Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
mitch , the new wrinkle.
Thanks for the feedback
Rob has gone on record as saying that additional shares will have to be issued on another exchange once the financing goes through. My take is the OTCBB is VERY likely that exchange. So we'll be hitting the American market with additional shares now before anyone comes in screaming dilution and shareholder rape I have been violated etc etc. I for one think it's an opportunity for growth not the end of GBRT quite the opposite, larger market share , exposure to a larger market and a more explosive trading situation than the CNQ (with all due respect) could hope to provide.
Although I see Rob staying with the CNQ for a good long while I see these shares gradually but opportunistically getting dwarfed by a much larger market and a far larger shareholder base south of the border amassing a lot more revenue for GBRT than anyone here appears to have bargained for.
Mitch that is exactly the valuation I was talking about spot on. How do you find yourself with this proposed expansion? Do you find it offensive Rob will be diluting into the American market having held so long through the dark times or can you see the necessity and it's advantages? From the gut mitch there's no need to be politically correct or anything this subject seems to have slipped below the radar. Excellent post mitch please sound off. Am I off in my estimation of this proposed expansion or do you find yourself in agreement?
Anyone else care to chime in here? Fill your boots it's your board and your money we be chattin about here boys.
I just want to make sure this "new wrinkle" is clearly understood thread and out in the open before it's too late to discuss and the wheels have already been put in motion when it's too late.
Goooo GBRT!
Best....Rich
sootman
I have held here for a year I need no further introduction to CMKX believe you me.
I am saying we are going no where without guidance look even Maheu said that in his opening salvo GOOD LORD don't you want to know where your money is being used? Any public company needs the backing of longs I'm not talking about stories or even filings or PR's I'm focusing on RESULTS
are you saying you're gonna sell without the guidance?
First chance comes my way to get my money out and if you think I'm alone you have another thing coming. I'm not a basher as you suspect just a fet up to the teeth long dead tired of the foot dragging back pedalling innunedo.
Why do you suppose they are under the microscope? I think I know why sootman. Half truths teetering on fraud and criminal intent is my guess, cleverly coined "deficiencies". What did you get out of the party at Las Vegas? Where have these "mergers" taken CMKX, inquiring stuckholders would dearly like to know. Have you seen any drill cores in the last eight months? Where are the other drills management approved for purchase? How is the United Carina partnership going with reference to uranium mining can you remember that endeavour? How is that CMKX credit card deal going thus far?
Why don't you know the answers to these questions sootman? Management NEGLECTED to tell you that is why they failed to communicate to their stockholders. IMHO that is why CMKX is under the microscope. Don't you feel you have a right to know what your company your invested in is achieving?? I sure do.
If you can't seriously expect management to inform you truthfully what is going on then how can you seriously expect to make money in this investment. I'm sorry I cannot comprehend your logic , all I can see are a great many innocent investors being taken for a ride thus far. Shouldn't that alone qualify for clarification from management if we are to reach the OTCBB as a reporting company? Take your time sootman I'm trying to make you think more clearly about your hard earned money not insult your intelligence. I understand how easy it is to fall in love with this stock and trust me so does management. ALL TO WELL.
Give me guidance CMKX what you are going to DO ...NOT what you SAY you are going to do. Justify the faith I have entrusted to you. Justify it with results not excuses; success not foot dragging , walk the talk not smoke and mirrors.
ALL you realize sootman? JMVHO Very best of luck here and have a great evening.
Cheers....Rich
(OT) ...slightly Could not reach Clearly for comment
Will try again Tuesday...
Oh well
Richie ..imo co. guidance is not needed
Can't always agree on everything. CMKX suffers from a bludgeoned reputation it's every bashers favourite streaming ticker too. Filings will help for certain but without company direction I'll give you three guesses what path longs will choose.
the reason i say this is because there isn't anything that is gonna cause people to buy or sell at this point. ...that might be because you have been told sweet tweet about what this company is accomplishing sootman.
I for one would sure like to know when the drills will be turning. I for one would sure like to know what if any progress has been made on becoming fully reporting so we can go on the OTCBB. I for one would sure like to know what if any short squeeze I can expect from CMKX. I for one would sure like to know what happened at the major meet and fish pow wow in Saskatoon last freakin YEAR!!!!
Far too much is left to the imagination sootman and until that ceases you will be here cellar boxed filing or no filing. When will Urban fulfill his commitments to The Green Baron interview? Christian Traders? Can you see a pattern here yet?
Please...
This is not my idea of good management! I want management that will WORK with my money not pander it thank you.
More company guidance
That is what is needed or we sit here twiddling our thumbs discussing the Saskatchewan weather. C'mon Urbie fess up come clean no more hogwash get down to business and inform these SHAREholders
Interesting viewpoint forevervinyl
You may well be correct the company has been advised by Maheu to communicate regularly with shareholders which I believe is a better strategy at least we are being kept SOMEWHAT in the loop.
