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Post by Bart on May 17, 2005 11:22:38 GMT -5
;D ;D
Will be adding to this as the day goes along.
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I don't know if anyone is picking up on this yet, but it seems fairly apparent to me that the SEC is now covertly changing their posture and giving us guidance to ultimately make the MM's totally culpable for the injustice dumped upon CMKX and it's shareholders.They will come out looking like the "goodguys".If the other MM's haven't picked up on what's going down between the behavior of the SEC and Jeff's letter, then they are awfully stupid. I don't believe they are that stupid. Look for others to follow Jeff and try to save themselves. great to see Frizzell on the offensive.
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The SEC can bless the memorialization all they like (on May 9th, BTW) but who's going to prevent both the NSCC and SEC from going to the mat - due to "gross negligence, willful misconduct, or violation of Federal securities laws" - when a HUGE NSS position in a very viable company gets exposed and it becomes evident that those entrusted to "protect the shareholders" have been doing just the opposite?
;D ;D
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Post by Bart on May 17, 2005 11:27:53 GMT -5
;D ;D
This is Posted by: zeninvestor32 Date:5/17/2005 10:56:31 AM
MY BEST GUESS
My best guess as to what is happening.
1. Today was a big piece of information. 326B total are held in cert form. 2. Add to that 300B with the cmkxownersgroup. 3. Note the fact that nearly 50k positions are "unaccounted for" according to their NOBO/OBO list. 4. JEFF has conceded that 111B shares were transacted without being reported/recorded/whatever you want to call it.
IMO cmkx is one of the first companies to step up to the plate with a) a coordinated enough shareholder base that can assist in proving a short position, b) a company that has the money to combat this (although I still don't know where that funding is coming from), c) a company that has the expertise and management (and I mean Maheu, not UC) to combat this, and d) all of the above in a pink sheet that has actual potential through all of its FALC claims.
I think we are seeing the first signs of the company twisting the screws on the dtc and the sec to actually DO SOMETHING about this and force it into a public arena. In opposition to this imo are the hedge funds, the shorts, those individuals within cmkx that may have tried to sabotage the company and quite possibly the dtc/sec (trying to conceal a problem they know exists). Our opponents may still be hoping and holding out for the judge's opinion which could still be revocation. In the mean time, until July 15, the company and Frizzell can continue to put the screws to the opposition through various means, hopefully forcing either the DTC and SEC to turn on each other or somehow forcing a settlement on this issue. Frankly I don't have a clue how this resolves itself if it is clearly shown that a NSS exists. I can't see a cover on the open market working without bankrupting a few market makers that the market needs to function. And I can't see a settlement happening since that would basically "admit" that the sec/dtc have allowed counterfeit shares, causing a chain reaction that would shake the foundation of our market regulation. So, to be honest, I don't know how this resolves itself while getting "swept under the rug". I have always believed that NSS would eventually be resolved by the SEC slowly allowing the hedge funds to change their course. I have believed SHO was sort of a warning shot that the SEC was eventually going to HAVE to resolve this and, over time, their regulations would get more teeth. But I do not think anyone anticipated that a stock like cmkx would emerge that would potentially thrust the whole issue into the spotlight in a way that would be difficult to cover up.
Today's revelation that there are 326B held in cert form, coupled with what appears to be, based on the hearing, an indication that some insiders have not been so friendly to us (and I don't mean Urban), are key points. IMO someone (insiders and the hedge funds they either went through or the hedge funds that just jumped on the bandwagon) made a concerted effort to take cmkx down to either a) make money in the process b) take over all the land claims by driving cmkx into bankruptcy, or c) both. And I believe they are now STUCK. Their strength still rests in some very tricky internal issues that they have created for the company plus some possible assistance imo by either the SEC or DTC in refusing to give up documentation to prove this and obviously pushing forward with a case against cmkx for revocation.
IMO this is indeed the big leagues we're in. Will we win? I have no idea. This is a case of first impression so to speak. I don't think any pink sheet has ever even made it this far. So I have no idea what will be thrown at us next but I expect the fight to continue and continue hard. If there really is a multi-trillion share short out there, this is going to be one huge fireworks display, and not just for July 4th. I think we've got the proof of the NSS that we need, but now it becomes a chess game in terms of how to strategically lure in what we need to win the game. These are all just my opinions. I really don't care whether you believe them or not, nor do I care to respond to anything as inevitably the next time I check my mailbox, it will be full as it always is of naysayer blah blah that we've seen over and over.
This battle could indeed be very long and drawn out, and I don't doubt that those short would prefer it that way. I do believe they remain hopeful of a revocation. And you never do know when a Hail Mary will come through. I think if we stick to our game plan, we'll win. But nothing is ever a guarantee.
Z
As always, these are my personal opinions.
;D ;D
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Post by Bart on May 17, 2005 12:54:46 GMT -5
;D ;D
Msg. 215553 of 215568 (This msg. is a reply to 215550 by gr8hiker.) Jump to msg. # Be damned glad that CMKX is the first out of the gate at this race! We may be the example set to punish the crooks. I see Congress getting into the action soon. WHY?
