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If you could put 1/1000 of the effort you put into posting on this board into aiding the thousands of people who did absolutely nothing wrong to deserve this sentence because it is something that was internal and hidden...just think how it would put things to rest....
If you're here not to hurt the CMKX shareholders,
why not do something positive once in your life and
try to assist Bill with the huge task that is hanging like a dark cloud over his head. I'm certain he would not decline.
Call him or email him and feel free to point out to him how your knowlege would benefit in putting this stock back on the right track. You know we had assets, Uranium is nothing to sneeze at. Anything you could do would make you a better person... we all have some good in us...
This demonstrates that without the facts you can not possibly win and Judge Graham Mullen dismissed the United States Securities and Exchange Commission's ("SEC") case against John Mangan, Jr. that alleged 10B-5 insider trading. The case focused on a single trade made more than six years ago in 2001 when Mangan worked for the Charlotte office of Friedman, Billings, Ramsey ("FBR").
We know for a fact that the guilty party at CMKX has already been given an easy sentence, however what should have been added to the sentencing is a timeline when payments are to be made say $1Million per month till its paid off else Jail will be the next option. Instead they got off easy and we have to go searching for the assets ourselves, once they have been located the judge will allocate them back in the company name.
I doubt that UC was smart enough to take the money, hence he is not in jail at this point in time and is instead assisting in the recovery of the assets. Think about it.
The Law can be used to soemones advantage as has been proven over and over, and it is the better lawyer that usually wins and not who is right. This is why it is so vital that we have not just pieces of information proving something as this will be dismissed by a better lawyer, but a complete picture of what has transpire and this is why its taking so long for Bill to put this puzzle together.
CMKX will be back soon !!!
You can take that to the Bank
Its right there "Pipe, or private investment in public equity" but thats not my point. Whats amazing is that NSS is not being admited by the SEC, they call it a figment of our imagination yet now its being tracked. Why even bother?
They know it can be done, even if they blame it on...
1. Fat Finger
2. Computer Glitch
3. Best one is no competition and we'll just give you the money like the slime that we are...
SEC should be fired and jailed for lying !
Federal Judge Tells SEC Lawyer “Sit Down, Shut Up”
October 26, 2007, 2:17 pm
Federal Judge Tells SEC Lawyer “Sit Down, Shut Up”
Posted by Peter Lattman
Judge Graham Mullen on Wednesday dismissed part of an SEC civil lawsuit alleging that a former executive at Friedman Billings Ramsey engaged in illegal conduct related to a securities offering. The claim alleged that John Mangan Jr. committed a so-called Section 5 violation involving a Pipe, or private investment in public equity. Representing Mangan: George Covington of King & Spalding in Charlotte and James Wyatt at Wyatt & Blake. Said Wyatt to the Observer: “We firmly believe (the case) will be resolved in his favor because we believe he has done absolutely nothing wrong.”
While the case is interesting — especially for those of you obsessed with the controversy surrounding Pipes and naked short selling — what’s interesting to us is this excerpt from the transcript of Wednesday’s oral argument on Mangan’s motion to dismiss.
Judge Mullen: Naked shorts are not legal, are they?
SEC lawyer Amy Greer: No. No, they’re just very risky, Your Honor.
SEC lawyer Catherine Pappas: And Your Honor –
Judge Mullen: They’re not illegal; they’re just risky.
Greer: Correct. Naked short sales are not illegal; they’re just risky, Your Honor.
Judge Mullen: Why in the world don’t you all make them illegal? Don’t you understand what happens in the market when you allow naked short selling to attack companies? I mean, do you understand that?
Greer: Your Honor, I think that that’s an issue for the United States Congress. I appreciate your concern –
Judge Mullen: Well –
Greer: — and I –
Judge Mullen: — the answer to my question is, yeah, I understand it or, no, I don’t.
Greer: I do understand your –
Judge Mullen: Do not try — okay.
Greer: I do understand, Your Honor.
Judge Mullen: Thank you for understanding it.
Covington: Your Honor, one thing –
Judge Mullen: Excuse the interruption.
Covington: No, sir.
Judge Mullen: Sit down, shut up, let the man talk. I’m not going to let him introduce (sic) you. Last warning.
Pappas: I’m sorry?
Judge Mullen: Sit down –
Pappas: Yeah, I got that.
Judge Mullen: — shut up, let the man talk. Last warning.
Pappas: Okay.
Judge Mullen: Understood?
Pappas: Okay.
Judge Mullen: Excellent.
Covington: With all due respect, Your Honor –
Judge: And you don’t interrupt her when she’s talking.
Covington: Yes, sir.
Judge: Proceed.
“Sit down, shut up, let the man talk”? Wow.
Do you see what we're up against ...
but with the right judge CMKX has a chance because these individuals are not going to let them walk all over the court room.
I say let the moose and canadian beavers eat their tires LOL
Thats where we differ so lets wait for Bill and see...
Its not all black and white...
Think about it... they do...
We're doing more than you can imagine, we are slowly but surely organizing for a single blow to the entire stock market and I hope you guys are ready to face this group.
Once Bill makes his move, you can be certain you will hear about CMKX in the media and there will not be just thousands demonstrating. If you think otherwise you need to see the big picture. We're close...
Others have failed because they didn't plan...
Thats the difference and the fact we have the power of the people... its amazing how far it will go ...
yes it will involve christians... but not thousands ...
try hundreds of thousands once we go live...
It won't look good ... for.... you can fill in the blanks... ha ha ha
I'm sure that amount is accurate LOL if you believe that you're living in a dream. Smell the coffee !!!
Especially if you consider that unregistered shares were being introduced into the stock market... Don't be foolish...
Why was the SEC affraid to see the NSS evidence that CMKX had at the time if they had nothing to hide ?
They should have said yes please show us... Don't you think...
This is exactly why you should be the CMKX new CEO love that response!!! LOL
Federal Judge Tells SEC Lawyer “Sit Down, Shut Up”
Ha ha ha thats what the SEC gets !!!!!!
So don't listen to the Bashers on this BB and do your own DD.
