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If most investors look on their trading statments, they will see that even the SEC was making money off our trades. Might not be all that much, but you still took money from the investor.
We should give credit to the DTC as they took extraordinary step of requiring their “participants” (brokers) to remove all of their remaining CMKX shares from their treasury.
Don’t buyer’s of certificate’s have to pay real money for what they think is real stock’s in companies..
Some people have the nerve to blame the shareholder’s for buying into stock’s they think have a great chance to make some money and although the vast majority of short sales are legal, abusive short sale practices are illegal.
How many times Wall Street crooks have quietly agreed to pay penalties .
Folks you all can say what you want, along with the SEC, DTCC, AND MM’S. NSS is a big problem, and it will not go away.
I think that soon, people will start to see that the market is not as safe as everyone thinks it is.
Why did ex-SEC lawyer Roger Glen hired by Urban raise the AS?
The greedy crooked market makers & brokers got so fat at the table they couldn’t get out the door.
Why would an ex-FBI agent named Robert Mahue be on the board of directors of CMKM Diamonds?
Was to catch those fat greedy market makers & brokers they locked them in with a cert pull.
They are not getting away from the NAKED SHORT SELLING that took place with this PINKY " CMKX ".
WE SHAREHOLDERS waited so long to see this come out.
" 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. "
It appears that Bill certainly knows the count if the Transfer agent has all the CMKM securities.
It also explains why so many Brokers were willing to offer to delete our shares from our accounts ... actually suggesting over and over...
Was this your experience every time you called them to ask about requesting certs...they said...
" you can not request certs but if you like we'd be glad to delete your shares " and in the back they were thinking and solve our problems he he he how evil and sneeky
It should not surprise us if some people took the bait...
The Brokers realize they are on the line when it comes to NSS shares and will be expected to pay $$$$$$$$
It should not surprise us if we take action once the new CMKX CEO is announced !
Request for Investigation of Brokerage Conduct Involving CMKM Distribution
So we have two issues #1 insiders created fake Certs and stole
#2 NSS " Brokers are not cooperating "
Why does the government not step in since the SEC is unable to deal with this ?
All Brokers who have not complied should be investigated !
Dear Sir or Madam:
On November 5, 2005, a final order was entered by the SEC delisting the securities of CMKM Diamonds, Inc. (hereafter CMKM) Shortly thereafter, CMKM management appointed a “Task Force” to assist the company in determining their bonafide shareholders. I was invited to participate on this Task Force along with Attorney Don Stoecklein and Bob Maheu, a former board member of CMKM. The Task Force had a single job of identifying all bonafide shareholders of CMKM. Prior to delisting, the company had issued and outstanding 703 billion shares. There was evidence of billions of failed deliveries in this stock at the time the trading in this security was halted by the SEC. Trading was halted by the SEC for non reporting violations.
Shortly after delisting, CMKM sold a major company asset consisting of a large number of mineral claims in Canada. The sale of this asset resulted in the company receiving 45,000,000 shares of an OTCBB stock called Entourage Mining Ltd. (ETGMF) The purchase agreement stipulated that such shares shall be distributed to the shareholders of CMKM. Recent press releases state that Entourage has a drilling program in operation and there is expectation of future development of the claims which were once owned by CMKM. The Entourage stock now trades in the .20 to .30 USD range. There is evidence of potential appreciation of this Entourage stock.
Due to the indisputable evidence of large numbers of failed deliveries in this stock, CMKM elected to distribute the 45,000,000 shares of Entourage stock to all bonafide shareholders in what was described at that time as a windup distribution. CMKM has informed shareholders that only shareholders with valid certificates from the official company transfer agent will receive their pro rata distribution of Entourage stock. In November of 2005 CMKM shareholders began requesting certs from their brokers. CMKM is currently a private Nevada corporation in good standing per Nevada state statutes.
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.”.
I am making this complaint in my capacity as a volunteer on the Task Force appointed by the company to determine its bonafide shareholders. I do not represent the company in any legal capacity other than being a volunteer to assist CMKM in identifying its bonafide shareholders. My law office has been the depository for shareholders to send copies of their certs once they receive the same from their broker. My office has worked closely with the official company transfer agent as we continue to gather evidence of bonafide ownership of CMKM stock. Consequently this office has documented complaints from hundreds of shareholders who have been attempting to obtain certs from their brokers since November of 2005 but have been unable to do so. The litany of excuses being given by various broker dealers for the refusal to honor their customers request for certs continues ad nauseum. At least three deadlines have been established in an effort to obtain cooperation from various brokers and to accommodate shareholders who received late notices of the request by the company.
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.
CMKX is no longer a publicly traded company. Its stock has not been publicly traded since October 31, 2005 per order of the SEC. All shares should be held directly by the beneficial owners of the stock and not by any securities intermediaries. This is not a defunct company or a no asset company. It is however clearly not a publicly traded security. As set out above, a number of the claims owned by the company have recently been sold for a value of several million dollars based on the market price of the stock which was obtained for the sale of the assets. Management still exists and is active in its efforts to identify its shareholders. Thus, there is no issue concerning “worthless securities” at this time.
The only custodians of CMKM stock other than those shareholders who possess valid certs are the securities intermediaries. The term “securities intermediaries” is defined in the discussions of the enactment of 17 CFR 240 as amended. The comments and discussions about the ownership rights by securities intermediaries is pertinent to this request for an investigation. The comments by the SEC do not suggest that securities intermediaries (brokers) acquire the rights of beneficial owners or that such rights can be distributed or denied at the whim of the brokers.
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:
“We had your cert, but it is now lost. It will take us another 6 to 8 weeks to obtain another one.”
“This stock purchase was a book entry only and no certificate is available.”
“Your stock was classified as a worthless security and is no longer in your account.”
“Our clearing firm has not been able to deliver these certificates due to a backlog of requests at the transfer agency.”
“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.”
“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.”
“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.”
“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.”
“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.
“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.
It is my understanding of various SEC rulings and other regulatory holdings that the true beneficial owners are the only people or entities that own the stock and the rights package associated with stock ownership. Securities intermediaries are simply as their name implies. They are intermediaries. In the case of this Entourage distribution, the brokers have no rights to receive the distribution absent any proprietary holdings. Since CMKM is no longer a publicly traded company, it is my understanding that the brokers have no ownership interest and certainly would have no rights to ownership of the Entourage stock.
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.
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.
Sincerely,
Bill Frizzell
Member CMKM Task Force
Shareholder Attorney
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
The seriousness of this issue is now starting to become public and recently a hearing was scheduled by the United States Judiciary Committee to examine short selling activities of hedge funds and independent analysts. Unfortunately, the hearing was supposed to be held on June 20, 2006, but has since been postponed (http://judiciary.senate.gov/hearing.cfm?id=1953).
Unless failures to deliver are addressed by Congress, the International Community and the American Public will begin to lose faith and confidence in our markets causing harm to our economy. Concerns over this issue have been expressed by other companies, beyond CMKX, as this is not specifically related to CMKX.
The time is now to tell Congress it's time to do something about it. Please voice your opinion by signing this petition.
Sincerely,
http://www.petitiononline.com/cmkx2006/petition.html
http://sec.edgar-online.com/2005/10/24/0001077048-05-000578/Section3.asp
Under the terms of the agreement between CMKM and United Carina on October 23,
2004, CMKM was obligated to spend a total of $500,000 on exploration of the
Hatchet Lake properties over the 12 months from the date of the agreement. CMKM
does not have the necessary capital to meet this obligation and has therefore
defaulted under the terms of the agreement. Furthermore, due to the ongoing
Securities and Exchange Commission investigation currently being conducted, CMKM
has been unable to raise the necessary capital needed to meet the requirements
of the above mentioned agreement. Since CMKM was not able to meet its
obligations to United Carina, CMKM deemed it to be in the best interest of CMKM
to assign its interest in United Carina to Entourage as described in Item 1.01
above.
On October 20, 2005, the agreement between CMKM and United Carina was officially
terminated upon the signing of the Assignment Agreement with Entourage Mining.
There are no material early termination penalties as a result of the agreement
being terminated, but CMKM has consented to and agreed to hold harmless
Entourage for entering into the new agreement with United Carina.
Nevada Minerals Default
CMKM defaulted on its agreement with Nevada Minerals, Inc. dated July 19, 2004,
due to CMKM not being able to provide the capital needed for maintenance,
drilling, and exploration expenses for the Forte Diamond property of
Saskatchewan. On October 20, 2005, the agreement between CMKM and Nevada
Minerals was officially terminated upon the signing of the Mineral Property
Purchase Agreement between CMKM and Entourage. There are no material early
termination penalties as a result of the agreement being terminated.
So looks like they pocketed our money instead of keeping the mine !!!!!!!!!!!!!!
Although we did have valuable claims containing Uranium as was proved by Entourage. This is a fact !
Why did they let those lapse ?????? I don't understand how the individuals of these companies can not be held liable.
Entourage must be held liable for this failure.
Stupidity is no excuse.
I do recall something about that.
Its amazing they had all our money and we're unable to make payments.
Then they passed all our claims to Entourage which had valuable Uranium as they have identified and again now Entourage let our claims lapse.
What is going on are these companies out to ruin investors ?
These individuals should be charged and put in jail, although we know very well this will not be the case.
I guess we will see what is going to happen next with the new CEO being brought in. I certainly hope its someone who has some brains to turn things around.
Traders fear high and volatile prices could scare off gold jewellery buyers in Dubai, but analysts say a growing number of Western tourists will drive demand for the yellow metal higher.
What are you thoughs on buying Gold right now ?
Will the Olympics in China affect the price of Gold ?
http://en.beijing2008.cn/31/47/article212044731.shtml
http://en.beijing2008.cn/
BEIJING, Sept. 18) -- Two types of coins to commemorate the 29th Olympic Games will be issued by the People's Bank of China on September 20, it was announced in Beijing on Monday.
The products include a set of two base metal coins with a face value of one yuan each, and a set of six precious metal coins, including two made of 1/3 ounce of gold and four made of one ounce silver each. All these are legal tender in the People's Republic of China, according a statement released at a press conference jointly held by the Bank and the Beijing Organizing Committee for the Games of the XXIX Olympiad (BOCOG).
