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No, but they need to distribute enough to cover everyone who holds common stock. They are supposed to treat holders of the same class of stock equally. If they intended to retain some UCAD shares in the company, I think they would have worded it differently.
Rate: 0% From what I've read, you pay a fee each time to load your own money onto the card.
They previously announced via PR they were giving that amount out to shareholders.
From what I've read so far, these prepaid cards are offered via banks not thru Visa itself. The holder pays a fee each time he loads money onto the card and doesn't get charged extra per transaction. Who knows what terms they have negotiated.
Yes, I noticed this. It says in part: "Such statements and all phases of ISAT's operations are subject to known and unknown risks, uncertainties and other factors, including overall economic conditions and any unforeseen change in the markets."
Who is ISAT? There's an OTC company called ISA International Inc which uses that ticker. If you look in this PR of theirs, they use the same forward-looking statement:
http://biz.yahoo.com/bw/040728/285436_1.html This may be who CMKX is getting the cards thru.
Spokes: Those with that amount probably purchased them at a lower price or in multiple orders. It would take $20,000 - $40,000 to get 50 - 100 million today. I don't think too many people are willing to do such amounts in one shot in a penny.
I don't agree with the complicated theories either. IMO one or more folks are selling. It looks like they've been using JEFF to do so. Rule 144 limits the amount a beneficial holder or insider can sell to something like 1% of the o/s every 90 days. IF they are complying with this, it does make one wonder what's generating all this volume. Might be MM swapping shares.
Nevada very recently (like in late June or July of this year) revised their securities law tightning up registration requirements. I forgot to ask when I called the SoS, but the way I read the revised statute I think CMKX probably has to do filings with them now when they issue shares. Need to check w/ SoS to be sure.
lollybella: You said:
"they're not running out of money IMHO. With the billions going through at the ask every day, I believe UC is 'raising' more money!"
The only shares sold at the ask are those which are in the float. For them to get into the float, someone had to sell them right?
Spokes: The reason some people are saying it's not retail buyers is because the blocks are so big. If someone here puts in a buy, perhaps those who have Level II access can check whether it shows up separately or gets combined into a larger block. Another thing to consider is brokerages will first try to fill a trade with shares in-house first. If they don't have sufficient shares to do so, then they'll go to an MM. I suspect they combine orders of those coming in at the same time thus showing up as a larger block.
The seller could be anyone who has been issued shares. If you pull up the old SEC filings and PRs, you can make a list of some suspects. Without current filings, it's hard to make a complete list or even to know how many shares the insiders issued to themselves. Sometimes companies will put in anti-dilution clauses into deals which make the initial issue balloon up as the o/s balloons. Without filings, one can only speculate what's going on.
The volume here could be MMs swapping shares to give the illusion of interest. Wouldn't be the first time it's happened. If people suspect wrongdoing on their part, then IMO they should complain to the NASD and request they investigate. I agree with your other post. Shareholders should press the company for info about the share structure and the seller(s) until they release it.
Nah, I'm not desperate. If any of this terrorist stuff comes true like this: http://www.washtimes.com/national/20040811-123531-3824r.htm , then you may get an opportunity to see what desperate folks really act like.
Are you in Hawaii? If so, on what island.
The SEC does not like insiders chatting on forums with the public. However, I've yet to see any law or regulation forbidding them from doing so or even running their own forums. It's possible Glenn may have suggested they shut it down. If he were really deciding things, don't you think he would stop Melvin and even Urbie from visiting Sterling's chatroom? There isn't much of a difference between a forum and chatroom except the latter one normally doesn't have a written trail of what everyone says.
Do you have everyone on ignore?
Glenn submitted the dividend info to Nasdaq. Many longs have called and verified this already. The 483 billion figure comes from multiplying the 7.5 million UCAD shares they said would be distributed by the dividend rate they submitted like this:
7,500,000 UCAD shares x (1 CMKX share / .000015 UCAD dividend)
It's very odd "longs" keep bashing the company big time by saying CMKX doesn't know their o/s total. Such a comment implies insiders have not been maintaining proper records which is against the law. IMO they do know the amount and have told everyone via the dividend factor plus the number they intend to distribute.
hippie: I've seen it happen in a few pennystocks. Think about it they wouldn't have the margin requirements or trading risk an outsider would.
