people were in harms way but those inside the cult couldn't see it. They thought they were being wronged and finally drank the koolaid and killed themselves to keep from having the cult tore apart. And thats why people call this a cult stock. And its scarey too to think these people think of themselves as investors.
-------------------- Invest with your brain not with your heart. Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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[QUOTE]Originally posted by bill1352: [QB] legel if it was just a case of a wrong number i agree, shutting down would be wrong, but its not. its trading shares illegaly, why do you think saskatawan shut them down. ---------------------------------------
The Saskatchewan halt also had this clause in it....
5. The Respondents have, with the intention of effecting trades in the securities of CMKI and CMKM, made statements which they know or ought reasonably to know are misrepresentations, contrary to subsection 44(3.1) of the Act;
So they were also shut down for making false claims on their pr's it looks like.
posted
bill, note that Melvin is named in the Sask complaint. Probably over some "Mt.St.Helens" comments or "feet tingling" standing on the kimberlite. Hardly an indictable offense, and who knows yet, maybe it will be a Mt. St Helens. You see, that's why we have trials.
Posts: 2375 | Registered: Nov 2004
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posted
Author Topic: E-Trade Red Flag? A Certificate Dance
particleswaves Diamondologist
member is offline
Posts: 359 E-Trade Red Flag? A Certificate Dance: « Thread started on: Apr 30th, 2005, 08:30am »
-------------------------------------------------------------------------------- A few days after Utah's Senator Bennett cited GLKC as a shorted poster child I made two modest purchases, one for 3500 shares through Ameritrade and the other for 3600 shares through Wells Fargo. I thought it might be interesting to prove a short position first hand by purchasing shares in a company that reportedly already had over 100% of it's shares sold (and "legally" documented). I was a little surprised that both buys filled within 10 minutes. Just after settlement date (three days later), I requested certificates from both brokers. The cert ordered through Ameritrade appeared in three weeks with an Ameritrade return address. The cert had a pasted on cusip number which prompted me to call the transfer agent to confirm authenticity. The TA checked his books, found my name in the proper place with the proper cert # and also shared the fact that the SEC had been in their office recently auditing the books re GLKC. As an aside, the young man I spoke with at the TA office (he was not the boss) was largely in the dark on the issue of failures to deliver so I directed him to a few salient web sites.
Getting the Wells Fargo cert however has become predictably (and almost amusingly) problematic. I found it interesting that Wells Fargo (at first) felt free to communicate in a forthright manner in their written responses to my emails. So, FWIW, following is a blow by blow account of the "GLKC Certificate Dance" with Wells Fargo and where the unfulfilled request stands as of now: that Wells Fargo would actually name E-Trade as the short broker/dealer is additional food for thought and a possible giant red flag, IMO.
----- Original Message ----- From: "Online Brokerage Customer Service" To: < Sent: Monday, April 18, 2005 1:56 PM Subject: Re : Your Wells Fargo Inquiry #7482-003312-9002\33129002
> > Dear Dennis Smith: > > Thank you for sending us your inquiry regarding a certificate for your > Global Links position. > > We are researching your request and will contact you directly as soon as > we have completed our investigation. Please allow us five business days to > complete our research. > > Meanwhile, if you have any questions, or would like additional assistance > with your account, please do not hesitate to call us anytime at > 1-800-TRADERS (1-800-872-3377).
It's been five days. What kind of "investigation" are you doing? It seems to me a rather simple request.
What's up?