1. All representatives look for a way to advance their careers using issues just like NSing.
2. I can see a group standing on the steps railing about this injustice upon the American people...."The poor little investor"...."the Robber Baron Hedge Funds OFFSHORE"...."the SECURITY of our system from NS terror" yadda, yadda yadda...... THEY DON'T EVER BRING UP THE SEC, DTCC etal.
3. The NS issue will deflect attention away from all of the damage...YES I SAID DAMAGE... that these regulators have done to the US dollar, jobs, future of SS, fuel shortages, future budgets that can not be sustained etc.
Know the game and be glad that CMKX has a large NS and a HUGE power base in it's 10's of thousands of PRO-ACTIVE shareholders. I have heard that we are going to be the poster child for making the above Gov. Rep.s look like they are heros. So be it!
;D ;D
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Post by IQ on May 17, 2005 13:22:40 GMT -5
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Post by Bart on May 17, 2005 13:48:13 GMT -5
;D ;D
IQ: From all I am reading. That seems to be the thinking. I think the SEC knows that the game is up as far as saying CMKX has not been naked shorted to death. Plus it continues. I think the hearing just made the MM's feel better about doing it. But it is going to back fire big time IMO.
;D ;D
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Post by Bart on May 17, 2005 15:51:24 GMT -5
;D ;D Posted by: zeninvestor32 Date:5/17/2005 3:21:03 PM MY FAVORITE My favorite part of that NSCC rule filing is that they are insulating themselves from liability for WILLFUL MISCONDUCT. LMFAO Hi, my name is the NSCC and I'm a subsidiary of the DTC. I know that we pretty much coordinate all transactions for the entire financial markets but if we at some point intentionally try to screw everyone in the market, or even select groups of people, and we do it with malice aforethought and greedy, selfish motives that have no care or concern for the financial welfare of others, we get a "Free Get Out of Jail Card". Riiiiiiiiiiiight. Toooooooooo funny. Are you kidding me? Limiting liability on willful misconduct? And violations of Federal Securities laws? Who's writing this crap? These guys are a MONOPOLY on the financial markets. There are no other players. And they are trying to write themselves out of liability for WILLFUL MISCONDUCT and FEDERAL SECURITIES LAWS? ? Negligence and gross negligence imo are at least always debatable (and certainly always ARE debated by plaintiff attorneys) but willful misconduct? And actual violations of Federal Securities laws? I must be missing something because it looks like the SEC basically sanctioned the DTC to continue screwing as many people as they would like with only limited liability. The DTC is a complete farce and needs to be toppled asap. Fax in your holdings to Frizzell. The police seem to be as crooked or more crooked than the crooks themselves. Z As always, these are my personal opinions. ;D ;D
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Post by Bart on May 17, 2005 15:55:58 GMT -5
;D ;D
Starlight Citigroup's 90-Day Incorporation
On March 13, 2005 Citigroup incorporated in the state of Nevada for only a 90-day period....It is already May 17th.....so that 90-day "window" will be expiring on June 13th, 2005.....!!! I just can't help but wonder why Citigroup structured this incorporation for such a short time frame and in the state of Nevada where CMKX is incorported....And whatever their plans are.....it should be transpiring in less than one month.....!!!
I also find it curious that on May 9th (the day before our scheduled CMKX hearing with the SEC) that it was reported that Etrade was interested in acquiring Ameritrade who was interested in acquiring TD Waterhouse.....Could it be that Citigroup is hoping to acquire all of the above (perhaps for a "song" since they may all have a serious NSS problem) Citigroup purchased the derivatives division of Knight Trading on Dec. 10, 2004 knowing that they had a huge NSS problem.....Could Etrade/Ameritrade/TD Waterhouse be just around the corner....?? Could this also be another reason why Roger Glenn was involved with CMKX.....to help structure these deals.....since Citigroup is also one of the key clients of Edwards & Angell.....the law firm that RG works for.....
Or could the 90-day incorporation of Citigroup in the state of Nevada possibly be for a tender offer for CMKX..... The timing is very curious to me and please keep in mind that Citigroup has quite a few mining concerns in their portfolio.....
Just food for thought on an otherwise slow day....
;D ;D
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Post by fastwalker on May 17, 2005 16:23:21 GMT -5
Owners group site (new with intro) «http://www.cmkxownersgroup.com/
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Post by fastwalker on May 17, 2005 16:24:17 GMT -5
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Post by goldilocks on May 17, 2005 23:35:21 GMT -5
Hiya I just wanted to point out, that without the internet and the message boards none of this would have come about, stock holders would still be mushrooms in the dark and dumped on. The shareholders of twenty years ago never knew their partners and just read the Corp. BS twice a year,But in this age of instant information we must come as a shock to the old school. ;D ;D ;D ;D ;D
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