Richard Altomare from USXP is famous for his relentless screams of naked shorting happening against his stock. The SEC got tired and finally asked for proof which he couldn't produce. They investigated and then filed a lawsuit against him and other insiders for illegally dumping shares:
http://sec.gov/litigation/litreleases/lr18636.htm . Before the SEC filed, Altomore quickly filed a lawsuit against them down in Florida and got really upset when they chose New York for theirs. A few months afterwards, he has the nerve to send out a PR like this: http://finance.lycos.com/qc/news/story.aspx?symbols=BB:USXP&story=200407091300_BWR__BW5076
Here's a guy who has been playing games for many years and accusing MMs of naked shorting to hide his own actions. Unfortunately, there's far more examples like this one than real naked shorting, which I've only seen one case so far.
Haven't you ever run a business or been in management before? What I asked were very legitimate questions.
rockon: Do you mean Thomas Cook? On a court docket, I saw another attorney's name too.
joy: Yes, many stock promoters receive compensation. Those who do must disclose this info otherwise they can get into trouble. Green Baron specifically stated they are not being compensated but their parent company has already purchased shares. If you look back on MY posts, I specifically said they purchased shares and are now trying to get others interested in buying. I never said or implied they were paid promoters. Frankly, there's very little difference between paid promoters and traders who purchase and then send out streams of overly positive reports to others. They both want the stock price to go up so they can dump into the buying. They aren't interested in the future.
OK. I say...either way...I want to have "at least" a small part ($s) in what could be the stock play or the stock investment of a lifetime.
Hey, that's fine with me. If you play, then you're not a "true long". Since there's only two categories of people on this board ("true longs" and "bashers"), you'll be in the latter category as well.
Also...your verbose thoughts/opinions regarding Glenn are just another of your matrixes of rubbish IMO.
You struck me as being more intelligent and objective than many here. I guess I was wrong. Like you, I am entitled to my opinions based on my experience in stock trading. You may not agree with what I said, but I did not post rubbish.
It's CIM -- Casavant International Mining Corporation. It's a private company which was incorporated on 21 Jan 2003. Urbie, his wife, and Koch I think were the original officers. After the dividend announcement was made in that PR, they quickly changed the names in the articles of incorp to Ron Casavant and David Desormeu. Supposedly, this company has the mineral rights for George Lake Zinc Deposit which I think Urbie took with him when he left Petro Plus.
Why do I keep seeing it listed 2 different ways?
CMKM Diamonds' previous name was Casavant Mining Kimberlite International. The two names are very close so they are easy to mix up.
Huh? I responded to his specific question which was on GB's comments about Glenn not what is CMKX' biggest fault.
Urbie has been dealing with these other companies way before Glenn came into the picture. Okay, let's say Glenn is the mastermind as you're assuming, then why in the world would an intelligent man like him want to give away other companys' stocks as dividends to shareholders instead of selling them and using the proceeds to fund CMKX' operations. What is the next step on the share structure -- will they raise the a/s again or r/s?
If he really suspects MMs are artificially elevating trading volumes, then he ought to file a complaint w/ NASD and ask them to investigate.
Actually, the worst types do things very blatantly and publicly not in the shadows at all. IMO they do so because they know the SEC does not have adequate resources to go after all the bad guys in the Nasdaq/exchanges let alone the pennies. Chances are very good they will never get caught and can do their thing for many years. If they do happen to get caught, well who cares because they usually just get a slap on the wrist.
BTW, there are different ways of being in trouble. Some here posted their brokers won't even sell them anymore CMKX shares than they currently have because they live in a state where the stock hasn't been registered.
Not sure what you're even looking for -- they submitted the dividend info weeks ago.
Why don't you google the editor's background. It's quite interesting.
rcm2702: Green Baron tries to cater to stock traders. They don't really care about the future of companies they profile. They purchase shares in whatever target, and then try to generate interest among other traders by sending out streams of overly positive reports. If the group can get the price to go up, they will sell into the buying and then move on to their next victim or wait to buyback and do it all over again. In their own words, Green Baron says: CMKX is “The Stock Play of a Lifetime” not "The Stock Investment of a Lifetime."
