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ski...Stay safe on the slopes.
I actually looked at my Waverunner today. It sits in my garage but today was the first 60's+ day that inspired me to even glance at it. LOL
It's been cold, snowy and rainy all month until today.
Hope your wife and kids are doing great
Nite for real.
Bo
zen, it's getting tougher to keep
the bloom on this the farther down this timeline we travel.
The main red flag for me was August 2004 with the increase to the 800 billion shares, then the dividend amount based on and o/s of 770+ billion shares STILL IN AUGUST! Our memory banks are full of this and so many other things.
Your posts have ALWAYS been informative and REAL. I know some take issue with your honesty being you are long in the stock, but it's what funnels the discussion back to what's real, and not what sticker is found on a race car that we paid for.
How can you hate a guy that makes a mean batch of popcorn? : )
The potential of CMKX Inc. is there. But as a shareholder, isn't honest leadership the key for us to realize the profits we all seek?
For me it is, and I know in your posts you've wrestled with the same issue of CMKX's potential vs the "Cybil side of CMKX" many times. LOL
Bo
Susie thanks,
My background and strength has always been the larger market. My eye has been on the smaller maket since the fall of 2003. Last December (04) I pledged to focus more on this small market and try to be sharper every day than the day before.
Many lessons in the bank, none bigger than PATIENCE on promsing plays backed by good DD at the time it's identified.
MANY have I learned from on the boards. I'm trying to take the best of what's out there and make it my own...Then try to make it better if I can.
We all need to gain an edge on finding solid plays and understanding issues of the market or certain stocks like CMKX.
My scythe has been swinging for a year and half through this crazy jungle, and it has been recently when it seems I cut through enough to begin to see what needs to be seen in pointed out on plays, DD and CMKX discussion and insight.
I'll try keep the scythe swinging.
G-Nite. : )
Bo
lipopog
Ok, make that 2 longs who see the mansions registered in the recent residential listings in that area as very disturbing. I'm sure that Alan would agree when I ask the question to everyone...who paid for these mansions??
We did.
I see him also coming on board to the fact that MM's, hedge funds and beyond have also been in the wrong here.
Hopefully many more will see this clear truth: A company with still great potential was used for nothing more than promotion and wild rumor to maintain market strength to issue hundred of billions of shares for millions to line the pockets of a few.
And Judge Murray won't be able to see this??? Please.
It's not going to be pretty. For the pb32'ers who want to keep drinking the Kool-Aid, I can't stop that. But I'll say it until I'm blue: The company has great potential. Current leadership (Meheu and Co.) needs to be in place to do that. Prior leadership is at the mercy of the court now. They are in front of a judge who won't be impressed with pokerchips and a wink of an eye. Thank God.
Further, before anyone gives a second thought to this so called attorney representing out interests, please just stop now. If matters get to the point that a class action suit is granted, it will be done with the oversight and approval of the courts. This "send this attorney $25 and you'll be on his list" crap could fast put itself open to investigation itself. And this Greenbaron (whoever that is) and others who should not be touted by the flock (but they are) are signing on to this???
Guys, if you are concerned, just wait. If CMKX remains tradable with Meheu as the leader and the others banished, they we're ok. Seeking investor representation at a hearing is simply not necessary. If pursued, the judge will likely not meld or consolidate any investor issues to this hearing. And please do not send a so called shareholder or an unknown attorney $25. Please do research beyond a friggin post and let any class action suit arise if investors need protected and the courts agree.
Bo
Administrative Law Judges Decisions & Orders...
http://www.sec.gov/litigation/aljdec/aljdecarchive/aljdecarc1999.shtml
I started in 1995 and am only half way through 1999. In 95% of the cases I have seen her decisions be by the book and tough. She's not afraid to punish wrongdoers further strengthening the message of her decisions.
You guys can scan them and form your own opinions about what we face. The dilligence and promise of compliance of current leadership is our only hope to remain tradable so not to punish we the shareholders.
As for the leadership team which caused this mess, all I can say is I've read her decisions and application of the law. I doubt they will be asked to say much other than to explain themselves. Their past actions and omissions speak louder than any words they will have to say.
Bo
http://www.sec.gov/litigation/aljdec/id269bpm.htm
Just read it.
Once you do, you'll know why I have been a lone voice, who is also long in CMKX, saying this will be a very tough process to emerge unscathed.
After seeing this case, I cannot believe they had the greedy, breash stupidity to buy mansions in the wake of 700 billion shares of dilution.
Bo
Case involving selling of unregistered securities...
http://www.sec.gov/litigation/admin/3440313.txt
She found the defendant guily and imposed sanctions.
Read Section II (C) slowly. You'll know why I say this when you read it.
Bo
Chief Administrative Law Judge Brenda P. Murray
will preside over the CMKX hearing.
I'm sure from this many will bring links and references to her many decisions. She has years of experience as a judge and....seems tough as nails and goes by the letter of the law from what I can see.
Go to any search engine and type in "Honorable Brenda P. Murray" and you'll have a wealth of reading of cases she has presided over.
So rather than bore you with lengthy summaries and opinions, here is the 2004 Securities Review. Scan down some and you'll see her decision was voted the harshest for 2004. She came down very hard on E&Y for not following protocol. Sounds familiar to me...
http://slw.issproxy.com/securities_litigation_blo/2005/01/2004_the_year_i.html
BTW, in scanning proboards32, they are minutes away from becoming a totally non-credible source for any real information or discussion. I think someone added LSD to the Kook-Aid for them and the GreenBaron flock.
Again, meanwhile prior leadership have just all bought mansions...and no one cares. They love it.
I'll lay 10 to 1 odds Judge Murray thinks differently.
Mr. Meheu's influence and committment to compliant leadership are the only threads they can argue. NSS is no where mentioned in the complaint. CMKX's last pr is an outright admittance to the omitted filings.
I hope they get through this, but unlike the small town carnival other boards are trying to make this out to be (it's almost embarrasing to read), what is to come is a full plate of very serious issues.
Bo
BOCX
News with ABT.
Also noteworthy to BOCX, ABT was upgraded today by J.P. Morgan Chase.
Was a nice bell entry. : )
$2.23 now. Should be nice all day long.
Bo
Joye: BIPH. Wow!
Claim #101047025 Still Active...
http://www.ir.gov.sk.ca/adx/asp/adxGetMedia.asp?DocID=3572,3385,2936,Documents&MediaID=8974&...
Very active. It covers a large area. I didn't realize how large.
Franko and GB confirmed late last year this was part CMKX's claim holdings.
101047025 is in addition to what was listed in Form DEF 14c. 101047025 didn't appear in their 2003 filing.
Bo
Janice, maybe that's why CMKX
said this in the DEF 14c,
"(4) The claims of Morgain Minerals Inc. are under option, but are included."
