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This is Casavant Mining:
Name: CASAVANT INTERNATIONAL MINING CORPORATION
Type: Corporation
File Number: C1291-2003
State: NEVADA
Incorporated On: January 21, 2003
Status: Current list of officers on file
Corp Type: Regular
Resident Agent: BUSINESS WORKS INC (Accepted)
Address: 1603 MOWBRAY CT HENDERSON NV 89074
President: URBAN CASAVANT
Address: PO BOX 27740
LAS VEGAS NV 89109
Secretary: CAROLYN CASAVANT
Address: PO BOX 27740
LAS VEGAS NV 89109
Treasurer: EMMERSON KOCH
Address: PO BOX 27740
LAS VEGAS NV 89109
And this is CMKM Diamonds:
Name: CMKM DIAMONDS INC.
Type: Corporation
File Number: C9852-2002
State: NEVADA
Incorporated On: April 18, 2002
Status: Current list of officers on file
Corp Type: Regular
Resident Agent: LAW OFFICES OF THOMAS C. COOK, LTD. (Accepted)
Address: 4955 S. DURANGO SUITE 214
LAS VEGAS NV 89113
President: URBAN CASAVANT
Address: 1489 W WARM SPRINGS
HENDERSON NV 89014
Secretary: CORY KLASSEN
Address: 1489 WARM SPRINGS
HENDERSON NV 89014
Treasurer: CORY KLASSEN
Address: 1489 WARM SPRINGS
HENDERSON NV 89014
http://sos.state.nv.us/corpsrch.asp
Wonder who Cory Klassen is. Anyone know?
I agree.
I guess what I am saying is I am not convinced of the short position as touted and I am not convinced that the O/S is 0 or even less than 50 billion. For me, the O/S will be a very pivotal piece of information on how I proceed in this investment.
Note that not all of those claims are owned by CMKX. By far the greatest amount is the property of Casavant Mining.
Once again, for those that wish to see the extent and location of CMKX's claims, I provide the link.
http://casavantmining.com/images/17x11_Oct03.pdf
My point in asking the question is that there seems to be some confusion among posters (and Melvin as well) about the nature of the audit in question.
The only kind of "audit" a TA can do is a stock audit. Presumably that involves reviewing the transfer logs to make sure no mistake has been made.
A financial audit, which will be necessary if the company really does intend to relist on the OTCBB, is far more complicated and expensive. CMKX will be required not only to work up current financial statements, but will also have to file the Ks and Qs that have been missing since they stopped reporting. Yes, as part of it, the o/s will be revealed, along with much much more.
I'll give it a shot tomorrow. It'll take awhile for me to pull together the links.
What is meant by "audit of the company"?
Has Urbie been dumping recently? I don't know. Given the frenzy surrounding CMKX in recent weeks,even the craziest volume could be accounted for by swing trading and MMs exchanging inventory.
Remember: stock isn't sold only once.
The stock audit (if they ever actually do one) won't be "independent". It'll be done by the new TA, who's in the company's employ.
I simply said it is prudent to wait until the independent audit is complete before announcing so that those with an agenda to cast doubt cannot question its accuracy.
Confusion surrounds this issue. First the company said that the old TA would do the audit and then turn the books over to the new TA. Then someone called the old TA and was told they weren't doing any audit.
http://www.ragingbull.lycos.com/mboard/boards.cgi?board=CLB01219&read=26467
So what's really going on?
That's a good analysis, but we're missing a lot of critical information. First of all, we don't know at what price Urbie sold much of the stock in question. The a/s rose dramatically while CMKX was sitting at no bid x 0.0001. Anything he sold into the market (or sold to financiers) at that time would have been sold at a discount to market price. Possibly a very large discount.
So my guess is that Urbie hasn't raised anything close to $50 million.
Also: don't forget what they have to pay for the claims themselves and for the drilling permits and the like. I don't know what those costs are, but they do add up if we're really talking 1.4 million acres.
I do think it's a Bad Thing. This isn't a complicated question. In fact, it's quite simple: Urbie has issued X number of shares. What is that number?
You make it sound like the delay in releasing the O/S until after the audit is complete is a bad thing.
Frankly, I see the "audit" issue as a stall. Remember how the number was supposed to be available last week? Then this week? Now, according to Melvin, in "a few weeks"?
"Normal" companies give the TA permission to give the o/s figure to anyone who calls. Yes, TAs keep a running count. Urbie's turning all this into an unnecessary drama, and for some reason his shareholders don't object.
Nope.
Janice, did you buy any "just in case"?
Oh?
money came into the stock to absorb whaever deal was may to the financiers long time ago...
What about the money raised to pay for Urbie's racing hobby? How much more will he need to continue the exploration program.
Remember: CMKX has NO source of revenue other than the sale of stock.
