Zak,
Your first point is valid and I honestly believe 99% of CMKX longs know this but simply can't bring themselves of admitting there was unmitigated massive diltution to the detriment of the share price.
Zak, for both longs, shorts, bashers & pumpers, 703B is the figure. It's a 2 1/2 week old dead horse. It isn't pretty, but in business you can't look back. It's a done deal and time to move on.
Don't get me wrong, I don't like it. The time people spent last year in this stock, not to mention their damaged reputation in telling others about the stock whenever you could only buy at .0003 and higher...took it's toll in time and money on many. My entry was good so I faired ok, but still felt the toll nonetheless.
But that's water under the bridge, or over the dam...wherever...the water is somewhere. lol
The second part of your post saying it was a scam and CMKX has no fundementals is where I disagree 100% and contend that statement is simply wrong. A scam to me is a company that has no assets nor any revenue generating product or service, nor any real plan of such. The corporation CMKX has much promise and potenital. The claims owned, TDEM survey, the aerial survey, the unranium claims in the Northern region plus the gold mine in Ecuador add up to a company with potential. Management prior to Mr. Meheu lacked in every way possible and simply diluted the stock to the heavens, but CMKX as a corportatin is not a scam.
It was 100% crystal clear that Mr. Maheu was righting the ship by taking bold and decisive action that was sorely absent before. They began the process to become reporting and those who illegally trade stocks and CMKX became scared and threatened. In 2005 with Level 2 and streaming trades, it's clear that manipulation occurs far beyond naked short selling, but revealing nss (like in the case of GLKCE) is the most concrete evidence of such bad faith trading.
I'm not sure why you and others need to come in here day in and day out to point out the same thing. Do you or your like-minded friends have the balls and bravery to admit that you or those you are affilated with short pinksheet stocks?
If you do, that's fine. I'd actually respect you and so it's your choice to respond.
I haven't followed the chatter much the last few days so I apologize if someone already brought up this point. If not, consider this:
The SEC "investigation" centers around the delay in the reporting by CMKX. They are using this deliquency as their reasoning for a determination to be made. Here's my fundemental problem with their entire contention: If the same governing bodies who are now citing CMKX for "delays in reporting" are among the same governing bodies who approved (or accepted) that CMKX was allowed to become pinksheet company in 2003, then their case has no merit. Their own actions and approval (or acceptance) 2 years ago fly in the face of what they are trying to do to CMKX now. lol
Pink Sheet companies do not require any listing requirements to be traded in that market. The companies quoted in the Pink Sheets (with the exception of a few foreign issuers) tend to be closely held, extremely small and/or thinly traded. Most do not meet the minimum listing requirements for trading on a national securities exchange, such as NYSE or NASDAQ. Many of these companies do not file periodic reports or audited financial statements with the SEC.
If there was no requirement for CMKX to file reports to the SEC after being listed on the pinksheets, then the SEC has no case.
I'm open to debate but adding my .02
Bo
