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5461 EOM
ROBBBBBB98.
If you're comfortable, can you send me your email via private message. If you're not a member, you can send it via private message during "happy hour" here (don't know which hour that is but it seems to come up every day at some odd time). Thanks.
SCHWAB AND NAKED SHORTING.
Looks like a few of the big boys are starting to prep the market for the inevitable. Get ready for some serious backpedaling as this area gets exposed further and further. The rabbit hole runs deeply ...
http://www.investors.com/breakingnews.asp?journalid=21728659&brk=1
SORRY GANG.
Mariner is correct. From here on out, if there are posters I disagree with, I will simply not respond. Regressing to finger pointing is not worth it. An easy path to fall down at times but I will take the higher ground. Sorry for the lapse. And now back to our regularly scheduled programming ....
SOMETHING FUNNY TO CONSIDER.
One thing the shorts probably didn't really think through when they were shorting out the wazoo at .0001 is that when people bought in a whole bunch at that price and this thing jumped past .0005 (and up to .0011), that people now only had to sell 10-20% of their holdings to feel fine "letting it ride". Normally they can get people to dump wholesale but this situation was a little unusual with SO many shares so highly leveraged at .0001. Man, if only I was 2 weeks sooner, I would have had 150 million shares instead of 30M and yeah, I probably would have sold 20 million at .001 to take my initial investment off the table with some profit and "only" get to ride 130 million shares. LOL As it is, I'm comfortable where I am. But I think this is pretty unusual for shorters to face this many "free riders".
INTERESTING CONVO RE: TRANSFER AGENT.
It's secondhand so take it for what it's worth. But I would not be surprised if a certain Transfer Agent was moving slower than normal to facilitate the process.
First read this:
http://www.ragingbull.lycos.com/mboard/boards.cgi?board=CLB01219&read=26467
And then this:
http://www.ragingbull.lycos.com/mboard/boards.cgi?board=CLB01219&read=25631
Pretty interesting stuff it it's true. There may be more than meets the eye in this transfer agent switch.
A PREDICTABLE DAY.
As expected, today was a holding pattern with continued controlled covering. Sublime was a good example (and no offense at all Sublime - you did what was absolutely right for you) of why they are holding this stock here likely. As much as we all would like to be overnight millionaires, with every day that passes more and more will drop off. The market makers know this. As I've said, they have two HUGE advantages: 1) longs are never as patient as they profess, and 2) news always takes longer than expected. There is just absolutely no reason for them to "panic" at this stage and start covering. Think about this for a second. What if NO news comes this week. Now all the longs start getting REALLY anxious. Or what if news comes but it's not the BIG news. It's "We got samples back from the lab and the results were X" but they didn't find the Hope Diamond. Market makers are in control here now. They are 100% COUNTING on longs having the patience of a gnat and history has almost ALWAYS proven true that when everyone is waiting for news, it rarely comes (or takes a LONG while). I asked before how many were ready to see this through and now we will be tested. "Things will happen soon" is a mantra that the market makers are all too familiar with in pinks and otcs, and it is a breeding ground for them to wear out longs. They needed to make it through the initial round of overexuberant buying which they did. Now buying is drying up. My guess is the vast majority of trades right now are between market makers and sells by impatient longs.
I have no problem at all with any longs selling here, especially at a profit. Do what is right for your account and for your peace of mind. But I will say that this IS a psychological chess game. Why hasn't Urban released news? Probably because his attorney has told him no. All the excitement and buzz by Urban, Melvin and others was unfortunate because my guess is neither of them bothered to ever check the timetable through with the attorney. Naturally, anything can happen at any time and I could be completely wrong. Tomorrow, CMKX could throw down the gauntlet and away we go. My guess is that this will be a long, time-consuming process to get things moving. Personally I don't care. If we have a royal straight flush (and I believe we do), it won't matter when or how it is revealed (obviously I prefer sooner just as everyone else does). But for all the people stressed out, anxious, nervous, and waiting on pins and needles, the market makers will play all of that against you.
Welcome to the world of pennies. It's a funhouse. I look for controlled short covering all week between .0005 and .0007. Possible to dip down to .0004 but I doubt it. Possible to jump up to .0008 but I doubt it. I think they're past their "hard shake" phase and know it won't work much at these levels any more. So if there's any uptick, it will probably be subtle and probably short-lived.
This week will be a grinder and I am predicting no news. Sorry. I know lawyers quite well. We really do screw everyone's timetables. LOL My guess is that if you went on vacation this week, you'd return to find everything status quo. Just my 2 cents. (2 cents? won't THAT be nice! LOL)
THANKS FOR THAT POST EAIEA.
Nice to see that Melvin is starting to get the big picture. Perhaps I wasn't the only one screaming about his recklessness. He's still not there yet. Words like "HUGE" and any other inflated descriptions are still a no-no but it sounds like he is definitely improving. Glad to see he mentioned "the lawyer". I like knowing Roger has gotten to him.
By the way, eaiea, would you like to buy a vowel? LOL
ANYONE NOTICE THIS?
They finally took down that idiotic "Get in while it's hot" animation on their website. Hmmmm. Message board shut down. Animation shut down. No more Melvin in IBC. They're on a roll. Now if they could only drop those ads at the bottom of their website and keep any of the Casavants from talking to anybody at the races. Hey, at least it's the right direction and it's not NEARLY as bad as QBID's "private message hotline" that announces the information in press releases before they're released. LOL
FINALLY FILLED.
