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Press Release Source: PayChest, Inc.
PayChest Is in Active Negotiations to Acquire Oil and Gas Deal
Friday June 16, 12:30 pm ET
MEXICO CITY--(MARKET WIRE)--Jun 16, 2006 -- PayChest, Inc. (Other OTC:PYCT.PK - News) is glad to announce that it is actively seeking to acquire oil and gas acquisitions. PayChest would like to update its investors as to the status of the PayChest, Inc. project. Due to difficulties with U.S. banking partners, PayChest, Inc. has had to rethink its method of handling the companies 3rd party billing system. PayChest, Inc. will be meeting with Singapore-based consultants to negotiate a contract with Asian banks to set up the merchant side of the business and to have 21 Chinese banks recommend PayChest, Inc. as their preferred 3rd party payment system. We're also working with major banks in Germany and Israel. We would like to express that good things always take time and that we are solidifying our banking relationships. PayChest, Inc. has been trying to acquire the best rates for the U.S. market and trying to compete with the great Google. After carefully analyzing the market we realize that the PayChest, Inc. niche market is not going to be in the U.S. market. It's going to be to accommodate the Asian market, primarily red china and Latin America and ROW. Statistics show that China will move about 113 billion dollars out of the country via the 3rd party online payment vehicle model like PayChest, Inc. and Paypal. All of our customers will have the ability to top off their account via credit card and/or send out a wire.
ADVERTISEMENT
Oil and gas has reached an all time high. America and the world is addicted to petroleum. We're seeking to build our energy portfolio with oil and gas acquisitions and we feel the market has reached a very stable and liquid time for this new acquisition; also to balance out dual revenue streams between PayChest, Inc. and oil and gas acquisitions of the future.
About PayChest, Inc.
Founded in 2005, PayChest, Inc. has developed a proprietary and secure back end payment processing system that can easily be accessed and utilized by anyone with web access and an e-mail address in any country around the world. PayChest, Inc. has developed a processing system that leverages the existing financial infrastructure of the global banking community and/or credit card companies to enable consumers and business owners located in every corner of the world to securely send, receive and/or process payments with others via the company's Web site. The company's payment processing system operates in real time and incorporates a user interface that is designed to be convenient for any user and does not require any technical know-how to send and receive payments. For more information please contact Alejandro Cerda, CEO, Gavillero 32, Residencial Coapa, Tlalpan, 14390, Mexico D.F., Mexico Phone: +(5255) 5574.4454 e-mail: alexcerda@yahoo.com, lexcerur@gmail.com
This release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the company's current views with respect to future events that involve risks and uncertainties including uncertainties related to successful negotiations with other parties, closing of transactions, capital availability, operational and other risks, uncertainties and factors described from time to time in the company's publicly available SEC reports. In light of these risks and uncertainties, the forward-looking events described in this release might not occur.
Contact:
For more information please contact:
Alejandro Cerda
CEO
Gavillero 32, Residencial Coapa,
Tlalpan, 14390,
Mexico D.F., Mexico
Phone: +(5255) 5574.4454
e-mail: alexcerda@yahoo.com
lexcerur@gmail.com
--------------------------------------------------------------------------------
Source: PayChest, Inc.
Paychest Inc AND Forex" or "FX" market
The Foreign Exchange market, also referred to as the "Forex" or "FX" market is the largest financial market in the world, with a daily average turnover of US$1.9 trillion -- 30 times larger than the combined volume of all U.S. equity markets.
"Foreign Exchange" is the simultaneous buying of one currency and selling of another. Currencies are traded in pairs, for example Euro/US Dollar (EUR/USD) or US Dollar/Japanese Yen (USD/JPY).
PayChest Internet Payment System (IPS) is a one of a kind 3rd party payment system.
PayChest is completely secure using techniques to encrypt the client's personal and financial information including encrypting the client's credit/debit cards as well as bank account numbers for total security.
PayChest IPS DOES NOT utilize a competitors payment gateway to send or receive funds. After all, what's the point if members still have to use PayPal, StormPay or 2checkout to send, deposit or withdraw funds.
Features
2Checkout/iBill type of buyer checkout. This feature allows for the buyer to purchase the seller's product without having to sign-up for an account. Works similar to 2checkout or iBill checkouts
Send payments in multiple currencies such as Euro, British Pounds, Chinese Yuan and much more.
NSS was never one of those concerns.
NSS WAS ALWAYS THE CONCERN!
CMKX Cert Pull
The preferred method for receiving your certs is by mail. To send your certs via mail. Click Here
Fax Numbers
Fax #1 903-595-5724
Fax #2 903-595-5394
Document Requires Adobe Reader
Patrick Byrne
Founder and President of Overstock.com
A simple and animated look at the problem of “Failures to Deliver” in the marketplace.
Part 1
Part 2
Part 3
Part 4
Here's a link to an article where they are essentially proving that SHO didn't work and it provided further abuse and substantial loss to the investing public becuase of their "grandfather clause"
It's long but it's a very good read.
http://www.investigatethesec.com/20060531CM.doc
STOCKGATE TODAY
An online newspaper reporting the issues of Securities Fraud
FOIA Data Provides Insight on SEC’s Misrepresentation of Facts; Market Manipulation Continues – May 28, 2006
David Patch
In November 2005 I documented the odd trading patterns I witnessed in a small Jackson Mississippi egg farm called Cal-Maine (NASDAQ: CALM). Cal-Maine had caught my interests based on the steady decline of the stock share value during a period in which the stock was listed under Regulation SHO as containing a large percentage of settlement failures. With large buy-side demand to cover fails in the system, and with heavy volumes, I could not understand how the stock could continue to trade down in value day in and day out.
What I noticed, and reported to both the NASD and SEC, was that the stock had appeared to be experiencing a classic “bear raid” by the very Wall Street participants we entrust to protect our financial portfolios.
The stock, which was trading at $12.00/share in December 04 /January 05, was trading at less than half that value simply 5 months later under tremendous sell side pressure. During this period in time the stock was listed under Regulation SHO as a threshold security and the reported short interest in the stock had reduced from nearly 85% of the public float to merely 28%.
Looking closer at the data, Cal-Maine was experiencing a pattern where stock valuation, short position, and trading volume were all trading in an exact parallel. They were all moving down in sync with one another as if there was a relationship between the three.
