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I've read it many many times. Funniest thing, nobody can locate the original.
Cellar Boxing....the article in its' entirety is below. It's lengthy but interesting.
It's pure fantasy. In real life, it wouldn't work. If you feel like it, go way back on the RB MMManip and Jag Media threads for analyses by people who ran the theory through their calculators and proved that it wouldn't work.
I think I know who the author is, but can't prove it.
That's what the o/s is: shares outstanding and issued, as opposed to shares authorized (a/s). What you're thinking of is the float, which may be lower than the o/s if the o/s contains restricted shares.
In my opinion, its not the o/s we are looking for here. Its the issued shares.
LOLOL!!
the poster here is trying to kill the momentum of this stock, oviously by appealing to our desire to know very complicated convoulted stock terminology.
You got me. As I said earlier, in Glenn's place I'd quit after today's nonsense, on top of all the other nonsense of the last couple of weeks.
So, please tell me if UC's dumping, why is the big lawyer present?
So don't kill the messenger.
Janice, your track record up til now has been impecable. Everything you touched went to hell.
Then you're in BIG trouble.
The masses are usually wrong.
Quite right. I really enjoy it. Like playing tennis with a dozen opponents.
This board would be no fun at all without Janice. Gotta have two sides for a healthy debate. I like it.
Nah, I'm just aghast on principle. I'm always aghast when companies refuse to divulge their o/s. I've never seen the eventual revelation turn out to be a Happy Surprise.
I suspect your are aghast they won't release the numbers without an audit because it robs you of the opportunity to question the validity of the numbers if they are very good.
Actually, Joy, it's just an old joke, dating back to 1997 or 1998. If I were you, I wouldn't consider psychology as a career.
You actually do this? Snicker that is.
I don't think I've ever talked about MMs having to close their books monthly, though many people DO talk about that. In reality, they don't have to.
You often speak of MM's closing the month-end books. I can't imagine that would be required to close up all their short positions at month-end, because imbalances would be a natural result of any traders daily activity. Do they have limits in either dollars or percentages in how large the shorts can be? Or just a time frame in which to clean them up?
As you say, it would cause imbalances. They don't have to close short positions for any reason, as long as they've shorted in order to provide market liquidity. That said, they're well aware how volatile penny stocks can be, and most have NO wish to be caught short OR long for any length of time. Most adjust their positions at the end of the day; some close them entirely at the end of the day or the end of the week.
Dumping is selling. And if UC's currently doing that, he's probably doing it somewhere between bid and ask. Even so, it would put some pressure on the stock. So if that's what's happening, the MMs handling his orders are doing well to keep the price stable.
and most trades reflect transactions at the asking price... so, if UC were dumping shares, then why not let the price rise...so he could dump at higher prices??
What reason for UC to prevent up movement?
I've seen this happen before: with IFTA, for example. Since it was a reporting company, we could pretty much tell when management were exercising their options and selling them into the market. While this went on, the price stayed steady. When they stopped selling, oddly enough, it went into the toilet. Then it'd slowly rise on hype and they'd do it all over again.
Maybe I should. They're very well-run.
You and the Rocket man could apply for jobs at the Martha Stewart companies.
Edit: substitute "KoolAid" for "water"...
Janice, you can lead a horse to water but you can't make her drink!
Most people don't. Until it's too late. Whether you chose to listen or not is entirely your decision.
No one wil listen to her.
What IS the man smoking? I want some...
Did I read Sterling correctly this morning? He said the co is worth over TWO TRILLION DOLLARS! That's $2,000,000,000,000.00 And valued the land at $850 bil based on 1 mil per acre over 1.5 million total acres of rural land use. Huh?
Have you ever traded anything that wasn't a Pinkie? You know: reporting companies? Maybe even Nasdaq SCM or NM?
that this is simply your opinion. Please point out a link or some kind of tangible timetable that states that this is exactly how things must be. An audit is being completed and the O/S will be released. Why can't you realize that it is only you who are outraged by this?
If I'm the only one who's outraged that Urbie gagged the TA, then I'm afraid a rather large number of people out there have fallen into a state of mass hypnosis.
I wonder why Klassen's involved at all, then, unless it's just for putting his name on papers.
Any of these damage control posters remind you of anyone from the past ?
Some ARE people from the past, not just people who remind me of them. Not so many here at IHub, but RB's full of 'em.
