CMKM Diamonds Inc. (fka CMKX)

[Rocketred]

DJ IN THE MONEY: Tracking CMKM Diamonds' 400 Billion Shares


By Carol S. Remond
A Dow Jones Newswires Column

NEW YORK (Dow Jones)--There are still a lot of unknowns about CMKM
Diamonds Inc. (CMKX), but one fact was cleared up by the company's
former transfer agent last week: There are lots of CMKM shares
outstanding.
According to Pacific Stock Transfer, a firm which acted as transfer
agent for CMKM for a short period last month, there are about 400
billion CMKM shares outstanding.
CMKM's share count had been one big mystery for shareholders that
had been trying to figure out just how many shares of this tiny mining
company are out there.
CMKM stock trades on the unregulated Pink Sheets market, which means
that the company doesn't file any financial information with
regulators. As reported in a previous "In The Money" column, CMKM has
refused to tell Pink Sheets how many of its shares are currently
outstanding. 1st Global Stock Transfer, CMKM' s transfer agent before
Pacific Stock Transfer took over, had also refused to discuss this
normally very basic information.
CMKM in March filed an amendment with the state of Nevada, where
it's incorporated, to increase the amount of shares authorized by the
company to 500 billion from 200 billion.
It's not unusual for billions of shares of CMKM to trade daily. CMKM
shares were recently down $0.0001, or 25%, to $0.0003. So far
Wednesday, 360 million shares of CMKM have changed hands.
CMKM said in a press release on June 29 that Pacific Stock Transfer
had taken over as its transfer agent. But that was a short-lived
assignment because according to Pacific Stock Transfer, it stopped
acting as CMKM's agent during early afternoon on July 1. A transfer
agent generally keeps track of a company's shares and transfers
shares between owners as trades clear.
Urban Casavant, CMKM's president and large shareholder, declined to
comment about Pacific Stock Transfer's departure or the amount of CMKM
shares outstanding. Casavant said that "press releases will be
coming." Asked whether CMKM plans on becoming self-transfering,
Casavant said "I've got no opinion right now."
The Nevada State Corporate database shows that a firm called Desert
Stock Transfer Co. was incorporated on July 1, the same day that
Pacific Stock Transfer stopped acting as a transfer agent for CMKM.
Casavant is listed as president, secretary and treasurer for Desert
Stock Transfer.
Roger Glenn, a lawyer retained by CMKM last month, declined to
comment on the company's loss of its transfer agent. Glenn also
declined to comment on what he is doing for CMKM. The company said in
press release on June 16 that it hired Glenn "in connection with
securities and corporate issues faced by the company." In previous
press releases, CMKM had indicated that it hired the lawyer and his
law firm to "represent the company in its desire to become fully
reporting once again."
CMKM, once Casavant Mining Kimberlite International Inc., stopped
filing with the Securities and Exchange Commission last July.
Trading in this tiny stock has been extraordinary in recent months.
So much so that trading in CMKM shares accounted for 44%, or 3.36
billion shares, of Knight Trading Group Inc.'s (NITE) average daily
share volume in February.

(Carol S. Remond is one of four "In The Money" columnists who take a
sophisticated look at the value of companies and their securities and
explore unique trading strategies.)

-By Carol S. Remond; Dow Jones Newswires; 201 938 2074;
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