The argument I made in November 05 was that Wall Street was manufacturing volume to drive investors out of the stock to allow the fails to deliver to cover under a panicked market and thus to cover for profit. Effectively, Wall Street was manipulating the stock to protect the self-interests of proprietary house and client accounts that were liable for the prior executed trade failure.
To prove this argument I needed one last point of evidence and that arrived this past week as the SEC provided the aggregate continuous net settlement failures for Cal-Maine under the Freedom of Information Act.
Before I inform you of the results understand that by this time the SEC has publicly stated that Regulation SHO was a success. The SEC claims that the number of failures to deliver, as reported by the DTCC Continuous Net settlement (CNS) report, was being reduced which was the intent of Regulation SHO. The SEC also identifying that the success was being recognized in that the “grandfather clause” that was introduced to mitigate market volatilities associated with short squeezes had also been successful. No short squeezes were occurring.
The question that remained was, was the SHO success simply smoke and mirrors? Had the SEC drafted law that forced the industry to respond with additional market abuses to cover up the fraud the SEC grandfathered under Regulation SHO?
If you believe the data provided by the SEC under a FOIA request, the answer is yes. Yes SHO reduced the potential for short squeezes that would impact those that sold shares that did not exist but, instead of investor protection the SEC carefully watched as “Bear Raids” of downside volatility were being used to maintain financial stability of Wall Street institutions, hedge funds, and the short seller.
On January 10, 2005 the NASDAQ reported a short interest in Cal-Maine of 8.5 Million shares. With a public float of 10.5 Million shares this represents 85% of the public float as being shorted. But what was not being shared with the investing public was that 2.5 Million shares, nearly 30% of the total short position had been categorized as a fail to deliver.
Wall Street had allowed 25% of the public float to be sold off shares that did not exist. Shares sold Naked Short.
Under Regulation SHO, these 2.5 Million fails to deliver would be grandfathered from any specified time limits regarding mandatory close-out because the SEC feared a “short squeeze” would transpire due to the excessive forced buying volume. These fails to deliver would however have to be reduced.
With the stock trading at $12.00/share, an 85% short position, and a 25% fail to deliver margin, the stock began trading heavy volumes in 2005. January 05 averaged 425,000 shares daily in trade volume.
By February 05 the stock was now trading down and by the next NASDAQ short report on February 10 2005 the stock was at $10.00/share and held a short interest of only 7.3 Million shares. As for the CNS data recorded at the DTCC, the FTD’s had been reduced to 1.5 million shares from the previous number of 2.5 Million FTD’s. The number of short positions and fails to deliver matched up perfectly and fortunately for the seller of those FTD’s the stock had depreciated by 17%.
If you calculate using averages, the 1 million FTD’s that was cleared from the Cal-Maine’s market was done so at an average profit of $1.00/share. The news is great for the client holding the short interest but bad for the long shareholder now writing off a loss.
By May 05 the data continued to trend as expected. On May 10, 2005 the reported short interest in Cal-Maine had been reduced to 2.8 Million shares, the reported FTD’s had been reduced to 1.2 Million shares, and the stock valuation was now merely $6.80. The April trading volume that led to the May short report had been reduced to an average trade volume of 224,000 shares.
Somehow, the market in Cal-Maine had traded down 43% at a time where short coverings were being required to close out the excessive fails in the system. With each month that was passing, the stock price, reported short position, reported FTD’s, and average trade volumes were all moving in the same direction – Down!
To understand how this works, consider that it takes liquidity to close out a fail if there is no real market of sellers out there to sell into your needed purchase. Those firms holding the FTD on the books do not want to have to buy into the market to close out the fail, but instead wish to have a seller come to them which allows for profitability and eliminates any potential for a short squeeze that would put the remaining FTD’s held on their books into margin call jeopardy.
Fast forward now to August 10, 2005, the stock was now trading at $6.19 after dipping into the $5.70 - $5.80 range during the months of June and July. The reported short position in August was now 1.7 Million shares. The 85% short interest in January had been reduced to a 17% short in August.
By similarity, the FTD’s reported for August 10, 2005 was now only 311,000 shares. And to follow suit, the average trading volume that was leading in to these reported numbers had been reduced to an average of only127,000 shares/day.
For Cal-Maine, the reported short position was reduced by 80%, the reported FTD’s was reduced by 87%, and the average daily trade volume was reduced by 70%. For all that, the stock was now trading at 50% of the value it was just 8 months 7 months previously.
Cal-Maine eventually came off the Regulation SHO list in September 05 after those that initially manipulated the stock had cleared away. Once Cal-Maine did come off the list the volume all but dried up completely as wall street no longer needed to work the stock to clear their profits. By October 05 the average daily trading volume in Cal-Maine represented a paltry 75,000 shares/day.
The conclusions of this analysis are that Regulation SHO is not the success that the Commission touts it to be. By creating the grandfather clause into the rule, the SEC forced the Institutions to take drastic measures to eradicate the fails that had previously generated off illegal trades and to do so for a profit, Wall Street was forced to manipulate the value of securities.
In the case of Cal-Maine, Wall Street introduced sell side liquidity into the market driving stock valuations lower and lower and driving investors out of the stock. In January 2005 there were investor portfolio’s that contained an aggregate total of 32 Million shares (23.5M Outstanding and 8.5 Million reported shorts) for a market value of $384 Million. But by September that number was 24.5 Million shares and a market value of only $147 Million.
The manipulated covering of these FTD’s aided in a loss of $240 Million in investor holdings.
To illustrate this liquidity raid further, consider critical data points from the SEC. On February 18, 2005 the stock had closed at $9.88 and had a FTD of 1.44 Million shares. The next trade day say 856K shares trade as the stock traded down $0.50 to $9.30. But the settlement of these trades executed showed up 3 days later at 1.1 million FTD’s. Over 1/3 of the volume recorded that day was buy-side settlements and yet the market traded down 6% on no news.
I this case, I believe evidence will show the market makers created an early panic in the stock by naked shorting additional shares and then covering those initial trades as well as a significant amount of earlier fails during the panicked selloff.
But this was not the only example where logic leads to manipulative activities.
Take for example March 2, 2005. At the close of business on March 2 the stock was listed as trading at $10.11. The reported fails at that time was 1.26 Million shares. The next day the stock was trading down to $9.84 on light volume of 177,000 shares. But review of the trade settlement data for the T+3 for that day the FTD’s had increased from 1.26 Million to 1.4 Million shares. An increase of approx 160,000 FTD’s on a trade day that traded only 177,000 shares with the stock trading down 3% for the day.
