Forrest is half right here (which, for him, is an incredible improvement).
Yes, an owner of CMKM Diamonds shares may sell his or her property, though there are a number of requirements that must be met in order for such a transaction to be considered "private". It also sounds like "delidog" has failed to meet those requirements and is illegally engaged in publicly offering unregistered shares.
As for the nomenclature of whether these shares are "registered", Forrest, again, is half right. Somewhere, somehow, the shares of all corporations are "registered" on a shareholder roster. Whether its a corporate treasurer or a transfer agent that's maintaining the records, all shareholder ownership is "registered" in one form or another.
HOWEVER, "registration" as a publicly traded security is another animal altogether. And here, true to form, Forrest is wrong. In the context of the world of publicly traded securities, CMKM Diamonds shares are not "registered".
"The penny stock investor may be the most dangerous creature in the investment world, at least to himself.[...]His hypocrisy becomes most apparent when he then blames his losses on the greed of others." Robert C. Dugan, Director - JRM Capital