It wasn't their largest holding either:
"Morgain Minerals Inc. (4)
9,216
March 20, 2004
$110,592
$ 72,382"
This shows Morgain Minerals claims in to be much smaller in size and value than others mentioned in the DEF 14c.
It would appear that with CMKX now owning land and/or mineral rights between 1.4 million acres and 1.9 million acres (whichever it is), this DEF 14c seems only a snapshot in early 2003 of some of the holdings they currently own.
I did catch your post about BOOM by the way, but have been too busy to look at them more in depth. They sure seem to be on a roll right now.
Bo
Memory Lane - Chapter 2 - Seeing part of CMKX holdings.
There are other chapters coming showing the imbalance of accurate information during what I've seen as a very large dilution effort, such as has never been seen before performed by prior management. I'll get back to my notes from time to time and pick up where I left off....still in 2002. LOL
Guys, the pr's were silly during this time. But one pr wasn't silly. It was very key to why we are here. It was a pr, but in fact wasn't a pr at all. The press release referred us to the filing of their DEF 14C filed on February 03, 2003. The pr was professional, informative and provided the link to the DEF 14C filing itself.
Of importance was the official transformation of Cybermark into the the holding of the Casavany family's mineral claims.
From the filing, we find some of our claims:
http://knobias.10kwizard.com/filing.php?repo=tenk&ipage=1993760&doc=1&total=&back=2&....
_________________________________________________________________
"Purpose and Effect of the Board of Directors Election
On November 25, 2002 the Company agreed to acquire the Casavant Family Mineral Claims in certain kimberlite deposits located in the Province of Saskatchewan, Canada. The Mineral Claims were held in the name of five companies owned directly and/or beneficially by the Casavant Family and Morgain Minerals, Inc. (a company held by third parties with the claims under option). These companies include Commando Holdings, Ltd., Buckshot Holdings, Ltd., 101010307 Saskatchewan Ltd., 101012190 Saskatchewan Ltd., and 101027101 Saskatchewan Ltd. In addition, Fort a la Corne Diamond Fields, Inc. acted as the claims and exploration manager for the five companies above, as well as, the claims held by Morgain Minerals, Inc. Each of these companies have agreed to transfer 100% of the Mineral Claims to the Company in accordance with the Mineral Disposition Regulations of Saskatchewan, 1986.
On October 28, 2002, Fort a la Corne Diamond Fields, Inc. completed a report on the five parcels of mineral claims held by Commando Holdings, Ltd., Buckshot Holdings, Ltd., 101010307 Saskatchewan Ltd., 101012190 Saskatchewan Ltd., and 101027101 Saskatchewan Ltd. The report also covered the claims of Morgain Minerals, Inc. All of the parcels were registered between March 2001 and March 2002 as listed in Table 1.
Table 1 (1)
Registered Owner
Area(2)
Due Date (3)
Paid Cnd
USDollar
Buckshot Holdings Ltd. (50%)
Commando Holdings Ltd. (50%)
78,177
March 2 and 9, 2003
$938,124
$614,037
101010307 Saskatchewan Ltd.
70,427
May 11, 2003
$845,124
$553,165
101012190 Saskatchewan Ltd.
81,568
August 16, 2003
$978,816
$640,629
101027101 Saskatchewan Ltd.
8,320
March 20, 2004
$ 99,840
$ 65,345
Morgain Minerals Inc. (4)
9,216
March 20, 2004
$110,592
$ 72,382
Total
247,708
$1,945,987
(1) Table 1 was prepared by P. Robershaw, P. Geo. for Fort a la Corne Diamond Fields, Inc. in connection with the properties.
(2) 1 hectare equals 2.46 acres with 247, 708 hectares equaling 609,361.68 acres.
(3) Based on U.S. Dollar/Canadian Dollar exchange rates, the amounts paid for the claims equals $1,945,987.00 USD as of January 30, 2002 exchange rates, but were valued at $2,000,000 USD on the date of the merger which is November 25, 2002.
(4) The claims of Morgain Minerals Inc. are under option, but are included.
The claims comprise a substantial and largely contiguous land position in a favorable exploration setting in the vicinity of the Fort a la Corne kimberlite bodies. In all, the properties consist of 636 claims with a total area of 247,708 hectares (611,625 acres). The 5 properties are located in central Saskatchewan within 100 kilometers of the City of Prince Albert and are largely accessible by road. Mineral dispositions in Saskatchewan are administered by the Saskatchewan Industry and Resources ("SIR"). The properties fall entirely within the surveyed portion of the Province of Saskatchewan.
In 2003, expenditures of $2,762,064 Cnd ($1,807,469 USD) will be required to retain the claims. In 2004 and subsequent years (until 2012) the required assessment expenditure will be $2,972,496 ($1,945,133 USD). After ten years, the annual expenditure on the claims increases to $25 Cnd ($16.36 USD) per hectare. Grouping of contiguous claims is allowed to a maximum block size of 10,000 hectares. Reports submitted to the SIR in support of assessment filings are retained on a confidential basis for three years, or until the claims lapse whichever is earlier.
Claims are defined in terms of legal sections or subdivisions. Road allowances, typically 20m in width, fall between the sections and are separate legal entities. In 2001, Saskatchewan Energy and Mines (now Saskatchewan Industry Resources ("SIR") amended the description of mineral claims in the surveyed portion of the Province to allocate road allowances to adjacent claim holders so that claim coverage could be seamless.
The majority shareholders of the Company have taken the following action since the Acquisition Date."
_________________________________________________________________
Then later in this DEF 14C filing we find this:
"Juina Mining Corp.
As previously announced on December 4, 2002, the Company entered into a Letter of Intent to acquire Juina Mining Corp. (Pink Sheets "GEMM"), a diamond company with working interests in producing diamond fields in Brazil. The negotiations are still on-going with no definitive closing date. The election of Messrs. McFadden, Bending, and Taulli are subject to the completion of a definitive agreement between the Company and Juina Mining Corporation. The Company believes that these negotiations should be completed before March 1, 2003.
Other Mining Claims
As previously announced on January 6, 2003, the Company is negotiating to acquire zinc claims in Saskatchewan, Canada. The acquisition of the zinc claims is still in negotiations with no definitive closing date.
Pink Sheet Acquisition
As previously announced on January 6, 2003, the Company is negotiating with a Pink Sheet listed company as an acquisition and merger opportunity. To date, the negotiations are on-going with no definitive closing date.
Acquisition of Jade
On December 30, 2002, the company acquired Fifty Million Dollars ($50,000,000) worth of Ancient Chinese Jade as appraised by Elizabeth Childs-Johnson, from Opal Financial and Development Corporation, for a total of Five Hundred Million Shares (500,000,000) of common stock of the corporation. The company intends to use the Jade for forthcoming exhibitions in conjunction with Casavant Diamonds to promote the Casavant name.