That is in direct contrast to Roger Glenn tight lipped mum's the word strategy but I would have to wonder WHY Roger Glenn failed if that is what your suggesting.
Is Urban trying to cover his tracks? Roger Glenn was hired to look into trading irregularities that's all we were told. We may never know how Roger did or didn't do to me that's wrong the company can communicate better than that they clearly choose not too. IMHO Roger likely deserved better than that. The fact CMKX is now fully reporting if Roger could tell you, is likely the eighth wonder of the world. Like I say business is business.
I guess today's pertinent question then is what are these trading "irregularities" exactly, Urban refferred to so many months ago? What are the "deficiencies" Mr. Maheu is now citing exactly? Someone is not saying enough intentionally my guess is it's Roger and unfortunately that's his trade so to me this is all another cover up by CMKX when we crucially need creditable information. Did Roger pull it off or did Roger come up short? C'mon Urban this is more smoke and mirrors!
How many SNAFU's must Urban subject us to before we get any pertinent information. If this is not a SNAFU then why doesn't he come clean and tell us what is really going on?
JMVHO forevervinyl but for this...- CMKM Diamonds Inc. (Pink Sheets: CMKX) today announced the reinstatement of its reporting status under the Securities Exchange Act of 1934 through the filing of an amended Form 15.http://tinyurl.com/4k2oh
I believe we have Roger Glenn to thank profusely. If CMKX is walking the talk and they are to become FULLY reporting then I strongly support Mr. Maheu here, CMKX PR's need to become far more concise and more Shareholder Updates on a regular basis through that website or else they will continue to shoot themselves in the foot. I believe Roger fulfilled a need through his very niche expertise. LORD we may need Roger back if this keeps up !!!
I guess the real shareholder dissatisfaction is that we have gone fully reporting and yet we are still essentially cellar boxed. Pretty deflating with so much that is apparently about to take place. The CEO must take responsibility for that he needs to be more transparent NOW and win the confidence of the shareholders. He has chosen Mr. Maheu for that I'm prepared to give him a chance but make no mistake forevervinyl this NEEDS to be good man. If we are going to the OTCBB like was insinuated by management, the time for smoke and mirrors has come and GONE.
ALL you realize forevervinyl? JMVHO GLTA
Best....Rich
goodchance2win
"On behalf of the company and its stockholders, we would like to sincerely thank Roger Glenn and his firm for all of their past efforts," stated Urban Casavant, CEO/president of CMKX.
See 3rd paragraph http://tinyurl.com/4k2oh
Frankly it seems old Roger is getting the back door boot the way the company has handled it. I'm not convinced he was totally unnecessary but that is almost the impression I'm getting there has been absolutely no reference to what he accomplished.....? Seems quite matter of fact after some 8 months at the helm for Urban.
Business I guess I hope they parted on good terms Roger sure seems the unsung hero here IMHO.
Best....Rich
Can I sort of steer this a little ragtrade?
Thanks for the banter mitch I got a good laugh , not sure who RR is ragtrade but banter aside there is something that has been on the back of my mind. I'll make a bet with you all...a friendly one keep your wallet in your pocket guys I'm not a billionaire either LOL!.
I know the IR guy at Clearly Canadian I am willing to bet you that he will tell me that company went to the CNQ for essentially the same reasons GBRT went, in short Venture Exchange intransigence. I will call him Monday and find out his story because although I'm out of that now I KNOW Clearly was trying to expand and just did a Private Placement they were revamping ALL their marketing streams having lost a lot of market share to poor distribution.
Truth is Clearly had been stagnant for years something was holding them back and although I didn't know it then I think I know why now...you can't bite the hand that feeds you I sensed in talking to Clearly an undertow of frustration they did not want to get into at the time that is why I took the loss and left. I think I know now EXACTLY what was wrong and it will be interesting to watch how Clearly Canadian does under the CNQ banner also. Get used to this the Venture Exchange monopoly has been broken and the playing field is becoming more level all the time. Competition finally thank heaven because it benefits everyone.
Now in talking to GBRT management I get the crystal clear impression this financing is not a matter of if but WHEN now since the shift to the CNQ. Let's assume they are right and sure enough this financing goes through. This is not pie in the sky folks it's done as a matter of course now in the US and Europe. What I am getting at here is remember all those predictions of valuation at .64 cents once Rob gets the financing from StockHouse board before the change to CNQ was known??? Wow LOL! heady days I remember all those evaluation gurus posting why GBRT must be AT LEAST worth that and I am not saying they were wrong far from it.
I was wondering how those evaluations might have changed now that we are on the CNQ? Does anyone have a revised target for GBRT once financing closes? Assume we get what we are after (financing through this asset based vehicle) assume the news goes out GBRT will now have the funds to do what it has wanted for so long and GBRT DOES expand like they have intended all along.
