quote:Originally posted by legaleagle: Street Shares: 272,085,115,795 Cert Shares: 31,567,746,517 Total Shares: 303,652,862,312 Signed Agreements: 5349
You missed a couple of things:
Possibility of profits 0 % Make a book from this joke of a stock 110% Will the shareholders gain from the book profits? No
posted
Kevinw777 is Kevin West, the shareholder named in the Etrade letter. He was the main organizer of the OG and continues to be. Here is a post from him yesterday:
KevinW777 Diamondologist
member is online
Posts: 310 More shares not included in the OBO/NOBO lists! « Thread started on: May 26th, 2005, 11:42am »
-------------------------------------------------------------------------------- A couple of interesting tidbits of information were just brought to my attention from someone familiar with the OBO/NOBO lists and it can mean that the NSS is much higher than EVER imagined!
It seems as though TD Waterhouse Canada is not reporting trades through the DTCC where they would (or should) normally find their way onto the OBO/NOBO lists. Can we get customers of this broker to make some calls and email inquiries to find out if this is true or not. Maybe someone that can record (if legal where you live) the phone call or get it in writing… I would think these questions coming at them would start making them very nervous!
Also, I have learned and it is my understanding that European brokers do not report through the DTCC and therefore their trading would not find it’s way into the OBO/NOBO list either.. WOW, just how many COUNTERFEIT shares are really out there?
Does anyone have any further information on these two items that would either prove or disprove them? Your help in finding out these answers would be very helpful to DD that is going on to find answers to all kinds of questions.
Please post and or IM me any responses or you can email me at kevinw777@AmericaNeedsToKnow.com
posted
It seems as though TD Waterhouse Canada is not reporting trades through the DTCC where they would (or should) normally find their way onto the OBO/NOBO lists. Can we get customers of this broker to make some calls and email inquiries to find out if this is true or not. Maybe someone that can record (if legal where you live) the phone call or get it in writing… I would think these questions coming at them would start making them very nervous! ===========================
this is because they buy shares from the US market. they are reported to tape thru the US mm they buy from. same goes for the european markets except the berlin market. this is why so many stocks want & demand to be delisted from this market. if your read why saskatuwan shut cmkx down it was over cmkx selling unregistered shares, sounds like NS'ing to me only differance it was cmkx ns'ing its own stock.
-------------------- "keep your stick on the ice & your cup firmly in place"
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quote:Originally posted by legaleagle: If most of the naked short is not being reported on NOBO / OBO, then any projections based on it would be skewed.
This whole situation is "skewed" !!!!!!!!! HAHAHAHHAHAHAHAHAHAHAHA
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed
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I wish you all the luck in the world and hope you all get something out of this stock.
I believe that this is going to be an empty shell soon that will never ever move from where it is right now.
I hope for all you that have been faithful to this thing that i am wrong.
I have one question that i would like to know.
who is moving the billions of shares that moves on this everyday. it aint daytraders, and it doesnt make sence that the mms would be moving shares back and forth to each other.
I would love to hear an explanation to this one.
rod
quote:Originally posted by legaleagle: stockrich God of Diamonds
member is offline
Posts: 798 Why a "Settlement" is the answer. « Thread started on: Today at 7:04pm »
-------------------------------------------------------------------------------- A "settlement" justifies all of the *tight-lipped..."no comment"...silent period...hush, hush...pleading the 5th [fifth]...no filing...missing pages from 8k...
...I think you get the message. The point is, the settlement would come with a non-disclousure agreement so that other companies can't benefit from what we know, and what we've done.
Urban has been conspicuously quiet because he has to give off an impression that he is just as likely to fail, as he is to succeed. So, if the agreement is set, and the settlement is made, and the records are sealed. CMKX would remain a complete enigma as to whether they ever really had [the goods] or not. Then, any company trying to use CMKX as a precedent for their own case, may well be chasing...Nothing!
I don't think they are really that worried about CMKX, as much as they are about all of the suits that would follow if the details of our situation got out. That's why I think they [CMKX] have failed to show ANYTHING to the public...because ultimately their best hand will be a Royal-Flush that they will never use. It will quietly be put in to an envelope and sealed, and the cost for that will be a BIG FAT CHECK.
