skunksyard ...
1) Good question. Perhaps an accountant here can answer this one cause I don't know.
2) If any outsiders have access to the entire "gift" list, they are staying very quiet. I think it was Coreton who said he saw 40-50 names. At what point in time this was who knows. Sterling claims he hasn't seen the entire list.
3) CIM is a private company. Shares in a private company are pretty worthless unless you get a cash dividend, they are bought back from you, or the stock trades someday so you can sell it. When I checked w/ the SoS on 5 Aug, the a/s was only 25 million shares. Someone should probably check to see if it was raised to account for all the extra shares. Last I heard, these free CMKX and CIM shares have not been distributed yet.
4) Yes, it is indeed dilution, but the dilution actually occurs at the time Urbie issues the shares to himself. It's not normally felt in the market until they hit into the float and start trading. If the info was widely distributed, it could start affecting trading now. Not everyone reads these boards or goes to Sterling's chatroom. Those who do still have no clue on the total being distributed. So many are focused on the "gift" recipients and few seem to care on finding out why Urbie is issuing himself all these shares in the first place or who has been doing all this selling.
5) Probably because they knew the non-recipients would be angry. If they could have kept it secret, I bet they would have even thru today.
6) There's nothing wrong w/ a shareholder visiting a company he owns stock in. The timing of this visit makes it look very suspicious though. Sterling supposedly tried to keep this secret because others who found out were trying to also go, and they weren't invited. He thought it would be a nightmare if he announced it and everyone tried to do the same.
1) Probably the only way you'll find out for sure is to get a bunch of investors to pool their shares together in a voting block and demand the company open up its books. Nevada requires something like holders representing 10% of the o/s. Since CMKX avoids answering people who ask what the amount is, you can probably just pick any o/s number you want for this purpose.
2) I think the decision was made before the Denver race.
3) Sterling will have to answer what he did there. Interacting w/ such a large number of people is a huge headache -- it's very time consuming, you get attacked, you get threatened, etc. My understanding is Glenn suggested to Sterling that he take himself out of the high tension environment he was in and just ignore everyone in the chat and the forums.
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