CMKM Diamonds Inc (fka CMKX)

[matrix]

Topic: Finally the information I needed?
MLDiamonds
« Thread started on: Today at 08:28am »

I've been to 2 races (I hate races) and the Vegas party trying to figure out what this company is about, and yesterday I got to sit through 8 hours of it.

Lots is being written about the hearing yesterday, so I don't want to duplicate or make this unnecessarily long. I've formulated my ideas and I've slept on them (for about 4 hours) and in the following I'll try to stick to just the facts folks.

Before I start I'd just like to say that the judge was completely and instantly likable. A cross between Judge Judy and Aunt Bee.

The SEC lead counsel was very impressive. She was sharp, organized and knew quite a lot about CMKX.

All IMO...

CMKX has never intended to file.
OK, blame it on the incompetence of the people he hired, go ahead. URBAN hired the auditor in Jan, who has resigned in disgust last Friday, as he said, not wanting to do business with the likes of CMKX. He hadn't been given the infromation (ledgers, statements, etc) to get his job done.

Stockliens new accountant, Opus, has been trying repeatedly to get information from the company, but hasn't gotten what she needs to get the job done.

CMKX won't be filing anytime soon.
Christy Buck, cute, blonde, could be a 9-0-2-1-0 cast member, complete with valley talk, and not even a year out of law school is in the process of "categorizing" two boxes of records from the company. She stated that she could not give a time frame of when she'll have anything ready to be filed. She was sharp enough to catch the stockholder number discrepancy on the form 15 (wow) but hadn't verified Casavants business address on the 8K. The SEC lead worked her over pretty good. She explained to her that the discrepancy had actually been pointed out by the SEC to CMKX counsel back in December. Blondie said, Oh, I didn't know. This is who we have in charge of our filing? Give me a break.

Mahue the figurehead.
In a stately voice: "I was involved in starting up the pre-cursor to the Small Business Administration. I know how important it is to be in compliance. I'm here to pull out my whip and make sure things get done". Ummmm, ok. How many employees does CMKX have Mr. Mahue? "Well, I don't know". Do you have any employees? "I think so". Where are your employees Mr. Mahue? "I think they're in Canada". What do your employees do in Canada Mr Mahue? "I think they work in the field".

Even Aunt Bee had to be blunt. Mr. Mahue, do you ever get the feeling that you just might be getting used by this company to lend it some legitimacy? I'm sorry folks, but that's exactly what it looked like.

Outside the couthouse I asked John Martin when we would see valuation because I think that could start getting the PPS moving. He stated "We had to take care of this first. The company was EXPECTING to get delisted and revoked, later we'll come back and file and then after a few years you'll see movement in the PPS." Now I know John is not a company representative, but why would he say this? And why would he be ok with this pace and timeline? This just doesn't feel right anymore. I strongly feel that things aren't what they appear. Freinds something is very rotten in the state of DenMark.

No more Kool-aide for me.

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From: srinze
« Reply #1 on: Today at 08:32am »

If you were at the hearing, can you please tell us what tehy were asking UC that he kept pleading the 5th to.

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From: MLDiamonds
« Reply #4 on: Today at 08:49am »


The very organized counsel started by bringing up a number of press releases and statements that had been made in them.

Mr. Casavant can you turn to exhibit X which shows the PR dated thus and such?

5th

Then she would ask a series of questions about the PR, each which was greeted with

5th

Then she would wrap up questioning on EACH PR by asking something like: Is it your intent to plead the fifth surrounding all question regarding this (specific) PR on grounds that you might incriminate yourself?

5th

After the PRs, she asked about the webcast. And asked if he had participated in the webcast.

5th

Is it your intent to plead the fifth surrounding all questions regarding the webcast on grounds that you might incriminate yourself?

5th

There were a couple of official records she went over as well.

Mr. Casavant could you turn to exhibit x dated Jan 2003 where you filed papers with the TA to give 3 billion shares of stock to 360 people for "Field work in Canada".

5th

Can you explain what that field work was?

5th

Is it your intent to plead the fifth surrounding all questions regarding the this document on grounds that you might incriminate yourself?

5th

No more questions your honor.

Cross?

No questions your honor.

Thank you. The witness may step down.

That's pretty much the way it went.


Ref: http://cmkxdiamond.proboards32.com/index.cgi?board=general&action=display&num=1115818089

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From: MLDiamonds
« Reply #39 on: Today at 12:06pm »

This board is a community and we are here to help each other. If I can help someone by sharing what I saw and heard yeaterday, so be it. All the positivity (koolaid) that gets passed around here is great, especially to tide us over during those times when the company didn't provide info. But right now we have a lot of info, and we need to talk about it to try to figure out what might be going on here.

One point yesterday, when Ed Dhonau was on the stand and Stocklein said something like "And about that valuation---" Sec counsel: "I object your honor." Judge shook her head and sustained the objection. Later in the testimony Stocklein asked the jugde again for the opportunity to address the witness regarding valuation to "support his proof" or something like that. The judge said that he could ask her if he provides the valuation in the form of a question (which would include the valuation number). Stocklein said he would like to do that, but he had no idea what that number was(interesting). And then the judge allowed him to ask Ed, but I guess he couldn't ask him directly. So Stocklein asked "Do you currently own land in FALC." Ed said "Yes." Stocklein said "and what is the value of that land." Ed was quiet, mumbled a bit, shrugged his shoulders and then he said almost in jest. "I hope it will be worth something one day." Then Stocklein said: "have you received an offer to purchase your land." Ed said "No."

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From: MLDiamonds

This snippet here is all that was addressed re: valuation. It never came up again.


Ref: http://cmkxdiamond.proboards32.com/index.cgi?board=general&num=1115816640&action=display&...

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From: MLDiamonds
« Reply #5 on: Today at 12:37pm »

Actually Katiej:
The SEC lead counsel stated that they had brought up the issue of the invalid Form 15 to CMKX in Dec of 2004 and addressed it to CMKX counsel. The Stocklein attorneys were hired in February. Of course, cute n' perky Christy Buck had no knowledge of that, as she had just claimed, under oath, that SHE had found the discrepancy shortly after retaining CMKX .

Picture it this way, whatever funny business was gong on with the company stock trading billions a day and making somebody rich was going to go on as long as possible in the dark. Oh yeah, we're fixin' to file, just hang tight folks!! Then the SEC attorney comes calling and lets CMKX know that they need to file an amended Form 15. Dang! Now we have 60 days to get our books together!! Hire an auditor, hire an accountant, get Mahue in here. Where is that old shoe box containing the mining contracts?

Ref: http://cmkxdiamond.proboards32.com/index.cgi?board=general&action=display&num=1115830548