CMKM fans clutch dreams on emotional roller coaster
2005-02-11 21:30 ET - Street Wire
Also Street Wire (U-CMKX) CMKM Diamonds Inc
Also Street Wire (U-GEMM) Juina Mining Corp
Also Street Wire (U-USCA) US Canadian Minerals Inc
by Lee M. Webb
CMKM Diamonds Inc., a pink sheet promotion that once provided imaginative shareholders with an abundance of fluffy news releases, has been rather quiet of late, leaving its faithful followers riding an emotional roller coaster as they search for scraps of news to feed their fantasies.
Among the tidbits CMKM's followers recently seized upon was a bit of news involving a related pink sheet promotion, Juina Mining Corp.
Juina, an obscure Nevada-based company, enjoyed a recent rally sparked by a Jan. 27 news release issued by Montreal-headquartered Diagem International Resource Corp. Diagem, which trades on the TSX Venture Exchange (TSX-V), announced plans to begin small-scale diamond mining operations on a remote Brazilian property in which Juina has an interest.
The approximately 900-hectare prospect called Property 1000 is located in the northern part of Mato Grasso in western Brazil.
A Brazilian joint venture entity, Juina Mining Mineracao Ltda. (JMML), holds an 86-per-cent working interest in Property 1000, according to a Nov. 16, 2004, U.S. Securities and Exchange Commission (SEC) filing by U.S. Canadian Minerals Inc.
Diagem has a 51-per-cent interest in JMML and Juina holds the remaining 49-per-cent interest in the joint venture entity.
Just how U.S. Canadian Minerals, currently under investigation by the SEC and now trading on the mighty pinks after being bounced off the OTC Bulletin Board last October, is connected to the play will be examined later in this article.
While Juina did not issue its own release regarding the planned mining operation and the news was not even distributed under Juina's trading symbol, its share price did rally on the Diagem announcement.
Indeed, Juina notched its highest trading volume in more than three months and the stock price nearly doubled on Jan. 27. More than 7.97 million shares valued at approximately $604,000 changing hands as the stock opened at 4.9 cents and ran up to 9.2 cents before ending the day at eight cents. (Amounts are in U.S. dollars unless otherwise noted.)
In more modest TSX-V trading, Diagem climbed a penny and closed at 20 Canadian cents as 317,000 shares valued at $62,000 (Canadian) changed hands on Jan. 27.
It is likely that some, if not much, of the disproportionate trading interest in Juina was generated by the starry-eyed followers of Urban Casavant's CMKM.
Just how CMKM, which has been under a cease trade order issued by the Saskatchewan Financial Services Commission (SFSC) since last October and is widely believed to be under scrutiny from the SEC because of its ties to U.S. Canadian Minerals, fits into the puzzle will also be examined later.
The Brazilian play
According to the Jan. 27 announcement by Diagem, three separate exploration efforts dating back to 1999 are the basis for an indicated resource of one million carats for the 900-hectare Brazilian property.
According to Diagem's chief executive officer, Dr. Mousseau Tremblay, the diamonds on the property "are mostly industrial stones."
As reported by Stockwatch on Feb. 3, Diagem pegs the diamond value at approximately $30 per carat, but hopes that some larger stones will boost that modest value.
As operator of the joint venture, Diagem applied for a mining licence for Property 1000 last December. The approval process will take at least a year and may stretch to more than two years, Dr. Tremblay told Stockwatch in a recent interview.
Meanwhile, Diagem and Juina have come up with a plan to work around an embargo by Brazil's environmental agency that stopped all work on the property in 2002 and hopefully get at least a slice of the property into production later this month.
As disclosed in Diagem's news release, the plan involves carving out a 50-hectare parcel from the property, entering into a 50-50 joint venture arrangement with a small Brazilian mining outfit, Mineradora ECO, and bringing that parcel into production under a small worker mining licence. If successful, that scheme may be used on one or two other parcels.
The plan, if it works out, will allow Diagem and Juina to bring at least a small portion of Property 1000 into production and generate some cash flow while awaiting the mining licence for the rest of the property. The downside is that they must give up a 50-per-cent stake in the carved-out portion operated under the small worker licence.
Mineradora will be responsible for half of the costs, but it will also receive half of the revenues, leaving Diagem and Juina with proportionate shares of the other half of the costs and revenues.
The excitement
The Diagem news met with a ho-hum reaction from Canadian investors, but things were somewhat different south of the border; particularly among enthusiastic Internet followers of CMKM, who keep a close eye on a gaggle of associated pink sheet promotions including Juina. Indeed, many of CMKM's faithful followers were giddy with excitement over the news.
While several Internet stock message boards were soon abuzz with interpretations and wild speculations regarding the Diagem announcement, most of the excitement centred on PalTalk, a site that provides audio and text messaging in virtual rooms that can accommodate as many as 500 people.
PalTalk hosts a number of rooms dominated by discussions of CMKM, including the most active room on the site, Sterling's Classroom, which is regularly filled to its 500-member capacity. Hosted at a cost of $600 per month, Sterling's Classroom is home to many of CMKM's most enthusiastic cult-like followers.
The room's namesake is U.S. Air Force officer Major Sterling Collins, who developed a large Internet following while touting CMKM on Internet message boards before lending his name to the PalTalk room.
In addition to passing on wild and completely unsubstantiated insiderish tips about massive diamond finds, as well as gold, silver and oil deposits and even an imminent cash dividend, Maj. Collins developed some fantastic musings that he passed off as logical speculation and so-called theories.
Among other things, Maj. Collins's peculiar logic led him to expound at great and, for some, mind-numbing length about CMKM's "intrinsic valuation," which he pegged at more than a trillion dollars, a massive short position in excess of a trillion shares and a potential stock price of $16.80 per share.
While it may fall far short of an explanation, the fact that many naive investors evidently lent considerable credence to Maj. Collins's imaginings may provide at least some background for an understanding of why the Jan. 27 Diagem news sparked great excitement among the PalTalk CMKM faithful.
That excitement was not limited to Sterling's Classroom; it was evident in other PalTalk rooms largely devoted to CMKM including Willy Wizard's Underground, which can accommodate 300 members. Willy Wizard is the Internet alias of car salesman, stock tout and former securities violator Harold (Hal) Engel, another CMKM enthusiast.
Mr. Engel, who holds more than 900 million shares of CMKM, has also served up a trillion dollar valuation for the pink sheet promotion and is another proponent of the notion that the company's stock price has been languishing in the range of two-100ths of a U.S. penny because of a massive shorting campaign.
