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haha...
you just don't like how I brought up the fact that MMs are not legally allowed to make a profit on this stock. You think that jeopardizes your naked short theory or that ridiculous sh*t that Sterling posts and says.
READ THIS; if anyone is shorting this stock it most likely isn't the MMs. If anyone is naked shorting this stock it is most likely offshore hedgefunds. That's not to say the MMs aren't profiting off this stock in a surreptitious manner - I mean, look at the mutual fund scandals, Enron, Global Xing, Savings & Loan, stockgate etc. etc. etc. - but LEGALLY the MMs can't profit off this stock, as far as I know.
And a vested individual could be a private investor, a large trader who picked up ALOT at .0001, an offshore fund, or it could possibly be a promoter, the company, or Urban himself. NO ONE KNOWS...
BUT I'll say this for 50th time - I AM LONG THIS STOCK, just providing facts and trying to open the eyes of some of those naive enought to believe everything they read here... THINK FOR YOURSELVES PEOPLE
the mms have been covering since they shorted at .0012 and down to .0003 levels. their family of friends are all taken care of and they will make money again on the way up
As far as I know cmkx is a non qualifying piggyback and therefore can't be shorted or bought by the MMs for profit. That's not to say they aren't working for large hedge fund clients or certain 'vested' individuals though...
who is buying and who is selling these billions of shares
I wish I knew...if you beleive the O/S is 438 Billion than you would have no choice but to believe that alot of them were from the company, or granted to someone and now are being sold into the float... but who knows
Average trading volume around 3.5 billion a day.
be careful with these assumptions...on stocks like this there is alot of double/triple printing on the time & sales so you have to be very conservative with your average. The Market Makers trade in the 5 decimal, so when you place an order(in the 4th decimal)your broker's MM may buy shares off the ask at a price under the L2 ask(1 print) and then sell it to you in the 4th decimal(2nd print). Sometimes there is more than one middleman and you can see the same shares print a number of times.
But as for those big blocks going accross in 9 mil form which make up a large part of the volume, I'd say those are single prints and are being bought at the ask by a MM who is not flipping them to a client, hence the single print rounded to the fourth decimal.
So 132 billion shares held by longs
Don't forget about the multi-billion share days back when this was NO BID x .0001 and .0001 x .0002 - I'd say about %30 - 50 of those that were bought retail are still being held long; that's of course if you believe all the people to claim to be in from .0001
GOOD NEWS!
I'm glad to see we're ready to start drilling again....and on top of that we're right next to the Debeers/Shore Kimberlites where some impressive stones have been found as of late.
a new site located approximately 5 miles northwest of Kensington-DeBeers Kimberlite 122 and 6 1/2 miles northwest of Shore Gold Inc.'s Star Diamond Project in the Forte a La Corne, Saskatchewan.
That's interesting, being that there are no 78 year olds serving on the board of 3M...
Harvard MBA?
I find it hard to believe that someone educated at a top 5 business school doesn't understand that a dividend is calculated from the O/S and not the Float.
Personally, I attend NYU Business School with a co-major in finance & management. I am more than willing to prove it if you'd like...
looks interesting...
will watch and wait for volume to pick up
Outstanding Shares = Issued Shares - Treasury Stock
when a dividend is payed the company Debits Stockholders Equity and credits cash/assets. Now if a company were to pay a dividend on its treasury stock it would Debit then Credit Stockholders eqquity which would Net Net 0 and there would be no change...thats why treasury stock is not considered part of the O/S...Therefore the company is paying itself and for accounting purposes excludes treasury stock from the issued shares...that DOES NOT mean dividends are calculated by the float.
Float = Outstanding Shares - Restricted Shares
DIVIDENDS ARE PAYED TO THE O/S ... NOT THE FLOAT
If you try to argue that point again you are basically saying the float is 483 Billion as per Nasdaq...
Shareholders are receiving .0000155 UCAD shares for every CMKX share...
I'm saying the dividend is being payed to the O/S which means the O/S is 483 Billion
You're saying the dividend is being payed to the FLoat which would make the Float 483 Billion
Which would you prefer?
BTW...I'm out of posts for the day so I'll be posting on my alias(I'm sure even someone with your IQ can figure it out when they see it)
so you're argueing the float is 483 Billion, as per OTCBB's and pinksheet.com's dividend ratio of .0000155?
