Now this is no surprise to me:
SEC files to exclude NSS....
www.cmkxownersgroup.com/SECSeeksExclusionofNakedShortEvidence.pdf As I've mentioned several times before, relevant to the issues on which the SEC will base it case and attempt to prosecute it against CMKX, they (SEC) are setting the stage for what they contend the issues are, simply stated…” CMKX's lack of filing as required under the various sections (12g, 13a-1..etc, )
This action by the SEC is a standard procedure, and I was surprised that they waited until now to execute it? Its understandable that the SEC is attempting to (1) derail the NSS issue being put forward by CMKX, which we can only assume at this point, are seen by the SEC as essentially the issues on which CMKX’s contention are based relevant to non-filing and by removing this strategy, the SEC increases it’s ability to win, or (2) the NSS is a real time issue, which the SEC is ill prepared to defend at this time and by attempting to refocus the judge exclusively as to the merits of what they (SEC) are contending as the real issues, they will avoid explaining why they have failed to identify, recognize and address the NSS, as the agency charged by Congress with that responsibility.
Given the recent efforts by the SEC, with the submission of the Limine Motion to exclude all evidence pertaining to the NSS issue, one can reasonably draw many conclusions which may or may not be germane to the matter.
We have to trust that the judge will view the introduction of the NSS as CMKX’s real means to at least “illuminate" for the courts, the reason behind why it has not filed on a consistent basis, but this in no way mitigates answering why the erroneous “share holder” count, unless of course “blame” for that error can be assigned elsewhere?
The strategy to have the NSS introduced as possibly the primary or at least a contributing factor in CMKX’s recent inability to file, may in fact be perceived by the judge as a “legitimate stumbling block.” It is also of considerable merit for our case, if CMKX provides a plausible explanation or “chain of events” as the reasoning behind the failure to file consistently. This data should be extemporaneous with its recent failure to file and not be reliant upon issues relevant to the original point in time of the erroneous share holder count. I’m not a judge, but if I view these as two separate issues, its possible the judge will and that the SEC may attempt linkage top further strengthen it case…!
We have to assume that CMKX has peaked the interest of other companies faced with sunc issues, we can only hope, that this action by CMKX will ignite a concerted effort by these “other” companies faced with similar problems, to force a showdown with the SEC.
The NSS is only the tip of the iceberg people, with the court room as center stage to address the NSS, maybe attention will be drawn to the other forms of market place manipulation. Win or lose, it will be advantageous to other companies given CMKX’s efforts to resolve this matter, or at least shine a very bright light on the problem, so that other companies will learn how to prepare their documentation to enter the room once we have “opened” the door.
In closing I would also add a final thought which I find disconcerting, the introduction of the NSS is, or at least appears to be the “lynch pin” upon which the “official” argument will be waged by CMKX in court. Maybe it isn’t and we are all being misdirected as to CMKX’s real strategy
I would hope that CMKX may in fact find that it’s NSS situation is the niche needed to effectively "defend " it's position of non-filing, or at least, our interests are best served by utilizing the NSS of CMKX stock, to demonstrate to the judge, how extensively pervasive manipulation of the marketplace actually is.
If we are given that consideration, that from a “corrupt marketplace” scenario, its just a short leap of faith to the perspective, that CMKX's contention for late and non-existent filing is in fact a real time issue of a "catch-22" situation, in which we (CMKX) are damned if we do and damned if we don't (file).
It is also my hope, that CMKX has a fall back plan, if the judge sides with the SEC on this matter?
The preceding post is strictly an opinion and should be treated as such and not viewed as, be considered as legal advice.
I apologize for the crudity of the post, I had very little time to rewrite the post and simply typed it, right after reading the motion to exclude…<br>
Take Care
fw