October 26, 2007, 2:17 pm
Federal Judge Tells SEC Lawyer “Sit Down, Shut Up”
Posted by Peter Lattman
Judge Graham Mullen on Wednesday dismissed part of an SEC civil lawsuit alleging that a former executive at Friedman Billings Ramsey engaged in illegal conduct related to a securities offering. The claim alleged that John Mangan Jr. committed a so-called Section 5 violation involving a Pipe, or private investment in public equity. Representing Mangan: George Covington of King & Spalding in Charlotte and James Wyatt at Wyatt & Blake. Said Wyatt to the Observer: “We firmly believe (the case) will be resolved in his favor because we believe he has done absolutely nothing wrong.”
While the case is interesting — especially for those of you obsessed with the controversy surrounding Pipes and naked short selling — what’s interesting to us is this excerpt from the transcript of Wednesday’s oral argument on Mangan’s motion to dismiss.
Judge Mullen: Naked shorts are not legal, are they?
SEC lawyer Amy Greer: No. No, they’re just very risky, Your Honor.
SEC lawyer Catherine Pappas: And Your Honor –
Judge Mullen: They’re not illegal; they’re just risky.
Greer: Correct. Naked short sales are not illegal; they’re just risky, Your Honor.
Judge Mullen: Why in the world don’t you all make them illegal? Don’t you understand what happens in the market when you allow naked short selling to attack companies? I mean, do you understand that?
Greer: Your Honor, I think that that’s an issue for the United States Congress. I appreciate your concern –
Judge Mullen: Well –
Greer: — and I –
Judge Mullen: — the answer to my question is, yeah, I understand it or, no, I don’t.
Greer: I do understand your –
Judge Mullen: Do not try — okay.
Greer: I do understand, Your Honor.
Judge Mullen: Thank you for understanding it.
Covington: Your Honor, one thing –
Judge Mullen: Excuse the interruption.
Covington: No, sir.
Judge Mullen: Sit down, shut up, let the man talk. I’m not going to let him introduce (sic) you. Last warning.
Pappas: I’m sorry?
Judge Mullen: Sit down –
Pappas: Yeah, I got that.
Judge Mullen: — shut up, let the man talk. Last warning.
Pappas: Okay.
Judge Mullen: Understood?
Pappas: Okay.
Judge Mullen: Excellent.
Covington: With all due respect, Your Honor –
Judge: And you don’t interrupt her when she’s talking.
Covington: Yes, sir.
Judge: Proceed.
“Sit down, shut up, let the man talk”? Wow. Readers, what do you make of the exchange?
http://blogs.wsj.com/law/2007/10/26/federal-judge-tells-sec-lawyer-sit-down-shut-up/
This was filed this year. 2-20-08.
Now............
...........if anyone says that Urban is a crook, direct them to this Company filing.
............if anyone says that Urban was in charge, direct them to this filing.
............if anyone wants to know why Kevin and Bill continue on; direct them to this filing
.............if anyone says the company is broke, direct them to this filing.
.............if anyone says that the SEC was not watching and acting, direct them to this filing.
I have gone through it, page by page, and given short quips of what I see.
IceCrush
http://www.cmkmdiamondsinc.com/documents/eton-added-filed-2-20-08.pdf
Eton Property, Nevade, page 2, lines 1-3
50,000 shareholders, page 4, line 8
SEC and CMKM were directed by the judge to provide discovery Apr. 24/05 page 4, line 16-17
Massive dilution of stock by Edwards and Desormeau page 4, line 21
Page 4 Line 25-28
14. Although great damage has been caused to CMKM by the Defendants and others, CMKM acquired assets that will allow it to return to trading status. Current management plan to restore CMKM to a viable entity. Plaintiff brings this action to seek recovery for CMKM from those individuals and companies that have caused damage to CMKM.
1 Mil of CMKM invested into CIM Page 5 line 7
1.5 Mil paid over 2 yrs to process accounting Page 5 line 13
Urban unknowledgeable, Desormeau lost/destroys/withheld company records Page 5 Lines 16-19
Clearly CMKM had not filed financial reports and has never filed such reports. Defendant Desormeau, although compensated in extraordinary sums, breached the duties owed to Company by losing, destroying or hiding company records from company officials and regulatory authorities.
Desormeau owns 2 companies, Part time Management got 63 Bil CMKX shares, and Business works at this time holds cert for 47,145,000 shares. Part time still holds 332,000,000 shares, all other shares have been sold into the market or to 3rd parties Page 5 line 20 and on.
Desormeau Companies associated with Edwards: Page 6 lines 1 onward
Desormeau failed to implement a system for account and refused to hand over information to do it, this preventing cmkm from filing Page 6 lines 16-22
Control of CMKM goes to John Edwards Page 6 line 27
All bills paid, by J.Edwards, held all company ledgers and journals sent money to others page 7 line 1
250 Bil shares cmkm dumped through Edwards, SEC and NASD saw, and filed complaint against NevWest in 2006. confirmed over 500 transaction, valued by NASD as $53 Mil page 7 lines 19-28
Eton formed by J. Edwards, forged stock powers, multiple signatures, and bought property with the money.......Golden Sands, $260 thousand, 401 Kings Fork $275, thousand, 25.41 Acres Commercial property $800 thousand and believe others will show up Page 8 11-19
Text book case of market manipulation Page 8 line 27
Not clear if previous cmkm management was aware of toxic financing page 8 lines 2
Explains how previous cmkm management probably was and could have been deceived Page 9 Line 16-26
27. In a sense the facts of the CMKM saga represent the “perfect storm” in a penny
28. stock dilution. CMKM has a somewhat dynamic and charismatic CEO that is convincing in his story about of discovery of valuable mineral deposits. A promoter (sometimes referred to in this case as a merchant banker) aligns himself with management with promises of raising millions for this new company. Immediately appears the known short sellers, profiteers, and toxic financing agreements. It is unclear to present company management whether these individuals and their methods were known to company management at the time the early financing was procured. Regardless, the grip on CMKM by these sophisticated manipulators resulted in a delisting and almost a destruction of CMKM. A look at the early stock distributions in CMKM shows recipients of stock to be people from the area known by law enforcement as the “maggot mile” in Boca Raton, Florida. And area where short sellers and market manipulators have access to hedge funds and finances that can control and cripple a small cap company.