YOU ARE WRONG...dividends are calculated from the O/S. If Urban is doing something different he would have to make that clear. Sharesholders of record = outstanding shares
Even if an insider or the treasury owns the shares they still receive the dividend.
wanna...
dividends are calculated and distributed by the number of Outstanding shares a company has...
yesterday OTCBB.com told us the UCAD dividend ratio was .0000155 shares of UCAD for each CMKX share. That information was also posted by pinksheets.com today and confirmed through numerous email messages and phonecalls(I suggest you call OTCBB yourself if you're still uncertain) If you do the math that tells us our O/S is around 483 billion...
do with that what you will...
what's your point?
that I'm correct when I say a dividend is calculated by the Outstanding Shares and not the float?
a regular poet you are...
am I a basher?
And yes the O/S does matter, in fact it's quite important. The dividend is based on the O/S not the float, that's why the OTCBB site lists the dividend ratio, which you can then use to figure out the O/S.
<< OTC.bb board if a bunch of BS. Einstien couldn't figure this out until the float is know >>
OTCBB.com is run by nasdaq. BTW pinksheets.com has the same info - and both have confirmed that Roger Glenn sent them that info.
Well I'm not Einstein but here is the math:
dividen ratio = .0000155 shares of UCAD for every 1 of CMKX
so 7,500,000 / .0000155 = 483,870,967,741 shares outstanding
Yes that is true but...
we don't have any viable Kimberlite pipes and aren't drilling for new ones yet because of permit issues(that's the last I've heard)...
but we do have alot of land, and it does surround the DeBeers and Shore Kimberlite bodies which are said to be some of the most promising in the world. Plus Shore has been pulling quite a significant number of sizeable and colored stones out of the ground...
<< it could only get better if we have a weird share structure >>
That's what I'm hoping for...I think we need to see a float under 200 Billion IMO or we're in trouble
you need to learn how to read:
There is no disputing the fact that if the O/S is legitimately 483 Billion that Melvin lied to us"
OTCBB.com and pinksheets.com are nasdaq sites...every post of someone who has called or emailed to confirm was told the information was provided by Glenn.
I WILL CONCEDE that there is a chance those sites are wrong but why wouldn't they have changed the info yet. 2 days of deletorious information + high powered attorney = retraction of information
let's clear some things up;
I have always spoke my mind on this stock; whether it be good or bad. So, if you believe I'm 'bashing' when I post negative things about the company than you either haven't read some of my past posts or you're just too naive to think for yourself. There are always two sides of an investment, argument, whatever and alot of people on this board will only listen to the positive. I think everyone here needs to step back and embrace reality.
Too many people have been sucked up in the hype and 'get rich quick' mentality. I'm only in college but have been trading since I was 14 and if I've only learned one think insofar it would most definitely be there is no way 'to get rich quick'. Do you all honestly believe in this idea that Urban wants to make us all rich? Come on, there is one person who Urban wants to make rich, and thats himself. Not saying there isn't a chance for us to benefit as well, but don't beleive for a second that someone is trying to help you out. No one has ammassed great fortunes in the market by simply following the croud. They have all been able to observe, analyze, and execture investment decisions from all perspectives; incorporating both the good and the bad into their investment decisions.
If you don't believe OTCBB.com and PinkSheets.com that's your perogative and you have the right to your opinion. If you HONESTLY think someone forged a letter from Roger Glenn or that OTCBB is inbed with some vast market maker conspiracy than all the luck to you in your future investments, for you surely will need it. If that information on those sites were false, it would have been removed immediately. Melvin probably received 100+ phonecalls and I'm sure the message was relayed to UC and Glenn. As far as I can tell, that O/S is correct and Urban Casavant has quite a bit of explaining to do. I hope he does so with a PR within the next few days...if not for any other reason than to put the shareholders at ease and give them some closure on the situation.
There is no disputing the fact that if the O/S is legitimately 483 Billion that Melvin lied to us... HE SAID ON NATIONAL RADIO THE O/S WAS NOWHERE NEAR 400 BILLION. And even if you can't technically prove that he lied this whole thing must make you question the integrity of UC and the rest of the CMKX team... up until recently there was every indication by 'those in the know' that CMKX was retiring shares and the O/S was going to be lowered than expected. This unfortunately is untrue(according to NASDAQ) and puts some serious doubts in my mind about what is going on.
This is a pinksheet...its an all or nothing play...I'm LONG this stock because it is one of the best risk/reward plays I have ever seen. I sincerely hope that everyone invested in this company is well rewarded and this is in fact the stock play of a lifetime but just remember the old saying "if its too good to be true, it probably is..."
