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I'm serrious but it will have to go through the transfer agent for this to be legit. So $1000 for 100,000,000 of bonified CMKX shares ???
If yes I'll get the ball rolling. Let me know.
If you're serrious I'll take the whole lot at 0.00001
Here is your first offer any higher bids?
I know its a steal but forget CMKX and just take the money
lol
I wonder why ? lol
When an employee does something improper or says something improper at a store, what do they do ... they can them so that they store won't be held liable solving the issue.
When a VP does something improper... what do they do... they move him/her to a new location.
So RG was canned to prevent any future lawsuit against the company, and to save face for the company.
Now they can say RG who ???????????? never ....
we took care of him
What is troubling is that there are phone records from NevWest, which show that they contacted the SEC each time Edwards came in with CMKX certs to sell, many of which were clearly forged and fraudulent, some even "signed" by an individual who had been deceased for months. Instead of taking action to halt the obvious fraud against innocent shareholders, the SEC and NASD (FINRA) ignored the evidence and dozens of other red flags, allowing the scheme to continue unabated, costing unsuspecting buyers of CMKX stock hundreds of millions of dollars.
Now president Obama has not even got his secretary to respond to the letter as thou the little people don't matter to someone of such great importance.
I don't think its too much to ask to respond that this matter is being looked into especially since it involves thousands of people.
Would you not agree?
8-)
Did you know that there are a lot of angry German CMKX investors ? CMKX was sold globally and has generated a lot of interest in Stock fraud.
Case 08-A-569762-C Status ACTIVE
Plaintiff CMKM Diamonds Inc Attorney Koch, David R.
Defendant Viashow Inc Attorney Ryan, Thomas G.
Judge CADISH, ELISSA Dept. 6
Filed Date 08/15/2008 Closed Date
Last Hear 10/07/2008 For DEFT'S MTN TO CONSOLIDATE WITH A569615/02
Outcome GRANTED
Next Hear 04/14/2009 at 08:30 AM For PLTF'S MTN FOR SETTLEMENT CONFERENCE/3
Pre-trial Trial
Disposed Disposition
Consolidated 08-A-569615
Naked Short Sales Hint Fraud in Bringing Down Lehman
http://www.bloomberg.com/apps/news?pid=20601109&sid=aB1jlqmF…
By Gary Matsumoto
March 19 (Bloomberg) -- The biggest bankruptcy in history might have been avoided if Wall Street had been prevented from practicing one of its darkest arts.
As Lehman Brothers Holdings Inc. struggled to survive last year, as many as 32.8 million shares in the company were sold and not delivered to buyers on time as of Sept. 11, according to data compiled by the Securities and Exchange Commission and Bloomberg. That was a more than 57-fold increase over the prior year’s peak of 567,518 failed trades on July 30.
The SEC has linked such so-called fails-to-deliver to naked short selling, a strategy that can be used to manipulate markets. A fail-to-deliver is a trade that doesn’t settle within three days.
“We had another word for this in Brooklyn,” said Harvey Pitt, a former SEC chairman. “The word was ‘fraud.’”
While the commission’s Enforcement Complaint Center received about 5,000 complaints about naked short-selling from January 2007 to June 2008, none led to enforcement actions, according to a report filed yesterday by David Kotz, the agency’s inspector general.
The way the SEC processes complaints hinders its ability to respond, the report said.
Twice last year, hundreds of thousands of failed trades coincided with widespread rumors about Lehman Brothers. Speculation that the company was being acquired at a discount and later that it was losing two trading partners both proved untrue.
After the 158-year-old investment bank collapsed in bankruptcy on Sept. 15, listing $613 billion in debt, former Chief Executive Officer Richard Fuld told a congressional panel on Oct. 6 that naked short sellers had midwifed his firm’s demise.
Gasoline on Fire
Members of the House Committee on Government Oversight and Reform weren’t buying that explanation.
“If you haven’t discovered your role, you’re the villain today,” U.S. Representative John Mica, a Florida Republican, told Fuld.
Yet the trading pattern that emerges from 2008 SEC data shows naked shorts contributed to the fall of both Lehman Brothers and Bear Stearns Cos., which was acquired by JPMorgan Chase & Co. in May.
“Abusive short selling amounts to gasoline on the fire for distressed stocks and distressed markets,” said U.S. Senator Ted Kaufman, a Delaware Democrat and one of the sponsors of a bill that would make the SEC restore the uptick rule. The regulation required traders to wait for a price increase in the stock they wanted to bet against; it prevented so-called bear raids, in which successive short sales forced prices down.
Driving Down Prices
Reinstating the rule would end the pattern of fails-to- deliver revealed in the SEC data, Kaufman said.
“These stories are deeply disturbing and make a compelling case that the SEC must act now to end abusive short selling -- which is exactly what our bill, if enacted, would do,” the senator said in an e-mailed statement.
Short sellers arrange to borrow shares, then dispose of them in anticipation that they will fall. They later buy shares to replace those they borrowed, profiting if the price has dropped. Naked short sellers don’t borrow before trading -- a practice that becomes evident once the stock isn’t delivered. Such trades can generate unlimited sell orders, overwhelming buyers and driving down prices, said Susanne Trimbath, a trade- settlement expert and president of STP Advisory Services, an Omaha, Nebraska-based consulting firm.
The SEC last year started a probe into what it called “possible market manipulation” and banned short sales in financial stocks as the number of fails-to-deliver climbed.
‘Unsubstantiated Rumors’
The daily average value of fails-to-deliver surged to $7.4 billion in 2007 from $838.5 million in 1995, according to a study by Trimbath, who examined data from the annual reports of the National Securities Clearing Corp., a subsidiary of the Depository Trust & Clearing Corp.
Trade failures rose for Bear Stearns as well last year. They peaked at 1.2 million shares on March 17, the day after JPMorgan announced it would buy the investment bank for $2 a share. That was more than triple the prior-year peak of 364,171 on Sept. 25.
Fuld said naked short selling -- coupled with “unsubstantiated rumors” -- played a role in the demise of both his bank and Bear Stearns.
“The naked shorts and rumor mongers succeeded in bringing down Bear Stearns,” Fuld said in prepared testimony to Congress in October. “And I believe that unsubstantiated rumors in the marketplace caused significant harm to Lehman Brothers.”
Devaluing Stock
Failed trades correlate with drops in share value -- enough to account for 30 to 70 percent of the declines in Bear Stearns, Lehman and other stocks last year, Trimbath said.
While the correlation doesn’t prove that naked shorting caused the lower prices, it’s “a good first indicator of a statistical relationship between two variables,” she said.
Failing to deliver is like “issuing new stock in a company without its permission,” Trimbath said. “You increase the number of shares circulating in the market, and that devalues a stock. The same thing happens to a currency when a government prints more of it.”
Trimbath attributes the almost ninefold growth in the value of failed trades from 1995 to 2007 to a rise in naked short sales.
“You can’t have millions of shares fail to deliver and say, ‘Oops, my dog ate my certificates,’” she said.
Explanation Required
On its Web site, the Federal Reserve Bank of New York lists several reasons for fails-to-deliver in securities trading besides naked shorting. They include misunderstandings between traders over details of transactions; computer glitches; and chain reactions, in which one failure to settle prevents delivery in a second trade.
Failed trades in stocks that were easy to borrow, such as Lehman Brothers, constitute a “red flag,” said Richard H. Baker, the president and CEO of the Washington-based Managed Funds Association, the hedge fund industry’s biggest lobbying group.
“Suffice it to say that in a readily available stock that is traded frequently, there has to be an explanation to the appropriate regulator as to the circumstances surrounding the fail-to-deliver,” said Baker, who served in the U.S. House of Representatives as a Republican from Louisiana from 1986 to February 2008.
“If it’s a pattern and a practice, there are laws and regulations to deal with it,” he said.
Fines and Penalties
Lehman Brothers had 687.5 million shares in its float, the amount available for public trading. In float size, the investment bank ranked 131 out of 6,873 public companies -- or in the top 1.9 percent, according to data compiled by Bloomberg.
While naked short sales resulting from errors aren’t illegal, using them to boost profits or manipulate share prices breaks exchange and SEC rules and violators are subject to penalties. If investigators determine that traders engaged in the practice to try to influence markets, the Department of Justice can file criminal charges.
Market makers, who serve as go-betweens for buyers and sellers, are allowed to short stock without borrowing it first to maintain a constant flow of trading.
Since July 2006, the regulatory arm of the New York Stock Exchange has fined at least four exchange members for naked shorting and violating other securities regulations. J.P. Morgan Securities Inc. paid the highest penalty, $400,000, as part of an agreement in which the firm neither admitted nor denied guilt, according to NYSE Regulation Inc.
Enforcement ‘Reluctant’
In July 2007, the former American Stock Exchange, now NYSE Alternext, fined members Scott and Brian Arenstein and their companies $3.6 million and $1.2 million, respectively, for naked short selling. Amex ordered them to disgorge a combined $3.2 million in trading profits and suspended both from the exchange for five years. The brothers agreed to the fines and the suspension without admitting or denying liability, according a release from the exchange.
Of about 5,000 e-mailed tips related to naked short-selling received by the SEC from January 2007 to June 2008, 123 were forwarded for further investigation, according to the report released yesterday by Kotz, the agency’s internal watchdog. None led to enforcement actions, the report said.