As with the example earlier, episodes of manipulation of this type riddle the recoded analysis of Cal-Maine.
In February 2005 the NY Times ran a story by Floyd Norris on Regulation SHO. In that story Norris quoted then Director of Market regulation Annette Nazareth as stating that investors claiming SHO was inadequate where simply whining that there stock prices did not go up with the new law. Today, the data obtained out of the SEC call easily dispute these claims as those that claimed SHO was a farce can now show the proof.
The SEC bailed out the past occurrences of fraud by providing the industry with a get out of jail free card on past settlement failures. The stipulation, clean them up. How they cleaned them up was as disturbing as the clause itself. Wall Street manipulated the markets in stocks to drive investors out in an opportunity to cover the failures at a profit.
Today Annette Nazareth sits as a Commissioner on the staff of the SEC. As part of the rule making process Ms. Nazareth has taken this issue of market abuses and insured that the rights and protections of the Institutions is put before the rights of the investing public. She does so in violation of the oath taken as Commissioner and in violation of federal Laws as defined by the Exchange act of 1934.
Market manipulation is a violation punishable by both civil and criminal means. Those aiding and abetting such violations are equally subject to such punishments. The data recently obtained from the SEC under the Freedom of Information act validates the concerns so many have Investors have spoken of for decades. To continue to deny the investors the rights to a fair market places the Commission staff on a train leading to possible violations of aiding and abetting fraud.
Wall Street attempted to destroy Cal-Maine and the financial security of the investors putting their savings and retirements in this company. Wall Street did so out of greed and for higher executive compensations. But Wall Street has not stopped with Cal-Maine. It is systemic and the SEC must stop this abusive practice or explain to a federal committee why they should not be prosecuted for aiding and abetting such crimes against our nation.
For more on this issue please visit the Host site at www.investigatethesec.com .
Copyright 2006
It's getting HOT in HERE!
StockGate: Long ‘Censoring Arm’ of the Depository Trust Once Again Reaches Out, This Time To Halt CFA Society Event in Los Angeles
June 5, 2006 (FinancialWire) The Depository Trust and Clearing Corp. has once again extended its long arm of censorship, this time to “postpone” a panel discussion that had been scheduled tomorrow by the CFA Society of Los Angeles on the subject, “Exposing Systematic Fraud in The Stock Market.'' Such actions by the DTCC are no longer unexpected.
The panel had included Dr. Patrick Byrne, CEO of Overstock.com (NASDAQ: OSTK), one of numerous companies, such as Martha Stewart Living Omnimedia (NYSE: MSO), Global Crossing (NASDAQ: GLBC), and Antigentics (NASDAQ: AGEN), that have been on the “Regulation SHO” list for more than 200 days.
The “postponement,” at http://www.cfala.org/cfmfiles/cal/eventlist2.cfm?id=632&t=g&d=Z , is reportedly due to DTCC’s complaint that despite having been invited over a month ago, it could not get a “representative” to the event to counter any allegations.
The organization’s announcement had noted that the panel discussion and luncheon on June 6 offerered “a rare look into stock trading practices known as concerted failure-to-deliver (FTD) and naked short selling (NSS). By law, ‘short sellers’ are required to borrow and deliver the shares sold short within three days of sale. But reports indicate naked short selling may be widespread. DTCC allows electronic entry of shares in buyers' accounts despite sellers' failure to deliver.
“Dr. Patrick Byrne, CEO of NASDAQ-traded Overstock.com, will discuss his firm's buffeting by trading of "shares" that appear to outnumber those officially issued and outstanding. In March at a New York conference, Byrne named a dozen large brokerages with clients who claim several million more OSTK shares than the number held by the brokerages at DTCC.
“Dr. Susanne Trimbath, a Santa Monica research economist with operations management experience in clearing and settlement of trades at DTCC, will illuminate current trading practices.
“Portfolio manager and financial writer Arne Alsin will provide insights gained as an investor in large-lot trades in markets systemically flawed by FTDs.
“The panel will address the following questions: Are hedge funds and banker/brokers conspiring to swindle ordinary investors by failing to deliver shares sold short? Are self-regulatory organizations such as NASD ignoring concerns while industry-wide organizations like Depository Trust & Clearing Corporation (DTCC) aid the illicit activity? Are investors already exposed to such large losses that the SEC is frozen into inaction?”
CFALA is a non-profit membership organization established in 1931. Among its 1800 members are mutual fund and investment company in-house financial analysts and portfolio managers, banks, insurance companies and other buy-side firms, sell-side analysts, investment bankers and broker-dealers, investment advisers, academics, regulators, accountants, and investment consultants. CFALA is one of 131 member societies of the CFA Institute.
It is widely believed that last year the DTCC effectively scuttled a General Electric (NYSE: GE) “Dateline NBC” program at the last minute that had been a year in production, and which later was aired in a truncated version that avoided mention of the DTCC.
Even FinancialWire has experienced its fury. In a letter to this newswire’s attorney, Marshal Shichtman, Esq., it admitted to directly interfering in FinancialWire’s distribution on Yahoo (NASDAQ: YHOO) via Investors Business Daily. Despite warnings from Shichtman, the DTCC once again sought to interfere with another distribution, and even went so far as to contact the Financial Press in India, with the same salvo expressed elsewhere: “(Financial Express’) reliance on FinancialWire is unfortunate. It is not a legitimate news source.”
The globally-distributed FinancialWire, widely viewed as the “third newswire” behind Dow Jones (NYSE: DJ) and Reuters (NASDAQ: RTRSY) is edited by a team of ten professional reporters, who publish upwards of 1,500 news articles on a wide variety of financial subjects each month.
The DTCC also had castigated EuroMoney after a March, 2005 article on illegal naked short selling quoted then U.S. Securities and Exchange Commission Head of Market Regulation Annette Nazareth’s assistant, James Brigagliano that prior lawbreakers were “grandfathered” because “we were concerned about generating volatility where there were large pre-existing open positions, and we wanted to start afresh with new regulation, not re-write history.”
