Was he on the list, too?

I doubt they're motivated by personal problems, though I can't say for certain. I have no idea what gets people like them involved in these kinds of scams.

Perhaps you have some insight into that.

There's something really Orwellian about a "Truth" Fund being financed by a bunch of liars.

The pinksheets are full of that kind of behavior. Haven't you heard of guys like Price, Valinoti, Simpson, Altomare, and Young?

And there's dozens if not hundreds more who play the same scam over and over again.

10% of the royalties on his bogus book? Hmmm... a $3 bet.

Not sure it'd be worth her time.

He's taken offense to Gary Weiss comparing the writings of all the nutjobs who post on Boo Boo the Scam Monkey's website to those of the nutjob who gunned down those people at Virginia Tech.

I knew it.

See, Janice?

Hey, Forrest, if CMKM Diamonds issued you some non-transferrable warrants to buy "new" CMKM Diamonds at a discount to "par" value, would you exercise them?

If you hold CMKM Diamonds shares, you flunk.

If you don't, or by some good fortune actually managed to short this junk, you pass.

What?

Like you haven't seen sleazier things happen with these trolls who rip off investors?

How much worse is it than Frizzie's $25 gag or Faulk's "book"?

Frizzleby had no problem shaking them down for six-figures.

And Faulk obviously hopes to tear some flesh off these bagholders, too.

Don't rule this out as a possibility: Someone who recognizes the value of 40,000+ gulliblers could issue non-transferrable warrants to the old shareholders to buy shares in "new" CMKM Diamonds.

You KNOW that a lot of these morons would exercise them, too.

That was a bit of a disappointment. When I saw that first line, "Exposing the lies by Mark Faulk", I thought it was going to be about someone "Exposing the lies TOLD by Mark Faulk".

Web hosting is dirt cheap these days, Forrest. If you pre-pay, you can get two years' service for about a million shares worth of CMKM Diamonds. HO HO HO

It is amazing that people would actually flock to that map and take pride in being shaken down by this scam. Maybe Jeff Foxworthy saw it and came up with the idea for "Are You Smarter Than A 5th Grader?"

Howie the Nurse should look into that. He may be due some royalties...

AKA "Howie the Nurse"... a complete idiot.

Thank heavens for unrepentant stupidity. There's no better source of alpha out there.

I don't know that I'd so quickly dismiss Frizzy as a "country bumpkin".

Afterall, this IS a guy who shook down the CMKM Diamonds shareholders for six-figures.

Will you send him another $25 if he asks?

Ask the goofballs in the Utah legislature how their measure worked out.

St. Armands?

Just have delidog put it in writing that he had been seeking shares before your encounter with him and that you did not actively solicit his interest in owning CMKM Diamonds stock.

Given his prior conduct, no one is going to accuse you of operating outside of the exemptions provided for private securities transactions.

Oh you did?

Well, that changes everything, Howie.

Where'd you find their 10-Q and their 10-K?

Sorry, Howie, CMKM Diamonds was never anything other than "all risk/no reward" for shareholders.

There are no rewards for handing your money over to crooked managements without lifting a finger to do some basic research.

If you're going to invest your hard-earned money into a corporation's shares, then you damned well better think about how they do business.

Of course naked shorting exists. It's a good tool for investors who recognize over-valued, over-hyped junk.

But it has never hurt a company. Ever.

If you would learn how viable corporations do business, you wouldn't keep getting stuck in stocks like CMKM Diamonds, WorldCom, and Kmart.

When Urban Ebbers was acquiring assets at wildly inflated prices, the mechanism for treating the difference between the insane prices of the assets he acquired and their book value got entered on WorldCom's balance sheet as goodwill.

So long as you can connive the investment banking community into justifying absurd valuations for your company's stock, you can continue on the kind of an acquisition binge like the one WorldCom pursued. But sooner or later, the balloon has to burst. It's like a junkie who needs increasingly larger hits of narcotics to get their buzz. Sooner or later, the respiratory depressive effects make themselves felt.

It was no different with WorldCom. The underlying business wasn't capable of sustaining the debt servicing requirements of an acquisition machine that couldn't be tamed and they ended up drowning in a bathtub.

No. Not $57.9 billion. Have you been hanging around Forrest or something?

Total Assets - > $103.9 billion

Goodwill & other assets - > $ 55.9 billion

Tangible Assets - > $ 48 billion

Total Debt - > $46 billion

Net Tangible Assets - > $2 billion

Room for error?

HO HO HO!

On the eve of WorldCom's bankruptcy, they filed a 10-Q that showed $103.9 billion in assets and $46 million worth of debt.

http://www.sec.gov/Archives/edgar/data/723527/000091205702020812/a2079976z10-q.txt

However, contained within that $103.9 billion in assets was a goodwill line item of $50.5 billion and an additional $5.4 billion of "other assets" (intangibles).

In other words, WorldCom's net tangible assets were less than $2 billion. For a company of their size, they were extremely leveraged and any slow down in telecomm would inevitably lead to their being unable to service their debt, which is precisely what happened.

Of course, there was that discovery where they had booked several billion dollars worth of operating expenses as capital expenditures. But that was just the coup de grace delivered to a writhing corporation that was already asphyxiating on its own vomit.

Do you know how much goodwill they were carrying?

And other intangible assets?

What did WorldCom get away with?

Ooooo... like Grace Jones?

Sure you're a math whiz, Forrest.

That why, with those math skills of yours, you can easily demonstrate how short sellers have harmed you. (You realize that you need an actionable cause to seek damages against those short sellers, don't you?)

The fight is long over. Anyone lucky enough to have shorted CMKM Diamonds wins. All that's left now is to taunt the mullets who continue to do the Casavant Dance.

(Hint: That would be you.)

Three years and you haven't learned a thing?

An investor as obtuse as you really should stick to those CD's. The government is not going to save you from yourself.

Too much time? Maybe. But you guys are definitely better entertainment than Gilligan's Island re-runs.

And yes, the stock is trash. You may not know it yet. Perhaps you'll never figure it out. But CMKM Diamonds is, has been, and always will be... trash.

You don't see me stuck holding any of this trash...

No one's stopping you from keeping your money in CD's.

If "Shorty" was playing in CMKM Diamonds, then "Shorty" was right and earned his gains.

Our judicial system is not in place to unwind the losses borne by incompetent investors.

No, Forrest, the interplead will do no such thing.

Only after the parties with claims against CMKM Diamonds (like Rutherford) have been settled will any distribution be contemplated for shareholders. The interplead merely lets the court determine who stands in front of the equity holders and what those more senior parties stand to receive.

And should that time ever come that anything remains for the shareholders, the determining factor for which shareholders receive a distribution will not be some dickhead lawyer from Texas with faxed copies of certificates from the mullets who bought and held this trash.

"Reeves", "Kiontke", "Brewer", and "Faulk" don't really strike me as Ancient Roman names.

Next time maybe put your money into Fidelity Magellan... or one of the Vanguard funds.