The Diagem news was also enthusiastically hailed in a PalTalk room headed by another CMKM Internet guru known as Dr. Diamonds, whose wide-ranging ramblings are often piped into other PalTalk rooms. The bullish fantasies of Dr. Diamonds are even recorded and distributed hither and yon.
Devoted CMKM followers who congregate in Christian Traders' PalTalk room added their voices to the giddy chorus as the Diagem news was heralded as a significant development.
At least part of the overblown excitement regarding the Diagem announcement may stem from the fact that CMKM's followers have been faced with a dearth of news from the once-chatty pink sheet promotion since the SFSC issued a cease trade order against the company on Oct. 28, 2004. The SEC suspended closely-associated U.S. Canadian Minerals on the same day, effectively turning off another source of news.
While CMKM's Internet followers have a well deserved reputation for making a great deal out of very little, as evidenced by the fantasies woven out of the parade of fluffy news releases issued prior to the SFSC and SEC actions, making a great deal out of absolutely nothing has been more challenging.
CMKM's Internet followers did not shy away from the challenge, but revisiting old so-called theories and developing new fantasies revolving around a supposed "quiet period" in advance of a regulatory filing or momentous news began to wear thin even among the PalTalk faithful.
In an atmosphere of growing frustration and even an occasional expression of doubt about CMKM, the PalTalk faithful seized upon the Diagem news. Amid exultant whoops and hollers, fertile imaginations went to work.
Among other things, CMKM's cultish PalTalk following served up calculations of the value of the indicated resource of one million carats, using an unfounded value of $150 per carat. They also nattered excitedly about revenue flowing to CMKM, again without foundation. There was also a great deal of speculation about the positive impact that the news would have on CMKM's share price.
As it turned out, of course, the Diagem news involving Juina had no impact at all on CMKM's share price.
Nonetheless, CMKM reportedly does have a stake in Juina, as does U.S. Canadian Minerals. A review of various regulatory filings and news releases provides at least a sketch of the intriguing history of Juina, as well the relationships among the three companies.
The beginning
Juina began its corporate existence as Nevada-registered Pacific Entertainment Group Inc. on March 14, 1988, according to the company's last SEC filing submitted on Oct. 1, 1999.
Pacific Entertainment did not last long; the company was "involuntarily dissolved" on Dec. 1, 1989.
On April 3, 1990, Pacific Entertainment was reinstated, changing its name to International Brewing and Manufacturing Inc. in the process. On Dec. 1, 1995, the company was again involuntarily dissolved.
International Brewing was again revived on Nov. 13, 1997. On Dec. 1, 1997, the company executed a reverse stock split on the basis of one new share for every 2,000 old shares. Four days later, International Brewing changed its name to Juina.
On Dec. 12, 1997, Juina acquired privately owned and similarly named Juina Mining Company (JMC) in a share swap in which the private company exchanged all of its six million shares for six million restricted shares of the public company.
The privately owned JMC, headed by Noel Frenzel and James (Jay) McFadden, had been incorporated in Nevada just four months prior to the transaction with Juina.
Mr. Frenzel, who was 35 years old at the time of Juina's last regulatory filing, had spent eight years as the operator of a California towing company and five years as a principal of Industrial Equipment Locators before moving to Reno, Nev., and co-founding JMC.
The 36-year old Mr. McFadden worked as a mortgage officer with a California company before joining Laughlin Associates Inc. of Carson City, Nev., as vice-president of sales "responsible for the implementation of corporate infrastructures for emerging corporations."
With this pool of executive experience, noticeably lacking in anything related to mining or exploration, privately owned JMC executed an asset purchase agreement with a private Brazilian company, Mineracao Juina Mirim Ltda., on Nov. 7, 1997.
Under the terms of the agreement inked just a month before JMC was folded into Juina, JMC acquired a 70-per-cent working interest in Property 1000 from Mineracao Juina in exchange for 4.5 million shares. Those 4.5 million shares were exchanged for an equal number of restricted shares of Juina when the public company acquired JMC and its 70-per-cent stake in Property 1000 on Dec. 12, 1997.
Following the paper shuffle, Mr. Frenzel took on the roles of president, secretary and treasurer of Juina. Mr. McFadden rounded out the company's rather short list of officers and directors, joining Mr. Frenzel as a director. Together, they headed a company with 1,600 listed shareholders and approximately 16.4 million shares outstanding as at Sept. 24, 1999.
Evidently virtually penniless Juina had high hopes for the property it acquired in the cashless double-shuffle.
According to the Oct. 1, 1999, SEC filing, the company anticipated recovering 4.55 million carats valued at $90.6-million and sponging up more than $40-million in retained earnings in the first five years. Juina's 20-year projections envisioned the recovery of 22.55 million carats valued at $451-million and retained earnings of more than $227-million.
Alas, that was the company's last regulatory filing, leaving a considerable gap with respect to information regarding the company's operations, financial condition, share structure and so on.
At least some of that gap can be filled with snippets gleaned from archived news releases and from regulatory filings by other companies that have had dealings with Juina during the intervening years.
Filling the gap
On Oct. 28, 1999, four weeks after Juina made its last and, apart from one Regulation D Exemption paper report, only SEC filing, the company issued a news release announcing the "resignation of its officers." In other words, the multi-tasking Mr. Frenzel had bailed, leaving the company without a president, secretary or treasurer.
According to the news release, information regarding new officers would be released when it became available, but almost a year passed before the company issued another news release, and that announcement did not contain any information regarding new company officers.
On Sept. 28, 2000, a full 11 months after bidding adieu to Mr. Frenzel, Juina issued its next news release. The company announced that it had signed a deal memorandum with Montreal-based Seed Capital Inc. outlining a financing for a joint venture on Property 1000.
According to that announcement, which listed Mr. McFadden as the contact person and was issued from a "temporary corporate address" in Minden, Nev., Juina expected the formal joint venture agreement would be inked by Oct. 21, 2000.
Oddly, the next news involving a joint venture on Property 1000 did not come from Juina; nor did it contain any mention of Seed Capital.
On Oct. 24, 2000, Emerging Africa Gold Inc., headed by Dr. Tremblay, announced that it had entered into a joint venture agreement with Juina. By this time, Juina's working interest in the property had apparently increased from 70 per cent to 86 per cent, though it is not clear just how that came about.