I believe the *silence and the doubt* are the KEY to parties who must pay. Urban know's he's being called a "fool and a thief" by his own shareholder's, but if he satisfy's your curiosity and demands to know the inner-workings of the company...he blow's his hand. And now, why should the MM's pay us, because once we're done [telling our story] every other company out there will use our case to prove their's.
So often you hear on our board "Where are the diamonds!" Well, remember, this is a "stockplay"; it's not a typical long investment...oh sure, it's taking a long time (not really, relatively speaking) but the method of making money here is not based on traditional, standard investment principles. It's more like a game of chess with some very clever players; and right now we've got a serious game of Chicken with some very high-stakes on the table.
Could this be...not what it's supposed to be! In other words, a scam! I guess, anything's possible. But if you look at all of the details [as so many have] it looks more like a well orchestrated Sting. Maybe i'm wrong, and if I am...they got me too!
Stockrich
-------------------- 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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posted
who is moving the billions of shares that moves on this everyday. it aint daytraders, and it doesnt make sence that the mms would be moving shares back and forth to each other.
The faithful will tell you its the MMs buying at .0006 and selling at .0004 or some such nonsense. I dont believe it either. I think its the SEC doing the buying so they'll be rich when they dont shut it down??
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed
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By: bigwig46 31 May 2005, 09:11 PM EDT Msg. 220358 of 220360 Jump to msg. # Letter to SEC: Elimination of Stock Certificates by Lori Livingston
From: Lori Livingston Sent: Friday, May 27, 2005 3:26 PMTo: chairmanoffice@sec.gov; marketreg@sec.govSubject: Elimination of Stock Certificates
To whom it may concern:
I am writing in regard to the recent press release from the Depository Trust Company (DTC) and other recent events and rules regarding DTC eligibility and Issuer rights in regard to DTC participation.
As someone who has been in the transfer agent business for 23 years, I am alarmed by recent developments and trends that all work toward a system of increasing positions on the books and records of corporations in the name of Cede & Co. (nominee name for DTC). As the transfer agent for approximately 300 issuers, I am increasingly contacted by these companies as they seek information regarding the stock ownership in their companies and the underlying trading of those shares in the market. Over the years as the amount of shares held at DTC has increased it has become more and more difficult to determine who owns the shares, who is trading them and if the trading is proper. This trend, and the resulting problems I will detail below, continues to increase because a minority of the total number of shareholders are reflected on the books and records of the corporation, most activity takes place behind the wall of ownership that is designated as Cede & Co. and neither the company nor the transfer agent has any access to the underlying information.
While the press release (which I have attached) heralds the movement toward increasing this trend of dematerialization as a triumph and great progress which will save investors millions of dollars, I see this trend from a different perspective and one which is not only alarming to me but to many of the companies that will be effected by these changes. I also disagree as to whether or not it will save shareholders millions of dollars or merely shift the costs through a different route and into different pockets. Additionally, I see this as continuing the trend of increasing costs to corporations, particularly smaller issuers already struggling with the ever increasing price of being a public company, and further decreased shareholder value based on the additional expense paid by the company.
Furthermore, DTC recently managed to put through a rule change (Release No. 34-50758A; File No.S7-24-04) that prohibits a transfer agent from representing any company who seeks to withdraw from the DTC system. This change effectively leaves companies with no voice or choice in the management of their stock and their ability to have any transparency as to what is actually taking place in the market in regard to their stock.
I receive calls from companies seeking information as they watch millions of shares trade in a single day, who watch their share price decrease in value and who have no access to information regarding who is behind the trading of these shares, or if in fact the trades are at all legitimate. As the system now operates, most companies have a large percentage of shares on their books registered to Cede & Co. This position usually represents a majority of the outstanding stock in any given company. Underlying this position is a system at DTC which is reflected in a Position Listing Reportand this report represents the brokers and clearing firms that hold positions in any given security on DTCs books and records for the beneficial owners (Non Objecting Beneficial Owners NOBOs and Objecting Beneficial Owners OBOs) or shareholders. The trades that take place on a daily basis move between these brokers and clearing firms electronically; however, the Issuer (nor their transfer agent) has any access to this data unless they order and pay for the lists. This is not only expensive for the company, but it also does not tell them anything about who actually owns the stock. For that information they must go to yet another party and that is ADP.
