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frankie_fillet
I was curious since I have to go to that area in the next couple of weeks to visit another company. I thought maybe a vist in person could result in some additional info.
TIA
trade15
frankie_fillet
When was the last time anyone actually talked to the CEO ?
trade15
rabblerouser
Sent you a private message with some info.
trade15
rabblerouser
People that I deal with out there mentioned that they had heard Urbie was going to get a run for his money. The speculation was that it was the same group that Urbie had tried to pacify with additional shares during the period when CMKM was on a fall to $.0001. It wouldn't surprise me if the woman that broke up the CMKX Las Vegas party wasn't involved.
trade15
uber darthium
Are you located in Canada or the US ? If you're in Canada you may want to look into a group from Alberta who are suppose to be going after him. I don't know the details yet , but I suspect that it could be people associated with a certain bus company there.
trade15
puppydotcom
Have you ever met Urbie in person ? I first met him during the Petro Plus days when he associated with Dale Hoffman at times. I'm probably one of the few who made a profit with PPV.a due to knowing Urbie's limitations . He's a typical used car salesman type who can talk fast, but has little knowledge of the business that he's in. I never said that he was innocent or not involved with questionable practices. What I stated was that the period when CMKM Diamonds Inc traded as CMKM there were several groups of crooks involved who milked it for all it was worth due to Urbie being a clueless dolt. I will tell you this , there is a difference in the shares purchased during the CMKM days and shares purchased later during the CMKX period. I know since I requested a cert for the 5 % of shares that I held after taking my profits at $ .001. My brokerages sent me seperate certs for shares bought under the CMKM symbol and the shares purchased later under the CMKX symbol. No advantage to the brokerages to do that since I paid no fee for the certs.
trade15
Gump
If you really want to know what went on with CMKX and how many groups of crooks were involved . Then you would have to look at the period of time that CMKM DIAMONDS INC traded under the symbol CMKM . That's when all the hanky panky went on and the first two groups of crooks played their games. I suspect that unaccounted for shares entered the market at that time and may have never been covered. They knew that Urban was clueless when it came to management of the company and milked it for all it was worth. This (davidjmar) on Paltalk has me curious about his story about alerting Urban to what Edwards and crew were doing in the closet.
trade15
pennypauly
You should read the book " The Little Black Book 0f MicroCap Investing " by Dan Holtzclaw. ( ISBN 978-0-9674758-2-1 ) Especially the interview of Cromwell Coulson, CEO of the Pink Sheets and what he believes is the biggest problem facing Pink Sheet stocks. Which he states " guys with restricted stock from private placements or company insiders who sell restricted stock but they can't deliver the shares because of the restrictions "
trade15
Who pays the touts and scammers for their dirty deeds of relieving the innocent of their hard earned dollars ?
trade15
Who are the touts and scammers who ply their trade on the internet discussion forums ?
trade15
Soon begins the sordid tales of the Gumshoe Chronicles.
trade15
pantherj
Does anyone remember from Helen Bagely's testimony if she was questioned about her relationship to John Edwards ? I see a rumor has surfaced that I heard over a year ago about Edward's business concerns listing the same address as Bagely's home residence.
trade15
massconfusion
Thanks for the information.
trade15
janice
This message from another forum is priceless. Looks like the DOM could be branching out.
" Posted by: HUSTLA
In reply to: fugeguy who wrote msg# 38171 Date:1/4/2007 1:53:59 PM
Post #of 38183
First Happy NEw Year to you too.
Second, dan told me a year ago, maybe more, he was working on a several million dollar acquisition and we would hear about it.
Word is, there was just a small setback that occured last minute in the negotiation with MMI mgmt. and it should be worked out.
I have fiath, afterall, we are "intent" on purchasing them and the things we could do with Oc-48....Hmmm
Let me just imply this, and its just a for say, situation.
Sandy from BKMP wants a US carrier, hmmmmm.....
Wasn't dan recently seen at a MMa fight with Sandy CEo of BKMP?
I can recall a recent such rumour....
Look at BKMP's stock, was .009, now .0002X.0003....Hmmmmmm
A lot of coincidences and possibilities.
Dan is not dumb, I can say that with confidence.
What are we waiting for this long for????
Im sure we will find out."
trade15
Did Frizzy receive a response from TD Waterhouse Canada ? I'd be curious to know what their response was. By the way, almost all Canadian brokerages will not allow US penny stock paper certificates to be deposited back into a customers account.
trade15
Are you talking about TD Waterhouse Canada ?
trade15
HndtoHnd
" Trade15, your right. I have no idea how to DD."