It took nearly 2.5 days but I got my last order in at .0006 filled. Now at 30M shares officially. Ok, NOW we can release the hounds. LOL Thanks for waiting for me Urbie. Go ahead and give us the fireworks now. LOL
LOL. WATCH AS THEY ALL FALL IN LINE.
It's as predictable as the sun. They will march down one by one pulling all the tactics that have worked for them in the past. And then, if Urban really has them nailed, we finally get to see justice served.
Where have I seen ALL this stuff before?
http://investorshub.com/boards/read_msg.asp?message_id=3321229
MY THOUGHTS ON TRADING 6/21.
More controlled covering. There isn't a reason in the world for them to start running this up. As soon as they do, daytraders and momentum players will hop on board and their covering will implode. A more effective strategy for shorts in my opinion is to continue to keep a thumb on the price and squeeze out impatient longs. I look for trading in the .0005 to .0007 range for as long as they can get away with it. May take the sledgehammer from Roger and Urban to end this practice, and given how much longer things take with lawyers involved, that may mean part of this week. I'd like to see a Monday rally as much as anyone, but I'm keeping my expectations very, very low until news confirming any of our theories presents itself. I've been through these rounds before and two things the shorts can always take to the bank: 1) longs are never as patient as they profess, 2) good news always takes longer than anyone would like.
Controlled covering all week unless Urban/Roger lower the boom.
NANDI, WELCOME TO THE PENNIES.
To quote Obi Wan from Star Wars:
"You will never find a more wretched hive of scum and villainry."
LOL I hope this works out. Look at pennies as a casino with occassionally the chance to tilt the odds slightly in your favor if you're really careful. Hope you're ready for the most difficult stock ride of your life. At this level, you won't believe just how absurd holding a stock can get. As long as it's "fun" money, you can endure the ride and maybe even come out much better off in the end. All hands inside. Let's rock 'n' roll!!
JUST A FEW FOOTNOTES.
By the way, just in case anyone else wanted to know this, under Roger's credentials, "Order of the Coif" means you finished in the top 5% of your graduating class at law school. U of Florida law school is not a first tier law school like a Harvard or Yale, but it is definitely a second tier top law school (US News has them ranked #43). But more important is that Roger was the Executive Editor of their Law Review. That is functionally the equivalent of being the Valedictorian. Law schools' law reviews are scholarly publications that are cited in case law and legal publications throughout the country. They are considered SIGNIFICANT in their contribution to legal opinion. The fact that Roger was Executive Editor of Florida's Law Review is truly exceptional. I"m telling you from experience, I would rather hire the Executive Editor of a law review at a second tier firm than someone who simply graduated with a Havard law degree. Just my opinion. It might be easy to gloss over his educational credentials, but I wouldn't. The man is obviously a very, very, very gifted lawyer.
EMIT, YOU'LL BE COMPETING WITH ME.
I had an order in for 1.7M shares at .0006 on Friday all day. It never filled. Will have that order in again tomorrow. My rationale is this: All the nervous seller were shaken out last week. In my opinion, few if any would sell at .0002 or .0003 since .0001 is as low as it will go. At .0004 I think there would be too many buyers to make it not worth dropping it to that price for the shorts trying to cover. There is a chance some fills could occur at .0005, but I would think that would only be in the event of another panic which I'm doubting for this week (always possible though). .0006 is my price and I'll either wait for it or it won't happen. I've got plenty otherwise. That's my rationale and my opinion on buying these days. We'll see if the market cooperates. LOL
MANINFLA, AND THIS IS WHY I WILL PLACE YOU ON IGNORE ALONG with ms. shell. When you look to obviously manipulate the facts this blatantly, I have no further use in reading your posts. You've teetered on this line since the beginning but clearly have begun crossing it.
The PR on June 4 states:
"President and Chairman of the Board of Directors Urban Casavant announced that the company has entered into discussions with a large New York securities law firm to represent the company and has paid a retainer to that firm to begin the process of bringing the company into full compliance in order to be fully reporting."
http://biz.yahoo.com/bw/040604/45246_1.html
I don't think that press release could be any clearer in the involvement of the law firm. To assist them in becoming fully reporting, whatever that may take.
Your complete willingness to distort and manipulate the wording of the June 16 PR makes it clear to me that you do not have truth or objectivity as your guideline and are no worse than Ms. Shell. Did you really think at this stage that Glenn would come out with a press release and say "We have been retained to stop all the short selling." Not on your life. These things aren't dealt with that easily. For now "securities and corporate issues" is about as far as Glenn could phrase it until they have truly addressed it.
And that's awfully convenient to skip over the part of my earlier post that notes there are 16 Edwards & Angell attorneys in the "White Collar Crime" unit at E&A, none of whom are Roger Glenn. If Urban needed a defense team, one of THEM would be spearheading the efforts, not an attorney without that specialization. But hey, you're here along with Ms. Shell to doubt, distort and manipulate aren't you? Same reason you were kicked off the Sterling board, I am placing you on ignore here and recommend others do the same (unless they enjoy someone that bends facts this egregiously).
I offer again why I am so willing to ignore people that have a clear agenda:
http://investorshub.com/boards/read_msg.asp?message_id=3364331
TOO GOOD TO BE TRUE?
