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YESSSSSS!! That'll guarantee success!!
Excellent!! Get a new alias, add an email address to which enquiries may be directed, and post it on the CMKX, PCBM, and INOV threads.
Bet you'll have LOTS of takers.
LOLOLOLOLISSIMO!! Sandy, you really are a HOOT!!
I wonder if we could consider the whole idiotic Cellar Boxing thing to be attempted market manipulation?
Hints on several boards suggest that the inventor is Dr Jim the Consulting Dentist.
All the sheep have to do is use a calculator for 5 minutes and the huge profit theory vanishes. But, they won't.
Sheesh. Compare that to Martha's sentence. Something is badly wrong with our justice system.
LOL!! The comments are gonna be hilarious!
"The possibility exists that investors' attachment to the certificate may be based more on sentiment than real need," the SEC said in a "concept release" on speeding trade processing.
Hell no. Smart as a whip, he is.
But.... PCBM and CMKX are practically identical stock printing operations...
Amazing that the same poster feels the same way about 2 entirely dis-similiar stocks.
I'm sure there's a way... I think there're futures. Probably options too.
Yup. Shorted the snot outta it, and told everybody he was doing it.
Yup. Tony was absolutely right. It was a slimy scam.
BUT the real question is: does the landowner really have the mineral rights? In the case of MTEI, that wasn't the case. What they'd done was this: Marc Tow had bought up a lot of tax liens. He hadn't actually paid off the taxes, though, except for a couple of small parcels.
We got in touch with a guy in the West Virginia Geological department. He checked it all out and learned that the mineral rights didn't come with most of the property involved.
Mineral rights and property rights are two entirely different things. Sometimes you can own the property but NOT the mineral rights. Does the owner of the property in this case actually HAVE mineral rights to sell?
I don't know. The same questions came up in the MTEI scam.
Even more interesting:
SEC vindicates Elgindy in NASD's Saf T Lok case
Securities and Exchange Commission *SEC
Thursday March 11 2004 Street Wire
by Brent Mudry
In a major win for Amr Ibrahim (Anthony) Elgindy, the U.S. Securities and Exchange Commission has thrown out all the serious penalties imposed against the controversial California shortseller and fraudbuster by the National Association of Securities Dealers. In a humbling defeat for the NASD, the SEC dismissed the NASD's ban, expulsion and $50,000 fine against Mr. Elgindy, after finding no credence to the industry regulator's conclusion that his shorting of Saf T Lok, a controversial penny stock promotion, was manipulative in any way.
"I'm obviously very thrilled with the decision," Mr. Elgindy told Stockwatch. "When I heard (of the dismissal) I just screamed."
The NASD saved a little face, however, as the SEC upheld its modest $1,000 fine against Mr. Elgindy for neglecting to mention in bearish press releases that his then-firm, Key West Securities Inc., was a market maker in Saf T Lok shares.
"I made a small mistake on the press release and got a ding for it, which I should have," Mr. Elgindy told Stockwatch.
The near-total vindication by the SEC comes as Mr. Elgindy prepares for the biggest challenge of his life, an unrelated four-to-six-week criminal trial set to start June 1 in New York. Mr. Elgindy, who built a reputation as whistle-blower on numerous dubious penny stock promotions, remains hopeful the jury will see through the government's charges that he allegedly used stolen FBI information to short inflated penny stocks. "I am just hoping that it is the truth that matters -- my life is on the line," he told Stockwatch.
Mr. Elgindy is no stranger to Howe Street, having used such Vancouver brokerages as Pacific International Securities and Global Securities for his shorting activities. Based on the NASD and FBI cases, the British Columbia Securities Commission imposed preliminary trading restrictions on Mr. Elgindy in mid-2002, with an update review set for April 1.
Mr. Elgindy, who proclaims innocence on all charges, suggests the criminal case is as trumped up as the flopped NASD prosecution. He finds his status as a high-profile target particularly ironic, given the extensive assistance he has provided authorities probing suspect stock deals. "I had helped so many SEC agents -- probably 45 or 50 SEC guys, five or six FBI guys and I testified for the NASD against (banned broker) Jerry Rosen."
THE SEC VICTORY
In an administrative opinion released Wednesday, the SEC dismissed virtually the entire NASD case against Mr. Elgindy and Key West. "Based on the record before us, we cannot conclude that the evidence demonstrates that applicants engaged in a manipulative scheme," stated SEC chairman William Donaldson and commissioners Cynthia Glassman, Harvey Goldschmid and Paul Atkins in the decision.
The Saf T Lok case traces back to late 1997. "By October 9, 1997, Saf T Lok was nearly insolvent and facing delisting," states the SEC. That day, however, the stock skyrocketed after a wire story reporting President Clinton had signed an agreement requiring handguns to have gun locks. On Oct. 9, the stock opened at 43 cents and shot up to $3 on volume of 12 million shares. The next day, the stock closed at $4.56 on 17.6 million shares.