The DTCC, controlled by the NASD and the New York Stock Exchange, has more recently purportedly become the subject of subpoenas issued by a multi-state task force that is believed to be looking at the relationship of the DTCC’s “Stock Borrow” program to fails-to-deliver, which the DTCC admits to being $6 billion daily, which, while only a small percentage of each day’s trading, is enough to devastate hundreds of small public companies if misused.
The DTCC has had some successes in the courts, where famed lawyer John O’Quinn has been seeking to sue the entity over its “Stock Borrow Program,” which he considers to aid and abet
illegal naked short selling.
In the latest action, last Wednesday, the U.S. District Court in Las Vegas dismissed “with prejudice” Whistler Investment’s lawsuit against the DTCC and its subsidiaries. This is the fourth such dismissal.
The court agreed with the DTCC’s position and clearing and settlement rules are approved by the U.S. Securities and Exchange Commission, and thus “cannot be challenged under state law.” It said the DTCC’s Stock Borrow Program is”explicityly approved by and subject to the ongoing oversight of the SEC,” and thus legal challenge is barred by the Supremacy Clause of the U.S. Constitution, according to reports.
"We are very pleased that judges across the country continue to reject these meritless claims," said Larry Thompson, DTCC's General Counsel. "Last year, DTCC settled more than $1.4 quadrillion in securities transactions. We play a pivotal role in the U.S. capital markets by providing the capacity, certainty and reliability required to clear and settle today's enormous trading volumes and maintain the integrity and soundness of the U.S. capital markets. All of our operations and activities are carried out under SEC-approved rules and are subject to strict federal regulatory oversight. This arrangement ensures uniformity and accountability in clearing and settling securities transactions and, in turn, provides the stability that is essential to the efficient functioning of our capital markets."
The FUNNIEST part is the bashers continue to ignor NSS exist. THEY STILL CLAIM its a figment of folks imagination. hahahahahahahah, If we win big, I promise you I will fund a legal team to go after even the smallest basher that was put online to take down this stock. YOU HAVE MY WORD!
CMKX Pump and Dump
to really look into this CMKX Pump and Dump
I guess that is why U.S. Senators and Congressmen were CC'd Mr. Frizzell's NASD Complaint Letter... to really look into this CMKX Pump and Dump!
BF/gn
Cc: SEC-Leslie Hakala
Sue Kelly (House Financial Sevices)
Senator Shelby
Senator Bennett
Senator Hatch
Senator Sarbanes
Charles Moore-Securities Administrator-Nevada
Senator Harry Reid
Senator John Ensign
Representative Shelly Berkley
Representative Joe Gibbons
Representative John Porter
A Lawsuit. Good luck because you've already spent most of your money and good lawyers are like a wet vac, they'll suck up your money quicker than UC. I hope it works out for you.Anyone can sue.
But the Plaintiff better have a good reason to sue.
Otherwise the Judge will throw out the complaint.
Notice the HUGE, i mean the BIGGEST pick up of bashers all over the net? And right on the heals of the latest from the TF (not Bill, but the TASKFORCE).
Why? Well, IMO, the shorters are seeing tough action from the TF to show the world not only the short in CMKX but how the system does not work and allows this illegal activity to take place. Thus, the new effort is to get you to sue the company, join the dark side, all in an effort to muddle the action taking by the taskforce. What better way to slow the actoin of the TF than to muddy the waters with CMKX being sued.
The bashers song and dance is so transparent, and backed ONLY with stating opinions as fact (that is your first clue, when someone post opinion as fact, you IMMEDIATELY question thier intention).
Dont succomb to thier agenda. We ALL are frustrated at times and we should at some point demand answers. But, let it play its course for a while. Not too long though. I think in 30 days the company will feel pressured to throw a bone at least. but if that bone doesnt have any meat, then we should all consider banding together and forcing UC to speak.
Luck to us.
Remember, IGGIE the freaks out there that have NOTHING to say expect this is all a fraud and sue. BEWARE of thier agenda. IMO
On October 28, 2005, CMKM Diamonds, Inc. (best known by its trading symbol CMKX) was delisted by the SEC for non reporting violations, halting trading of the stock in a company that had issued an incredible 703 billion shares of “real” stock, sold to over 50,000 shareholders. Shortly afterwards, the company appointed a three person task force, consisting of Attorney Bill Frizzell, Attorney Don Stoecklein, and Howard Hughes’ former right-hand man Bob Maheu, to “identify bonafide shareholders” of the company’s stock, a process that after seven months, and three deadline extensions, still has not been completed, as brokers have used excuse after excuse to delay delivery of shareholders’ stock certificates.
Yesterday, Bill Frizzell sent a complaint letter to the NASD, along with copies to the SEC, Nevada state securities regulators, and several key members of Congress, claiming that there is “indisputable evidence of large numbers of failed deliveries in this stock,” and that brokers are trying to undermine shareholders rights by denying them their rights to ownership, stating that:
Nevada law NRS 78.235 mandates that each shareholder has the right to request and receive certificates of ownership from the company for their stock. Specifically, the statute states “..every stockholder is entitled to have a certificate, signed by officers or agents designated by the corporation for the purpose, certifying the number of shares owned by him in the corporation.”
In his complaint letter to the NASD, Frizzell lists a few of the reasons that brokers have given their clients for failing to deliver the stock certificates to their rightful owners. It is a list worthy of David Letterman’s Top Ten:
The most alarming problems are represented by those shareholders who have been requesting certs from their brokers since the company’s first announcement of a distribution seven months ago. Here is a sampling of excuses being given to shareholders as reasons for their inability to obtain a cert:
1. “We had your cert, but it is now lost. It will take us another 6 to 8 weeks to obtain another one.”
2. “This stock purchase was a book entry only and no certificate is available.”
3. “Your stock was classified as a worthless security and is no longer in your account.”
4. “Our clearing firm has not been able to deliver these certificates due to a backlog of requests at the transfer agency.”
5. “I have been instructed we are no longer pulling certs for CMKM and there is nothing I can do. You need to contact the company.”
6. “CMKM Diamonds has a “K” code next to it, indicating that it is being held in safekeeping for the client. The clearing agent has made the decision not to issue certs but rather fax a copy of the certs it holds to the transfer agent.”
7. “Attached herewith is evidence of ownership of shares held electronically by XYZ clearing for ABC broker. ABC to confirm receipt of this proof of shares of CMKM and related companies are held with XYZ.”
8. “In light of the lack of cooperation (by the transfer agent), your May 15th, 2006 deadline must be bogus and must be extended, and Entourage shares could of course still be sent to ABC for the benefit of XYZ.”