In any event, Emerging Africa reported acquiring a 51-per-cent stake in the Brazilian project in exchange for $500,000. On Nov. 21, 2000, Emerging Africa announced that the joint venture agreement had been finalized.
(For those whose scorecards may be getting a bit muddled, Emerging Africa merged with Diagem in May of 2002.)
On Dec. 14, 2000, Juina finally got around to telling its shareholders about the deal. That news release, which again listed Mr. McFadden as the contact person and was issued from the company's new corporate address in his hometown of Gardnerville, Nev., also disclosed the appointment of two new board members. Dr. Mark Hutchison, a geologist, and Richard Taulli had been appointed directors.
Dr. Hutchison, Mr. Taulli and Mr. McFadden would subsequently emerge as key figures in a rather belatedly reported transaction involving Juina.
Digressing a bit further, in his capacity as a consulting geologist for CMKM, Dr. Hutchison's speculative musings during a Feb. 21, 2003, interview with stock tout Tom Allinder of HotStockChat.com provided fodder for the imaginative followers of Mr. Casavant's pink sheet promotion.
During the course of the interview, Dr. Hutchison was asked for his thoughts on Internet reports that De Beers's diamond prospect in the Fort a La Corne area of Saskatchewan might host a mine worth as much as $60-billion. While a more timid geologist might have backed away from such speculation, Dr. Hutchison jumped right in. Offering a few caveats, he agreed that it was possible.
Interestingly, while the source of the Internet reports that prompted Mr. Allinder's question was not disclosed, Mr. Casavant had floated a similar tale in a Nov. 27, 2002, news release announcing CMKM's acquisition of 1.9 million acres of mineral claims in the Fort a la Corne area.
"Our mining claims surround the approximate 58,000 acres of Kensington and De Beers," Mr. Casavant remarked, adding that De Beers had recently been taken private at a cost of more than $17-billion.
"It is a well known rumor in the area that De Beers (sic) tremendous expense of both time and money to go back private is a solid indication of the tremendous diamond wealth of the Fort a la Corne diamondnifrous (sic) kimberlites," Mr. Casavant continued.
"We have not assessed the 'Real Value' of the 1.9 million acres currently under our control," the news release went on. "It is also believed that De Beers may have mines on there (sic) smaller parcel valued as much as $40 Billion USD to $80 Billion USD.
"Although there are no guarantees that the companies (sic) mineral yields will produce any such amounts -- the likelihood definitely exists."
While even marginally more experienced investors might have discounted CMKM's news release as promotional puffery and paid considerably more attention to the qualifications Dr. Hutchison attached to his speculative musings, many of CMKM's starry-eyed followers took a different approach.
If De Beers's stake in a measly 58,000 acres was worth at least $40-billion, a figure they took as having been corroborated by Dr. Hutchison, they reasoned that it was an easy matter to come up with a "conservative" valuation for CMKM: simply divide 1.9 million acres by 58,000 acres and multiply the result by $40-billion. That, in a nutshell, is the basis for the belief by many that CMKM is worth more than a trillion dollars.
Returning to a review of Juina's patchy history, the company only issued one news release during 2001. On Feb. 8, 2001, the company announced that work had started on the Brazilian property.
On March 23, 2001, Juina was briefly mentioned in a news release by tout service Emerging Company Report. According to that brief mention, Mr. McFadden, identified as Juina's chief executive officer, had "announced technology which can convert brown diamonds to white."
Unfortunately, whatever Mr. McFadden had to say about converting brown diamonds into white diamonds during his Emerging Company "interview" seems to have disappeared into the dustbin of promotional history.
Juina provided scant news the following year, too. Juina's only news release of 2002 was issued on May 9, 2002, when the company announced the "major milestone" of receiving a six-month permit to conduct bulk sampling and test mining on Property 1000.
A little more information regarding Juina can be teased out of Diagem's annual report for the year ending June 30, 2002, which was filed with Canadian regulators on Nov. 4, 2002.
According to the notes to Diagem's audited financial statements, Juina had defaulted on a $100,000 contribution to the Property 1000 joint venture. Juina had until Nov. 29, 2002, to repay the contribution advanced by Diagem or have its interest in the joint venture diluted.
It is not clear whether Juina ever anted up the cash, but the company's 49-per-cent stake in the Property 1000 joint venture remains intact. In any event, Diagem's annual reports for 2003 and 2004 disclose an "excess contribution" of $98,000 to the joint venture that, under the terms of an amended agreement, may be converted to 1.8 million shares of Juina.
Meanwhile, as disclosed in a Dec. 4, 2002, news release issued by CMKM, then operating as Casavant Mining Kimberlite International Inc., cash-strapped Juina was being wooed by Mr. Casavant's penniless promotion.
According to Mr. Casavant's Dec. 4, 2002, announcement, CMKM had entered into a letter of intent to acquire Juina in a share swap.
"The transaction will be based on an exchange of shares at the closing prices of the two companies effective December 3, 2002 on a multiple formula to be determined," the news release vaguely reported.
The proposed acquisition and merger with Juina was also disclosed in an SEC filing by CMKM on Feb. 3, 2003. While that filing was short on specific details regarding the deal, which reportedly was still being hammered out, it did offer a few more snippets involving Juina.
According to CMKM's SEC filing, several people involved with Juina would be taking on roles with CMKM upon completion of the deal. Mr. McFadden would become CMKM's chief executive officer and vice-chairman, Mr. Taulli would serve as the company's corporate secretary and Dr. Hutchison would become a director.
Interestingly, the biographical information regarding Dr. Hutchison of HotStockChat.com speculative musing fame reported that he had worked closely with Juina since 1999 "on issues of funding, 'prospectivity' and marketing of Juina's diamonds."
David Bending, identified as the president of Juina in a Dec. 31, 2002, news release issued by CMKM, was also slated to join the company as president and chief operating officer once the acquisition was finalized.
Alas, the deal never materialized. On March 31, 2003, CMKM announced that it had terminated the negotiations with Juina.
On April 1, 2003, Juina, which had not even previously acknowledged the pending deal in a news release, issued much the same announcement, adding that it had started negotiations with another public company.
Investors learned the identity of Juina's new suitor a few weeks later.
On April 23, 2003, Juina announced that it had signed a letter of intent to be acquired by Oretech Inc., which had just executed a reverse takeover of Tantivy Group Inc. on March 31, 2003.
Interestingly, a series of news releases issued by Tantivy during its makeover into Oretech identified Mr. Taulli as its contact person.