Enter Mr. Elgindy, an experienced professional skeptic. According to the SEC, he called Saf T Lok and was told the Clinton edict would not benefit the company, and no handgun makers had bought its products because they were too expensive and relatively ineffective.
Mr. Elgindy issued a series of press releases dousing red-hot Saf T Lok with cold water and began shorting the stock, reaching a peak short position of 58,000 shares.
(Saf T Lok had an intriguing history before and after Mr. Elgind's short fling. In June, 1997, Nasdaq Stock Market officials notified Saf T Lok management that the company faced delisting from the SmallCap Market because its assets had fallen below the $2-million threshold. In an ill-fated bid to raise capital, Saf T Lok began negotiating with Sholam Weiss, also known an Shalom Weiss, who claimed to represent various offshore entities. Two years later, in November, 1999, Mr. Weiss fled Florida just before a jury convicted him of 78 counts in an unrelated case. He was sentenced in absentia to 845 years in jail and $248-million in fines and restitution and extradited from Austria several years ago, although he filed appeals with the United Nations human rights committee.)
Since then Mr. Elgindy has fought several rounds with NASD Regulation.
First the NASD launched a case claiming Mr. Elgindy manipulated Saf T Lok trading. This first round flopped on Dec. 30, 2001, when a hearing panel found no evidence of manipulation. Instead, Mr. Elgindy was found liable for two lesser offences: failing to honour a series of high bids and issuing the incomplete press releases, for which he was fined $2,000 and $1,000, respectively.
In round two, the regulatory appealed to its National Adjudicatory Council, which overturned the dismissal on May 7, 2003. The appeal panel found Mr. Elgindy had engaged in market manipulation. He was fined $50,000, barred from any association with any NASD member, and had his brokerage Key West expelled from NASD membership.
In the third round, Mr. Elgindy appealed to the highest level of the SEC, which threw out the key manipulation charge and the related penalties. The dishonoured-bids charge was already effectively dead, as the NASD appeal panel made no findings. This leaves Mr. Elgindy with just the $1,000 fine for his incomplete press release, the regulatory equivalent of a jaywalking ticket.
Although Mr. Elgindy accepts his lumps on this minor offence, he defends his conduct with an explanation. He says he wrote similar press releases only twice before, on desert-dirt play International Precious Metals and another company, innocently neglected to mention his status as a market maker, submitted both in advance to the NASD regional office, never heard anything back, and assumed he had done no wrong.
Mr. Elgindy's vindication by the SEC is not the first time he has beaten the folks at NASDR, who do not often lose cases.
In a separate NASDR prosecution stemming from Saf T Lok, the regulator charged him with perjury for lying to investigators in an interview. The regulator claimed he gave a false answer when asked whether he had ever entered into an immunity agreement with any prosecution office. "Never," he replied. "Never. Never. No. Everything I've ever done was voluntary. I have no immunity from anybody for any reason," he added later. Based on this answer, the regulator sought to bar Mr. Elgindy from the industry.
In an April 2, 2002, decision, the hearing panel threw out this charge as the regulator failed to show by a preponderance of evidence that Mr. Elgindy knowingly provided false testimony. The panel was critical of NASDR's assistant chief counsel for imprecise questioning of Mr. Elgindy during the contentious interview, specifically by not explaining which of several types of immunity he was talking about, and by not posing follow-up questions to clarify the issue.
In the contentious interview, Mr. Elgindy confirmed he had worked with the U.S. Attorney's Office, the U.S. Department of Justice, the SEC, the FBI and the Internal Revenue Service on a stock bribery case, which resulted in 11 convictions over a three-year period and the shutdown of Armstong McKinley, a controversial brokerage.
Oddly enough, while NASDR's Web site posts countless disciplinary cases, including those which Mr. Elgindy lost before his recent vindication, the dismissal of his serious perjury charge is absent. Mr. Elgindy would like to see this previous victory posted too, not just his previous losses.
(c) Copyright 2004 Canjex Publishing Ltd. http://www.stockwatch.com
This is interesting. Just out today:
ORDER SETTING ASIDE IN PART AND SUSTAINING IN PART DISCIPLINARY ACTION TAKEN BY REGISTERED SECURITIES ASSOCIATION
On the basis of the Commission's opinion issued this day, it is
ORDERED that the bar from association with any NASD member in any capacity imposed by NASD against Amr Elgindy be, and it hereby is, dismissed; and it is further
ORDERED that the expulsion from membership imposed by NASD on Key West Securities, Inc. be, and it hereby is, dismissed; and it is further
ORDERED that the $50,000 fine imposed jointly and severally on Amr Elgindy and Key West Securities, Inc. be, and it hereby is, dismissed; and it is further
ORDERED that the $1,000 fine imposed jointly and severally on Amr Elgindy and Key West Securities, Inc., be, and it hereby is, sustained.