Well I'll certainly agree with your first statement. Go to the Sask Sec website and do a search for Urbie for the answer to your question.
trade15
HndtoHnd
You should do a little more research there sparky. The Sask. Sec Comm has already taken action for the mentioned un-registered stock.
trade15
hasher5
Actually the Canadian shareholders who were sold un-registered stock could really have a good case against Urban . Urban is very vulnerable here in Canada in regards to potential litigation.
trade15
uber darthium
I think it's too close to call. Seems to me that all the mods over there are neck to neck for the prize.
trade15
" Gosh and Royalstarofthelion are most likely the two all time dumbest admins ever to be on Paltalk.
Gosh's voice blows my tweeters "
uber darthium
Does anyone know if the woman who broke up the CMKX Las Vegas party worked for a bus company in Alberta ?
trade15
TSX
You should take a look at those CMKX Paltalk rooms. I've never seen such simple posters as that Tuscansun , Gosh , Royalstarofthelion and the number one winner Tigerpaw. I wonder how many of them are paid to be on there to keep the shareholders from looking for answers.
trade15
Gump
This Ebay auction below is priceless.
THE
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AND
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SYSTEM
Attention CMKX
Shareholders
REGULAR PRICE $1695.00
SUPER SALE $395.00
>> ONLY 1 AVAILABLE <<
Learn how to become 100% lawsuit and creditor-proof
with the best asset protection system available today
http://cgi.ebay.ca/The-VERY-BEST-ASSET-PROTECTION-FINANCIAL-SYSTEM-CMKX_W0QQitemZ290056255517QQihZ01...
trade15
Gump
I do get it , and have experienced several short squeezes in the past. I've even gone through one were the stock was halted on fluff and a certain reporter raked it over the coals here in Canada . But your stance on CMKX puzzles me since so far I can't find anything that gives substance to the claim. Walker told me back in early 2004 that Urbie had told him that his stock had been shorted but nothing more came of it. I know Urbie's reputation well and first met him in 1996 through Dale Hoffman. At best he's a used car salesman type , who can talk a mile a minute but not much more. I was just curious why you had placed your bet on CMKX since you know exactly the type who ran the company.
Duane
Gump
I've been amazed how long you have remained on the CMKX naked short bandwagon. Especially when one considers how long you've been involved with the markets during your career in the exploration field . Have you come across information through your son or other Sask. sources in regard to CMKX that has you so convinced that CMKX was naked shorted ?
trade15
TSX
As I mentioned in the private message the number of trades is one of my major problems. I can't risk losing the Capital Gains option if I didn't go the RRSP avenue.
Do you know who the Sask. Enviroment rep is for Green lkae at this time ? Is it still Randy Slater ?
Duane
Hello TSX
I should have mentioned that I have CDN juniors in both RRSP and regular brokerage accounts. But I do hold over 100 CDN juniors in RRSP accounts which were all purchased as shells which had consolidated and were waiting for insiders to vend in a property. My method is similiar to what the Pennygold program was promoting. You buy after a shell has consolidated and the price has declined to levels were insiders are doing their private placements and options. In the last few years I have had some big gainers such as ARU which was purchased way below a dollar. Did you ever read the book " Mining The Market " by I believe Morriss Bubbiss ? I never have a capital loss since I'm patient enough to wait out the insiders.
Duane
Kolt Curry does exist. I got a description from the suite front desk. Even the accountant in the front office had only seen him a few times.
trade15
I was just having some fun . I met him at the Younge street address earlier this year. Took a few attempts , but I finally timed it right. But I never did catch the illusive Kolt Curry after many attempts.
" That's Larry The Hat. Jim Bishop knows a good deal about him. "
trade15
Janice
Here in Canada , self-directed RRSP's are a perfect place to put the long shots . I only put Canadian juniors in my RRSP's. Beats the sure thing people were doing when they got hammered with their Nortel holdings.
" Tons of people have IRAs. I'm merely saying that the point of them is that you're not supposed to touch what's in them until you retire. So it's not a good idea to put stock you plan to sell when it goes TO THE MOON in an IRA. "
trade15
hasher5
I seem to remember the name ( Lawrence (Larry) Skolnik ) from the Toronto area.
trade15
Interesting
http://www.stockwatch.com/swnet/newsit/newsit_newsit.aspx?bid=B-613941-C:SUV&symbol=SUV&news...