ADP is engaged by the brokers to keep track of the NOBOs and OBOs and to send the shareholders in Street Namereports and communications from the Issuer. Their other vital function is to serve as proxy tabulator for the shareholders who hold their shares in broker accounts. This is a critical function for the public company and one which they are required to perform by law. Given the importance of shareholder voting and communication one would assume that the same requirements placed on transfer agents as to accuracy and reporting would be placed on ADP and Cede & Co. as they usually hold or service the majority of the shares owned in any given company. I have found; however, that when presented with the tabulation reports from ADP the share totals they report sometimes exceed the total number of shares outstanding for the company. Let me restate this because it is a very important part of my concern about a system that is more and more headed in the direction of increased control by DTC. The shares presented by ADP, that are the shares voted by the brokers on behalf of the shareholders for whom they hold accounts, EXCEED when added to the shareholders of record the total number of shares outstanding. As the final judge and inspector of elections I would naturally inquire as to how the number of shares could be higher than the total shares that exist for a company and to my surprise I am told by ADP that they only vote what is reported by the brokers. It becomes the responsibility of the company, and further the transfer agent, to reconcile the numbers so that an annual meeting can be conducted that reflects numbers of share voted that makes any sense.
Where are these extra shares coming from? Why are there no controls on the number of shares held in the nominee name Cede & Co. vs. the ownership on the books and records of the brokers and why is the company not privy to any information unless it pays whatever fees it is told it must pay by the organizations that control the data? There have been a great deal of new regulatory levels of reporting put on companies (i.e. Sarbanes- Oxley Act compliance), but from where I am positioned in the marketplace that does not address what is a far greater problem for issuers shareholders and the integrity of the markets, and that is, who are their shareholders and how are their shares trading?
I will close at this point with a request to the SEC that in the rush to move to dematerialization someone look at the existing system and the inequities that exist in the market based on a companies complete ignorance and inability to know what is actually going on with the shares of their companies and the problems we face in the future as we move toward a system where the brokers, DTC and ADP have more information and control than the shareholders, the transfer agents and the issuers. In fact, as the system is evolving, DTC is de facto becoming the largest transfer agent in the industry even though it is an organization formed by and working for the interests of the brokerage community. If, ultimately, the S.E.C. is in place to protect investors then this issue can not be ignored because in the end when the market is completely under the control of the brokers and the organizations that represent them then the market can neither be transparent nor fair.
I thank you for your time in reading this communication.
Lori Livingston President & CEO Transfer Online, Inc. 317 SW Alder St., Second Fl Portland OR 97204
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Copies should be sent to Congressmen and Senators, in addition to any legal counsel connected with any company affected by the DTC. Otherwise, this will go under the rug with the rest.
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed
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great letter legal in fact i think it deserves its own thread. its something that every penny trader should read & know about. i agree Ed, it needs to end up on every congressman's desk, & bush's to boot. its about time the companies & us shareholders take our fair share of the control.
-------------------- "keep your stick on the ice & your cup firmly in place"
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quote:Originally posted by bill1352: try .00004 cowboy. it needs a 200% increase to see .0001 on bid.
Thanks Bill. I don't even think E*trade will allow you to put in numbers that low.... IMHO. Add me to the list of bagholders unless a miracle happens. Cowboy out.
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SEC Chairman Donaldson Stepping Down By MARTIN CRUTSINGER, AP Economics Writer 23 minutes ago
Securities and Exchange Commission Chairman William Donaldson, picked by President Bush to restore confidence in a stock market shaken by corporate scandals, announced his resignation Wednesday.
A Republican and Bush family friend, Donaldson was an activist who often clashed with traditional GOP business allies. They chafed over what they perceived as an excessive regulatory zeal during Donaldson's tenure.
Donaldson, who turns 74 on Thursday, told the president that "the time has come for me to step down and return to the private sector and my family." Donaldson said he would leave the agency on June 30.
In a letter to Bush, Donaldson cited the tireless work of SEC employees and said the past 2 1/2 years "may well be remembered as the most consequential and productive period in the commission's history."
In turn, Bush wished him well. "Bill Donaldson took on a tough job at a tough time and he delivered for the American people," Bush said in a statement. "He vigorously and fairly enforced our nation's securities laws and helped rebuild the public trust in corporate America that has been important to our economic recovery."
At a news conference, Donaldson refused to speculate about his successor.
Among the names being mentioned to head the agency are:
_James Doty, a lawyer in the Washington offices of the Texas-based firm of Baker Botts. Doty was general counsel at the SEC from 1990 to 1992.