Does anyone have a post PR financing target ? I'll post about that gentlemen's bet after I have talked with Clearly I'm starting to enjoy this now that I understand finally what was screwing up Clearly Canadian chances... it wasn't management at all ...DOH!
Hang on I am forgetful CLV was on the TSE not the Venture! LMAO this is getting better all the time ROTFL here is an excerpt from CLV's PR
"The CNQ offers a fully electronic exchange with instant order execution
and transparency for investors. Listing on the CNQ provides our
shareholders an efficient new marketplace for trading equity
securities," said Douglas L. Mason, President and C.E.O. of Clearly
Canadian Beverage Corporation.
I'll keep you posted guys I am man enough to admit f I am wrong but I sense the CNQ's much much smaller regulation compliance is the driving force here what a scoop for the CNQ This used to be a flagship stock on the TSE and interestingly enough they are also on the OTCBB already (CCBC) LOL! I'll also bet you the CNQ is just smiling like a cheshire cat right now! Get back to you boys later....
Some good DD here Zen
But it LOOKS fishy when just as our stock is consecutively skewered by Mr. Smith our hero of last several months Roger Glenn surreptitiously vanishes into the ether.
An opportune time for a professional pot shot? Well judging from what I now know of John Smith (thanks) he certainly seems capable of good timing.
IF Roger Glenn has left and I can only assume that from Mr. Maheu's statements then I think it is essential for shareholders to KNOW what Roger Glenn accomplished for his last what 8 months? Close enough at ........$500 per hour?? That's no chump change Zenny.
I don't care if the stock is OTCBB Pink or Purple all shareholders need clear guidance from the company and I find it abhorrent that CMKX has failed to tell us why Roger Glenn has been paid all this money. The only clue I have comes from Mr. Maheu's citing of CMKX's "deficiencies". Would it be unfair to say there is blood on the carpet here?...I don't think so.
So if RG's departure now looks increasingly fishy and Mr. Matheu all but confirms CMKX has had some SERIOUS shortcomings and Urban is still confoundingly quiet, I'd say our Mr Smith picked an easy mark for his diatribe. CMKX looks to be in more of a shambles than when I bought in a year ago when longs were threatening management and employees like some ugly backroom brawl. We are close all right , close to a class action near as I can tell.
Where are the drill rigs, where are the people who have 1.9 million acres to explore? I got to tell you Zen my confidence of late has been severely eroded by this company continuing to cover their trail with no apparent progress and all signals pointing to a fork in the road. With so much going on under RG guidance and no news on his progress ZIP...just his departure you would be foolish not to be looking out for an R/S in the not to distant future. I'm not pulling the fire alarm at some Cineplex here nor am I predicting the sky is falling either. I just don't believe that last filing was anything to do with progress but rather compulsory conformity to new SEC rules.
I wish I had reason to be more confident truth is it's at an all time ebb. The drill(s?) are turning but they don't want to report any PR, the company is battling naked shorts but the hero of that effort is now unceremoniously evacuating out the back door pockets a bulging. The company is going fully reporting at the hands of an octogenarian with a firm grasp on the helm. Has anyone checked the steering? The company IMHO has achieved sweet tweet in communicating to any clear headed long that the slightest sliver of constructive headway was being made whatsoever.
Secure for heavy seas Zen trim sail to storm rig and pack your Gravol old buddy break out the crackers and Perrier this could get very hard on the gut. I'm sorry Zen I wish I could think of something to cheer about CMKX HONESTLY!...but with one steady SNAFU after the other it would appear John Smith has a cozy little retirement job here and we be still cellar boxed while Roger Glenn prepares for an aggressive game of tennis.
All you realize zenninvestor32? JMVHO Very best of luck to you sir yes I'm holding...like I have a choice ...aahhhh don't get me going, I could eat nails for breakfast!
Best....Rich
Easy guys
I guess I'm putting you off the trail with all this supposition. But Rob clearly did try to conceal something all I'm saying is he may have some minor announcement(s?) up his sleeve. Who am I to say he may be right on the verge of a major PR but IMHO ...not yet.
Ragtrade I believe you'll find mitch was poking fun at least that's how I took it. LOL!
Cheers....Rich
I say mitch?
Now see here old chap ...that's quite preposterous INDEED
However I can say Robin and I went to different schools together...now will that be a Scotch or that dreadful Bourbon?
I should clarify something here...
Rob tells me I'm right SECURITY is the next big thing in VOIP and a sidenote when GBRT installs a VOIP system you can be pretty certain it's secure. In business you cannot just plug into a VOIP internet provider it must be secure or industrial espionage and all it's entities become a very real problem.
How secure? Well our networks plug into the same encrypted servers that the US Navy are using overseas and the same also that NASA are using so when I say "pretty" certain it's sarcasm.