Dennis Smith
************************************************************************ > Dear Dennis Smith: „« > Thank you for your patience. > > Your position is now available to trade. We were awaiting full delivery > of the shares from the transfer agent. Unfortunately, due to some unusual > circumstances, this took longer than we expected. We regret any > inconvenience this may have caused. > > If you have any questions, or would like additional assistance with your > account, please do not hesitate to call us anytime at 1-800-TRADERS > (1-800-872-3377). > > Thank you for your business and your continuing relationship with Wells > Fargo Investments. > > Sincerely, > > Wells Fargo Investments
Could you please tell me what the above message means? What exactly are the "unusual circumstances"?...I do indeed notice inexplicable (at least to me) entries regarding GLKC under my "history" and would appreciate a clear explanation. Also, what is meant by "your position is now available to trade? My understanding is that "my position" has been available for trade since settlement date and should have been continuing until the certificates (that I requested weeks ago) were mailed. Have you now in fact received the certificate(s)? Have they been mailed to me per my original request? If not, when may I expect them?
Thank you in advance for your reply enlightening me regarding all the above. Dennis Smith
**********************************************************************************8 Dear Dennis Smith:
We have re-requested the delivery of a certificate for your GLKC shares. However, we are still unable to ship a certificate for those shares at this time. Below is a brief explanation regarding this situation.
The broker/dealer from whom your shares were purchased is short 5,000,000 shares versus the street. A broker/dealer is allowed to sell shares which they do not own, which they will buy at a later date and deliver. Unfortunately, certificates cannot be issued on those shares until the shares are actually delivered to us.
We attempted to purchase shares into our house account from another broker/dealer in order to issue your certificate. However, the only broker/dealer offering shares of GLKC in the market is the one from whom we purchased the original shares.
The notations you are seeing in your account history are requests to issue your certificate when the shares are delivered to us from the other broker/dealer. Each day the request is being delayed pending the delivery of the shares to us.
While we are unable to issue a certificate for the position, you may trade the shares at any time.
If you have any questions, or would like additional assistance with your account, please do not hesitate to call us anytime at 1-800-TRADERS (1-800-872-3377).
Thank you for your business and your continuing relationship with Wells Fargo Investments.
Sincerely,
Wells Fargo Investments
Investment and Insurance Products: Are NOT Insured by the FDIC or any other government agency - Are NOT deposits of or guaranteed by the Bank or any Bank affiliate - May Lose Value
Thank you for both the information and for the promptness of response.
I'm a little new to all this but am nonetheless concerned about a broker/dealers apparent ability to "sell what they don't own" until a "later" date. Exactly how later is "later"? Is not a 5,000,000 short position cause for alarm? What happens if my shares are simply electronic counterfeits which are never covered (I believe in that instance they are called "naked shorts" or "failures to deliver") and for which no certificates will ever be available? What would be your position? Who is the subject "broker/dealer" from whom you acquired my "shares" and what is that dealer telling you about his apparent failure to deliver? As I understand it, a shareholder is entitled to physical certificates in every event, assuming the buy was legitimate.
There seems to be something rather suspect going on here and I'm wondering if WF (and by extension my wife and I) might be the victim of questionable trade practices by your market maker.
I am growing quite concerned about all of the above. Thank you in advance for your response addressing those concerns.
