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Up to a point. Except that I believe Urbie was fully complicit in what happened, and that I don't believe there was ever a significant short position, unless it was created by one of Urbie's cronies.
Update: U.S. Canadian Minerals, Inc. - Oh Wells!
Investigative Reports
March 24 2006
http://www.stockpatrol.com
The staff of the Securities and Exchange Commission has taken a significant step toward recommending civil securities fraud charges against U.S. Canadian Minerals, Inc., (Pink Sheets: USCA). On March 14, 2006, the Company received a “Wells Notice” indicating that the SEC staff may soon urge the Commission to institute a complaint alleging that U.S. Canadian has violated the federal securities laws by making material misrepresentations, employing improper accounting practices, and failing to make required filings in a timely manner.
This is not the Company’s first run in with regulators. On October 28, 2004 the SEC suspended trading of U.S. Canadian shares for ten days, citing concerns about the accuracy of publicly disseminated information regarding the Company’s financing and mining activities and claims about the value of the Company's assets.
U.S. Canadian has not filed any quarterly or annual financial reports with the SEC since November 2004, when it filed a Form 10-Q for the quarter ended September 30, 2004. U.S. Canadian later divulged that the September 30, 2004 Form 10-Q (as well as two previous financial reports) could no longer be relied upon because it placed too great a value on certain mineral rights.
U.S. Canadian partnered with another troubled company, CMKM Diamonds, Inc., in several failed mining efforts. See, Buddy Up! - CMKM Diamonds, Inc.; U.S. Canadian Minerals, Inc.; Juina Mining Corp.; St. George Metals, Inc.; and United Carina Resources Corp. In June 2004, U.S. Canadian and CMKM joined forces with two other Canadian-based mining ventures to hunt for diamonds in Smeaton, Saskatchewan, Canadian. Despite early reports of “diamondiferous” discoveries, no meaningful findings were uncovered or reported. A series of subsequent mining ventures by the two companies appear to have been similarly unsuccessful.
Then, on July 18, 2004, CMKM revealed that U.S. Canadian would purchase 5% of CMKM’s mineral claims in exchange for 7.5 million shares of U.S. Canadian stock and had been granted a one year option to purchase an additional 10% share of the CMKM claims for $15 million. To date, there has been no indication that CMKM’s claims – most of which were subsequently transferred to another struggling mining company - have any intrinsic value.
Although U.S. Canadian had little cash - $1,321 as of June 30, 2004 - and no revenues, on July 27, 2004, CMKM announced that U.S. Canadian had paid $3 million to exercise the option. It later was revealed that U.S. Canadian raised the funds by selling shares to an unidentified individual affiliated with CMKM. On September 28, 2004, U.S. Canadian announced that it had paid an additional $2.5 million to exercise another portion of the CMKM option.
With the CMKM option in its pocket and a series of contemplated mining projects on its agenda, U.S. Canadian announced that it would address pressing financial concerns by swapping $9,005,355 of U.S. Canadian common stock for shares of Langley Park Investment Trust Plc, a newly-formed London, England-based investment company that had been formed to invest in United States micro cap companies. The number of Langley Park shares issuable to U.S. Canadian was slated to be reduced if the price of U.S. Canadian stock dropped over the following two years – which it has. The Company has not indicated whether it continues to retain any interest in Langley Park.
A “Wells Notice” invites the targeted company – in this case, U.S. Canadian – to submit papers to thee SEC staff before a complaint is filed in order to deflect and potentially avoid charges. U.S. Canadian has not indicated whether it will make any such submission.
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It isn't a bad idea, but I think it's one that'll be overtaken by technology within a few years. Soon we'll just be doing pay for play, on TV and on our computers.
lol, I'd say yes and no. All*n claims he heard about it in a deposition taken last Wednesday. He says he has "evidence", but of course it may only be hearsay.
But I think he really was present at the deposition, and that the topic did come up. He isn't creative enough to invent something like that.