GBRT VOIP systems are secure as they come I was not aware of that so thought you might like to know!
Just a headsup
I had a word with Rob the usual questions were asked financing PearTree CNQ etc etc. all went pretty much as expected except for one question...
It was off the cuff so I can't remember verbatim but it definitely caught my ear. I asked if there was any other developments he could let me in on. Pregnant silence... well ...there are some things I have to be fair to all of you with so I cannot comment with you right now.
Now bear in mind that was far from verbatim but essentially was the gist of it. In other words guys I think we could be seeing SOME KIND of news in the not too distant future. I don't think it's any same old stuff I got the feeling this is something altogether new but that is JMVHO I could have been just pressing to much but I really got the feeling there was some thing brewing we are not even privy too.
Why do I say that well Rob is about the most honest CEO I have ever stumbled across LOL and it was apparent he wanted to tell me but was restricted from doing so. It might be anything but something caused a lump in his throat ;)
ALL you realize? JMVHO GLTA longs
Cheers....Rich
Rule 15c211
http://www.gopublicusa.com/whatis15c211.html
Sounds to me like Roger and Urban were required to file like a lot of others I am not that confident this is any indication of progress on Roger's part could be wrong and I hope so I'd love to think Roger has made some headway in this sea of corruption but something today tells me otherwise.
Best...Rich
Well that's interesting mitch
I remember your post(on SH) regarding the possibility of going to the OTCBB. I was shocked(i'm sure i wasn't the only one) when we ended up on the CNQ.
I must accept part of the blame here I reckon then. The OTCBB move will only ever come (if at all) when the financing comes through not until as I understand it. The timing of the CNQ took me a bit by surprise also. But don't expect any new larger exchange until financing is closed that's what I have been told.
I have a call into Rob Matheson but he is busier these days not certain if we can hook up I have to go to work again Sunday night looks to be so Friday is my window for a CEO chit chat.
Concerning our BOD I'm not that familiar with them on a name business but the most impressive part of these new directors is they came to Rob because with a background in what Rob was attempting they thought they could do business together. The Director from Halifax (name I believe is Varteresian) has done this type of financing deal before he is very familiar with what is needed. Apparently he has two prospective financial partners he is already negotiating with so he must be quite proficient in this kind of negotiation.
If memory serves the other new director has experience with what Pear Tree is doing. I need to come up to speed on this info mitch maybe someone else is more versed in our new BOD and can clarify?
Anyway as they approached Rob and not the other way around was one of the big reasons they were hired. They already had the skills and most importantly displayed a genuine interest. I believe Rob met both at a business seminar, very fortuitous as it turns out.
Hopefully I can get through to Rob this week I have a few questions I want to ask him myself but HTH!
Best...Rich
On the contrary ragtrade
Thanks for posting good points to keep firmly implanted in one's trading head. Very gratifying to see a frustrated long venting not that misery loves company just that well that's why the board was launched in the first place! Just remind yourself too though...
EVERY dog has it's day...and I'm not so sure we are that far off with three possible deals to close on possibly more... I believe our luck could turn sooner than many are telling themselves.
Appreciate your candor ragtrade hang in there and thanks for some good points we tend to forget while we are anxiously for Glenbriar to breakout ;)
Best....Rich
Hi mitch excellent question
IMHO NO I don't think so ....here's why.
Take a look at CLV I was in that and lost my shirt that used to be a $30 stock in it's hey day believe it or not. Now ask yourself why they have just moved to the CNQ?
I don't believe the CNQ will hold us back but I am convinced even WITH financing Rob is so upset with the stonewalling he got there he won't return to the Venture. You know once bitten twice shy? Man he nearly got eaten alive by pompous ineffectual management IMHO uh-uh ain't ganna happen laddy!
That said Rob has privately said to me and I believe I have posted this before... With the finacing closed he will NEED to go on another exchange likely the exchange most geographically close to the financier. As there are two present deals being pursued in the US and one in Europe I think you know where I'd place my money. OTCBB seems a safe bet but you never know.
What I do know is Rob was oh so chaffed with the Venture stonewalling I mean BIG TIME, testimony to his professionalism he did not waste his time he just moved on the most expedient route possible. How would you feel watching your company disintegrate because someone didn't have the fortitude or exhibit the responsibility to say either yes or no? Meanwhile he had to kiss goodbye a practically done deal no sir IMHO he won't be returning but I don't know that the TSE has been ruled out either don't forget a lot of people in the CNQ are from there....good people!... so the TSE, I believe the TSE listing could be possible but that would take more than financing IMHO Rob would need to show adequate revenue strength and perhaps a few other governing factors I'm unaware of.