I have sold very early on two "too good to be trues" and had enough shares that, had I held on, I could have retired. Conversely, I have held on way too long on several that did indeed prove to be "too good to be true". What's my point? My point is that I don't believe in any philosophy on that level. It is what it is. And I'm just here trying to figure out exactly WHAT it is. :)
By the way, in what has to be one of the ultimate ironies I do in fact remember seriously considering tossing in for a few thousand shares of NITE back in 1999 when it was at a pre-split price of $5. It ran to a pre-split $200+ over the next 6 months.
http://finance.yahoo.com/q/bc?s=NITE&t=my
My how times have changed.
ADDENDUM TO LAST NIGHT'S POST.
I appreciate everyone's compliments. No backpedaling here, but just want to make sure it's clear why there is still risk and this is still a "risky" stock. The two things that concern me most (obviously WELL counterbalanced by all the positives IMO that make this an outstanding risk/reward ratio):
1. The shorts are large, strong and well-funded. You know how in professional sports, the guy that gets ejected is sometimes the SECOND guy that throws the punch? They never saw the first punch thrown so suddenly a technical is called and the second guy is the one tossed. Well, as absurd as this sounds, it wouldn't shock me for the shorts to come back screaming "No fair!" and attempt to have the SEC look into Urban for manipulating the market. Granted I think it would be hysterical for them to be screaming in court "Your Honor, I know we illegally shorted this stock into oblivion attempting to run it into bankruptcy, but Urban manipulated the market by buying up all the shares!" I know it sounds absurd but they'll have their high priced attorneys too and in my opinion this could be completely novel legal ground. My assumption would be that Urban would win the day on any such grounds but that does NOT mean this isn't going to be a hotly contested battle. I'm just offering up the reasons for POTENTIAL risk, not necessarily any actual risk. I expect that if Urban has the shorts under his thumb that they will pull every trick in the legal book to get out. And I would NEVER underestimate their cleverness, resourcefulness and more. Thankfully we have an outstanding firm and attorney representing our interests should the naked short issue actually materialize.
2. The other stumbling block are Urban and Melvin. These are obviously a couple of guys with some attitude. They seem like homespun, good people and that may be their downfall. If they don't tighten up their lips soon (the message board is a good start) they will put everything in danger. I just see them as two bulls in a china shop and god knows one of them goes out one night and gets drunk and tells all to some random investor who posts it all over the internet. These guys worry me. Hopefully this worry is unjustified.
I still believe there is plenty of risk associated in seeing all of this magically come true. And I don't discount the possibility at ALL that Urban simply hired Glenn to help them become a reporting company. That maybe the outstanding share count is 100 billion, it is trading normally and that we will attempt to build value by becoming fully reporting and through diamond exploration.
Anything is possible here. I just want to make sure that I express clearly that while i CLEARLY am invested in this because the risk/reward ratio seems very favorable to me, that this is NOT a risk-free investment. In fact, it is very risky. I loook for the shorts to pull their media connections HARD this week and have a very unfavorable "analyst opinion" published this week that makes CMKX sound like a scam. Whether it's through Forbes, Barrons or Stockwatch (3 publications I've always suspected are well under the shorts' control), they will pull a "hit and run" through the media at SOME point. They haven't pulled this card yet, but I look at it as a VERY likely possibility. THAT day will be unpredictable and volatile as any day you've ever experienced in this market. Hopefully Urban can get out enough irrefutable facts before any such appearance but, as I've said, we're on the lawyer's timeframe now, and that may not fit everyone's expectations. But everyone that has ever bought a very risky investment and was proven right, generally got a very huge reward. Those that bought in at the darkest hour on Healthsouth at 10 cents were smiling last week when a year later it had come all the way back and was at 6 bucks (assuming anyone held through it all). I'm still completely on the "connect the dots" theory I posted earlier. My instincts tell me that Roger Glenn was hired for some very serious business. We'll find out. Hopefully soon.
For those that missed my post last night, it's at:
http://investorshub.com/boards/read_msg.asp?message_id=3378958
For those that still have any engagement whatsoever with Ms Shell or others that I believe are actually a part of the short sellers (despite their infinite protests otherwise), here's my last comment on them:
http://investorshub.com/boards/read_msg.asp?message_id=3364331
THINGS ARE CERTAINLY INTERESTING.
A bit more research for those interested. Being a lawyer and fairly familiar with large law firm structures, I thought it would be helpful to dissect Edwards Angell. It certainly proved even more interesting than I expected.
The reason I did this was because no matter how many times I toy with the facts (or lack of facts), I keep coming back to one question: why did Urban choose a heavy hitter law firm and why specifically Edwards Angell and why specifically Roger Glenn?
Edwards Angell is based primarily out of Boston, but with a strong presence in Providence and New York. They are generally seen as a "Northeastern" law firm however, rather than a "New York" law firm. Which is where it gets interesting. Their New York office houses 44 attorneys. Of the 44 attorneys, Roger is the only partner that truly specializes in corporate securities. In fact, in total there are only about 4 partners in the New York office that I would even say qualify at all as Securities Partners, with the other 3 clearly having focuses in niche markets on securities (foreign acquisitions, insurance companies, and ERISA). In terms of general securities, financings, M&A, and filings, Roger is the MAN in the New York office. This is signficant. You do not have a presence in New York as a large law firm without making sure that your New York office is the absolute BEST that it can be in the securities department. With the proximity to the exchanges, Wall Street and all the financial business in New York, this is truly the "prestige" office. And Roger is THE guy.