Kotz, the commission’s inspector general, said the enforcement division “is reluctant to expend additional resources to investigate” complaints. He recommended in his report yesterday that the division step up analysis of tips, designating an office or person to provide oversight of complaints.
Schapiro’s Plans
“Our audit disclosed that despite the tremendous amount of attention the practice of naked short selling has generated in recent years, Enforcement has brought very few enforcement actions based on conduct involving abusive or manipulative naked short selling,” the report said.
The enforcement division, in a response included in the report, said “a large number of the complaints provide no support for the allegations” and concurred with only one of the inspector general’s 11 recommendations.
SEC Chairman Mary Schapiro, who took office in January, has vowed to reinvigorate the enforcement unit after it drew fire from lawmakers and investors for failing to follow up on tips that New York money manager Bernard Madoff’s business was a Ponzi scheme. She has “initiated a process that will help us more effectively identify valuable leads for potential enforcement action,” John Nester, a commission spokesman, said in response to the Kotz report.
Last September, the agency instituted the temporary ban on short sales of financial stock. It also has announced an investigation into “possible market manipulation in the securities of certain financial institutions.”
No Effective Action
Christopher Cox, who was SEC chairman last year; Erik Sirri, the commission’s director for market regulation; and James Brigagliano, its deputy director for trading and markets, didn’t respond to requests for interviews. John Heine, a spokesman, said the commission declined to comment for this story.
“It has always puzzled me that the SEC didn’t take effective action to eliminate naked shorting and the fails-to- deliver associated with it,” Pitt, who chaired the commission from August 2001 to February 2003, said in an e-mail. The agency began collecting data on failed trades that exceed 10,000 shares a day in 2004.
“All the SEC need do is state that at the time of the short sale, the short seller must have (and must maintain through settlement) a legally enforceable right to deliver the stock at settlement,” Pitt wrote. He is now the CEO of Kalorama Partners LLC, a Washington-based consulting firm. In August, he and some partners started RegSHO.com, a Web-based service that locates stock to help sellers comply with short-selling rules.
Postponed ‘Indefinitely’
Pitt began his legal career as an SEC staff attorney in 1968, and eventually became the commission’s general counsel. In 1978, he joined Fried Frank Harris Shriver & Jacobson LLP, where as a senior corporate partner he represented such clients as Bear Stearns and the New York Stock Exchange. President George W. Bush appointed him SEC chairman in 2001.
The flip side of an uncompleted transaction resulting from undelivered stock is called a “fail-to-receive.” SEC regulations state that brokers who haven’t received stock 13 days after purchase can execute a so-called buy-in. The broker on the selling side of the transaction must buy an equivalent number of shares and deliver them on behalf of the customer who didn’t.
A 1986 study done by Irving Pollack, the SEC’s first director of enforcement in the 1970s, found the buy-in rules ineffective with regard to Nasdaq securities. The rules permit brokers to postpone deliveries “indefinitely,” the study found.
The effect on the market can be extreme, according to Cox, who left office on Jan. 20. He warned about it in a July article posted on the commission’s Web site.
Turbocharged Distortion
When coupled with the propagation of rumors about the targeted company, selling shares without borrowing “can allow manipulators to force prices down far lower than would be possible in legitimate short-selling conditions,” he said in the article.
“‘Naked’ short selling can turbocharge these ‘distort-and- short’ schemes,” Cox wrote.
“When traders spread false rumors and then take advantage of those rumors by short selling, there’s no question that it’s fraud,” Pollack said in an interview. “It doesn’t matter whether the short sales are legal.”
On at least two occasions in 2008, fails-to-deliver for Lehman Brothers shares spiked just before speculation about the bank began circulating among traders, according to SEC data that Bloomberg analyzed.
On June 30, someone started a rumor that Barclays Plc was ready to buy Lehman for 25 percent less than the day’s share price. The purchase didn’t materialize.
‘Green Cheese’
On the previous trading day, June 27, the number of shares sold without delivery jumped to 705,103 from 30,690 on June 26, a 23-fold increase. The day of the rumor, the amount reached 814,870 -- more than four times the daily average for 2008 to that point. The stock slumped 11 percent and, by the close of trading, was down 70 percent for the calendar year.
“This rumor ranks up there with the moon is made of green cheese in terms of its validity,” Richard Bove, who was then a Ladenburg Thalmann & Co. analyst, said in a July 1 report.
Bove, now vice president and equity research analyst with Rochdale Securities in Lutz, Florida, said in an interview this month that the speculation reflected “an unrealistic view of Lehman’s portfolio value.” The company’s assets had value, he said.
‘Obscene’ Leverage
During the first six days following the Barclays hearsay, the level of failed trades averaged 1.4 million. Then, on July 10, came rumors that SAC Capital Advisors LLC, a Stamford, Connecticut-based hedge fund, and Pacific Investment Management Co. of Newport Beach, California, had stopped trading with Lehman Brothers.
Pimco and SAC denied the speculation. The bank’s share price dropped 27 percent over July 10-11.
Banks and insurers wrote down $969.3 billion last year -- and that gave legitimate traders plenty of reason to short their stocks, said William Fleckenstein, founder and president of Seattle-based Fleckenstein Capital, a short-only hedge fund. He closed the fund in December, saying he would open a new one that would buy equities too.
“Financial stocks imploded because of the drunkenness with which executives buying questionable securities levered-up in obscene fashion,” said Fleckenstein, who said his firm has always borrowed stock before selling it short. “Short sellers didn’t do this. The banks were reckless and they held bad assets. That’s the story.”
‘Market Distress’
On May 21, David Einhorn, a hedge fund manager and chairman of New York-based Greenlight Capital Inc., announced he was shorting stock in Lehman Brothers and said he had “good reason to question the bank’s fair value calculations” for its mortgage securities and other rarely traded assets.
Einhorn declined to comment for this story. Monica Everett, a spokeswoman who works for the Abernathy Macgregor Group, said Greenlight properly borrows shares before shorting them.
Even when they’re legitimate, short sales can depress share values in times of market crisis -- in effect turning the traders’ negative bets into self-fulfilling prophecies, says Pollack, the former SEC enforcement chief who is now a securities litigator with Fulbright & Jaworski in Washington.
The SEC has been concerned about the issue since at least 1963, when Pollack and others at the commission wrote a study for Congress that recommended the “temporary banning of short selling, in all stocks or in a particular stock” during “times of general market distress.”
Airport Runway
On Sept. 17, two days after Lehman Brothers filed for Chapter 11 bankruptcy, the number of failed trades climbed to 49.7 million, 23 percent of overall volume in the stock.
The next day, the SEC announced its ban on shorting financial companies in 2008. The number of protected stocks ultimately grew to about 1,000. On Sept. 19, the commission announced “a sweeping expansion” of its investigation into possible market manipulation.
The ban, which lasted through Oct. 17, didn’t eliminate shorting, according to data from the SEC, the NYSE Arca exchange and Bloomberg. Throughout the period, short sales averaged 24.7 percent of the overall trading in Morgan Stanley, Merrill Lynch & Co. and Goldman Sachs Group Inc. on NYSE Arca. In 2008, short sales averaged 37.5 percent of the overall trading on the exchange in the three companies.
To date, the commission hasn’t announced any findings of its investigation.
Pollack, the former SEC regulator, wonders why.
“This isn’t a trail of breadcrumbs; this audit trail is lit up like an airport runway,” he said. “You can see it a mile off. Subpoena e-mails. Find out who spread false rumors and also shorted the stock and you’ve got your manipulators.”
The 85K is a Joke! We are out Millions of dollars not a few thousand. Many shareholders have invested 85K each.
Not me but perhpas some of the other shareholders from Texas.
lol They love their guns.
I think you have it wrong we will make people squirm.
CMKX shareholders are not going away, and in fact the longer they keep delaying this the more of us are gathering.
We are like a swarm of bees ready to charge.
CMKX shareholders are certainly creating a very corrupt picture of the stock market and its being noticed!
It would be easier for someone to pay us off just to shut up.
ha ha ha 250,000,000 is not that much money when they're loosing more millions daily because of what we represent.
We are a buch of real people that got screwed by the current lack of security in the stock market, Transfer agent, and the Banks.
Lets face it, this should not have been possible!!!
Someone with so little education has just proved it!
Over and over!
Looks like the CEO needs more time as the podcast was going to be today. He is going to be toasted unless he gives the shareholders some facts about what is really going on.
Next CEO Chat:
Friday, April 10th
10:00AM Eastern Time
www.toginet.com
Toll-Free Call-in number:
1-877-864-4869
I agree again it doesn't add up. These are some of the brightest people who had access to information about anything and anyone and yet they decided to associate themselves with a little PINKY ??? Not a chance!
One individual is coincidence, two is luck, three is intentional!!! Not even Janice can disagree with that.
Yes I agree something is missing and it just doesn't add up.
If you know what I mean. lol
Odd that Robert Maheu got involved with CMKX why ???
There is more to this stock then we have been led to believe, its the only thing that can explain Robert Maheu's involvement.
I must say I've never seen such an overhaul take place within the SEC in the entire history after CMKX... makes you think...
Who really attracted 60,000 Shareholders!!!
Ask any shareholder what really caused them to buy and you will hear almost 100% say Roger Glen and Robert Mahue!
