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I sent a complaint about the DTCC to the SEC per dcragun's post and action plan. Below is the response I received.
Dear Mr. XXXXX:
Thank you for your taking the time to alert us to your concerns. The SEC’s Office of Investor Education and Advocacy (OIEA) processes many complaints received from individual investors and others. We keep records of the correspondence we receive in a searchable database that SEC staff may make use of in inspections, examinations, and investigations. In addition, some correspondence received by OIEA is referred directly to other SEC offices and divisions for their review.
Please understand that the SEC conducts its investigations on a confidential and nonpublic basis and neither confirms nor denies the existence of an investigation unless the SEC brings charges against someone involved. We do this to protect the integrity and effectiveness of our investigative process and to preserve the privacy of the individuals and entities involved.
As a result, we will not be able to confirm whether an investigation exists or provide you with any future updates on the status of your complaint or of any pending SEC investigation. You may wish to check our website, www.sec.gov, for information about pending SEC civil actions, administrative cases, and other matters. Please do note that if an investigation or other Commission action is initiated, it is possible you will be contacted by SEC staff for additional information.
I’ve attached a flyer that describes our policy as it will apply to your complaint. Please don’t hesitate to contact me if you have any other questions.
Sincerely,
Cecelia Howell
Lead Investor Assistance Specialist
Office of Investor Education and Advocacy
U.S. Securities and Exchange Commission
(800) 732-0330
www.sec.gov
----------------------------------------------------------------------------------------------
INFORMATION ABOUT SEC INVESTIGATIONS
Each year, thousands of investors ask the Securities and Exchange Commission to investigate the activities of other investors, financial professionals, corporations, brokerage firms, investment companies, stock exchanges, and others. These complaints generally suggest some impropriety or misconduct and sometimes make a plea to the SEC for direct assistance in resolving a grievance.
The SEC has the authority to investigate whether violations of the federal securities laws have occurred, and we make every effort to evaluate promptly and thoroughly the information provided by investors. But we cannot investigate every investor complaint. While many investor complaints do lead to full investigations and, if appropriate, to enforcement actions, we cannot guarantee that our review will lead to further investigation or that the SEC will take any legal action.
We also cannot provide you with updates on the status of your complaint or your request for an investigation. The SEC conducts investigations confidentially for two main reasons. First, we can conduct investigations more effectively if they are not announced publicly. For instance, important documents and evidence can be destroyed quickly if people hear of an investigation. Second, we keep our investigations confidential to protect the reputations of companies and individuals if we find no wrongdoing or decide we cannot bring a successful action against them. The SEC will not confirm or deny the existence of an investigation unless, and until, it becomes a matter of public record as the result of a court action or administrative proceeding.
When there is proof that someone has violated the securities laws, the sanctions may include financial penalties, orders to surrender profits, cease and desist orders, or an injunction by a court to prevent further violations. The SEC may also bar individuals from working for a securities firm, investment adviser, or investment company. We can also ask a federal court to bar individuals from being officers and directors of publicly held companies. In some situations, we may refer a case to the Department of Justice for possible criminal prosecution.
The SEC publishes news releases about its lawsuits and administrative actions, and the news media often report on them. You can read and download the SEC’s “Enforcement Actions” on our website at www.sec.gov/divisions/enforce/enforceactions.shtml. Or you can obtain hard copies by reviewing “How to Request Public Documents” at:
http://www.sec.gov/answers/publicdocs.htm
Or
Submit a written request to:
U.S. Securities and Exchange Commission
Office of Investor Education and Advocacy 100 F Street N.E.
Washington, DC 20549-0213
Fax: (202) 772-9295
Toll-Free: 1-800-732-0330
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LGL, the latest share structure is in the ibox.
It is time to separate the men from the boys. CPRK has always been a risky Pink Sheet stock with a big upside potential, even at $.02+ per share. So if you still believe they can make it then your upside potential at $.0025 is just out of this world.
There are a couple things that I believe have caused the share price to tumble lately:
1. Many brokers are only allowing you to sell and not to buy. That means there is a lot of sell pressure with only a small buy pressure.
2. I am sure some people were aware of the upcoming Sheriff's sale and dumped their shares before it was public knowledge. The interesting question will be if they plan on buying their shares back at a lower price now that this is public information.
I am riding this out.
CPRK, Live long and prosper!
FFF
Tyler, Nice DD!
If I read it correctly Republic Bank had a $1.5M judgement against CPRK that was put aside, and the new judgement is $1.3M.
Or it is possible that I just don't know how to read these and they are cumulative and the total is $2.8M.
In either case it is nice to get some feeling of the dollar values here.
Thanks for posting this.