Breaking it down further, pay close attention to the publication that he authored in 2003. Its focus is the Sarbanes Oxley Act of 2002. That Act is a set of some of the most complex securities laws ever passed to ensure proper corporate accountability and governance in companies after the Enron and Worldcom scandals, specifically with respect to filings and dealings with the SEC. I hope this is starting to sink in. To be selected to write an authoritative text on interpreting this Act is a testament to the respect, expertise and integrity that Roger possesses in this field. Now think more about our situation. When it comes to proper filings, navigating the complexities of SEC/filings, and doing it all ABOVE BOARD and with maximum ACCOUNTABILITY, Roger is simply one of the best attorneys perhaps in New York to fit this role.
Let me remind you. He is THE man in their New York office. Not one of dozens of partners. THE man. Now many might be thinking (and surely the bashers will be all over this) "maybe Urban did something wrong and needs Roger to bail him out". First, the press releases expressly stated Roger will "help them become fully reporting" which is quite different than than any corporate wrongdoing. Second, Edwards Angell has a "Corporate White Collar Crime" division specifically. Roger is not listed as one of the 16 attorneys with any expertise in that area. My opinion is that it is 99.9% unlikely that Roger would be involved with anything in that area when there are 16 other attorneys that specialize in that area at the firm. I'd also like to wrap into this that Edwards Angell is probably among a handful (probably among the top 10 in the country) of firms that specialize in venture capital and private equity financing. I cannot say how this may work into the equation but what I can say with confidence is that VC people at THIS level would not touch anything without complete and total due diligence and confidence in an emerging company. If in fact there is any additional financing (a secondary? a group willing to fund a move to get an asset base high enough to qualify for NYSE or AMEX listing?), this is THE firm to handle it professionally and with maximum benefit to shareholders and the company.
So let's connect the dots.
Three press releases in late 2003 to early 2004 confirm the buyback of 38 billion shares. Total listed shares as of February were 37 billion shares. 5 months have passed since then. During that time the stock basically traded at .0001. We do not know how many more shares Urban bought back during that time. Suddenly we have Urban switching transfer agents, announcing his intention of becoming fully reporting and hiring the top securities partner in the New York office of one of the nation's most prestigious law firms.
If you were simply looking to perpetuate CMKX and sell shares into the market, why would you do all this, particularly when "fully reporting" would now mean full disclosure on all transactions?
And why in the world if there were any "problems" would you hire the guy that wrote the book on strict corporate procedures and guidelines with respect to filings?
And this is where I ponder heavily ... Why Roger and Edwards Angell? Why would you pick the New York office's top securities guy, the firm's top SEC filings guy to handle your "fully reporting" status? And why would ROGER who assuredly as their top securities guy (particularly the one that PUBLISHED a legal primer on corporate accountability and integrity) EVER take on a pink sheet company when basically his entire livelihood would take on about the largest black eye possible if ANYTHING fraudulent were involved.
I know I'm rambling. Thanks for listening. A few other points. Roger specializes in Mergers & Acquisitions and was the only attorney I found listing "going private transactions" among his specialties. He also was CLEARLY the most recognized partner with respect to filing and becoming a public, reporting company. And being the MAIN guy in the New York office, something became lucidly obvious in thinking all this through .... and keep in mind this is just one attorneys subjective analysis of all this ... Urban has something so big and unique that not only does it require securities legal expertise of the highest level but it specifically requires that it be handled by someone who stands out in the ethics and integrity department as well. In other words, when all is available to the public, there should be an additional "protection" in everything in knowing that it was processed, approved and filed through an attorney with IMPECCABLE credentials. The fact that Roger Glenn published a legal treatise on Corporate Responsibility following the Sarbanes Oxley Act of 2002 is SIGNIFICANT. It essentially means that if Roger blesses what has transpired, it is meeting the HIGHEST standards of corporate responsibility. And if what I believe Urban is bringing to the table through Roger is what it is, this will be CRITICAL.
To recap:
I am 99.9% comfortable with dismissing the notion that Roger was brought on due to anything negative or to "bail out" Urban.
I am 99.9% comfortable with the fact that Roger Glenn in no way would take on a pink sheet company trading at .0001 if he had ANY suspicion of anything unethical.
I am 99.9% comfortable stating that Urban has hired a partner and law firm that represent the highest standards of ethical and responsible securities law practice in the country.
And all this leads me to the conclusion that this is no mere "get me trading on the otc bulletin board situation". No, my (endless) rambling above leads me to believe that this must be a situation of MONUMENTAL significance.
I am sorry this took so long to type. I hope people found it helpful. I have harped on the significance of this firm and man from day one. I felt it important to expand upon why this is the single most important hint to everything that has transpired so far. Good night and please have a wonderful Father's Day to all the dads out there. Hopefully next year for Father's Day, everyone will be considerably better off in life thanks to this investment. Take care.
FWIW REGARDING MESSAGE BOARD PRs.