The SEC somehow thinks the American public cannot see the truth about is just plain stupid and will buy any story to COVER UP their own inefficiency as a regulatory body.
The SEC wants to accuse a few to cover up its own failures as a regulatory agency and how truly bad the system is.
The huge trading in CMKX stock started with the hiring Of Roger Glenn of Edwards & Angell, ..and continued its record trading volume as Robert Mahue took the reins and even became a board Member.
“Glenn stated, “We have been retained by the company to resolve the problems it has been facing, and we expect to devote significant efforts immediately toward that goal. The company has advised us that it is dedicated to complying fully with all requirements on it, and we are pleased to act as counsel to it on that basis.”
CMKM Diamonds, Inc. Announces New Transfer Agent.
Quote from Roger Glen in that PR
D. Roger Glenn of Edwards & Angell, attorneys for CMKM Diamonds, Inc. said “The Company is proud to announce this relationship with Pacific Stock Transfer. It has a fine reputation as a transfer agent, and the Company is looking forward to working with it in the future. The Company is confident that Pacific Stock Transfer will process transactions in the Company’s stock accurately and quickly.
CMKM Diamonds Launched National Television Exposure and Awareness Campaign Business Wire, July 14, 2004
Roger Glen is still counsel for CMKX
CMKM Diamonds, Inc. Announces Dividends to Shareholders of Record Date and Option Agreement.
DENVER—CMKM Diamonds, Inc. (Pink Sheets:CMKX) is pleased to have reached a purchase agreement with U.S. Canadian Minerals, Inc. (OTC BB:UCAD UCAD - UCAD - to which U.S. Canadian Minerals Inc. will be purchasing 5% of all mineral claims held by CMKM Diamonds, Inc. in exchange for 7.5 million shares of UCAD. CMKM Diamonds, Inc. will later issue these shares to all shareholders of record on August 20, 2004.
(Which were never unrestricted by CMKX how convenient!!!)
Roger Gleb still cousel for CMKX… Roger Glen was also counsel for U.S. Canadian Minerals Inc.
CMKM Diamonds, Inc., invested in Casavant International Mining, Inc. Declares Dividend For Shareholders. 7/20/2004
AS VEGAS—CMKM Diamonds, Inc. (Pink Sheets:CMKX) has agreed to invest US$1,000,000 in Casavant International Mining referred to as (CIM). CMKM Diamonds,Inc. will receive in return a 10% lifetime royalty on all mineral claims of CIM , specifically including the George Lake Zinc Deposit, http://www.ir.gov.sk.ca/dbsearch/MinDepositQuery/Default.asp?ID=0663
In addition to the zinc deposit royalty CMKM Diamonds, Inc. was to also receive 40 billion shares of CIM stock which CMKM Diamonds, Inc. whow would distribute pro rata as a dividend to all CMKM shareholders of record on August 31, 2004.
Business Wire, July 26, 2004
CMKM Diamonds Inc. Acquires Additional Interests in Saskatchewan
LAS VEGAS—CMKM Diamonds Inc. (Pink Sheets: CMKX) announced today that it has agreed to acquire a 60%, undivided interest in 500,000 acres of potential Kimberlite mineral property in Saskatchewan, Canada. The property is currently owned by Nevada Minerals Inc., a private company unrelated to CMKM. The property is being developed by a joint venture between Nevada Minerals Inc. and U.S. Canadian Minerals Inc. CMKM will acquire the interest in the property in exchange for 75 billion shares of restricted Rule 144 stock of CMKM. In order to reduce the dilution to CMKM’s shareholders as a result of this transaction, Urban Casavant, CMKM’s CEO, has agreed to contribute 40 billion shares owned by himself in exchange for an agreement from CMKM stating that Casavant will be paid only if the acquired property actually yields a profit. According to the agreement, Casavant will be paid one-half of the net proceeds from any mining on the property, after paying all associated expenses, up to a maximum aggregate total of US$62 million. CMKM will issue 35 billion new shares of the company to Nevada Minerals Inc. to complete the transaction.
Casavant stated, “We are delighted to make the acquisition of this property, which is covered by our proprietary Goldak Airbourne surveys. We will be traveling to Saskatchewan in August with executives from U.S. Canadian Minerals Inc. to view the property owned by CMKM with the intent of planning a drilling schedule.” The drilling will be performed with Rick Walker and United Carina Resources Corp. (CDNX: UCA), Consolidated Pine Channel Gold Corp. (CDNX: KPG) and Shane Resources Ltd. (CDNX: SEI).
D. Roger Glenn, CMKM’s counsel, stated, “I will be traveling to Saskatchewan with the company’s management to expand my knowledge of the company and its business in order to facilitate the company becoming fully reporting.”
Roger Glen still counsel for CMKX notice Quote by Roger Glebb in the above PR
CMKM Diamonds Inc. Receives First $3,000,000 from UCAD Option
Business Wire, July 27, 2004
LAS VEGAS—CMKM Diamonds Inc. (Pink Sheets: CMKX) announced today that it has received this day $3,000,000 from U.S. Canadian Minerals Inc. as the first exercise of a purchase option agreed to last week between the parties. Under the agreement reached last week, UCAD has a one-year option agreement to purchase an additional 10% interest of all mineral claims held by CMKM Diamonds Inc. for a total of $15 million U.S. dollars payable to CMKM Diamonds Inc.
Urban Casavant, president of CMKX, stated, “We are thrilled that UCAD has begun exercising its option as this frees additional cash for our expanding operations and exploration. As we move toward our meeting in Saskatchewan next week with all parties involved, an action plan will be directed to the future for all.”
Roger Glen still cousel for CMKM Diamonds.. Notice the above mention of the meeting in Saskatchewan which Roger Glen was attending.
CMKM Diamonds Inc. Purchases 25% of Juina Mining
Roger Glen still counsel for CMKM Diamonds
(So RG knew exactly what went on and should be held liable for using his name to promote CMKX. Can you imagine President Obama's using his recognition to advertise to invest in the Citi bank if he was well aware of what went on inside the company and promoting it to the point that Millions of people baught in only to Scrw the Public. )
Date: August 2, 2004
CMKM Diamonds Inc. Announces Dividend of Juina Mining Shares.
Roger Glen still counsel for CMKM Diamonds
I CAN GO ON AND ON THE DIVIDENDS I can assume were under the direction of Roger Glen and he did attend the meeting in Saskatchewan. All the shareholders know about it with the thumbs up and all.
Roger Glen increased the Authorized from 500 to 800 billion AFTER THE MEETING IN Saskatchewan.
Robert A. Maheu Joins the Board of Directors of CMKM Diamonds Inc
Business Wire, Jan 31, 2005
LAS VEGAS—CMKM Diamonds Inc. (Pink Sheets: CMKX) is pleased to announce that Robert A. Maheu has joined the board of directors of the company. Maheu will serve as the co-chairman of the board of directors and will assist Mr. Casavant in the immediate and long-term objectives of the company.
Casavant and Maheu will together be looking into the company and setting forth exactly what CMKM Diamonds needs to do in order to be successful in its current endeavors. The two look to bring in a president to the company that has successful history in geology and mining of natural resources.
A quote from Mr. Mahue
“We are not letting these regulatory matters impede our primary focus of creating stockholder value through the mining and development of our mineral assets,” stated Mr. Maheu. CMKX is continuing to search for additional property claims in Canada and monitor its holdings in Ecuador.
CMKM Diamonds trading volume was so huge based on what ROGER GLEN and Mr. Maheu. Stated in PR’S that if the SEC wished to use the word PUMP in its suit and BLAME CHAT BOARDS for the huge volume in CMKX stock, shareholders they think that the American people are stupid enough to buy into this bull.
Neither Roger GLEN nor Robert Mahue formally announced any issues and Deficiencies with CMKM Diamonds or Urban Casavant.
They knew, they knew!!!
Then the SEC claims the stock was tainted yet conveniently excluded the two largest sellers of CMKX STOCK in their suit Ameritrade and Etrade.
The old SEC lied to us and this was verified when they refused a 3 way call to the TA.
Thousands of accounts that had shares of CMKX and CIM were liquidated by those 2 firms mentioned claiming the stock was worthless. I was personally being let to believe by TD Waterhouse who told me on every possible call I had with them that CMKM was no longer in business and how they would be glad to simply wipe off my shares out of my account.
What kind of CRAP were they trying to pull ??????????
If anything the SEC needs to be investigated by Congress for your failure to run an organization on a level playing field without the influence of special interest groups and large financial organizations who fleece the American citizen of their hard earned money!!!
This corruption goes much deeper then the few accused in the suit. We have become slaves to the very people who we pay tax dollars to protect us, and the bailout is just adding to the problem. Institutions getting money to pay off the CEO's, the managers, to get cushy packages does that sound like a wise thing to do ???? We have become debtors to the protection of special interest groups all the way up to hedge funds.
Banks that hide IOU’s as derivatives that they never pay back. Its just saved for the shredder when a cover up is completed. Some say a few good people are protecting us and hopefully there a few good people in the system that will turn this around. American Investors are losing confidence in the Markets and God help us all if the same protocol continues to protect the system at all cost!!!