Representative Office in Antwerp, Belgium
As previously announced on December 9, 2002, the Company announced that it was sponsoring a representative office in Antwerp, Belgium. The purpose of the representative office is to promote the "Casavant" brand of diamonds and to assist in the support of worldwide measures to promote "conflict free" diamonds. The representative office is still pending with no definitive operational date.
CMKI Website
As previously announced on December 12, 2002, the Company was launching a website. The website is currently under construction with no definitive operational date.
Share and Cash Dividend Policy
As previously announced on January 7, 2003, the Company approved a mandatory cash and share dividend policy. At the majority shareholders' meeting it was determined that the dividend policy should be reviewed by the newly elected Board of Directors. Until such review has been completed, there will be no mandatory dividend policy in effect.
Exploration Program 2003
As previously announced on December 2, 2002, the Company was negotiating for a drilling rig and proposed a drilling budget of $8,000,000 Cnd or $5,334,000 USD. At the majority shareholders' meeting it was determined that the Exploration Program for the Company's Casavant Mineral Claims in the Fort a la Corne area would require more than one drilling rig. Pending budget approval, the drilling rig and other equipment necessary for the exploration program will be deferred. The Company believes that it will need an exploration budget of $5,000,000 USD in 2003 for the Casavant Mineral Claims in the Fort a la Corne araa. Of this amount $1,807,469 USD are mandated expenditures by the SIR to retain the claims.
The Exploration Program consists of drilling core samples in the Company's Casavant Mineral Claims in the Fort a la Corne area after reviewing historic air and ground exploration efforts by others. Historically, the presence of diamondiferous kimberlite in Saskatchewan was unknown until Monopros, the Canadian subsidiary of De Beers, discovered an exposure of diamondiferous kimberlites in a regional prospecting program in 1987.
In 1988, Uranerz Exploration and Mining located kimberlites in the Fort a la Corne ares 60 kilometers east of Prince Albert, Saskatchewan. The 71 kimberlite bodies were detected after detailed aeromagnetic surveys of the area using the available GSC (1960's era) regional aeromagnetic coverage. The main group of kimberlites is located with the Fort a la Corne Provincial Forest and forms a north-northwest cluster approximately 32 kilometers in length, extending from the Saskatchewan Rive to Highway 55 near Shipman. Smaller outlying kimberlite clusters occur near Weirdale in the West, near Foxford in the north and near Snowden in the northeast. The kimberlite bodies are grouped more densely in the south, and spaced out more irregularly towards the north. A group of very large kimberlite bodies occurs in the southern part of this trend.
During the period 1988 to 2001, Saskatchewan Industry and Resources reports over $59,000,000 in diamond exploration monies being spent by 128 operators. The greatest activity was during 1993 and 1994 with the Snowden south area extension being explored by Cameco De Beers/Kensington JV. Between 1997 and 1999, activities in the major Saskatchewan exploration projects declined. During the same period of time, exploration projects in the Northwest Territories increased due to the discovery of diamondiferous kimberlite bodies.
Neither the Company nor the Casavant Mineral Claims holders have performed kimberlite exploration work on the current properties acquired during the merger. Information on the current properties submitted to the Saskatchewan Industry and Resources by others in fulfillment of assessment requirements may not contain the results of all work actually completed.
Open files at the Saskatchewan Industry and Resources reports 6 aeromagnetic surveys completed within and peripheral to the five properties of interst. Over 90% of the properties were covered by these surveys. The results of the surveys is available from the SIR as paper prints of total contour magnetic field contour maps. In most cases, vertical magnetic gradient contour maps are also available from SIR. The 1990 aeromagnetic surveys indicated broad mag high features which were interpreted as basement-type signatures. The targets were not drilled and the claims were allowed to lapse. The 1993 aeromagnetic surveys had higher quality data set, but was not made available in the public domain in digital form for further processing. However, the contour maps are a useful starting point for further search for subtle anomalies. Ground magnetometer surveys are reported in the SIR Open File with 17 reports and 34 ground mag surveys completed since as early as 1889.
SIR Open Files contain records of 4 prior mineral exploration holes within the Buckshot Holdings Ltd./Commando Holdings Ltd. and 101012190 Saskatchewan Ltd. claims. One hole was drilled by Uranerz in 1992 and the remaining 3 holes were completed by Rhonda Mining in 1993. Other than the 251 drillholes that have been completed on the Fort a la Corne JV kimberlite bodies since 1989, and the 31 drillholes reported to date by Shore Gold at the Star Kimberlite property, an additional 14 exploration holes have been reported by other operators in the vicinity of the 5 properties. Drillhole OFS93-012 in Section 5, Twp 52, Rge 21, W2 (3 kilometers east of Foxford), intersected kimberlite and intercalated sediments in Lower Colorado shales from 179.45 to 211.94 meters. Depth to bedrock was 109.96 meters. The hole ended at 299.0 meters. A 20.77 kilogram sample of kimberlite yielded 3 microdiamonds. Additional kimberlites were intersected by Rhonda Mining Corp. in 1993 with a total of 21 microdiamonds recovered from 100 kilograms of kimberlite at drillhole OFS93-04 (SIR Open File 73H07-0018. However, there were a significant number of drillholes that failed to intersect kimberlites on the 5 properties despite reports filed with the SIR by others of the discovery of diamondniferous kimberlites on peripheral properties.
A 28 page report (not including exhibits) discussing the diamond exploration potential of the five properties was prepared by P. Robertshaw, P. Geo in October 28, 2002 for Fort a la Corne Diamond Fields, Inc. (which is one of the companies acquired by the Company). The full text of this report is attached to this Schedule 14C as an exhibit. The majority shareholders approved a full review of the Robertshaw Report before embarking on the Company's exploration program. It was further noted by the majority shareholders that new magnetic and non-magnetic testing procedures should be reviewed by management in connection with the Casavant Mineral Claims in the Fort a la Corne area as part of their overall review of the Robertshaw Report historical exploration data on file with the SIR."
_________________________________________________________________
Guys, I think we were diluted to beat the band. Rather than roll their sleaves up to go to work everyday putting resources and talent to use exploring these claims, a certain few men now live in mansions in gated communities off our backs. What's funny is the masses somehow think there is nothing wrong with this. Our country is doomed.
The company has GREAT potential as we can CLEARLY see above. Even during the Keystone Cops pr days, you can see this pr and filing as being very serious complete in terms of what the Casavants holdings were at the time.
They have INCREASED their holdings since that time and GEMM s now a producing diamond mine. Unfortunately, prior leadership has diluted the snot out of us and this company, and neglected reporting requirements which now have us on the other end of an SEC suit and before a judge. Further prior management showed no real work or resource effort to seriously explore these claims. They chose the easy route to promote what they had through pr's and wild rumour, only to dilute a world record amount of shares for their profit, most likely hidden in family and friends accounts both here and outside of the country.
Current leadership is my vote to take what I've shown you above and actually WORK to grow this company and these opportunities.