On the obverse of the base metal coins the emblem of the Beijing 2008 Olympic Games is engraved, together with the image of its main stadium -- the National Stadium and its tracks. Total mintage is limited to 10 million pieces, which will be in circulation concurrently with the current RMB bills and coins of the same denomination.
The obverse of the precious metal coins features the emblem of the Olympics and a pair of traditional Chinese dragons. The gold coins have a face value of 150 yuan and the silver coins 10 yuan. The maximum mintage stands at 60,000 and 160,000 for gold and silver coins respectively.
According to an agreement between the People's Bank and BOCOG, two more sets of coins to commemorate the 29th Olympic Games will be issued in 2007 and 2008.
The numismatic program has become a tradition of the Olympic Games with the first coin issued in Finland on the occasion of the Helsinki 1952 Games. Since then, the Games have seen many coin productions, usually based on themes related to sports or art and culture of the host country.
China has already issued commemorative precious metal coins, pins and gold bars on the theme related to the 29th Olympiad since 2001 when Beijing was awarded the right to host the 2008 Games.
What ever happened to our CMKX Gold mine ?
The old PR:
CMKM Diamonds, Inc. Announces the Success of Its Integrated Business Plan Goes Into Effect in Ecuador
Business Wire, Oct 19, 2004 E-mail Print Link PORTOVELO, Ecuador -- Please replace the release with the following corrected version due to multiple revisions.
The corrected release reads:
CMKM DIAMONDS, INC. ANNOUNCES THE SUCCESS OF ITS INTEGRATED BUSINESS PLAN GOES INTO EFFECT IN ECUADOR
Related Results
CMKM Diamonds, Inc. Announces the Success of Its Integrated Business Plan Goe...
CMKM Diamonds Inc. and Minera Nevada S.A. Announce First Ore Production and S... CMKM Diamonds, Inc. (Pink Sheets:CMKX) headed by its CEO Urban Casavant and his advisory team accompanied by the company's SEC attorney Roger Glenn successfully concluded the major ownership acquisition of the established American Mine here in Portovelo today. CMKM Diamonds and its operating partner Minera Nevada SA a subsidiary of Nevada Minerals, Inc. of Las Vegas, Nevada will manage a major corridor of gold production inside this region. The current yield coming through the American Mine is 40 tons of gold ore on a daily average. Alejandro Diaz, President of Minera Nevada SA exclaims, "Within the next 6 working weeks the production will raise to a steady 80 tons of gold ore per work day as we start our second shift of underground mining team." Diaz continues, "All will be done to ramp the mining production to complete our obligations to Yellow River and US Canadian Minerals, Inc. (OTCBB: UCAD) for their addition of two additional mills to Yellow River and the new production facility of the Buza coming on line over the next 90 days to build up to 300 tons of gold ore processing per day to satisfy the volume increase of the American Mine build up of production."
The advisory team had members from legal, accounting, operations and feasibility to assess all probabilities on expansion and further development of other opportunities from CMKX, UCAD, and Nevada Minerals. The team was introduced to the on ground executive team that will lead the way through the start up phase one process. US Canadian Minerals CEO Rendal Williams explains, "UCAD has considerable time and dollars invested here in South America, especially Ecuador. We believe there is a major shift of technologies that this region has been starving for and we as UCAD plan to lead the way and share this knowledge with those who wish to expand their current ore production."
The American Mine sits inside the Zaruma-Portovelo Mining District. This district has a recorded historic production of more than 4.5 million ounces of gold and 19 million ounces of silver, as well as significant tonnages of copper, zinc and lead concentrates.
The American Mine located in Portovelo, Ecuador consists of a 100 ton hoist system that will from up to the depth of one of its 13 levels, deliver gold ore to the surface to a 35 ton drop shoot that will be supported by a jaw crusher and a cone crusher to minimize processing time for expedited production flow at the Yellow River Processing Plant. Urban Casavant CEO of CMKX said, "Through the combined efforts of all the parties in this venture we have gathered a new frontier for the well being of our shareholders and company alike. The company will be moving rapidly into a revenue model here in the fourth quarter."
People tend to say things they shouldn't when you use the phone... I'll leave the rest to your imagination...
Has anyone heard any news on the new CMKX CEO ?
Rumors are that he has already been selected.
It was TD Waterhouse...
Ameritrade Holding Corp.who completed its acquisition of TD Waterhouse Group Inc.’s U.S.
They already paid Millions but this was not something made public, currious.
Petition to Congress...
To: U.S. Congress
CMKX Shareholders, 39,000+ strong, are uniting against failures to deliver against our stock and to create recognition of this serious problem in our financial markets.
On May 31, 2006, Bill Frizzell, member of the CMKM Task Force and shareholder attorney, submitted a complaint letter to the NASD Investor Complaint Center in regards to this serious problem.
You can go to the URL to submit a petition to the US Congress:
http://www.petitiononline.com/cmkx2006/petition.html
Eventually but I actually had to speak with the VIP of Media relations to get things done.
What he told me is why I do believe we have NSS but its something that could get him into trouble he asked on the phone not to say anything and I will respect that.
If there was no NSS why did everyone give us such a hard time with the certs ? Nothing to hide RIGHT:)
By the way Bill said he is still tracking down our shares, because many organizations are still not cooperating.
Why would they not cooperate ? Unless...
Someone with a legal background should have all this information available with ZERO effort, yet its taking us years to get to the bottom of all our shares.
There is something wrong with this picture.
The fact is " it is OUR NSS shares that are going to be the hardest to track down", because those are the ones everyone will refuse to admit to and give you a hard time with obtaining the information. Amazing how my own broker kept telling yes telling me that we want to delete your shares from your account because we are so good to you. Then they lied how they could only issue me 9,999,999 certs and finally told me they could give me one large Certificate. Last but not least if your broker tells you that they can only put in a transaction of 0.0001 that is bull...... they can go lower... they just don't want to
We will WIN !!!!!!!!!!!
No what I said is that I'm losing trust in the stock market and how it is being protected from illegal activity.
When you invest in a company you expect some basic security, sure they may be lying about a lot of things but you should feel confident that the money you invest is not being deposited in peoples personal accounts.
Just like when you keep money in your bank you certainly don't want them pocketing the money you believe is to kept safely in your account.
There are certain security measures that must be in place.
The same goes for the stock market so don't tell people that its your problem its not. Maybe you should ask think about that before posting your rediculous concepts about how we have no clue. As for my idea it would certainly be nice to know on a daily basis the exact number of shares of all the shareholders, even if you can't see their names. Although proving NSS may be difficult as you stated so you have a point.
Feel free to suggest how you would prevent NSS from taking place ? What we currently have is not working.
We would not have this problem if the public could access the complete list of all the shareholders at the end of any given day for a specified penny stock. All the shareholders that currenty own a particular stock.
The actual names of these individuals would be hidden as a code like first letter of first name, + first letter of last name and a bunch of digits after that hence no one would could be identified but we could easily see if NSS is taking place. This would solve all the problems and we would not be here right now.
Why not ? How hard would it be to give the shareholders this access ? (Unless someone is hiding something)
There would be no NSS taking place because the public would keep an eye out on their investment. Right now our trust has gone down to ZERO and look at whats happening.
Who really pumped CMKX.. WHO ATTRACTED 40,000+ Shareholders
Mr. Cox:
If the SEC wants to accuse a few to cover up its own failures as a regulatory agency to protect shareholders it is a sad time in American History of how truly bad the system is. A regulatory system that thinks the American public cannot see the truth about an agency that seems to think the investing public is just plain stupid and will buy any story to COVER UP their own inefficiency as a regulatory body.
Ask any shareholder what really cause them to buy and you will hear 99 out of 100 say Roger Glen and Robert Mahue... The huge trading in CMKX stock started with the hiring Of . Roger Glenn of Edwards Angell, ..and continued its record trading volume as Robert Mahue took the reins and even became a board Member..
In the June 16, 2004 Pr a quote from Roger Glenn of Edwards Angell
"Glenn stated, "We have been retained by the company to resolve the problems it has been facing, and we expect to devote significant efforts immediately toward that goal. The company has advised us that it is dedicated to complying fully with all requirements on it, and we are pleased to act as counsel to it on that basis."
(Let me add here, we are very aware of Mr. Glenn writing Sarbanes-Oxley).
CMKM Diamonds, Inc. Announces New Transfer Agent.
Quote from Roger Glen in that PR
D. Roger Glenn of Edwards Angell, attorneys for CMKM Diamonds, Inc. said "The Company is proud to announce this relationship with Pacific Stock Transfer .It has a fine reputation as a transfer agent, and the Company is looking forward to working with it in the future. The Company is confident that Pacific Stock Transfer will process transactions in the Company's stock accurately and quickly.