This was released for QBID on Feb. 26 when the stock was at .0017. 2 months later it hit .028. (Just think how much higher the stock would have gone if it had been signed off with "Good job Frank!" LOL)
Triangle Multi-Media: Frank Olsen Alerts Shareholders
- PR Newswire
PALM SPRINGS, Calif., Feb 26, 2004 /PRNewswire-FirstCall via COMTEX/ -- It has come to our attention that some shareholders are posting negative, harmful and inaccurate information on financial websites. Mr. Olsen states, "Anyone posting false information regarding QBID and Triangle Multi-Media will be subject to legal action within five (5) days of said posting. We have had to do this before as it is a serious detriment to our company and it's investors. There is no reason other shareholders should be victims of false information, gossip and rumors."
FROM
FRANK OLSEN, PRESIDENT
760-323-4199
SOURCE Triangle Multi-Media
Frank Olsen, President of Triangle Multi-Media, +1-760-323-4199
http://ragingbull.lycos.com/mboard/boards.cgi?board=QBID&read=130542
AN EDUCATIONAL PROCESS.
I think what is happening is that Urban is (very) slowly adapting to the transition from that slap-happy fella at the race track who shoots it with fellow investors over a beer to one of a responsible CEO that could be in charge of a windfall of a mining company. And occassionally he reverts back to that "personality" Urban when it is inappropriate. This is probably going to be a real educational process for him because the standards do go so much higher when people finally start trying to take you for real. Mark Cuban is a maverick thinker who definitely has a style all to his own but he is a VERY sophisticated man when it comes to business.
I'm hoping that Urban gains his traction quickly here. He's made some VERY wise choices to get us here. As long as his core choices remain sound, let's just keep our fingers crossed that little embarrassments like this become less frequent.
ANOTHER THEORY.
Urban is so giddy with all that is happening behind the scenes that he doesn't give a rat's ### any more about what people may think -- if he wants to put out a press release with kudos to Melvin, he will and the world can kiss his ###.
I'm still tryin' but this is HARD. LOL The good news is that I've reviewed all their press releases in the past 2 years and this is the only one that truly ranks as "amateur". While some others may have been a wee bit on the fluffy side, most were generally pretty direct about the information with a small pump at the end. I don't know. Maybe Urban just really can't contain himself much these days. Sigh.
STUPIDEST PR IN THE HISTORY OF PRs.
I checked back in on the whim that maybe, just maybe, Urban would pull another "PR for the weekend" and boy did he. I will go on record that this is by far and away the most idiotic PR ever released by any company that I have ever seen. Thankfully it is harmless in the sense that there is no bad news in it. It is only idiotic in the sense that it is completely meaningless. Wow.
Those here know that I have adamantly called for the halting of that message board from day one. But for god's sake, handle it professionally. Shut it down. Put a notice on the board explaining why. And don't put out a PR that says "Good job Melvin!"
I'd love to say that this was Roger's doing to get this message board shut down but I suspect Roger had nothing to do with this whatsoever. Especially since the news release promises that the message board will be up and running again in the future. Roger would likely have shut the board down permanently and NEVER have put out a PR on it.
I'd love to say that this PR was put out as part of a master plan to give the shorts some help in covering by dropping the price on Monday, but I'm not stupid enough to believe something like that.
The only half way scatterbrained reason I can POSSIBLY conceive of to support this release (work with me here, I'm bending as far as I can) is that Urban is so principled and such a good friend of Melvin and so appreciative of Melvin (for whatever reason), that he took the insults to Melvin on that board very, very personally and just absolutely felt it necessary to explain to the world what happened and publicly proclaim his support for Melvin. I know. I'm gagging too. But it's the best I can do.
Well, I still believe in CMKX's success but it will be DESPITE idiot moves like this and not because of them. The only good I can see out of this release is MAYBE Roger will see it and sit these two delinquents Urban and Melvin down and explain a little bit about how to look and act like a professional company that has 1.4 million acres of incredibly valuable property surrounding the DeBeers multi-billion dollar diamond finds. Because right about now, they are looking like 10 year olds.
For the record again, I will say the following things must change as soon as possible:
1. Message board shut down PERMANENTLY.
2. No more animated garbage on the website.
3. Fire Melvin or, if not possible, hire a professional PR group to "assist" Melvin through this process.
4. Take all ads off the company website.
5. Gag Melvin and Urban.
6. All PRs are checked through Roger first.
Will this PR hurt us? Doubt it. Shorts may use it on Monday for a temporary dip. I doubt many will sell on it though. I may finally get my fill for 1.7M more at .0006 though. So maybe I should be happy. But I'm not.
Urban (and to anyone who speaks to Urban or Melvin next), buddy you need to start ACTING like a company that plans to go to the Nasdaq or Amex rather than sounding like a company that barely belongs on the pink sheets.
Sorry longs, I hate writing something like this but I have called it as I see it from day one. This PR does NOTHING to erase what I believe are the signs of ultimate success for CMKX holders: mind-boggling potential with our 1.4 million acre property, a lawyer of this level stepping in, and my opinion that Urban has the shorts cornered. I believe we will succeed for those reasons. In the mean time, I also believe Urban has the ability to do some pretty idiotic things. Like this PR. For some reason, I truly do believe Urban has the heart and character to try to do good and be a superhero to many. And maybe that side just gets the best of him and makes him do and say the things he does and says. I guess this is all part of the "risk" that accompanies stocks like this.