_Peter Wallison, an SEC expert at the conservative American Enterprise Institute in Washington.
_The commission's Republican members, Paul S. Atkins and Cynthia A. Glassman. Both opposed Donaldson on some important votes.
Donaldson rejected the suggestion that he was leaving because of clashes with Republicans over commission decisions. He had sided with the two Democrats on the five-member panel on rules in such areas as stock market trading, hedge funds and mutual funds.
Donaldson said he hoped "there will be no legalistic rollback of any of these key items." He predicted the next chairman "will leave politics at the door."
Bush turned to Donaldson in 2003 to replace the embattled Harvey Pitt, who quit after a series of political missteps.
Donaldson helped put in place the Sarbanes-Oxley Act of 2002. The law tightened oversight of U.S. corporations and came in response to financial scandals at Enron Corp., WorldCom Inc and other large companies.
Donaldson also won approval at the SEC for a number of rules designed to clean up the $7 trillion mutual fund industry.
Various industry groups have increased their criticism of Donaldson in recent months, arguing the SEC was becoming too zealous and unfairly burdening honest companies.
Thomas Donohue, president of the U.S. Chamber of Commerce, spoke in an interview of bringing "the pendulum back ... to have the right balance."
Members of Congress praised Donaldson.
Donaldson helped "restore investor confidence in the markets," said GOP Rep. Michael Oxley (news, bio, voting record) of Ohio, chairman of the House Financial Services Committee. Donald's tenure was marked by "a commitment to ensuring investor protection and the integrity" of the markets, said Republican Sen. Richard Shelby (news, bio, voting record) of Alabama, chairman of the Senate Banking, Housing and Urban Affairs Committee.
Paul Brown, a professor of accounting at New York University's business school, said Donaldson's "array of activities have been impressive and good for investors, but they have not been the traditional conservative Republican-based positions."
Donaldson last month won SEC approval for a plan to overhaul stock trading. He joined with the Democrats on the commission as the two Republican commissioners objected to the new rules.
Under the proposal, known as the "trade-through" rule, stock brokers will be required to accept the best quoted price for any transaction, no matter which market it came from.
The rule is not due to take effect until 2006. Most observers said the SEC probably would take a second look at the issue should Bush appoint a more pro-business chairman of the SEC.
Donaldson's departure and pending vacancies in the two Democratic positions gives the White House the ability to alter the balance of power on the commission. By law, no party can control more than three seats on the five-member panel.
The term of one Democratic commissioner, Roel A. Campos, expires this year. Democrat Harvey Goldschmid has made it known that he intends to return to teaching at Columbia University this fall.
Senate Democrats have suggested that the president nominate the SEC's market director, Annette Nazareth, to fill Goldschmid's slot.
Before joining the SEC, Donaldson had a distinguished 45-year career at the heights of corporate America. He was as head of the New York Stock Exchange, Aetna Inc and investment banking firm Donaldson, Lufkin and Jenrette, which he co-founded.
___
Associated Press business writer Michael J. Martinez in New York and economics writer Jeannine Aversa contributed to this report.
posted
"Donaldson helped put in place the Sarbanes-Oxley Act of 2002."
Looks like Roger Glenn WAS NOT THE ONLY person involved with the above as the faithful tried to make everyone believe. Just as I had previously insisted!!
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The sad part about Donaldson's resignation is that Bush (aka "the shrub") will appoint one of his business oriented cronies who will favor everyone except the public shareholders. So very sad!
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MarketWatch Market Pulse: Knight Capital broker-dealer chief steps down Tuesday May 31, 4:19 pm ET By David Weidner
NEW YORK (MarketWatch) -- The head of brokerage operations at Knight Capital Group , Mony Rueven, will step down, the company said Tuesday. The Nasdaq market maker said Chairman and Chief Executive Thomas Joyce will lead the brokerage until a new chief for the unit is named. Shares fell 5 cents to close at $7.55.
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donaldson did clean up a lot of stuff but in the big money area. it seems the SEC forgets about its red-headed step child the OTCBB. today i sent that letter legal posted from the t/a to my states senators. found a site with a soap box section but it costs to place anything in there & the most read letter had only 200 hits. not worth the $6 to post in that section since most were flamin liberals or stone cold conservatives neither of which would give a crap about the OTCBB.
