Replies to post #296626 on CMKM Diamonds Inc (fka CMKX)

[Investorman]

Do you know what an "unregistered security" is? It is stock issued by the company that didn't meet the legal requirements to be sold into the market. Brokers aren't responsible for these shares, the company is.

At this point, all shares of CMKX, including all the certs, are unregistered.

[johnsmith123]

Time will tell and one thing us Xer's as Janice calls us has, is time, no choice of course

[IQ1]

If that's true "The SEC has the brokers by the ballz imo and they will be forced to have to accept the certs back. "

Then perhaps the brokers will be forced to swallow the costs ?

[janice shell]

When the SEC stated "Unregistered Securities" in their complaint they pointed the finger at the brokers.

No they didn't. They pointed their finger, so to speak, directly at Urbie and Edwards. Urbie signed off on all those issuances; Dvorak wrote the opinion letters; Glenn approved them; Bagley accepted them.

The issue has nothing whatsoever to do with brokerages.

have you ever wondered why the SEC said "Unregistered Securities"?

What's to wonder about? It would be because they were unregistered. The stock in question entered the market thanks to fraudulent opinion letters. It was obvious at the time, and a red flag for the SEC. Some of us on this board commented at some length on this board in the summer of 2004 that Urbie had to be issuing unregistered stock and covering with bad opinion letters.

[Paddle Fisher]

Chris-for someone with such strong opinions you really have very little idea of how the market works or or of the ins ands of the SEC.

You believe that the company will trade again-believe based on what, on off the cuff comment by Frizzy or litle Frizzy? The company cannot trade again, at least as CMKX. That class of securities that you hold was permanently revoked by the SEC. To "trade again" CMKX would have to file a new form 10 with financials, peojections, and a prospectus, which would have to reviewed and approved by the SEC. That is a nine to 12 month prospect for a clean company, much less a scammmy shell, and could easily cost in excess of a billion bucks.

Trade why? The company has no assets, no expertise, no managemnt capabilities and no real prospect of gaining any-why would new assets want to share with the much vaunted 40,000 +++ current shareholders.

Unless you are making some half-cocked existential argument for value there is lesss that zero reason for this shell to exist.

Now go learn what an unregistered share is, and who is liable for issuing one.