CMKM Diamonds Launches National Television Exposure and Awareness Campaign
Business Wire, July 14, 2004
The volume of CMKX stock was caused by 2 very well known and respected individuals. Roger GLEN of Edwards Angell and Robert Mahue .. Neither one formally announced any issues or Deficiencies with CMKM Diamonds or Urban Casavant.. So SEC if you want to use the word PUMP for one the basis of your suit why has neither one of the two individuals mentioned been included in the suit you prepared. You (SEC) claim the stock was tainted yet thousands of brokers all of the world sold it to their clients but you chose to list only one.. It seems you have conveniently excluded the two largest sellers of CMKX STOCK in your suit, Ameritrade and Etrade. Who do you really protect large institutions or the common shareholder. I think any American can see through your agenda of brainwashing... I myself cannot get my CIM cert with one of those 2 firms mentioned.. To put it bluntly they lie and that was verified when they refused a 3 way call to the TA. Many accounts had shares of CMKX and CIM liquidated by those 2 firms mentioned claiming the stock was worthless. and claiming at times CMKM was no longer in business... We all as shareholders know that is not a true statement. If anything you as an agency should be investigated by Congress for your failure to run an organization on a level playing field without the influence of special interest groups and large financial organizations who fleece the American citizen of their hard earned money. This corruption goes much deeper then the few you accuse in your suit . Look at what is happening to the DECLINING value of the American Dollar.. We have become slaves to the very people who we pay tax dollars to protect us.. We have become debtors to your protection of special interest groups all the way up to hedge funds and Banks that hide IOU's as derivatives that they never pay back... Its just saved for the shredder when a cover up is completed.. Some say a few good people are protecting us and hopefully there a few good people in the system that will turn this around. American Investors are losing confidence in the Markets and God help us all if the same protocol continues to protect the system at all costs including cover-ups and not the American investor for it is bound for economic catastrophe and all will be lost.. Come on SEC the volume in CMKX was generated by two respected individuals Roger Glen AND Robert Mahue.. Yes the stock was pumped but it would have been futile if not for the involvement of both of these Men Fact is after the hiring of Roger Glen the race circuit and pump began.. Let us all not forget it was Roger Glens opinion letter that increased the Authorized from 500 billion to 800 billion yet he was never mentioned in your suit.. What about Robert Mahues statements in Prs and 8ks.. The News media should convey the real truth but seems to have been controlled. Many know the truth and many shareholders and others are well aware of the suit that is full of holes... And let me add a few more things here. Are you familiar with Donald Stocklein-Lawyer who has wrote numerous legal commentary on multiple proposed SEC Regs. ? I know you know who he is, because the SEC site has numerous evidence of all people involved with cmkm diamonds. WHY DID THE SEC CREATE ANTI-FRAUD REGULATION FOR NAKED SHORTING COMPANY STOCK, IF THERE IS NO COMPANY THAT IS NAKED SHORTED . IT MAKES NO SENSE SEC HAS NOT ANNOUNCED ONE COMPANY THAT HAS BEEN NSS'D SO WHY HAVE THIS REGULATION ? IT MUST HAVE HAPPENED, Do Your Job Will You.... Also, realize that I am an injured shareholder, along with my 40,000 + fellow cmkm diamonds shareholders. I will expect hearing from The Office of Collections and Distributions you announced in a PR, to have injured shareholders re-inbursed for being ripped off under your watch. Also, when will the DTC and DTCC be held accountable for their illicit activites approving the selling and buying of fails to deliver shares to brokerages and Real Indiviual Investors. And yes, many of us totally find it re-pulsive for any present or former SEC Commissioner to call the average American Investor stupid for trying to make a profit on the stocks we buy. Is there another reason for buying stocks, I guess only if your on the other side of investing shorting. The American People are Not as Stupid as your polls show LOL.
Interesting and this is how many shareholders feel!
Not entirely correct but the idea is good.
URL:
http://www.sec.gov/comments/s7-08-08/s70808-284.htm
UC and Edward were both involved and unless they return every penny its not smart to for them to walk on the streets.
There are many angry shareholders and although I'm not one of them, till we get the complete story I'd say the FBI should be protecting them for now.
When it comes to money and family people go crazy...
peace
I saw that too. Thanks for posting it. :)
Its hard to believe that some people would go on the blog and post their bashing even on there.
This is something only a Freek would do and who ever you are shame on you. Obviously a very troubled individual angry at the whole world, who will argue with the echoes in the mountains.
You may leave a message for Bob and familly:
http://www.lvrj.com/breaking_news/26284609.html#blogcomments?submitted=y
ps. I contacted Bill today and just so you know every shareholder who has requested a valid certificate from First Global our transfer agent in Las Vegas there is no need to send your Certs any longer.
They will have all the information they need about someone's cert directly from the Transfer Agent and are still working on getting a complete count of all shares, the biggest problem are the ones from over-sea, and not all brokers are cooperating completely.
LOL I think they do, remember there were billions of shares in transactions trading daily of just CMKX.
Maybe the MM's don't ...they never knew what hit them.
Yes Mr. NITE we know all about you ! LOL
Those were the good times. :)
DTTC is a Cash Cow:
The DTTC has successfully settled a record $1.86 quadrillion in
transactions in 2007 (Thus 1860 trillion)
In case you don't know...
1 Billion is 1,000,000,000
1 Trillion is 1,000,000,000,000
1 Quadrillion is 1,000,000,000,000,000
1 Googol has 100 zeros.
In 2007,
DTC processed 325 million book-entry deliveries, up 11% from
293 million deliveries the year prior. The value of these deliveries,which include broker-to-broker and institutional transactions, was $210 trillion, up 17%.
http://www.dtcc.com/downloads/annuals/2007/2007_report.pdf
What is being stated is true as I have confirmed the information from other sources.
Does anyone have the URL to the NOBO list that was used to notify us of the Cert request ?
If not I'll ask around it will be interesting to see how many of us are not on it.
There is a busy little private company you probably never have heard about, but which you should. Its name is the Depository Trust & Clearing Corporation. See their website. Looks pretty boring. Some kind of financial service thing, with a positive slogan and out there to make a little business. You can even get a job there. Now, go and take a look at their annual report. Starts with a nice litte Flash presentation and has a nice message from the CEO. And take a look at the numbers. It turns out that this company holds 23 trillion dollars in assets, and had 917 trillion dollars worth of transactions in 2002. That's trillions, as in thousands of thousands of millions. 23,000,000,000,000 dollars in assets.
As it so turns out, it is not because DTCC has a nice website and says good things about saving their customers money that they are trusted with that kind of resources. Rather it is because they seem to have a monopoly on what they do. In brief, they process the vast majority of all stock transactions in the United States as well as for many other countries. And - and that's the real interesting part - 99% of all stocks in the U.S. appear to be legally owned by them.
In the old days, when you owned stocks you would have the stock certificates lying in your safe. And if you needed to trade them, you needed to get them shipped off to a broker. Nowadays that would be considered very cumbersome, and it would be impractical to invest via computer or over the phone. So the shortcut was invented that the broker would hold your stocks instead of you. And in order for him to legally be able to trade them for you, the stocks were placed under their "street name". I.e. they're in the name of the brokerage, but they're just holding them in trust and trading them for you. And you're in reality the beneficiary rather than the owner. Which is all fine and dandy if everything goes right. Now, it appears the rules were then changed so the brokers are not allowed any longer to put the stocks in their own name. Instead, what they typically do is to put the stocks into the name of "Cede and Company" or "Cede & Co" or some such variation. And the broker might tell you that it is just a fictitious name, and will explain why it is really more practical to do that than to put it in your name.
The problem with that is that it appears that Cede isn't just some dummy name, but an actual corporation that DTCC controls. And, well, if you ask anybody about this, who actually knows about it, they will naturally tell you that it is all a formality. To serve you better, of course. And, well, maybe it is. DTCC seems like a nice and friendly company. It is a private company, owned by the same people (major U.S. banks) who own the Federal Reserve Bank. And if they all stick to their job, and just keep the money and your stocks flowing smoothly, I'm sure that is all well and good. But if somebody at some point should decide otherwise, and there's a national U.S. emergency and/or the U.S. government becomes unable to pay its debts, well, they might just not give you your stocks back. Because legally they own them.
This exclusive report is a compilation of interviews and background research from October 1995 through April 1999.
The Depository Trust Company (DTC) is the best kept secret in America. Headquartered at 55 Water Street in New York City, the average American has no clue that this financial institution is the most powerful banking corporation in the world. The general public has no knowledge of what the DTC is or what they do. How can a private banking trust company hold assets of over $19 trillion and be unknown? In a recent press release dated April 19, 1999, the Depository Trust Company stated:
The Depository Trust Company (DTC) is the world's largest securities depository, holding nearly $19 trillion in assets for its Participants and their customers.... Last year, DTC processed over 164 million book-entry deliveries valued at more than $77 trillion.
In dealing with the trust department of Midlantic Bank, N.A. in New Jersey [now PNC Bank, N.A.], this writer was authorized, as trustee and power of attorney, to transfer original trust assets comprising of common stocks and bonds to a new trust set up in another jurisdiction. An Assistant Vice President from the Trust & Financial Management Office of Midlantic Bank said to me "it will take at least 6 weeks to do this as the majority of the stocks and bonds are not held in the name of the trust". This same Midlantic Bank Assistant V.P. also stated in a letter dated November 17, 1995, "Of the 11 municipal bonds, 8 are held in book entry only. This means they cannot be physically re-registered with a certificate sent to the new trustees." (* these are not the actual figures quoted in the letter in order to protect the privacy of the account holder, at their request. Also, we were asked not to name the Midlantic Assistant V.P. in order to protect her privacy Rights. We respect these requests with full moral compliance). In disbelief, I brought this matter to the attention of our research assistants at the Christian Common Law Institute [formerly the North Bridge News] and we began our lengthy investigation into the matter. After 3 years, the can of worms we've opened up should frighten every American. With the advent of reported Y2K computer glitches and the possible collapse of our 'paper asset' economy, every person who has a stock or bond in their portfolio had better read this report and act on the information we are disclosing here.
In November 1995, after encountering numerous "no comments" and a myriad of "that's not my department" excuses via telephone, I eventually spoke with Mr. Jim McNeff who told me his position was Director of Training for the DTC. He said he'd been employed there for 19 years and was "very proud" of his employer. During my initial telephone interview, either Jim's employer or some other unknown person or persons were illegally listening or taping our telephone conversation according to the electronic eavesdropping equipment we have installed on our end. Why did anyone feel it was necessary to illegally record our conversation without advising us? Was some federal alphabet agency monitoring DTC calls to safeguard National Security? That in itself is suspicious enough to warrant a big red warning flag.
Jim informed me back then (1995) that "the DTC is the largest limited trust company in the world with assets of $ 9.1 trillion". In July 1998, I spoke with Ms. Rose Barnabic of the DTC Finance Department who said that "DTC assets are currently estimated at around $11 trillion". As of April 19, 1999, the DTC itself has stated that their assets total "nearly $19 trillion" (see above). Mr. McNeff had also stated "the DTC is a brokerage clearing firm and transfer center. We're a private bank for securities. We handle the book entry transactions for all banks and brokers. Every bank and brokerage firm must secure their membership with us in case they become insolvent, so your assets are secure with DTC". Yes, you read that correctly. The DTC is a private bank that processes every stock and bond (paper securities) for all U.S. banks and brokerage houses. The big question is this; Just who gave this private bank and trust company such a broad range of financial power and clout?