2006-10-31 19:11 ET - News Release
Also News Release (C-GBN) Golden Band Resources Inc
Mr. Rick Walker reports
Star Uranium Corp. has signed a letter of intent with Golden Band Resources Inc. whereby the company is selling its 50-per-cent interest in three mineral claims in the Dickens Lake area of northern Saskatchewan to Golden Band. The company will receive $20,000 and 150,000 shares of Golden Band as payment and will retain a 1-per-cent net smelter return royalty in the properties. Golden Band will have the right to reduce the royalty to 0.5 per cent by making a cash payment of $250,000 to Star Uranium
The company also reports that Ralph Newson of Saskatoon, PEng, PGeo, and the qualified person on Star's Smeaton, Sask., diamond property has received results from the Saskatchewan Research Council lab on samples submitted from two drill holes on the Carolyn kimberlite. Analysis of approximately 210.9 kilograms of split NQ core from holes C4 and C5 yielded six diamonds. The other half of the split core has been retained in a secure building.
Analysis was by total dissolution using caustic fusion, carried out by the Saskatchewan Research Council, which is certified under ISO 17025.
Sample A, representing core from 194.4 metres (m) to 207.9 m depth in hole C4, and having a mass of 27.8 kg, yielded one diamond retained on the 150-micron screen, two diamonds on the 106-micron screen and one diamond on the 75-micron screen. Sample A was a light-grey-coloured, fine-grained calcitic kimberlite.
Sample D, representing the interval from 169.4 m to 193.8 m in hole C5, and having a mass of 47.25 kg, yielded one diamond on the 212-micron screen. Sample E, representing the interval from 147.7 m to 169.4 m in the same hole, and with a mass of 43.1 kg, yielded one diamond on the 106-micron screen. Samples D and E were both fine- to medium-grained lappilli tuffs, with sample E having more of the medium-grained-sized lappilli.
Hole C5 is about 47 m north of hole C4. Hole C4 is about 34 m west of hole C1 and hole C5 is about 29 m west of hole C2, both previously reported in a news release in Stockwatch dated June 15, 2004. A total sample weight of approximately 386 kg from holes C1 and C2 returned two diamonds on the 106-micron screen. Hole C3, drilled about 48 m east of hole C1, failed to intersect the Carolyn kimberlite. Further exploration in this area is planned for early 2007.
TSX
From what I heard , Koch was bank rolling him at that time. One of the reasons that Koch controlled the Sask. numbered companies. Plus Urban having major tax problems with the Tax people which most likely prevented him from holding any assets.
trade15
You're talking about a much later period in the CMKX story. I talked to some of the Sask. players early on and know exactly what the state of Urban's funds were at that time. He was paying in dribbles and could barely come up with the money to pay for the options for some of the claims.
All I know is that there's a lot more to the story. I may finally find out the truth about the jade collection and it's origin which, I've always been curious about.
Janice
I played the stock the first time when it first came on as CMKI and made a little on the flip. But the drop after that was very unusual and the depth of the fall didn't add up. What was more puzzling was that I heard from reliable sources that Urban hadn't gained from the rise and barely had enough to keep the claims . Hence , the period of shares in the suitcase in Sask. or so the story goes.
Janice
Finally a post from Drillbit that I find somewhat interesting. It's long , but it does fit with some of the rumors that I've heard here in T.O about this whole sordid mess.
" By: DrillBit
27 Sep 2006, 06:04 PM EDT
Msg. 387962 of 388363
(This msg. is a reply to 387940 by bobbybdb011.)
Jump to msg. #
Bobby, long but please digest this:
rbitulsa
Can 12,000,000 shares make a difference?
« Thread Started on Jan 19, 2006, 2:51pm »
--------------------------------------------------------------------------------
Could 12,000,000 CMKI shares "awarded" between 1998 and 2001 have had a significant effect on what happened to CMKX in 2004?
It's possible...
(1) when they are deferred compensation stock awards,
(2) with a 5 to 10 year term execution term,
(3) protected by an anti-dilution clause,
(4) representing as much as 40% of the O/S at time of award, and
(5) when control is purposely hidden from future investors, officers, and business associates
I'll pose the following for discussion:
(1) There is enough evidence to look into the possibility that an individual or very small group took at least 40% control of CMKI in the very early stages of CMKI (if not from the very beginning), via the issuance of unregistered and deferred compensation stock grants (meaning the shares were awarded to the "holder", and considered part of the outstanding for reporting purposes, but the actual issuance was deferred), primarily through S-8 grants, where the individual or group had the option of when to elect the issuance of these shares.