-------------------- "keep your stick on the ice & your cup firmly in place"
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news on the new guy...GOP OFFICIALS: BUSH INTENDS TO NOMINATE CALIFORNIA REP. CHRISTOPHER COX AS NEW SEC CHIEF. here is a link to his biography. if the LA Times backed him he can't be a hard core republican.
posted
100% electronic will never work. The problem that can happen with 100% electronic trading is there is even worse people then the MM's that can run the market. I know there is not much worse but still. All you need to know is the program. Secrets can't be keep forever. Once some group can figure out what in the program causes a run or downfall they could cause it. Sort of like what a group does now. But the thing about group runs is that MM's know what to look for in one and will know when to make the market more liquid to slow the false upward movement so bottom wont be as hard. I could see computer hackers causing havic with the market and mafia like groups taking over the manipulation. Not that they don't now but it could be worse.
What needs to happen in the penny market. Is more enforcement of the rules, published bid/ask. Run it more like Nasdaq. Requiring pinks to give share structure and dilutions made public. Right now you never know were the shares are coming from, investors, the company, or shorts. If the company had to release that they were diluting it would sure help. There basically needs to be changes in a lot of places to help fix the problem. But were there is money, there is greed and crooks.
Worst of all, when you have comapnies like this one, and PRRM with more shares then the national debt claiming that its everyone elses fault then you will never get change. Scams like this one will never bring attention to the real problems. And just about ever scam out there is now crying wolf. How can someone believe that there is a real problem when the scams are the only ones standing up and crying wolf (loudly at least). It only makes the problem worse IMO.
quote:Originally posted by Ruh420: Is it over yet? Damn!
Anyway, isn't there a way to make stock trading completly electronic? Fire 90% of the brokers and hire Server admins and coders.
If it were 100% electronic every share traded would have all information tagged to it, no need for all this bs.
[ June 02, 2005, 19:03: Message edited by: Ric ]
-------------------- Invest with your brain not with your heart.
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FRIZZELL LAW FIRM 305 S. Broadway, Suite 302 Tyler, Texas 75702 (903)595-1921 E-Mail jmartin@cmkxownersgroup.com
Dear Group Members, June 2, 2005
Please accept my sincere thanks to all of you that have responded to our request for information on certain companies and individuals. We received quite a bit of information that was not known to this office before your help. This will be helpful as we continue our investigation. We will be looking for information on other people and companies in the next few days.
John has told me of many rumors circulating around the message boards regarding things I have said or not said. I have not been answering many emails due to other matters that are taking up my time. It is safe to say that I am trying to provide any significant information to all of the members at the same time through these updates. If it is not being provided to you from these updates, one should have some serious questions about the validity of the information.
We have contacted the FOIA specialist at the SEC and we have made financial arrangements to pay for our requested materials. We have made arrangements for two people to assist the specialist in obtaining our documents. These people have agreed to go in person to the SEC offices to retrieve our information once it is released. The specialist has been very pleasant and it appears we will have the material in relatively short order. We have asked if it is possible to obtain the documents within the next two weeks. We do not feel like there will be a problem obtaining our material in this time frame. I will update you with a more specific time table once I have confirmed specific dates on when we will be allowed to have access to the documents.
I should have an inquiry letter out to TD Waterhouse Canada tomorrow. The letter will be self explanatory. This will be sent to you via another update. Mr. Stoecklein is back in the country. We spoke at length today. I have explained the concerns over the drilling report submitted with the 8K. Mr. Stoecklein has assured us that his office filed with Edgar the entire report he was given. The mystery of the missing Table 1 still looms. He knows our concerns and plans to visit with the individual that sent the drilling report to his law firm. We will get back with more information once we have received it.
Onward,
Bill
-------------------- Invest with your brain not with your heart.
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"He knows our concerns and plans to visit with the individual that sent the drilling report to his law firm. We will get back with more information once we have received it."
Bet I know exactly who that probably was that sent the report to Stoecklein! I nominate Urban Casavant....the one and only CMKX officer!
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what is so unbelievable on that 8k is it has been a few weeks since its release...you know somebody at CMKX has heard its missing table 1 & yet no correction. the table that shows the entire goldtac fly over according to the print in the 8k & the results of that fly over. it's just left out there hanging so rumors can fly. but then i guess i'm still looking for things on diamonds, i forget this was never about diamonds its a set up company to cook the NS'ing mm's & cure the market of its sickness.
-------------------- "keep your stick on the ice & your cup firmly in place"
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