It was Roger Glens opinion letter that increased the Authorized from 500 billion to 800 billion yet he was never mentioned in the suit, why not ? What about Robert Mahues statements in Pr’s and 8k’s. The News media should convey the real truth but seems to have been controlled.
Many know the truth and many shareholders and others are well aware of the suit that is full of holes..
Here is a partial list from sunbiz.org (State of FL corp. search engine) of companies used by the Tomasi’s / Tomasso’s over the years....
CMKM has liabilities just in this branch of the process…
TRANSATLANTIC COMMERCIAL FINANCIAL LLC
TRANSATLANTIC MORTGAGE FUNDING LLC
TRANSATLANTIC FUNDING GROUP LLC
NATIONWIDE COMMERCIAL GROUP LLC
A.J.T.M. FINANCIAL GROUP LLC
NATIONWIDE COMMERCIAL GROUP LLC
VINTAGE EQUITY FUND LLC
KRKA L.L.C.
K.R.K.A. REALTY INC.
(D.B.A.) SUCCESS REALTY INC
T & T EQUITY LLC
FEDERAL INVESTMENTS LLC
NEWKIRK INVESTMENTS INC
GLOBAL MANAGED FINANCIAL LLC
71ST ST HOLDINGS LLC
ANTHONY TOMASSO (a.k.a) 561 347 2228
ANTHONY J. TOMASI Sr.
ANTHONY J. TOMASI Jr.
KATHLEEN TOMASSO
The SEC is simply underfunded to research these people. The name changes, companies opened and closed to blow out the lien positions of people defrauded and a track record of deceit.
There are many of you who met Urban at the races and spoke with him face to face and believed in him then. For Urban to have bare face lied to each and every shareholder he met, simply does not add up for me at least.
I have always believed as do others that CMKX is very much EVENT DRIVEN.
A) Absolutely NOT! Urban Casavant personally promised but never followed through with any funding that was needed and requested by the company in the first few weeks after he signed the company over to Mr. West at the end of March, 2007. The company has had no communications with Urban Casavant, either directly or indirectly since that time.
Q) According to a CMKM press release, on November 18, 2004 95 Million shares of a company knows as “ Juina Mining “ at the time was transferred to CMKX, then on November 30, 2004 another additional 127 Million shares were transferred to CMKX. At that time Juina Mining had 49% ownership of a company currently known as Diagem. This would give CMKX 18% ownership of this property. Would you be able to elaborate to the CMKX shareholders what has transpired?
A) We have found two deposits of 25 million shares each of Juina Mining stock into one of the many personal trading accounts of Urban Casavant. Our records show that the first Juina Mining dividend was distributed to shareholders in late 2005. Our records do not show any ownership of the Diagem properties by CMKM Diamonds, Inc. The disposition of the 127+ million shares mentioned in the press release dated October 16, 2004 with a supposed distribution date to shareholders of November 30, 2004 is part of our ongoing investigation.
Q) What happened to the Casavant International Mining (CIM) zinc claims?
A) Our investigation shows that in 2005 these claims were transferred into a new company, owned and directed by Emerson Koch. Our evidence indicates that on January 22, 2007 these claims were mentioned in a press release as the principal properties being developed in a joint venture with Golden Arch Resources. The company is giving full consideration to its options regarding these claims.
Q) Do you have any updates with regards to the money that is owed to us and has there been a trial set to recover our assets for CIM?
A) CMKM Diamonds, Inc. has nothing to do with the currently revoked company going by the name of Casavant International Mining Corporation. Feel free to contact the registered agent for this company, Steve Oshins or either of the listed officers of the corporation, Ron Casavant and/or Michael Williams with any of your questions regarding CIM.
I sent a request to Etrade regarding the name change on CIM to casavant mining international equity....this is the response I got back.
From: E*TRADE Customer Service
Thank you for your message regarding your brokerage account. Casavant International Mining is going through a restructuring. It is going to be trading under a new symbol (currently 125809996) once the restructuring is finished. It looks like you have the same amount of shares after the restructuring. However these shares are also restricted like the previous ones that you had.
I hope this information has been helpful. Please let us know if we’ve addressed your questions and concerns satisfactorily by taking a 30-second survey at the following web address:
http://etradefinancialsurvey.com/s04/stu.php?i=164&p;=9744
As always, thank you for choosing E*TRADE FINANCIAL for your investing, banking and lending needs. We encourage you to continue using the Help Center for any assistance in the future. You are also welcome to call us at 1-800-ETRADE1 (800-387-2331) between 7AM and 12AM EST, seven days a week. International customers please dial +1-678-624-6210.
Sincerely,
Jason Frischknecht
11:30 am to 10:00 pm TWTHS MST
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E*TRADE Securities L.L.C.
Via Glenn the SEC knew many things about CMKX. Jump forward to the bizarre Hearing, the delisting decision, appeal period, and then BOOM, please DELIST CMKX...and I am CONVINCED more than ever…
THE SEC IS and HAS BEEN SCRIPTING CMKX MATTERS FOR A VERY VERY LONG TIME.
This is HUGE!
It would explain why RG was involved though :)
lol
Where do you guys come up with this stuff...
Anyhow RG should be held liable for aiding an abbeting CMKX insiders. He knew what he was doing with his Securities background.
I don't understand why is is untouchable ???
Interesting update on the previous post about the G20...
http://news.bbc.co.uk/2/hi/uk_news/7968721.stm
I know Granny and the info has always been very accurate.
I'll see what else I can find out ;)
Organizations that have a reputation to retain will soon realize that they can't simply expect angry shareholders to be silenced out. Things are about to get heated.
I hope some of you got in when AXVC was 0.18 now 0.54 which will most likely go up for a while longer even up to $1 even though all the other stocks are underperforming!
LOL Rule number two: never tell a CMKX shareholder a secret because that secret will get around town quickly!
I swear isn't that the truth.
So now we know what went on in the recent trial.
Why the secrecy thats what I don't get???
CMKX is trying I'll give them that but $2/sharholder is just a shame. They should just use that money to put up another front page article in some major newspaper how millions of dollars went missing and how hopeless all the efforts are of all the agencies involved and how congress is just ignoring the entire group of over 60,000 shareholders that just want to put this thing to rest.
Give us our money back no I don't mean the company since the original CMKX ran off with our money, I mean all the accomplists. MM's raking in their profits, Banks opening up dozens of accounts without a bit of care, Transfer Agent issueing Billions of Certs, the list goes on and on.
Someone needs to deal with this before we have a meltdown on our hands and at some point someone will snap!
When you have nothing to lose you can become a threat!
Helen is gone and had to sell the business so......
Pacific Stock Transfer is the new Agent
just sharing.......... they are very nice fwiw
Great another one gets away selling the business, they scrw us issuing billions on unrestricted Certs and when I spoke to ask very specific questions about the security features of the Certs she laughed explaining what security.
Certs can any any shape and size with any crap as long as someone puts their signature on them. Hence we could be producing Certs on our laser printers they would be just a good. Someone needs to take responsibility for this lack of security on CERTS I have been asking for years why it doesn't exist. No wonder TD waterhouse doesn't want our CERTS !!!
I don't think this is the only thing CMKX did to the shareholders!
Looking at the recent post from ShoreGold below.
What has caught my attention is the Orion South news that ShoreGold has found a 45 cr diamond, which is huge!
Which should make all of us wonder since CMKX had claims within the Orion if they were sold to someone considering the huge value of this land ????????????
Yes our claims were on the North side of the Orion Cookie as they use to call it but...
Is this what happened to our Claims????????
Were OUR CLAIMS allowed to lapse for the right price???????
Did someone who currently owns it send a substantial amount of cash into undisclosed accounts of our fearless CMKX insiders ????????? Who ever owns it right now should be investigated!
How corrupted was\is CMKX!!!
How deep does this go?
I'm sorry but I don't trust anyone associated with CMKX any longer! Especially individuals that were working for CMKX when we got our Certificates.
---
Press Release Source: Shore Gold Inc.
