Post by ToddCT on May 4, 2005 10:50:57 GMT -5
CMKM Diamonds Updates Stockholders on the Status of the Upcoming Administrative Hearing
LAS VEGAS, May 04, 2005 (BUSINESS WIRE) -- CMKM Diamonds Inc. (Pink Sheets: CMKX) wishes to update all stockholders on the status of the upcoming administrative hearing set for Tuesday, May 10, 2005, as CMKX is preparing to present their case via a public hearing as ordered by the commission.
CMKX has been diligently preparing for the administrative hearing by gathering and coordinating the compilation of documentation necessary to provide the administrative law judge with a status report on its accounting and 12g reporting efforts. "We have been working to assimilate a tremendous amount of documentation and gathering the necessary witnesses to prove our case at the public hearing," stated Urban Casavant, president of CMKX.
The Division of Enforcement has requested a ruling from Judge Murray in advance of the hearing to prevent CMKX from discussing or providing any evidence of naked shorting in the common stock of CMKX. The Division of Enforcement contends that evidence of naked shorting is immaterial and irrelevant, but CMKX considers it very relevant.
CMKX believes it is in the best interest of its stockholders to be informed about the securities in which its stockholders invest and CMKX acknowledges that all of its stockholders have a right to access public information.
CMKX has been working with Bill Frizzell, counsel to the CMKX Owners Group. CMKX and Frizzell have been working diligently together in an attempt to achieve the best possible outcome for CMKX stockholders at the hearing. Frizzell's assistance in this important matter has been instrumental in moving CMKX closer in its goal of investigating and resolving all possible issues relative to the trading in CMKX's stock.
Additionally, CMKX management sincerely appreciates and acknowledges the CMKX Owners Group for its efforts in demonstrating loyal stockholder support for CMKX management's ongoing effort to build stockholder value. Information about the owners group and their current numbers can be obtained at their Web site (www.cmkxownersgroup.com).
CMKX reminds its stockholders and the investing public that all corporate updates will be made solely through press releases and/or current reports on Form 8-K as and when they become available.
Forward-Looking Statements
This press release may contain statements that constitute "forward-looking statements" as defined under U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "establish," "project" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are based on current expectations and assumptions that are subject to certain risks and uncertainties that could cause actual results to differ materially from CMKX's historical experience and its projections. Such forward-looking statements are inherently uncertain, and actual results may differ from those expressed or implied in the forward-looking statements. Consequently, readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date they are made.
CMKX's actual results could differ materially from such forward-looking statements because of factors such as: impact of the results of the administrative hearing on CMKX's stock price; impact of the hearing on CMKX's operations; CMKX's ability to continue to trade on any platform; uncertain further regulatory scrutiny; the current state of CMKX's operations; unavailability of documentation and corporate records; the impact of potential naked short selling on CMKX's stock price and its ability to prepare its 12g reports; the impact of failing to meet 12g reporting requirements; the ability to rebuild financial records; any actual or perceived benefits derived from CMKX's cooperation with Frizzell and the CMKX Owners Group; timing necessary to comply with reporting requirements; lack of adequate internal controls; unforeseen capital deficiencies; changes in the mining and metals environment, including actions of competitors; the effectiveness of CMKX's development and drilling programs; regulatory and legal changes; and other risks associated with companies in similar industries. CMKX undertakes no obligation to publicly update or revise any forward-looking statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
SOURCE: CMKM Diamonds Inc.
CONTACT: CMKM Diamonds Inc., Las Vegas
Andrew Hill, 306-752-3755 or 877-752-3755
cmkxir@mail.casavantmining.com
Copyright Business Wire 2005
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LAS VEGAS, May 04, 2005 (BUSINESS WIRE) -- CMKM Diamonds Inc. (Pink Sheets: CMKX) wishes to update all stockholders on the status of the upcoming administrative hearing set for Tuesday, May 10, 2005, as CMKX is preparing to present their case via a public hearing as ordered by the commission.
CMKX has been diligently preparing for the administrative hearing by gathering and coordinating the compilation of documentation necessary to provide the administrative law judge with a status report on its accounting and 12g reporting efforts. "We have been working to assimilate a tremendous amount of documentation and gathering the necessary witnesses to prove our case at the public hearing," stated Urban Casavant, president of CMKX.
The Division of Enforcement has requested a ruling from Judge Murray in advance of the hearing to prevent CMKX from discussing or providing any evidence of naked shorting in the common stock of CMKX. The Division of Enforcement contends that evidence of naked shorting is immaterial and irrelevant, but CMKX considers it very relevant.
CMKX believes it is in the best interest of its stockholders to be informed about the securities in which its stockholders invest and CMKX acknowledges that all of its stockholders have a right to access public information.
CMKX has been working with Bill Frizzell, counsel to the CMKX Owners Group. CMKX and Frizzell have been working diligently together in an attempt to achieve the best possible outcome for CMKX stockholders at the hearing. Frizzell's assistance in this important matter has been instrumental in moving CMKX closer in its goal of investigating and resolving all possible issues relative to the trading in CMKX's stock.
Additionally, CMKX management sincerely appreciates and acknowledges the CMKX Owners Group for its efforts in demonstrating loyal stockholder support for CMKX management's ongoing effort to build stockholder value. Information about the owners group and their current numbers can be obtained at their Web site (www.cmkxownersgroup.com).
CMKX reminds its stockholders and the investing public that all corporate updates will be made solely through press releases and/or current reports on Form 8-K as and when they become available.
Forward-Looking Statements
This press release may contain statements that constitute "forward-looking statements" as defined under U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "establish," "project" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are based on current expectations and assumptions that are subject to certain risks and uncertainties that could cause actual results to differ materially from CMKX's historical experience and its projections. Such forward-looking statements are inherently uncertain, and actual results may differ from those expressed or implied in the forward-looking statements. Consequently, readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date they are made.
CMKX's actual results could differ materially from such forward-looking statements because of factors such as: impact of the results of the administrative hearing on CMKX's stock price; impact of the hearing on CMKX's operations; CMKX's ability to continue to trade on any platform; uncertain further regulatory scrutiny; the current state of CMKX's operations; unavailability of documentation and corporate records; the impact of potential naked short selling on CMKX's stock price and its ability to prepare its 12g reports; the impact of failing to meet 12g reporting requirements; the ability to rebuild financial records; any actual or perceived benefits derived from CMKX's cooperation with Frizzell and the CMKX Owners Group; timing necessary to comply with reporting requirements; lack of adequate internal controls; unforeseen capital deficiencies; changes in the mining and metals environment, including actions of competitors; the effectiveness of CMKX's development and drilling programs; regulatory and legal changes; and other risks associated with companies in similar industries. CMKX undertakes no obligation to publicly update or revise any forward-looking statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
SOURCE: CMKM Diamonds Inc.
CONTACT: CMKM Diamonds Inc., Las Vegas
Andrew Hill, 306-752-3755 or 877-752-3755
cmkxir@mail.casavantmining.com
Copyright Business Wire 2005
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