9. “MNO said they had discussed with the Task Force the acceptability of the affidavit as proof of ownership in lieu of the certificate, and that it would be accepted.” No such conversation ever occurred with the Task Force members.
10. “We ordered your certificate, and it has been lost. You must now fill out a loss certificate.” The transfer agent confirms that no certificate was ever issued.
Each quoted statement above is taken verbatim from a shareholder’s letter or from a broker’s written response to a shareholder’s request for a cert. I could continue with pages and pages of documented incidences of these broker responses to the requests of the shareholders if such is necessary to establish the need for a full investigation.
The key to the Task Force complaints about CMKX is a scheduled distribution of shares of another company’s stock, Entourage Mining Ltd. (ETGMF). Even though there were a total of 703 billion shares of CMKX, and even though the stock hasn’t traded for almost seven months, brokers still haven’t been able to deliver stock to all of the shareholders who have requested it, pointing to a potential short that could total in the billions of shares.
Considering the fact that the DTCC has claimed that the amount of failed deliveries has never exceeded 500 million shares for the entire market, it’s quite likely that the failed deliveries in this one little company….that no longer even trades….could surpass the entire number of fails claimed by the DTCC for the entire stock market.
But the story gets even more bizarre. On April 28, 2006, a month before the final deadline for share distribution, the DTCC emptied its vaults of all CMKX shares, sending them to the brokers via the transfer agent, and the Task Force eventually compiled a list with a broker-by-broker breakdown of who had how many shares left to hand out. The distribution of certs continued, with some of the country’s biggest brokers dragging their feet in what seemed to be an attempt to stall for time until they could come up with a way to cover their trades…and their tracks.
And just this week, some of the brokers did just that, turning in their own CMKX certificates in the brokerages names (instead of the “real’ shareholders names), in an attempt to receive the Entourage shares themselves. Why would they do this? There’s only one logical reason for it. They intend to take the Entourage shares and deposit them in the accounts of the remaining CMKX shareholders who haven’t received their certificates….as “book entry’ deposits. In other words, if they’re short say, ten billion shares of CMKX, they simply “electronically” deposit the Entourage shares in the accounts, even if there aren’t nearly enough Entourage shares to give all of the real CMKX shareholders what is owed them.
They want to trade their short position in CMKX (which can’t be covered because the stock is no longer available) for a short position in Entourage Mining, which they can then go out and buy on the open market (because it is trading). Voila! No more short position, and hopefully, no more massive legal liability against the brokers for robbing the shareholders blind.
There’s only one problem: the brokers don’t own the stock, the shareholders do. Since CMKX is now a private company, the brokers should no longer hold it in street name. They were only the custodians of the stock, holding it until such time that the real owners, the shareholders, the ones who bought and paid for the stock in the first place, requested that the stock be handed over to them.
In all reality, the brokers should have delivered the CMKX stock within three days after they made the sale, as required by law. Instead, the stock hasn’t even traded for the past seven months, and many of them still can’t deliver.
So who are the guilty parties? That still remains to be seen, but the Positions Report issued by the DTCC in April provides some definite clues. First, let’s go back to the letter sent out by Frizzell yesterday:
The Task Force has now received certs in the name of certain brokerage companies. Our investigation reveals a potentially huge naked short position in at least two of the very companies that have sent us certs. The certs sent to the Task Force by the brokers represent billions of shares of CMKM stock. It is not the intention of the company to distribute Entourage stock to securities intermediaries and clearing houses for them to distribute the stock at their discretion. It is clear from the Regulation SHO records in conjunction with other sources (ADP, the transfer agent and the DTCC) that huge fails to deliver in this stock currently exist. It would be a breach of the fiduciary duty of the company to distribute these assets to a broker in lieu of its true beneficial owner when there is evidence of known fails to deliver occurring at the same brokerage house.
Now let’s look at the Positions Report. There are only five brokerage houses with reported positions (as of April 14) of over a billion shares, and of those five, Ameritrade has over 4.1 billion shares on the Positions Report, and it is likely that they still hold a sizable portion of the reported 180 billion shares that they once had. And yet they refuse to distribute the remaining shares to their rightful owners, even after seven months. What do they have to hide?
Other brokerage firms with substantial positions on the list include NFS LLC with 5.3 billion shares still in street name as of April 14, Citigroup with 2.8 billion, and Penson Financial with just over 2.1 billion. I repeat: why haven’t these firms turned over their shares to their rightful owners. What do they have to hide?
Then, on the other side of the spectrum, we have E*Trade. The positions report shows them with a paltry 38,594 total shares left to distribute as of April 14. Considering the fact that I’ve personally received emails from CMKX shareholders who haven’t received their certificates totaling tens of millions of shares, it will be interesting to see how they mange to cover those accounts and the others who are still waiting to get what they paid for so long ago.
This is nothing more than a shell game, a series of ploys and stall tactics designed to hide the fact that something is very wrong with our stock market system. Couple this little tale with the growing number of other companies now presenting evidence of their own of rampant stock market manipulation and stock counterfeiting, and you have a trail of corruption that is unraveling at a frightening pace.
Bill Frizzell put it in perfect perspective in his closing paragraph, one that I hope our securities regulators and elected officials pay close attention to:
There was a time in the market place when shareholder’s rights at least co-existed with the rights of the broker/dealers. You have now been presented with evidence of shareholders who have demanded that their brokers issue certs for their holdings. Many shareholders have been flatly refused by their broker. This violates Nevada state law and the spirit, if not the letter, of federal regulatory law. I call on you to begin an investigation into this injustice.
And that, my fellow patriots, is the Faulking Truth.
