...Eyes Wide Shut...
I'am going to try (LOL) to connect the dots to "what has Glenn done for us".I think it's a link between Glenn,Urban,Maheu,Sarbanes and the infamous recent letter from Andy to Larry....aka...Lross.
Who by the way.....i've speak with by e-mail and trust his info....just an fyi since he's been attacked lately for the e-mail.
Now...
June 4, 2004 :
" the Law Firm of Edwards & Angell has been retained to represent the Company in its desire to become fully reporting once again ".
( Take note of 'RETAINED" & "FULLY REPORTING" )
6/16/2004 :
" the company has begun working actively with D. Roger Glenn of Edwards & Angell, which it earlier retained, in connection with securities and corporate issues faced by the company. Glenn stated, "We have been retained by the company to resolve the problems it has been facing, and we expect to devote significant efforts immediately toward that goal.
( take note of "WE" & "RETAINED" )
7/26/2004 :
" D. Roger Glenn, CMKM's counsel, stated, "I will be traveling to Saskatchewan with the company's management to expand my knowledge of the company and its business in order to facilitate the company becoming fully reporting.
( Take note of this whole excerpt )
9/24/2004 :
" Glenn said, "The company's accountants are working to complete the audit of the company's financial statements. When that has been accomplished, the company will be well on its way to becoming a reporting company again."
( Take note of audit of financials and well on it's way to reporting)
10/19/2004 :
" CEO Urban Casavant and his advisory team accompanied by the company's SEC attorney Roger Glen
"Through the combined efforts of all the parties in this venture we have gathered a new frontier for the well being of our shareholders and company alike. The company will be moving rapidly into a revenue model here in the fourth quarter."
( Take note of...efforts of all the parties/ shareholders and company / revenue model here in the fourth quarter." )
1/31/2005 :
" the co-chairman of the board of directors and will assist Mr. Casavant in the immediate and long-term objectives of the company.
Feb 11, 2005 :
" corporate strategy plan designed to dramatically and comprehensively transform CMKX's internal corporate governance. The aggressive plan is being spearheaded by Robert A. Maheu
" A new team of securities attorneys has been instructed that their prime assignment is to correct any deficiencies of the past "
" Maheu has also instructed management that regular reports to stockholders and the financial community are imperative. "
NOW...consider "fully reporting".When we first heard this mentioned with the hiring of Glenn,we were caught up on the traditinal meaning....get us to a board.
There are now basically 2 parts to "fully reporting".The convintional and now being Sarbanes compliant.
Look over the pr's and you'll see Glenn was never part of the company mgt per say.He went to Canada to "learn" more about CMKM.
He "accompanied" urban and his advisors to the American mine.
He never said we "would" be fully reporting when he was done.
Sarbanes Section 404 mandates a company's auditor to identify 'any material internal control weakness' or 'significant deficiency', in verifying that management has sufficient operational command to produce reliable and compliant financial reports.
'significant deficiency' and "compliant financial reports. "....I think not reporting when you should be is a 'significant deficiency'...Glenn was here for 8+ months and never realized this? lol
On the financials we've been hearing about....Sarbanes mandates the CEO AND the CFO must certify these....as far as we know,we do not have a CFO right now.
On the CMKM statement of needing BOD insurance :
From Sarbanes under The Audit Committee...
The audit committee reforms will carry one unwelcome implication for directors: increased liability to shareholder lawsuits. Outside directors in the past were somewhat insulated from securities suits because they
were not considered responsible for managing the company or for the preparation of financial statements
On the statement from the pr of Feb 11, 2005 :
" comprehensively transform CMKX's internal corporate governance. "....this excerpt below is from a speech by the SEC Commissioner on April 7th,'03 :
I am encouraged by evidence that the market is driving reform. We read that companies are being more selective in choosing directors - and directors are also being more selective in choosing companies. We've heard that some director nominees now hire consultants to review the company and assess the rigor of its governance procedures, the quality of its reporting and its overall risk profile. In the current environment, companies have a strong incentive to adopt rigorous governance procedures because those that fail to do so will be unable to attract top quality directors and will pay a risk premium in terms of both director compensation and possibly officer and director liability insurance.
Also,one of the butt kickers of Sarbanes is the Whistle Blower section.....Mr.Mcdermott from E&A assisted Glenn with his Sarbanes publication.Mr.Mc Dermont has also spoken and has published writings on the Whistle Blower section of Sarbanes.
Remember what Urban said.....
"On behalf of the company and its stockholders, we would like to sincerely thank Roger Glenn and his firm for all of their past efforts,"
Remember what Glenn said in the June 6th,'04 pr...
"We" have been retained by the company....
Glenn is never part of mgt in the pr's...a Sarbanes requirement.If he does associate himself with mgt....then he wouldn't be able to advise SGGM,UCAD or CIM.
Glenn pointed out the problems and now the "MGT" side of CMKM is fixing the findings....ie: new SEC team.The team that fixes the findings for CMKM.
If Glenn was there to JUST fix NSS...why the need to travel with Mgt?That could be fixed from N.Y..
He was doing what he said....getting to know the company.NOT,to take us to another "board"
On Maheu saying....
" Maheu has also instructed management that regular reports to stockholders and the financial community are imperative. "
That statement is in-line with some of the maing goals of Sarbanes.
NOW,remember in Larry's E-mail form Andy....Andy said Glenn had NOT submitted anything to the SEC for CMKM.
To me,this makes since now being it's not his job to get us to another board....like we all expected
Lastly,remember Urban sayed on 10/19/04...
" moving rapidly into a revenue model here in the fourth quarter."
With the filing of the amendment,where does that put our delinquent filigns up to??....4th quarter by chance? LOL
IMO,CMKM is right on track
Gltua!
Chris
AI
