Posts: 1018 Registered: 22-10-2004 Member Is Online
posted on 17-5-2005 at 09:05 PM
Such "death-spiral" schemes are said to involve extensive short-selling and pre-arranged trading, which is carried out prior to the exercise of conversion rights under the terms of a convertible debenture.
A "convertible" security is usually a bond or a preferred stock that can be converted into a different security, often shares of a company's common stock. In most cases it is the holder of a convertible who determines whether and when the conversion is to happen.
The Phxgold posts and mp3, theorize that a group of financiers for CMKX, referred to as the "sellers", financed CMKX in exchange for restricted shares in the company. The theory goes on to say that some of these sellers used their restricted shares as collateral in a naked short scheme to drive CMKX out of business so that they could take over, under their contracts. This would be a form of the "death spiral financing" alluded to in Mr. Frizzells letter today.
"There is an appointed time for everything, and a time for every affair under the heavens" Ecc 3,1
Posts: 2375 | Registered: Nov 2004
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Legal, Since Joe wouldn't answer me, I'll ask you, what is your best guess as to Urbans ownership percentage of the o/s?
Posts: 5729 | From: Wisconsin | Registered: Sep 2003
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posted
Urban would never give up a controlling interest in his company, again. Either he, or he and his family's shares combined. One thing many are forgetting is his "royalty" agreement of 5% on all newly issued shares. That has to be added into the equation as well. 100 billion to 800 billion put an additional 35 billion shares under his control. This, plus whatever he purchased back on the open market would be a number that left he and family at least 51%, though it is reasoned to be much higher.
I brought the Phxgold post and MP3 here concerning a theory that the "premerger syndicate" was composed of financiers for the purchase of the holdings. These financiers were issued 144 restricted shares and could not sell them without a signature (not attached on the shares) by Urban and wait 180 days and file before selling. The theory goes that some of these pre-merger syndicate members used their restricted, unsigned certs as collateral for the shorting of CMKX (NS) in order to death spiral the company into bankruptcy, (note Frizzell's letter) at which time they would, under the contract, be able to take over the company. The use of these certs, made them "long sellers", the term JEFF used, but were in effect using these untradeable shares to naked short CMKX. These pre-merger syndicate folks also enjoy a "confidentiality clause" in their contracts, in which Urban may not identify them except under certain criminal investigations or subpoenas. This could have been one of the reasons, or THE reason, why he took the fifth.
But after that alleged "attack" on his company, he would never allow any person or group of people to threaten him with hostile takeover again. IMO
Posts: 2375 | Registered: Nov 2004
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posted
For the VERY first time, since I was told turdbowl (goferschit) is badmouthing me on another forum I went there to check it out. Guess who else is there....JBCak, byrdturd, etc. He's badmouthing Bob Frey too. That puts me in fine company as far as I am concerned.
I briefly looked around the site and thought some of you may be interested in the following:
"You know what....go ahead and give me hell all you want. I wanted this to succeed as much as anyone. I am in over $30,000......
I can't believe that no one, only because they still want something to happen, does not agree. The guy has shown absolutely nothing to his shareholders to give us any real belief or faith in him as our "Leader" in this whole deal. And now it is all out of control and he won't even speak. The pres of USCA can't believe it either but somehow you guys want to still back him up. Unreal.
Sorry.....nothing against anyone here personally, but what I am saying is legit and I am pissed.....you should be too." ---------------
OVER $30,000 DOWN THE CESSPOOL!
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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posted
Since we are both in this forum together Wallace, could we assume that you are a Christian Trader in disguise?
Posts: 2375 | Registered: Nov 2004
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posted
But it is good to see you getting out and about, Wallace. Perhaps since you are a member of 32 now, you should spend some time there finding out what the rest of the world is saying about this stock. I believe it is over 5,000 convinced shareholders against your 5 or so "merry men" here.
I hadn't seen that thread at 32 yet, but thanks for directing me there. Seems like your "fame" is spreading.