(2) There is enough evidence to look into the possibility that the "holders" of these shares used multiple trusts and front companies, each holding a small percentage of the controlling person(s) total ownership, as a means of (a) evading the beneficial ownership reporting requirements, and (b) hiding the control from those who chose to do future business with the company (including investors).
(3) There is enough evidence to look into the possibility that this ~40% (or more) “unissued” control of the corporation sat dormant, and hidden, sometimes as long as SIX YEARS, until it was strategically used, beginning sometime in 2003 and ending sometime in 2004.
To clarify, I’m not arguing that this person or group controlled no more than 40% of the corporation, but that some portion of their ownership/control was gained between 1998 and 2001 (prior to the FALC merger) using deferred stock protected by an anti-dilution clause. Any shares they received or purchased through other means (or using similar means after 2001) would increase their majority ownership, quite possibly above 50%.
Let’s look at some historical information:
CMKI reported 30,561,038 shares outstanding as of June 13, 2001 (per their DEF 14A).
If you look at the Master Shareholder list, it shows that only 16,555,109 shares were issued as of June 13th, 2001.
So the total reported shares outstanding exceeds the total reported issued by about 14,000,000 shares on 6/13/01.
It is possible that the 1998, 2000, and 2001 S-8’s reconcile the difference. These 3 Equity Plans registered a combined total of approximately 14,000,000 shares, which could be used (in general) to issue either employee stock-options, or deferred compensation grants to others. It appears these 14,000,000 shares were shown as "outstanding" only for reporting purposes, but were not "issued" at the time, only "awarded" under the S-8's. The filings indicate that Samual Singal, then the President of CMKI (an employee) was issued 2,000,000 shares (pre-split) under the plan. But 100% of these shares were executed by Singal in August of ‘01, and the master shareholder list accounts for all issuances of shares to Singal, as reported in CMKI’s filing.
This leaves 12,000,000 S-8 shares, at least ~98% of which were awarded to non-employees, and subject to the deferred compensation stock and anti-dilution provisions.
Why is this worth looking into? It is worth considering because of the possibility that these 12 million shares, when considered together, represented and un-dilutable right to 40% control in the O/S, whenever the owner(s) chose to execute the issuance of the shares, and irrespective of what the issued was at that time.
« Last Edit: Jan 19, 2006, 4:18pm by rbitulsa »
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eshille
Diamond Finder and Miner
member is offline
happi dancers
Joined: Aug 2006
Posts: 2,083
Re: rbitulsa
« Reply #1 on Yesterday at 9:56pm »
--------------------------------------------------------------------------------
con't:
We don’t have to look further than Tinto Inc. and Duval Inc. to see the damaging effects of such hidden and anti-dilutive stock awards.
(A) Review the initial SEC filing for CMKI (the 10SB-12G filed on 8/3/1999, when CMKI was a holding company for CM300 showing:
Name of Beneficial Owner Owned Outstanding
- - --------------------------- ------------ -----------
Samuel Singal. . . . . . . . . . . . . . . 4,130,000(1) 67.7%
Chancery Corporate Services. . . . . . . . 1,000,000(2) 16.4%
(2) The address for Chancery Corporate Services ("CCS") is Nassau, Bahamas. CCS is the corporate trustee with full voting and dispositive authority for the trusts which own Tinto Inc. and Dungavel Inc. Each of Tinto Inc. and Dungavel Inc. own 500,000 shares of Common Stock.
(B) Compare against the master shareholder list in the relevant period – no record of any issuance to Tinto or Dungavel during that time period.
(C) Review this excerpt from the DEF14A on 6/23/2000: "Section 16(a) Beneficial Ownership Reporting Compliance…” the Company believes that, during the fiscal year ended December 31, 1999, the filing requirements applicable to its executive officers, directors and ten percent shareholders were not fulfilled or not fulfilled on a timely basis."
(D) After this filing, there is never a mention again of Chancery, Tinto, or Dungavel –
(E) 3-1/2 years later in January of 2004, almost 6 years after the incorporation of CMKI, and long after the death of CM300 and the exodus of Samuel Singal, long after the transfer of the corporation to Jarvis, and from Jarvis back to “The Vegas Group”, Tinto, Inc. and Dungavel (aka “Duval Inc.”) make their stealth re-appearance on the CMKX T/A list. Tinto & Duval’s combined shares move from 1,000,000 shares (granted) in ‘99, to zero shares (reported) in 2000, to 35 Billion shares (issued) in January 2004 (note: equal to about 16% of the O/S at the end of January), to zero shares (held in cert) by June of 2004 (Interestingly, both Tinto and Duval surrendered the last of their shares on the day Edwards and Angel was named as our counsel).
