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I don't think a firm of his caliber would accept stock. So Urbie has to find the money elsewhere.
What? I thought the New York Times article on PIPEs was quite balanced, though it didn't address the question of what usually happens when this kind of financing is used for penny and subpenny stocks.
Guess you don't have a Pacer subscription, though I'm sure you know perfectly well that the "basher" suits in question were dismissed, and that the companies in question were nailed bigtime by the SEC.
lol, d'you think anyone would believe it was for real?
Why are you so overwrought? Geez...
Hey, lance, I look at what interests me. In the past I've been criticized for NOT investigating stocks BEFORE they ran to dollars.
Damned if I do, damned if I don't, I guess.
My my, such vitriol. But never mind...
Why has she not yet addressed the question of why a wee little pink sheet company is spending the big bucks to hire someone like Edwards Angell to do their filing?
I believe I did address that. As you've said, any experienced securities attorney can help a company apply for relisting on the OTCBB. Why go to someone like Glenn? I don't have the answer, but I do have a question: where's Urbie getting the money for all this? Far as I know, CMKX has no source of revenue other than stock sales.
As for Stock Patrol, I'm sure you're aware that they have an excellent track record.
Not yet. It's the logical next step.
Speaking of DD, have you (or others) looked into the partners in this little venture?
I've seen it done, but never when the company in question had good news to communicate. I think it's possible the timing of the release was just a mistake. When you submit a press release, you're supposed to specify when you want it to hit the wires. They offer one-hour slots: 8:30 a.m.-9:30 a.m., for example; you need to put in the date as well. If you forget to do that, I imagine it would go out right away.
This has got to be the first time I have ever seen a company do a news release after 11:00 PM on a Friday night.
lol, yes. I have a list of about fifty words and phrases Pugs screws up.
Some people spell the same word wrong over and over.
btw, where's Urbie getting the money for all this? I see no source of revenue for him except the sale of stock.
To me it looks like UC is about to play some heavy cards.
It'd also be interesting to know who's behind this gigantic promotion.
Well, nobody is. So much for that.
I would be shaking in my boots if I was short on CMKX right now.
lol, they sound like conjoined triplets...
And the original story tying Palm to FIBG below. Actually, this one makes Acs sound more like Dallas - would be writer, son of eastern European immigrants, name changes ...
PIPES, eh?
He has represented issuers, underwriters, and placement agents in public and private offerings of debt and equity securities, including initial and follow-on public offerings of equity, Rule 144A offerings of private securities followed by registered exchange offers for free-trading securities and PIPES offerings.
Not really. They said they were hiring a law firm, and they did so.
Janice, any comments or thoughts on this latest PR?
Shore Gold is exploring a large kimberlite body in Saskatchewan with a footprint suggesting potential for about 500 million tonnes. Initial micro diamond and mini bulk sample results suggest a complex body with an overall low grade possibly in the 0.1-0.2 ct/t range. Nothing is yet known about carat value potential. If the tonnage and grade range hold up, an average carat value of only $40 per carat would be needed for this target to represent 5 million ounce plus gold equivalence. Because this project is already at the bulk sampling stage it reasonable to view it as a world class target
Property Portfolio Size
Although Shore Gold has some gold properties in Saskatchewan, these are irrelevant because they are dwarfed by the flagship Star diamond play. Shore Gold is a one shot exploration play; either the Star kimberlite is a major success or it is a bust. By the time the bulk sample is done it will have cost $10-20 million. Shore Gold is a classic high stakes roll of the dice in the junior exploration game. The situation is different next door where the FALC JV of Kensington and De Beers covers most of the Fort a la Corne kimberlite field which contains numerous bodies representing billions of tonnes of kimberlite with varying diamond content. Establishing the feasibility of large tonnage low grade and complex diamond deposits is expensive and time consuming. Prioritization is thus critical, and tricky if the understanding of the geology and deposition model is an evolving process, as it has been at Fort a la Corne during the past decade. For Shore Gold the task is simple: make or break the Star kimberlite.
http://www.kaiserbottomfish.com/s/CompanyProfile.asp?ReportID=59447
Gotta wonder what Urbie's idea of a "large firm" is, also. Would they say they'd engaged a "small firm"? Can't wait till they announce it.
Does this new poster's style sound familiar to anyone else?
http://www.investorshub.com/boards/read_msg.asp?message_id=3254314
See his earlier post as well. I'm thinking....nuoc mam.
No.
Is it legal for a company like cmkx for example to hire someone umm lets say someone like Janice to bash just a liittle bit so they can buy back their stocks at a low price and save big when it comes time for a tender offer?
lol, not really. I used to be too daring for my own good. Now I'm not, so I'd have sold at a double.
But isn't it frustrating for you
to watch a QBID run like that and be on the sidelines?
Um, they only said it was "large", not "top tier".
The fact that they are suddenly stepping up to the plate and bringing in a top tier NY securities law firm (assuming this proves to be true) means that something very serious is on the table that requires this level of precision and integrity.
Chill. I was asked a question and I answered it.