> Dear Dennis Smith: > > Thank you for your inquiry. > > The other broker/dealer who is short shares of your security is E*Trade. > Though this type of activity makes it difficult to issue physical > certificates, it is legal and within regulations. > > There is no definite date by which E*Trade would have to purchase the > shares. In many cases, a broker/dealer will sell shares they don't hold > hoping that the price will fall. If it does fall, the broker/dealer will > buy the shares at that time, and deliver those newly acquired shares, > making a profit. If the stock price continues to rise, the broker/dealer > will eventually buy the shares and deliver them to prevent any additional > losses. > > According to our trading desk, E*Trade was the only broker/dealer offering > shares of GLKC yesterday. This has been the case since you originally > requested your certificate. Anybody who has purchased this security in > that time period has likely purchased the shares from E*Trade. > > You are free to sell the shares anytime. When E*Trade acquires shares, > they would be delivered to the current owner. However, a certificate > cannot be issued until the shares are actually received. > > A vast majority of equity positions are held in street name. Very few > physical certificates are produced at this time. Client positions are > held electronically by brokerage firms. > > A physical certificate may be produced for most positions if the client > wishes to hold the certificate personally. In most cases, physical > certificates are discouraged. When shares are to be sold, the physical > certificate needs to be verified and then deposited in your account, where > it than then be sold. This frequently delays the sale. Shares held > electronically can be sold at any time, without delay, during market > hours. > > We apologize if this is confusing. Additional information is available at > the New York Stock Exchange Web site (www.nyse.com), the Nasdaq Web site > (www.nasdaq.com) the the US Securities and Exchange Commission > (www.sec.gov). > > If you have any questions, or would like additional assistance with your > account, please do not hesitate to call us anytime at 1-800-TRADERS > (1-800-872-3377). > > Thank you for your business and your continuing relationship with Wells > Fargo Investments. > > Sincerely, > > Wells Fargo Investments > > Investment and Insurance Products: > Are NOT Insured by the FDIC or any other government agency - Are NOT > deposits of or guaranteed by the Bank or any Bank affiliate - May Lose > Value
Dear Wells Fargo:
Thank you again for your prompt and informative response(s) to my concerns re difficulty in obtaining certificates for GLKC. While I appreciate the "education" this appears to be an extremely murky and suspect situation. I am left with the uneasy feeling that my GLKC shares are no more than electronic counterfeits if there are no company issued (or Transfer Agent issued) certificates to back them up.
You stated there is no definite date by which E-Trade has to purchase the "short" shares that they sold you and that in turn you sold me. How can this be "legal"? What is to prevent them from continuing to sell what they don't own while subsequently refusing to buy the shares back if there are no time constraints? Does this not onerously dilute the value of the legitimate, certificate backed shares if "short" or non-certificate backed shares are allowed to trade along side the true "long" shares? Again, I'm rather new to all this but it seems elementary that the more shares (legit or "short") there are in the trading pool, the less each individual share is worth. In your earlier correspondence you stated the broker/dealer (E-Trade) was some 5,000,000 shares "short" on GLKC which indicates they have been selling what they don't own to a lot of people for a long time. The SEC appears conflicted (and toothless) on this issue so where's the incentive to cover? Collecting money for repeatedly (and blatantly) selling something you don't own does not sound "legal" to me at all. How can this be?
You also indicated that physical certificates were "discouraged" in favor of electronic entries to be held in "street name". Discouraged by whom? I would imagine that the "discouragement" is coming from the very people who sell short with no intention of covering and/or those who have apparently found out how easy it is to counterfeit electronic shares through the DTC's stock borrow program. My research on the DTC reveals that they (at lest so far) refuse to open their books, even though I understand they are a private and for profit entity. Please correct me if I am wrong.
My bottom line is this. I demand the physical GLKC certificate(s) representing the shares I purchased. I do not intend to sell any time soon and intend to sequester the certificate(s) alongside certain other stock certificates that I retain for safe keeping and proof of ownership. I do not accept what appear to be bogus "electronic entries", particularly in light of what you have told me about E-Trade being egregiously short on this particular stock (and who knows how many others). You say E-Trade refuses or is unable to supply the certificate at this time but at some undetermined point down the road when and if the price changes and when and if it is in E-Trade's perceived advantage they perhaps may deign to cover their short(s) and deliver the certificate (receipt) for what they "sold". That is simply unacceptable. In any event, I did not buy from E-Trade; I bought from Wells Fargo. Additionally, your disclaimer of any insurance or guarantee does nothing to inspire confidence in the legitimacy of my purchase.
I dislike having to be "cheeky" or "in your face" about this, but I reject the electronic entry and again demand physical proof of my purchase in certificate form. It appears that both you and I are being taken for an unwelcome ride; what say you?
Thank you in advance for your attention to this matter.
We have received your request for physical certificates. As soon as we are able to order a physical certificate for you, we will do so.
