Key quotes:
"If the Commission were to suspend or revoke CMKX's registration under the Exchange Act, CMKX would be considered a non-reporting company and would continue to trade on the Pink Sheets. In this event, CMKX intends to provide material information to the public, when available, through press releases and postings to its website.
Casavant went on to say, "We are committed to pursuing the corporate cleanup required to allow us to provide periodic reports to our stockholders; however, in the event the SEC determines that a suspension or revocation is in order, then aside from our compliance with such order, we will utilize our best efforts to provide minimum basic information to our stockholders, allowing for CMKX to continue trading on the Pink Sheets."
Although CMKX currently anticipates being able to continue to trade on the Pink Sheets regardless of the outcome of the administrative proceeding, it is unclear at this point if the Commission will take further action in an attempt to prevent the trading of CMKX's common stock on the Pink Sheets or any other medium."
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Again, it is very good that Mr. Maheu is on board. He and his team of attorneys certainly have a good grasp of a checkered past prior to his involvement.
My past posts stated 4 things which I believe are the 'high level' dynamics here. The first 2 dealt with past wrongs. The current actions are to correct those so to move on to face the future with new leadership and to actually run the company by investing in work, talent and resouces to grow it.
The 2 past issues were questionable MM practices and the other was questionable management practices. I'll say again as I did before, both may well have been in the wrong. What we are seeing now is dealing with issues of leadership prior to Maheu.
People have mentioned VWAP trading. In researching this further, respectfully I'm not convinced of what jay_adobe was posting about VWAP. I am 100% certain there are programs that follow each tick and it's individual VWAP. VWAP is nothing more than a technical analysis measure. It's not the price of the trade itself. VWAP measures weighted average price and is a tool for traders using technical analysis to determine if the price they bought in at is favorable. For example, if the VWAP that day is greater than the price they bought in at then that is a good indicator for a pps rise. In a nut VWAP is a calculation, nothing more, nothing less. Professional traders use these analyses to judge the strength of a price level all the time. Institutional traders and MM's use them as well. Institutions that need to break a trade into multiple transactions do so to maintain order to the prevailing price. If any stocks price was listed based on VWAP, stock prices would be all over the place almost every tick.
For example, a large order can be executed over multiple days, staying at 10% of volume per day (or whatever set percentage range), allowing participation in market activity while attempting to avoid negative price impact.
In sum with today's pr, it's another example of 'out with the bad - in with the good'. It will take some time for that. After which, the focus can fully go back to growing the company and improving share structure.
Bo