In the long term, yes. You know what they say: If it sounds too good to be true, it probably is.
Anyway, do you really think this stock is a no winner? Really?
That doesn't mean it can't be a short-term winner. But I think one should go into these ventures eyes wide open. And it doesn't hurt to learn how to do research.
Wait. I take back what I said about INOV. After the first r/s it crashed bigtime. Then as some people saw a "bargain", it recovered a little, maybe for a week or two. I can't remember exactly how much. It was possible for the agile to scalp a few points and make a three-bagger; unfortunately hardly anyone--on the RB board, at least--did that.
Also remember that Urbie and his buddy Randy Studer, who plays a significant role in the CMKX story, took Petro Plus through three name changes and three reverse splits.
In the Example of INOV, did it run like this one has this week?
No. INOV used to be BMII, which did a 1:5000 r/s after they'd issued about 20 billion shares. BMII had a few small runs early on, but I don't think anyone (in this case, not even the odious CEO Blaggy) made big money. After the two splits, it went nowhere but down.
I was scared of a reverse split ealry on, but is that really a likely event now?
Yes. Even the most "conservative" here believe there are billions of shares outstanding. If Urbie wants to be taken seriously by financiers who don't want to do PIPES, he's gotta prune the o/s way back.
I think I don't take a chance because for every QBID I've seen a hundred that tanked to nothing. Recently quite a few people bought INOV at 0.0001. "It can't go any lower!", they crowed. Well, it did a nice fat reverse split, and then lost another 80%.
lol, I know the one I'd finally choose would be one of the bigtime losers.
That's true, though the recent Big Board scandals are far rarer events than failed penny stocks. And even when they do fail, the investor has a chance of recouping something, if he's patient. Healthsouth is a good example. The difference is that real companies with real business and real revenues are unlikely to disappear altogether, which can't be said of pennies.
Hey, it's hard to get rich, period. As I said before, if it were easy, we'd all be on our yachts off the coast of Mexico right now.
But how many?
BTW fundamentalist know full well that folks have become wealthy on many a garbage stock..
Usually the people who become wealthy on garbage stocks are the insiders. If it were easy to become a pennystock millionaire, there'd be a lot more of them.
Thanks, Dwaine. No, I don't own any CMKX. If I'd had a crystal ball, maybe I'd have taken a flyer at 0.0001, but probably not. I haven't played pennies since about 1996. If I did own it, yes, I'd treat it like a lottery ticket.
I do follow them, though, because often the stories are so entertaining.
trader15 asked for examples of certain behaviors. I obliged. You really should read that stuff; it's hilarious.
lol, I'm sure YOU wouldn't do any of those things. Neither would I. But I've seen a lotta penny ceos do a lotta very dumb things.
Start with Mad Mikey Sylver of AZNT. He made all kinds of crazy promises and claims. And he'll very likely end up in jail for doing so.
Ditto for Ira Monas. Forget the name of his company, but whadda whackjob. He may be outta slam by now.
Then there's Tom Hughes of ECNC/T/I. The stock was halted once, and the company sued, for releasing "misleading" PRs. Incredibly, Hughes did it again. That time he went to jail.
More currently, we have Richard Altomare (aka Captain Fluffy) of USXP. He's another one who claims his stock has a Huge Short Position. He's suing the SEC for "harassing" him, by which he means the SEC asked him to prove that claim. The SEC got sick and tired of him, and has brought its own suit, charging Altomare with 118 counts of fraud.
Then there was Dan (Fatboy) Hoyng of IFTA. He used to brag about flying on Mark Valentine's private jet, and tried to impress shareholders with his high-roller gambling. He's now bankrupt and has several judgments against him.
I could go on practically forever.
MVEE/MEMI had an unlimited a/s. CMKX's is the second largest I've ever heard of. I think you can still go for "unlimited" in Nevada, though I haven't checked.
What is the maximum A/S that a company can have (specificly CMKM)?
Why on earth would Urbie cover anyone's short position?
And if Urbie hasn't issued "a gazillion shares" as you say, but has instead bought "a gazillion NAKED SHORT shares" instead?
Since we don't know whether there actually is an investigation or not, we can't make guesses about when one might have started, can we?
I have a piece of banded feldspar. Very pretty.
I don't think Urbie can afford to buy back. He needs money for operations. Why issue a gazillion shares and then buy them back at a higher price?
Do you have any clue what all those 9 million block trades were that went on for weeks?
retirement?
Yes.
Could you possibly give me a example of a prestigious law firm who have worked as promoters for a penny company ?
Bondy and Schloss, who did all kinds of "work" for IFTA. I can't give you a link because RB has destroyed their own archives. HIVV used several law firms in the New York area; at least one of the attorneys in question got in considerable trouble.
Do you truly believe that the SEC is investigating CMKX...
I have no idea. I do believe that the last few days' incredible volume may have set off alarm bells at the NASD. They have a department dedicated to watching for "unusual trading".
Oooops! My bad. I was the one who got it backwards. In that case, no idea why the MM was willing to buy at the ask.