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Mark Faulk is the Editor of The Faulking Truth, and the author of the upcoming book about the CMKX saga entitled "The Naked Truth: Counterfeiting the American Dream." Because of the massive amounts of research required to complete this project, and so that the events of the next few weeks can be included in the book as well, it has been rescheduled for release at the end of July or early August. For more information on the book and on the stock market scandal, go to http://www.faulkingtruth.com/ and to pre-order your copy, go to http://www.theownersgroupinc.com/cart/
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Here is a list of the regulators and elected officials who received (or will be receiving shortly), the letter concerning the CMKM/CMKX saga. Some people on this list have been supportive of our efforts to reform the stock market (Senators Bennett and Hatch in particular), while others have not. Contact them in a professional, courteous manner, and ask them to do the right thing to protect America’s shareholders:
SEC Complaint Center 100 F Street NE Washington, D.C. 20549-0213 FAX: 202-772-9295 enforcement@sec.gov
Senator Paul S. Sarbanes 309 Hart Senate Office Bldg. U.S. Senate Washington, D.C. 20510 (202) 224-4524 FAX: (202) 224-1651 http://sarbanes.senate.gov/pages/email.html
Senator Richard Shelby United States Senate 110 Hart Senate Office Building Washington, DC 20510 Telephone: (202) 224-5744 Fax: (202) 224-3416 senator@shelby.senate.gov
Senator Bob Bennett 431 Dirksen Building Washington, DC 20510-4403 Phone: (202) 224-5444 Fax: (202) 228-1168 http://bennett.senate.gov/contact/email_opinion.cfm
Senator Orrin G. Hatch Washington DC Office 104 Hart Office Building Washington, DC 20510 Tel: (202) 224-5251 Fax: (202) 224-6331 http://hatch.senate.gov/index.cfm?FuseAction=Offices.Contact
Senator Harry Reid 528 Hart Senate Office Building Washington, DC 20510 Phone: 202-224-3542 / Fax: 202-224-7327 http://reid.senate.gov/email_form.cfm
Senator John Ensign 356 Russell Senate Office Building Washington • District of Columbia • 20510 Phone: (202) 224-6244 • Fax: (202) 228-2193 http://ensign.senate.gov/forms/email_form.cfm
Congresswoman Sue Kelley United States House of Representatives 2182 Rayburn House Office Building Washington D.C. 20515-3219 Phone: 202-225-5441 Fax: 202-225-3289 http://www.webslingerz.com/jhoffman/congress-email.html
Rep Jim Gibbons Washington, DC 100 Cannon House Office Building Washington, D.C. 20515 Voice: 202-225-6155 Fax: 202-225-5679 http://www.webslingerz.com/jhoffman/congress-email.html
Congresswoman Shelley Berkley United States House of Representatives 439 Cannon House Office Building Washington, D.C. 20515-2801 DC Phone: 202-225-5965 DC Fax: 202-225-3119 shelley.berkley@mail.house.gov
Congressman Jon Porter 218 Cannon House Office Building Washington, DC 20515 Phone: 202-225-3252 Fax: 202-225-2185 http://www.webslingerz.com/jhoffman/congress-email.html
Secretary of State Securities Division Charles Moore 555 East Washington Avenue 5th Floor, Suite 5200 Las Vegas, NV 89101 (702) 486-2440 (702) 486-2452 (Fax) mailto:sosmail@govmail.state.nv.us
The letter format is excellent, in that;
He outlines CMKX legal position
He outlines our potential worth
He explains why we have the cert pull
He explains we're a company in good standing
He states the laws of Nevada rights per shareholder
He states his voluntary position (disgorgement)
He represents the shareholders in a legal capacity
He state the DTCC's position on the cert pull and that CMKX has complied
He again states we are not a defunct company (we have worth)
He emphasizes that the 'securities intermediaries (brokers) have denied, illegally, for numerous reasons shareholders their legal rights to obtain certs. and correct it.
I loved the letter. It is filled with a wealth of information..........and makes me very confident in CMKX's future, even if I have to wait longer.
The WAR has officially just begun.
Good thing is, the company must have the valuation and NSS proof since they fired the first shot. We also have the DTCC on our side and have recruited (forcefully, lol..) the likes of the 12 people CC'd on the bottom of the letter........... ( in other words, "are you guys going to take action or just sit on your duffs?")
Remember - The DTCC washed their hands from this mess weeks ago with the letter to their members.
Now Frizzell comes out with a letter stating:
"The DTCC sent information to its participants in November of 2005 informing its participants of the CMKM request that certificates be obtained in the beneficial owner’s names. As the final deadline imposed by CMKM approached, the DTCC, working with the CMKM Task Force, directed all participants to request their certs on deposit at the DTCC or the DTCC would send all remaining certs to the transfer agent for distribution back to the brokers. Many brokers still did not request their certs on deposit at the DTCC and the DTCC emptied their vaults of CMKM securities as they had indicated they would do. As of the date of this letter, the DTCC is not involved in the transfer of CMKM stock between the beneficial owners, the company and any securities intermediaries. All stock transfer problems which exist at this time are between the securities intermediaries (broker/dealers) and the shareholders."
So in effect, it is no longer CMKM against the world, we now have a formidable force on our side.
Throughout this entire saga, even the most ardent longs have had episodes of wondering whether or not CMKM may just simply be an elaborate scam or just a defunct company trying to salvage what little it had left to console its shareholders.
As time went on, and all of the predictions came and went without coming to fruition, coupled with the lack of news from the company, no matter how sure some of felt about CMKM, a nagging thought that the above possibilities loomed in the back of our minds (scam? defunct? etc..)
Today's letter should be enough to put all of those doubts to bed. Anyone still thinking that the company doesn't have the goods nor the capability to win this war is sorely mistaken.
Just like it has been surmised about CMKM already having proof of the NSS prior to the cert pull, CMKM just fired the first shot in this battle but knows they have already won the war..
I know I will sleep better tonight, we are indeed in good hands!
I work with a lady from Africa, she moved to the US two years ago and just got her first job. She is very nice and she made a promise to her brother to send some money home "asap" so she used "Western Union" and sent $600.00 and the cost was $75.00. This money was for her brother, but she has six sisters and five brothers and her mother, she said WOW $75.00 is TO MUCH but she loves her family and will continue to send all she can, and I Will get her and her family a PayChest account and "NO ONE" can stop me!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Press Release Source: PayChest, Inc.
PayChest is Aggressively Moving Toward its' Ultimate Goal
Thursday May 4, 11:41 am ET
MEXICO CITY, MEXICO--(MARKET WIRE)--May 4, 2006 -- PayChest, Inc. (Other OTC:PYCT.PK - News) is aggressively moving toward its' ultimate goal as a leader in the third party on-line payment processing system. As in any great venture we have experienced challenges in coordinating the proprietary banking end of Paychest.
ADVERTISEMENT
Already, we have established an excellent team in the Philippines for a customer service center, as well as the Asian offshore banks to develop our common goal.
