posted
Little fact, the brokers would need to short CMKX by 2.5 billion shares just to make what they are getting off shareholders now from this cert pull.
-------------------- Invest with your brain not with your heart.
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posted
I said this the other day too. This may not be legal without a written notification to all shareholders.
arnoldjt9 Diamond Finder Joined: Jan 2005 Gender: Male Posts: 55 Location: Prescott, AZ Federal Injunction To Stop This???? « Thread Started on Today at 10:30am »
-------------------------------------------------------------------------------- In speaking with the TDWaterhouse representative last night I was told that there are some serious questions regarding the legality of a CERTS ONLY policy in determining Bona Fide shareholders. The representative stated that its possible that such a policy may require the company to inform ALL SHAREHOLDERS OF RECORD in writing of this new requirement.
In ordering my CERTS last evening, I was also told that because of the massive volume of CERT requests, that there is no guarantee that CERTS can be delivered by the end of the year. The TDWaterhouse Representative also said that they were informed to only take the order from callers, say nothing about costs, and that the order will be processed as soon as possible.
It is also highly possible that an injunction (in federal court) halting any distribution of any CMKX/ETGMF shares or assets may be granted pending a legal review of this CERTS ONLY POLICY (and the current timeframe to deliver CERTS to the "TEAM"). From indications on other boards, and comments from here, it might be beneficial to follow suit with the OG example, and form a collective membership of those who feel they are getting “scrwood”. A class action suit may not get to far, but it could buy additional time beyond the 31 December deadline.
Personally, I too have serious questions concerning a CERTS ONLY POLICY in determining who is a bona fide shareholder. IMO, the Company and the TEAM is taking the easy way out of this mess (that they created in the first place), and I’m going to fight this.
-------------------- Invest with your brain not with your heart.
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posted
Didnt they say the deadline could be extended in some cases?? I assume a delay in getting certs from brokers would qualify as an acceptable excuse?
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed
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Ric you theory sounds about right. add to it UC didn't buy only family & freinds. marthe stewart comes to mind. as for certy only, cmkx is private now not a public company. i don't know for sure but this may exempt them from street held claims as the SEC is now out of the loop.
-------------------- "keep your stick on the ice & your cup firmly in place"
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Will, thanks, I appreciate that. But isn't that the risk we all take with the pennies. I can't find my file on insn right now, I have a file on each of my issues and I think that one is at my friends. So, I don't even remember why I picked that one. Nobody answered my question.. If your stock is revoked, is it worthless and are you still a shareholder? Also not entirely sure a common shareholder has any voting rights as a bond holder or preferred.
-------------------- Eagles may soar, but weasels don't get sucked into jet engines....
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posted
Aaaand.. don't companies relocate in Vegas because Vegas has almost non existent filing rules for small businesses, outside of Delaware. I KNOW I read that somewhere.
S5
-------------------- Eagles may soar, but weasels don't get sucked into jet engines....
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posted
Hi Ed, This is in response to your 10:39 post today. I too have my CMKX shares in a street name with Ameritrade. If one closes their account and they decide unlawfully not to provide the certificates, what proof would we have of ever being a shareholder? I asked a Ameritrade employee over the phone three months ago about receiving my certs. The reply was it would cost me way more than the stock was worth. At that point I dropped the issue.
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posted
If I had to guess, most here probably should think Frizzell for this. I think he probably forced the issue on cert pull to try a prove his short. I always said there was probably a small short around 200 billion and still believe that. The only problem is those that won't pull Cert because they feel its not worth the money. They may make it were nothing is noticed.
[ November 05, 2005, 17:03: Message edited by: Ric ]
-------------------- Invest with your brain not with your heart.
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posted
i agree ric only i think the short is more like 60 to 80 million & some of that is gone in the last few months. that article a few pages back sort of backs my number....lets say it averaged 100 million short per day for 2 yrs. that takes us back to when the pumping hit full force. 200 trading days per yr that gives you 40 billion total short. we know from the fax in deal frizzy had most hold 5 to 10 million shares. 10 million shares would get you about 720 entourage shares & cost about $40 more to get certs & $12 more to trade. (ameritrade numbers) if your very very lucky & the pps is .25 by the time you can sell thats $180 minus the $52 or $130 towards covering the cost of the 10 million shares of cmkx/ i dont think a whole lot of ppl will find that worth the time. many will but most may not.