FFF
Yanik,
Once again, this is not CPRK having a sale. This is a sale being forced onto CPRK for items that have been used as collateral on a loan.
FFF
Here is my take on all this.
Folks, I am about 50 posts behind right now, but I am just floored by the tangents people are taking on this Sheriff's Sale and I need to publish this post to try and levelset everyone.
First, we have seen this type of action before with CPRK and it has always been cancelled before the drop dead date. This is legal posturing by Republic Bank to secure the best deal they can with the loan they have out to CPRK. They threaten to sell CPRK's equipment and CPRK holds out until the last minute and then renegotiates the terms of the loan - and most likely very much in favor of the bank, because CPRK doesn't have any other choice at that time.
Some of you seem surprised by this and are saying that this must mean that CPRK is having financial difficulties. No Shit, what planet have you been living on! But this is nothing new. Why do you think there has been dilution from 2.5B shares to 4.95B shares over the last year? Because they needed money and they had to issue and sell more shares to get it. However, the stock price now is so low that selling more shares isn't a viable option. So we better hope for some MTF or LTF to come through soon, or start cranking out some serious CuCon.
Some of you just don't get what this is all about. CPRK IS NOT the one orchestrating this sale and CPRK IS NOT the one choosing what is in the sale. Republic Bank is forcing this sale, and the items being sold are the items that WUCC pledged as collateral for this loan. If this goes through Republic Bank is going to sell these items and get whatever money they can for them. That is IF this goes through and is not cancelled.
And do you think that CPRK, with no long term financing in place, bought all new components for the floatation mill and just had a bunch of extra, older equipment lying around? There are 3 ball mills in the CPRK floatation mill, and by coincidence?, there are 3 ball mills in the sheriff's sale. In the sale there are also a 1.2MW generator, 2 drill rigs (same as we have been told CPRK is using), backhoes, bulldozer, overhead cranes, air compressor and a number of other trucks and equipment. You are delusional if you think this is just "extra" equipment that CPRK has laying around! IF this sale goes through....well, I don't want to think about that. However, I am sure that CPRK in BK is worth A LOT more than the current market cap of around $12M.
We have seen CPRK get close to the deadline of forclosures, etc. before and then had them cancelled. As a creditor, the bank is doing what they need to do to get the best deal for themselves. And that may or may not include going through with this firesale. My guess is that this will be resolved and CPRK will live on to fight another day.
BTW. I have not sold a single share and I still do not plan on selling any shares. I think CPRK will still pull this off.
IMO
FFF
Elaine24 said she is going Wed., Jan. 20.
Rich shared the name of his contact with me and he is someone who would know all of that information.
FFF
I completed items 2 & 4 - I sent an email to the DTCC (fyi the sstephens@dtcc.com address did not go through) requesting that they provide information to CPRK on why the Chill was put in place and I filed a complaint with the SEC stating that the DTCC would not return CPRK's calls and has not provided them with any information.
I also send a link to dcragun's post to 2 members of the CPRK BOD.
I hope this helps!
FFF
dcragun,
I support this effort and will do my part to contact the parties mentioned in your email.
Finally, a detailed and coordinated plan of attack.
I hereby promote you to General D. Cragun!
FFF
CAncelled email
Sese,
I would submit something to the SEC, but I have no idea what to report. I don't follow L2 data, so I have no data to back up why the price is falling. And the FTD numbers, as I understand it, haven't been updated since June of last year.
So what should we say to / request of the SEC in a complaint?
Thanks.
FFF
Yanik,
at 2.5M shares, you are a long way from owning 1%. You best start buying now at these prices to get to your 50M goal. Or did you mean .1%?
FFF
Candy,
Thanks for representing the shareholders & stakeholders at the wedding. And great job getting some good info in the process.
FFF
I opened an account at Fidelity. They accepted and deposited my certificate with no fee. However, on a trade for a large number of shares of a penny stock, they charge the greater of $8 or 5% of the transaction. 5% is way too much for me. I have not done it yet, but my plan is to transfer the account over to Zecco. I currently have some restricted certificates that are past the restricted date. I need to trade them into the TA for non-restricted certificates. After I deposit those, I will transfer all or some of my holdings to Zecco.
FFF
Glock,
What kind of taxes does this represent? Property taxes, payroll, etc.
Thanks.
FFF
RS500,
I have sent Reg78 numerous requests to disclose the family tie he has claimed between Jensen and Dotson and he has not replied to any of them.
Glockist has posted that he knows the Dotson family and has confirmed that they are NOT related.
FFF
Glockist,
Regulator78 made that claim several times. See posts: 47049, 47167, 47259, 48505 and 48538.
FFF
CDL,
I am going for an LTF that changes up all or part of the management team as part of the terms and then also ends the need for more dilution. If I was loaning $100M to a company, I would want at least partial control of the company and how my money was being spent!