Market makers control the company, dilute stock and make fortunes. Page 10 Line 1 and on
Failed promise for no seamless integration system Damages in excess of $10,000. Page 10 Line 27
Failed to raise capitol and provide services Damages in excess of $10,000. Page 11 Line 10
Breach of duties/good faith/fair dealings Damages in excess of $10,000. Page 11 line 26
Punitive damages in excess of $10,000. Page 12, Line 3
Eton/Desormeau/Edwards Conspiracy-divert funds Damages in excess of $10,000 Page 12 line 14
Willful, wanton/malicious NRS 41A.010 Damages in excess of $10,000. Page 12, line 18
Intentional false misrepresentation Damages in excess of $10,000 Page 13 line 8
Punitive damages for intentional misrepresentation Damages in excess of $10,00 page 13 line 10
Direct joint actions of defendants, Damages in excess of $10,000. page 13 line 25
Enrichment at expense of CMKM, Damages in excess of $10,000. page 14 line 13
Breach of duty, Damages in excess of $10,000. page 14 line 27
Breach of fiduciary duties, exploitation, massive distribution/dilution Damages in excess of $10,000. Page 15, line 14
Also...........Page 15, lines 8-10 "Specifically, CMKM has a valuable property right to its stock. Defendants exploited CMKM through the massive distribution and dilution of Company stock."
Request return of all assets gained- unlawfully- cash, stocks, real estate/others Page 16
List of all damages requested Pages 16-17
Signature David Koch, Dec. 18/07
ANYONE WHO doubted that we are still OFFICIAL in NEVADA...Perhaps you should read line 22 of the OFFICIAL COURT DOCUMENT...It says "CMKM DIAMONDS INC. IS and WAS a NEVADA Corporation doing business in Clark County State of Nevada." http://www.cmkmdiamondsinc.com/documents/eton-added-filed-2-20-08.pdf
HMMMM
It does not say state of Texas.... VERY INTERESTING!!!
Its Hard Work Shorting Billions of CMKX Shares which can take its toll on anyone.
Its the same judge that made FUN of the SEC for making a statement in the court that there is no such thing as NSS. That NSS is just a figment of peoples imagination.
Do your own DD to figure out the name... LOL
Just remember he doesn't need to find all the proof, just enough to bring forth reasonable doubt that something illegal is going on with regards to NSS. At this point the Judge can request that all the data is turned over and if anything has been manipulated it will all come out.
Please share what ever you're smoking LOL
Must be those magic mushrooms ey or special cookies with that secret ingredient ha ha ha
"the Pope & Buffet are holding it for safe keeping. Since IBM is now gone - they're the new trustees ( safe hands ) "
I thought it was Bush LOL
Why is the ETGMF master cert (for the shareholders) NOT in your possession and what are you doing about it? Do you plan to take legal action against Donald Stoecklein for possession of the cert?
The ETGMF certificate is being held by Donald Stoecklein because he was initially entrusted with its care by CMKM and Entourage Mining. Mr. Stoecklein has made known to current management that he will release the certificate to the Company with a court order to do so. The certificate cannot be negotiated in any way because it is restricted and it is also involved in a legal dispute. The certificate is in the name of CMKM Diamonds, Inc. No one, except CMKM Diamonds, Inc. can negotiate this certificate. Securities Law Institute is simply named as the custodian. Securities Law Institute has no ownership interest in the certificate or the shares it purports to represent. At this time, there is no need to ask any court for an order to take physical possession of this certificate.
Ricky you obviously have no idea what is really going on or you do and hence you are here to place doubt in the shareholders minds in which case I hope you enjoy eating Moose dung because we are going to prove that NSS has taken place.
I know this personally that Bill has found enough evidence to prove NSS and its no longer theory but fact.
What you're saying about the Cert pull is rediculous considering the fact that about 40% of them are still outstanding and are being tracked down. The total shares that were sold to the public is at least 1.12 Trillion +
Although the high count may have to do with the fact that
there were Billions of Unregistered Certs but again
this is no theory but actual data.
40% may not seem that high but the SEC was to ensure that Unregistered shares are not sold into the public and if the count was exceeding the allowable levels they should have stopped CMKX's trading without allowing it to traid again yet they allowed more people to purchase shares even after the Halt. Thats just not right !!!!!!!
How many of you have purchased CMKX after it was Halted, and if you were able to buy them don't you think its wrong for the Brokers sell you something that they should have been informed by the SEC was a lemmon. Its like a bank giving you fake money and smiling when they know its not real....
Something is not right with this picture.......
Ja Janice go with the flow and lets spread the word come on be a sport ... Janice for CEO of CMKX you know you want it
"Those pesky CMKXers are even getting to Fox Business reporters..LOL"
I say you are right, the CMKX shareholders are getting through to so many people everyone has heard about us.
They will surely pay anything to just get us to shut up.
How much more can they handle ?
Trust me Not much more and this is from a reliable source moi ... LOL We are so persistant all over the web and bb's people are begging for mercy.
I say we all nominate Janice as the new CMKX CEO.
She is here 24/7 which proves she is dedicated to CMKX even if Janice doesn't want to admit it.
She tries her best to provide correct information even if its not 100% correct the effort is worth her nomination.
So lets all vote Janice as the new CMKX CEO !
Janice Janice Janice
See that was easy LOL
In Canada there is actually a new Law that has been implemented regarding the sale of houses, you see in the past if you went for an extended vacation say 6 month and someone came into your house used your phone, they could get a mortgage for the full amount of the house in your name or even worse sell your house, which use to be your problem even though the bank never took the necessary steps to ensure that you were the authentic owner.