The reason the public doesn't know about DTC is that they're a privately owned depository bank for institutional and brokerage firms only. They process all of their book entry settlement transactions. Jim McNeff said "There's no need for the public to know about us... it's required by the Federal Reserve that DTC handle all transactions". The Federal Reserve Corporation, a/k/a The Federal Reserve System, is also a private company and is not an agency or department of our federal government, according to the 1998 Federal Registry. The Federal Reserve Board of Governors is listed, but they are not the owners. The Federal Reserve Board, headed by Mr. Alan Greenspan, is nothing more than a liaison advisory panel between the owners and the Federal Government. The FED, as they are more commonly called, mandates that the DTC process every securities transaction in the US. It's no wonder that the DTC (including the Participants Trust Company, now the Mortgage-Backed Securities Division of the DTC) is owned by the same stockholders as the Federal Reserve System. In other words, the Depository Trust Company is really just a 'front' or a division of the Federal Reserve System.
"DTC is 35.1% owned by the New York Stock Exchange on behalf of the Exchange's members. It is operated by a separate management and has an independent board of directors. It is a limited purpose trust company and is a unit of the Federal Reserve." -New York Stock Exchange, Inc.
Now, let's see how this effects the average working American family. If you're not aware how the system works, you should visit or call a stock broker or bank and instruct them you want to purchase some shares of common stock or a small municipal bond, for example. They will set up a brokerage account for you and act as your agent with full durable power of attorney (which you must legally sign over to them) to conduct business on your behalf, upon your buy or sell instructions. The broker will place your stock or bond purchase into their safekeeping under a "street name". According to Mr. McNeff of the DTC, no bank or broker can place any stock or bond into their firm's own name due to Federal Trade Commission (FTC) and Security and Exchange Commission (SEC) regulations.
The broker or bank must then send the transaction to the DTC for ledger posting or book entry settlement under mandate by the Federal Reserve System. Remember, since your bank or broker can't use their name on the certificate, they use a fictitious street name. "Since the DTC is a banking trust company, we can't hold the certificates in our name, so the DTC transfers the certificates to our own private holding company or nominee name." states Mr. McNeff. The DTC's private holding company or street name, as shown on certificates we have personally examined from numerous certificate holders, is shown as either "CEDE and Company", "Cede Company" or "Cede & Co". We have searched every source known to learn who CEDE really is, but have been unable to get any background information on them. Is Cede Company fictitious or is their identity perhaps a larger secret than DTC? We must presume that the information Mr. McNeff gave us was correct when he confirmed that Cede Company was a controlled private holding company of the DTC. We have now found the following proof that CEDE is real from the Bear Stearns internet site:
NEW YORK, New York - March 16, 1999 - Bear Stearns Finance LLC today announced that it will redeem all of the 6,000,000 outstanding 8.00% Exchangeable Preferred Income Cumulative Shares, Series A ("EPICS") of Bear Stearns Finance LLC, liquidation preference of $25.00 per Series A Share, CUSIP number G09198105. All of the Series A Shares are held by Cede & Co., as nominee of The Depository Trust Company, and the payment of the redemption price will be made to Cede & Co. by ChaseMellon Shareholder Services, LLC, as paying agent, whose address is: 85 Challenger Road, Ridgefield Park, New Jersey 07660.
The banks and brokers are merely custodians for their clients. By federal law (SEC), they cannot hold any assets in the customer's name. The assets must be held in the name of DTC's holding company, CEDE & Co. That's how DTC has more than $19 trillion dollars of assets in trust... or is it really in "trust" if the private Federal Reserve System is technically holding it in their "unknown" entity's name? Obviously, if stock and bond certificates you've purchased aren't in your name, then the "holder" (the Federal Reserve System) could theoretically refuse to surrender them back to you under a "national emergency" according to the Trading with the Enemy Act (as amended). Is this the collateral being held by the private Federal Reserve System to pay off the national debt owed to them by our federal government, first initiated by Lincoln's debt bonds of 1864?
According to Mr. McNeff, the DTC was a former member of the New York Stock Exchange (NYSE), and "Our sister company is the National Securities Clearing Corporation... the NSCC" (they have since merged). He was correct since we now know that the NYSE holds 35.1% of the "ownership" of the DTC on behalf of their NYSE members. Simply put, the Depository Trust Company absolutely controls every paper asset transaction in the United States as well as the majority of overseas transactions, and they now physically hold (as of April 1999) 99% of all stock and bond book-entrys in their street name, not the actual owner's names. If you have stock or bond certificates in your name buried in your back yard or under your mattress, we suggest you keep them there. If not, it might be very wise to cancel your brokerage account and power of attorney status, re-register the stocks and bonds in your name (if you still can), and keep them hidden where only you know their location. Otherwise, you have absolutely no control over them (see Part II of our exclusive research report on the DTC for more information on beneficial ownership status). However, getting a stock or bond certificate these days is not so easy if possible at all:
"For the most part, issuers know little about the role of the Depository Trust Company (DTC). The DTC was created in 1973 as a user-owned cooperative for post-trade settlement. Our members are banks and broker/dealers, whom we refer to as participants. We handle listed and unlisted equities, including 51,000 equity issues and 170,000 corporate debt issues, equating to more than 78% of shares outstanding on the New York Stock Exchange (NYSE). We also have more than 95% of all municipals on deposit.
In the 1980s, the "Group of 30" [business leaders] recommended that stock certificates be eliminated, because physical certificates create risk. The Securities Exchange Commission (SEC) issued a concept release in 1994 to gradually decrease certificates, providing optional direct registration on the books of the issuer instead of a certificate.... this enhances the portability of shares between transfer agents and brokerage accounts. With the direct registration system, brokers transmit instructions to purchase through DTC, which the issuer or transfer agent then registers, so shares can be delivered electronically." -John D. Faith, Manager, Corporate Trust Services, The Depository Trust Company (1996)
Now we're about to reveal to you the most shocking discovery we came across during our research into this matter. Most of us remember a few years back the purported computerized selling of stocks that resulted in Wall Street's "Black Monday":
Dow Dives 508.32 Points in Panic on Wall Street
"The largest stock-market drop in Wall Street history occurred on "Black Monday" -- October 19, 1987 -- when the Dow Jones Industrial Average plunged 508.32 points, losing 22.6% of its total value. That fall far surpassed the one-day loss of 12.9% that began the great stock market crash of 1929 and foreshadowed the Great Depression. The Dow's 1987 fall also triggered panic selling and similar drops in stock markets worldwide" -Source: Facts on File World News CD ROM
The stock exchanges had dramatic record losses, and a record volume of shares were traded on that infamous Monday in October 1987. We all asked ourselves how computers could have done this by themselves without someone knowing about it. After all, someone has to program a computer to tell it what to do, what not to do, or even when to do or not do it.
During my telephone conversation, Mr. McNeff was trying to assure me that they [the DTC] have "never lost a certificate or made a mistake in a book ledger transaction". In attempting to give me an example of how trustworthy the DTC is when I asked him how he could back up such a statement, he replied "DTC's first controlled test was 4 or 5 years ago. Do you remember Black Monday? There were 535 million transactions on Monday, and 400 million transactions on Tuesday". He was very proud to inform me that "DTC cleared every transaction without a single glitch!". Read these quotes again: He stated that Black Monday was a controlled test. Black Monday was a deliberately manipulated disaster for many Americans at the whim of a controlled test by the DTC.
What was the purpose of this test? Common sense tells you that you test something before you intend to use it. It's quite obvious that the stock markets are going to 'crash and burn' at some future date and for some 'unknown' reason since the controlled test was so successful. Was this just one of the planned tests for a Y2K internationally planned worldwide economic meltdown? The Great Depression is about to be repeated, and it will be as deliberate and manipulated as the first one that began with the stock market crash of 1929. We are, without a doubt, on the brink of the Mother of all economic Depressions. As of May 3, 1999, the Dow Jones Industrial Average (DJIA) went above a record 11,000 points. Just prior to the 1929 stock market crash, Wall Street was posting record prices, record earnings, and record profits.... just like the scenario we are experiencing today. Will Y2K be a manipulated and deliberate a financial meltdown? Too many facts already support this probability.
On June 7, 1995, the federal government issued a new regulation requiring stock and bond certificate transfers to be cleared in three days instead of the previous five day time period. It coincided with the infamous Regulation CC that purportedly gave us faster three day availability of funds from deposited checks. This means that brokers and banks must get your stock or bond transaction into the street name (Cede & Co.) of the DTC within 3 working days. That's hard to do considering banks claim it takes 3 or more days to clear a check that you've submitted to pay for a stock purchase. But, there's a reason for this new regulation and it coincides with the introduction of the new FRS "dollars".
On February 22, 1996, "the DTC will flip the switch" according to Mr. McNeff. "What switch?", I asked. "This is the day that clearing house funds will no longer be accepted for stock or bond transactions" was my reply from Jim. "Instead, only Fed Funds will be accepted". Fed Funds, or a Fedwire, are electronic computer ledger debit transfers between Federal Reserve System member banks. No checks or drafts have been allowed from that day, just as Mr. McNeff accurately stated. This is more commonly called a 'cashless transaction'. I call it the reality of the mark of the beast. This is the manifestation of the new international god, the New World Order [I prefer the term 'New World DISorder' as a more accurate description].
Consider this my fellow Christian Americans: All pension funds and other institutional 'managed funds' are comprised of paper asset investments such as stocks, bonds, and mutual funds. These certificates are technically in the name of DTC's private holding company, CEDE and Company. The DTC is owned by the private Federal Reserve System owners (Click for a complete list of names). Congress has attempted, on no less than two occasions since 1995, to pass legislation allowing pension funds to be used by the government as purported 'loans'. All the Federal Reserve System has to do is hand it over. But, what happens to the people counting on those pension fund investments in order to feed themselves in their retirement? Too bad for them.... they're out of luck because for the 'good of the nation', they may be forced to share or relinquish their lifetime of hard-earned wealth. This can be done without the consent of Congress under an Executive Order based on the War and Emergency Powers Act and a state of National Emergency, just like we are already under (See further Executive Orders). Since the Federal Reserve System already holds our stocks and bonds in their fictitious DTC "street name", CEDE, then perhaps they'll cash them in for the federal government's failure to repay the loans that have become way overdue. Heck, some of Lincoln's gold backed bonds from 1864 have not been repaid yet.... and for a reason.
On March 6, 1933, all bullion gold and gold coins were forcibly taken from the hands of private citizens (see New York Times). Under the War Powers Act, President Roosevelt declared a national emergency touted as a "Banking Holiday". It was declared due to the deliberately calculated stock market crash that preceded the Great Depression. Where did this gold end up? Into the hands of the Federal Reserve System owners. The majority is stored in the impervious rock vaults they own beneath New York City. Is it any surprise that the DTC physically holds all the remaining non-book entry issued stock and bond certificates in the same place?