Urban or Melvin, if you are listening or reading, we love ya for all you've done but PLEASE accept your role in this plan and act accordingly. This means professionally, maturely and CONSERVATIVELY. Thank you. Good night.
HAVE A GREAT WEEKEND. C U MONDAY.
I think Urban will give us the weekend off and not release anything tonight. LOL Take some time with your families, do not touch your calculator and remember that there's a fun world out there. Time for me to hit a few Guinesses and a round of darts. And if you began theorizing that maybe I'm in England and maybe I never practiced law in America, then you REALLY need a break from all the action. LOL Pace yourselves. This would be a good weekend to break cleanly away from it all. This whole story will probably take quite some time to unfold. Enjoy the weekend. C ya Monday. :)
SPIN, you either believe me or you don't. Honestly it doesn't matter to me, but I certainly don't feel the need to post an order or order number simply because someone out there asks "how do I know you really did that". As for my opinions on the trading, they are my opinions. Sorry for being blunt, but I'm not here for a popularity contest. Either you listen to what I say and think it's helpful or not. Makes no difference to me nor will it influence the outcome of the stock.
What am I supposed to do, post a link to my Ameritrade acccount for you with my password? Please. Get real and understand this is a message board. I assume everyone here is mature enough to decide who and what they choose to believe.
MY 2 CENTS.
They kept it under control all day, exhausting the impatient longs. Nice little "kiss my butt" message at the end of the day to drop it to .0006 so that longs don't walk into the weekend feeling good. This is indeed now a game of pain threshholds and the shorts will test them to their limits until Urban and Roger reach deeper into the arsenal. I believe we have the firepower but right now, the shorts are giving us the middle finger. NITE and JEFF are clearly the conductors. The rest of the symphony is merely taking their lead. You can bet there will be a feeding frenzy by other market makers however once they detect that JEFF and NITE are throwing in the towel. All in all, a mediocre week and not much to say except that we will wait. As I have said many times, once the lawyers step in, you can throw out any previous "whisper" timeframes. Things will simply take longer than expected. I hope I'm proven wrong on that one. Doesn't bother me though. I like where we are and the way our future looks. Very, very bright.
By the way, FWIW, I had an order in for 2M shares at .0006 all day yesterday. They only partially filled it with 500k. I had an order for 1.7M shares at .0006 today and it never filled all day. At the end of the week, my guess is the shorts did some reasonable covering all week and successfully made the stock appear weak heading into the weekend. This also serves another purpose. Now that we have been held back, the little seed of doubt creeps in and when they let it spring forward to .001-.0011 next, more people will be saying to themselves "maybe THIS time I'll take 1/2 off the table", thus allowing more short covering. All a big psychological game in my opinion at this point. As Urbie and Roger reveal their cards, I believe the game will be over and the chips will be ours.
FWIW, My buy order for 1.7M today at .0006 has still not executed. Even with the takedown to .0005 x .0006. I just don't think people are selling at .0005 or less any more. Perhaps they needed to confirm this with one more attempted shake.
MOON2MKT, I do not know the procedures that a Transfer Agent must go through to verify the share count. But I am not surprised that it may take 1-2 weeks (maybe longer). My guess is that they probably must formally verify through a phone call or written verification the holdings of certain large positions, perhaps with brokers, firms, shareholders, etc. The company is likely very aware of the count before this is done, but you cannot release numbers without a formal verification. My guess is that the Transfer Agent must be comprehensive in checking through every holding. It would be quite an embarrassment to release a verified number and then a week later have to issue a correction saying "oops, we missed 2 billion shares". It's in everyone's interests that this audit be as thorough as possible. They have their checklist of procedures to ensure this. However long it takes, it will get done. They may already have it done but the company may have its reasons to maintain the privac of this number. If, and this is pure speculation, Roger gets this number and intends to negotiate anything with the market makers, he may be using it as leverage. We don't know what is going on with this, but I'm sure it will all eventually surface. Patience is key, hard as it is. Wouldn't life be nice if we could buy a stock in early June and retire by July?
Ain't gonna happen. The time frame for this grand plan is unknown but in my opinion everything is positive and we now must wait for as long as that is.
CALI. One strategy that I use when trying to accumulate but I'm concerned about not getting a fill is to split the difference. That's what I did yesterday. I wanted 4 million more and had a bid in for 2M shares at .0007 and a bid in for 2M shares at .0006. My .0007 filled. My .0006 partially filled (500k). Up to 28.3M shares now. My guess is that your .0006 will fill but things are getting squirrelly. Hope it works out and you get your shares. :)
OOPS.
Upon further reading, it looks as if this is a mock board created by someone else and NOT a board by CMKX moderated by Melvin. Sorry about the error. My hope is that the company CMKX board NEVER returns. It is simply not in the best interests of the company in my opinion.
WHAT A JOKE.
The new CMKX board includes a "disclaimer" that "This board is in no way affiliated with the company." LOL And Melvin the moderator works for WHO?????? Roger Glenn must be a very, very busy man, because I am quite certain when his time frees up to look at other issues with the company, he will have Melvin fired and/or dump their message board. I can't reiterate enough how unprofessional and potentially damaging that board is. You already know my shake on Melvin. The funny part is that this company in my opinion will succeed despite all this. Certainly not because of it.