At some point the government stepped in since so much fraud has taken place and this responsibility was placed on the banks. I think the government needs to step up and the same sort of responsibility should be placed on the banks when it comes to transferring millions of dollars into 100s of accounts, if they're foolish enough to allow this to happen they should be held liable first investigate how legitimate the transaction is. In this case the Transfer agent should have never issued unregistered Certs and should take responsibility for allow this form of fraud to occur, for not informing the authorities.
The same principal if you try to put over $10,000 in cash into your bank account they will let the police know about it. Surely most people don't carry that amount of cash in their wallet and if they do its not likely legal. Same principal applies to Certificates.
Lets get some legal perspective on this ?
I'm not a lawyer so if you can shed some light on this perhaps you are going to be helpful to the way our system should function.
Actually we do have leverage ...
Everyone involved has commited fraud for Millions of dollars...
This includes everyone especially trusted institutions that have allowed for this to take place without seeing any red flags...
1. TA has failed to report to the authorities they were issuing Unregistered shares for Millions of dollars.
2. Banks opening 100's of accounts without asking any questions and in fact having internal employees involved in the theft
3. Market Managers just doing their thing and allowing Billions of CMKX shares to trade daily
4. Brokers not following procedure and lying to their customers when requesting CMKX Certificates, closing peoples accounts without authorization, the list is endless and Bill has it documented...
5. Insiders transferring money into accounts, buying all sorts of commodities which is being tracked down as we speak, right now ~60% we know where it is...
6. problem with the SEC and DTTC is that they are basically being allowed to function without taking any responsibility and each blaming the other.
7. Last but not least the White House for ignoring such a huge breach of security even though it was on the front page of the Washington Post...one never knows if this money is in fact being used for Terrorist acts...
We don't really know where the rest of the money has gone do we ?
Actually we do have leverage ...
Everyone involved has commited fraud for Millions of dollars...
This includes everyone especially trusted institutions that have allowed for this to take place without seeing any red flags...
1. TA has failed to report to the authorities they were issuing Unregistered shares for Millions of dollars.
2. Banks opening 100's of accounts without asking any questions and in fact having internal employees involved in the theft
3. Market Managers just doing their thing and allowing Billions of CMKX shares to trade daily
4. Brokers not following procedure and lying to their customers when requesting CMKX Certificates, closing peoples accounts without authorization, the list is endless and Bill has it documented...
5. Insiders transferring money into accounts, buying all sorts of commodities which is being tracked down as we speak, right now ~60% we know where it is...
6. problem with the SEC and DTTC is that they are basically being allowed to function without taking any responsibility and each blaming the other.
7. Last but not least the White House for ignoring such a huge breach of security even though it was on the front page of the Washington Post...one never knows if this money is in fact being used for Terrorist acts...
We don't really know where the rest of the money has gone do we ?
So you all agree we have assets LOL
As everyone stated UC could not declare Bankruptcy !
Sounds like everyone on this bb is contradicting themselves...
I won't go into the details but everyone seemed to think that CMKX was worthless...
As of todays news we can now go after these assett's as well.
That is " SEAENA, INC. " :)
CMKX is a sleeping Giant ! Don't you agree now ?
Easy call it an accidental fire, tons of companies do it that way hence it all went up in smoke poof. Come on use your imagination. You know he could have done it.
Birdfeather LOL I thought it was Chief Bigfeather
You know he was there because there are a lot of feathers blowing in the wind and on the water, the proof is in the pudding. He is just hiding just like UC. ha ha ha
But in all honesty UC could have easily declared bankruptcy but didn't Why ?
It would make all things go away ! Don't you think ?
Kevin knows he is not up for the job as we are about to move forward, so he is stepping down to let someone who will be ready for this task to take a leading role. Can't wait.
I'll give him this much he has kept us in the loop to the best of his abilities.
This should give you all something to think about !!!
MAHEU: It was Bill Frizzell and John Martin and Don. As I say, I concur with you, I trust Bill with anything. There’s never been a doubt in my mind that his whole participation was to protect the stockholders.
FAULK: I agree with that. And the same thing with John…
MAHEU: Exactly...and West too.
Kevin our current CEO was also MAHEU's friend.
What we need to be concerned about is that the new CEO is not someone with a bad agenda, sent in by the crooks to ruin CMKX.
I certainly believe " Trust must be #1" when they hire this guy !
Its going to be a tough call for sure.
Don't you agree ?
Looks like were going to get paid!
Eton Properties Corp.
Eton Properties Philippines, Inc. (EPPI)
is the global real estate brand of the Lucio Tan Group of Companies, one of the Philippines’ biggest and well-established business conglomerates.
EPPI is a prestige property development company specializing in high-end and mid-income luxury residences, state-of-the-art IT and BPO office developments, and township projects. EPPI draws from the impressive track record of its counterpart Eton Properties Limited in Hong Kong and mainland China and is well on its way to becoming one of the leading property developers in the country.
Many believe what is now taking place with CMKX are the steps needed before shareholders are paid restitution for the damages they believe are no proven by the SEC in the below litigation. It will be nice if this is true but until something like that happens I'll remain optimistic but not 100%. "Show Me The Money"
SEC Charges Fourteen Defendants In Scheme To Issue And Sell Unregistered CMKM Diamonds Stock
http://www.sec.gov/litigation/litreleases/2008/lr20519.htm
Many have waited for this event. What it means to shareholders is the SEC admits we have been damaged. Read it closely and you will start to question the contents. It's a Civil Action so none of those named will face jail time but it's a serious allegation. I personally believe it to be true and I believe Urban took the fall and it was arranged.
Case 07-A-538649-B Status ACTIVE
Plaintiff CMKM Diamonds Inc Attorney Koch, David R.