Does anyone actually believe this nonsense? The author doesn't seem to have any grip at all on the enormity of the numbers he's throwing around:
IT DOES NOT MATTER HOW MANY O/S THEIR IS HERE IS WHY! again my
opinion! Urban walks in and shows the new attorney's his plan of the century
and says hey! I own 1.2 trillion shares, I plan on saying to the mm's
forget about O/S or authorized shares, wipe them out! I am retiring 500
billion right now! So guess what Mr MM'S we have zero shares! And
furthermore guess what I want to be paid for my other 700 billion shares and
all shareholders want paid for all of their billions of shares and we
don't even have to do an AUDIT, if we don't want to. Guess what mm's you
are screwed and time to settle up now! Hmm I guess I will go private or
maybe even merge with a little company called SHORE GOLD! PAY UP!!!!
* Now for why the price drop? Well simple combination manipulation,
covering as many shares as possible and a group of shareholders that
bought billions of shares and made a very nice swing and now are ready since
we have bottomed to load up again and should start oh I would say
tomorrow the 25th! Lets see on this one but it is coming!
* We know lots of news coming, we also know Melvin has been told to
keep it down! We also know Melvin told many to start looking at what they
want to buy and remember the eruption of Mt St Helens
* Also did everyone know someone bought 500 million shares yesterday
all at .0006 and if they did it right could have bought at .0005! Why
were they not concerned about saving themselves 50grand! hmmmmm
* Now for the rest of the story, I was very concerned about how in the
heck the market makers would ever pay out billions of dollars for all
these billions of naked short shares. This sounds crazy but with
combined mm power, reserves, worth, insurance, etc they can handle up to 127
TRILLION DOLLARS. So not an issue they may only need oh what 1 -3
trillion to pay us.
Of course.
Urban knows the O / S as we write. Like RIGHT NOW !!!!!
And I think that if the number were one he believed would please his shareholders, he'd have no problem releasing it immediately.
There're plenty of "indications". Thanks to the company, there isn't any hard information.
There is no indication that the O/S is 500B
As to the racing biz....
No one knows how all this HUGE expense is being financed including the dragster.
Melvin did say yesterday, when asked who was paying for all that: "The investors". Then he seemed to realize that perhaps he'd put it way too bluntly, and started backpedaling.
I don't know where this discussion started, or with whom...
i don't know of another source for time sales available to me for comparison. i am at a loss for anything logical to explain a reversal of volume at eod.
But is is possible that the person who "saw" this "reversed volume" merely saw the volume ticker flip over to negative on whatever quote service he was using?
Nor would I. That was my point.
wouldn't think that there should be any difficulty determining how many shares are supposed to be outstanding...
Oh, okay. That makes sense.
I think there is a SHORT position because you keep saying there is not.
What utter bs...
The T/A was gagged to through the MMs Off..
No. The ONLY entity authorized to issue shares is the company.
But isn't it the job of the transfer agent to keep track of every share? I'm not sure about that - just a question looking for an answer.
Wasn't it supposedly 95% on the ask?
Can you explain 95% on the bid yet the price doesn't increase?
Thing is, you don't really know which were buys and which were sells. Could be that a lot of the volume was "really" at 0.00046, if you follow.
If Red were a con artist, he most certainly would. And it'd be an excellent dinner, too.
If you knew you were going to lie to me..would you say...let's have dinner first?
You can't?
...but I also can't imagine someone blatantly lying to so many people...
Remember PCBM/SRCI?
Why do you think there's any short position at all? The high volume trading can easily be explained if the float's over 200 billion. Do you have any understanding of the magnitude of the figures we're talking about?
What does it matter if the OS is 100B if the float is only 10B and the SHORT 200B.
Question: theoretically speaking. (UC owns the O/S so in order to force the shorts to cover announces a cash dividend)
would the company need to have the cash on hand in order to legally release news of a dividend, even though the MM's would be the one paying it out?
I don't know if that's a legal requirement, but he'd be an absolute fool to annouce a cash dividend and an ex-dividend date if he couldn't afford to pay out.
Sheesh. All Urbie needs to do is to ungag the TA. D'you really think the TA would compromise his own reputation by lying about it?
You've probably read this old article, but if it's not already in the I-box, it should be:
http://www.kensington-resources.com/i/pdf/CdnBusiness_2002-09-30.pdf
You believe that after CMKM is relisted on another exchange - most likely the OTCBB - Mr. Glenn's services will be limited to find new financing for bulk samples and actual mining. Is that correct?
Yes, but of course that's just my guess.
I found a link to NYSE:JSH JANICE SHELL. Did you own a company at one point or is this coincidence? Currently that trading symbol is unknown.
lol, just a parody done years ago by a very gifted friend.
lol, sure.
