Deeper Thoughts
Make no mistake, I'm interested in the thoughts and opinions of people about 703B number, the 'what if's' and NSS issues. However, I have this sense the number is what it is, and in light of the SEC investigation Mr. Mehue wanted that number public to put it behind us. The evidence of this fact was putting it out in a pr even prior to filing a formal report with the SEC. All of the discussion on semantics and what ifs will be put to rest Monday morning. I have no doubt that if the 703B is the o/s 'period' that his orders will be for the T/A answer the question and put speculation to rest.
One question we have asked in the past is still to me is THE MOST IMPORTANT question out there:
Why is a man of Mr. Mehue's status, connections and historic place in the world of business and finance involved in CMKX?
I humbly offer the following:
I cannot get past this sentence in the pr, which certainly seems like a quote from him directly,
"The primary mission of the SEC is to protect investors and maintain the integrity of the securities markets."
Mr. Mehue came on board either for 2 reasons:
1) He knew UC previously or someone in the CMKX/USCA/GEMM/SGGM circle and was introduced this way. I find it hard to believe he did, but if so he is doing one hell of a favor for a friend by putting his reputation on the line here to clean up UC's mess and save his behind. Prior to his appointment last month, this company of great potential was not only being mis-managed but we were being taken down the garden path while they got rich on our backs, which is very disturbing. So if there was a prior friendship here, then my second reason is moot.
If there was no prior friendship, then...
2) He was asked to get involved. Please read his short quote above again. Some may think what I will describe in this point is thinking out of the box, but it's not. I was humbled to sit in the highest level planning meetings for one company, and also saw how middle management got things done in both companies I worked for. Guys, this is exponentially bigger than that of course, so the following possibility remains. Imagine you are a governing body, seeing the biggest dilution effort in history and the gross mis-management we saw. Some might even say it was clownish. On the other side of the coin, 50,000 investors placed money and trust in a company with real potential. You have trust and potential being destroyed and abused by dilution and mis-management.
If CMKX has real potential but has been subject to illegal management practices deceiving investors, I believe after all options were weighed, you need to right the ship and ensure full disclosure to punish any past wrongdoers. Punishing any wrongdoers was always on the table, but the decision to turn CMKX around versus putting it out of business was their second concern. The complete loss of money from 50,000-70,000 investors would come at a great cost of any single, combined or class action suits against management, brokerages, the DTC and the SEC themselves. Not that any one party would be guilty (management would more likely bear the guilt beyond the others) but in civil suits you can name your 3rd grade teacher as a defendant if you want to. Thus even though brokerages, the DTC or the SEC were not guilty of anything, their defense costs would be staggering, plus all the negative publicity that would result. Lastly, read the small quote again. If CMKX has true potential, then a most viable option other than putting CMKX out of business and face what I described above, is to intervene and right the ship.
Enter Mr. Mehue.
Both the first scenerio or second is of great benefit to us, no matter how rotten the past has been. Don't forget that. Just be glad he is on our side. : )
Good Saturday all,
Bo