Defendant Desormeau, Dave Attorney Pro Se
Judge Denton, Mark R. Dept. 13
Filed Date 03/30/2007 Closed Date
Last Hear 01/28/2008 For PLTF CMKM'S NOTICE OF MOTION AND MOTION FOR LEAVE TO AMEND COMPLAINT/7
Outcome GRANTED
Next Hear 04/21/2008 at 09:00 AM For DEFT'S ETON PROPERTIES CORP'S MOTION TO EXPUNGE LIS PENDENS /8
34 trust
ABDU 1,000,000,000
AGAP Serene 6,659,000,000
Alberta Resource Consortium 12,000,000,000
Albert Finch and Associates 8,000,000,000
Aruma Mining Inc 2,070,000,000
Barrington Foods Trust 200,000,000
Bazarro Gears 1,070,000,000
Berama Giorgio 3,756,168,000
British Columbia Mining Syndicate 8,000,000,000
Broadleaf Capital Trust 200,000,000
Canadian Tundra Resources 2,300,000,000
Chen Trust 1,100,000,000
Anita Cohen 4,000,000,000
Consistorium Patruum 7,140,000,000
Dela norte Trading Langley 4,391,500,000
Del la Norte Trading (Vegas) 400,000,000
Docket Reporting Services 8,000,000,000
Doyle Trust 4,400,000,000
Elan First Merchant (Langley) 2,183,009,571
Elan First Merchant (Vegas) 1,080,000,000
Eleta Brunelle (Langley) 1,972,084,000
Eleta Brunelle (Langley) 140,056,000
Jules Englehardt Trust 4,760,000,000
Eton Properties 30,958,346,596
Fastraxx 200,000,000
Faza Gee Industrial 4,346,465,996
Feasibility Studies International 714,000,000
Feasibility Mining Services 6,000,000,000
First Colony Merchant 20,000,000
Futula Alloys Inc. 1,500,000,000
Futula Alloys Inc. (Vegas) 240,000,000
Giorgio Metals 2,070,000,000
GM Steel Trust 23,850,000,000
Guardian Security Trust 200,000,000
Hiaget Gears 1,500,000,000
Huntion Trading 2,331,033,600
Inde Enterprises (Vegas) 327,000,000
Inde Enterprises (Langley) 1,220,000,000
Industrichem Trust 200,000,000
Inov8mobile Trust 200,000,000
ITC trust 200,000,000
Jasmine Tree Farms (Langley) 1,070,000,000
John Di Properties 6,940,000,000
Jt Trust 1,500,000,000
Juina Mining Trust 200,000,000
Jules Englehardt 4,760,000,000
Jules Englehardt Inc 1,600,000,000
Jules Englehardt Inc. Trust 465,500,000
Kart Trust 3,000,000,000
Jeannie Kinney 8,000,000,000
Kolba Meadmakers (Langley) 870,000,000
Kolba Meadmakers (Vegas) 80,000,000
Lajolla Leathers 870,000,000
Loan and Development Corporation 1,657,142,857
Lajolla Leathers (Vegas) 80,000,000
Mantica Trust 200,000,000
McClendon Transportation Trust 200,000,000
MCM Trust 1,500,000,000
Mineral West Associates 12,000,000,000
Moncom Enterprises (Langley) 9,704,382,283
NoAngel Glass (Langley) 950,000,000
Oles Books 1,070,000,000
Ortech Trust 200,000,000
Patruum Services 6,000,000,000
PTI Trust 27,715,067,030
Quapple Toffee (Langley) 950,000,000
Reginella Tackle Inc. 950,000,000
Anthony Rick 6,000,000
Anthony Rick acct 2 1,600,000,000
Eton Properties Anthony / Ormstead 400,000,000
Frank Ormstead 6,000,000
Sandias Azucara 500,000,000
Saskatchewan Mineral Developments 8,000,000,000
Shareholder Relations USA 7,295,250,000
Suerlan Gezebos 1,070,000,000
Tobian Trading (Langley) 8,166,394,407
Tobian Trading (Vegas) 160,000,000
Vidmar Limited Trust 3,500,000,000
Viford Trading (Langley) 5,252,112,308
Viford Trading Trust (Vegas) 134,900,000
Wakefield Services Corporation 16,262,858
Why are the Bashers here !!!
You see its much simpler than we all think "If CMKX goes out of business or declares bankruptcy, you will not be able to recover your money—even if an arbitrator or a court rules in your favor."
Hence they are discouraging everyone to just give up.
On the other hand we know that Uranium has been found on the original Claims and we should be able to recover them due to the criminal acts that have taken place and no Judge will want to challange this.
CMKX To DA MOON
What % of our investment/ cut does everyone along the way get when we put in our order through the Electronic Broker ?
It would be interesting to know how our money is being used.
I'm currious how much of the 64 Million was used to secure our investment... LOL
Yes I like the way the SEC states their regulations...
They always sound like this If you do this we may get you but if we don't feel like it or we happen to be blind we won't notice
NICE attitude ! LOL
Where is Chief Alec now ? LOL
Thats rediculous thats like saying whell you're just someone who has $1000 in your account so we don't care about you and if some employee happens to make your money vanish too bad !!!
When a Public Company trades millions of $$$$$$$$ that must raise flags otherwise whats the point of having the SEC ?
May as well hire a bunch of Blind Policeman LOL
Thanks I do recall this, now it makes sense.
They gave him what looked like the least shorted month.
They knew exactly what information to feed Bill but it won't help them...
Full Room of Monkeys using old Typewriters = SEC
"The law limits trading suspensions to 10 days. The SEC didn't "allow" anything. The SEC does not investigate thefts, that is the job of the DOJ."
The same old story the SEC slags off and says its the DOJ job, and vice versa. LOL
Full room of Monkey using old Typewriters = SEC
They should, they had to go through the MM's, the TA, the Banks, and legal documents were signed with a smile :)
It sounds like the SEC is not being Proactive at all, and it expains why they don't have enough people to do all the work, its piling up faster than you can say MONKEY. At this rate they won't keep up with a single days data.
Its creepy how they function, and it sounds odd they need to be handed something in their first otherwise they are blind.
Like I said the SEC is like a Blind Policeman. LOL
No no wait its like a full room of Monkeys using a thousand typewriters LOL
If the SEC has regulations they want to be followed then basic information like more than 500 shareholders or $$$
is crazy not have access in live time with the current age of technology.
Let me give you an example of what a simple organization can do in Canada called Employement Insurance, in a matter of seconds they will know if you board a plane and are collecting money from them when you're not employed.