Shore Gold Inc. announces year end results
Friday March 27, 2009, 6:05 pm EDT
Stock Symbol: SGF: TSX
SASKATOON, March 27 /CNW/ - Shore Gold Inc. ("Shore" or the "Company") reports that the audited results of its operations for the year ended December 31, 2008 will be filed today and may be viewed at www.sedar.com once posted. A summary of key financial and operating results for the year are as follows:
Highlights
- Announced a National Instrument ("NI") 43-101 compliant Mineral
Resource estimate for the explored portion of the Star Kimberlite in
June 2008 as well as an updated NI 43-101 Mineral Resource estimate
in February 2009 which includes Indicated Resources of 152 million
tonnes of kimberlite at a diamond grade of 13.5 carats per hundred
tonnes ("cpht") and Inferred Resources of 26 million tonnes at a
grade of 11.7 cpht
- Submitted a project proposal for a joint Star-Orion South Diamond
Project to the Saskatchewan Ministry of Environment
- Announced an updated geological model for the Orion South Kimberlite,
which significantly increases the tonnage of Early Joli Fou ("EJF")
Kimberlite, the EJF being the target lithology for diamonds in Orion
South
- Announced seven sets of diamond results from the underground bulk
sampling program on Orion South, with total diamond recoveries
announced to date of 1,816.33 carats from 20,510.75 dry tonnes
processed
- Completed FALC-JV large diameter ("LD") drilling in late January 2009
and terminated underground bulk sampling of Orion South in February
2009
- Incurred expenditures of $38.4 million on the Company's share of the
Fort à la Corne Joint Venture ("FALC-JV") exploration program, $7.9
million on the Star Diamond Project advanced exploration program and
pre-feasibility study and $3.0 million on other properties, which
included the Buffalo Hills Joint Venture
- Announced the project budgets for 2009, consisting of $2.5 million
for the Star Diamond Project and $10.5 million for the FALC-JV
- Had working capital of $23.6 million at December 31, 2008 - Had
issued and outstanding shares of 199,904,242 at December 31, 2008
Overview
Star Diamond Project
The Company continues with the Star Diamond Project pre-feasibility study. This primarily involves desk-top engineering studies and data analysis required to convert the Mineral Resource to a Mineral Reserve and a feasibility study conforming to NI 43-101 and CIM standards. The Company recently announced an updated NI 43-101 compliant Mineral Resource estimate for the explored portion of the Star Kimberlite (See SGF News Release February 27, 2009), which supersedes the previously published Mineral Resource estimate (See SGF News Release June 9, 2008). The updated Mineral Resource estimate increases the indicated tonnage and contained carats for the Star Kimberlite by 23 percent when compared to the initial Mineral Resource estimate published in June 2008. The updated Mineral Resource estimate includes Indicated Resources of 152 million tonnes (previously 123 million tonnes) at a grade of 13.5 carats per hundred tonnes (previously 13.6 cpht) and Inferred Resources of 26 million tonnes (previously 30.3 million tonnes) at a grade of 11.7 cpht (previously 13.1 cpht). This updated Mineral Resource estimate includes the diamond results of eight additional large diameter drill holes: five holes on the Company's Star Property and three holes on Star West (the portion of the Star Kimberlite within the FALC-JV), totaling 1,368 metres of drilling with 306 metres in kimberlite. This updated Mineral Resource estimate also incorporates additional diamonds recovered from concentrate and tailings audits as well as the geology's influence on the diamond distribution within the Star Kimberlite. The updated Mineral Resource estimate has been prepared by an independent Qualified Person ("QP") from P&E Mining Consultants Inc. ("P&E").
In addition to the Mineral Resource estimate determined by P&E, a further 60 to 70 million tonnes of the Star Kimberlite is designated a 'potential mineral deposit', as detailed core logging, whole rock geochemistry, geophysical and density measurements confirm the geological continuity from the Inferred Resource into this part of the kimberlite, which is contained within the 276 million tonnes originally defined in the geological model for the Star Kimberlite (Shore News Release Oct 17, 2006). The 60 to 70 million tonne potential mineral deposit is conceptual in nature and is not a resource estimate. It is uncertain if additional exploration work would lead to the kimberlite presently included in the potential mineral deposit being upgraded to a resource category.
During the fourth quarter of 2008, a project proposal for a joint Star-Orion South Diamond Project was submitted to the Environmental Assessment Branch of the Saskatchewan Ministry of Environment, in addition to various Federal agencies (See SGF News Release November 3, 2008). This project proposal is the first step in the Environmental Impact Assessment ("EIA") process. The EIA process initiates discussion about the implications of the project with regulators and the public. The project proposal contains a detailed project description of the Star-Orion South Diamond Project, which includes an open pit on the Star Kimberlite, a potential second open pit at Orion South, a common processing plant and associated infrastructure.
Community engagement activities will form part of the Environmental Impact Statement which will be submitted to the Saskatchewan Minister of the Environment at the conclusion of the Assessment. Community Open House meetings conducted by Shore in furtherance of the Star-Orion South Project Proposal were successfully launched in February 2009 (See SGF News Release February 11, 2009), with local communities showing overwhelming support for the Project.
The shift in focus from data gathering to data interpretation has allowed Shore's 2009 budget on the Star Diamond Project of $2.5 million (See SGF News Release January 6, 2009) to be significantly reduced from past budgets. This budget enables Shore to focus on the completion of the pre-feasibility study and the delivery of an NI 43-101 compliant Reserve estimate for the Star Diamond Project during 2009. Shore anticipates the delivery of a final feasibility study on the Star Diamond Project by the end of the first quarter of 2010.
FALC-JV Exploration Programs
During 2008, the major activities on the FALC-JV were focused on Orion South. The Company announced an updated geological model for the Orion South Kimberlite, which forms the southern part of the Orion Kimberlite Cluster within the FALC-JV (See SGF News Release October 21, 2008). This updated model has resulted in a significant tonnage increase for the Early Joli Fou ("EJF") Kimberlite, the EJF being the target lithology for diamonds in Orion South. This update was the result of the integration of 2008 core drilling data into the Orion South geological model. While the total estimated tonnage has decreased to between 333 and 375 million tonnes (previously estimated to be between 360 and 400 million tonnes), the EJF tonnage estimate has increased to between 210 and 234 million tonnes (previously estimated to be between 176 and 196 million tonnes).
Underground bulk sampling of Orion South began in the second quarter of 2008, after the shaft reached its targeted depth. To date, the Company has announced seven sets of diamond results from the underground bulk sampling program. Total diamond recoveries announced to date are 1,816.33 carats from 20,510.75 dry tonnes processed.
The majority of tonnage reported thus far was derived from the Pense Kimberlite and was required to be sampled in order to access the target EJF Kimberlite located to the south and north of the shaft. Included in these results was a 45.95 carat diamond, which is a fragment of a larger stone, and is the largest diamond recovered from the Orion Cluster to date. The occurrence of the 45.95 carat stone within the Pense Kimberlite confirms the prospects of coarser grained parts of this kimberlite lithology and the large stone potential of Orion South. Underground bulk sampling of Orion South terminated in February 2009. It is anticipated that the majority of the remaining underground samples to be processed and reported will be derived from the EJF Kimberlite. Thus far, the Company has recovered from the targeted EJF Kimberlite 925.52 carats from 5,479.79 tonnes, for an average of 16.9 cpht.
In addition to the underground bulk sampling program on Orion South, LD drilling was undertaken on Orion South, Orion North, Taurus and Star West. The Taurus Kimberlite Cluster lies to the west of the Orion Cluster and includes eight coalescing kimberlites that result in over six kilometres of contiguous kimberlite (See SGF News Release February 25, 2008). Diamond concentrate samples have been dispatched by Shore, and processing and auditing is nearing completion. Current LD drilling programs of the FACL-JV were completed in January 2009. The completion of the LD drilling program in the FALC-JV is a major milestone in the evaluation of these large diamondiferous kimberlites. While the numerous kimberlites within the FALC-JV will require additional LD drilling further into the future, it is the present focus to evaluate the Star and Orion South Kimberlites to the point where a production decision can be made.
The diamond parcel recovered from the underground and LD sampling of Orion South will provide grade and price estimates for use in an NI 43-101 Mineral Resource estimate of the Orion South Kimberlite. Shore believes a preliminary Mineral Resource estimate from the data collected thus far can be determined for Orion South during 2009.
Buffalo Hills
Shore's share of 2008 expenditures on Buffalo Hills was $2.8 million, $0.7 million below budget, primarily due to a lower than budgeted level of drilling work performed during the year. In 2008, a drill program on the Buffalo Hills central corridor resulted in the completion of 41 PQ sized drill holes (6,818 metres versus total budget of 14,000 metres) on three kimberlite bodies (K14, K252 and K6). Contractor unavailability in the winter and difficult access conditions in the summer did not permit the completion of the planned 2008 program. Logging of drill core from this program resulted in the development of a preliminary three dimensional model for the K14 kimberlite. Processing of bulk sample material from K6 and K14 that was collected by the former operator was also completed in 2008. A total of 27.416 carats from 368.89 tonnes was recovered from both K6 and K14 material to give average grades of 7.0 cpht and 8.1 cpht respectively. However, further bulk sampling will need to be undertaken to gain a truely representative sample now that a geological model has been established for the K14 Kimberlite. The development of geological models for the K6 and K252 kimberlite bodies is underway.
Year to Date Results
For the year ended December 31, 2008, the Company recorded a net loss of $458.0 million or $2.48 per share compared to net income of $7.5 million, or $0.04 per share for 2007. The loss during 2008 was primarily due to the write-down of certain previously capitalized mineral property expenditures ($561.1 million), as well as the fair value of stock-based compensation that was expensed during the year ($2.7 million) and a further $2.9 million impairment in fair value of third-party asset-backed commercial paper ("ABCP") held by the Company that was recorded in the year. This was offset by future income tax recoveries related to this write-down. Net income of $7.5 million during 2007 was due to a $16.0 million future income tax recovery resulting primarily from the federal government substantively enacting a decrease in corporate income tax rates. This 2007 tax recovery was offset by the fair value of stock-based compensation expensed ($5.2 million) and a $2.0 million impairment in the fair value of ABCP held by the Company.
Is CMKX SCAMING the Shareholders ???
As far as I know we all have fradulent shares!
Maybe we need to make a statement, but HOW ???
What if thousands of shareholders sued Congress?
Do you think this would make the front page ?
As far as I know we all have fradulent shares.
The point would be to make a statement in front of the world to see. Maybe if we make it hurt they will listen.
Its like in Boxing you concentrate on a certain point and keep hitting your oponent in that same spot over and over and eventually it will HURT! It will HURT so much it will bring donw the biggest giant.
