Replies to post #161855 on CMKM Diamonds Inc (fka CMKX)

[janice shell]

Assuming for the moment that this is true:

Urbie did not dump the shares you and others appear to think he did.

How'd the other 350+ billion get onto the market?

I'm also wondering if some insider stock got cancelled. In connection with the CIM divvy, if you follow.

No one ever said that Urbie was dumping his OWN shares; we said he was dumping company shares. And not registering them. The company has more or less admitted to that.

[matrix]

The only thing they confirmed was IF insiders controlled that much of the o/s, then the entire shareholder base does not need to vote. This is correct. The TA never told them what percentage of the o/s Urbie and other insiders actually control. If you contact the TA, you'll see they will not divulge such information. CMKX' past filing shows Urbie and family (to include all officers and directors) held only 10.7% of the o/s in 2003 not 51%.
http://www.sec.gov/Archives/edgar/data/1092299/000111776803000002/schedule.htm

Urbie has not filed required Form 3's and 4's. So, no one here knows if he has sold or how much. If he didn't sell shares as you assume, then why hasn't he submitted his Form 3? It takes an hour max to fill it in and submit. If he did trade stock, it should take a few hours to do the same. One only needs to look at how his lifestyle changed since coming into CMKX to see he fell into an awful lot of money. Signs show he wasn't a very rich man when he arrived.

[Sec 10]

Easy-you may want to consider that it's not necessary to own a single share of the common stock to control 51% of the company.

As to why insiders would let themselves be diluted: who cares; there is no real value to be diluted. The whole play was selling the 700 billion shares.

Ya Think?

[Jim Bishop]

"who is controlling it has not changed." If that's the case it's not Urbie and family...it would be those famous "majority shareholders" but obviously they no longer own 85.8% of the shares out.

Still pulling Urbie's strings and possibly soon to cut him loose?