Here is the CLV thread http://www.stockhouse.com/bullboards/forum.asp?Symbol=CLV&table=list
Frankly while these former high flyer companies falling on hard times joining the CNQ are helping us in exposure ; a real sign of confidence in the CNQ IMHO would be for a new company to totally bypass the Venture and join the CNQ now that would be the ultimate snub and deserving medicine for Venture Exchange management.
I'm just in from work mitch and they have lead me to believe I'm in for rest of the week (I never know) but if I can I will telephone tackle Rob Matheson and see if there is anything new to report.
Good post mitch
Cheers....Rich
Very disconcerting
Seems no one even has a comment on this guy John Smith well okay but even if he were wrong about CMKX what he writes gets read and it was fodder for the bashers on StockTalkLive! a talk radio webcast devoted to small caps.
Yup CMKX just got dragged through the mud like you wouldn't believe claims of 100 DIFFERENT CMKX bank accounts that have been subpeonaed by the SEC for one. The caller (I won't finger him) used to own this company when it was fully reporting then sold in two minutes when he heard it was going back to the pinks. Unbelievaly scathing and cynical remarks by a former shareholder who does bear a grudge evidently but here's my source of real discomfort.
All generated by a Mr. John aka "reporter" Smith whom I have no doubt we'll hear more from yet mum is the word on this board. Excuseme have we all resigned to the idea this is a total scam and just are not prepared to admit it to ourselves yet? This is serious stuff longs this guy is making a living off your money by skewering your stock and no one finds it worthy of discussion. Have I missed something?
I don't know the outcome for CMKX it will of course be interesting and no doubt debated for years but I do feel our fortunes are taking a decided turn for the worse because of a Mr. John Smith from Las Vegas and I believe it's pertinent to this bulletin board hence my reason for posting and re-posting it.
I know the articles won't get swept under the rug like many are hoping my post will. IMHO this guy has an in for Urban (John Smith) and basher or saint he is doing considerable damage. If Urban or CMKX does not stick a finger in this dyke by that I mean clarify these unsettling accusations then I think the credibility of this play just got a swift kick or three in the crotch. It's too damning to slanderous to be swept under the rug and I'm even more disconcerted this board feels it's unworthy of discussion!
True or false bad press will leave it's mark on any stock even if your selling methane on Titan bad press sticks like glue. IMHO we just took several serious hits to the bread basket. I call upon management to rebutt these allegations publicly or prove them libelous otherwise they are at fault to shareholders.
We have two highly paid highly skilled lawyers that could be put too use here. Silence is admittance of guilt in the eyes of the market you and I know that. I can't understand why CMKX does not deny these charges because they are NOT going away and they ARE doing considerable damage IMHO.
Okay I'll try once more ; does anyone know anything about these allegations please? richierichness@yahoo.com ....if it helps.
ALL you realize? JMVHO GLTA longs looks like we are going to need it....
Best...Rich
http://www.reviewjournal.com/lvrj_home/2005/Feb-11-Fri-2005/news/25845141.html
Professional Pot Shot?
My apologies if this has already been discussed I have been away and struggling to catch up ; this was a pretty bold swipe at Urban and family. I wonder if anyone had any comments on this guy and/or his not so subtle insinuations here please?
Is this SEC investigation for real or is John Smith trying to make a name for himself through some concocted shock jock journalism? Sorry I am very busy with work and other stocks and this got past me if already discussed. Either he is correct or he is pushing the envelope for jounalistic libel in my interpretation with a biased view that extends beyond a maybe.
Not wishing to stir up a hornet's nest just like some comment on his claims of a SEC investigation it seems clear to me either we are being investigated or we are not does anyone know the answer to that?
http://www.reviewjournal.com/lvrj_home/2005/Feb-08-Tue-2005/news/25821561.html
Interesting article on CNQ
http://tinyurl.com/5spmt
94 companies pending and a new Vancouver office?
Hold it I like the sound of those numbers ;)
Thread if only paper trading follow RDXM
It's a short squeeze of that I'm certain and look at the recent uptrend all despite the litigation that just got launched. La Jolla Cove have a CD and have sued Radix yet the PPS is rising. Do you think Radix has something La Jolla Cove hadn't banked on? COUNT ON IT
RDXM is on the SHO list they have current and pending major contracts this will likely continue the uptrend this week TIGHTLY held IMHO it's a cinderella short squeeze in it's infancy my only regret is I didn't buy more.
You may recall DNAP having difficulties with what seemed a sure fired winner? Yep you guessed it La Jolla Cove CD took them out in steady classic fashion.
It appears Radix is seeking to cut LJC loose this is one to watch and a great dry run for CMKX even if you don't own it the outcome will be educational it could be the first SHO success story.
