Replies to post #318434 on CMKM Diamonds Inc. (fka CMKX)

[janice shell]

It isn't clear what will happen to the stock. All of what Deli has sold was originally issued by Urbie. It isn't "new" stock; it's merely changed hands. There's no law against one private person selling or giving his stock to another: he need only inform the TA that the stock in question has changed hands. The TA will issue a new cert or certs. One the lists attached to the SEC's recent pleadings, you can see that quite a few people did that.

A problem only arises if a third party, acting as an unlicensed broker, profits by arranging these transactions.

[mretgnol]

if they are found guilty of selling unreg shares, the ones that bought them will lose them

No one is losing shares. The shares are real, but of a revoked company that is never coming back. That's another story.

Registered, unregistered, revoked, trading....brokering the sales of shares for more than two people is considered being a broker and you need a securities license to do so. Marco received multiple cease and desist letters telling him to stop. Marco's attorney was also told to tell Marco to stop.

Once he continued doing so, regardless of which bank account Marco was using, is a violation of his cease and desist and constitutes acting as a broker.

and to recoup there money they would have to sell the delli ?

No, to recoup money you would need Deli to offer refunds (and you know that is not happening).