Let me put it this way: we need the kind of regulations Canada has for its own version of the Pinks. We need for ALL public companies to be required to file with the SEC quarterly, or lose their registration.
Janice, where does it state what the timeframe is for a CEO to put out a PR? You make it sound like a set rule.
Now if CMKX were a reporting company, yes, there would be "time frames" for releasing material information. Check the rules concerning the release of material information and events in the Form 8-K.
Glenn does not run the company. That would be a major conflict of interest.
UC and Roger do now.
I read it. Makes no sense whatsoever. The TA can count ONLY stock that's been issued.
It would help your intelligence to read the post from Ragingbull I just posted.
It is indeed. But you guys don't seem to want me or anyone else to share it with you.
Janice, isn't this your specialty?
Funny. When I invest in a company--unless it's just a technical play--I want to know everything I can find out about it.
You guys seem to want to know as little as possible, because that allows you to indulge your fantasies to the limit.
It has nothing to do with me. It has to do with material information and material events that any responsible company makes available to shareholders and potential shareholders on an ongoing basis. CMKX chose to stop reporting to the SEC.
Why?
And this is because you say it's time?
I was wrong, or put it badly: it isn't "time"; it's "long past time".
It's conventional for honest CEOs to believe they have a responsibility to their shareholders and to the public in general.
Janice, why does UC owe anything.
LOL!!
Wait till Sterling flips sides then What happens?
hmmmm....Sterling's been pushing a "trillion share short" for quite awhile. Could it be that he's known for some time that the o/s is so large that in order to validate his theories the short MUST be a trillion shares?
Note to the gullible: I am NOT saying there's a trillion share short. I'm saying there's a very large o/s, and no short at all. My opinion only, of course.
As far as we know, there isn't any preferred, so in order to keep control of the company, Urbie and his family (and perhaps his financial backers Koch and Klassen) need to own at least 51% of the o/s.
janice where could the 400 billion o/s shares be if that figure is true, eg, put out and folks here bought them is one...but what are the other ones?
3 July is Saturday.
Maybe UC is waiting till the close on 7/3... then the fireworks can begin on 7/4... how patriotic...
How do I know all this is being handled badly? Today's Laurel and Hardy act is all the proof anyone should need.
CMKX was always a joke to me. But it's running the risk of becoming a joke on a much larger scale.
Janice, how do you know?
I think everyone should be asking for proof now. This farce has gone on far too long as it is. Urbie owes the public a clear statement. NOT just more excuses from Melvin.
Janice, you constantly are asking for proof.
Urbie knows how many shares he issued. Both TA know how many shares he issued.
Time for another of those midnight PRs.
That's for sure.
It's a buffoon show.
Interesting. Until today, Joel was second only to St Sterling in the estimation of the Stepford bunch. Now what? Do they consider him a turncoat? A mole? Or was he just telling the truth?
And gumpy: if it does happen that the o/s is 400 billion, d'you really think there's a Huge Naked Short Position? Like....a trillion shares, snicker?
You never liked Melvie, either.
I never did like Joel.
I think Joel's as full of bs as anyone in this story, but he sounded pretty convincing when he said he'd called the TA back to be sure he got it right.
One thing is certainly clear: the company is handling the whole thing very badly. They need to get that number out NOW.
Listened to Melvie at the yazzi site. Sooooo, disagreement between Joel and Melvin, eh? Has Melvin actually spoken to the TA? Did Joel call back? Any other corroboration of either story? Joel mentioned something about "Audrey" callling.
What a godawful mess. Why hasn't Glenn quit?
How odd. Listened to the first two, but got a "locked" message for Melvin's call.
What did he say?
So what the word, Gumpy? 400 billion o/s? Think there's any short at all, lol?
Too funny!! While I wouldn't necessarily take Joel's word for it, that sounds about right to me.
Joel is on IBC saying he called the transfer agent and was told there are 400 billion O/S shares
I really do wonder if Mr Lobster's still "consulting" for them.
It's like they hired PCBM's managers to give them ideas. LOL
lol, they did two years ago. I have some stuff on CDs, too.
do they still SELL Zip discs?
Even funnier: CMKX's new PR:
http://biz.yahoo.com/bw/040629/296053_1.html
So far, you've missed just about everything. All the red flags.
did I miss something...
Bizwire and the Evil Naked Shorts. Yup.