Euthydemus,
I meant to comment on yours yesterday but it was busy through the day. I'm going to have to head out for another busy one after this.
Your follow up was excellent. Your post is absolutely key for anyone who wants an understanding of how important the hearing and decision are. If CMKX dropped the ball in such a fundemental way, then I only hope the judge has the foresight to punish the wrongdoers and not the 50,000 shareholders. Allowing it to remain a tradable security with current leadership in place, while punishing or ousting prior leadership which was at fault is one compromise that would be fair.
Thanks for your comments. The only thing I wish to add is that further, the issues the SEC is focued on began their manifestation in 2003 and will likely be pointing a lot of their pleadings and oral arguements to evidence occurring at that time. If that's the case then CMKX being labled a small business issuer then has absolutly no correlation on what the float is today. It wasn't until Feb of 2004 that CMKX authorized a total of 500 billion shares and Aug of 2004 that they increased this to a total of 800 billion.
And again, revenue is used to be a measure a company's strength, product acceptance, growth and market share potential, etc. It is not a factor, (and I have NEVER seen it used), to measure the float. Given that premise if CMKX had revenue of $2,000,000/yr in either 2003, 2004 or 2005 (which I don't believe they had even that high in any one of those years) then we have a 703Billion O/S and we're to believe the float is only 10B????
Respectfully it doesn't wash, not a valid formula and simply moot to the current situation and share structure.
Later all,
Bo