I greatly look forward to that day. As we saw, prior leadership had no intention of doing so.
The holdings of this company as of early 2003 are important for all to see now. It is buried in the 2-3-03 DEF 14c that we find it. : )
Bo
Euthydemus, great post.
This and your other post regarding your response from Pinksheets are by far the best 2 posts for someone to read if they wish to understand how serious this matter is.
There is no way I can add to your post that I'm responding to. It's very well worded, resourced and has a strong basis for the truth of what may occur.
Being a shareholder I really want to see them get through this, but hopefully your post (the one I am responding to) and the one with your e-mail from Pinksheets can get copied and spread to other boards to help those that would rather digest the facts during this serious time. Both posts would be a great reference for anyone interested in the gravity of what lies ahead.
Great stuff Euthydemus,
Bo
VaBlue - you're right.
They admitted in yesterday's pr the July 2003 Form 15 was filed in error.
How much leniency the SEC judge grants given their admission of past wrongs is anyone's guess. The judge may see prior leadership as the problem and not the current executive/legal team.
Bo
Form 15 (July 17, 2003) See below:
Links for some reason work 1 time then get abbreviated. Here is the text, and possible a key piece of evidence. Bo
_________________________________________________________________
United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 15
CERTIFICATION AND NOTICE OF TERMINATION OF REGISTRATION UNDER SECTION 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR SUSPENSION OF DUTY TO FILE REPORTS UNDER SECTIONS 13 AND 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
Commission File Number 000-30551
Casavant Mining Kimberlite International, Inc.
(Exact name of registrant as specified in its charter)
1481 West Warm, Springs Road, Suite 133, Las Vegas, NV 89014(702)946-6747
(Address, including zip code, and telephone number, including area code,
of registrant's principal executive offices)
Common Stock, $.0001 par value
(Title of each class of securities covered by this Form)
None
(Titles of all other classes of securities for which a duty to file reports
under section 13(a) or 15(d) remains)
Please place an X in the box(es) to designate the appropriate rule provisions(s)relied upon to terminate or suspend the duty to file reports:
Rule 12g-4(a)(1)(i) [X]
Rule 12h-3(b)(1)(i) [ ]
Rule 12g-4(a)(1)(ii) [ ]
Rule 12h-3(b)(1)(ii) [ ]
Rule 12g-4(a)(2)(i) [ ]
Rule 12h-3(b)(2)(i) [ ]
Rule 12g-4(a)(2)(ii) [ ]
Rule 12h-3(b)(2)(ii) [ ]
Rule 15d-6 [ ]
Approximate number of holders of record as of the certification or notice date:
300
Pursuant to the requirements of the Securities Exchange Act of 1934, Casavant Mining Kimberlite International, Inc. has caused this certification/notice to be signed on its behalf by the undersigned duly authorized person.
Date: 07/17/03
By:/s/ Urban Casavant
Urban Casavant, President
Instruction: This form is required by Rules 12g-4, 12h-3 and 15d-6 of the General Rules and Regulations under the Securities Exchange Act of 1934. The registrant shall file with the Commission three copies of Form 15, one of which shall be manually signed. It may be signed by an officer of the registrant, by counsel or by any other duly authorized person. The name and title of the person signing the form shall be typed or printed under the signature.
Guys, I GTG but would really appreciate
any answer or insight to my post about the Form 15 filing they made on 7-17-03.
It could be the key piece of evidence to help dismiss the case or not applicable at all. I'm not sure which.
Later all and a great holiday and Easter weekend,
Bo
Susie...
Tell them you just thought of a funny scene in a Charles Bronson movie.
Of course they may think you had mellonballs during lunch, even more so than they do now.
Bo : )
Question:
Please see this link:
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001117768%252D03....
They filed this Form 15 on July 17, 2003 which terminated their registration under Section 12(g) and apparantly relieves them from their duties to report under Section 13 and 15 (d).
Could this be the key piece of evidence which clears their name????????????
or
Was this filing not appropriate at they still had reporting duties?
I honestly don't know, but it sure seems like a key piece of evidence to me.
Bo
Look at this...
I kid you not, this is the last 10QSB filed by CMKX for the period ending Septemeber 30, 2002. I now present to you the entire assets side of the balance sheet....drumroll please:
September 30, 2002
----------------
ASSETS
Cash $ 344
-----------------
Total Assets
$ 344
=============
__________________Are words even needed?_________________________
Here is the share structure at that time:
Common stock, authorized 500,000,000 shares
at $.0001 par value, issued and outstanding
352,223,510 shares and 342,223,510 shares,
respectively.
_________________________________________________________________
They had no revenue.
_________________________________________________________________
Since this is the last Form 10 they put out, that is is very safe to say that during this time in question which involves the SEC's litigation, CMKX was definitely a 'small business issuer'. I'll go as far to say they are the 'smallest business issuer'. lol
Sorry guys, I gave a link for my Pinksheet reference, but it doesn't work.
With that for all to see, I have some questions. Maybe some of you do too after seeing this.
We've been told to go back and look. "It's all in the pr's."
A while back I told you guys I took an entire evening and did that, taking notes. Here's some of the questions and points I have for CMKX in light of the petty cash amount showing as the ENTIRE ASSET BASE in September 2002:
1) $344 in assets in September 2002....yet Urban was to have owned all of these claims in FALC region from years back.
Where are they? Prove EVERY claim CMKX with ownership proof and government documentation listing CMKX as the owner of the land or mineral rights.
2) 11-27-2002 pr (I told you I went back and looked..lol) UC states: "With the infrastructure already in place i.e. roads, utilities, readily available manpower and other resources necessary for mining the diamonds, our company is fiercely competitive on a year-a-round production basis."
I hope no one had food or drink in your mouth when you read this. And yes, the pr actually said 'year-a-round'. lol
The question here is simply, Where??
3) From the 11-27-02 pr, "Our mining costs and specific drilling sites are confidential, as a measure of security to protect our shareholder's interest."
Or was it to keep shareholder's interest while you issued 650 billion shares over the 500 Million you had authorized at the time? Oh, and keeping things secret worked so well CMKX's shareholders are subject to the SEC litigation against your company.
4) December 3, 2002, CMKI announced todaythe hiring of David DeSorneau to implement real time financial reporting and inventory control systems.
"real time financial reporting"...lolol...I'm telling you guys, PLEASE PLEASE do not read these points while eating or drinking. The food spray from the laughter bursts could wreck a PC.
We've sure seen the state of the art reporting mechanisms set in place here...lol. But David enough about us, let's talk about you. How do you think you've performed at your job? Your answer to that question is far more interesting than the reporting and inventory systems you so adeptly developed....(yikes)
5)December 6, 2002 pr, CMKI announced that Dr. Rupert Perrin is added to the board of directors.
