information discovered by various CMKX Shareholders suggests the stock may have been oversubscribed by as much as 9 times that amount….
What "information". Once again, please try to avoid confusing fact with fantasy. The o/s of CMKX is 703 billion shares. That is the only number that matters, and they are ALL unregistered.
We want to know why the SEC has failed to address this concern with Shareholders, ever?
The SEC has addressed that issue many times. Some shareholders simply refuse to believe them. The fact v. fantasy thing once again.
The National Association Of Securities Dealers (NASD), now known as The Financial Industry Regulatory Industry (FINRA), did not bring proceedings against a well-known brokerage firm, Jefferies and Co, even after they sent a letter, on May 6, 2005, to both the NASD (FINRA) and the SEC admitting they had traded 111 billion shares of CMKX outside the system, or "ex-clearing".
The trades were not immediately reported. And ex-clearing had nothing to do with it. Apart from the fact that JEFF was obviously dumping shares for a single client--who later turned out to be Edwards--there's nothing very interesting about what happened.
There is direct evidence that the SEC knew about, and was investigating, the illegal Pump and Dump of unregistered shares by company insiders as early as 2003; yet, the SEC did not bring a case forward until last year
The SEC probably wasn't following the company until 2004, when many of us began sending in detailed complaints. The Saskatchewan Securities Commission slapped on a Cease Trade Order in the summer of 2004, alleging that Urbie, Melvin, and others had been selling unregistered securities in that province. In October 2004, the SEC suspended USCA and announced an investigation into that company AND CMKX. In March 2005 the SEC suspended CMKX and announced its intention to revoke registration. The stock's registration was duly revoked.
And NONE OF THAT conveyed the slightest CLUE to you?
...and even then, they do not account for 363 Billion of the 662 billion unregistered/restricted company shares they claimed were inappropriately issued by company insiders from January 2003 and May 2005.
Huh? ALL of the stock was issued by insiders. Obviously. If you'd been following this board, you'd have known WHEN it was issued, too.
We want to know what became of the original investigations.
They culminated in the current SEC civil suit. It is hoped that they will eventually extend to criminal prosecutions.
We want to know why the Courts have still not ruled on this matter.
The law is slow. NO ONE can force a judge to rule on anything until he's ready.
We want to know why the SEC has not initiated further action against Urban Casavant when, by all appearances, he has snubbed the court and failed to appear before the court?
Like what? The judge can, at some point, hold him in contempt, but since he's not a U.S. citizen, he's unlikely to find that especially scary.
How could the SEC justify that level of investment in a case, and then not bring complete criminal proceedings…
Because they're not empowered to do so. Do you STILL not know even THAT???
Why has the SEC not allowed any of the Depositions to be released to CMKX Shareholders?
Because the shareholders are not parties to the suit. Sure, you could have got together and tried to file an amicus brief, but I guess nobody thought of that.
Long term investors bought into CMKX due to the mineral claims that Urban Casavant has secured the rights to.
They may have thought they did, but that was not the case, as many of us continually pointed out. The claims were never leased by CMKX itself, but by CMKX's partners.
Most of those claims are now mysterious held in control of another company, Shore Gold… a Canadian Company… and no one can provide shareholders with a rational explanation of how that could have happened.
NEWS FLASH!! Claims change hands every two years in Canada. You can retain them if you show proof that you're actually working them, or if you pay an exorbitant fee per hectare. Urbie did very little actual work on a very few of the claims--just enough to keep the marks excited--and let the rest lapse. How's that for a "rational explanation"?
Why hasn’t the SEC, and other government agencies, stepped forward to protect US Investor’s financial interests in these valuable claims?
Because the company never HAD any actual interest in those claims, as noted above. In addition, the claims are in CANADA. Canada is ANOTHER COUNTRY.
What is the current status of the Lawsuit between CMKM Diamonds and Entourage Mining Ltd. regarding the ownership of the claims that were transferred to Entourage?
Hello? The lawsuit was settled. How long has it been since you actually read this laundry list of grievances?
Citigroup and Smith Barney sponsored a CMKX company racing car during the “Got CMKX” marketing campaign, which was put in place to further pump up the share price and purchases.
No they didn't. That silly myth was exploded back in 2004.
We want to know what role [and financial interests] those two companies had in the CMKM Diamonds.
None. Both companies put out PRs denying any involvement with CMKX.
In addition, Knight Trading Group, now owned by CitiGroup, traded an average of about 3.36 billion CMKM shares a day, representing more than 40% of Knight's average daily share volume for the month of February 2004… and that level of trading by Knight continued over a three month period.
So what? And Citi bought Knight's derivatives division, which is entirely irrelevant to this discussion.
What possible scenario could have justified that amount of shares to be traded on the market?
Urbie's limitless greed, obviously. There's good reason to believe that if the SEC hadn't suspended trading in USCA and announced an investigation into CMKX, Urbie would have raised the o/s to 1.6 billion shares in the fall of 2004.
We want to know why the SEC forced the company to delist instead;
Instead of what? It was a massive scam, and Urbie lied on his Form 15.
We want to know why the SEC’s complaint only addresses 259 Billion shares issued and sold by John Edwards.
It doesn't. The SEC has always said the o/s was 703 billion shares.
We want to know why the SEC filed a complaint against NEVWEST, but not against many other broker/ dealers who helped clear the other 363 Billion Shares.
Because the other brokerages weren't working directly with Edwards.
There are reports that Robert Maheu initiated the CMKX Task Force that resulted in the Cert Pull, in order to force the many broker / dealers, market makers and hedge funds to the table, and compensate Shareholders for the fraud that these companies had participated in. Further, we understand funds were collected and put into a Trust for distribution to the Shareholders.
If you really believe that, there's no hope for you. At all.
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