Also of interest, an April 8, 2003, SEC filing by Oretech identified Mr. Taulli as the company's corporate secretary. According to the biographical information in that filing, Mr. Taulli was a former officer and director of Juina.
Oretech's acquisition of Juina was supposed to close on April 25, 2003. Alas, that deal never materialized either, though neither company bothered to inform shareholders of the fact that it had collapsed.
It would be almost a year before Juina issued another news release.
On March 7, 2004, Juina announced that it had signed a letter of intent with U.S. Canadian Minerals whereby that company would acquire a controlling interest in Juina. The formal agreement was reportedly inked on March 29, 2004.
Some of the details of the deal can be teased out of SEC filings by U.S. Canadian Minerals, a virtually penniless company with close ties to CMKM.
According to the annual report of U.S. Canadian Minerals filed on April 19, 2004, the company originally entered into a letter of intent on Feb. 23, 2004, to acquire all of the capital stock of Juina in a share swap.
Under the Feb. 23, 2004, letter of intent, U.S. Canadian Minerals was to issue approximately 1.6 million shares valued at $4.9-million in exchange for all of Juina's shares. Evidently that proposal underwent some revisions.
Indeed, a quarterly report filed by U.S. Canadian Minerals on May 21, 2004, tells a remarkably different story about the deal. Among other things, the revised account makes no mention of a share swap to acquire all of the capital stock of Juina.
According to the revised version, the Feb. 23, 2004, letter of intent called for U.S. Canadian Minerals to acquire majority voting interest in Juina for $200,000.
The companies subsequently entered into a definitive agreement in which U.S. Canadian would purchase 10 million preferred shares of Juina, with an 8-to-1 voting conversion rate, for $100,000 in cash and a $100,000 promissory note. Under a subsequent amendment, U.S. Canadian Minerals agreed to a payment of $116,000 cash and an $84,000 promissory note due May 24, 2004.
In the wake of that filing, U.S. Canadian Minerals reported that Mr. Taulli, apparently an individual in high demand, had been appointed treasurer of the company.
A May 27, 2004, filing by U.S. Canadian Minerals fleshed out a few more details regarding the deal with Juina.
Interestingly, that filing disclosed that Juina directed that $50,000 of the initial $100,000 payment made by U.S. Canadian Minerals be paid directly to Excelsior Management for services rendered. While not disclosed in that filing, Mr. Taulli served as Excelsior's chief operating officer.
A few more details regarding the transaction with Juina emerged when U.S. Canadian Minerals filed its next quarterly report on Aug. 23, 2004. Perhaps particularly intriguing in that filing is the disclosure that U.S. Canadian Minerals converted its 10 million preferred Juina shares into a mere 1.25 million common shares of the company.
That, however, was far from the end of the story. The most recent installment was served up when U.S. Canadian Minerals filed its third-quarter report on Nov. 16, 2004. That filing was submitted approximately three weeks after the SEC suspended U.S. Canadian Minerals.
While the Nov. 16, 2004, filing includes an account of the acquisition of controlling voting interest in Juina on March 28, 2004, for $200,000 and the subsequent conversion of the 10 million preferred shares of Juina into 1.25 million common shares, a further puzzling transaction is disclosed deeper into the filing.
According to the latest disclosure, U.S. Canadian Minerals acquired 85 per cent of the capital stock of Juina on March 23, 2004. The stock was reportedly acquired from Mr. McFadden, Dr. Hutchison and Mr. Taulli in exchange for 833,334 shares, 179,091 shares and 150,000 shares respectively of U.S. Canadian Minerals and a $200,000 private placement.
Among other things, that deal reportedly included an understanding that Dr. Hutchison would join the board of directors of U.S. Canadian Minerals, though that understanding does not appear to have been realized.
The deal also provided U.S. Canadian Minerals with the option to repurchase its swapped shares at a price of $1.33 per share.
If that remarkably belated disclosure is accurate, the most recent revelation regarding the Juina deal raises a number of questions.
For example, it is not at all clear why U.S. Canadian Minerals bothered messing around with the peculiar March 28, 2004, preferred share transaction when it reportedly already held 85 per cent of Juina's capital stock as of March 23, 2004.
The deal also invites the question of just how many Juina shares U.S. Canadian Minerals acquired from Mr. McFadden, Dr. Hutchison and Mr. Taulli.
A related intriguing question turns on just how those three individuals managed to scoop up such a staggering percentage of the capital stock of a company that five years earlier boasted 1,600 listed shareholders.
Whether these and other questions related to the deal will ever been answered remains to be seen.
Meanwhile, between revised accounts of the deal between Juina and U.S. Canadian Minerals, CMKM re-entered the picture.
On July 29, 2004, CMKM announced that it had purchased 25 per cent of the outstanding shares of Juina for $500,000 and had an option to purchase another 24 per cent of Juina's shares for an additional $500,000.
In a subsequent news release, CMKM thoughtfully converted the percentages into share totals, reporting that the purchase and the option involved 95.5 million shares and 127.3 million shares of Juina respectively.
The company also announced that it planned to distribute the Juina shares to CMKM shareholders in a dividended-in-specie distribution, setting Oct. 1, 2004, as the record and distribution date.
The distribution of the first 95.5 million Juina shares acquired by CMKM was significantly delayed, but shareholders began receiving the dividend-in-specie restricted shares toward the middle of last December.
In the meantime, CMKM reportedly exercised its option to acquire the addition 127.3 million shares of Juina for a further $500,000 on Oct. 16, 2004.
In a news release issued on the same day, CMKM set Nov. 30, 2004, as the dividend distribution date for those shares. That dividend-in-specie distribution of restricted shares has not yet materialized.
CMKM's faithful Internet followers are still mulling over the delay in the second distribution of Juina shares. A popular "theory" among the company's cultish followers is that the anticipated dividend is somehow an integral part of the "master plan" that will eventually reveal a massive short position in CMKM. Evidently the time is not quite ripe to unveil that plan.
While CMKM's Internet followers rarely brook any criticism of the company, many were clearly disappointed that the Juina-related news had no impact on CMKM's share price.
That disappointment, however, has been replaced with renewed excitement over a recent flurry of news releases from the company.
On Jan. 31, CMKM announced the appointment of Robert Maheu, an 87-year old ex-spook and former adviser to Howard Hughes, to the board of directors.
On Feb. 8, the company announced that a much younger Michael Williams, who boasts some experience with rapper Snoop Doggy Dog, had also joined the board of directors.
On Feb. 11, CMKM issued another news release, this one a fairly brief statement of a corporate strategy plan.