We appreciate our investors being patient so we can all reach the common goal consistent with the wishes of the board of directors in reaching the success and become live shortly.
About PayChest, Inc.
Founded in 2005, PayChest has developed a proprietary and secure back end payment processing system that can easily be accessed and utilized by anyone with web access and an e-mail address in any country around the world. PayChest has developed a processing system that leverages the existing financial infrastructure of the global banking community and/or credit card companies to enable consumers and business owners located in every corner of the world to securely send, receive and/or process payments with others via the company's Web site. The company's payment processing system operates in real time and incorporates a user interface that is designed to be convenient for any user and does not require any technical know-how to send and receive payments. For more information please contact Alejandro Cerda CEO, +(5255) 5673.2364, Gavillero 32, Residencial Villa Coapa, 14390, Mexico D.F., Mexico, www.paychest.com.
This release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the company's current views with respect to future events that involve risks and uncertainties including uncertainties related to successful negotiations with other parties, closing of transactions, capital availability, operational and other risks, uncertainties and factors described from time to time in the company's publicly available SEC reports. In light of these risks and uncertainties, the forward-looking events described in this release might not occur.
Contact:
Contacts:
PayChest, Inc.
Alejandro Cerda
CEO
+(5255) 5673.2364
http://www.paychest.com
--------------------------------------------------------------------------------
Source: PayChest, Inc.
is there a website or Symbol for Western Pacific Minerals ?
new article on PINK SHEET STOCKS...new SEC RULING
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http://www.allstocks.com/homepages/homepage6.htm
Pink Sheets Proposes New SEC Rule Concerning Stock Promotion Activities
Market Wire - April 28, 2006 3:23 PM (EDT)
--------------------------------------------------------------------------------
Jump to first matched term
NEW YORK, NY -- (MARKET WIRE) -- Apr 28, 2006 --
-- Proposed rule targets explosion of misleading spam email and fax
promotions on OTC stocks
-- Increased transparency and effective disclosure to protect investors
from "pump and dump" promotion schemes
Pink Sheets, LLC today proposed that the Securities and Exchange Commission ("SEC") under the Securities Act of 1933 adopt rules mandating increased protections for investors against fraudulent activities by securities promoters and their sponsors. The proposed rule provides for full disclosure of the identity, compensation and relationships of all participants (i.e., issuers, sponsors, third party promoters, etc.) directly or indirectly engaged in the promotion of stocks in the over-the-counter (OTC) market. The rule also targets the flood of unsolicited spam emails and faxes promoting OTC securities to individual investors.
"We are requesting that the Commission take immediate action to expose securities promoters, spammers and their financiers whose actions are particularly detrimental to the livelihood of smaller public companies and to the confidence and financial well being of investors in OTC securities," said Cromwell Coulson, President and CEO of Pink Sheets, LLC. "Effective disclosure and enhanced transparency in the marketplace will facilitate a healthier trading environment that will benefit both issuers and investors in the OTC marketplace."
Under the principle that transparency is the most effective form of investor protection, Pink Sheets is advocating the following strategies to combat illegal promotion and unfair practices in the market for OTC securities:
-- Promotional materials must not just disclose that consideration was
paid for the promotion but identify the promoters and their sponsors
accurately, as well as provide current contact information for those
entities.
-- Adequate current information regarding the issuer must be publicly
available at the time the promotion takes place.
-- All securities held by promoters and their sponsors at the time the
promotion takes place is restricted and cannot be sold without registration
or an appropriate exemption.
-- Stock promoters must provide issuers of the stock that is being
promoted with a copy of all promotional materials.
-- Promoters, their sponsors and issuers must inform transfer agents and
broker-dealers that stock that is held by or on behalf of promoters and
their sponsors is restricted.
"We believe that putting these straightforward requirements in place will enable investors to easily identify fraudulent stock promotions and unveil the miscreants who engineer them. Any company that does not have current information available has no business promoting its securities, since investors cannot make reasonable investment decisions in an information vacuum. By cutting off the ability of promoters, sponsors and affiliated parties to dump these stocks into the market, the rule will render fraudulent promotions unprofitable and set the stage for legitimate small company issuers to deliver information to the marketplace," said Coulson.
The rule also targets the torrent of unsolicited and often illegal fax and email spam on obscure OTC securities. Spam-oriented securities promoters may be paid by issuers or affiliates of the issuer, or increasingly third parties that may or may not be affiliates of the issuer. In most cases, these securities promoters and those who finance them hope to turn a quick profit when unsuspecting investors buy stocks based on unsupported or spurious claims -- leading the stock's market value to plummet as soon as these promotional activities cease.
"There is hardly a household in America that has not been inundated with spam emails making fantastic claims about easy profits to be made by any purchaser of some obscure stock -- with many schemes being launched without the consent or even knowledge of the issuer. Given that the OTC markets play an essential role in the capital formation of smaller companies and provide a portal for overseas issuers seeking to access the American capital markets, the Pink Sheets is committed to working with regulators to create a more orderly and legitimate marketplace for all participants," Coulson concluded.
The full text of the proposed rules is available at: http://sec.gov/rules/petitions/petn4-519.pdf
About Pink Sheets, LLC
Pink Sheets, LLC is the leading provider of pricing and financial information for the over-the-counter (OTC) securities markets. Its centralized information network includes services designed to benefit market makers, issuers, brokers and OTC investors. Pink Sheets information enhances the efficiency of OTC trading, provides better executions for OTC investors and improves the capital formation process for OTC issuers. For more information visit the Pink Sheets website at www.pinksheets.com.
Contact:
R. Cromwell Coulson
Chairman and CEO
Pink Sheets, LLC
1 (212) 896-4400
issuers@pinksheets.com
or
Saskia Sidenfaden
Media Relations
CCG Investor Relations
1 (212) 477-9800 x120
saskia.sidenfaden@ccgir.com
"Bashers" Targeted !
Metropolitan News-Enterprise
Wednesday, April 19, 2006
Page 1
Witness Must Identify Source of Anonymous Web Postings—C.A.
Justices Say Third Party Lacks Standing to Assert First Amendment Challenge
By KENNETH OFGANG, Staff Writer/Appellate Courts
A third party who refused to answer deposition questions about the identity of persons who allegedly posted defamatory statements on the Internet lacks standing to assert those persons’ First Amendment rights, the Sixth District Court of Appeal ruled yesterday.