I called you a moron because you are blatantly ignoring facts critical to your investment.
I am defensive because you are attacking my presentation of the facts. The O/S is a fact, its on two different nasdaq run sites, and has been confirmed...
<< Maybe CMKX OS was so high that 75 billion shares would have put it over the legal limit and thus, UC had to use his 40 billion and only tax the OS by 35 billion. Could this be an explanation of why UC made this move?? >>
that seems quite plausible...
<< That's about all that can be done with that kind of O/S. So, why a lawyer the caliber of Glenn? Why not some small time, cheap lawyer? >>
Still makes me believe 'something' is gonna happen here...even with an O/S that's almost half a trillion...lol
You're forgetting that Debeers has the best Kimberlite bodies in the Fort La Corne area...
but we are right next to Debeers and Shore Gold, and they just had a pretty impressive find... the diamonds are there but the question is - are they economically viable? Debeers might not think so, simply because their African mines are producing an adequate supply. Remember, Debeers does not want more diamonds on the market, they are a cartell and thus their controll of aggregate diamond supply is imperative to their price fixing activities...
yes it would...that's why i said I wasn't going to really say what I think about Urban and what's going on here until I know the share structure...
If the float is low then it wouldn't be too bad...but nonetheless this is all somewhat disconscerting
Ok than - let me explain:
<< 1. Melvin, the company's IR man, publicly LIED to us all and should be fired immediately >>
- After global released the 400 Bil # Melvin went on national radio and said the number was no where near that. When asked on PalTak, a public forum which I was listening to at the time, he denied the O/S was that high as well. I beleive someone has a recording of what he said on the radio - you really need to listen to it.
<< 2. Shareholders have been in the dark for too long... and the reason seems to be quite obvious now >>
Not knowing the O/S for a year isn't being kept in the dark?
<< 3. There most likely is no Naked Short position >>
With 483 Bil O/S daily volume would be about 1% of the O/S, which is a number that is lower than what most large caps trade. Even if the float is around 200 - 300 billion that would explain the overwhelming supply of shares out there and the lack of price movement.
<< 4. JEFF is either dumping shares for Urban, another 'promoter', or the company itself >>
JEFF, IMO, has sold atleast 50 billion shares, probably more like 100 billion + . There are only 3 people with that number of shares. 1) Urban 2) CMKX treasury 3) a stock promoter who was granted these shares or purchased them @ .0001 and is now dumping them.
<< 5. So far, Janice and the like have been quite accurate, and deserve credit for the information and research they have provided. You may not like them personally, but I'm glad they're here. >>
Almost every piece of evidence she has provided has been accurate. For months she's been saying the O/S was maxed and it now appears that she was correct. I think she deserves credit for that.
<< 6. Roger Glenn did infact take on a company with an O/S of 483 Billion >>
Well, if you can't figure this out than I don't know what to tell you.
So the O/S appears to be 483,000,000,000 as per OTCBB.com and pinksheets.com and was confirmed in an email from a Nasdaq rep....
Before I start, I would just like everyone to know that I am still long CMKX, and probably will never sell (to sell for .0003 would be idiotic) BUT...
This news is extremely dissapointing and troublesome...the only way I would concede that this isn't horrible is if the tradable float is extremely low and the majority of those 483 Billion are restricted or held as treasury stock to prevent a hostile. But I'm beginning to get the feeling that alot of those shares are in the publics hands and there has been massive dilution.
I was going to express my disappointment with management about this but I feel its better to what for a PR explaining the share structure... I would be remiss If I were to rant and rave about the dishonesty and duplicity behind all this and then have it turn out that 242 Billion of those shares are in the treasury, 75 Billion are held restricted by Nevada Minerals, and 100 billion are held by insiders.
As it stands we need to make a few things clear:
1. Melvin, the company's IR man, publicly LIED to us all and should be fired immediately
2. Shareholders have been in the dark for too long... and the reason seems to be quite obvious now
3. There most likely is no Naked Short position
4. JEFF is either dumping shares for Urban, another 'promoter', or the company itself
5. So far, Janice and the like have been quite accurate, and deserve credit for the information and research they have provided. You may not like them personally, but I'm glad they're here.
6. Roger Glenn did infact take on a company with an O/S of 483 Billion.
So, where does this leave us? It leaves us waiting for a PR that explains the share structure. Once that arrives we will be able to see just what Urban has done here. Until that point I will restrain myself from fruther critique so as not to embarass myself if this share structure turns out to be not as bad.