"We intend to structure the company for a move to the Over-the-Counter Bulletin Board or an exchange," Mr. Casavant remarked in closing out the update.
Given that CMKM had a whopping 779 billion shares outstanding last fall, any structuring in advance of a move to the OTC-BB, let alone an exchange, will likely involve a massive share consolidation.
Stockwatch will examine some of the recent developments including the appointment of Mr. Maheu and CMKM's new corporate strategy in future articles.
Meanwhile, CMKM closed out another trading session at two-100ths of a penny, with 1.99 billion shares changing hands on Feb. 11.
The saga continues.
Comments regarding this article may be sent to lwebb@stockwatch.com.
(More information regarding CMKM Diamonds and associated companies can be found in Stockwatch articles dated Oct. 21, 2003; June 22; Sept. 16 and 24; and Oct. 1, 15 and 20, 2004.)
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Reader Comments - Comments are open and unmoderated, although libelous remarks may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
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GO GET A REAL JOB.LOSER
Posted by CMKX LONG SHAREHOLDER @ 2005-02-11 22:02
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Webb your going to look funny with Maheu's boot up your ass.
Posted by diamondbill @ 2005-02-11 22:37
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I'm glad you know the oustanding shares for cmkx is 779 billion, because I as a shareholder only know that the company has 800 billion AUTHORIZED - NO ONE KNOWS THE OUTSTANDING SHARES. Most of your article regarding the shareholders of CMKX is ripe with sarcasim, you should be so lucky to have 72,000 (number of cmkx shareholders) people subscribe to your rag of a newsletter. As for Willy Wizard (Hal Engle) you just had to point out he was under securities investigation. It is my understanding that you did prison time for securities fraud, is that true? What exactly is your agenda?
Posted by dusty2148 @ 2005-02-11 22:52
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IF YOUR LIFESTYLE IS AS ENCOURAGING AS YOUR COMMENTARY, MR. WEBB, YOU MUST BE A PRETTY BORING GUY. WATCH WHEN CMKM DIAMONDS BLASTS OFF, AND LEAVE BASHERS LIKE YOU IN THE DUST!
Posted by A DEDICATED CMKX SHAREHOLDER @ 2005-02-11 22:57
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This happens to be one of the downfalls of freedom of speech. This article has a "slight" negative tone. Which doesn't surprise me because I have never seen an article written by this author with a positive slant. I feel sorry that your life has taken you to this level of negativity. May the glass always be half full!
Posted by jorge @ 2005-02-11 23:14
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FORMER SPOOK????????????
HMMM... MAYBE ONE DAY WHILE BORED.. THE "FORMER SPOOK" MAHUE WILL MAKE LEE WEBB DISAPPEAR??? WOULDN'T THAT BE SOMETHING?
Posted by A FORMER SPOOK @ 2005-02-11 23:18
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Do you consider yourself a journalist? Why on earth would you consistantly bring up opinions of individual shareholders and dwell on them. You seem to waste an awfull lot of time worrying what a couple specific shareholders think. These people you often refer to are not affiliated with CMKM Diamonds other than being shareholders.
Your obvious bias toward this company is shown when you spew your one sided opinions. I personally am interested in both positvie and negative developments with this company. You seem to only see the negative. Some 'journalist' you are.
Posted by nicraage @ 2005-02-11 23:36
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I do not understand why you spend so much time and energy researching and bashing a pink sheet company that trades next to nothing. If you did one article and moved on I could understand but to continuosly attack this one stock over and over makes me wonder what your real motive is.
Posted by ironman1959 @ 2005-02-11 23:39
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Unbelievably brain washed posters here. Bring out the purple punch folks, we can get the CMKX investors to do a Jonestown!
From CMKX's own words! "CMKX's actual results could differ materially from such forward-looking statements because of factors such as: uncertain regulatory scrutiny(ya, they may have to open their books!); the current state of operations; unavailability of documentation(opps, the shredder ate my financials!); inability to engage advisors, professionals and/or executive management; unforeseen capital deficiencies (crap sorry suckers, we spent all your money on funny cars and Vegas parties!); unavailability of insurance; uninsured losses; adverse results in litigation;(darn, didn't make enough money by trying to sue anyone that posts the truth!) unanticipated tax liabilities; changes in the mining and metals environment,(environment's great, perhaps you have to mine something first?!)including actions of competitors;(my GOD, who'd want to compete with CMKX? Bre-X?)the effectiveness of CMKX's development and drilling programs;(Ummm, excuse me? Program(s) is there even A program?)regulatory and legal changes;(Darn, busted again! That's okay, we'll come up with another new mothballed company to flip into!) 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.(Yup, we spent your money on Jade wine glasses, but aren't going to tell you, why, because we just told you we won't!)
Or, how about ALL of the ABOVE!
Saddest part is all those investors dollars being wasted that could go into a company that would really do something useful for everyone on the planet, instead of just a few partying, wannabe race car enthusiasts!
Lee, glad to see that there are still people out there that can't be scared to tell the truth. You have my admiration!
Comments above are just my personal opinions and thoughts to try and entertain and lighten the mood of the Jonestown investors.
Posted by Valentine's Day Pact for CMKX shareholders @ 2005-02-11 23:51
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Good grief; surely the "stock play of a lifetime," not to mention a promotion with the largest number of outstanding shares on the planet, warrants at least one interested scribbler.
Lee
Posted by Lee Webb @ 2005-02-11 23:53
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What's your point??????? LOL
Do you feel yourself slowly becoming "addicted"??
Otherwise, why so much attention to a two-hundreths of a cent stock? We can tell, you know! You've been bitten by the CMKX-bug, and can't get away. Welcome aboard ;)
Posted by beaches777 @ 2005-02-12 00:20
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I Challenge Mr. Lee Webb or Stockpatrol.com to put up or shut up.
I, CDLIC, challenge you, Mr. Lee Webb of Stockpartol.com, to put up or shut up! I challenge you to go at FULL RISK for your negative reporting of CMKM as a company and CMKX as a stock, and put your “money where your mouth is (and your writing).”
In my opinion, if you want to attack CMKM, and believe CMKM to be such a bad investment, then accept my challenge. Therefore, I propose the following challenge:
(1) you deposit a minimum of $10,000 for 1 year with my predetermined independent third party, i.e., bank trust department, attorney, etc.
