I just spoke with Kevin West. He just returned my phone call. I am SHOCKED he called me back. I was getting ready to leave for my morning commute and out of nowhere he calls me from his office phone.
Kevin wanted me to know that the company is doing everything possible to retain shareholder value. I asked Kevin "who" is the company and that is where things go gray. I honestly believe Kevin is now in a situation that he doesn't want to be in. There is NO OTHER ASSETS other than ETGMF. Everything else is GONE. There is NO cash, NO dividend, NO sting. PERIOD
I will explain the "company" later today. But I will say that I asked Kevin specifically if he has participated in any BOD meetings and his answer was "NO". Nice for our acting CEO. He knows of no BOD meetings and Urban has kept him in the dark after repeated questioning from Kevin about this subject. Kevin has asked over and over again to try and go through the books and get a grip on what happened. Urban has promised him he will do so, but nothing has been provided by Urban. When Kevin presses Urban, Urban just says he'll get the info to him soon.
I can tell that Kevin is a bit pissed being put in this position of having to try and pacify shareholders, and Kevin sees reality staring him in the face. Urban is compensating him well, but his checks DO NOT come from CMKX, rather from Urban's personal bank account. Obviously there is NO company.
Our ETGMF are at risk if the interplead isn't settled soon, they may go back to ETGMF and we get left with NOTHING. There are some significant legal issues involved and we do stand to lose ALL of our ETGMF shares, and this may happen very soon.
Kevin told me that ETGMF has some meeting in a few weeks and this matter will be addressed from the ETGMF side, NOT from CMKX.
There is more to say, but I need to go to work. I will add more about our conversation later today.
Kevin did say he has received literally tens of thousands of phone calls and is just going down the list to return all of them. When he gets caught up, he will clear his voice mail and start taking calls again.
I told Kevin how much I appreciated his call and asked his permission to post this message.
AI