Don't you think the SEC needs to catch up to the technology now that its all electronic ? How much money are we the investors losing daily, and yet it would only cost them a few million dollars to protect the public ?
Please...........
The SEC should be named SUC
Blind POLICE !
The only positive thing is that they reforming but at whose cost ? Ours !
It all depend on how you look at it, it was still CMKX who made the decision.
The SEC is like a Blind Policeman !
He's got a point !!!
The SEC suspends CMKX over filing an incorrect number of shareholders, yet it took them how long to realize this fact?
Secondly they allowed CMKX to trade again without further investigating theft of Millions of dollars?
Its their job to be the gatekeepers right ? Yet they can't handle the most basic things like knowing number of shareholders, millions of dollars going to peoples accounts, and the list goes on and on including all the filing that took place right under their nose with all the dividends we have received. Give me a break they SUCKED !
The SEC is like a Blind Policeman or a Police Dog that can't smell and is death!
Check this out....
CMKX is related to " SEAENA, INC. " ?
Just by accident on the SEC website do you guys remember what role they play with CMKX ?
1181 Grier Drive, Suite B
LAS VEGAS, NEVADA 89119
(702) 740-4616
March 6, 2008
Michael Moran, Accounting Branch Chief
United States
Securities and Exchange Commission
100 F Street, N.E.
Washington, D.C. 20549-3561
RE:
Seaena, Inc.
Your Letter of November 30, 2007
Form 10-KSB for Fiscal Year Ended December 31, 2006
Filed April 6, 2007
Form 10-QSB for the Period Ended September 30, 2007
Filed November 14, 2007
File No.’s 000-29781
Dear Mr. Michael Moran:
This correspondence is in response to your letter dated November 30, 2007 in reference to our filing of the form 10- KSB for the fiscal year ended December 31, 2006 Filed April 6, 2007 and Form 10-QSB for the period ended September 30, 2007 Filed November 14, 2007 on behalf of Seaena, Inc., file No. 000-29781.
Form 10-KSB for the Fiscal Year Ended December 31, 2006
Item 6 Managements’ Discussion and Analysis or Plan of Operation, page 11
Critical Accounting Policies and Estimates, page 13
1. Please tell us why there is no deferred revenue on the balance sheet at December 31, 2006. Given that you no longer lease machines, tell us why you believe that this accounting policy is critical to your company. Tell us what were the significant estimates utilized by management in calculating deferred revenue. Tell us the alternative accounting treatments permitted under GAAP.
Answer:
Deferred revenue, historically was calculated pursuant to SFAS 13, and based on pre-paid lease payments received from our customers pursuant to the machine lease agreement in effect at the time. During the year ended December 31, 2006 all lease
--------------------------------------------------------------------------------
agreements had fully expired or were cancelled and no new leases had been entered into during the year thus eliminating any deferred revenue at December 31, 2006. We included deferred revenue as a critical accounting pronouncement given the materiality of the historic deferred revenue and the potential for significant future deferrals. In the future, we will omit the disclosure when it is not relevant to the financial statements as presented.
Stock based Transactions, page 14
2.
Disclose significant assumptions and provide a sensitivity analysis. See SAB Topic 14.M.
Answer:
We acknowledge the commission’s desire for a more comprehensive disclosure as prescribed by SAB Topic 14 with respect to the implementation of SFAS 123R. During the year ended December 31, 2006, our share-based compensation totaled $4,577 and was not impacted by the adoption of SFAS 123R. However, as requested, our future disclosures will be revised to include the following:
The Company has chosen to apply SFAS 123R on a modified prospective basis. This approach will not impact current and future reporting periods for share based transactions issued prior to the implementation of this standard. Furthermore, the Company had no outstanding stock options or warrants which would have caused a difference in the reporting periods under the old and the new method of accounting for stock based transactions.
Intangible Assets, page 14
3. Please provide quantification of associated intangible asset balances and any impairment losses recorded in the financial statements. Also disclose the significant assumptions you have used in assessing the recoverability of definite lived intangible assets as well as the fair value of goodwill.
Answer:
We have applied an impairment test as prescribe under guidance of SFAS 144 whereby we computed the net present value of future cash flows expected to be derived from each of our intangible assets. The results of our impairment analysis indicated the carrying value of each equaled or was less than the expected net future cash flow with one exception, which was specific to the goodwill acquired through the acquisition of UC Laser. Subsequent to the acquisition of UC Laser, it was discovered that the operations of UC Laser in Israel were substantially more difficult to sustain. As a result, the original value of the goodwill could no longer be substantiated. We therefore determined, as dictated under the guidance set forth in SFAS 144, the entire balance to be impaired.
Results of Operations, page 14
4. The current disclosure comparing consolidated revenue on a year to year basis lacks any analysis of your operating performance. In future filings please expand managements’ discussion to include financial measures and variables that management considers in its evaluation of revenue and results of operations. For example, you should discuss the operational
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results and material changes affected by customer classes such as corporate, colleges, infinity buying clubs and independent retail kiosks already disclosed in the filing. Also discuss and quantify the material changes within consolidated revenue caused by changes in product sales, machine sales and royalty revenue. For instance, explain the impact to your business caused by the decision to sell laser equipment rather than lease to licensees. See Item 303(b) (1) of Regulation S-B and SEC Release 33-8350. Please show us what your revised disclosure looks like.
Answer:
Respectfully, upon review of the SEC Release 33-8350 and Item 303(b) (1) of Regulation S-B, we acknowledge the commissions request for more comprehensive discussion with respect to our comparative changes in revenue. We further understand the need to provide beneficial and comprehensive information for the reader throughout our discussion and analysis. Our future disclosure will incorporate the guidance and interpretation as discussed in the aforementioned documents as illustrated below.