Posts: 2375 | Registered: Nov 2004
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posted
Legal, The reason I ask is because I've seen numbers thrown around from 51% on up to 95% with 65% being the consensus. My question is, if he owns 65% of the o/s, the naked short is proven when coupled with the owners group numbers. Why hold that information back? Release it and let the war begin. If he's keeping it as a trump card as many say, he's playing a very dangerous game. The clock is ticking here and he's saying nothing. If he can prove the n/s, why keep the owners group scrambling? They're not going to prove it before the Judges ruling because # 1, the information is not coming in fast enough and # 2, if it does exist there's not enough people aware of it. It's up to Urban to prove it and I think his silence speaks volumes, he doesn't have the shares to do it.
Posts: 5729 | From: Wisconsin | Registered: Sep 2003
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quote:Originally posted by legaleagle: Since we are both in this forum together Wallace, could we assume that you are a Christian Trader in disguise?
You people over at CT should be so lucky. I'd try to get all of you to "repent"!
Re that other site with turdbowl and JBCak. I am sure they would welcome you. Maybe you could revive your deputies and posse again.
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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quote:I believe it is over 5,000 convinced shareholders against your 5 or so "merry men" here.
I felt merry once, she slapped me. I think she spelled her name differently though.
Posts: 5729 | From: Wisconsin | Registered: Sep 2003
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I just love this crap! "Super Administrator" LMAO What is that, the next best thing to Roger Glenn and walking on water?
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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posted
legel...this is YOUR lawyer speaking...again YOUR LAWYER
1934 Act. To add to our challenge, we are slowly learning about another devious financing technique known as death spiral financing: this is a ******* child of naked shorting. The effects are the same for the most part except a takeover by the financier is sometimes an initial underlying purpose. I cannot confirm that CMKX management entered into any such agreement, but I have serious concerns about the distribution of our stock and how certain people came into possession of that stock. I will have more info for you as my investigation proceeds. As I see it, this is merely one more battle for us as a group.
lets repeat a line in here
but I have serious concerns about the distribution of our stock and how certain people came into possession of that stock.
again with the first part added
I cannot confirm that CMKX management entered into any such agreement, but I have serious concerns about the distribution of our stock and how certain people came into possession of that stock.
i dont see him worrying about outside influance. he can't confirm cmkx management but!!!!! notice the BUT!!!! cmkx is in trouble not because of NSS, not because of some new wild theory that is based on an old filing...how many prs & filings have been flushed. in the green baron interview UC said they were closer to filing & ahead of schedule then should be expected. in court we find out the ppl with the task of getting everything ready can't get the papers needed but we are ahead of schedule...ya right. UC locked up 300 million shares was it? for 3 yrs...yet just over 1 yr later a pr states he has ZERO shares...he gets no divys for that reason the pr says.
if YOUR LAWYER is concerned about cmkx management which has been UC till early this yr i'd start thinking hard about my belief in cmkx.
-------------------- "keep your stick on the ice & your cup firmly in place" Posts: 3651 | From: Algonac, MI. 48001 | Registered: Jun 2004
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posted
bill, you wrote: "if YOUR LAWYER is concerned about cmkx management which has been UC till early this yr i'd start thinking hard about my belief in cmkx."
Urban Casavant is STILL management of CMKX! He is the ONLY officer. The Bd of Dirs (2 people in the case of CMKX) is not considered part of management. By management, I mean operations, not policy making, etc.
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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quote:Originally posted by Upside: Legal, The reason I ask is because I've seen numbers thrown around from 51% on up to 95% with 65% being the consensus. My question is, if he owns 65% of the o/s, the naked short is proven when coupled with the owners group numbers. Why hold that information back? Release it and let the war begin. If he's keeping it as a trump card as many say, he's playing a very dangerous game. The clock is ticking here and he's saying nothing. If he can prove the n/s, why keep the owners group scrambling? They're not going to prove it before the Judges ruling because # 1, the information is not coming in fast enough and # 2, if it does exist there's not enough people aware of it. It's up to Urban to prove it and I think his silence speaks volumes, he doesn't have the shares to do it.
Up, Frizzell was invited by the SEC to file the FOIA request. He is accumulating independent and unimpeachable information upon which to proceed with the prosecution of a case. IMO the judge already has enough information on her desk to understand what has happened with CMKS. I am not in the least worried about her ruling against CMKX.
Posts: 2375 | Registered: Nov 2004
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posted
well then wallace i'd say frizzy is starting to point fingers right where they need to be pointed. he isn't ready to tell his clients they have been had yet but it sure seems he is getting that idea.