But for now I'm a little pissed, and you should be too...
not ignoring, just waiting for the compay to state it...
I want to see Urban's or Roger's name on a PR or a SEC Filing stating that number... if that doesn't happen ill have to wait for the dividend to figure it out.
What if I sell and OTCBB is wrong, or the O/S is right and 250 Billion are held in the treasury, 75 billion held restricted for 1 year by Nevada, and Urban/Insiders holding 50 Billion or so, leavig the tradable float around 100 billion...with that float I think a NS position would seem quite plausable...who knows, its a gamble with a good risk/reward ratio...What does it really matter? its not like I'm going to sell at .0003 - I'd would rather just take the loss and learn a lesson
MMs loading up on shares of VIGN @ the bid of 1.35
A wall @ 1.36 and a few MMs on the bid. They have been there since 11:30 and have probably absorbed about 200k shares...
looks like they are building an inventory for a run...IMO
In @ 1.34 w/ a stop/loss @ 1.31
If the O/S is 400 Billion + he screwed us; no definition needed.
whether it be illegal, misleading, sureptitious, or subvert his actions and implications made shareholders beleive one thing and he infact did another. I don't care about the legality, it doesn't matter, what matters is the level of trust between corporate management and shareholders.
As of now I will give the benefit of the doubt to the company. For now I just have to believe what's in front of me, until something changes.
OTCBB say 483 Bil
The company has 'implied' its nowhere near that.
If they're full of sh*t than so beit. I'm perfectly fine losing my investment; anyone buying here should be playing it all or nothing.
Either UC is playing us or he is not...for me, only time will tell.
huh...
venture capital and toxic paper are two different things...
venture capital is a tool for upstarts with potential, toxic paper is a way to further dilute and reappropriate shareholder value to warrant holders who are not in it for the company to succeed...
Venture capital is usually in the form of cash infusions for restricted shares or Preferred shares with special voting rights. Venture capital is a multi-billion dollar industry that is crucial in the upstart and developement of small business' in a jungle of capital restraints...
Venture Capital is a good thing. Toxic paper is a bad thing.
<< Lawyers by definition deal with criminals on a daily basis!! >
You're only partially correct...Criminal lawyers deal with criminals everyday... Securities law has to do with corporate governance, M & A, underwriting debt & equity financing, SEC reporting etc etc.
WHEN ARE YOU GOING TO REALIZE that Glenn is not a criminal defense lawyer:
Urban Casavant, announced today that the company has begun working actively with D. Roger Glenn of Edwards & Angell, which it earlier retained, in connection with securities and corporate issues faced by the company
Glenn stated, "We have been retained by the company to resolve the problems it has been facing, and we expect to devote significant efforts immediately toward that goal.
D. Roger Glenn, CMKM's counsel, stated, "I will be traveling to Saskatchewan with the company's management to expand my knowledge of the company and its business in order to facilitate the company becoming fully reporting."
<< And if this deal works out well for the company, but not for the shareholders, you think Roger's reputation will be hurt?? >>
Yes I do. Urban Casavant stated in Las Vegas today that, "hiring Edwards & Angell, LLP, and specifically Mr. Glenn, is the best thing that we could have done for the company and the shareholders.
If there are 400 Bil O/S there is no company, it was simply a printing press...
<< On the contrary, every penny stock CEO in the world will be after him. >>
You're right, look at his resume...he's really going after those penny stock clients...LOL
I'm sure his firm would love the reputation of being good at scamming investors. If the O/S is 400 Bllion something very shady went on, something a former SEC enforcement agent with over 20 years of experience could spot with his eyes closed. Thus if there are 400 Billion O/S Gleen is in fact complicit..
<< Making money through venture capitalism? >>
A corporate printing press is not venture capitalism. Definition: An investment in a start-up business that is perceived to have excellent growth prospects but does not have access to capital markets. I would say the stock market is a pretty big capital market...wouldn't you?
<< Since when is that illegal? >>
When you say your retiring shares PUBLICLY and then do the exact opposite there is a problem. It may not technically be illegal, but certainly is dishonest, and would be deletorious to Glenn's reputation.
<< What does Roger have to do with the O/S? He's never stated what it was! >>
He is securities counsil for the company...I think he would have an idea of what the O/S is
<< I really think people here have a poor grasp on the business world. >>
Out of curiousity, what do you do for a living and what school did you receive your MBA from?