Technically, our entire nation is still under the Executive Order declaration of the War Powers Act and in a continual state of national emergency (See Clinton's 1994 Executive Order 12919). The President can enforce any new emergency at any time under Executive Order or Presidential Directive. In 1995, we [the former North Bridge News] published that we expected a new national "dollar" emergency to be declared within a year or two. Just like we thought at the time, they have now blamed it on the purported drug dealers who are allegedly destroying our currency by money laundering schemes.
Since late 1996, old U.S. $100 FRB notes issued by the Federal Reserve Bank are being exchanged for new $100 FRS issued by the Federal Reserve System. These new notes have scanable magnetic platinum encryption on the plastic strips embedded inside the bills. The U.S. Treasury claims this is for "the blind". Now, new $20 and $50 FRS's are replacing the older notes as well. What people don't realize is that very soon, the older FRB notes will no longer be 'legal' and there will be a penalty for hoarding them. This is what happened to those Americans holding gold and gold coins after 1933.
"We are most gratified with the successful introduction of the new $100 and $50 notes and look forward to the same success with the new $20s," Chairman Greenspan said. For the first time, a machine-readable capability has been incorporated for the blind. A new feature in the $20 will facilitate the development of convenient scanning devices that could identify the note as a $20. -U.S. Treasury, Office of Public Affairs, RR-2449 released May 20, 1998.
Why new paper 'money' and for what purpose? Because the new FRS notes in your pocket can be scanned and whoever scans them can know exactly how much money you have on you. The older FRB notes are not encoded to do this. This writer knows firsthand of at least one machine, manufactured by Diebold, Inc. (a/k/a InterBold) that scans the money in your pockets, wallet or purse no different in theory than a credit card scanner, but much more sophisticated. I participated in a 'test' of this machine at a U.S. international airport in 1998. To me, it looks much like the standard metal detector scanners you walk through at all airports. I was asked (by who I believe was a U.S. Treasury Agent, as he introduced himself and flashed his ID quickly in my face so I couldn't read it) if I had any of the new $100 or $50 bills in my pockets. I looked in my wallet and saw I had one new $100 FRS note. I told him "yes", then he said "Good, but don't tell me how much". After saying he would "really appreciate it" if I would help them with a test, he asked me to walk through what looked like a typical airport scanner. No beeps. No noise. No sound at all. He looked at a computer screen and said "Do you have a new $100 bill?". When I confirmed that was true, he thanked me and told me to please move on. I tried to ask him how the machine knew that, but he ignored my question. I took a good look at the scanning system and believe I have now spotted them at Kennedy, Atlanta, Miami and Los Angeles airports.
The odd part about this is that these machines seem to all be located in the customs areas where you enter the U.S. from a foreign country. Obviously, they want to know if someone is carrying more than $10,000 into the U.S. Common sense dictates that they should be more concerned about people leaving with more than $10,000 if they're really trying to thwart the drug dealers.... until you begin to realize that there must be some other hidden agenda: They are apparently going to stop money from entering the U.S. for a reason.
Will the President call for the confiscation of all gold bullion and bullion coins as Roosevelt did? Who will end up with it? The Federal Reserve System owners, just like before. Since June 1998, international gold supplies have been so low that some private Swiss Banks have been paying a premium above the market wholesale value for gold bullion. This was confirmed to us by a gold and diamond mining Chief Executive from Rex Mining in Guinea, West Africa, who supplies raw gold to a major Swiss Banking company smelter and processor The spot gold market has been manipulated to keep the price low so that the Federal Reserve System owners can purchase all that is available through their various trusts and corporations. World gold availability on the open market is now at a record low and mining production of gold is also at a record low output.
What happened to 'supply and demand' with gold and silver? Normally, when supply is high the price decreases. When supply is low, precious metal prices increase. Perhaps the private FED will peg the new dollar to gold prices, as many experts have already speculated. What will stocks and bonds purchased with old dollars be worth then? Pennies to the dollar, so to speak. Who ends up being the only winner? The Federal Reserve System stockholders. They control the circulation amounts of paper money in the U.S. Combine that with the new scanner to stop large amounts from entering into the U.S., and the scenario amounts to a planned shortage of paper FRS notes, the banning of the older FRB notes, and the soon to be astronomical price of gold which most Americans will be forbidden to have or hoard, once again. The facts we've presented in this report all point to this.
People will be at the mercy of the federal government for daily food and for jobs. Checks are soon to be totally phased out. Banks issue ATM debit cards and tell you they must charge more for your account if you use a real live human teller instead of the machine. The switch is being turned on. This is not speculation. This is the truth of reality. It's already been tested, and their new system works. Just ask Jim McNeff of the DTC.
The day has come when you must decide to accept or reject the beast and the New World Disorder.
Part II of II-
You don't own your Stocks....or any of your Bonds...The Depository Trust Company does.
by Anthony Wayne
In Part I of this series, excerpts of which were first published in November 1995 by the former North Bridge News, we exposed The Depository Trust Company (DTC) as the Unknown $ 9.1 Trillion Company. It appears that our startling discoveries of the inner-workings of the DTC had only scratched the surface. We'd like to add more fuel to this blazing fire by further exposing the DTC and those behind it.
The Depository Trust Company has grown since October 1995. On July 1998, this amount was estimated by a DTC employee at more than $11 Trillion. As of April 19, 1999, the DTC itself has stated in a press release that their asset value is nearly $19 trillion. In 3 1/2 years, their assets increased nearly $ 10 Trillion. That's a lot of stocks and bonds supposedly held in trust. The latest trend over the past ten years is for stock and bond brokers to offer "book-entry ownership" only. Every book-entry stock or bond is literally owned by the DTC. Since 1985, most bond and many stock issuers have converted from the issuance of certificates to book-entry systems administered and controlled by the DTC. As of March 1999, the National Securities Clearing Corporation (NSCC) and the Participants Trust Company (PTC) are now merged into the DTC. Practically, there isn't one stock or bond issued that is not controlled by the DTC.
If you purchase any stock or bond through a broker, it is being held for you under a "street name" by the DTC unless you have specifically requested to hold the certificate yourself. If you have a book entry stock or bond, you won't be issued a certificate. It's important to note that you have purchased that particular stock or bond without becoming a registered holder of the actual stock or bond certificate. Instead, you have become a beneficial owner. The difference between the two is like night and day. Take the time to absorb and understand the following definitions:
REGISTERED HOLDER- A Registered Holder literally possesses, owns, and holds, his stock or bond with his name appearing on the face of the certificate. The company that issued the certificate has registered the owner's (holder's) name on their official books. This is the safest way to own a paper asset. You literally possess the fully registered certificate and only you can transfer or sell it. By all Rights and definition of law, you are the owner. You have it, you hold it, you possess it, and you keep it. You have the complete control over it.
BENEFICIAL OWNER- A Beneficial Owner is nothing more than a beneficiary, "One who is entitled to the benefit of a contract"- A Dictionary of Law, 1893. All book-entry stocks and bonds you purchase make you the beneficial owner, not the registered holder. The owner of a book-entry stock or bond is the entity or name that it is registered under.
The DTC owns that bond or stock, not you. Rather than in your name, it's registered (as the legal Registered Owner or agent) in their "street name", Cede & Company. (In the past, it may have been registered in your broker's street name, but this is no longer allowed). The DTC is the Registered Owner - holder - of your stock or bond. The DTC is the legal property-holder, share-holder, stock-holder, owner and purchaser. Your name appears nowhere on the book entry or certificate as the actual owner. Instead, you have been designated by the legal registered owner, the DTC, as the Beneficial Owner. This means that your lawful Rights in that stock or bond are confined to that of a successor or heir.
At the University of Utah College of Law, we found the following examination question about Cede & Co.:
The common stock of LargeCo, Inc. is publicly traded on the New York Stock Exchange. Over 2/3rds of the shares are registered on LargeCo's books in the name of Cede & Co. Cede is a depository company which holds the shares as nominee on behalf of brokerage firms, mutual funds and other active traders. The brokerage firms in turn are also nominees with respect to some of the shares, which they hold on behalf of their customers. Nominees, such as Cede and brokerage firms holding for customers, view the customer as the beneficial owner of the shares and consider the customer to be the one with the right to vote the shares; mutual funds, however, view the fund as the owner of the shares it holds and vote the shares themselves.
Most of the remainder of LargeCo's stock (26% of the total) is held by the Large family, which is still actively involved in management. LargeCo is aware that the beneficial owner of about half the stock registered in Cede's name is the Small family, who live next door to the Larges in downtown Rome, and that the remainder of the Cede stock is beneficially owned by several well known mutual funds.
According to the DTC, under the US Security and Exchange Commission (SEC) rules, you only have the right to "receive proceeds or other advantages as the beneficiary". You are not the owner... you are the consignee, "One who has deposited with a third person an article of property for the benefit of a creditor"- A Dictionary of Law, 1893. In legal terms, you are considered the heir presumptive or heir at law to the stock or bond you paid for. The DTC controls, possesses as creditor, holds and owns your book-entry stock or bond. This is a difficult pill to swallow for those who have placed their assets in stocks and bonds over the past decade. Your broker sends you a fancy accounting every month of your purported holdings, along with dividend and interest payments paid. The fact is, you only receive the benefit of ownership (interest and dividends) without holding title to your property. You are at the mercy of the registered owner, the DTC. If you don't believe this is true, then call your broker right now and ask them who's name is listed as the Registered Holder of your book-entry stocks and bonds. If you're lucky, the broker will tell you "why of course you're the Beneficial Owner", then you'll know the truth. He may emphasize to you that the stocks and bonds are being held in "safe keeping" for your own protection. This is broker language for "your stocks and bonds are held by the DTC in their street name as the creditor".
From J.P. Morgan's internet site:
Registered and beneficial shareholders
There are two types of shareholders: registered, who hold an ADR in physical form, and beneficial, whose ADRs are held by third-parties and are listed under a "nominee" or "street" name.