(2) You provide proof that you have shorted at least 100 Million shares of CMKX stock. Why, because if you are so sure that CMKX is a bad investment on the long side, why would you not hold a short position, after all, any smart individual believing as you do regarding CMKM, can make an easy killing on such a short investment. Therefore, by owing CMKM stock short, you are putting your money where your mouth is. If you are not short in the stock, then buy it to prove you are not a hypocrite.
(3) I will deposit money at a ratio of 1:10 (minimum deposit by me of $1,000.00) for 1 year with the same predetermined independent third party. [Note: Why the 1:10 ratio?...because according to the Economic and Financial Analysis Branch of the Minerals and Metals Sector of Natural Resources Canada, in the published report titled "Canada's Global Position in Mining", May 7, 1997, it is stated that “Only 1 in 1,000 exploration efforts results in a mine,” therefore, in all fairness, the ratio should be 1:1000, however, I will go easy on you Mr. Webb, and make it 1:10 rather than 1:1000]. This should be a very easy gain for you since you are so sure that CMKM is a poor investment.
(4) I will provide proof that I have am long at least 100 Million shares of CMKX stock. Why, because if I am so sure that CMKX is a good investment, why would I not be long in it. I am putting my money where my mouth is.
(5) At the end of 1 year (from the date each of our money has been deposited and your position of 100 Million shorted shares of CMKX and my position of 100 Million long CMKX shares being verified by an independent party as actually held in each of our names), if CMKM’s daily stock price (averaged over the previous ten business days from the one year date) is greater than .0001 on the bid and .0002 on the ask, then you will forfeit the money you have placed with the independent third party; however, if CMKM’s daily stock price (averaged over the previous ten business days from the 1 year date) is less than .0001 on the bid and .0002 on the ask, I will forfeit the money I have placed with the independent party.
So there you have it. Mr. Webb, come and get your easy money if you REALLY consider that CMKM is a scam, fraud, swindle or a bad investment. This is easy money for you. Do you accept my challenge?
To accept my challenge, post your acceptance on ProBoard32 with the title: CDLIC, I Accept Your Challenge. ProBoard32 address is cmkxdiamond.proboards32.com
Very truly,
CDLIC
PS. Mr. Webb, if for any reason, because of your seedy past, you are not allowed to short a stock about which your are reporting, then forget the 100 million shares and just take the challenge.
Posted by Proboards32 @ 2005-02-12 00:39
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Mr. Webb...what is it with you...your obsession with CMKX while somewhat disconcerting for the investors points to a much bigger issue...
If I were you I would concentrate more on figuring out just how you're going to raise yours and Janet Shell's demon baby...
That to me should be your prime focus..maybe your sister Carol remond can help you out on weekends.
Good Luck!..Soon you will be relegated to picking up garbage which in my opinion is far more honourable then writing garbage...
You disgust me.
Maynard G Krebs.
Posted by Maynard G Krebs @ 2005-02-12 00:39
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Lee, may I?
Posters ask what is the concern about a micro-cent stock?
That microcent 'shell' stock ate up $400,000 'real' dollars today in trading. That is money going right into the pockets of the scam organizers and the friends and cohorts that perpetrate this fantasy, in my opinion.
Jonestown is right! Maybe Haley's Comet too! Purple robes all around for the CMKX 'faithful' cult followers.
This line says it all; "...CMKM, which has been under a cease trade order issued by the Saskatchewan Financial Services Commission (SFSC) since last October and is widely believed to be under scrutiny from the SEC because of its ties to U.S. Canadian Minerals..." That says it all folks. Open your eyes to the scams played on naive uneducated and inexperienced investors, sucking their friends, family, and other inexperienced and financially uneducated people into this black hole money pit shell.
How can anyone possibly think that a company making, at best, questionable claims, that is under investigation is just the victim of some global conspiracy? Or would that be interplanetary conspiracy, since some claims seem 'out-of-this-world!' LOL! Sorry, someone had to say it!
Perhaps if people are bottom fishing for a 'cheap' diamond stock to invest in, with tons of potential, perhaps they should check out Tahera, the first totally Canadian owned diamond mine that just announced construction starting in Nunavut, Canada, today.
The comments above too, are just intended as the entertaining personal opinions and thoughts of an investor who has seen many, many a poor victim get sucked into throwing away their retirement money for someone else's lavish lifestyle.
Posted by Concern about a micro-cent stock @ 2005-02-12 00:49
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To: "Concern about a micro-cent stock"
Who knows... you may be right.
But I'll take the gamble on the upside.
If you win... what do you get? 0
But if I win.... For a couple of hundred bucks what do I get?
lololololololololololol
Posted by Betting Man @ 2005-02-12 00:54
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Way to go Lee. Exposing frauds and lunatics is a risky business - more power to you. Cheers, Shaun Spelliscy
Posted by Shaun Spelliscy @ 2005-02-12 02:16
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Mr.Webb,
While your penmanship leaves many without a word in their cheek. I may add that I am not one of the individuals so easily swayed by your wit and sarcastic remarks. It would serve you well to investigate further the companies you so eloquently bash with your pen. One has to wonder what your true motives are and how much you may be paid for your sharp sword.
I am certain that the companies involved in your crusade are flattered to have a person of such talent, focusing on their endeavors to ensure that we poor innocent shareholders are protected from such an insignificant diamond exploration company. I realize your time is valuable and I won't belabor my points, such as you have seen fit. It will take much more than your arrogance to steal my faith in the well meaning people of CMKM and their affiliates. Get a grip and get with the program!
I remain, A Loyal Shareholder Your Friendly neighborhood Spiderman
Posted by spiderman1959 @ 2005-02-12 03:00
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I am just curious to find out if Lee Webb will take up CDLIC on his challenge.
Z
Posted by da Zee @ 2005-02-12 03:03
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lee webb pls. learn the diffence between o/s and a/s ...you are as dumb as you sound
Posted by no name @ 2005-02-12 03:06
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CDLIC's Revised Challenge
I Challenge Mr. Lee Webb or Stockpatrol.com to put up or shut up.
I, CDLIC, challenge you, Mr. Lee Webb of Stockpartol.com, to put up or shut up! I challenge you to go at FULL RISK for your negative reporting of CMKM as a company and CMKX as a stock, and put your “money where your mouth is (and your writing).”
In my opinion, if you want to attack CMKM, and believe CMKM to be such a bad investment, then accept my challenge. Therefore, I propose the following challenge:
(1) you deposit $10,000 for 1 year with my predetermined independent third party, i.e., bank trust department, attorney, etc.
