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geoly31 - What is your source regarding news today or tomorrow? You're blasting it everywhere. Care to share what you think they will be announcing? The price may be moving, but the volume isn't that great. I mean, today although the price is fluctuating between .06 & .07, the total $ traded is a little more than $10K. Yesterday's volume only caused about $25K in trades. Just seems like pocket change to me, if there were something big going on I would think the $'s changing hands would be much higher. JMHO.
I believe these have been taken into account already as they were addressed earlier in April.
FWIW - I believe this is just registering the warrants that were addressed here:
http://biz.yahoo.com/e/050401/neom.ob8-k.html
Phil
I have heard all the screaming of a NSS, I just haven't seen a well thought out, well written explanation of what everyone thinks is / has happened with CMKX stock. I see a company that appears to have an unlimited supply of cash, not that we can know for sure since they conveniently can't file because of the NSS, to pay for lawyer after lawyer, consultant after consultant, accountant after accountant, auditor after auditor and still can't file the basic financial paperwork to continue trading. I forgot to mention they have cash to fund a racing team also. Who knows, maybe due to SOX, they can't file and sign financials that aren't up to snuff and on the other hand, they don't dare file the real financials. Hey, just my ponderings, all of which with a couple of bucks will get you a cup of joe at the local java joint. Seriously, however, anyone who can explain exactly how the DTC has propegated the NSS here please I'm all eyes!
B
Zen
Sorry to put this at such a simple level, but what exactly, do you feel the DTC has done in regards to CMKX. I understand the NSS issue and I understand the DTC matches the buys with sells (again very simplistic), what I am having a hard time understanding is exactly what everyone thinks the DTC has done here. Just trying to get a handle on this issue. TIA.
B
I would disagree. If a NSS position exists, I don't think those are relevant to the discussion. The company needs to show how many shares they issued, period. If they issued 800 billion shares and there are 1.6 trillion shares in peoples accounts that’s not relevant to the financial statement. They are hiding behind this NSS issue, rather than proving it exists by showing the shares they have issued. Maybe, just maybe, there is no NSS and they have issued all of the shares that are out there, regardless of their authorized share counts. That's JMHO, however. So far, it appears they have been denied by the judge every motion they have made. Even IBM didn't want to go to the hearing and the motion for his subpoena to be revoked was denied!
B
You can probably bet that NEOM will double in the next 6 months. It's near .60 now, but it's up from the teens a few weeks ago. This one is waiting to really explode. MOBL is another very similiar stock around .20 that could do a similiar thing to NEOM. JMHO.
Zen
JMHO, but to put this in simplistic terms, I feel that there are two parts to this situation.
First, you either trust UC / IBM, et al. to do what they say, or you do not. Personally, at this point I do not. They have talked a good game for nearly a year now and all we have to show for it is a bunch of worthless divi shares and a virtually untradeable main investment. I, for one, do not feel UC cares one iota for the basic shareholder. That isn't necessarily a bad thing, it's just that I don't believe he is this great benevolent individual most make him out to be. He is out to make money and if the shareholders make out great, if not so be it. That is my feeling of his philosophy. Follow the money. How does UC make his $, that is where the shareholder needs to be to make their $.
Second, and again JMHO, if anyone really believes this little failed to report company is going to take the SEC on and win they are very naive. I would think the best possible outcome is some truce between CMKX and the SEC. The SEC holds all the cards here. They can cease and desist trading in this company and our investments are gone and we have absolutely no recourse, while UC and his gang can move on to the next company.
Lastly, the more that comes out the less I understand what RG did. This statement, in particular, really makes me wonder: In July 2003, CMKX filed a Form 15 in an attempt to terminate its registration under the Exchange Act. However, this filing contained an error in the stated number of record stockholders, which was discovered by CMKX's new securities counsel in February 2005.
The new firm discovered the error from 2003, if that is the case what did RG work on? All this talk of Sarbanes-Oxley and the S-O expert is no longer working for them. Seems odd that they would make such a point of discussing S-O, and how they won't file because of it.