TIA
<< because even IF the O/S is 400B, there are other factors that make cmkx worth accepting as a client. >>
I disagree, I see the O/S as a credibility issue, one that is fundamental to the future of this company. IF the O/S is high Urban screwed us, you have to admit that. When we last reported we had 40 billion O/S, he put out press releases stating shares were being retired, and the IR guy for the company stated PUBLICLY the O/S wasn't that high.
The only other factor here could be a massive diamond find. Not to be cynical, but I don't see the 1 drill and 1.4 million acres with no permits and Ron Casavant running the show as foreboding of a major diamond find...
But, I hope I'm wrong...
what companies has he helped issue toxic paper for?
when its used to purposely dilute a companys stock, drive the price down with the intention of driving a company out of business it is....
when its used to 'make a market' it is not, but please define 'making a market' for me because both the SEC and NASD seem to have alot of trouble doing that.
WHAT ARE YOU TALKING ABOUT
Lawyers work for money. To enter the upper strata of securities law, and make alot of money, you need a good education and a good reputation. You don't gain that reputation by being part of a pink sheet printing press...
The partners at E & A would never let that fly...
<< What the heck does the O/S have to do with the legal counsel you hire? >>
The O/S is everything. If its high than Urban screwed us and Glenn is by default complicit. If its low than Glenn makes history and we all become very rich.
Why would Glenn take on this case? so he could add this to the resume:
CMKX Diamonds; found no diamonds, issued over 400 billion shares, royally screwed investors, and made me and my firm look like idiots
Well when you sell a stock that isn't backed by a cert, it is in fact a counterfeit...
the same as printing currency...a dollar bill is no different that a stock cert. Both are proxy of some type of Asset...when someone fails to back a particular debenture with an ASSET(i.e stock cert) it is considered counterfeiting...
TSX,
you think Roger would still be with this company if the O/S was 483 Bil ? He's been here for two months, even has his name and his firm's name on the PRs
Look at his clients...see any pinks? see any stock scams? see any massive dilution and investor deception?
NOOO...what I see is Fortune 1000 companies and Billion dollar deals
<< Do you believe in hedge funds facilitating naked shorting? >>
Most Market Makers don't Naked Short for profit, they make enough by playing the spread and trading around order flow...
The majority of illegal shorting comes from large offshore hedgefund clients, whose broker/dealers conveniently turn their head and hide when it comes time to make the affirmative detirminations of the availability of stock to borrow. The MMs simply take shares that these hedge funds 'counterfeit' and sell them as real...
If anyone is illegally shorting this stock I think it's safe to assume its NOT the Market Makers...
you're missing the point...
Roger has over 20 years of experience in securities law. He has handled numerous IPOs and other public offerings, PIPE transactions, exchange and hostile and friendly tender offers, mergers and acquisitions involving public and private companies, private placements, Rule 144A sales, Rule 10b5-1 plans and all filings and reports required by the Securities Exchange Act of 1934.
If anyone could spot a stock scam, I'm sure this man could. I mean he only works as counsil for the company
-or-
he's complicit in securities fraud...anyone gonna make that claim yet???
He knew what he got into before he got into it...
From his Bio - "He began his legal career with the Securities and Exchange Commission, where he conducted investigations for the enforcement division."
I'm sure he's fairly confident with what's going on. Enough to have his name, and his firm's name, on the press releases... I mean if anyone could spot a scam here I'm sure it would be the securities lawyer, with an SEC background, that is working closely with the company's management.
Unless of course you think he's complicit in securities fraud? Because that would be a bold statement to make...
Which one stands out the most?
<< Glenn understood that CMKX wanted to relist on the OTCBB, and agreed to help. >>
Roger was involved in the $600
million acquisition by a major
telecom company of corporations and
limited liability companies holding
FCC licenses.
• Roger represented another major
telecom company in a cash tender
offer and the $450 million
outstanding high-yield debt of an
acquisition target pursuant to a
change-of-control indenture
provision.
• He was instrumental in the
acquisition of an Austrian wireless
telecom company with $1 billion of
assets.
• Roger handled the successful takeover
of an insurance company by hostile
tender offer.
• Roger represented a telecom company
in the issuance of $200 million in
Senior Notes in a PIPE transaction.
<< I think one thing's certain, though: we'll never find out why he was willing to represent CMKX. >>
I disagree...I think the weeks to come will explain alot; whether that be good or bad.