Our revenue for the year ended December 31, 2007 totaled $3,279,037 compared to $4,272,495 in 2006 representing a decline in gross revenue of $993,458. In 2007, approximately 63% of our total revenue was attributable to custom orders for corporate specialty and promotional items, which totaled approximately $2,082,967 compared to $2,478,000 or 58% of total revenue in 2006. We believe the decrease of $395,033 or 16% in custom orders relates directly to additional market competition. In an effort to generate additional revenue, we are focusing additional marketing efforts in the photo industry as well as developing relationships with similar companies whereby we can expand our product line and distribution channels. Our revenue generated from royalties has remained constant at $237,495 in 2007 compared to $242,715 in 2006. We anticipate royalties to remain constant throughout the upcoming year. The remainder of our revenue has been generated through sales of raw materials, glass etching, and add-on products.
Item 13 Exhibits, page 26
5. Please advise or include a list of all subsidiaries in your future filings. We note your consolidation policy lists several entities as subsidiaries. See Item 601(a) (21) of Regulation S-B.
Answer:
We have reviewed the requirements as prescribe by Item 601(a) (21) of Regulation S-B and have noted the deficiency in compliance. Our future filings will include as an exhibit under item 21, each subsidiaries name, state of incorporation or other jurisdictional identification and any alternate name the subsidiary may be doing business as where applicable. Our current subsidiaries include the following:
Crystalix USA Group, a corporation domiciled in the state of Nevada, 100% wholly owned
Lazer-Tek Designs, Ltd., a corporation domiciled in the state of Nevada, 100% wholly owned
Lazer-Tek Designs, Inc., a corporation domiciled in the state of Nevada, 100% wholly owned
UC Laser, Ltd., a corporation domiciled in the state of Delaware, 100% wholly owned
Laser Designs International, LLC, a limited liability company domiciled in the state of California, 51% owned
--------------------------------------------------------------------------------
Consolidated Balance Sheet, page F-2
6.
Please advise or revise Class B to indicate it is a convertible preferred security.
Answer:
Upon review of the guidance provided in FAS-129, Disclosure Information about Capital Structure, we believe we have complied with the all requirements as set forth in the available guidance. Pursuant to paragraphs 4 and 5, we have disclosed within our financial statements a description of voting rights, liquidation preferences, and all details relating to its convertibility including the number of common shares and resulting percentage of ownership upon conversion of each specific issuance. Further, we have clearly identified each series of preferred, the authorized number of shares and the current outstanding on the face of our balance sheet.
7. Please tell us how you account for the 49% minority owned interest in LDI, LLC and where it is presented in your financial position and results of operations.
Answer:
In August 2005, we acquired a 51% interest in Laser Designs International, LLC (“LDI”). Pursuant to Rule 3A-02 of Regulation S-X, we have presented consolidated financial statements, which include the activity of LDI. During the years ended December 31, 2006 and 2005, LDI had net losses, where the losses applicable to the minority exceed the minority interest, therefore all activity was attributable to the parent in accordance with ARB 51.
Consolidated Statements of Stockholders’ Equity, page F-4
8. Please tell us your consideration of any existing beneficial conversion feature and deemed dividend on the issuance of Class B preferred shares. It looks as if the fair value of common stock exceeds the conversion price of preferred shares into common shares as of March 31, 2006 or the date you completed the acquisition. Please be detailed in your response and include the calculation used to reach your conclusion as well as support for fair values and other assumptions made by management.
Answer:
Our Agreement to acquire UC Laser was entered into on, December 29, 2005 with an effective date of January 1, 2006. The market price of our common stock on the effective date of the agreement was $0.04 per share. We relied on the guidance of SFAS 141 in our accounting treatment of the acquisition as well as our determination in the non-existence of a beneficial conversion. We tested the beneficial conversion as follows:
Value of preferred shares
$ 7,968,783/
Number of preferred shares
2,276,795
Cost of each preferred shares
$
3.50/
--------------------------------------------------------------------------------
Converted to common
2.857
Cost per common share
$
1.23
Market value of common shares
$
0.04
Value of conversion
$
(1.19)
Consolidated Statements of Cash Flows, page F-5
9. Please disclose all non-cash investing and financing activities in the periods presented, as applicable. For example, we do not see any narrative or summarized schedule of the shares issued for U.S. Laser, Ltd. or surrendered for equipment and Crystalix Europe.
Answer:
We concur with the Commission’s request to include all required non-cash supplemental disclosure as required by SFAS 95 and will revise all future statements of cash flows accordingly.
Note 1 – Organization and Significant Accounting Policies, page F-6
10.
Tell us your consideration of SFAS No. 131.
Answer:
Respectfully, we have considered SFAS No. 131 and do not believe that any of the subsidiaries, or various operating activities constitute a business segment for which separate disclosure is possible under SFAS No. 131. Each entity operates in much the same manner as the next, and the product lines are not exclusive to the point that a separate operating segment can be defined. It is further our understanding under Regulation S-B, we were provided a level of relief from the segmented disclosure requirements as found in Regulation S-K.
Stock Splits, page F-7
11. Please tell us how the pre-split 300 million authorized common shares converts to 50 million on a post split basis. We note the reverse split ratio was 1:35.
Answer:
On March 31, 2006, we filed an amendment to our Articles of Incorporation whereby reducing our Authorized from 300 million to 50 million. This action was independent of the 1:35 reverse as evidenced by the Definitive Information Statement dated March 6, 2006. We will enhance our future disclosure with respect to each item, for clarity on each event.
Goodwill and Intangible Assets, page F-10
12. Please tell us the amount of website costs capitalized and where it is presented in your balance sheet. It is not evident from your presentation or disclosure.
--------------------------------------------------------------------------------
Answer:
We had previously incurred website development costs of $73,488, which were fully amortized as of December 31, 2006. In review of our disclosure as presented in footnote 1 of our financial statements, we understand the necessity to modify the disclosure. We currently have not incurred any additional development costs as previously disclosed and will therefore eliminate in all future filings.
Revenue Recognition, page F-11
13. Your policy note discloses that laser equipment is leased while page 13 discloses laser equipment is sold and no longer leased. Please tell us if there is a discrepancy between these disclosures and revise any inaccurate disclosures to reflect the actual economics involved with laser equipment, as applicable.