(6) The question remains, were there possibly 12,000,000 other shares out there with the same type of destructive ability to collectively affect a increase in the O/S by as much as 40%, and at the holder’s time of choosing? Were these agreements properly disclosed? The 34,999,000,000 gain in shares by Tinto Inc., and Duval Inc. represents just 2 of more than 80 such “front companies” which can found on our master shareholder list in 2003 and 2004; some of which may have been granted (or transferred) similar deferred and anti-dilutive awards.
Other questions to ask are: Why would a dead-in-the-water company (CM300) incorporate in the U.S., register its shares, and issue a controlling interest through deferred compensation anti-dilutable shares? What is the benefit to be gained?
I would suggest that we consider the possibility that Singal’s CM300 Corp was financed by a group from Vegas going as far back as 1996.
I would suggest that in 1998, when it was evident that CM300 (a “computer gaming company” based in Toronto) was failing, with inadequate assets available to cover the Vegas Group’s loans, these financiers concocted a plan to move CM300 into a U.S. shell, converted the CM300 loans into deferred shares with anti-dilution protection, moved Singal and the CM300's remaining assets out the door, and began the search for a “mark” to move into the shell.
I would suggest that from 1998 through at least the end of 2003 (and possibly well into 2004), these same Vegas financiers maintained control of the CMKI/CMKX shell, via their past S-8 awards and other similarly dilutive and sometimes-hidden financing arrangements.
I would suggest that the reason that a single preferred share was created and used to “transfer ownership” of the corporation from Singal to Jarvis, then back to the Vegas financiers, is because the use of a preferred share allowed the financiers to keep their deferred share awards hidden and intact.
We know with some level of certainty from past filings that Ian McIntyre was from Toronto and was “a consultant in the computer game industry” in the 90’s. We know that Ian McIntyre was the signatory on at least several of John Edward’s front companies. We know with some level of certainty that John Edwards controlled Tinto, Inc. and Duval Inc. And we know that Ian McIntyre was the sole officer and director for over a year following Jarvis’ “sale” of CMKI back to the Vegas financiers. We know with some level of certainty that Urban Casavant did not “buy” the CMKI shell. Rather, according to Jarvis (and other information), it was the Vegas group of CM300’s financiers who purchased CMKI back from Jarvis (after Jarvis figured out the shell was corrupt) in late 2001; CMKI was completely dormant for almost a year, before merging Urban’s FALC claims into the shell in late 2002. We know with some level of certainty (according to the DEF 14C) that the Vegas financiers had financed Urban’s acquisition of the FALC claims between March and September of 2001. We know that this same group forgave over $10,000,000 in financing, in exchange for 85.8% of the outstanding stock (over 96% of it newly issued) at the time of the issuance, in late 2002.
At the time of the merger between CMKI and the FALC claims, was UC made aware of the hidden, non-dilutable, deferred compensation stock awards from 1998 through 2001? We know that when Urban moved the FALC claims into the CMKI shell, the auditor, attorney(s), and CFO were all “provided” to him, and all of these critical people were affiliated with John Edwards. Aside from the 35 billion in deferred stock executed by Tinto and Duval in January of 2004, how many of the remaining shares issued in 2004 might have been issued based upon other hidden, anti-dilutive deferred stock agreements? Did you and I pay the Vegas’ group back for their failed loans to CM300? How much profit did they receive as a result of their deceit?
It was always interesting to me that the repurchase of shares from ’03 and ’04 were, in total, almost exactly equal to the number of post-split shares received by Urban’s lenders in the FALC merger. The appearance, at least, suggests Urban was attempting to buy the financiers out of CMKX, and possibly take the corporation private. Was Urban being deceived by his Chief Financial Officer and others about the true nature of Urban’s control in CMKX? Did Urban discover in early 2004 the real nature of his limited control of CMKX? It is my opinion that the Brian Dvorak letter to 1st Global in early 2004 suggests just that. It is my opinion that the “Dvorak letter” provides a pivot point in the CMKX timeline; a fight for control, perhaps.
Most of want desperately to know what went on in 2004 and 2005. And no one I know has figured it out yet. Never-the-less, if we are ever to truly understand what happened after Edwards and Angel came on board (for example), we must try to get a grasp on what happened in the past, and why. No one can truly know what happened behind the scenes from 1996 to 2004. And CMKI/CMKX isn’t known for it’s openness. Which leads us to search for information on our own, and make judgments about our findings, which is what I have done here, and offered up for further discussion. Corrections and diverging opinions are welcome.