As for Glenn, he appears to be a very competent attorney with good credentials. I wouldn't say he is an important part of CMKX' business plan though. He provides legal services for a fee just like CMKX' other attorneys do. If Glenn were an officer/director and actually had a say in the company's direction, then I would agree he might be able to help drive this company to reach its lofty dreams. Right now, the ones driving the ship here are Urbie and the major stockholders. Success or failure lies with them. Glenn only does what he's paid and told to do. If Urbie wants to give out dividends, do mergers, private placements, or whatever, Glenn goes off and does all the legal stuff and advises if something comes up which is against regulations.
I have no idea why Urbie hired a NYC attorney and not a local. Any mediocre attorney should probably be able to handle the securities legal work. My guess is Urbie might be in some type of trouble and needs an attorney with a very good background to dig him out or he couldn't find a local with the credentials he wanted.
Gater: Okay, I did. The thread starts off here about the Green Baron's Report:
http://www.investorshub.com/boards/read_msg.asp?message_id=3773569
This is the one Churak actually responded to.
http://www.investorshub.com/boards/read_msg.asp?message_id=3775844
I apologize to Schmedrickk for wrongly attributing the comment in his post there as his own. He actually pulled it from Green Barron's update.
MM's make money on stock spreads not killing off small public companies. I agree these stocks get shorted and sometimes very heavily; however, it's usually done by insiders or someone very close to the company who has received deep discounted or restricted shares they can do it against.
Gater: I don't see the difference between your analogy here and what he said. Churak's comment was directed specifically at a post about Glenn's presence in a pinkie must mean big things are going to happen.
None of us know CMKX' cash situation. Hopefully, it's healthy so they don't need to issue more stock.
sublime: You really should stop trying to blend in with the "true longs" here. You admitted to selling some of your CMKX shares which automatically takes you out of that category. In other words, you're part of the "they."
Schmedrickk, like many others here, are making HUGE assumptions based on CMKX hiring Glenn. Churak merely and correctly pointed out most attorneys offer a for hire service. When the money is gone, they leave.
Hired attorneys don't get emotionally attached to companies for which they provide legal service, and they don't come in with big plans of their own. They do whatever task(s) for which the client PAYS them -- no more and hopefully no less. In other words, there is nothing "special" about Glenn. He is just one of many, many securities attorneys located in NYC as well as in other parts of the country.
Churak did not say or imply CMKX was running out of money. You really should be asking your question here to the paranoid posters who have read more into Churak's post than what is there.
Drillbit: Ooops, my bad. hehehe
If you really believe Urbie is dumping shares into the float either directly or thru someone, where's the required filings?
bluediamonds: Why don't you give a synopsis of the discussions' main points in your words for everyone here?
I didn't post it to scare off investors. Others have been posting links to promoter sites and messages with outrageous theories over and over treating them as news. Here is a site which is discussing the facts from a different perspective.
Hopefully someday you and the other jokers here will grow up enough to actually want to discuss a stock instead of putting on your little cheerleading skirts and jumping up and down shouting "This stock is going to make me a millionaire."
UPDATE: CMKM Diamonds, Inc.
- Concentric Circles
http://www.stockpatrol.com/schlock/doghouse/u_cmkm4.html
mach: That is very funny.
You and the other attack dogs here are the ones who have been extremely rude. I always give respect to those who have shown it in return.
Dividends are always based on outstanding not the float. All people holding the same class of shares are supposed to be treated equally. Thus anyone issued common shares (restricted or free-trading) should get the dividends. Period.
Both of those two individuals have been folowing the market for years. Sadly, neither one seems to have learned how things really work.
hippie: At $20, the market cap would be $1 trillion dollars and that's assuming "only" 500 billion total are issued over the next 10 years. The dividend fraction shows CMKX already has 483 billion o/s.
Try doing some real DD on the marketcaps of the big boys who actually have a business. Then you'll see your prediction is way out in space. BTW, Walt Disney and CSCO never traded publicly at .07 or even in the pennies.
Is this your very first stock you've ever owned?
These guys are stock traders not "true longs". As mentioned, they already purchased their position and now are trying to attract other traders. IF they are successful in moving this up, when it starts losing steam they'll jump out and the price will deflate like it did last time. Question is: who will win -- the traders or the company diluters?
She's even on this stock. You were up over 1000% and have already lost over 600% because you held on. If the stock were cancelled say tomorrow, who would be ahead you or her?
Greed -- reason many don't make money in the market.
What are the numbers of those three corporations?
No, it was another stock. I don't remember the ticker right now. Did MCSIQ do the same thing?