(2) I will deposit money at a ratio of 1:10 ( deposit by me of $1,000.00) for 1 year with the same predetermined independent third party. [Note: Why the 1:10 ratio?...because according to the Economic and Financial Analysis Branch of the Minerals and Metals Sector of Natural Resources Canada, in the published report titled "Canada's Global Position in Mining", May 7, 1997, it is stated that “Only 1 in 1,000 exploration efforts results in a mine,” therefore, in all fairness, the ratio should be 1:1000, however, I will go easy on you Mr. Webb, and make it 1:10 rather than 1:1000]. This should be a very easy gain for you since you are so sure that CMKM is a poor investment.
(3) At the end of 1 year (from the date each of our money has been deposited, if CMKM’s daily stock price (averaged over the previous ten business days from the one year date) is .0003 or greater on the ask, then you will forfeit the money you have placed with the independent third party; however, if CMKM’s daily stock price (averaged over the previous ten business days from the 1 year date) is equal or less than .0002 on the ask , I will forfeit the money I have placed with the independent party.
So there you have it. Mr. Webb, come and get your easy money if you REALLY consider that CMKM is a scam, fraud, swindle or a bad investment. This is easy money for you. Do you accept my challenge?
To accept my challenge, post your acceptance on ProBoard32 with the title: CDLIC, I Accept Your Challenge. ProBoard32 address is cmkxdiamond.proboards32.com
Very truly,
CDLIC
Posted by Thomas P. @ 2005-02-12 03:27
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O/S is not A/S. Do you know the O/S Lee? Would you share that info with us? Do you know the float Lee? Please share that too.
Do you know why people like Roger Glenn and Robert Maheu would waste their time and spoil their hard earned reputation with a scam pinksheet? Please explain that Lee.
Do you know the history of DeBeers Lee? Did they only do deals with other companies as long as everyone was a perfect stranger with no previous ties? Did they rush out and report every detail of their operations for all to see before success was assured? Would that have been prudent Lee?
CMKX is a risk. But tell me, if (yes if) CMKX comes out and reports a healthy share structure, joint venture profits, and most importantly a commercially viable diamond find, at what PPS will you be able to buy in? I look forward to selling you my shares Lee.
Sleep well :)
P.S. The trillion dollar valuation thing is hogwash and only believed by those few people you mentioned and a handfull of others. The company has not made such claims so it is rather surprising that you dwell on it.
Posted by gdh @ 2005-02-12 03:30
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"Way to go Lee. Exposing frauds and lunatics is a risky business - more power to you. Cheers, Shaun Spelliscy"
Shaun, assuming you are who you say, If CMKX is a fraud, why did you spend all that money waiting in line to claim the Carolyn pipe if it was a bust? Or did you just take United Carina's money and run? And what about the sale, and the lawsuit against you? What was that about lunatics and frauds?
Posted by gdh @ 2005-02-12 03:41
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Careful Lee. You don't want Stockwatch going back to court yet again. I hear the judge is getting rather fond of you already. But then, I also hear you don't mind.
Posted by UnderCover @ 2005-02-12 03:45
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Lee Webb, Remember last time I posted a response to your last bash of USCA? Another filing coming down the pipe. Last time I told you, you would cry, ha, I heard you were crying on IHUB shortly after USCAs last quarterly report. Well, this time I recomend staying away from guns and sharp objects....or get right with GOD.
Your mama said you wouldn't amount to anything and she was right. lol@U
Posted by tendollarscoming @ 2005-02-12 08:03
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Bravo!! Bravo!!! Lee Webb!!!! I hope and pray that at the end of the day UC/Maheu get as aggressive as Charles A. Ager and bi tch slaps you and Canjex Publishing Ltd. dba Canada Stockwatch, just like AGER did to John Woods and Brent Mudry and Canjex Publishing Ltd. dba Canada Stockwatch. I also hope that in the last 13 months the courts have realised that penalities are not enough and they add some jail term for libel and slander.
courts.gov.bc.ca
May justice be served to the full extent of the law.
Posted by You don't want to know @ 2005-02-12 08:30
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Lee- I want to thank you for all the free publicity regrading CMKX. It is obvious from the reponses to your diatribe against CMKX that most thinking people can see that your opposition to the obvious advancement of this young company belies a hidden agenda. When the collective voices of the bashing community grow increasingly shrill it is most often a sign that the company involved will experince a positive turn around in the near future. Now personally I am always looking at a "worst case" scenario. In this case, IF the OS is 779 billion as you claim (oops, you don't REALLY know that for a fact do you?) then let's multiply that figure by the current Ask price of .0002. The result is 155.8 million. Now then, would a thinking person who has looked at the Fort a la Corne geology and the valuation of DeBeers' 58,000 acres ($10 billion+) consider CMKX's 1.9 million acres surrounding the 58,000 to be worth AT LEAST as much as DeBeers' claims? The answer is yes. That is why I am invested in CMKX, along with the obviously huge naked short position which must eventually be reconciled. So my motivation is plainly visible... what is YOUR motivation Mr. Webb?
Posted by Koiman6 @ 2005-02-12 11:42
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I also wonder, Mr. Webb, if Robert Maheu, who was Howard Hughes' right hand man, might just perhaps know just a tad more about the potential of this company than you, a journalist. So who do I place my confidence in, Robert Maheu or Lee Webb? Such tough decisions...lol
Posted by Koiman6 @ 2005-02-12 11:58
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I also wonder, Mr. Webb, if Robert Maheu, who was Howard Hughes' right hand man, might just perhaps know just a tad more about the potential of this company than you, a journalist. So who do I place my confidence in, Robert Maheu or Lee Webb? Such tough decisions...lol
Posted by Koiman6 @ 2005-02-12 12:07
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well ..... the cmkx starry eyed naifs are at it again, hoping beyond hope. Firstly, Lee for Lee Webb could be either male of female. There was a note from Lee Webb sometime back that Lee's "life partner" once owned CMKX. So either Lee is female, or gay (not that there is anything wrong with that - sorry Seinfeld).
The CMKX cult followers continue to live in fantasy land. With the SEC apparantly investigating 100 Bank Accounts and the movement of 64 Million dollars (your money man - Ubie thanx you), and CMKX having NOT filed a single document in 2 years, the SEC will likely pull the plug within days.
The 14c report, the last cmkx disclosure, reported having just over 7B shares. The dividend payment to cmkx shareholder PROVES BEYOND DOUBT, that they 779 Billion Outstanding last fall. Likely more now, gasoline costs for the hummer.