To trade shares in physical certificate form through a brokerage account, the certificates must be delivered to the brokerage firm, verified and deposited. This frequently delays trading the shares by a number of days. In addition, physical certificates can be misplaced, and replacement can by a lengthy process and involve some replacement cost. Finally, if a merger or other corporate reorganization occurs, physical certificates may have to be delivered to the transfer agent, and a new certificate issued. Certificates often surface years after a company has merged, or had repeated reorganizations, and then must be researched and replaced. For these reasons, most brokerage firms discourage the production of physical certificates.
If you would like additional information regarding how trading occurs on the nasdaq and on stock exchanges, please visit the New York Stock Exchange Web site (www.nyse.com), the Nasdaq Web site (www.nasdaq.com) the the US Securities and Exchange Commission Web site (www.sec.gov).
We are unable to provide regulatory details via email.
If you have any questions, or would like additional assistance with your account, please do not hesitate to call us anytime at 1-800-TRADERS (1-800-872-3377).
Thank you for your business and your continuing relationship with Wells Fargo Investments.
Sincerely,
Wells Fargo Investments
Investment and Insurance Products: Are NOT Insured by the FDIC or any other government agency - Are NOT deposits of or guaranteed by the Bank or any Bank affiliate - May Lose Value
So, the above rather clipped message from WF was just received Fri after the close and as you will notice the tone and tenor has changed from “we’re trying to do something” to “screw you”.
Those who use E-Trade may find all this of particular interest; additionally it appears that E-Trade is one of the few broker/dealers still allowing CMKX buys (at five decimals). Not sure what conclusions (if any) can be drawn but one possible scenario may be that E-Trade will be the designated naked short patsy for all shorted stocks, take the hit for all their cohorts and simply declare BK. All the money the E-Trade principals have made from what may be illegal shorting activity could be safely stashed out of the country by now. I hasten to add I am not unequivocally stating this "scenario" as fact; the BK patsy idea is only a "possibility" surfacing in my own belabored thought process, a process that could be totally off-base and/or unduly paranoid. Or not. In any event all is in my opinion and in my experience only and offered simply as grist for the mill.
Posts: 2375 | Registered: Nov 2004
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Impossible, All UC's USCA and JV's have to be registered by law because they own more then 5% so according to the release from CMKX those numbers can't be true. Beside since it was never told what UC owns and whether USCA or other JV's sold there share on the market no one knows. Your post are getting more and more full of it. Other peoples posts with no facts to back them up with. Matter of fact one of the allegations was that UC was giving shares to others to sell on the market so he wasn't caught selling so many shares.
IF WE WANTED TO READ OTHER BOARD KOOLAID DRINKERS WE WOULD GO THERE.
-------------------- Invest with your brain not with your heart. Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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I thought you was going to the race ric, where's the scoop?
Who knows,maybe 4 people from USCA have the 16.9% stated above, to stay under the 5% (show your cards) limit you keep talking about.
Just for arguments sake,R.W. could have 4.999%, so and so could have 4.999%, what's his name could have 4.999%,and whoever could have 1.903% We don't know who has what yet.
Posts: 2634 | From: The highway | Registered: Feb 2004
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Well, It just as easy to say yes they were given shares and sold them for the good life in Las Vegas and the race track. Matter of fact one of the allegations is they did give everyone in there bother shares to sell out the backdoor.
-------------------- Invest with your brain not with your heart. Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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You know, the weekend really does afford everyone time to step away from the market as a whole and CMKX in particular and take a look at things without having your judgement clouded by a bunch of ridiculous posts on both sides of the argument. I don't know how many here invest in anything other than the pennies but my god, step back and really take a look at this company (and I use that term loosely). On any other market, this would be the biggest running joke ever to hit the boards and would have had its doors shut long ago.
Can't those that believe in this stock see what's happening here? They are going to be shut down and you are being played by Urban and co. once again. Guess who's going to come out looking like the bad guy here? Not Urban or any of his cohorts who have done all the wrongs, but the SEC who finally decided to put an end to it. Urban is going to wind up being a martyr while the wrath of the longs will be mistakenly directed at the SEC. They'll claim that the SEC covered up the truth and wouldn't let the naked short position come out because it would cripple the markets as a whole. It's just not true.
