CMKM Diamonds Inc. (fka CMKX)

[Retflyr]

Ok, another Bed time story

ETCH, back 2003 the CEO passed away and the company just kind of feel away.
Stock at one time was in the 11.00 range, then started down.


In Dec 04 a filing was put out, that the company was in the process of coming back.

In Janurary a filing was submitted for Pink Sheet, but has not surfaced yet, and this stock trades on the grey sheet.

Float 98 million

I own this stock, and one can only buy, if a limit of .02 is made, and you do not request many shares. About all I have been able to buy, is in 5,000 lots.
ELITE TECHNOLOGIES INC /TX/: 8-K, Sub-Doc 1 BACK PRINT THIS PAGE CLOSE WINDOW



SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K

Current Report Pursuant
to Section 13 or 15(D) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 7, 2004


ELITE TECHNOLOGIES, INC.
(Exact name of Registrant as specified in its charter)

Texas
(State or Other Jurisdiction of Incorporation)


0-17597 06-1196501
------------------------ ----------------------
(Commission File Number) (IRS Employer
Identification Number)

330 East Maple Road, Suite 289
Birmingham, MI 48009-6313
---------------------------------------- ---------------
(Address of Principal Executive Offices) (Zip Code)



Registrant's Telephone Number, Including Area Code: [phone]

Former Name or Former Address, if changed since last report:
3340 Peachtree Place, Suite 1800, Atlanta, Georgia 30326








Item 5.02 Kathryn E. Schuster has succeeded her late husband Scott Schuster as
Chairman and sole Director. Alexander E. Kuhne, former outside counsel to the
company, has been named President, replacing Mr. Schuster, who passed away on
December 28, 2003. Also, former Elite employee Robert Elliott has been named
Secretary, and former employee Brett Lowenthal has been named Treasurer.

Item 8.01 On December 7, 2004 Elite Technologies, Inc. issued a press release
announcing its intent to re-start operations by expanding into the ownership and
operation of automobile rental franchises. In effecting the planned expansion,
the Company has agreed to enter into negotiations with U-Save Auto Rental of
America, Inc. for multiple franchise locations.





















SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

ELITE TECHNOLOGIES, INC.
(Registrant)

By: /s/ Alexander E. Kuhne
---------------------------------------
Name: Alexander E. Kuhne
Title: President

Date: December 9, 2004




















FOR IMMEDIATE RELEASE

Contacts:
Mark Johnson [phone]
Lex Kuhne [phone]
[e-mail]

ELITE TECHNOLOGIES, INC. (OTC: ETCH.PK), Re-starts
Operations, Plans to Expand Operational Portfolio to Include
Automobile Rentals

Birmingham, Michigan (December 6, 2004) Elite Technologies, Inc. (OTC:ETCH.PK)
announced today that it is re-starting its operations by entering into
negotiations to expand into the automobile rental industry via the owning and
operating of franchises. The company has received a letter of understanding from
U-Save Auto Rental of America, Inc., indicating the companies' mutual desire to
enter into negotiations for the Company to obtain and operate franchises in
multiple markets, notably Las Vegas and various California markets.

Elite has not operated or had any officers since the unexpected December 28,
2003 death of Scott Schuster, the company's founder, Chairman and C.E.O. Mr.
Schuster's widow, Kathryn E. (Beth) Schuster has succeeded Mr. Schuster as
Chairman and sole Director.

Ms. Schuster has named the company's former outside counsel, Alexander E. (Lex)
Kuhne, as President, former employee Robert Elliot as Secretary and former
employee Brett Lowenthal as Treasurer.

"It is vital to get Elite back operating as quickly as possible," Mr. Kuhne
said. "After various shareholders approached me to investigate the situation, it
has taken a substantial amount of time and effort to create the relationships
necessary to get Elite started again. The company has suffered for quite some
time, but we're turning the corner. Many people invested a lot of money in Elite
while Scott was alive, and the company's shareholding principals, including Beth
(Schuster) and I, are eager and hopeful to once again make Elite a successful
operation and create value for Elite's shareholders and investors."

"The rental car business is, admittedly, a departure for Elite," Mr. Kuhne
continued. "But we are excited about the prospects it offers Elite and its
shareholders. The rental car industry in general, and U-Save in particular, are
opportunities I was pursuing privately prior to again becoming involved with
Elite. The resources that a revived Elite and U-Save can bring to their
contemplated business relationship are many and mutually beneficial. We expect
this to be a positive first step of many on a new path to benefit Elite and its
investors."





The company has created a new e-mail address ([e-mail]) for any and
all parties interested in Elite's recent past and future.

SAFE HARBOR: This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. The forward-looking
statements are based on current expectations, estimates and projections made by
management. The Company intends for the forward-looking statements to be covered
by the safe-harbor provisions for forward-looking statements. Words such as
"anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates,"
or variations of such words are intended to identify such forward-looking
statements. The forward-looking statements set forth herein include the signing
of a definitive acquisition agreement and that a closing will take place. All
forward-looking statements in this press release are made as of the date hereof,
and the Company assumes no obligation to update these forward-looking statements
whether as a result of new information, future events or otherwise. The
forward-looking statements are subject to risks and uncertainties that could
cause actual results to differ materially from those set forth or implied by any
forward-looking statements. These uncertainties include those set forth in the
Company's SEC reports, including the Company's Form 10-KSB and other filings.
Copies of these filings are available through the SEC's electronic data
gathering analysis and retrieval system (EDGAR) at http://www.sec.gov.









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