Registered shareholders are listed directly with the issuer or its U.S. transfer agent. The transfer agent handles the record-keeping associated with changes in share ownership, distribution of dividend payments, and investor inquiries; it also facilitates annual meetings. An issuer's depositary bank can provide the identities of registered shareholders on a regular basis. However, this may not provide the level of shareholder identification required for a successful investor relations effort. Registered shareholders are typically individual investors who have physical possession of their share certificates, generally in lots of 100 shares or fewer. The registered list also includes nominee names such as Cede & Co., which represent the aggregate position of the Depository Trust Company (DTC), the primary safekeeping, clearing, and settlement organization for securities traded in the United States. DTC uses electronic book-entry to facilitate settlement and custody rather than the physical delivery of certificates.
Beneficial shareholders, which can include individual as well as institutional investors, do not have physical possession of their certificates; third-party broker-dealers or custodian banks hold their securities on their behalf. These shares are said to be held in street name because they are kept with the DTC in the name of the broker-dealer or the custodian bank - not the underlying shareholder. Lists of beneficial shareholders who do not object to disclosing their holdings are available from banks and broker-dealers. These lists, called NOBO for Non-Objecting Beneficial Owner, typically provide the names of individual investors.
To help identify institutional investors, who do not usually disclose their holdings, issuers use publicly available filings. Large holders, including investment managers, are required to make periodic filings - such as 13-F, 13-G, and 13-D - with the Securities and Exchange Commission (SEC) disclosing the name and value of the positions in their portfolios.
Which brings us to the street name used, registered, and designated by the DTC as the registered owner of over $19 Trillion (USD) of our stocks and bonds... CEDE & Co. Everyone in the brokerage business keeps pronouncing this name as "See Dee" and Company, but it's spelled C-E-D-E and pronounced "Seed". This is where the real irony comes.
According to Black's Law Dictionary, Sixth Edition, 1990, the word Cede is defined as "To yield up; to assign; to grant; to surrender; to withdraw. Generally used to designate the transfer of territory from one government to another". In the Black's 1951 Fourth Edition, it lists the following as supportive case law; Goetze v. United States, C.C.N.Y., 103 Fed. 72.
Have you made the connection yet? Your book-entry stocks and bonds and all stock and bond certificates purchased through your broker and held by them under your brokerage account are owned by CEDE & COMPANY (the DTC) as the registered owner. You have surrendered, assigned and granted ownership to someone else other than yourself. Their name says it all.
How ironic and sarcastic can they be?
"CEDE- To surrender possession of, especially by treaty. See Synonyms at 'relinquish'." -American Heritage Dictionary of the English Language, 3rd Edition of 1992
If Americans had any idea that they have relinquished the lawful ownership of their stocks and bonds to someone or something else, there would be a revolution. In a sense, that's why we are exposing this paper asset scam to you. The point is, now that you know the truth, do something about it and get your assets back into your name.
Our suggestion to you is this: If you don't literally have every stock and bond registered certificate in your possession, then promptly call your broker and tell him you want all your securities transferred and re-registered into your name as the Registered Holder and Owner. If he says he can't do that because your stock or bond is a book-entry transaction only, we strongly suggest, for your own security, that you sell your book-entry assets immediately. Don't let the broker tell you that it's "safer" for you if they keep your certificates. Remember, you know the truth. Even if all your stock and bond certificates were burned in a fire, the process to have them replaced is simple. If someone were to steal your certificates, you simply report them stolen to the company that issued them and they're automatically cancelled, just like a stolen credit card. Replacement certificates are then issued to replace the lost or stolen originals.
Most people don't realize that when they open a brokerage account, they have entered into an contractural agreement allowing the broker to assign the stocks and bonds to an undisclosed creditor, the DTC. (We suggest you read the small print on your brokerage agreement). This gives the broker your express written permission to place all your securities into the ownership of the DTC. Your broker is an agent for the DTC through mandatory Securities and Exchange Commission regulations and mandates by the Federal Reserve System private bank. Your broker represents them, not you. Your brokerage account is nothing more than a ledger of accounting. It reflects no assets held in your name. The assets are registered in a "street name" that is not you or your name. Sure.... you receive the interest and dividends, but you do so as a beneficiary to the real owner. Your brokerage account in no way, shape, or manner reflects who literally owns your securities. What you own is a brokerage account and nothing more.
A greater consideration is just exactly who does the DTC hold these securities for? As the owner, who has the DTC pledged these securities to? Our research points to the Federal Reserve System, an international private banking cartel with major offices found in Moscow, London, Tokyo, and Peking. By treaty with the United Nations and in compliance with the Bretton Woods Agreement, the DTC under regulation of the Federal Reserve System has pledged all those stocks and bonds to the International Monetary Fund (IMF). These are the same paper securities found in your IRA and pension fund accounts, as well as in your brokerage account. Remember, you don't own them.... you're just a beneficiary.
The truth is, the securities you purchased and paid for with your hard earned money is collateral for the United Nations which is backed by the Federal Reserve System and it's associated agencies, such as the International Monetary Fund. Is it any wonder that the UN can operate year after year with increasing budgets, but without sufficient funds? The UN has nearly $19 Trillion of backing and reserves, thanks to millions of duped Americans. We are financing the New World Dis-Order with our stocks and bonds.
By RODDY BOYD February 16, 2006 -
- Two state securities regulators have issued subpoenas to get at the trading records of Wall Street's largest firms in a quest to stamp out the controversial practice of naked short-selling, sources said.
Naked shorting — the tactic of selling shares short without properly borrowing them first in order to bet on a stock's fall — has been a concern of state securities regulators during the past year.
Utah and Connecticut regulators' first line of attack will be to get Wall Street firms' trading records via the Depository Trust & Clearing Corporation, which tracks and settles all stock trades. Regulators will be looking for the trading and customer ledgers of Bear Stearns, Morgan Stanley and Goldman Sachs, which all have large and highly lucrative clearance operations.
Connecticut's subpoena asked for information on four companies "with a strong connection to the state," sources said.
Utah, on the other hand, requested a large amount of market-wide data regarding alleged naked short sales.
A Utah securities spokesman declined comment.
Connecticut's top securities watchdog, Ralph Lambiase, said small companies vulnerable to stock-price manipulation via naked short-selling often lose their ability to get additional financing if their shares fall below $5, he told The Post.
Many of the companies purportedly under attack from naked short-sellers are often under either intense regulatory scrutiny or have posted abysmal performance for long periods of time.
____________________________________________________________
above by NY Post confirms this yesterday:
StockGate: DTCC Appears To Be Enforcement Target Of NASAA Multi-State Task Force
Feb 15, 2006 (financialwire.net via COMTEX) --
February 15, 2006 (FinancialWire) FinancialWire has learned from a highly-placed informed source that the Depository Trust and Clearing Corp. appears to be a target of an enforcement action by the multi-state task force formed by the North American Securities Administrators Association.
If so, this would explain a recent flurry of posts and press releases by the DTCC denying any complicity in the exploding national illegal manipulative trading scandal known as StockGate, embroiling Netflix (NASDAQ: NFLX), Overstock (NASDAQ: OSTK), Krispy Kreme Donuts (NYSE: KKD) and Martha Stewart OmniLiving (NYSE: MSO), as well as provide a measure of validation to rampant rumors that the clearing house, jointly owned by the NASD and the New York Stock Exchange has received subpoenas.
Similar rumors that individuals throughout the U.S. Securities and Exchange Commission have received subpoenas as part of the same or a different action has not been confirmed.
The scandal appears now to be moving at a fast pace. Harris Interactive has confirmed that the public is now informed and that 76% of investors believe those who naked short stock should suffer penalties as severe or more severe than those imposed for fraud and counterfeiting.
Its survey was conducted among 1,243 investors nationwide, and was commissioned by Working Americans for an Open Economy.
Investors' support for cracking down on naked shorting could play a role in upcoming congressional elections with 38% of investors saying they would be more inclined to vote for a congressional candidate who addresses the issue of naked shorting. Among investors aged 55 or older, fully one-half (50%) say they would be more inclined to vote for such a candidate.
"This study leaves little doubt as to how seriously investors view the illegal practice of naked shorting," said Mark Wirthlin, senior vice president of the Harris-Wirthlin Brand and Strategy Consulting Practice at Harris Interactive. "If this issue moves front and center, it clearly has the potential to influence both legislation and congressional elections."
The study was designed to understand investor attitudes toward the practice of naked shorting. "Naked shorting has become the game on Wall Street in the past 10 years and its pervasiveness creates serious risks to our system," said Steve Wark, spokesperson for Working Americans for an Open Economy. "These results show that the public is ready for the government to take real and meaningful action against hedge funds, brokerages and individuals breaking the law."
When it comes to specific actions that could be taken against those found guilty of naked shorting, vast majorities of investors are behind every alternative tested:
Requiring the federal government to publish the identity of brokerages and individuals found guilty of naked shorting (79%)
Allowing individuals, investors, pension funds, and small companies financially damaged by naked shorting to sue to recover their financial losses (75%)
Revoking the securities licenses of those found guilty of committing naked shorting (75%)
Meanwhile, the SEC is seeking comments on adding OTC and OTCBB companies to its tracking of short interest.
On May 31, 2006, Bill Frizzell, member of the CMKM Task Force and shareholder attorney, submitted a complaint letter to the NASD Investor Complaint Center in regards to this serious problem. The letter can be found on the CMKM Task Force website, http://www.cmkmtaskforce.com and is noted below:
May 31, 2006
NASD Investor Complaint Center
1735 K Street, NW
Washington, D.C. 20006-1500
Re: Request for Investigation of Brokerage Conduct Involving CMKM Distribution
Dear Sir or Madam:
On November 5, 2005, a final order was entered by the SEC delisting the securities of CMKM Diamonds, Inc. (hereafter CMKM) Shortly thereafter, CMKM management appointed a “Task Force” to assist the company in determining their bonafide shareholders. I was invited to participate on this Task Force along with Attorney Don Stoecklein and Bob Maheu, a former board member of CMKM. The Task Force had a single job of identifying all bonafide shareholders of CMKM. Prior to delisting, the company had issued and outstanding 703 billion shares. There was evidence of billions of failed deliveries in this stock at the time the trading in this security was halted by the SEC. Trading was halted by the SEC for non reporting violations.