JMHO, but I think everyone is misinterpreting those billboards. Got CMKX, is a slogan for CMKXtreme racing. I would imagine that the purchase was through the racing company, although it's sponsor is CMKM Diamonds. I don't believe CMKX refers to the ticker directly, rather just the abbreviation for CMKXtreme. Money probably at some point came from UC and CMKM Diamonds, but the billboards themselves aren't necessarily advertising stock to sell. If it did, I believe there would need to be a disclaimer regarding a prospectus, etc... Again, JMHO.
B
Drillbit -
Not to be too cynical, but until CMKX actually follows thru with something I don't give much credence to this SEC info. So far this is just another penny stock who issues a bunch of great sounding, but hollow PR's. To date we have gotten a whole lot of nothing. We have a bunch of untradeable divi shares and a main investment that is essentially worthless. Even if they do file, what does it matter if they have the going concern wording and no business plan or verifiable revenue? Personally, I only hold my shares because what I would get for them isn't worth it. Unfortunately, I am not sold on the fact that this isn't some shell game where the investors are going to be left holding the empty shell. GLTA.
B_L_S_H
matrix - thanks for the link. The problem, however, is that the company hasn't filed any kind of registration form. If they had, we should be able to find them on edgar, etc... So, if they haven't filed a registration, what is the reason for their self imposed quiet period? TIA
B
Mach -
Personally, I don't think anyone can hurt our CMKX investment at this point. The stock is about as low as it can go and we have a bunch of dividend shares in other companies that may never be tradeable. As for this "quiet period", I feel this is something dreamed up on these boards and somehow managed to become fact. Is there any proof that we are in some kind of quiet period? Not that I am aware of. Someone please post links, if they exist. GLTA.
B
dustybutler1 - I don't know about you, but I get a little leary when these tout sheets start talking about a stock. I don't place much value on them. In this case, it's just a regurgitation of known information. It's like one of those DD posts people make on these message boards. First it was Green Baron, now we have Value Stock. How about they take out the trash, disassociate themselves from these touts and do something that actually has a positive affect on the share price. JMHO.
Buy
I'm curious as to what quiet period you are referring to? I knew they were in a period they could not speak basically as a result of this SEC investigation, but am not familiar with any "reported" quiet period. I've read much speculation, but no facts to support anything. TIA.
Looks like Langley Park is taking a big hit:
http://www.londonstockexchange.com/en-gb/pricesnews/prices/system/detailedprices.htm?sym=GB00B02VD56...
It was down nearly 40% today. A couple of very large transactions occurred. I wonder if UCAD, or one of their other investments, cashed out today.
My point is that, without a filing showing otherwise, Urban has divested his position in CMKX. I don't know if that is pre or post split adjusted. Either way the $1.67 is still below market, it's just a matter of how much. All of the companies we have received dividends in are getting the meat from CMKX, claim percentages, etc... It appears that UC would have a controlling interest in USCA now:
http://www.sec.gov/Archives/edgar/data/1277507/000127750704000004/xslF345X02/primary_doc.xml
Rendall Williams only has 88,720 shares and UC controls 9,000,000 and John Woodward has 465,000
http://www.sec.gov/Archives/edgar/data/1104194/000123224704000043/xslF345X02/primary_doc.xml
Shell game as someone else mentioned comes to mind. I just can't believe that if CMKX was really "the stock of the century" the big money would have bought in by now. The longer it goes without us getting any significant information regarding CMKX the less confident I get that anything will ever happen with it. JMHO.
Urban buys UCAD shares way, way below market and then that money is used by UCAD to purchase mineral rights from CMKX?
http://www.sec.gov/Archives/edgar/data/1277505/000127750504000004/xslF345X02/primary_doc.xml
Since its inception the Company has had limited operating capital, and has relied heavily on debt and equity financing. During June, July, August and September of 2004, Mr. Urban Casavant, who is a Director and the Chief Executive Officer of CMKM Diamonds, Inc., and four other persons related to him by blood or marriage, purchased 9,000,000 shares of the Company's common stock at a price of $1.67 per share in a private placement exempt from the registration requirements of the Securities Act of 1933 (the "Securities Act"). The proceeds were used to exercise the Company's option to acquire mineral rights from CMKM Diamonds, Inc., as described above, and for general corporate purposes.