IMHO serious major poppage for RDXM could happen at any time and believe me they deserve it after the meat grinder they have been put through. Incidentally La Jolla Cove has already been successfully sued (or counter sued not sure which) by Magic Media Networks. yet here they are at it again. Suggests to me whoever our offshore hedge fund or other enemy is they are likely not very smart and it's tricky litigation proceedings that keeps Roger Glenn with CMKX. It amazes me Urban can afford this guy so long you'd think Roger was cut some shares the way he keeps at it....hmmmm I wonder?
Anyway good luck longs I'm still hangin for the bangin as one person I got in this used to say but watch RDXM I do believe you'll be witness to a magnificent launch of a SHO listed stock. Yeah I'm out on a limb my impeccable credibility at stake here but I'm tellin yahs all rights heers and now CMKX'rs...
RDXM ==
Oh hang on what dang credibility is Rich talking about?
You were warned ....GLTA!
Interesting Article (lengthy)
Probe snags three hedge fund managers
Reuters News Service
NEW YORK - U.S. and Canadian regulators have charged three hedge fund managers with insider stock trading violations as part of a broad investigation launched last spring into a string of alleged short-selling abuses.
CompuDyne Corp. said this week it recently learned that former investor Hilary Shane faces NASD charges of violating securities laws in a financing deal the security company did in October 2001.
Shane, a former hedge fund manager at First New York Securities, LLC, made $1.1 million from inside information of the deal, according to an NASD complaint filed in late December.
Michael Finkelstein and Elizabeth Leonard, of Toronto-based Stonestreet LP, face similar charges by the Investment Dealers Association, a Canadian regulatory agency.
The charges come less than a year after the U.S. Securities and Exchange Commission and the NASD pursued allegations of hedge funds profiting from inside knowledge of private investments in public equity, a transaction known on Wall Street as a PIPE.
PIPEs help cash-strapped companies raise money quickly by selling discount-priced shares to a group of investors. The stock of a company conducting a PIPE usually falls in the short-term because the transaction floods the market with additional shares.
Regulators are investigating whether individuals who helped finance a PIPE profited from selling short the company's shares before the deal closed, knowing its stock was about to fall.
Shane, who left First New York in 2002, is accused of doing exactly that.
Short sellers borrow shares of a company and then sell them in anticipation of a decline. They profit when the stock falls since they can buy back the shares at a lower price and pocket the difference.
In September 2001, a representative at investment bank Friedman, Billings, Ramsey Group Inc. contacted Shane about doing a PIPE with CompuDyne, according to the NASD complaint.
The complaint says Shane made false representations about her investment intent, obtained the right to acquire 475,000 shares of CompuDyne and then engaged in unlawful insider trading by selling the company's stock short while in possession of material, nonpublic information.
First New York has not been charged in relation to the case. Shane could not be reached for comment.
The complaint does not list charges against FBR, but FBR said on Nov. 9, 2004 that the SEC and the NASD were investigating the bank's role as a placement agent for an unspecified PIPE transaction in 2001. An FBR spokesman declined to comment further.
Finkelstein and Leonard face similar charges stemming from a PIPE involving Novatel Wireless Inc. in 2001 and another with Trikon Technologies Inc. a year later.
Stonestreet LP's Web site lists Finkelstein and Leonard as officers of the investment firm. The IDA complaint says that Stonestreet maintains a non-client account at Canaccord Capital Corp.'s Toronto office that operates as a hedge fund, which Finkelstein and Leonard co-manage.
The fund would hedge against its anticipated investment in a PIPE by "shorting the issuer's underlying stock," according to the complaint that was filed on Jan. 7.
Reached by telephone at Stonestreet, Finkelstein said he would not comment. Leonard could not be reached.
Last week drugmaker Nuvelo Inc. said the SEC had contacted it about a private transaction the company did in 2002.
"We're concerned about instances in which hedge funds executed profitable short sales in an issuer's underlying equity after learning about a pending PIPE transaction," said SEC spokesman John Heine. "Our review is continuing."
HoustonChronicle.com -- http://www.HoustonChronicle.com / Section: Business
Feb. 4, 2005, 3:34PM
Ooooooops forgot your link
http://www.stockhouse.com/bullboards/forum.asp?symbol=GBRT&table=LIST
Goooo GBRT!!!
CNQ now on Stockhouse guys!
From the beginning I have said this chat room was yours to use feel free to post here as well as StockHouse but the coverage from StockHouse surely can't hurt!
It took me 15 minutes in another browser to post a short blurb on StockHouse otherwise my posts are illegibly spaced helter skelter VERY frustrating and even then it's like pulling teeth to post properly you think they'd get the hint I dropped several times not so eloquently STILL we are back up on the Mellow Yellow Chat Room from Hell every little bit of exposure is always better so your call thread ok?
Richie happily posting on SH--->
OK maybe I twisted the truth a little there LOL! As far as I'm concerned this is the Cadillac of chat rooms but as I always stated your call GBRT
Cheers....Rich
OT: Thanks bearbait don't know this one at all but
T/A suggests mounting resistance at 18 and .20 cents unless there is truly something major in a PR coming down the pike I would imagine bullishness will likely founder at 20 cents if not 18.
