This isn't personal it's business with CMKX/UCAD
I booked my my trip to Las Vegas at the very last minute BECAUSE I wasn't interested in a party, I went because there was supposed to be "earth shattering" news that affected UCAD and CMKX. Some of the rumors circulating were similar to the supposed CASH Dividends that ran around prior to the Denver Race, that didn't happen btw, and caused a lot of very bad karma for CMKX. We heard they (CMKX) could be releasing O/S, releasing financials, or maybe even a cash dividend. The rumors were rampant and I wanted first hand to see CMKX and UCAD's management up close and personal. I wanted to study the CMKX phenomenon. For the most part I did and much more.
No hard feelings this isn't personal, this is business.
It is my intent here to deconstruct what is/are the truth and separate what have been rumors and this piece will forgo buying bullsh*t wrapped in bullsh*t. There is no other spin on it.
The blond bimbo
First of all let's get something straight. Using the Blond Bimbo as an excuse is deplorable. This "far too emotional" woman only failed to properly say what the whole room was thinking "We were promised big news, that's why we are there and now were stunned, without any explanation whatsoever. When I heard certain mouthpieces for the company trying to use her as an scape goat I could refrain no longer and called that spade a spade. This was a major error in judgment to say the least, but I repeat all the blame and irresponsibility lies with the Companies involved, not the blond bimbo. I apologize on behalf of the whole crowd for your harassment. Look, I've been in the hospitality business my whole life and consult to the Industry. You always have one or two at events that act inappropriate, BUT THE PARTY CARRIES ON!
Bimbos in mens clothing
There were a ton of errors by CMKX & UCAD and they compounded their errors by not doing what they should have in the first place. If there was to be no info disseminated then it was the responsibility of Mr. D. Roger Glenn to issue that statement. Were that done all would have been fine. Remember that many of us Invested in these companies because of Glenn. Perhaps we should have looked deeper. I know I should have because when I did meet him and posed some questions I was not impressed in the least.
It wasn't in the professional manner that the events necessitated, in fact the faux paux got much worse. Ed Dhneau then proceeded to tell far to much to the groups that had surrounded him looking for answers. Again it should have happened on stage and if what I heard from him was true, that the SEC told them UCAD couldn't say anything, then why was he telling a select group about the big news in direct contravention of the SEC mandate? This was more like bimbos in mens clothes.
Another important fact that was not told is that being halted does not prevent releasing a Press Release, in fact the Companies have a duty to release information.
Finding excuses thru the trees
Then the next thing we hear from a certain mouthpiece of the company is that were it not for the Blond Bimbo we were going to say something later. It was then that I pointed out two things to this dubious fellow. First, I saw the written itinerary for the night which outlined prizes and announcements were scheduled between ten o-clock thru ten thirty and that the time passed without a announcement. Secondly, Ed Dhneau had stated to the group surrounding him that they were told not to make an announcement.
Sophisticated investors
While it is true that many of the investors in CMKX have little or no experience in stocks, there were by my observations many investors intent on coming, not for the party but to have a look see into the eyes and ask the hard questions of those in and around the CMKX and UCAD. We met quite of few real sharp investors many of which were sorely disappointed by the events that unfolded and left with more questions than answers. IMHO and I've given this much thought the primary beneficiary of this absolute stupidity was the shorts.
How to kill a brand in Nanoseconds
It was incredible and unbelievable, one of the most innovative brand creations in the history of the investing world. It was a brand creation so strong it built a real community, a netmunity (internet community) in the truest sense of the word of like minded people pursuing the American Dream of getting rich with a small grubstake. What the company managed to do in a nanosecond to 45,000 shareholders faithful and true, Cult or Community - very few would care which, was to certainly inflict a grievous wound and only time will tell if the momentum of the brand was destroyed. Certainly they will never regain the momentum. It just amazes me that the company could be so reckless with the CMKX brand phenomena. Certain individuals warned me that Company officials had no clue of the power of the brand they had created and that is the shame.
Summary
What we thought - isn't. There is a bigger truth to surface but it needs more deconstructing.
This may be the most important point IMO. The only benefiter's were the shorts.
The Jackmaster aka Jimymac