Looks to me like all the value is going to be with the other companies and CMKX will eventually be worthless. JMHO Thoughts?
Witchhouse - Do you have a link to the actual SEC statement you refer to? I can only find miscellaneous notes on different sites, but nothing definitive from the SEC. Thanks.
GTC
From the Langley Park information on the London Exchange:
http://www.londonstockexchange.com/en-gb/pricesnews/prices/Trigger/genericsearch.htm?bsg=true&ns...
Then click the NEWS icon for Langley Park. The article from 11/1 (click the net asset values link) states:
Note: Trading in the shares of US Canadian Minerals, Inc., which accounted for 6.7% of Langley’s portfolio at the date of investment, was temporarily suspended on 28th October 2004 until 10th November 2004. Pending further announcements Langley’s shareholding is currently being held at 50% of it’s pre-suspension price and now accounts for 8.1% of the value of Langley’s portfolio.
Wonder if that 11/10 date is just an estimate, or is it a hard and fast date.
Question for the board. Been gone a few weeks, so not sure if it was discussed or not, but my UCAD divi shares in my Etrade account did not get modified for the forward split. Is this just something that will take some time to occur, or were our divi shares not supposed to be affected by the forward split? Thanks.
investorcg - you are correct:
http://www.sec.gov/Archives/edgar/data/1102217/000113543204000151/galaxymineralsbody8k15jul04.htm
This probably explains better the UCAD arrangement and how it is considered "financing". They will sell 1/2 the Langley shares immediately to raise funds:
Langley is a privately held foreign corporation located in London that was formed for the purpose of entering into similar stock exchange transactions and anticipates trading on the London Stock Exchange Plc by September 30, 2004. The shares of our common stock, and the shares of Langley ordinary stock, will be placed into an escrow. If Langley’s ordinary stock is not traded on the London Stock Exchange by September 30, 2004, then we have the right to rescind the transaction and both parties receive their respective shares of stock back from escrow. If, however, Langley is successful in obtaining a listing on the London Stock Exchange by September 30, 2004, then Langley will receive the shares of our common stock from escrow, subject to a two (2) year lock-up, and we will receive one-half (1/2) of the Langley shares. We intend to liquidate the Langley shares that are released to us within a reasonable period of time following their listing on the London Stock Exchange in order to raise capital for our operations. Although we agreed upon a value of one British Pound Sterling (£1) (approximately U.S.$1.80 per share) per Langley share, there can be no assurances that we can liquidate some or all of the Langley shares at that price.
Wonder if these guys rescinded the deal or not since Langley didn't start trading until the first week of October?
Reverse Dividend point of view -
Take this in reverse and assume all 7,500,000 UCAD shares were distributed at a 0.00000962 ratio, giving an implied O/S of nearly 780 billion CMKX shares. Now, if, as many have stated the O/S is much lower than that 780 figure where did the rest of those UCAD divi shares go? On the flipside, if the actual O/S is around 780 billion then UC has no shares to be dumping. I guess, in my mind, it's the old you can't have your cake and eat it too. Either the O/S is 780 billion and therefor there are no shares remaining to dillute further, or there are far fewer shares O/S and they can continue to dillute but there would have to be stray UCAD shares at the ratio above times the # of CMKX shares less than 780 billion. Am I wrong in this thought process??? GLTA
CMKX Share Question(s) -
Earlier this morning I put in a limit order for CMKX shares at .0002. This was filled nearly instantaneously. Did I purchase real shares of CMKX or phantom NS shares? If you operate under the assumption that a large NS problem exists for CMKX, how is it shares are still so easily purchased and at such a low price? All thoughts appreciated. Thanks.