Any thoughts.
Any Advice from some of the Lawyers on this bb how we could go about doing this to really put shame on the USA Congress for allowing this to happen and for simply not caring about the state of thousands of shareholders and for failing to give the SEC the authority they need to prosecute, and to control the issuing of Certificates.
As far as I know a CERT can by anything and it is as worthless as the paper it is printed on as there are no security measure on it.
Where is Washington, they are busy fighting wars but what about the WAR inside their own country ?
Do we have a WAR inside the USA allowing fraud to go on for years and there is simply no one taking any responsibility.
Had there been certain Security measures implemented Billions of shares should have been caught in under 15 seconds.
IS the USA fighting an internal WAR ?
You ment we have a problem are you not a CMKX shareholder ?
The SEC confirmed that the 622 billion unregistered shares are part of the total of 703 billion issued and outstanding.
Would that not be a positive fact ? That means the legit shares out there is only 81 billion
But wait we still have NSS shares which are still unacounted for which Bill will be presenting in the near future.
So we infact have a problem because Bill claims there are Billions of NSS shares, or shares that have not been disclosed to the public. So what is the true count ?
You see the problem is that MM's have allowed for 622 billion of unregisted shares to get into the mix. The SEC has failed to catch Billions
" 662B unregistered point " missed that conversation
Can you elaborate on this and explain what its implying ?
We still have USCA shares, but was the distribution fair ?
Should we have received more ? If we can prove NSS took place who knows...
Form 10QSB for U S CANADIAN MINERALS INC
--------------------------------------------------------------------------------
26-Mar-2007
Quarterly Report
ITEM 2. MANAGEMENT'S PLAN OF OPERATION
FORWARD-LOOKING STATEMENTS
This Form 10-QSB includes "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included or incorporated by reference in this Form 10-QSB which address activities, events or developments which the Company expects or anticipates will or may occur in the future, including such things as future capital expenditures (including the amount and nature thereof); finding suitable merger or acquisition candidates; expansion and growth of the Company's business and operations; and other such matters are forward-looking statements. These statements are based on certain assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate under the circumstances. However, whether actual results or developments will conform with the Company's expectations and predictions is subject to a number of risks and uncertainties, including general economic, market and business conditions; the business opportunities (or lack thereof) that may be presented to and pursued by the Company; changes in laws or regulation; and other factors, most of which are beyond the control of the Company.
These forward-looking statements can be identified by the use of predictive, future-tense or forward-looking terminology, such as "believes," "anticipates," "expects," "estimates," "plans," "may," "will," or similar terms. These statements appear in a number of places in this Filing and include statements regarding the intent, belief or current expectations of the Company, and its directors or its officers with respect to, among other things: (i) trends affecting the Company's financial condition or results of operations for its limited history; (ii) the Company's business and growth strategies; and, (iii) the Company's financing plans. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Such factors that could adversely affect actual results and performance include, but are not limited to, the Company's limited operating history, potential fluctuations in quarterly operating results and expenses, government regulation, technological change and competition.
Consequently, all of the forward-looking statements made in this Form 10-QSB are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by the Company will be realized or, even if substantially realized, that they will have the expected consequence to or effects on the Company or its business or operations. The Company assumes no obligations to update any such forward-looking statements.
GENERAL DESCRIPTION OF BUSINESS
U.S. Canadian Minerals is headquartered in Las Vegas, Nevada. On its own and through Joint Ventures, the Company is looking to expand and develop mining properties throughout North and South America. The Company has the following projects, which are in varying stages of development.
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Table of Contents
Fort a La Corne
On January 20, 2004, the Company acquired from Nevada Minerals, Inc. a 20% interest in the mineral rights to 500,000 acres in Saskatchewan Canada near Fort a La Corne (the "fort a La Corne Property"). The Company issued 5,000,000 shares of its common stock to Nevada Minerals as consideration for such rights. Subsequently on July 18, 2004, Nevada Minerals conveyed an additional 20% interest in the mineral rights to the Fort a La Corne Property to the Company for 100,000 shares of Series A Preferred Stock, giving the Company an aggregate 40% of the mineral rights to the Fort a La Corne property. The mineral rights include the right to explore and exploit all minerals discovered in the Fort a La Corne property.
Lincoln County
The company acquired from Nevada Minerals, Inc. for nominal consideration, an option to purchase a mining operation and associated property located in Rachel, Lincoln county, Nevada, (the "Rachel Property") for an exercise price of $2,000,000. Nevada Minerals' title to the Rachel Property is the subject of litigation. Nevada Minerals acquired the Rachel Property in a foreclosure proceeding, and the person from which title to the Rachel Property was acquired in the foreclosure has filed a lawsuit against Nevada Minerals to have such title reinstated in it. While the company had initially formed an intention to exercise the option to acquire the Rachel Property, it no longer intends to do so because of its focus on its Ecuador projects described below and because it would have to spend $300,000 to build a processing facility on the property. The option does not expire until failure to exercise upon 10 days written notice of a bona fide offer to purchase the Rachel Property by a third property, however, and the Company may exercise the option to acquire the Rachel Property at any time that the Company concludes that it is in its best interest to do so. John Edgar Dhonau, who beneficially owns a majority of the Company's common stock owns all of and controls Nevada Minerals.
At the time the Company intended to exercise the option to acquire the Rachel Property, it entered into a land use agreement with Nevada Minerals that gave it the right to enter the property to begin building a processing facility.
Juina Mining Corporation
On March 23, 2004, the Company acquired 10 million shares of the Preferred Stock of Juina Mining Corporation, a Nevada corporation ("Juina"), in exchange for $116,000 in cash and a note in the principal amount of $84,000 (which note was subsequently paid in full). At the same time, the Company acquired 25 million, 5 million and 5 million shares of Juina common stock, respectively, from James D. McFadden, Mark Hutchison and Richard Taulli in exchange for 833,334 shares, 179,091 shares and 150,000 shares respectively, of the Company's common stock. Subsequently, the Company converted the preferred stock to 80 million shares of Juina common stock, giving the Company 77.1% of Juina's total outstanding common stock. At the time of this acquisition, there was an understanding between the Company and Mr. Hutchison that he would become a Director of the Company.
Juina owns 49% of a joint venture called Juina Mining Mineracao, Ltd. ("JMML"). The remaining 51% of JMML is owned by DIAGEM International Resources Corp., a Canadian corporation ("DIAGEM").
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Table of Contents
The sole asset of JMML is an 86% working interesting the mineral and mining rights to 2,471 acres of land in the District of Juina, Mato Grosso, Brazil ("Property 1000") as well as the equipment and processing facility appurtenant thereto.
At present, there are no operations being conducted by JMML because, among other considerations, the required permits have not been issued by the relevant governmental agencies. Permits for mining were never obtained and plans for mining have been abandoned. Moreover, JMML is controlled by Diagem, which has publicly disclosed that it considers JMML to be inactive.
JMML, however, has entered into a Joint Venture Agreement with Mineradora ECO with respect to a 49.80 hectare parcel in the western portion of Property 1000. As part of the Joint Venture Agreement, Mineradora CEO is entitled to 50% of all revenue generated by the sale of diamonds produced from this portion of Property 1000. In return, Mineradora ECO will undertake the task of securing land owner permissions and all government permits and licenses in order to commence operations and act as the operator on the 49.80 hectare parcel. To date Mineradora ECO has been unsuccessful in obtaining these permits and licenses, and there is no assurance that it will ever do so. This agreement was never fulfilled and the project was abandoned.
Durangoro
The Company owned a majority interest in Durango Oro, S.A., Compania Minera with offices located at Circunvalacion Norte, #511, Machala El Oro, Ecuador. Such offices are shared with Santa Fe Mining Company, S.A., an Ecuador company in which we own 80%. Sante Fe owns the mineral processing plant and land known as "Buza". In 2005, the Company did not have managerial control of Durango Oro. A mineral processing plant, known as Durango I, was operated by Durango Oro in Ecuador. In 2005, the Company acquired another mineral processing plant known as Durango II. The Durango I was operational at the time on-site auditing field work was completed in Ecuador in May, 2006. At September 30, 2005, these processing plants were wholly owned, but not controlled, by the Company, and are investments rather than subsidiaries.
Yellow River Mining
On March 22, 2004, Juina Mining issued 5,000,000 of its restricted common shares to acquire 80% of the issued and outstanding shares of Yellow River Mining S.A., which owned processing plants in the Provincia Del Oro (Province of Gold) in southwest Ecuador. Yellow River is an active mine with unproven reserves and has not produced significant amounts of revenue. Under the terms of the agreement, Yellow River S.A. is to receive 50% of the gold it extracts at its plants. The other 20% of Yellow River Mining S.A. is owned by an individual who is an Ecuadorian resident, from whom the company acquired its 80% interest. The Company anticipated using proceeds from subsequent offerings to construct and improve mining facilities at Yellow River.
CMKM Diamonds, Inc. owned a producing mine shaft near one of the Yellow River processing plants. The company has an agreement with CMKM Diamonds pursuant to which CMKM Diamonds must use that processing plant to extract the gold ore from that mine except for the extent the production of such ore exceeds the processing plants capacity. CMKM Diamonds was to pay Nevada Minerals a fee equal to 20% of its revenues from that mine. The Yellow River Mining Co. processed ore from the American Shaft in 2004 and 2005.