Ok, he helped develop early pregnancy tests and seem like a very well known immunologiest (twice nominated for the nobel prize in testing disease in humans and animals) but Urban, do you see any disconnect here? Is he still on the board?
6) On December 16, 2006 CMKX announce they planned to purchase 40% of Dia Bras, which is a small diamond exploration company in Canada.
What is there of value about this purchase today? I looked at Dia Bras's latest SEDAR report which is available on their site. The company has $0 income, "since none of it's properties are at the production stage". The have lost ~$250,000 ytd.
http://www.diabras.com/Financials.htm
7)PR 12-22-02. I swear to God this is how the title reads:
"CASAVANT MINING KIMBERLITE INTERNATION HIRES CHARLES BRONSON FOR FINANCIAL PUBLIC RELATIONS"
You guys now understand the food and drink warnings? : )
In the text of this pr, they state that Howard Bronson was apparently who they meant. CHarLeS bRonSon...I know CB has passed away, but can you see it at the SEC hearing with IBM speaking: "Now we'd like to bring in our (long pause, room dead silent, SEC judge trembling), our FINANCIAL PUBLIC RELATIONS AGENT...Charles Bronson." Bronson busts the doors open and stands there clothed in black and the mustache looking extra pissed off that day. Opposing counsel faints, the judge sweats and whistling music plays in the background.
Charles Bronson...lmaooo!!
I won't even type what they said about Howard Bronson, it's that damn funny and I can't type as it is I'm laughing so hard as it is.
We'll continue this drive down memory lane in future posts, promise. GTG now. I'm glad I found my notes. I haven't laughed this hard about a non laughing matter ever.
Honest to God I was pissed off when I started this post, and now I can't stop LAUGHING!! lolololol
Bo
hash, the company has great potential,
and strong current leadership.
They also are stuck waist deep in prior muck and have a bullseye painted on their chest.
If they get through this, lose the influence of prior leadership (or lose it all together) better days will be ahead beyond that for sure.
The road that lays dead ahead is a very tough one. It's passable, but current management and counsel seem fully aware of the tough job they face. Hopefully they are also able to get the company through this in tact with new leadership, and with the SEC seeing that 50,000 investors also needs protected as well.
BFN,
Bo
Euthydemus,
I meant to comment on yours yesterday but it was busy through the day. I'm going to have to head out for another busy one after this.
Your follow up was excellent. Your post is absolutely key for anyone who wants an understanding of how important the hearing and decision are. If CMKX dropped the ball in such a fundemental way, then I only hope the judge has the foresight to punish the wrongdoers and not the 50,000 shareholders. Allowing it to remain a tradable security with current leadership in place, while punishing or ousting prior leadership which was at fault is one compromise that would be fair.
Thanks for your comments. The only thing I wish to add is that further, the issues the SEC is focued on began their manifestation in 2003 and will likely be pointing a lot of their pleadings and oral arguements to evidence occurring at that time. If that's the case then CMKX being labled a small business issuer then has absolutly no correlation on what the float is today. It wasn't until Feb of 2004 that CMKX authorized a total of 500 billion shares and Aug of 2004 that they increased this to a total of 800 billion.
And again, revenue is used to be a measure a company's strength, product acceptance, growth and market share potential, etc. It is not a factor, (and I have NEVER seen it used), to measure the float. Given that premise if CMKX had revenue of $2,000,000/yr in either 2003, 2004 or 2005 (which I don't believe they had even that high in any one of those years) then we have a 703Billion O/S and we're to believe the float is only 10B????
Respectfully it doesn't wash, not a valid formula and simply moot to the current situation and share structure.
Later all,
Bo
Float vs Sink
The more I'm seeing what is posted on other boards, I'm convinced for thousnads of people this is the first stock investment they've ever made. This holds for even those that are very sharp and many people follow.
That isn't a knock at all. It's good that people explore investment opportunities. But I wake to find are less concerned about the SERIOUS ISSUES which may sink CMKX than they are about 3 words that GB posts and somehow surmises this determines the float.
Growing the company and improving share structure are important, but as the following of this company and certainly posters have done in the past, their expectations are in the orion of space. The posts that feed this continue to be NOT related to real valuation models, real prototcol on how the market works, or simply wrong on facts.
George is sharp. But I sit and see a young man with so much passion for DD and analysis and I'm thinking why doesn't this guy use his energy on finding REAL undervalued stock plays? He would be sensational at it and only get better over time. Others I've seen fit this bill too. It's their choice, I understand that, but it's tiring to see literally thousands looking, paging through and agreeing with three words GB posted, "small business issuer" and thinking the float is 125 billion because of this.
I will copy what GB posted that everyone is holding their breath on:
________________________________________________________________
"General
Reg. §228.10 (Item 10).
(a) Application of Regulation S-B. Regulation S-B is the source of disclosure requirements for "small business issuer" filings under the Securities Act of 1933 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act").
(1) Definition of small business issuer. A small business issuer is defined as a company that meets all of the following criteria:
(i) has revenues of less than $25,000,000;
(ii) is a U.S. or Canadian issuer;
(iii) is not an investment company; and
(iv) if a majority owned subsidiary, the parent corporation is also a small business issuer.
Provided however, that an entity is not a small business issuer if it has a public float (the aggregate market value of the issuer's outstanding securities held by non-affiliates) of $25,000,000 or more."
________________________________________________________________
There is SO MUCH MORE included in the language of Regulation SB. Here is just part of it that he didn't include:
"NOTE:The public float of a reporting company shall be computed by use of the price at which the stock was last sold, or the average of the bid and asked prices of such stock, on a date within 60 days prior to the end of its most recent fiscal year. The public float of a company filing an initial registration statement under the Exchange Act shall be determined as of a date within 60 days of the date the registration statement is filed. In the case of an initial public offering of securities, public float shall be computed on the basis of the number of shares outstanding prior to the offering and the estimated public offering price of the securities."
________________________________________________________________
The he assumed the float is calculated as follows:
25,000,000/.0002 = 125,000,000 Float
Huh?
Where anywhere is the calculation of the float determined by taking the maximum revenue figure stated by Regulation SB and divide it by the ask?
Where anywhere can you determine the float by taking ACTUAL revenue and divide it by the ask (or average of the bid/ask)?
Further, in this erroneous formula (which again has no market/mathmatic/algorythmic/sensible basis) he assumed automatically CMKX has $25,000,000 in annual revenue. For them to be a small business issuer, they have to have LESS than this, up to a maximum of $25,000,000. I'd bet a bottom dollar their revenue during the period of time in question AND/OR now is less than $25,000,000 annually. So applying his formula, does that mean the float is 100B?? 40B??
None of the post erases the o/s level at 703 billion shares, and that the SEC is serious as a heart attack about investigating and making a determination on CMKX.
I understand if many are trying to gleen positives now. But they will come if CMKX emerges from this in tact and with the old leadership ousted and Mr. Maheu in charge. Then we can talk about value and the float until we're blue in the face.