By the Commission.
Jonathan G. Katz
A great many diamonds.
$50 billion is a lot of diamonds
Especially given that prices ain't what they once were. For years the big companies have been afraid the Russians would dump tons and tons into the market and depress prices even further.
De Beers is trying to keep production at limits calculated to sustain decent profits. Something tells me that if they had reason to believe CMKX's property would yield a lotta stuff, they'd have bought it themselves. A long time ago.
Sue can.
Can you take a public company private and leave the shareholders behind?
Just issue yourself some non-reversible preferred, reverse split the shareholders of common outta existence, and apply for a revocation of registration.
I did too. Said he was gonna appoint Slurp to the Federal Reserve Board.
Yes, I believe I heard Mr. President refer to PCBM in his speech.
I can. Sandi's one of the real hardliner True Longs.
I can't believe even Sandi gets sucked in by slurpy??!!
LOL!! We need a name for the Otter.
I suspect that the SEC has nothing but deep contempt for these whackjobs, and rightly so.
I suppose that if this continues, they will. This insane dilution really needs to be stopped by somebody.
snicker...
lol, I'm sure they did. Looks like Shorty wasn't forced to cover. What a shame.
Many thanks! I did a board search for CMKX and got nothing, but then that function often doesn't work.
Here's something VERY odd. Last night I wasn't anywhere near finishing my skim of the CMKM thread. Today I find that there are "no new messages" there. AND when I hit on the board itself, I get the Angry Ant's server error message.
What's up? (Not CMKX, that's for sure.)
I think that's true for most of them, but some irrationally believe that the share structure will be announced tomorrow. Of course some also believe that they'll reopen trading on the Naz.
These people are frighteningly stupid. I find it quite disturbing to realize that they vote, they drive cars, they FIX cars, they do lots of things that could imperil the lives of others...
I guess the symbol change is such big news the longs already forgot about the share total. ;~)
It's definite that no split has been announced, but maybe it's planned as a one-two punch.
hmmmm....
LAS VEGAS--(BUSINESS WIRE)--CMKM CMKX--The board of directors of CMKM Diamonds Inc. (Pink Sheets: CMKM) announces Nasdaq has approved and assigned a new trading symbol to the company. Effective 03-10-04, the new trading symbol for CMKM Diamonds Inc. will be CMKX.
Wouldn't it be interesting if they decided to do a r/s as well?
Another great one, Paulie!
I question his REASON.
I sure as hell don't poke fun at him for his losses. I do question his rationale.
Actually they should Trust the Nasty Bashers. We're always right, after all.
He needs to understand that this "philosophy" has done nothing for him.
trust the self
Sheer insanity.
AlanC definitively proved to be space alien:
Ah yes, I'd forgotten they don't have a drilling license.
Nope. Marx Brothers first, then Laurel and Hardy.
Yep. Abbott & Costello are #2, Three stooges #3
lol, the CMKM thread is hilarious these days.
Just occasionally look at the CMKM board. Mainly to see who I recognize. Has anyone confirmed the existence of 500 billion shares?
Yes, quite a few "investors" called the Nevada SOS and they all got the same answer: the authorized is 500 billion. Nobody knows exactly how much of that has been issued, but the sensible guess seems to be around 300 billion.
I was messaging with a friend today; he checked out CMKM on Level II. Said that only three of the fourteen mms were open for business, and they were all on the offer. He added that they have only one claim, and it's only 20 acres. He also took a look at a photo of the famous drill and said it looked more like what you use to dig wells....
Not just for PCBM. That thing was being posted all over RB last night.
There was an article posted last night by elrac about "Cellar Boxing," a new term to me, that I think was an official kickoff to the concerted effort at the 4/1 pump.
I don't agree. Scion isn't by any means ego driven. He's just sick and tired of double standards on message boards. RB is the most obviousl offender, though IHub willingly tolerates paid shills as well.
I really don't see why posting Soloway's email address should be a BFD. He IS a public representative of RB, and should be accessible to users.
That RB is biased is beyond any doubt. Why shouldn't they be called to account?
I agree. Scion isn't by any means ego driven. He's just sick and tired of double standards on message boards. RB is the most obviousl offender, though IHub willingly tolerates paid shills as well.
I really don't see why posting Soloway's email address should be a BFD. He IS a public representative of RB, and should be accessible to users.
That RB is biased is beyond any doubt. Why shouldn't they be called to account?
Oh my!! How amazing!! Pure coinkydink, I'm sure!!
It seems AlanC and Hoochie koo have both reappeared at the same time. Can you imagine that? LOL!!