-------------------- "keep your stick on the ice & your cup firmly in place" Posts: 3651 | From: Algonac, MI. 48001 | Registered: Jun 2004
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quote:Originally posted by bill1352: well then wallace i'd say frizzy is starting to point fingers right where they need to be pointed. he isn't ready to tell his clients they have been had yet but it sure seems he is getting that idea.
bill, I think you are correct. This may very well end up with his going after Urban Casavant et al in a class action suit. Nothing to do with the SEC proceedings, but possibly as a result of them. However, if there is a class action suit won, guess who is going to get all the money and who is going to get mud from the drill site.
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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quote:Originally posted by Wallace#1: For the VERY first time, since I was told turdbowl (goferschit) is badmouthing me on another forum I went there to check it out.
There ya go again saying things that are not so...
I never said anything bad about you, just said there is bashing here...
Ya did like the crow huh? LOL it was good...
-------------------- Wall-a** is a person who says it cannot be done, he should not interrupt a person accomplishing it. Posts: 86 | Registered: Apr 2004
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I just love this crap! "Super Administrator" LMAO What is that, the next best thing to Roger Glenn and walking on water?
The CT structure has "moderators", "super moderators", "administrators" and finally "super administrators" to manage the boards. Debi is a S Admin and is in charge of "spirituality" on the board. Van is an S Admin and is in charge of "market and investment issues". Noah is an S Admin and in charge of "Research".
They each try to limit their "water walking" to emergency situations.
Posts: 2375 | Registered: Nov 2004
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posted
something the cult members seem to forget or maybe the closed mind has not let it sink in but the SEC has all those records the DTC has. they know the o/s, the street shares & the cert shares. i bet they even have the names on those shares. they know what frizzy is trying to find out. remember part of the charge was questionable distrubution of shares. since this case is not about NSS but about not filing they do not need it for evidence thus cmkx lawyers have no right to it. they know if its shorted & they know if UC owns any. by talking to frizzy they may be setting UC up, they may be cooking his goose for him. he said they asked if he had tryed freedom of info act...i get the idea they want UC for a lot more then not filing.
-------------------- "keep your stick on the ice & your cup firmly in place" Posts: 3651 | From: Algonac, MI. 48001 | Registered: Jun 2004
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posted
legal, then all of you, except dwman, better get your "water walking" shoes or whatever on because you will surely sink. Aren't you missing the "Super-Duper Administrator"? Then, there's the "Leader of the Pack"! Cannot remember the name of the guy who started it all. Not important though.
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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posted
I would think that if you have any concerns about the interpretation of what Bill Frizzell wrote, he would be glad to answer any and all questions pertaining to the information released by the CMKX Owners Group.
Professionals have been involved with CMKM Diamonds for a very long time and we can all agree that there is much to be desired in the skills and performance of many that have come and gone. I think the presence of Urban Casavant and his determination to spend the money, time, and effort to get this thing right, whatever the situation may be is cause enough for a neutral to positive approach to the current stance of the company.
Obviously there have been and will continue to be concerns about what has transpired in the past until we get the information to settle those issues. Regardless of the corporate governance skills of those that have been employed before, Urban still managed to compile a serious amount of assets in the form of claims that amount to 1,000,000 acres or more for CMKX alone and another 60% of 500,000 acres of mineral rights we obtained from Nevada Minerals. Not to mention the Joint Venture properties with United Carina, Consolidated Pine Channel Gold, and Shane Resources. The FALC (Fort A la Corne) claims alone that are near or over 1 million acres are in a direct association with known kimberlite clusters and other minerals that have been "proven" to be in the richest minerals region in the world: especially in Diamonds and Uranium.
Whether you believe or don't believe is up to every individual, but the NSS position, IMHO is proven and will continue to be revealed over the next few weeks or month by the undying confidence of this huge shareholder base of CMKX doing whatever it takes to get the attention of the NSCC, DTCC, and the SEC once and for all.
I guess some could look at the situation with CMKX's shareholders faithfulness to the cause and think it is cultish, but unbelief and slamming it for absolutely no reason is just as cultish in all reality.
