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Read all of it. Learn what kind of exploratory drilling is necessary before they can make any kind of determination. Has CMKX done this?
You're more familiar with these kinds of ventures than I am. What does this tell you? Scroll to the bottom for info about the FALC area:
http://www.kaiserbottomfish.com/s/CompanyProfile.asp?ReportID=59447
Yes. It's a kind of shell game, isn't it? (Though the earlier iterations of what's now Explor Resources traded on the Alberta Exchange.)
Pretty hard on investors, isn't it?
In what way would DTC "get involved"? Involved with what?
I don't know how long it would take to do a stock audit. But the financial audits will take at least six months, I should think.
Do you think they will have the audit done by July 1st or does it take longer?
It was burniere who said that, not me. So far he doesn't seem to have done it.
I've posted quite a bit about the Petro Plus mess on various threads, including this one.
Assuming there's any short (which I doubt)....the SEC has no powers that would allow it to force anyone to cover a short position.
They could bring civil litigation against any party that had violated its regulations, but that's all.
What if it was not just to help get SEC action to force the covering on any shorts?
lol, there were only two: AZNT and HITT.
AZNT and Mad Mikey Sylver were sued by the SEC for stock manipulation, securities fraud, forgery, accounting fraud, and more. Mikey now owes the SEC about $2 million. He also faces criminal fraud charges brought by the State of Nevada.
HITT was also sued by the SEC. Its CEO, Steve Bradford, was hit with a large fine and sanctions. Jeanette Wilcher, head of the Life Foundation Trust and "financier" of the company was sued by the SEC and others for fraud. She lost, failed to pay her fine and went into hiding. Charged with contempt, the judge decreed that her fine be doubled daily; she now owes far more money than exists anywhere. She was eventually traced and arrested, but was let out on bail. Dumb. I'm sure she's long gone.
Bizwire, alas, was a little oversensitive.
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.