TRADING 6/18
Trading is completely under control now. Smooth, steady. NITE and JEFF likely holding the line at .0007 so their buddies can absorb shares for cover at .0006 (yes, these guys work in large teams, in fact I wouldn't be surprised if at least 10 of the other market makers are somehow working for NITE and JEFF - a common maneuver among otc, high volume stocks). I'd also guess that you could probably get a sell order filled at .0007. Momentum will make this run, and they are making sure that will NOT happen. They are churning here so that the weak and daytraders sell out at this lower price. I look for a move off the ask by NITE/JEFF around 1/2 hour before the end of day. Could see a .0007 x .0008 finish today with my guess being a tape paint at .0007 for the close. I think the volume is low and they are ready to move up for the next round of selling but they will do this with a controlled, very gradual tempo. Just my opinion. We'll see how this plays out.
GOOD MORNING. HAPPY FRIDAY. EOM
I THOUGHT THIS WOULD BE HELPFUL.
Most of this we already know but this guy certainly hits the salient points SQUARELY on the head. Well worth the listen in my opinion. It is from IBC Radio as I understand it:
http://members.aol.com/junkmasterg/joel/joel1.mp3
NOW SHE IS COMPLETELY UNRAVELLING.
Now she is inferring that Roger's involvement in venture capital is a negative DESPITE THE FACT THAT THE DESCRIPTION OF THE ENTIRE FIRM OF EDWARDS ANGELL IS ONE THT SPECIALIZES IN PRIVATE EQUITY AND VENTURE CAPITAL!!!! Good god, is this woman really this sloppy? She cites his scholarly article in The Venture Capital Journal (the most respected Venture Capital pub available) as proof of what???????? That he has an excellent reputation as a lawyer? That he is highly skilled in the specialty that Edwards Angell specializes in? No mention of his publications on Corporate Responsibility or his Going Public Sourcebook or maybe they just didn't have ANY negative spin you could put on them???? I have no explanation for Ms Shell's abominations today other than she is clearly just plain losing it. Ok, I waited around to see her response but this is even more laughable than anything else I've read from her. Good lord. Somebody get me a tissue, I'm laughing WAAAAAY too hard.
Back to ignore. Not even WAITING for a response.
PROOF. CASE DISMISSED.
With all the messages I was getting today questioning my posts, I figured I'd turn off my ignores and see what the big brouhaha is. Well, as it stands the first message I encountered was Ms. Shell's post below:
http://www.investorshub.com/boards/read_msg.asp?message_id=3363995
Now I am going to disassemble this post and show for once and for all how a basher operates. How they will twist and distort to make you question and distrust anything and everything. Then we can dismiss this basher (and her crony fung_derf) and everyone can be comfortable having them on ignore as I am about to demonstrate how THEY CAN NOT BE TRUSTED UNDER ANY CIRCUMSTANCE. Amazing that Ms. Shell's claims to investigate these things so thoroughly when it took me all of 5 minutes to locate the information I needed to expose her fraudulent assertions.
Ms. Shell proudly boasts that she has completely negated my point that pink sheets don't hire top-tier lawyers. How so? She found two companies on the pink sheets that had Roger Glenn as counsel.
Let's dissect:
planet411 is the first company. Ms. Shell terms this a pink sheet. Yet she failed to note that the document cited was from 1999. Where was planet411 at that time? Oh what's this? A press release from Netscape and planet411 back in 1999? What's that it says? Planet411 trades on the NASDAQ NATIONAL MARKET SYSTEM? Hmmmm. I guess Ms. Shell failed to notice that, being the sharp researcher she is. And I guess she is implying that a partner that took in a dot.com company listed on nasdaq back in the dot.com explosion days (1999-2000) should be avoided? Never mind that probably ever major securities partner during those two years in San Francisco and New York likely represented a dot.com on the nasdaq. That was kind of the future back then. But I digress. The bottom line is that Ms. Shell failed to research this company. She failed to note that Roger was counsel during a time when it was a nasdaq listed company. She fails to mention any of this because that's not her aim. Her aim is to confuse and distort. To make others believe she has found the holy grail to refute me. Well I think I just dropkicked her first point.
Link: http://wp.netscape.com/newsref/pr/newsrelease742.html
Brek Energy: Ms. Shell would ALSO have you believe that the second company she cited in her link is a pink sheet company. Oh it is. But back when Roger was counsel, if you'll read the document she cited, IT WAS A PROSPECTUS FOR AN OFFERING FOR BREK, A COMPANY LISTED ON THE NASDAQ NATIONAL MARKET SYSTEM. Need further proof? Here ya go:
http://wp.netscape.com/newsref/pr/newsrelease742.html
Notice that little paragraph about how it's listed on Nasdaq? Notice the date? Notice that date aligns with the exact document Janice cited. Notice how at this time, this was a nasdaq company and NOT the pink sheet she claims Roger represented. Wow, that's 0 for 2 for Ms. Shell. Not a terribly good researcher and a much worse investigator.
Did Ms. Shell provide any evidence about WHEN Roger began or ended his representation for these companies?
Did Ms. Shell provided any other companies since the only two she listed were Nasdaq companies? Is she trying to say that Roger's representation of Nasdaq companies is an issue? Maybe she thinks we shouldn't go to the Nasdaq?