The justices rejected an appeal by Stephen L. Worthington, a hedge fund manager ordered to answer questions about the identities of two persons who allegedly posted disparaging remarks about Matrixx Initiatives, Inc., a pharmaceutical company, in 2003 and 2004.
Phoenix-based Matrixx, which makes and sells the Zicam line of cold and cough remedies, brought suit in Arizona against a number of named and Doe defendants. Matrixx claims the defendants published false and injurious statements on investment Web sites, causing damage to the company’s stock prices.
Sophisticated Software
Some of the anonymous postings were made under the names Veritasconari and Gunallenlies. While the posters used sophisticated software to avoid being identified, Gunallenlies neglected to activate the software on one occasion prior to posting a message on Yahoo! Finance, where the poster claimed that an FDA investigation and/or lawsuits were impending over claims that Zicam nasal gel caused a loss of smell.
Matrixx was able to obtain information from Yahoo! tracing Gunallenlies to Worthington’s firm, Barbary Coast Capital Management in the San Francisco Bay Area. At his deposition, which was taken in San Francisco, Worthington refused to answer any questions about Veritasconari and Gunallenlies, including whether he was Veritasconari or Gunallenlies.
He did admit knowing Floyd Schneider, a named defendant who had once been a co-defendant of his in a lawsuit, which was settled, in which the defendants were also accused of posting defamatory messages on investment-related message boards.
Argument Rejected
Santa Clara Superior Court Judge James P. Kleinberg ordered Worthington to answer the questions, rejecting his contention that whoever posted the messages had a First Amendment right to do so anonymously.
On appeal, Worthington argued that at a minimum, Matrixx should be required to demonstrate that it has a viable cause of action before it can take discovery with respect to the identities of anonymous posters. Matrixx responded that Worthington lacked standing to assert the First Amendment rights of persons other than himself.
Justice Franklin Elia, writing for the Court of Appeal, agreed with Matrixx, saying it was not required to have raised the standing issue in the trial court.
Elia distinguished cases holding that a party to litigation may, in some circumstances, assert the rights of a non-party, such as when a criminal defendant was allowed to assert that race-based peremptory challenges violate the equal protection rights of potential jurors or when a booksellers group was allowed to litigate whether a state statute violated the First Amendment rights of book buyers.
“Where a third party is brought into the litigation, typically through a discovery order, the anonymous plaintiff or defendant normally steps forward to oppose the disclosure of his or her identity,” the justice explains.
Where the court has allowed another entity to oppose discovery of the anonymous party’s identity, Elia continued, it was because of a close relationship between the subpoenaed entity and the anonymous person, as when internet service providers have been allowed to contest efforts to force them disclose the identities of customers.
Worthington, by contrast, is not alleging a close relationship, “or, indeed, any relationship” with Veritasconari and Gunallenlies, the justice noted, nor is he alleging that those persons are unable to protect their own interests.
The case is Matrixx Initiatives, Inc. v. Doe, 06 S.O.S. 1967.
Supreme Court Blocks 'Wasteful' Class Actions by Stockholders
By Gina Holland
March 30, 2006
The Supreme Court has made it more difficult for investors to join forces to file high-stakes fraud lawsuits against companies.
Advertisement
The 8-0 decision handed down on March 21 blocks state class-action lawsuits by stockholders who contend they were tricked into holding onto declining shares.
Justice John Paul Stevens, writing for the court, said that to rule otherwise would allow "wasteful, duplicative litigation.''
The decision does not shut the door to lawsuits filed by individual stockholders, but rather to suits brought on behalf of large groups.
"There had been some upswing in these after the Enron and WorldCom scandals,'' said Columbia Law School professor John Coffee, who believes it will be too expensive for individual stock owners to pursue such suits.
It was a major victory for Merrill Lynch & Co., which faced a spate of lawsuits prompted in part by New York Attorney General Eliot Spitzer's 2002 probe into the investment banking firm's practices.
Spitzer uncovered records showing that Merrill Lynch analysts publicly recommended that investors buy stocks that were described privately as a "disaster'' or "dog.'' Merrill Lynch agreed to a $100 million fine.
Former Merrill Lynch brokers said in the Supreme Court case that the company's overly positive appraisals caused them to give bad advice — and eventually lose customers and money in their own investments.
The case required the court to consider a 1995 federal law, passed over a presidential veto after Republicans took control of Congress, and a follow-up law approved three years later intended to restrict investor class-action lawsuits.
The Merrill Lynch brokers filed a class-action suit under state law in Oklahoma, but the justices said in Tuesday's decision that Congress intended to prevent their claims and others like them.
"Public companies no longer have to fear the threat of securities class-actions in 50 different states under potentially 50 different sets of laws,'' said Jay Kasner, a New York attorney who represented Merrill Lynch.
William Federman, the Oklahoma City attorney for the brokers, said Congress had already barred federal court lawsuits claiming that someone was duped into holding onto stocks. Now they can no longer be filed in state courts.
"It sends a signal to investors this court is seeking to continue what Congress started, to protect big business,'' Federman said.
Nineteen states, led by New York, backed the brokers and urged the justices not to "strip states of essential authority to protect their citizens from fraud in securities transactions.'' The others were California, Connecticut, Hawaii, Illinois, Iowa, Michigan, Minnesota, Mississippi, Montana, New Jersey, New Mexico, Ohio, Oklahoma, Oregon, South Carolina, Vermont, Washington and Wisconsin.
Coffee said the ruling shows that the Supreme Court, like Congress, is concerned about class-action lawsuits.
The opinion cited congressional findings of nuisance lawsuits that target "deep-pocket defendants.''
"The magnitude of the federal interest in protecting the integrity and efficient operation of the market for nationally traded securities cannot be overstated,'' Stevens wrote.
Merrill Lynch spokesman Bill Halldin said, "The fact that the court was unanimous confirms what we said from the start: This case had no merit.''
The court's ruling did not end part of the lawsuit that involves employee claims of lost income due to Merrill Lynch fraud.
New Justice Samuel Alito did not participate in the case because it was argued before he joined the court.
The case is Merrill Lynch v. Dabit, 04-1371.
Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
http://www.insurancejournal.com/news/national/2006/03/30/66909.htm
http://www.paychest.com/3.0/ = http://www.cupaid.com/
These two websites are identical (word for word) and it looks like "cupaid" has been in business for two years. Can we do some DD on this please!