Mr. Glenn stated in a previous PR, "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. The company has advised us that it is dedicated to complying fully with all requirements on it, and we are pleased to act as counsel to it on that basis."
I'm not sure that too much should be inferred from Glenn's supposed statement. At the time he "made" it, he was apparently still on vacation. There's nothing unusual about companies putting words in the mouth of an adviser, though I don't think it's a good policy. Frankly, I don't think Glenn himself would have alluded to any "problems" without specifying what they were. He goes on to say:
The company has advised us that it is dedicated to complying fully with all requirements on it, and we are pleased to act as counsel to it on that basis.
I take that to mean that the company intends to apply for relisting on the OTCBB, as it has clearly said. Currently it isn't subject to any filing "requirements", as it's a Pinkie.
Also if you have any "skeletons in the closet" regarding Edwards and Angell or Mr. Glenn, I would like to see that.
No skeletons.
Again, my only CMKM DD is reading all PRs published in the past 2 years, StockWatch articles, StockPatrol articles, corporate filings in Nevada, etc.
That's pretty much all that's out there. MTEI was easier to research because it was a reporting company, and so had left a significant paper trail. We Nasty Bashers (though most people hadn't yet begun to use the word back then) had three significant breaks:
1. Jack Uselton, the CEO, had presented himself as an experienced oil man, knowledgeable in all aspects of oil and gas drilling. As it turned out, he'd never really been anything but a roustabout. That, of course, was a major red flag.
2. We also had help from a guy who worked for the West Virgina Geological Survey, who was able to tell us quite a lot about the properties in question, and about the prospects for a successful strike.
3. After the company was hit with the SEC trading suspension, and subsequently closed its doors, Marc Tow (the "financier") was for some reason willing to talk to me and one other person. I can't imagine why; it certainly didn't do him any good.
I am speculating that Mr. Glenn would not have accepted a lowly Pink Sheet company unless they had hard evidence of CMKM's intrinsic value.
I'm not. Given that the only hard information CMKX has about the value of its claims comes from the initial results of the core drilling, Glenn has no idea what the company's intrinsic value is. As I've said before, I think he was hired for two reasons: to get the company relisted, and to find new financing for the next phase in the exploration program.
I am speculating that Mr. Glenn would not have accepted a lowly Pink Sheet company unless they had hard evidence of CMKM's intrinsic value.
Jag Media (JAGHV) has hired the famous (or notorious, depending on your point of view) John O'Quinn, who took part in one of the big tobacco suits. Several other companies alleging a Huge Naked Short position, and have also retained O'Quinn. Unfortunately things aren't going very well in court, and O'Quinn has now stated that he won't take any new cases of this kind.
So there appears to be a difference here: O'Quinn was hired to bring lawsuits; Glenn was apparently hired to get CMKX relisted. Note that Glenn isn't a litigator. My interpretation of this is that no legal action is anticipated, at least in the short term.
Oh, I almost forgot. Have you ever researched a Pink Sheet company, spent large amounts of time and energy posting on related message boards to steer people away from that Pink Sheet company, and discovered later that the Pink Sheet company was not a fraud?
I've never researched one that turned out to be a good investment over the long term, though some have been good trading vehicles. This isn't to say they were all frauds. Some were just run by total incompetents. Others existed solely to issue and sell stock; but that's not illegal. I don't ever call a company a "scam" unless that's been proven.
For Jag Media:
http://ragingbull.lycos.com/mboard/boards.cgi?board=JGMHA
For MTEI:
http://www.siliconinvestor.com/stocktalk/subject.gsp?subjectid=21501
For more on company lawsuits in general:
http://www.siliconinvestor.com/stocktalk/subject.gsp?subjectid=28509
lol, no. They'll only send you one for all your shares.
Can't be done...
EVERYONE call their brokers on Monday and tell them you would like to stop by and pick up you certificates Monday afternoon.
...unless you previously ordered your certs and deposited them with your broker. Otherwise you'll have to wait (sometimes quite a long time) while he orders them. That means he has to get DTC to send them back to the TA, who then has to reissue them in your name.
Oh yes, and it'll cost you about $40.
Really? Now THAT'S funny!
I just wanted to say what bothered me the most about Melvin and especially today is that he said you should do you DD before investing in any company. He then said if he buys one share of any company he wants to know all he can and the most important being the share structure.
LOL!! How open minded of you. But that's okay: we know you don't want to "discuss" anything with people who may disagree with you.
All, of course, with the exception of those that have a clear bashing agenda. Those messages get deleted promptly.
Yes, I did. It doesn't mean that short positions need to be closed within that time; only that the trades need to be settled.
No they didn't.
The SEC just came out with a ruling that requires legal short sales must be covered within 14 days.
Got it using another browser. Very flattering shorts. Too bad we can't zoom in....