My guess is that it was a self-fulfilling prophecy. Happens all the time.
next thing ya know they will be sending us a photo and a tragic story lol..
Maybe they'll ask us to contribute some gold nuggets.
LOLOLOL!!
And? I said I'd read all his recent posts.
I never said I saw settlement papers? I did say that my client was told by the TA that Urban and the Attorneys were discussing a settlement. That was the indicator that turned me from doubting side to convinced side.
I doubt he heard anything at all from Helen Bagley. Why would she even have been talking to him?
But it's possible that Urban was "discussing a settlement". That wouldn't surprise me, though obviously in this context the settlement would have been with the SEC.
All*n was posting like crazy for awhile there. He seemed...I don't know...somehow relieved. Even pumped. I increasingly believe that it was he who was being deposed. Perhaps whoever was deposing him had reason to believe he might know something about the Argentine casino.
lol, I just asked him about that over at RB. He probably won't answer, alas.
A valuable skill, for which Sandy has some very useful Tips.
No duh. We know All*n was present. But who was being deposed?
And who was All*n representing?
There's been some discussion of this today. Perhaps you should catch up with the posts.
LOLOL!! Few are aware the contol wielded over the Antarctic by the SEC. Don't tell, but I believe that's where they sent Harvey Pitt.
Omigod!! So to speak. I love the part about the "hypnotic state".
Gotta go to bed soon, but I shall Study this tomorrow.
Don't forget about their Antarctic territories.
Hey, that's pretty original! Do they include: "Thou shalt not steal"?
I think that the whole idea of the DoM makes them a bit skittish. They're not used to dealing with what seems to be fantasy.
lol, that sounds like a really sophisticated theology. Someone must have worked on it for a couple of hours at least.
Did you see that Spooky Billions story where they tried to connect her to the former CIA director headeding CMKX. Did you notice that HISC another purportedly DOM related company has ties to another CIA former head?
Oh yes. So often the marks do the scammers' work for them. In the case of the CMKXers, there seems to be nothing too idiotic for them to believe.
Oooooh, that reminds me!! Sandy's gonna be on "Next Food Network Star" tomorrow night at nine. She'll somehow be "coaching" the aspiring chefs.
I'm at a loss to imagine what they could possibly learn from her. How to open a can? How to buy an angelfood cake?
I think they must be natural. Otherwise, surely she'd have sued her plastic surgeon.
Should that happen, I'll be absolutely amazed.
In the LVEN revocation, the SEC merely said that the DoM "did not exist". I think that was taking the easy way out. They really should be more interested; my guess is that they don't have any idea how many penny stock scams the DoM has been involved in.
Back when it was announced that Dr Fred the Billionaire Podiatrist's DoM buddy Fernando Juan was about to take over as CEO of CHCL, someone put me in touch with an SEC agent in Salt Lake. We talked for about an hour, but he was, it seemed to me, incapable of taking in the DoM story. He was greatly relieved to hear that the company's Utah incorporation had lapsed. THAT he could act on.
CHCL was a Chinese company. They did, among other things, goats. Bulletproof goats, but that's another story. The Chinese government must have become aware that something was wrong; maybe it was the DoM involvement. Next thing we knew--this happened very quickly--the government had stepped in and got rid of management. One guy was scheduled for execution--the Chinese take financial peculation seriously--but we don't know if he ever did meet that firing squad.
Well, hey! Korem/Pedley was once married to Pearl. And maybe he still is.
hmmmm...now that I think of it, I might be able to get his phone number....
Sigh...you're not getting it. Everyone knows about Napoleon and his battles.
And if your hopes are dashed, and your Precious Pearl isn't mentioned, then what?
LOL!! How about throwing sunken treasure into the mix? That's always fun.
Here's some excitement! Today an online friend of mine attended a Walmart opening presided over by Sandy. Here's his report:
In a word... BORRR-ING.
All Sandra did the entire time was sign copies of one of her books. She was all mic-ed up and everything, but all you ever heard was her side of conversations with the people in line. I was able to kill some time in the coffee shop across the way (the store is rather upscale for a Walmart), but there really was no "presentation" to speak of. Items that could have been used for some sort of demonstration were still sitting there unused when I finally gave up after over an hour.