CMKX is a tiny criminal company that masterminded a scheme to steal peoples money and to their credit, they were good at it, it worked. And now, the biggest thief of them all is going to walk away scot-free. Sure they might be fined and they will be shut down but that is exactly what Urban wants, "fine me and shut me down, I'll pay the fine and you'll never here from me again." He'll retire a rich man in his gated community and enjoy himself for the rest of his days.
Posts: 5729 | From: Wisconsin | Registered: Sep 2003
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well said upside...i'm hoping in all this at least some of the truth comes out. like the share structure. if the truth becomes know & the float is almost the same as the o/s maybe at least a few of the cult will snap back into reality. nobody likes to be played for the fool. almost everyone has been played at 1 time or another & its very hard to admit it happened but the cmkx cult takes it to a new level.
i have a question for you Legel. i'd like 1 honest answer. if the float is close to 650 billion will you accept that the cmkx stock you own is next to worthless? will you start to understand that it doesn't matter what is found or how n/s cmkx might be there is no real hope of any pps increase?
-------------------- "keep your stick on the ice & your cup firmly in place" Posts: 3651 | From: Algonac, MI. 48001 | Registered: Jun 2004
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I would like to report on my meetings in Las Vegas last week. I met with Don Stoecklein and others in his office. Don is representing CMKM Diamonds, Inc. in the SEC proceeding. I had the pleasure of meeting Urban Casavant, Carolyn Casavant, Ron Casavant, Mike Williams, and Ed Dhonau. Anthony Demint, with Mr. Stoecklein’s office, was present during most of the meetings. There were other individuals present at different times during the day. Mr. Maheu was out of town and unavailable.
Don Stoecklein is spending long hours preparing for the hearing and guiding the work being done to have the proper financials filed. We have reviewed over 1200 pages of documents which were contained in the SEC’s administrative file. Witness lists and exhibit lists have been exchanged. We mutually agreed upon the terms of a confidentiality agreement. There is certain information which could only be disclosed to me with this confidentiality agreement in place. This was discussed prior to my visit to Las Vegas and was not unexpected. I must be privy to certain information to be able to be an effective advocate for our shareholders.
The company is (and has been) concerned about possible naked shorting of company stock. A plan for assessing the naked short position has been discussed. I cannot go into detail about the plan at this point. I can confirm that actions are contemplated which will identify the naked short position which may exist. We will be continuing this investigation as we prepare for the 12(j) hearing. I share any frustration you may have in my inability to disclose to you more specifically our plan at this point. I am trusting that as investors and business people you can understand why I might not be able to lay out in detail how we plan to document any abuses that may have occurred in this stock. I am convinced there are certain people dedicated to seeing this company fail. Some are members of your boards and pose as friends. They have even joined this group and call and email with innocent questions to see our progress. It would not be helpful to you as shareholders to disclose certain things to these people through this forum.
Questions about the float will be answered as we gather information in this investigation.
I have received requests for reserved seating at the hearing and I simply do not have any control over the seating problem.
We again ask for patience if you get this information from some source other than your chosen email. We have switched to a dedicated server that will allow us to handle a virtual unlimited number of emails.
The numbers of our group were discussed on several occasions during our meetings. There was discussion concerning some other companies that are currently battling the naked short issue. It was pointed out to me that we had one thing the other companies do not have-an educated and organized shareholder group. Of course I knew that but I was proud for you folks when I heard others make that comment. Our recent verified numbers are 1,948 shareholders owning 152 billion shares. I look forward to a visit with you on Wednesday or Thursday.
Bill Frizzell
P.S. Many of you will enjoy viewing the witness/exhibit lists which
have been posted on the group’s website.
sorry guys i miss read the article it said our boards cmkx board of directors. i will post the article in the future so you can see it your self
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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