B_L_S_H
Mach -
Do you understand how this is considered a "financing" deal? I mean it is a pure share exchange as far as I read it. By the way, here is the quote for them (LPI on London Exchange):
http://www.londonstockexchange.com/en-gb/pricesnews/prices/system/detailedprices.htm?sym=GB00B02VD56...
Hope that works, if not go to www.londonstockexchange.com and due a search on symbol LPI.
The PR's have stated the valuation of shares from LPI would be $1GBP/share. The "starting" price appears to be around $30GBP. This one just seems to confuse me beyond no end. Thanks.
MHO - UCAD:
In my opinion, the action in UCAD the past day or so has less to do with CMKX and more to do with the UK "funding" transaction. The PR states it's a funding transaction, however I read it as a share swap between two companies. UCAD having immediate access to liquidate 50% of the shares it receives from this UK investment firm. The other 50% is bound for two years. Here is where I think the price action is related to this. Per the PR the value of the UK companies shares is $1GBP/share. Taking the value of $9,005,355 (a strange figure to say the least) and converting it to GBP using the current exchange rate of 1.7796 US for each GBP you end up with 5,060,325 shares of the UK investment company that UCAD would receive today. In exchange for those shares UCAD is giving the equivalent value of UCAD shares to them. Consequently, the higher the UCAD price is at the time of the transaction the fewer the number of shares they have to give the investment firm. Factor in that the president just happens to purchase 15,000 shares at 8.33 on the same day the price doubles tells me their setting the floor value for UCAD shares as they relate to this "financing" transaction. Whatever price/share is used at the time of the transaction becomes the floor price used to determine how much of the remaining 50% of the investment firms shares UCAD gets to use in two years. If the price of UCAD is 50% lower than the transaction price, they have to return 50% of the remaining shares to the investment firm. Bottom line, I feel the action of the last few days has everything to do with this transaction with the UK company and less to do with CMKX, NSS, etc... Also, the PR stated that the UK company would be trading on the London Exchange by 9/30/04. That does not appear to have happened. All, JMHO. Contrary opinions, arrow shooters, etcetera gladly welcomed. GLTA!
Hoby111 - just got to look at your response. Thank you for the very detailed explanation. I now better understand your point. I have a vague understanding of the NSS concept, however since I don't follow these things as closely as most on the boards I am not convinced one way or another as to the extent of the problem as it relates to CMKX. Regardless, my main concern is the price of CMKX and, as of yet, it hasn't participated in the gains of all it's "partner" stocks. I am one that is skeptical, but hopeful as to the plans regarding CMKX. Until I actually see a dividend share in my brokerage account, I will not fully believe they will actually be distributed. I am also concerned that if the divi's are distributed (the restricted ones that is) that they will never become tradeable as the UCAD filing doesn't guarantee that they will. Holding and hoping, but not getting irrationally exuberant! Good luck to you and thank you again for you well detailed posts.
B_L_S_H
hoby111 - thanks for the response. Now, unfortunately, I seem to be even more confused. What do the MM's have to do with the divi? UCAD issued Urban restricted shares which he, in turn, is going to distribute to the shareholders of CMKX. I don't see what part the MM would have in this process, they wouldn't be handling the divi shares. Thanks again and GLTA! Another thing, any thoughts if the divi will be there in the morning or after close some time tomorrow?
Confused... How would MM's buying UCAD today, help them clear a naked short position? I honestly don't understand the mechanics of this. TIA
No Problems - That may be, i hadn't seen that but haven't spent much time reading the boards lately. I just was looking at the exchange for new issues that might be the one. Regardless, I think the share price issue I mentioned would still apply. Thanks.
B
Possible UCAD UK Partner? link:
http://www.londonstockexchange.com/LSECWS/Templates/T6.aspx?NRMODE=Published&NRORIGINALURL=%2fen...
Click on Pearl Street Holdings PLC
Then Click on Company Details
The PR from August stated the value of the UCAD shares had to stay at or above the price on the date of the transaction after the two year holding period, otherwise the UK firm would deduct shares from UCAD's holdings. Seems to me, if this transaction is now done, or in the process per today's PR then today's action would be setting that minimum value of UCAD for that financing transaction.