Personally, I believe in spite of past performance in the managerial positions of the CMKX accounting realms it will not deter Mr. Maheu, Don Stoecklin, Mr. Casavant, 50,000 plus shareholders from straightening the past and putting it behind and moving on towards a successful future with an overhauled management team, Board of Directors, Business Operation, Development of assets, and resolution of the Naked Short Position.
Maybe I am an optimist, but I've seen antagonist, pessimist, and atheist, and I believe I'll stay on the optimistic side. If for some reason it doesn’t pan out at least I learned a great deal about mining, the market place, and some awesome shareholders working together as a team with their back against a wall.
These are just my opinions and I ask that you treat them as such.
posted
I did think that was interesting myself how the SEC said, well its not part of this case so we can't give it to you but hey Frizzle did you ask for it through the FOIA. Why did they tell him that?? It is interesting. If the SEC was trying to hide information then why tell him that?
-------------------- Invest with your brain not with your heart. Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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posted
Oh, SCHIT!!!! Now we get Dr.D or someone prentending to be Dr.D. There's not enough horseschit out there but what he has to keep dropping puckeys everywhere he shows up?
Posts: 3607 | From: NJ - Outside Phila. | Registered: Mar 2004
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quote:Originally posted by Wallace#1: Oh, SCHIT!!!! Now we get Dr.D or someone prentending to be Dr.D. There's not enough horseschit out there but what he has to keep dropping puckeys everywhere he shows up?
That's the real one.
Posts: 2375 | Registered: Nov 2004
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quote:Whether you believe or don't believe is up to every individual, but the NSS position, IMHO is proven and will continue to be revealed over the next few weeks or month by the undying confidence of this huge shareholder base of CMKX doing whatever it takes to get the attention of the NSCC, DTCC, and the SEC once and for all.
Well, after hearing your name and theories tossed around the internet for a while now, I'm glad you've decided to post here. Please explain why you believe the NSS is proven.
Posts: 5729 | From: Wisconsin | Registered: Sep 2003
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Member Rated: posted May 17, 2005 23:02 -------------------------------------------------------------------------------- legal, wrote: "Rev. Dewayne Reeves is the founder of Christian Traders. He is a "Super Admin" as well."
legal, I couldn't care less about the reverend's life history.
Then why bring it up?
Wallace: Then, there's the "Leader of the Pack"! Cannot remember the name of the guy who started it all.
Posts: 2375 | Registered: Nov 2004
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posted
dr d..welcome..i'm one of the cult of bashers here at allstocks. i will say your posts that have been reposted in here have given me great laughter & at time a serious headache. from what your lawyer frizzy said today i'd seriously think about having faith in UC. in fact having faith in any company that treats YOUR legel rights as a deep dark secret is somewhere long past foolish but its your right. its my right to call a spade a spade as i lost cash on cmkx. soon 1 of our groups will be proven correct & i'd buy shares in a stock that paid on bashers being the correct cult.
-------------------- "keep your stick on the ice & your cup firmly in place" Posts: 3651 | From: Algonac, MI. 48001 | Registered: Jun 2004
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posted
I've been signed up since September of last year. I believe that was my first post.
I try to read and be flexible, knowing that even those that are bashing sometimes have an idea that needs to be pursued. I thought I would say hi. I'll move along. It is amazing though how negatively convinced someone can be with no real facts in their possession, I guess it is "hoping that others hope fails".
But when someone is supportive and positive with the same facts hoping and believing that good things can come, they are branded as brainless, cult followers, etc... Hmmm. Very interesting.
I really don't mind that others don't believe in CMKM Diamonds and what many of us are trying to accomplish for the benefit of the many shareholders that are already involved. I actually find it rather interesting and at times confounding too see such skepticism and unending faithfullness to the cause of being critical and sometimes to the point of slanderous towards others that want to believe.
Knowing the amount of DD and research that I and others have done in CMKM Diamonds and seeing the possibilities aligning with the probabilities I am confident that we will prevail. One can never prevail against a skeptic, cynic, or basher because if they wind up being wrong they will simply change gears to another item of vulnerability.
I don't care of any that have a bad opinion of CMKX ever buys a share because I am not promoting or pumping the company, but only tryiong to support my investment and my fellow investors.
Btw, it is either proven or isn't proven, proof is not a humble opinion it is an absolute.
-------------------- 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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