Replies to post #80696 on CMKM Diamonds Inc (fka CMKX)

[fung_derf]

Actually, much more important should be, why someone with a few thousand dollars invested would really WANT to spend that kind of money to go visit the company?

[matrix]

investorcg: Sterling said he did not attend any corporate meetings, but feels he was exposed to some insider information during this trip.

Urbie is very happy that shareholders have attended and supported the races. He wants to reward those who did by giving them shares from his personal holdings, which he of course issued to himself. I've heard a couple versions of the plan. One is that Urbie will give 6 billion CMKX and 3 billion CIM restricted shares to Sterling, Jose, and Peter (and one other I think) . They can redistribute to whomever they want. The second version is that there is a list of race attendees/workers (including these three) plus some others. The 40-50 or whatever names on the list will each get 3M CMKX and 3M CIM restricted shares. The numbers don't jive between their two versions. It may actually be some hybrid of these.

I understand your anger. Urbie though is allowed to give his shares to whomever he wants. However, there's no public disclosure or accountability on how many shares he keeps issuing to himself. IMO what he's doing is decreasing the value of non-recipients' investment to reward others (ie rob Peter to pay Paul and move it thru Mary's pockets to make it legal) . Because of the backlash occurring, Sterling supposedly said he plans to ask Urbie not to give out this stock. We'll have to wait and see if he does.