951 is a Riverside California area code. Don't recall any mention of the LA area with SSWH. Still am long SSWH, but IMHO this is still a fluff PR. No specific mention of the accounting company, no dates for moving to the OTC. I have seen many pink sheet companies announce they are going to make the move and never do. CMKX has announced similiar, but as of yet nothing. Lots of speculation but nothing definitive. GLTA
Prospector777-
The way I read this:
The shares exchanged hereunder shall be newly issued restricted shares under Rule 144 with a holding period of at least one year from the date of their issuance by UCAD and shall not have the holding period thereunder shortened by means of a dividend.
It is a minimum of 1 year, with no guarantee the shares will ever have their restriction removed. I have shares in my brokerage account now from a similiar thing from another stock from a few years ago that still are untradeable.
In my opinion, until I recieve any and all reported dividends in my brokerage account I will not sell any of my CMKX shares. With the lack of specific wording in the PR's and the conflicting information people seem to be getting from their brokers, the only way to guarantee you get any actual dividends is to hold your shares until you have them in your account.
As for SSWH, I have had an order in for .0011 since early this afternoon, before it jumped to .0013/.0014, that was never executed. In fact, after the order had been in for awhile, the quoted price dropped to .001, but still no bite.
JMHO
VooDooman - Did you happen to ask them what SGGM's share structure is? Their last filing in 2002 showed they only had an authorized of 30,000,000, yet today they are giving up 200 billion. Post the phone # again if you don't want to call and I will. OK, now I see that other post showing the update to 950,000,000,000. TIA
B
zen
I think the UCAD divi was just revised based upon the A/S increase, it's still just an estimate not hard fact.
The CIM dividend makes no sense, unless the full 40 billion is not being handed out.
JMHO
B_L_S_H
Huh is right!
I will, however, offer a thought. If, and I think it's a big IF, there is to be a cash dividend in the future, maybe they will be credited to these cards? Weird, regardless. JMHO!
Devil's Advocate
OK, this won't be received well, but I have to at least offer a contrary opinion to last nights PR. I have a funny feeling we are in the midst of a very high profile shell game. Shares and $ are moving back and forth between several related companies over the past few weeks. The PR states UC gets a maximum of $62 million for his 40 billion shares. That means he's getting at most $.00155 / share for his stock, a tidy profit but not the big #'s people keep talking about. Additionally, the PR states: Due to Casavant's share contribution to the property acquisition by CMKM occurring prior to the Aug. 20, 2004, date, Casavant will not receive this or any subsequent dividend. I read that as UC has divested all his holdings in CMKM, he won't receive the dividends because he no longer owns shares in the company. That doesn't give me a lot of confidence.
Again, all is MHO, but the thought that he's been buying at .0001 and selling at .0003 and is going to turn around and give that personal $ to shareholders is a bit far fetched.
Good luck to all.
CMKX #'s?
OK, the numbers from yesterday's PR are interesting:
UCAD gets 5% of the mineral claims for 7,500,000 shares of their stock. Now, at today's current price of $4.25 that equals $31,875,000. If that is 5% than the total value they are placing on their mineral rights is about $637,500,000. Now, is that with or without the diamonds? The next part I don't understand is their option to buy another 10% for $15 million in cash. That 10% only places a total value of $150,000,000 on the rights. Any help understanding all this would be greatly appreciated. Thanks.
B_L_S_H
Mach - CMKX ?
It may have been discussed earlier, but I am curious as to where the $ came from to retire the 20 or so billions of shares that were retired. In April 2003 they gave 1/2 billion shares each to two consultants ( http://www.sec.gov/Archives/edgar/data/1092299/000111776803000024/casareg.txt ), yet in Nov/Dec 2003 they retired 16 billion shares. Unless I am not understanding share retirement, at the lowest price of .0001 16 billion shares would cost $1.6 million. Thanks.