Fellow CMKXers, this is a case closed slam dunk tightly sealed presentation of exactly WHY I have had her on ignore for 2 weeks. All this time and THIS is the best evidence she could come up with to refute me? The only reason I did this is to show exactly WHAT the bashers do and why it is so WASTEFUL to even bother with them.
Wow I'm impressed Ms. Shell. You proved that Roger was counsel to a Nasdaq-listed internet company during the dot.com craze when the internet companies were the most successful of all nasdaq companies. You proved that Roger handled a prospectus for an offering of an oil and gas company when it too was listed on Nasdaq. Congratulations, you proved that Roger represents companies that are listed on Nasdaq. Now watch, she will rebut with "and where are they now?" AGAIN ignoring the fact that 90% of all the internet companies back in '99 busted. As for Brek, it's oil & gas. I don't know it's history but BACK THEN it was a Nasdaq stock and frankly I don't care to take any more time to research it's history (I'm sure Janice will but she ain't much of a researcher now is she?)
Anyway, case closed. Proof positive above that Janice and her cronies are not here to help. They are here to confuse and distort and manipulate. If you enjoy being confused, distorted, and manipulated based on shoddy research and bogus information, please continue to listen to her.
I won't even go into her or Fung Derf's other juvenile attacks on me. It's just not worth any MORE of my time. Good day. They are back on ignore. If in the future anyone references me an email that has anything to do with what Janice or other bsahers assert, I will refuse to answer because, as you can see, it's NOT WORTH THE TIME.
Thank you. Good night.
SINGITLOUD AND OTHERS.
Well, if I had known it was Fung Derf that caused all this commotion, I would not have responded. But I already did respond to a different poster who obviously had the same concerns. I find it a bit funny that people are tracing back my posts trying to find discrepancies, but then again that's what bashers like Fung Derf do. Chisel, chisel, chisel until they find a crack SOMEWHERE. However, I think I adequately addressed this point in my earlier post. If anyone still has an issue with this answer then they're pathetic. . I won't waste another post on this issue.
http://www.investorshub.com/boards/read_msg.asp?message_id=3359246
FOR THOSE THAT CARE.
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001269879%252D04...
Looks like someone is in the market for new accountants. Didn't Roger work at Deloitte and Touche? I wonder who the new accountants will be for UCAD. I wonder who our new accountants will be. Perhaps one and the same? After all, we do have the same transfer agent and we're already JV partners.Yet one more "mystery" awaiting resolution.
OPTIDOC, MY THOUGHTS.
I don't think Roger would let it get to that level. I believe this will all be a negotiation with Urban/Roger holding ALL the trump cards. Some market makers have misbehaved but they have no desire to go bankrupt or have this blow up in their face. They want to work this out. Urban has every incentive to work this out in a controlled manner as well. Shorts are powerful. He'd rather just do this in an orderly fashion and avoid the controversy. Discussions begin. The market makers have a choice to make. They may be asking for more time to cover. Who knows. But if at any point Urban/Roger I believe have a VARIETY of options at their disposal to force the shorts to cover. They don't want to have to use them but they will if the MMs don't cooperate. I think that's what's going on right now. My only question is whether the MM's actually ARE cooperating and just doing it in a controlled manner, or if the current trading should be construed as defiant. Just depends on the time frame and discussions that they may have had about handling this. After reading Sterling's post, it is indeed possible that Urban may actually own every share technically outstanding at this point. At which point, a dividend of a dime would cost him nothing (it all goes back to him since he owns all the shares) but would force the stock price up to an immediate 10 cents. Urban may or may not have that trump card. But I suspect he has plenty of weapons. And I suspect he and Roger will make careful decisions about how to handle this professionally, legally and in the best interest of all shareholders.
Now my personal opinion is that this 1 Trillion share number is bogus. My gues is that the real naked short is more like 100 billion. Now if the market makers gradually take this stock price up while covering, and in the end can cover their 100 billion at an average price of say 2 cents (remember a LOT of covering at these hundredths of a penny right now), tht would only be a penalty of $2 billion. A virtual slap on the wrist for this community. Tobacco companies pay out multi-billion dollar settlements without blinking. The financial community certainly can take this.
The problem would be if Urban got greedy. And I don't think Roger will let him. If he truly owns more than the outstanding shares and pulls all his physical certificates, they cannot cover at any price. He could take this to $100/share. But by then, you'd likely encounter enough chaos to cause true, real problems in the system. I think Roger will be the safeguard against this.
It's all wild speculation. I think people overestimate three things: 1) the actual short position (1 trillion seems too wild to me), 2) the price at which shorts would have to cover (controlled covering should keep this low) and 3) how much Urban would punish the shorts (I think it's in his interests to let them off easy and I think he knows that).
Those are my thoughts. I'm sure the bashers will pile on like ants to dissect them. I don't care nor will I respond to them. Sterling makes some good points. We don't know exactly what Urban has at his disposal but my guess is that he has some sort of trump card and that is what brought Glenn on board.
THOUGHTS DU JOUR.
The controlled covering continues. Shorts probably still in denial that this will back fire and believe they can cover at this price. But even if they can't, they have capped the momentum comfortably and now simply await shares coming loose, hoping not too much buying re-emerges. Had they let the momentum run at the open, it only attracts daytraders and more buying and that does not help them cover. They absorbed it well. Built a solid line of defense and now will work the market for shares. As I said, a close at .001 this week would be progress. At least until the next round is fired from CMKX.