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Table of Contents
In April 2005, the Company entered into an agreement to sell its interest in the Yellow River Mining Company, S.A. The Company closed on its sale of its 80% interest in Yellow River Mining Company., S.A., an Ecuador corporation. Such property was previously owned by Juina Mining Corporation, in which the Company owned a majority interest. The cost basis of the Company's interest in the Yellow River Mining Company, S.A. is $151,000. Nevada Minerals, a related party and controlling shareholder, paid the Company $800,000, which included the assumption of debt owed by the Company to the buyer. In addition, the Company (through the Durango Oro, S.A. company) retained the processing plant and land located at Durango I. At closing, Nevada Minerals Inc. paid various obligations of Yellow River Mining Company, including bank fees, unpaid salaries and bonuses to its Ecuadorian employees and managers, and financial obligations for processing plant equipment. The Company received no net proceeds from the sale of such property and the Company no longer has any financial interest in the Yellow River Mining Company, S.A. By September 2005, the Company began operations of the Durango I processing plant and incurred its own costs associated with such operations. At that time, the buyer of its extracted gold and tailings containing gold and other minerals was the Yellow River Mining Company, which continued to process the tailings in order to extract the remaining minerals. By 2006 the Durango I processing plant was selling its gold, tailings and other minerals to other individuals and companies.
COD Mine
On May 11, 2004, the Company entered into a joint venture agreement with El Capitan Precious Metals, Inc. to acquire an 80% ownership of mining claims located in Arizona. The Company was required to contribute 720,000 shares of its common stock to acquire the mining rights. The joint venture agreement entitled the Company to receive 50% of the anticipated profits from tailings and settlement ponds and gave the Company the obligation to provide operating capital for the first 90 days of operation. After this period, the joint venture partner (operator) bore the risk of excess losses and liability.
The reserves for which the Company obtained mineral rights through the El Capitan joint venture agreement were "proven or probable" that is, the Company had been provided an outside commercial appraisal of the estimated value of the property "as is" for $5,000,000. The estimated reserves at March 2001 were estimated to yield ground values of approximately $138,000,000 and eventual recovery of $120,000,000 in revenues. These estimates were based on gold (22% of total values), silver (28.4%), lead (15.5%), zinc(25%), as well as copper (4.0%) prices at February 27, 2001. The reserves are purported to have not been depleted since the date of the appraisal. No minerals were produced during the nine months ended September 30, 2005.
CMKM Diamonds, Inc.
On July 18, 2004, the Company agreed to purchase a 5% interest in all current and future claim holdings and mineral interests of CMKM Diamonds, Inc. in exchange for 7,500,000 shares of the Company's common stock. The company also executed an option agreement to purchase up to an additional 10% of CMKM Diamonds, Inc. at a price of $1,500,000 for each 1% purchased. The Company had one year from the date of the agreement to execute all or part of the option in minimum 1% increments.
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On July 18, 2004, the Company acquired 5% of all mineral holdings of CMKM Diamonds, Inc. ("CMKM") for 7,500,000 (22,500,000 post-split) shares of common stock of the Company. On the same date, the Company acquired an option to purchase an additional 10% of such mineral holdings. The exercise price of this option was $15,000,000. On July 27, 2004, the Company made its initial exercise pursuant to this option in the amount of $3,000,000 which is equivalent to an additional 2% of such mineral holdings.
On September 9, 2004, the Company exercised an additional portion of the option agreement with CMKM in the amount of 1.66% for $2,5000,000. On September 9, 2004 the Company exercised an additional portion of the option agreement with CMKM in the amount of 5.33% for $8,000,000.
Most of CMKM Diamonds, Inc.'s holdings are in Saskatchewan, Canada in the general vicinity of the Company's Fort a La Corne and Smeaton holdings.
Nevada Minerals
On July 19, 2004, the Company entered into an agreement with Nevada Minerals, a related party and affiliate of the Company, to purchase an additional 20% interest in 500,000 acres of Canadian property, which was subject to a joint venture between two entities. The property is located in Fort a La Corne, Saskatchewan, Canada (see above). The company acquired such interest for 100,000 preferred shares (pre forward 3:1 split). The interest purchased current and future mineral rights but did not include any real property interests. In 2005, an independent appraiser had valued the total mineral rights associated with the 500,000 acres at approximately $12,000,000. Subsequently management has determined that these mineral rights were impaired, and that the interest should be valued based on the cost basis of the acquisition of such property rights by Nevada Minerals, which was $127,000.
Juina Mining
On July 28, 2004, the Company entered into an asset purchase agreement with Juina Mining Corporation to purchase its entire investment in Yellow River Mining, SA in exchange for 50,000 shares of the Company's common stock. During the period July 28, 2004 through 2005, the Company commenced construction of the processing plant and facilities located at the Yellow River site. The Company made a significant investment in such construction. Subsequently, the Yellow River Mining Company, S.A. was transferred to our company. We held a majority interest in this investment but did not control this investment. It was later sold to Nevada Minerals, a related party and affiliate, for $800,000, as discussed previously. At December 31, 2004 and 2005, the value of our remaining interest in Juina is reported by management at cost of $151,000. At the date of our disposition of our interest in Juina is reported by management at cost of $151,000. At the date of our disposition of our interest in Juina in September 2006, the value of our interest in Juina is recorded at the lesser of cost or fair market value and is $151,000.
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Langley Park Investment Trust
The Company also entered into a stock purchase agreement to sell 1,714,000 shares of common stock to an unrelated party at the average per share price of the closing bid of the Company's common stock for the 10 trading days immediately preceding July 30, 2004. The acquiring entity was to use its shares as consideration for the purchase. On August 8, 2004 the company issued 1,714,000 shares to Langley Park Investment Trust (LPIT) in exchange for shares of Langley Park Investment Trust. Langley Park Investment Trust is a mutual fund traded on the London AIM exchange investing primarily in microcap mining stocks. The Company received 4,958,896 shares of LPIT in exchange for 1,714,000 shares of company stock. On March 29, 2005, the Company sold 2,231,503 shares of its investment in Langley Park PLC and the amount of proceeds received by the Company on April 1, 2005, net of sales commissions, was $581,228. In 2005 the Company sold a total of 2,479,448 shares leaving 2,479,448 shares of LPIT in escrow upon which LPIT held a call option exercisable at 1 pence per share if the company's stock decreased in value by an agreed upon percentage. Due to the precipitous decline of the value of the company's stock in 2005, this option became exercisable in October, 2006. LPIT called the stock at 1 pence per share as per the 2004 acquisition agreement.
North Star Diamonds, Inc.
On August 30, 2005, the Company entered into a material agreement to acquire a royalty interest by issuing restricted stock to North Star Diamonds, Inc. for a joint drilling program.
MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS
The Company has a limited operating history upon which an evaluation of the Company, its current business and its prospects can be based. The Company's prospects must be considered in light of the risks, uncertainties, expenses and difficulties frequently encountered by companies in their early stages of development. Such risks include inadequate funding the company's inability to anticipate and adapt to a developing market, the failure of the company's infrastructure, changes in laws that adversely affect the company's business, the ability of the Company to manage its operations, including the amount and timing of capital expenditures and other costs relating to the expansion of the company's operations, the introduction and development of different or more extensive communities by direct and indirect competitors of the Company, including those with greater financial, technical and marketing resources, the inability of the Company to attract, retain and motivate qualified personnel and general economic conditions.
The Company expects that its operating expenses will increase significantly, especially as it implements its business plan. To the extent that increases in its operating expenses precede or are not followed by commensurate increases in revenues, or that the Company is unable to adjust operating expense levels accordingly, the Company's business, results of operations and financial condition would be materially and adversely affected. There can be no assurances that the Company can achieve or sustain profitability or that the Company's operating losses will not increase in the future.
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RESULTS OF OPERATIONS
The Company has achieved no significant revenue or profits to date, and the Company anticipates that it will continue to incur net losses for the foreseeable future. The Company incurred a net loss of approximately $ 675,055 for the nine months ended September 30, 2005, compared with a net loss of $3,616,447 for the nine months ended September 30, 2004.
The Company's 2005 activities were financed primarily through sales of restricted common stock.
LIQUIDITY AND CAPITAL RESOURCES
Since its inception the Company has had limited operating capital, and has relied heavily on debt and equity financing.
The financial statements as of and for the period ended on December 31, 2004 expressed their substantial doubt as to the Company's ability to continue as a going concern. Without additional capital, it is unlikely that the Company can continue as a going concern. The Company plans to raise operating capital via debt and equity offerings. However, there are no assurances that such offerings will be successful or sufficient to fund the operations of the Company. In the event the offerings are insufficient, the Company has not formulated a plan to continue as a going concern. Moreover, if such offerings are successful, they may result in substantial dilution to the existing shareholders.
Stupidity is having darthium for a name now back to CMKX...
What ever happened to ...
Yellow River mining in Equador.
As RW described it, USCA's role was to process ore...and the
operation was generating revenue. Apparently Yellow River is owned 100% by USCA; CMKX owns the shafts and claims, USCA processes the ore and is responsible for selling the minerals. CMKX gets 50% of the haul. Most of the revenues generated to date have been put back into the mine operations. Processed approx $90-120K (gross) in 2004, 50% of which was paid to CMKX. RW receives weekly reports from So. America.