But then if you made a living off my T/A you'd likely die of starvation before your first paycheck LOL!
Anyway have a squint I think Angoss needs a major PR to get back in the saddle.
http://www.stockta.com/cgi-bin/analysis.pl?symb=ANC.C&num1=1&cobrand=&mode=stock
JMVHO I could easily be off my rocker like I say very preliminary DD bearbait GLTY
easy did DNAP ever fight these guys off?
It seems a precipitous fall from grace into oblivion if La Jolla Cove did take DNAP out I would have thought DNAP would have countered with a suit on breach of contract or something.
Did DNAP simply roll over and die because that's what it looks like checked to see if there was any history of DNAP taking on La Jolla and there wasn't anything I could find.
With DNAP's potential YOU'D THINK they would have fought La Jolla Cove tooth and nail what gives here any idea please?
Thanks....Rich
Breaking Blurbs for VOIP technogeeks
http://www.theregister.co.uk/2005/02/03/siemens_at_cebit/
http://www.emediawire.com/releases/2005/2/emw204208.htm
http://www.crn.com/sections/breakingnews/dailyarchives.jhtml?articleId=59300826
http://www.mysan.de/article36264.html
I imagine the next trend will be data secure VOIP systems because the US paranoid as ever are indeed quite worried about security on VOIP networks.
http://www.menafn.com/qn_news_story.asp?StoryId=CqGgV0eidDxmTDM9PC
Best.....Rich
Correct me if I'm wrong last close was 10 cents
Weak volume well of course no earth shaking news yet so naturally GBRT will not be breaking any volume records but my point is this stock was behaving very similarly on the Venture Exchange with ABSOLUTELY NO HOPE of ever closing financing.
I still think Rob made the best move possible given his choices left. Will be interesting to see how this trades when we get some some really good news. Whose to say we don't break CNQ volume records , quite possible if you think about it. This could really motor it looks like February and March are expected to improve substantially from all sources I have , the large caps are flat as a pancake and every investor likes to make money so you know where they are migrating to... GLTA.
Respectfully to all those GBRT detractors ,deans of doom and professors of gloom , as well as the nit picking naysayers who predicted the end is near for GBRT I think it's clear this stock is here to stay and is far better positioned to take full advantage of this financing once it gets here which thanks to Rob will be far sooner. So to all you slaggers of the the GBRT cloth and all those villains of the VOIP dream a hearty and richly deserved...
easymedecine
These debentures; do you speak of La Jolla Cove only and would you venture to say that La Jolla Cove's CD in December of 2003 was Toxic?
I have been very interested in DNAP but it has never struggled out of the above a nickel range to my knowledge and I'm wondering if La Jolla Cove might have something to do with it? 8 million dollars is a lot of overhead and it doesn't seem to have helped DNAP but rather hindered. Thank you
Best....Rich
Can you give me a hint please bearbait?
did you happen to check into the stock I mentioned to you before
Checked all your posts here senility must be setting in I reckon can't recall the ticker?
Atomic Re: January Report
Those two commercial installs I have posted about previously. This new Greeting for TAPI enabled VOIP systems enables a virtual answering service and it can be relocated to anywhere. When the inquiry comes in the operator "sees" the person calling and the company being called and can direct the call or answer it whichever works best. In short a far more personable VOIP call center that can cover for multiple companies with the same if not better efficiency and more cheaply.
The major flooring company was a previous GBRT VOIP customer which relocated it's offices in Calgary. Rob said they were happy as a clam with the first and second subsequent installation and of course that meant more revenue for the VOIP side of GBRT.
I don't have a clear understanding of the Shore Tel overseas calling center obviously has something to do with the new Greeting function but I get the impression these calling centers can be very large indeed one expected in Australia and Vietnam so this VOIP is only going to get more refined and upgraded in functionality as it replaces the Ma Bells that are really hurting right now.
OK I pressed for any news on financing and yes Rob is getting busier as things heat up for GBRT. There are no defintive deals yet BUT there are two prospective deals stateside that are showng promise and one in Germany that is the ongoing Due Dilligence the report was talking about. Apparently the new Director from Halifax is specialized in the US negotiaitions and is handling those. I am not sure who is handling German financing negotiations possibly Rb himself.
Right now financing is still very much speculative but I confirm we do have 3 possible finacing deals right now in the works one could close at any time. They are being handled by the BOD and it is anyone's guess where the financing may finally originate from. Rob is getting all sorts of tips "we are close " etc. but as yet nothing definitive or concrete and you know as well as anyone here Atom Rob won't be PRing anytime until he gets closure for financing.