-------------------- "keep your stick on the ice & your cup firmly in place"
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quote:Originally posted by ed19363: Thanks for the info, legal. I submitted the form to Ameriturd for my certs. Now I wait and see what happens. So far they have not acknowledged receipt of the form, altho it was filed electronically via internet. At the very least, I can repaper my bathroom....LOL
Ed, don't forget, from the Master Shareholders List that AMTD purchased 180 billion certed shares directly from CMKX and still had about 135 billion unsurrendered as of the making of that list. They either expended that kind of money because they thought this was the "stock play of a lifetime"; or they were covering the naked short, and couldn't depend on the DTCC. There should be no reason for them to deny you certs, they spent tens of millions not to.
I turned my request for certs today and received a response saying that I will receive it within 3 to 6 weeks.
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>>>RIC and ALL: Don't under-estimate BOB MAHEU's knowledge of LAW with his BEST lawfirm in the world. They already COVERED all the AVENUES !
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well chalk up his first loss Kissme...when he signed on he stated he would bring the company up to date in its filings & fix its problems with the SEC, or words to that effect, cmkx never filed & are now revoked. personally i'd grant old iron bob a lot of leeway on this 1. i'll bet $100 cash money that UC never told him the whole story. proof of that is his testamony in court, no idea what the company was doing or if they had any employees. remember nothing in his statement said he signed on to only fix a NS.
-------------------- "keep your stick on the ice & your cup firmly in place"
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posted November 05, 2005 20:44 -------------------------------------------------------------------------------- bill, you forgot the fee to unrestrict them. That will bring you to about $0 or minus at your .25 PPS.
are you trying to say that UC or entourage won't pay the cost of switching restricted to unrestricted shares????....lol awwwww come on its all about improving the shareholder value. just because they are charging you to r/s your cmkx shares is meaningless.
-------------------- "keep your stick on the ice & your cup firmly in place"
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posted
a little math...not cult math, first grade math. that Dave Patch article has total FTD for the market for a bunch of days in April. not 1 day had a market total over 500 million so lets use that number.
500 million (CMKX FTD) X 200 (yearly trading days) X 3 yrs = 300 billion
not sure what math would make that into a couple trillion but..............
-------------------- "keep your stick on the ice & your cup firmly in place"
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posted
Legal when your dumping 500 billion shares in 7 months there must be some days like that to handle that kind of p&d. But there was more days that it didn't even hit a billion. And even with those 40 billion days the avg. for the year was 2.2 billion. which hardly covers the dump on the market.
-------------------- Invest with your brain not with your heart.
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posted
You can tell how many kids this stock has suckered in. Just read their post. Plam, borkers, Ameriturd, and other name calling. Sounds like a little girl frat house.
They believe in magic people that can do anything and fantasy worlds. How many companies have proved NSS and got anything in return? Oh but we have a god named Iron Bob. He may not know anything about whats going on but he will make it right.
-------------------- Invest with your brain not with your heart.
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posted
A small pebble makes a ripple across the whole pond.
I tell you what, I'd like something to come out of it, if not for CMKX, then for penny stocks across the board. CMKX did seem to me as if they were "celler boxed" long before all the extra o/s they added.
But just think, what if every shareholder that had a stock on the SHO list pulled their certs.
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quote:Originally posted by Ric: You can tell how many kids this stock has suckered in. Just read their post. Plam, borkers, Ameriturd, and other name calling. Sounds like a little girl frat house.
They believe in magic people that can do anything and fantasy worlds. How many companies have proved NSS and got anything in return? Oh but we have a god named Iron Bob. He may not know anything about whats going on but he will make it right.
HA HA HA Ric, as opposed to the high level of maturity we have seen here in the past. LOLOLOL
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quote:Originally posted by Ric: You can tell how many kids this stock has suckered in. Just read their post. Plam, borkers, Ameriturd, and other name calling. Sounds like a little girl frat house.
They believe in magic people that can do anything and fantasy worlds. How many companies have proved NSS and got anything in return? Oh but we have a god named Iron Bob. He may not know anything about whats going on but he will make it right.
Wouldn't that be a "little girl sorority house"?
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posted
legal, those numbers are the total for the entire market...every trading stocks FTD. not 1 day did that number cross 500 million. if 1 stock had FTD's that passed the rest of the market combined every day for 3 yrs we would have heard about it by now. the brokers may turn the other way a lot but that kind of short would leave them way to open to lawsuit. no .0001 stock is worth that kind of trouble.
-------------------- "keep your stick on the ice & your cup firmly in place"
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posted
if cmkx was shorted 20% of the markets total FTD every day for 3 yrs it would be 60 billion shorted. my question is, who are you going to blame when this cert pull thing shows no NS??? it may help you in the entourage divy but you will still have had to pay to r/s your cmkx shares & instead of just revoked UC will be gone & cmkx no more.
-------------------- "keep your stick on the ice & your cup firmly in place"
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