For now, instead of many holding hopes on erroneous formulas about the float we should be focused on questioning the company on whether they are soon to sink via a SEC judge. Euthydemus made an EXCELLENT post yesterday concerning his contact with Pinksheets that we cannot ignore.
We have to get through this. It will be very tough, but doable with the right leadership and counsel stradegy. We have to not sink before we 'float'.
Bo
fung, zen's post states the exact opposite of
what you stated.
Where in zen's post did he state CMKX should withhold information?
He said the opposite. If the hearing protocol allows or if it's requested by the judge, it would be a good thing IF THEY DID disclose their claims and holdings at that time, even if the information is partially raw data.
Further if they are releasing information outside of the hearing then it would indeed be wise to confer with the SEC or other governing authorities before or while doing so to show CMKX's full intent to be compliant.
Bo
Key quotes:
"If the Commission were to suspend or revoke CMKX's registration under the Exchange Act, CMKX would be considered a non-reporting company and would continue to trade on the Pink Sheets. In this event, CMKX intends to provide material information to the public, when available, through press releases and postings to its website.
Casavant went on to say, "We are committed to pursuing the corporate cleanup required to allow us to provide periodic reports to our stockholders; however, in the event the SEC determines that a suspension or revocation is in order, then aside from our compliance with such order, we will utilize our best efforts to provide minimum basic information to our stockholders, allowing for CMKX to continue trading on the Pink Sheets."
Although CMKX currently anticipates being able to continue to trade on the Pink Sheets regardless of the outcome of the administrative proceeding, it is unclear at this point if the Commission will take further action in an attempt to prevent the trading of CMKX's common stock on the Pink Sheets or any other medium."
_________________________________________________________________
Again, it is very good that Mr. Maheu is on board. He and his team of attorneys certainly have a good grasp of a checkered past prior to his involvement.
My past posts stated 4 things which I believe are the 'high level' dynamics here. The first 2 dealt with past wrongs. The current actions are to correct those so to move on to face the future with new leadership and to actually run the company by investing in work, talent and resouces to grow it.
The 2 past issues were questionable MM practices and the other was questionable management practices. I'll say again as I did before, both may well have been in the wrong. What we are seeing now is dealing with issues of leadership prior to Maheu.
People have mentioned VWAP trading. In researching this further, respectfully I'm not convinced of what jay_adobe was posting about VWAP. I am 100% certain there are programs that follow each tick and it's individual VWAP. VWAP is nothing more than a technical analysis measure. It's not the price of the trade itself. VWAP measures weighted average price and is a tool for traders using technical analysis to determine if the price they bought in at is favorable. For example, if the VWAP that day is greater than the price they bought in at then that is a good indicator for a pps rise. In a nut VWAP is a calculation, nothing more, nothing less. Professional traders use these analyses to judge the strength of a price level all the time. Institutional traders and MM's use them as well. Institutions that need to break a trade into multiple transactions do so to maintain order to the prevailing price. If any stocks price was listed based on VWAP, stock prices would be all over the place almost every tick.
For example, a large order can be executed over multiple days, staying at 10% of volume per day (or whatever set percentage range), allowing participation in market activity while attempting to avoid negative price impact.
In sum with today's pr, it's another example of 'out with the bad - in with the good'. It will take some time for that. After which, the focus can fully go back to growing the company and improving share structure.
Bo
chwd...
Of course I did. That's why I posted it.
I sourced it from pb32 which has a good reputation. It did not state it was a direct post from RB. I don't read RB. No one who is serious about investing does on any regular basis.
It turned out to be false. Upon knowing this, I immediately deleted the posts and apologized.
Nite all,
Bo
I will delete them.
I saw, copied, and pasted.
Sorry guys.
Bo
ATPL DD
Let's forget the 12.50/shr dividend announcement yesterday for a second. I contend even without this dividend announcement, this stock is undervalued.
Now let's throw the $12.50 divy announcement back in, and you have a big-time big board opportunity here on 2 fronts: Share price appreciation on the anticipation of April 1st coming & the sweet dividend on that date.
I called the CFO of ATPL today. Paul Saari confirmed the float to be around 3.5 - 4 million shares.
They do plan to pay the dividend for shareholders of record on April 1, 2005.
The reason for doing so was to reward long time shareholders of record and certainly to get the market's attention to their valuation. Of course he could not comment directly on whether he felt his own stock was undervalued. I certainly stated to him I believed that it was. He said based on the press and interest now in the stock, others will be taking a closer look at the company, so the $12.50 per share dividend pr is serving it's purpose. They are a company totally focused on revenue growth and improving the bottom line.
As I stated above, as an officer of the company he can't come out and state ATPL is undervalued even minus the divy announcement. However let me try to explain why I see that it has great upside.
In big board analysis, a comparison with like companies within an industry is the best illustrator of value disscusion.
ATPL is 1 of 28 stocks comprising the Dow Jones Commodity Chemical Industry Index. The stocks are GLOBAL COMPANIES, not just a list of US chemical firms. Of course there are more than 28 chemical stocks in the world and trading on the American Exchanges, it's just this list of 28 makes up this Index. ATPL is on it.
With that, I took 2 companies from this list which have the same general revenue base. Selecting companies like DOW, DD or BAY make no sense because they do not compare in terms of size or earnings with ATPL. The last company I researched is not part of the Index, but a plastics company who's fundementals match ATPL very closely.
My contention is that ATPL's Market Cap is WAY LOW in comparison with stocks in the DJ Com Chem Index of the same size and another comparable company, ENTG.
Company.......Mkt Cap.......Annual Rev........EPS
ATPL.........$132 Mil......$348 Mil..........$1.49
DAR..........$246 Mil......$324 Mil..........$0.22
LNDC.........$177 Mil......$192 Mil..........$0.17
ENTG.........$732 Mil......$374 Mil..........$0.37
DAR's Mkt Cap/Revenue ratio = .76
ATPL's Mkt Cap/Revenue ratio = .38 (ATPL's eps is 7 times better)
LNDC's Mkt Cap/Revenue ratio = .92
ATPL Mkt Cap/Revenue ratio = .38 (ATPL's eps is 8.5 times better)
ENTG's Mkt Cap/Revenue ratio = 1.95
ATPL's Mkt Cap/Revenue ratio = .38 (ATPL's eps is 4 times better)
_________________________________________________________________
EVEN ABSENT THE DIVIDEND ANNOUNCEMENT I believe ATPL is greatly undervalued. Their market cap should be much higher. Their performance reflects this.
Add a $12.50 dividend and 4 million float on top of this, I believe this next week will be very interesting. Their pr was certainly effective and they now have the market's attention. Look at their historical average daily volume, then look at their volume today.
Bo
prospector,
If Ameritrade is being told this is the reason...that's simply bunk, crapola, duckdung. Pick a term.