I think they are still a ways off on their financials. It has been reported here that submitting internal financials would get the stop sign removed on pink sheets. So the fact the stop sign is still there tells me that they don't have any current financials that can be submitted. I mean, wouldn't it be a no brainer to submit financials if you had them????
FFF
CDL,
I don't know the answer to that. My guess is that it would be expensive to buy the equipment at this point and for at least the short term, it might be cheaper to rent their services???
FFF
CK,
The crushing company is taking the rocks from the mine and crushing them to 1/4" or less diameter rocks that are then fed into the ball mills for further crushing. I don't know where the outside crushing equimpment was actually located, but when I was there in Feb. 2009, we were told that the rock crushers would be located in or near the open air, roofed area just outside the mill. The crushed rocks would then be dropped through a trap door in the floor (in the area where the white pickup is parked in the video) and onto a conveyor belt that would take them to the ball mills. You can see the area I am talking about starting at :35 into this video I took in Feb. 2009,
CDL,
Which 2?
FFF
CDL,
They did not say they needed to submit AUDITED financials - they just said financials. It has been estimated that it will cost $600k to get audited financials. From my understanding, CPRK could submit internally generated finacials, along with a company statement saying they believe these to be accurate to have the stop sign removed.
If anyone has any firm knowledge on this topic, I would appreciate any info you can add to this.
FFF
Me too.
FFF
Yanik,
CM's contact info is in the IBox.
Charles A. Moskowitz
617-633-2259
Charles Moskowitz [charles.moskowitz@gmail.com]
FFF
Dent1,
There is only 1 person on this board that has ever alluded to Jensen being related to MD. I asked him several times to confirm the relationship and he never replied. Given the source, I highly doubt it.
FFF
I am on a 15 minute delay. Are there any trades yet? At what price did we open and what are we at now?
Thanks.
FFF
CK,
P/E is a multiple on earnings, not revenue. By your analysis, with $2M profit per month, at a P/E of 10, you would have a pps of around $.05.
FFF
Shiznit,
Per JIT, CPRK is getting 1/4 oz gold per ton of CuCon. I believe the 3 grams / ton you are referring to is tons of ore, not concentrate.
FFF
Nate,
It depends on many things:
What is the % of copper in the ore? .5%,1%, 1.7%...
What % of copper is the CuCon? 20%, 30%, 33%,....
What % of the copper are they able to extract in the floatation mill? 40%, 60%, 75%,......
If you are using 1.7% copper ore, and are extracting 50% of it, and the CuCon is 33%, then 1 ton of CuCon takes about 39 tons of ore.
FFF
JIT,
In a post the other day you referred to them at Gold King. However, you haven't mentioned anything in your posts to back up that statement. Is there something about gold that you have not mentioned yet?
Thanks so much for your reports.
FFF
Johnny,
It has been a while since I had this conversation, but I believe I was told that there is no Moly to speak of in the Hidden Treasure mine. However, it is present in some of the other mines on the property. This may be why we are not hearing about it at this time.
FFF
Johnny,
Here is the best I could find on Moly prices. It says that moly has been selling around $12.75 / pound in the 4th quarter 2009. Down significantly from last year.
http://steelguru.com/news/index/2009/11/24/MTIyMDE5/Thompson_Creek_profit_down_on_weak_molybdenum_price.html
FFF
pwf,
Here is what I have been told by people involved with CPRK.
The tailings will flow right into the cementation process and they will extract most of the remaining copper and produce a very high grade concentrate - let's call it CemCon. The CemCon has around twice as much copper as the CuCon (~60% vs ~30%). The CemCon then must be shipped to a smelter and processed just like the CuCon. The cementation process is much cheaper and quicker to implement than an SX/EW.
The benefit of an SX/EW is that this mill will take the copper out of the tailings and produce cathode copper - and thereby eliminating the need for extra freight costs and smelting costs.
I do not know if the cementation process will assist in separating the copper from the magnetite.
I hope that helps.
FFF
Reg,
How is Dotson related to MD? You keep bringing that up, but I have never heard you specify how they are related.
Thanks.
FFF
That PR is from Sept. 12, 2008. It is old news and is not relevant, other than the fact that they state they are interested in working with the company to get through this.
http://www.allbusiness.com/legal/banking-law-banking-finance-regulation/11556067-1.html
FFF
Candy what is the case # on Pacer?
Thanks.
FFF
I own personaly, in my trust, and in an IRA. My company also owns shares.
FFF
pwf,
I have no idea. I suppose it depends on how big of a cementation process they implement. My guess is that they still plan to do the SX/EW down the road, but the cementation process may remove some of the urgency to get it done.
FFF