On the subject of the AGM Rob does not know yet how much it would cost to webcast audio from the AGM but thought it sounded like a good idea and will check into it and let me know later he is busy folks! I don't wish to get anyone's hopes up but feedback will help Rob decide whether the expense is warranted for a webcast of AGM. Anyone who requires a snail mail prospectus can have it mailed but you must formally request one from the company he is no longer required to mail a prospectus with advent of the internet age it is expensive and redundant so the requirement is only for proxy mailings anymore as I understand it.
I'll have to install OS X for my venerable Mac here that old Acrobat Reader is not cutting the mustard and new readers don't work on OS 9 it seems. Anyway Atomic there you have it best I can comment right now will do more DD on ShoreTel I am not up to speed on that yet.
Gentlemen as possibly more than one negotiator already has indicated to Rob "WE are CLOSE" my question is was he pitching horsehoes or hand grenades hmmmm?
Long & Strong
Best to you Atom/Thread....Rich
Atom just in and pretty dragged out...
Been working some crazy overtime and finally catching up on this and other stocks. No contact with Rob Matheson on Friday but will try again. While certainly factual there are some things I'd like more clarity on eg. that first overseas call center now that is starting to show real promise but I need a better grasp of things allow me some time to get back to you.
Not sure if anyone else has noticed this but the CEO is getting increasingly harder to get a hold of. I take that to mean his company is increasingly demanding more of his time what a difference from GTI days huh? So far Atom I like this very much but I would appreciate understanding this better before I make any conclusive comments please.
Thanks for posting I was having great difficulty opening the PDF on my computer so this is indeed helpful. The PDF format the CNQ seems to be using is not recognized for some reason by my Adobe Acrobat Reader weird eh... so I was starting to lose it with time constraints and what not here. Good on yah mate! Thank you
Will get back to you Atom when I can better offer some informed feedback.
Cheers...Rich
Speculative buying
Likely for an RRSP the way they are nibbling could be wrong. Speculation probably being someone thinks Rob will have a bomb shell for the AGM, and who's to say he isn't right?
Rob is out of the office but left a message for him to contact me I think it would be very advantageous to have the AGM archived for online media purposes. New investors won't likely attend and nothing is more boring than a prospectus in the snail mail IMHO.
Will update whenever possible herding off to work for a week or so OFFline so someone may wish to contact Rob himself about this. If so please FILL YOUR BOOTS and...
Have a great weekend everyone you too German GBRT partners
OT kinda sorta .....zenninvestor32
RDXM now appears to be in a short squeeze position buying here could very advantageous indeed. RDXM is on SHO list and a company has just launched a law suit on RDXM.
Very interesting stock without this but from a short squeeze perspective it could heat up big time Zen I'd be very appreciative if your lawyering group could kick this one around and see what thye think about it.
I'm in for the long haul anyway but man o' man this just got very interesting I see why Roger Glenn is pleased with SHO so far because it's working! Did Roger have anything to do with draft or introduction of SHO to your knowledge?
Very interesting stock just got a whole more sizzle Zen can't beat it with a stick! Unless of course it was Roger's club...my bet La Jolla is experiencing a serious wedgie right now with RDXM on the SHO list and you know what? It looks good on them!
If nothing else Zen a good primer for CMKX. Please let me know what your group thinks of this play squeeze now in effect STRONG BUY on RDXM. Thank you Zen
Cheers....Rich
I'd be looking for more than canapes mitch
I'll try and put the bug in Rob's ear for more electronic archival access rather than the proverbial snail mail Notes from the GBRT AGM 2005 route. Give the steak more sizzle and that is what this needs alright.
Did you reset your alarm?
Well I assume it's in Calgary?
Sure hope they will have an 800 number and a conference call set up or better still a webcast archive of the meeting, and reception for email questions. I can't make Calgary that's for sure. Appreciate the headsup Mitch!
Dunno who exactly Gump
...but I'd go with a young slimmer Buddy Hackett.
I disagree Roger's workload and frustration winning what he out's for with a guy like Urban would test anyone's metal. Sure Roger is running it but it's still Urban's company. I can't imagine what the books look like but I bet it's mindboggling.
I'm not convinced it's just paperwork after all the mergering dividends drilling car races etc etc. Roger IMHO has his work cut out for him.
Phil Silvers?
Best....Rich
Hey thanks prospector777 very decent of you!
Your offering an explanation? You dah man! Please! Fill your boots I'm all ears then.
C'MON ...Stop it Zen
Your killin me here man
Gump your take please...
I have seen numerous references to conversations with Andy saying they want to keep the price down until fully reporting. This includes no updates or improvements to company website until then strictly as low a profile as possible.
If there is to be a squeeze I would have thought they'd be pointed in the opposite direction? UP!
Can you suggest any reason why Roger wants to keep us cellar boxed I don't understand any clear logic to this strategy.
Well except ...errrr ummmmm you know???