I'm a big market guy (and more important DD later today about ATPL...at work now so have to type this fast), so if I'm missing something here about the current CMKX issue, I'm all ears and will be the first to say I learned something new today. But......
"Behind in their filings" ????? Huh?????
This goes back to what I've posted recently:
IN 2003, IF CMKX WAS APPROVED OR ACCEPTED BY GOVERNING AUTHORITIES TO BE A NON-REPORTING COMPANY TO BE TRADED ON THE PINKSHEETS, THEN HOW IN HELL'S HALLWAY CAN THEIR BE A DELAY IN REPORTING?????
UNLESS THERE IS SOMETHING I'M MISSING...A PINKSHEET COMPANY I S...N O T...R E Q U I R E D...T O...R E P O R T...S O...H O W...C A N...T H E R E...B E...A...D E L A Y ?? !!
Based on this and not knowing any other information, they have no case and this is a cover-up to cover. Call it the 'Cover To Cover Caper'.
Later,
Bo
PS ATPL is very undervalued. ELTK ; )
ELTK & ATPL
ELTK called 2 weeks ago at $1.61 when volume was nil. It's one of NASDAQ's biggest pre-market traded stock this morning.
ATPL called last night. Yesterday's close $18.01. Up big in pre-market.
Good humpday all!!
Bo
ATPL - Closed @ 18.01 today. The moon is in sight tomorrow.
They have 5.6 million o/s. They reported $347,000,000 in sales last year and a continued positive net income. (EPS $1.42!)
http://cbs.marketwatch.com/tools/quotes/quotes.asp?symb=atpl&vc=0&siteid=mktw&dist=dropm....
Because of today's afterhour's news, this thing will run like a wildfire tomorrow. And as shares dry up as people hold them April 8th could get reeeal interesting. Here is their afterhours news:
Atlantis Plastics Announces Delaware Reincorporation and Special Cash Dividend
3/22/2005 4:22:02 PM
ATLANTA, Mar 22, 2005 (BUSINESS WIRE) -- Atlantis Plastics, Inc. (ATPL) today announced that it has changed its state of incorporation from Florida to Delaware pursuant to the approval of its shareholders at a special meeting held on March 15, 2005. Atlantis also announced that its Board of Directors declared on March 22, 2005, a special, one-time cash dividend of $12.50 per common share, payable April 8, 2005, to shareholders of record as of April 1, 2005.
Earl W. Powell, Chairman of Atlantis stated that: "The Board is pleased with all of the positive developments occurring at the Company. Our decision to complete the financing and pay the special dividend is a great result for the Company and its shareholders, and we look forward to the Company's continued success."
About Atlantis
Atlantis Plastics, Inc. is a leading U.S. manufacturers of high quality specialty plastic films and custom molded and extruded plastic products used for storage and transportation, food service, appliance, automotive, commercial and consumer applications. Stretch films are used to wrap pallets of materials for shipping or storage. Custom films are made-to-order specialty film products used in the industrial and packaging markets. Atlantis' injection molded and profile extruded plastic products are used primarily in the appliance, automotive, agricultural, building supply, and recreational vehicle industries.
SOURCE: Atlantis Plastics, Inc.
Janice,
I saw you mention BOOM and your interest in them in the late 90's. WOW is the only word to say about their movement in 2005.
I've looked at MRKL this afternoon up one side and down the other. It appears way undervalued. If you followed BOOM whose business focuses on defense oriented products and services in the field of anti-explosive metals, then what is your take on the following? It's MRKL's business plan laid out earlier this month by their president. It seems they are certainly on the right path and a very fast track to high revenues...and right now very oversold. Their 6 month revenues exceeds BOOM currently. BOOM's o/s is 5.1M vs MRKL ~100 million. Just thought you insight into the baby-BOOM era (I couldn't resist) would be beneficial here.
Thanks, Bo
_________________________________________________________________
Markland Technologies Announces Business Status Update
FRIDAY, MARCH 04, 2005 8:00 AM
- BusinessWire
RIDGEFIELD, Conn., Mar 4, 2005 (BUSINESS WIRE) --
Significant Corporate Achievements Made Since June 2004 Create Robust Revenue Streams and Strong Future Growth Opportunities In DOD and Homeland Security Marketplace
Markland Technologies, Inc. (MRKL) , a defense and homeland security company transforming advanced laboratory technology into real-world products, has announced a business status update.
Robert Tarini, CEO and Chairman stated, "I am extremely pleased by the fact that we have made numerous significant achievements in growing the Markland revenue base and creating strong future growth opportunities in a very short period of time. Our results have occurred so quickly and in such a dynamic fashion that it is important for us to reflect upon our accomplishments and take the time to appreciate the efforts made to date by our entire Markland workforce. To that end we provide this status update and a list of significant accomplishments made since June 2004."
A list of significant accomplishments made since June 2004 and up to date corporate status items is as follows:
-- Acquisition of EOIR Technologies Inc in June 2004 providing Markland with a suite of highly innovative remote sensing technologies, established revenue streams in DOD and Homeland Security applications, and a highly skilled workforce.
-- Record Six Month Revenues as of December 31, 2004 of
$32,814,528 versus prior year six month revenues of
$3,563,495; an 821% increase.
-- Net cash provided by operating activities for the six months ended December 31, 2004 of positive $194,896 versus prior year six month negative net operating cash flow of $884,314. A
significant improvement of over $1M in year over year results.
-- Enhanced financial stability; approximately $50M in present
funded backlog of goods and services and a cash balance of
approximately $5.7M as of December 31, 2004.
-- Acquisition of majority ownership of public company Technest
Holdings Inc in February 2005 with a present market
capitalization of approximately $50M and its subsequent
acquisition of Homeland Security company Genex Technologies
Inc. (www.genextech.com) with expertise and industry
leadership in 3D surveillance and facial recognition
technologies.
-- Funded high profile research programs in the strategic areas
of: explosives detection, suicide bomber detection, disposable
sensors, chemical detection and facial recognition.
-- Formation of a highly skilled and focused workforce of over
225 employees and a strategic initiatives business plan for
2005 which incorporates the following:
Strategic Initiative 1 -- Continue to solidify Markland as a strong niche player in the DOD/Homeland Security arena via organic growth.
Strategic Initiative 2 -- Continue to pursue focused acquisitions of synergistic, revenue-producing assets:
Strategic Initiative 3 -- Partner with established industry players on key, large-scale government contract programs:
Strategic Initiative 4 -- Incubate and commercialize emerging technologies:
Robert Tarini in closing stated, "We have a fabulous workforce and a focused business plan, dedicated and loyal customers and very attractive market opportunities. We will endeavor to take full advantage of all the opportunities in front of us to grow the company, improve profitability and enhance shareholder value. We have made significant accomplishments in the last 8 months and believe that these trends will continue. I am extremely happy to be a part of this exciting business venture and hope to be able to report on additional strategic achievements in the near future."