Shortly after delisting, CMKM sold a major company asset consisting of a large number of mineral claims in Canada. The sale of this asset resulted in the company receiving 45,000,000 shares of an OTCBB stock called Entourage Mining Ltd. (ETGMF) The purchase agreement stipulated that such shares shall be distributed to the shareholders of CMKM. Recent press releases state that Entourage has a drilling program in operation and there is expectation of future development of the claims which were once owned by CMKM. The Entourage stock now trades in the .20 to .30 USD range. There is evidence of potential appreciation of this Entourage stock.
Due to the indisputable evidence of large numbers of failed deliveries in this stock, CMKM elected to distribute the 45,000,000 shares of Entourage stock to all bonafide shareholders in what was described at that time as a windup distribution. CMKM has informed shareholders that only shareholders with valid certificates from the official company transfer agent will receive their pro rata distribution of Entourage stock. In November of 2005 CMKM shareholders began requesting certs from their brokers. CMKM is currently a private Nevada corporation in good standing per Nevada state statutes.
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.”.
I am making this complaint in my capacity as a volunteer on the Task Force appointed by the company to determine its bonafide shareholders. I do not represent the company in any legal capacity other than being a volunteer to assist CMKM in identifying its bonafide shareholders. My law office has been the depository for shareholders to send copies of their certs once they receive the same from their broker. My office has worked closely with the official company transfer agent as we continue to gather evidence of bonafide ownership of CMKM stock. Consequently this office has documented complaints from hundreds of shareholders who have been attempting to obtain certs from their brokers since November of 2005 but have been unable to do so. The litany of excuses being given by various broker dealers for the refusal to honor their customers request for certs continues ad nauseum. At least three deadlines have been established in an effort to obtain cooperation from various brokers and to accommodate shareholders who received late notices of the request by the company.
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.
CMKX is no longer a publicly traded company. Its stock has not been publicly traded since October 31, 2005 per order of the SEC. All shares should be held directly by the beneficial owners of the stock and not by any securities intermediaries. This is not a defunct company or a no asset company. It is however clearly not a publicly traded security. As set out above, a number of the claims owned by the company have recently been sold for a value of several million dollars based on the market price of the stock which was obtained for the sale of the assets. Management still exists and is active in its efforts to identify its shareholders. Thus, there is no issue concerning “worthless securities” at this time.
The only custodians of CMKM stock other than those shareholders who possess valid certs are the securities intermediaries. The term “securities intermediaries” is defined in the discussions of the enactment of 17 CFR 240 as amended. The comments and discussions about the ownership rights by securities intermediaries is pertinent to this request for an investigation. The comments by the SEC do not suggest that securities intermediaries (brokers) acquire the rights of beneficial owners or that such rights can be distributed or denied at the whim of the brokers.
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:
“We had your cert, but it is now lost. It will take us another 6 to 8 weeks to obtain another one.”
“This stock purchase was a book entry only and no certificate is available.”
“Your stock was classified as a worthless security and is no longer in your account.”
“Our clearing firm has not been able to deliver these certificates due to a backlog of requests at the transfer agency.”
“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.”
“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.”
“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.”
“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.”
“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.
“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.
It is my understanding of various SEC rulings and other regulatory holdings that the true beneficial owners are the only people or entities that own the stock and the rights package associated with stock ownership. Securities intermediaries are simply as their name implies. They are intermediaries. In the case of this Entourage distribution, the brokers have no rights to receive the distribution absent any proprietary holdings. Since CMKM is no longer a publicly traded company, it is my understanding that the brokers have no ownership interest and certainly would have no rights to ownership of the Entourage stock.
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.
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.
Sincerely,
Bill Frizzell
Member CMKM Task Force
Shareholder Attorney
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
The seriousness of this issue is now starting to become public and recently a hearing was scheduled by the United States Judiciary Committee to examine short selling activities of hedge funds and independent analysts. Unfortunately, the hearing was supposed to be held on June 20, 2006, but has since been postponed (http://judiciary.senate.gov/hearing.cfm?id=1953).
Unless failures to deliver are addressed by Congress, the International Community and the American Public will begin to lose faith and confidence in our markets causing harm to our economy. Concerns over this issue have been expressed by other companies, beyond CMKX, as this is not specifically related to CMKX.
What gives any of you the right to make fun of Bob Maheau ?
You should all be ashamed !!!!!!!!!!!!!!!!!!!!!
He was a great man.
Mr. Mahue deserves our utmost respect for his lifetime of acheivments. While CMKM may have been something he regretted his lifetime of accomplishments earned my respect a long time ago. His service to his country speaks for itself and he may have accomplished much more than we realize once this all plays out.
Secondly...........
Most of us CMKXers are now aware of the far reaching business and political influence of Robert Maheu. Those of you who have read his autobiography, “Close to Hughes” are also aware of another individual by the name of John Herbert Meiers.
John Meiers was Howard Hughes other advisor. He was one of the few people to have direct contact with Hughes, and access to a world of influence and power that only a handful of individuals have ever experienced.
It is clearly apparent that without Mr. Maheu the Cert pull would not have been possible.
Secondly believe me only someone like Iron Bob could have enough influence on the DTCC.
I am assisting Mr. Maheu, Mr. Stoecklein and Mr. Casavant in notifying the shareholders of the Entourage distribution. This office has agreed to collect the data being sent in by the shareholders for the sole purpose of arriving at a list of bona fide shareholders. Because of my position on the Task Force and somewhat regular contact with Urban, Mr. Stoecklein and Mr. Maheu, this office and the staff compiling the cert pull information.
We are too busy trying to find out how 60 or 70 thousand accounts became 30 or 40 thousand accounts in a relatively short period of time. We are very concerned with the obstinate refusal of brokerage houses to send their CMKM customers proof of certified share positions. Even the DTCC is invoking a slightly uncommon procedure to send its certs out to its participants because of the reluctance by certain brokers to retrieve certs they have on deposit at the DTCC. While I am discussing the DTCC, several of you e-mailed about certain language in the first letter that was sent to participating brokers which stated "Upon Surrender of CMKM Diamonds Inc. Common Shares". My office has obtained clarification from the DTCC and the wording was simply an oversight on their part. The language should have stated "A stockholder will retain their CMKM shares upon receiving the Entourage Certificates."
We are also trying to come up with creative ways of encouraging
several thousand shareholders that still maintain positions in
street name to force the brokers to cert their shares. My job as far
as being a member of the CMKM Task Force is well defined. I can not ignore the implications of our findings as the cert information
comes into this office. As we total up the certed shares, there is
an inescapable conclusion that something is amiss. (I expect my
normal complaints from those that say I speak in code. .However,
there is no code or intent to have you read between any lines.) I am glad to explain issues in my updates but I make an effort to simply state the facts and I do not intend hidden meanings.
I am a shareholder as well as a member of the Task Force.
The CMKM Task Force has contracted with a third party mailing
company to distribute a notice to some current shareholders that may not have received notice of the requested distribution of Entourage stock. This mailout will go to selected shareholders that are not currently on the master shareholder list which the Task Force has obtained from the Transfer Agent. The Task Force has received evidence that many accounts containing CMKX stock were unilaterally sold from shareholder's account in 2005 and 2006. We have learned there are shareholders who had their positions liquidated as worthless securities. We know there are a large number of "Fails to Deliver" in this stock so we (Task Force) have decided to go beyond what would be considered the normal process of notification. The current NOBO/OBO list provided by ADP does not contain all the shareholders that are probably entitled to this distribution in my opinion.
While I feel there is a substantial "failure to deliver" position in
many firms in this stock, I recently ordered the removal of several
short share estimates that have been on the Task Force website for several months. Do not read into this act anything of significance.
Information changes by the day, and we are realizing that it will be almost impossible to find all shareholders of this stock. I see no reason to give the detractors any more ammunition to support their commentaries.
This mail out will go out to approximately 36,000 account holders.
We are requesting formal notification by ADP services to all OBO
accounts. OBO accounts are shareholders that object to giving their names and information, so we have to depend on ADP to notify these accounts of our distribution and the request for certs. Our mailing will include approximately 7000 Canadian and other foreign accounts.
We have information of shareholders in 60 foreign countries, but we have no reliable way to accurately identify these shareholders and their respective holdings. We will continue to do work in this area.
We need the help of shareholders who know others around the world to put the word out.
We have gone to great lengths to put together a mailing list that we believe will reach an enormous amount of shareholders that are either not aware of this need to pull physical certificates or that may have had their holdings liquidated or sold without their
consent. To do this we have created a master list from a June 2005 NOBO list, January 2006 NOBO list and a Canadian NOBO list. From these we have deducted duplicates and people that have already pulled their certificates as of the 3-15-06 shareholder list.
We will be posting the contents of this letter on the CMKX Owners
Group website and the CMKM Task Force website today. The letters should be in the mail tomorrow. We are also evaluating rate sheets and deciding the most effective news print media to use to supplement our direct mailing. The legal notice will essentially have the same information as the mail out, and will fulfill any required legal notification.
I have been authorized to release a current Securities Position
Report from the DTCC. Many of you will write me and ask "What does this mean?". It simply means this is the current position these companies have in street shares held on deposit at the DTCC.
Folks, we are embarking on new territory here. No company has ever challenged the market to become transparent as you are doing. Call your fellow shareholders who are not cooperating. Explain as best you can the need to unite for a bit longer. This group can have a profound effect on the stock market if this group stays together and works together in the face of a well coordinated group of bashers and detractors to our efforts. Why do you think the bashers and detractors continue their assault on a non trading revoked company?
Mr. Maheu is to begin his deposition today with the
SEC. I will be in contact with his Mr. Stoecklein's office either
tomorrow or Monday regarding an official press release by the
company.
You should all be ashamed.
We should check the NOBO.PDF LIST
We should all check to ensure our own names are on there...
If you have it post it on here...
I'm glad to hear that NSS is not OK with most people on this board as long as it is covered in a timely manner.
Actually the fact is that no one knows 100% if NSS has not occured when it comes to CMKX. Yes insiders defrauded the shareholders, but only people from the Taskforce know the facts at this point in time and people with internal access to the stock market datum.
The fact alone that so many brokers refused to cooperate speaks for itself. I know many individuals including personal friend who were told that the shares were worthless and if they would like they could simply wipe them off and to forget about them. I know people who were given the run around when requesting Certs and that it could simply not be done.
Also the fact that only 30-50K shareholders were identified, but the fact remains there were more like 60-70K shareholders.