Answer:
We acknowledge the lease revenue disclosure is presented in error, as it is a remnant of the previous method of operations that was mistakenly carried over to the 2006 Form 10-KSB. We will amend and replace with the applicable disclosure regarding the Machine Sales in our future filings.
Deferred Revenue, page F-12
14. Please confirm the deferred revenue discussed here is the customer deposit balance classified as a current liability. If so, please tell us why a portion of this balance is not classified as non-current given that deferred revenue on laser equipment leases is recognized over the term of the agreement and these leases typically have 5 year terms.
Answer:
The customer deposit balance represents the down payments received on the purchase of laser equipment to be delivered in less than 12 months. This is independent of machine lease agreements and the disclosure of deferred revenue. Our future filings will include under separate caption, deposits received for the purchase of equipment.
Note 2 – Acquisition and Disposition, page F-17
15. In the Form 8-K filed on April 5, 2006 you disclose U.C. Laser Ltd. financial statements and pro forma information will be disclosed in an amended filing. Please explain why you have not since filed the information and include an analysis that supports your conclusion that the financial statements and pro forma information were not required, as applicable. Please also include the acquisition of LDI, LLC in your response and include any references to the regulations to support your conclusions.
Answer:
--------------------------------------------------------------------------------
At the time of acquisition, we engaged the services of an independent foreign audit firm to complete audit of the financial statements in order to comply with our regulatory requirements. We have been unable to neither obtain the completed audit nor complete financial information necessary to seek an alternate firm. We are diligently perusing alternate avenues so that we may fulfill our reporting requirements. As of this time, there is uncertainty as to when we will be able to correct the situation.
16. Please advise or include the pro forma comparative financial information required by paragraphs 54 an 55 of SFAS No. 141 in your next annual filing.
Answer:
We acknowledge the pro forma requirement and will include them in our earliest possible filing upon resolution of our international audit and accounting problem.
Disposition, page F-18
17. Please tell us how you have complied with the requirement to disclose the carrying values of Crystalix Europe’s assets and liabilities. See paragraph 17.a. of SFAS No 144. Please advise or provide the required disclosure in your response.
Answer:
We have reviewed our disclosure, and acknowledge the omitted information as prescribed by SFAS-144. The carrying values of Crystalix Europe’s assets and liabilities at the time of disposition on October 5, 2005 were as follows:
Cash
$
19,953
Accounts Receivable, Net
102,909
Inventory, Consisting of Raw Materials
285,694
Other Current Assets
6,518
Equipment
112,546
InterCompany Payable, Crystalix
(905,984)
InterCompany Payable, LaserTek
(360,724)
Accounts Payable
(175,884)
Deferred Income
(181,961)
Accumulated Deficit
1,096,933
Note 8 – Stockholders’ Deficit, page F-20
18. Please explain why you accounted for the extinguishment of dept with CMKXTREME as a capital transaction. Specifically tell us how this party qualifies as a related party. If they do not qualify, please tell us why the difference between the reacquisition price, or common share fair values, and the net carrying amount of extinguished debt is recorded in conformance with GAAP. Please include the applicable GAAP to support your conclusion.
Answer:
--------------------------------------------------------------------------------
CMKXTREME is deemed a related party due to their substantial share position in Seaena, Inc. upon conversion, as well as, through the holdings of common owners of CMKX. The Company, therefore conservatively included the debt conversion as a capital transaction, rather than report a gain in the income statement.
Note 7 – Related Party, page F-20
19. Please describe the nature of the relationships between the Company and each of the related note holders. See paragraph 2.a. of SFAS No. 57. Please provide the revised disclosure in your response.
Answer:
The notes payable, related party are all to Kevin Ryan, CEO and majority shareholder. The revised disclosure will be as follows in our 2007 form 10-KSB:
NOTE 7 - NOTES PAYABLE - RELATED PARTY
The Company had notes payable to the Company’s CEO, in which principal balances totaled $3,421,072 and $3,056,072 as of the years ended December 31, 2007 and 2006, respectively. The notes accrue interest at a rate of 10% per annum and are payable upon demand. The Company recorded interest expense to related parties in the amount of $321,769 and $396,632 for the years ended December 31, 2007 and 2006, respectively.
Form 10-QSB for the Period Ended September 30, 2007
Item 3, Controls and Procedures, page 22
20. In your response please make a determination regarding the chief executive officer and chief financial officer conclusions of the effectiveness of disclosure controls and procedures, at the reasonable assurance level, as of the end of the period covered by this interim filing.
Answer:
We will include the following paragraph in our future 10-QSB filings, and represent that it was true as of 9/30/07 as well:
Our Chief Executive Officer, Kevin T. Ryan and Principal Financial Officer, Doug E. Lee evaluated the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as amended) as of the end of the period covered by this Report. Based on the evaluation, Mr. Ryan and Mr. Lee concluded that our disclosure controls and procedures are effective in timely alerting each of them to material information relating to us (including our consolidated subsidiaries) required to be included in our periodic SEC filings.
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In connection with the response to your comments, Seaena, Inc. (the “Company”) acknowledges that:
•
The Company is responsible for the adequacy and accuracy of the disclosure in filings;
•
Staff Comments or changes to disclosure in response to staff comments in the filings reviewed by the staff do not foreclose the Commission from taking any action with respect to the filing; and
•
The Company may not assert staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States.
We believe that our response addresses all of your concerns. If you have any additional questions, please do not hesitate to contact the undersigned at 702-740-4616.
Sincerely,
/s/Kevin T. Ryan
Kevin T. Ryan,
Chief Executive Officer
Seaena, Inc.
The SEC is like a Blind Policeman !
He's got a point !!!
The SEC suspends CMKX over not filing an incorrect number of shareholders, yet it took them how long to realize this fact?
Secondly they allowed CMKX to trade again without further investigating theft of Millions of dollars?
Its their job to be the gatekeepers right ? Yet they can't handle the most basic things like knowing number of shareholders, millions of dollars going to peoples accounts, and the list goes on and on including all the filing that took place right under their nose with all the dividends we have received. Give me a break they SUCKED !
The SEC is like a policeman that is blind !