???
Thats nothing compared to what CMKX will be worth one day.
Hold on to every share you have and you will become a Millionaire! Its only a matter of time. :)
Cats should fear rats, as rats have a jaw strength of 2Tons.
If a rat wanted to it could easily chew a cat apart in its sleep! lol
Maybe he'll surprise us all and call in! lol
Did you guys see this new venture ?
http://www.petroavec.com/
It looks promising :)
I figured it was a hoax but just didn't have the time to read through all the posts.
You guys...
Where is UC, he should get on one of the radio shows like in April and tell us what is really going on. He should call in from his cell phone so no one would know where he is and give us some facts about what really went on.
UC needs to do the right thing and come forth with the facts.
NSDM-forever your full of it!!!!!!!!!!!!!!!!!!!!
Stop spreading misinformation please.
I've confirmed this with someone I know at CMKX and your article is BULL!
Are you getting a kick out of posting CRAP ???
I'd be careful about revealing who you really are, some of us are not too keen on provind misinformation.
Here is the real article:
LAS VEGAS--(BUSINESS WIRE)--Oct. 30, 2003--Casavant Mining Kimberlite International (Pink Sheets: CMKM - News) regrets to inform its shareholders that the company's exploration efforts in Fort a la Corne have been temporarily set back in their schedule for electro magnetic surveying and the drilling which was to commence late last week. The delay is from unexpected magnetic storms caused by "sunspots" or explosions on the sun, as reported by numerous sources recently on the news and Internet. Scientists observed the biggest explosion in 30 years on Tuesday, which produced a particle cloud 13 times larger than Earth and hurtled through the solar system at more than 1 million miles per hour. The geomagnetic storm is expected to disrupt communication satellites, television transmissions, GPS navigation and possibly the flow of electricity in some areas.
The company made a decision to suspend the electro magnetic surveying necessary after receiving notification from Durama Enterprises Limited that space weather forecasters warned of the possibility of a solar storm last week. The exploration contractor was completing GPS navigation and the last of a series of surveys, prior to drilling the sites already chosen for core sampling, before the interruption. The delay was necessary for the company given the circumstances to achieve the best possible results without interference or faulty readings. The pause in field work will give the exploration contractor time to compile and analyze data gathered, to date, and plan additional magnetic surveys to be done. When a more definitive timeline has been established, it will be announced.
Casavant Mining Kimberlite International has retained an additional independent geophysical consulting firm to assist in data analysis and interpretation. This firm has many years of experience in diamond exploration in Saskatchewan.
There is no guarantee that drilling or further exploration will produce any economic benefit to the company or the shareholders of the company.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: The statements, other than the statements of historical facts, contained in this release, which are not historical facts, may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the company to generate cash flow from operations and the ability of the company to manage its operations.
Actually there is a lot more to this and I'll provide you all the details I remember. Every word I say is 100% true.
You said "Because it isn't true, obviously. And what does Diagem have to do with CMKX? Nothing."
Diagem was a company that found some of the biggest diamonds in the entire world, these diamonds were found near the sureface on SAND but on Sacret land. Due to the location of these diamonds it was in fact illegal to mine the diamonds even though you could easily extract them without too much effort. The work around was using the locals to obtain the diamonds as workers, however this at some point led to bloodshed as people rebelled. The local government even after what took place agreed to continue this practice as long as they were getting their share and as long as no machinery was used.
So what significat role thid CMKX play in this ?
CMKX bought a total of 25% ownership in Juina Mining of which: Diagem was 49% owned by Juina Mining.
Properly 1000 (Brazil Diamond mine - Diagem)
So why would CMKX just give up on something so valuable?
What ever happened to our Gold mine, this was a profitable mine with a lot of gold why would CMKX let it just lapse ?
CMKX had a 80% Yellow River mine ownership - Gold
We all saw the pictures and how they kept updating how prowd their progress was on excavating the GOLD!
They even talked about their progress and how the local government protected the CMKX workers with guards that had guns. You said that "CMKX failed to pay its part, and turned over the claims to USCA. They were pretty much worthless anyway."
Why in the world would CMKX just fail to pay it part for a profitable Gold mine. There was a lot of Gold I remeber looking at the data myself. Did someone sell it privately under the table, what did really happen ?
Why has no one gone after CIM, they owe us money ?
You said "CIM no longer exists, and was never anything but a name. "
Let me remind everyone something we were to be paid Royalty 10% Royalty by CIM - Casavant International Mining - Royalty(Zinc)
I know for a fact that Zinc was found on that land, which was illegaly sold to someone else yet our percentage was never paid. What this means is that the new owners of this Zinc deposit owe us money or the orinal owners do. It was a local for I can't recall millions and they were to pay that back.
Its been a while but I'm sure if you google it you'll find that this is correct.
So one company after another, after another someone has been doing these deals with companies that I know for a fact had the goods yet letting them lapse why ???????
Why would someone let companies were worth lots of money simply lapse or be bought out by other groups ?
Since we're on this topic how could the SEC allow for the shareholders not to receive their USCA shares for such a long time ?????? Why is the SEC not cleaning up this mess???
I don't understand how can they take to don't we have some right interms of receiving our USCA shares, they should be stepping in and distributing our shares.
Ohhh but wait maybe they have a problem there are too many of us, so who get how much ???
The Stock market is a mess and unless someone steps to assist the SEC in taking quick action to control the situation its going to become a JOKE to invest.
How many of you want your USCA shares ????
Why wouldn't you ???
But wait are you sure you're getting your fair share of these Shares ??? I'm not sure I want 1/10000000000 of a distribution based on NSS CMKX shares.
I want whats my do you want a fraction of the shares ?
What is the SEC to do ?
Solution is simple have the government provide CMKX bail out money hey if the banks can get Billions why can't we ???
I'm not kidding CMKX shareholders should be asking for bailout money, a miscalulation in lending money by banks is not that much different then a miscalulation of the MM's provinding us with too many shares.
If we can prove this in the court CMKX will be the first company ever to request a bailout. No wonder we weren't allowed to introduce new evidence in the first trial proving that the number of shares that were provided to us was incorrect.
Naked-short selling, which involves selling stock short but not borrowing the shares to cover the position, has come under growing scrutiny in recent years. The practice is illegal if it is used to manipulate the market, which critics say it typically is.
So they aren't sure if illegal NSS is like robbing a bank ?
Tell you what let me make it easy give me a $50 bill and I'll give you a fake $100 bill Its not illegal if you pretend its real money lol
No are you sure its legal Sure it 100% legit the hand is quicker then the eye!!!!!!!
To tell you the truth I'm not sure who to believe any longer.
Until we have something concrete from the court that's the information I will rely on.
Entourage just did a split again, so all of our shares are rather worthless since they have been doing that for so long, although I believe we should get a percentage of the companies shares at the current time as we have been unable to get our shares for such a long time.
There are rumours out there from a rather good source of my that all of our Certificates are not legitimate(they were just given to us to give them time to figure out what to do with all of us), and that we were drilling for diamonds. Also that some people died while working for Diagem.
If this is true why is the company denying everything ?
What are they covering up and why are they not keeping us informed on anything including the trial that just took place?
What ever happened to our Gold mine, this was a profitable mine with a lot of gold why would CMKX let it just lapse ?
Why has no one gone after CIM, they owe us money ?
Nothing makes any logic with what is really going on!
Again more questions then answers...
I'll keep digging and see what I can find out.
Looks like CMKX is not done yet ?
Almost like a male dog :)
sorry couldn't help it lol
Actually Illegal NSS is going to scrw a company Janice.
Why do you think it won't ?
Owning a company 10 times over is a good thing ?
How about 100 times over ? 1000 times ?
Lets say the company is worth $10
you buy 100% of the shares which is not likely but lets just agree on that for this example. Hence you own $10
No if you were to buy it 1000 times you would own $0.01
Would you like to own $0.01 or $10 its a no brainer
So Illegal NSS is good ???????????????????????????
maybe if you're smoking somthing or eating those special brownie cookies :)
Look no more for Willy, just keep your eyes on this...
http://www.cmkm.info/
Huge news is on the way!!!!!!!!!!!!!!!!!!
Most of it is very POSITIVE!
It will all start at the beginning of April but won't be posted till May 2009 :)
CMKX To DA MOON
AIG is a perfect example why there should be no bailout money.
Money to pay off the LARD who put the company in the current state nice!!!
Hey great job, maybe they should include a BENZ for each one of them too :) ha ha ha
Lets really reward them and include a Vacation all inclusive and why not let be generous and give them 3 month of vacation time.
What is going on doesn't the government ensure that the money that is give is used properly and the any LARD money is cut out till things start moving again.
Unless listen up Unless the company knows they're going to hell soon anyhow so why not
suck some money while they still can.
They must know AIG is going down so they are getting their money's worth. I certainly hope people smart about any stocks they bought attached to AIG.
Just goes to show you giving money to a lost cause is a waste of resources. Maybe all these companies are so corrupted that giving them money is only going to promote more greed.
Guys get it right give them money only if they freeze any and all packages and if they break the rule put their azz in jail for defrauding the government.
I wonder why ? Because its where anyone and everyone hides their dirty money especially Government officials.