Hence there is almost double shareholders out there and even if several shareholders manage to be identified who should be on the list, this indicates that the list is incomplete there should be an investigation why the list is missing thousands of people as it indicates corruption at various levels.
After communicating with the transfer agents they are stating that they don't know how to identify if we have an authentic Certificate that it can be any size shape, etc...
Sounds like we can manufacture our own and just stamp the name of the transfer agent on them.
If you doubt what I'm saying email them or call.
There are more questions than answers and this should concern all shareholders. We should have defenite answers with a complete list.
Does anyone have the PDF file with our names on it ?
I think we should all check and ensure we are on that list if not CMKX should be informed about that.
They should take legal action if the list is missing any names.
I would have to agree, NSS should not be allowed to happen and the reason it does is because the computer systems are allowing them to do so.
One thing we have all learned from past history is that there are and always will be greedy people who have no values and who will use NSS as a tool to fill their pockets.
Computers are the only way to go to stop this !
Put some buggers in Jail too !
Why do people feel that doing NSS is OK ?
You're right holy crp !!!
Bob Maheu died...
http://www.lasvegassun.com/news/2008/aug/05/robert-maheu-confidant-howard-hughes-dies-91/
If this thing drags on any longer half the shareholders will be dead too...
What do you mean by "Fails are a trivial problem" ???
Naming Cox an idiot just demonstrates your own lack of understanding and an agenda on this board that is not in the best interest of the thousands of CMKX shareholders.
Why are you really here ???
Currently its a private company, but hold on to it and when everything gets resolved you can be certain its worth $$$.
Very positive CMKX NEWS !!!
We are moving along...take your time and read the entire thing...
http://www.huffingtonpost.com/mark-nickolas/still-no-answer-why-mccai_b_116237.html
Let the facts speak for themselves :)
CMKX To DA MOON !
Once FBI always an FBI, you can never leave so don't full yourself if you think he is not involved.
I think you're on to something, but first a lot of work needs to be done.
1. New CEO
2. We must get the Millions that were stolen returned to have value. This is taking time since the money is well stashed in various forms including a Jade collection which somehow went missing even the SEC want's to know where that has gone. That alone is worth $50,000,000
3. Our Land Claims must be returned, although this will be another cour battle considering that even Entourage was not able to hold on to it.
4. Further lawsuits must be filed against organization that have issued fake certificates as this is illegal. This is a crime.
5. I don't expect anyone will go to jail because everyone is more determined in getting our investment back.
6. We have thousands of faxes that were sent to the TaskForce proving NSS, not sure what will happen with this information but it is in electronic form at this point.
7. We will need to pay many of the individuals that have been involved with CMKX on a volunteer basis putting in so much of their personal in return expecting compensation at a later time.
8. Our Gold mine, not sure what happened to all these assets they will need to be tracked down, even Diagem I personally saw pictures of the huge diamonds they have found I'm not talking 1c I'm talking huge, the only issue is that they are digging on sacret land and this is what's holding them up although I think they found a workaround by using the locals thus using a loophole.
9. If a reverse merger takes place this in turn would devestate CMKX because people would end up selling. Also since we have proof of NSS (thats what Kevin our current CEO) stated its right on our website how will this be handled.
10. There are so many things involved with this stock you could write a book, as we all know has been done and people are still reading it.
11. Trading under the same smybol will not be possible, but a new one would be issued with the assistance of the SEC considering we have new management, and CEO it will be very likely.
12. Having such a huge number of shareholders is very positive since if things are done properly and the company can demonstrate value there will be many more purchasing the stock.
Nothing is certain at this point but trading again may be one option, unless the company decides to go another route considering they stated they have sufficient evindence regarding NSS. This would probably involve brokers covering the NSS position as they have an obligation to ensure that any shares they borrow are legitimate. Probably the most rewarding route will be to collect from Brokers and buy back from Bonified shareholders that have legitimate shares.
The fact that CMKX is currently hiring a new CEO is a clue !!!
They are ready to take this to the next level, Kevin stated he is not knowledgable enough to continue.
This means the new CEO will need to bring froth experience that will move CMKX swiftly.
Hence once the new CEO is hired it seems like the Games are ready to begin. It will all happen very fast !
CMKX To DA Moon.
Have a great weekend guys.
"In fact, Governmentium's mass will actually increase over time, since each reorganization will cause more morons to become neutrons, forming isodopes. This characteristic of moron promotion leads some scientists to believe that Governmentium is formed whenever morons reach a critical concentration.
This hypothetical quantity is referred to as critical morass.
When catalyzed with money, Governmentium becomes Administratium, an element that radiates just as much energy as Governmentium since it has half as many peons but twice as many morons."
Governmentium becomes Administratium. LOL
True there is too much beurocracy and this is the reason CMKX is in the current state.
It has nothing to do with us making the choice to buy the stocks because you could have bought one this morning without realizing what is going on behind closed doors.
We all know that fraud can take place.
What concerns me is that it was allowed to take place over such a long period of time without any red flags.
Serriously no one had a clue as all this was going on for over one year.
From Billions of share trading daily since the computer would only show about 2Billion daily.
Leading organizations to believe that perhaps there were only 300 shareholders.
Transfer agent issuing fake Certificates.
Brokers failing to check if NSS was taking place, as public knowledge stipulates we have enough evidence to prove this.
Transfer agents issuing fake Certificates.
All the way to the the Banks having no control over how many accounts someone can actually create to transfer Millions in dollars into.
How can this be allowed to happen ?
Try to bring $10,000 in cash into a bank see what happens.
Can you not see my point of view ... everyone along the way had a breach ... How else would this have worked ?
The shareholders should not have to worry about investing in stocks and having to worry which stock will be next.
There are always bad people...
These individuals just robbed several banks... without having to drive down there to pick up the money...
They simply waited ... How IRONIC is that !
Not to be rude but you could have asked not as a public message, and I too would expect the same.
The SEC suspended trading a year later when it realized that 300 shareholders was incorrect. That is not acceptible.
They should have caught that within 24 hours based on how much trading took place.
Look at all the companies involved and all that time they thought there were 300 shareholders ???????? Come on....
CMKX/101047025 ownership of other companies:
(Please note the % in the braket is from the 22.5% UCAD ownership below)
25%(+%11.5) GEMM - Juina Mining (Nov.18/04 95Mil shares+ Nov.30 127Mil shares) Of which: Diagem is 49% owned by GEMM - super rich copper vein
12.5% Shane Resources (not Shore Gold)
10% CIM - Casavant International Mining - Royalty(Zinc)
100% CMKXTreme
80% ECPN - El Kapitan Mine "Cod River Mining 13 Claims in AZ"
60%(+%9) Nevada Minerals - 500K Acres - Athabasca Basin mine - Uranium
80% Yellow River mine - Gold
22.5% USCA/UCAD - U.S. Canadian Minerals
(+18%) COD Mine
(+%22.5)Nevada Magnetics
(+18%) Properly 1000 (Brazil Diamond mine - Diagem)
-CMKX owns 36.5% of GEMM, GEMM owns 49% of of Property 1000 (Diamonds in Brazil), hence CMKX owns 18% of Property 1000.
Money obtained:
USCA $3Mil+$2.5Mil+(7.5Mil*3) shares
CYXG $2Mil*10% + 2.5Mil shares
Shane Resources $300K (82 Falcon Claims)
SGGM $10Mil
Actually, if people would bother to read their broker statement they make it clear it is your responsibility to know if the certificates are valid. Try reading it some day, you may be surprised. Just like you agreed to allow them to borrow your stocks without your permission and that it may effect your voting rights in the company. Well thats not exactly right. You did give them permission when you hit the agreement button when you registered with them. Thats what many peoples problem is. They assume they know what they are talking about when the laws are clear.
Here is some agreements you agreed to whether you bothered to read them or not. It doesn't matter if you did read it, you agreed to abide by them when you signed up for their service. You didn't have to sign up with them so it is your choice.
You're correct most people by default have agreed to allow their brokers to issue Shares not in their name because as I recall they said the fees would be so huge for every little document companies would send us which we would incurr. This is the price we pay for signing that document but the Broker absorbs the cost of all those nice documents we receive like proxies...
Although brokers are liable if they have provided us NSS shares.
Trust me you can not dispute that fact!
Secondly yes brokers can not be held liable for requesting Certs from the transfer agent as they have only done this as a service to us.
However if the Transfer agent is issuing fake certificates andt this is now public knowledge they will be held liable for that. The SEC is already taking steps.
Its not just one individual.
Think about it would a bank issuing thousands of dollars of funny money to many bank holders not be held liable ?
So it does look like the Transfer Agent will be liable.
Can you provide a single website that indicates how to check your Stock Certificate for Authenticity ?
So you can see we have a security problem!!!
Don't you agree...
Which has nothing to do with tracing stocks. The SEC functions much like a police department, and like a police department, their job is to catch crooks after a crime has been committed and hopefully deter criminal activity by their presence. Their rules and activities are governed by laws passed by Congress. Like a police department, they have no obligation to replace money or goods taken through criminal activity.
You keep avoiding personal responsibility. You bought the stock even though the SEC and many others have warned you against doing so. No different than loaning money to someone you barely know - if they don't repay it then whose fault is it?
Actually the SEC has not warned us because they had no idea thinking there were only 300 shareholders the entire time.
So what you're saying is that if the police has no idea they are measuring the speed of the cars at 20km off because their equipment is bad they won't have a problem if thousands of people are charged and they have prosecuted them in court and it turns out they were driving at the correct speed ?
Brokers don't issue certificates - companies do.
Actually its the Transfer Agents who are to keep track of the number of Certs they are issuing.
Bank accounts are insured up to $100,000 by the FDIC, an agency of the Federal Government. If you have money invested in stocks through your bank it isn't covered by FDIC.
Actually if someone manages to hack into your account and sell your shares you are still covered.
SEC is responsible for tracing our stocks
No, they aren't.
Actually their function is to create procedures and policies which are to be followed and to ensure that there is no illegal activity taking place in the stock markets.
They must therefore uphold these policies.
I also realize they are very understaffed, but in that case something needs to change like Brokers need to report inconsitent activity with huge sales of shares as it is their obligation to ensure they are real at the end of the day.
If its not the SEC's job... whose job is it ?