Excerpts from CMKI’s 2001 S-8, and from the follow-up DEF 14A
"Holder" means a person who has received an award under the Plan.
"Nonqualified Stock Option" means any Stock Option that is not an Incentive Stock Option.
"Deferred Stock" means Common Stock to be received, under an award made pursuant to Section 8, below, at the end of a specified deferral period.
"Stock Appreciation Right" means the right to receive from the Company, on surrender of all or part of the related Stock Option, without a cash payment to the Company, a number of shares of Common Stock equal to the SAR Value divided by the Fair Market Value (on the exercise date).
Excerpts from CMKI 2001 Performance Equity Plan (S-8 Filing):
Common stock issuable…under the 2001 Performance Equity Plan
10,000,000 $.12(1) $1,200,000
(1) Based on the last sale price of a share of our common stock…on May 15, 2001
(2) Pursuant to Rule 416, there are also being registered additional shares of common stock as may become issuable pursuant to the anti-dilution provisions of such plan.
Excerpt from the 2001 DEF-14A (relating to the S-8):
The 2001 Plan authorizes the granting of awards, whose exercise would allow up to an aggregate of 10,000,000 shares of Common Stock, to be acquired by the holders of such awards.
In order to prevent the dilution or enlargement of the rights of holders …the 2001 Plan is subject to equitable adjustment in terms of any award (both of shares and price) by the board of directors in the event of any increase or decrease in the number of shares of outstanding Common Stock …
Excerpts from CMKI 2001 Performance Equity Plan (S-8 Filing):
The Plan shall be administered by…to the extent possible…"non-employee directors"…and "outside directors".
The Committee shall have full authority to
award, pursuant to the terms of the Plan: (i) Stock Options, (ii) Stock Appreciation Rights, (iii) Restricted Stock, (iv) Deferred Stock, (v) Stock Reload Options and/or (vi) Other Stock-Based Awards.
select the officers, employees, directors and consultants of the Company or any Subsidiary to whom Stock Options, Stock Appreciation Rights, Restricted Stock, Deferred Stock, Reload Stock Options and/or Other Stock-Based Awards may from time to time be awarded hereunder.
permit a Holder to elect to defer a payment under the Plan under such rules and procedures as the Committee may establish, including the payment or crediting of interest on deferred amounts denominated in cash and of dividend equivalents on deferred amounts denominated in Common Stock;
…the Committee may, in its sole discretion, at the request of the Holder, deliver upon the exercise of a Nonqualified Stock Option a combination of shares of Deferred Stock and Common Stock; provided that, notwithstanding the provisions of Section 8 of the Plan, such Deferred Stock shall be fully vested and not subject to forfeiture.
…a Holder, with the approval of the Committee, may transfer [Non-Qualified Stock Options]…by gift, for no consideration, or… to or for the benefit of the Holder's "Immediate Family"…or [to] a trust in which these persons have more than fifty percent beneficial interest, and a foundation in which these persons (or the Holder) control the management of the assets.
The Plan is intended to constitute an "unfunded" plan for incentive and deferred compensation. With respect to any payments not yet made to a Holder by the Company, nothing contained herein shall give any such Holder any rights that are greater than those of a general creditor of the Company.
Option Term. The term of each Stock Option shall be fixed by the Committee; provided, however, that an Incentive Stock Option may be granted only within the ten-year period commencing from the Effective Date and may only be exercised within ten years of the date of grant (or five years in the case of an Incentive Stock Option granted to an optionee who, at the time of grant, owns Common Stock possessing more than 10% of the total combined voting power of all classes of stock of the Company ("10% Shareholder"). "
I've been doing a little reading about Executive Registrar & Transfer and Jack Donnelly's prior history. Seems like an interesting story and certainly not free of controversy.
trade15
Bottom line is that I suspect that he's trying to clean things up here in Canada for a safe haven. If he doesn't have any troubles with Canada Revenue Agency he's pretty well got it made.
trade15
Yes those bank accounts certainly were quite the story and could certainly complicate things. But Urbie's blunder here in Ontario and Sask. could give CDN shareholders legal cause . It wouldn't surprise me if he would settle with CDN shareholders so that they would just go away. I believe that he's tired of not having assets in his own name and is looking to clean things up here in Canada. Doubt if he'll be taking a chance of going to the US in the future.
Duane