About Markland Technologies
Markland Technologies, Inc. is committed to setting next-generation standards in defense and security through the provision of innovative emerging technologies and expert services. The Company is engaged in the identification of advanced technologies currently under development in laboratories, universities and in private industry, and in the transformation of those technologies into next-generation products. Markland's solutions support military, law enforcement and homeland security personnel to protect the nation's citizens, borders and critical infrastructure assets from the threat of terrorism and other dangers. Through strategic development, Markland focuses on the creation of dual-use technology and products with applications in both the defense market and civilian homeland security and law enforcement fields. The Company is a Board Member of the Homeland Security Industries Association, and is a featured Company on HomelandDefenseStocks.com; additional details can be viewed at: http://www.homelanddefensestocks.com/Companies/MarklandTech
Good one R-Breaker!
I'm glad GAXY moved nice for you today and hope it keeps trending up.
Bo
MRKL - .26
The company has revenue over $32,000,000 for 6 months, greater than Sirius Radio. It's bottom line is (9 million) vs SIRI (280 million). I estimate MRKL's o/s between 90-125 million.
I'm not a chart reader but as a novice looking at their chart, my view is this company is at it's lowest levels in over 1 year and down 50% from just 1 month ago. This in spite of their sales and growth potential at an all-time high!
Their news alone on March 9, 2005 sweetens their fiscal year revenues even more:
http://bigcharts.marketwatch.com/news/articles.asp?guid={9FC1222D-EE4A-402D-8F76-38EACF0C331B}&n....
I thought they were cheap at .80
All IMO, but I see serious upside here.
Bo
ELTK - $3.52 and moving.
ELTK vs BOOM
ELTK's o/s......5.4 million
BOOM's o/s......5.1 million
BOOM & ELTK are an outstanding companies. On November 11, 2004, BOOM posted their 3rd quarter numbers and they've never looked back since.
Here's BOOM's 11-11-04 news:
http://bigcharts.marketwatch.com/news/articles.asp?guid={671D92E3-BCAD-48C1-8073-6AC2E8FB131A}&n....
Notice the volume for BOOM from that day forward. It hit like a train and it's done nothing but get better. Their current pps is 37.65 and rising!.
My friends, the balance sheet for ELTK and BOOM mirror each other in many ways. For the 9 months ending Sept 30th 2004, I quote from BOOM's November 11, 2004 pr:
"For the nine months ended September 30, 2004, DMC reported net income of $537,130.."
ELTK's net income for the 4th quarter in 2004 was $446,000!
Their revenues are both impressive. ELTK's market cap is still only 50% of it's current annual revenue and 1/10th of BOOM's current day market cap!
They both have great cutting edge products. As I say, their balance sheets mirror each other in many ways.
The important thing is their o/s totals do too.
Bo
ELTK...see today's ticker & see below
Posted by: Bo14172
In reply to: None Date:3/4/2005 1:10:16 PM
Post #of 36831
ELTK, Sleeper Du Jour.
ELTK vs SIRI
ELTK @ $1.61............ELTK's O/S = 5.49 million shares!
SIRI @ $5.74............SIRI's O/S = 1.26 BILLION shares!
_________________________________________________________________
Revenue for the 3 previous reported quarters:
1-1-04 to 9-30-04
ELTK - $20.1 million
SIRI - $42 million
_________________________________________________________________
Net loss from 1-1-04 to 9-30-04:
ELTK - ($1.7 million)- an 20% improvement over 2003
SIRI - ($450 million) - worse than 2003.
_________________________________________________________________
SIRI's o/s is TWO HUNDRED AND FORTY times the size of ELTK. 240!
So let's project ELTK's market value here...
First, note ELTK is trading at a market cap WELL under their annual revenue base. It's safe to assume ELTK's annual 2004 revenues will come b/w $25 million-$30 million, and pushing closer to break even.
I'm going to show conservatively what ELTK's market value should be by using SIRI's share price, known fundementals shown above and market emotion.
Siri is at 5.74. ELTK's revenue is 47% less than SIRI's. Thus based on this fundemental factor, if SIRI had the same revenue as ELTK, we could expect the price to be $2.69/share with their current 1.26B o/s.
Let's get serious about making this a conservative valuation. Some would say, 'ok Bo, but you know as well as I that SIRI is a market darling and it's price is largely based on that'. My response is 'Absolutely true, I couldn't agree more'.
So for valuation purposes here let's take out 99% from the price, you read that right, reducing the $2.69/share by 99% which we'll attribute to SIRI's popularity. Let's all agree that this is a maximum amount and certainly going 'overboard conservative', but were going to do it. $2.69/share x removing any and all exposure, interest and popularity (.01) = .0269/share.
We can say then, SIRI's price with all the above characteristics of ELTK factored in and SIRI's current 1.26B o/s level is .0269/share.
So in reality, to translate ELTK's price in relation to SIRI:
.0269 x 240 = $6.45/share
The 240 is how many times larger SIRI's o/s is in relation to ELTK.
The above was using 2 confirmed fundemantel factors (revenue and o/s) and 1 ultra-consertative market emotion factor to arrive at this price.
Oh yea, I'm sure you noticed I didn't even include the fact that SIRI's bottom line is 264 times worse than ELTK in my valuation.
In sum ELTK has a very low float, move strong on light volume and currenty is undervalued. You only have to look as far as the market cap versus revenue stream as well as considering the above. Look at SIRI's and other companies ratio, then look at ELTK's ratio. I see upside here.
Bo
Downunder, in most situations stocks in
these smaller markets exhibit similar patterns of movement, b/a spreads and retreats. It's almost like MM's have given many stocks at this level their own personality.
For NMCX if there has been no dilution since their last good news events then I would say they are certainly undervalued and there is upside here.
Two factors play into this. First is the value confirmation that the market may be seeking so the market can truly trust the figures NMCX reported a few months back. Second is something I mentioned yesterday on another board (about another stock). If their is a shorting effort (legal shorting) by MM's or connected hedge funds, they have to let stocks run at some point in order to establish new shorting positions and begin artificial walkdowns again (not legal). The stock has to go up for money to be made on the way back down. Being that we're 'long' investors both factors may present an opportunity if any future news is good.
We saw it rise to ~.045 before. At current levels, both dynmaics above may come into play again.
Bo
skib, good to see you buddy. : )
Good play Resistance Breaker.
GAXY, CGHI, GEMM and NMCX all have very strong news, but it seems that mining stocks have an artificial resistance in place (not sure if it is a shorting effort, or an effort from competeting players) that no matter how strong the news it seems they are a tough nut to move and sustain a higher base.
GAXY seems like it has a good end of the month potential for all the reason's you mention. Good volume today, but movement was painfully slow upward.
Here's hoping a good gap and run for you and more to come the rest of the month.
Bo