Her staff dutifully churned out samples of strawberry shortcake (hard to screw THAT up when you start with a store-bought cake), placing them on the far end of the table from Sandra, behind a bunch of boxes of decorative stuff stacked there for no apparent reason other than to make the samples unnecessarily difficult to reach.
After about 45 minutes they switched over to making smoothie samples with strawberries, bananas and orange juice (and sugar, I think). The concoction resembled Pepto-Bismol in appearance. Eventually, I opted to take the tablespoon-size sample medicine-style, throwing it as far back in my mouth as possible. The back of my tongue reported that I had made a good call on that one. It was really surprisingly sour for a drink with added sugar. And it had the seeds from the strawberries in it, which seems to me to be contrary to the concept of a "smoothie".
He adds that her boobs are slung unnaturally low.
On the contrary: after a year or so, he realized that he wasn't prepared to be an anchor and became a field journalist.
You lie like a rug, and you're arrogant enough to think everyone else here is stupid.
You couldn't be more wrong.
you may want to stick to roaming BB at ihub..
And you may want to stick to inchoate ramblings about the Battle of Austerlitz. You're marginally more likeable when no one has any idea what you're talking about.
you didnt have the talent to put a good segment together, and your segment was not worthy to be put on prime time.
You seem to have great difficulty reading for meaning. Check out my post again.
Im guessing you were fired immediately after your "pennie" segment b/c it was un-watchable.
"Fired"?? We weren't working for them. We weren't even gonna get paid. We weren't writing the script. We were merely contributing information. The SEC's John Reed Stark was involved as well. We didn't go to them; they came to us. They were gonna interview us, and probably use only a couple of minutes of that.
BUT we would have got to meet Peter Jennings, who was to be the host.
But all that doesn't tell us what Melchizedek is gonna do for poor Filipini.
Yes. Maybe that's some kind of laser hitting his forehead.
PAIM will be thought of by many investors because they've seen the prs lately...
Sure. PAIM "investors". But I'm afraid that 99.9% of all U.S. market participants have never heard of it, and never will. Unless somebody falls out of a helicopter.
Yeah, and she's caught onto the religious affinity thing pretty fast, too.
lol, the DoM is supposedly an "ecclesiastic sovreignty". What's their official religion?
LOLOLOL!! If you want someone who's worked on the DoM and Pearl presenting a segment about PAIM, you really don't understand the Law of Unintended Consequences.
Tell me something: so far, what have you been right about? Nothing I can see. You should think about that.
Back in 1998 and 1999 a couple of friends and I worked first with 20/20 and then NBC Dateline on shows about penny stock fraud. The producers and the writers were enthusiastic, but in the end, management was not. On one of these occasions--I forget which--we were days away from shooting when the show got cancelled.
It was replaced by one about defective electric blankets, which management felt was of greater interest.
Well, if he is, he won't admit it. He'll probably start yammering about "suppressed facts" or something.
Like the NSS companies themselves, they always have an excuse.
and thats what pearl has been cryin for a while.
Snicker, for about two weeks, to be more precise.
Yes. Occam's Razor doesn't play very well with the Get Shorty bunch.
I guess you missed the last time they did that. Or maybe it was 20/20. The Get Shorty bunch was expecting all kinds of drama.
Didn't happen. Very vague treatment that lasted about ten minutes and didn't get into specifics.
I suspect tomorrow's show will be much the same. And don't forget that they always present both sides.
are you gonna tell me that this segment will in no way help pearl and her struggle against the naked shorters?
Yes. Responsible TV networks don't do stories on Stinky Pinky gold mining stocks. And if they did, they'd also have done research that would have turned up Pearl's DoM connections, and then they wouldn't have touched it with a barge pole.
Either you're extremely naive or you just say anything that pops into your head.
Ain't gonna happen. As you'll soon see.