Watching fools living in fantasy land is truly fascinating. Reporting on it must be even more fun. I am surprised more haven't joined the party ..... whoops they have .... we now have Carol Remond of the Wall street Journal, Stock Patrol, Stockwatch, and now the local newspaper in Las Vegas!! Who will join the party next?
To da moon!!!!!!
Posted by Dubsy3 @ 2005-02-12 12:38
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I am a share holder of CMKX, I personnaly think that CMKX should be investigated by the appropriate authority. As I sincerely beleive it is a large SCAM
Posted by Serge @ 2005-02-12 13:14
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gdh
"Shaun, assuming you are who you say, If CMKX is a fraud, why did you spend all that money waiting in line to claim the Carolyn pipe if it was a bust?"
Do you think there was only one pipe on those seven claims?
"And what about the sale, and the lawsuit against you?"
What about the misleading press release from UCA February 8, 2005, stating:
"In addition, the companies have registered notices of dispute on each of the seven claims with the Saskatchewan Industry and Resources so as to preclude transfer of the claims prior to resolution of the companies' claim."
and the subsequent transfer of four of the seven claims two days later.
"SASKATCHEWAN INDUSTRY AND RESOURCES TRANSFER OF MINERAL DISPOSITION UNDER THE MINERAL DISPOSITION REGULATIONS, 1986
The undersigned does hereby assign and transfer One Hundred (100%) Percent interest in mineral disposition number(s):
"S-137714","ACTIVE","SEAGROVE CAPITAL CORPORATION 100%","THE NORTHEAST QUARTER OF SECTION 7 AND THE EAST HALF OF SECTION 18, TOWNSHIP 53, RANGE 19, WEST OF THE SECOND MERIDIAN;",192,"73-H-10","Nov 1, 2004"," ","S"
"S-137715","ACTIVE","SEAGROVE CAPITAL CORPORATION 100%","ALL OF SECTION 8 AND THE WEST HALF OF SECTION 9, TOWNSHIP 53, RANGE 19, WEST OF THE SECOND MERIDIAN;",384,"73-H-10","Nov 1, 2004"," ","S"
"S-137716","ACTIVE","SEAGROVE CAPITAL CORPORATION 100%","THE WEST HALF OF SECTION 16 AND ALL OF SECTION 17, TOWNSHIP 53, RANGE 19, WEST OF THE SECOND MERIDIAN;",384,"73-H-10","Nov 1, 2004"," ","S"
"S-137717","ACTIVE","SEAGROVE CAPITAL CORPORATION 100%","THE SOUTH HALF OF SECTION 20 AND THE SOUTHWEST QUARTER OF SECTION 21, TOWNSHIP 53, RANGE 19, WEST OF THE SECOND MERIDIAN;",192,"73-H-10","Nov 1, 2004"," ","S"
Situated in the Province of Saskatchewan, in NTS map area(s) 73-H-10
in the Southern Mining District
TO: Shaun Spelliscy of Regina, Saskatchewan, --- ---
Contact Person: Shaun Spelliscy Telephone Number: (306) --- ----
DATED AT REGINA, in the Province of Saskatchewan
this 10th day of February, 2005
SEAGROVE CAPITAL CORPORATION"
"What was that about lunatics and frauds?"
That was about certain posters who don't have the balls to post under their real name - however, the few CMKX shareholders that have contacted me seemed quite sincere.
Posted by Shaun Spelliscy @ 2005-02-12 13:22
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Dubsy:
I must have missed that note about my "life partner" once owning CMKX.
In any event, given that several of CMKM's notable PalTalk devotees with a penchant for seizing upon rumours -- like Beaches, Koiman, Maynard and Spiderman -- have checked in here, let me say that suggestion is false.
Indeed, I have no association with anyone who has, or had, a stake in this company.
I certainly wouldn't want the PalTalk faithful wasting their fantastic speculative powers on such a baseless rumour.
Lee
Posted by Lee Webb @ 2005-02-12 13:29
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This article is great! It shows how desperate Lee M. Webb and all involved are. Love it Lee, keep digging the hole!!!
Posted by Scott @ 2005-02-12 14:56
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You are a disgraceful fool IMO to lump good companies that are struggling to survive like CMKX, Gemm,USCA among many others with the junk scam pennies and subpennies out there. Are you connected in anyway to Elgindy or Valentine? Hmmm I wonder.I just hope your reader base has a good laugh over your shortsightedness!
Posted by Wendy Dworken @ 2005-02-12 15:01
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My recollection was a comment at the end of a story (such as this) and it was one of the early ones. I don't recall if it said cmkm or cmkxi at the time, but I stand corrected. Anyways, with a name like Lee, keep em guessing.
the length of your current comments, should be the clue to the clueless on why this investigation is taking so much time by the SEC. Many players, many trails to follow, not many happy. the result is already known, it is just a matter of time. The epilogue will be equally as long, how can a governing body allow a company to trade securities in the public market for over 2 years without any disclosure of any kind!!!! How is that possible? Its a disgrace.
The talent I have seen here is someone's ability to exploit a situation that should not exist in the first place. How someone can issue so many blatantly false press releases and not be prosecuted is also at question.
Right now cmkx has more questions than diamonds, and the answers could start rolling far before a single diamond worth over 5 bucks is ever presented.
Keep the pressure on the crooks, get em shut down, everyone benefits. Reality TV now has Worldcom, tyco,healthsouth,enron, and martha trials dominating the airwaves, and soon Michael Jackson. Could be the best thing ever for cmkx.
Posted by dubsy3 @ 2005-02-12 15:15
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Let's hope that these posters are all subscribers to Stockwatch's services, though I doubt, after wading through their posts, that most could remember their passwords and user IDs without the aid of a tattoo.
They certainly lend support to that current belief, embraced by over 50 per cent of the American population, that modern man (the US version, anyway) burst forth, fully formed and full of misinformation, less than 10,000 years ago.
There is no way that there jerks could be the product of any sort of evolution...and it should only take about 9,000 years of devolution and close inbreeding to produce brainlessness of this magnitude.
Posted by halcrow @ 2005-02-12 15:33
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Mr. Webb I wasted my time reading your crap once (long ago) and thought that was the last I'd see anything from you. Saw this link and decided I'd ask you a question, not expecting an honest answer because you wouldn't know honesty even if it bit you in the arse. Here is my question: Which Hedge Fund or crook group do you work for????
If you reply, no one, (because honesty is not what the kind of you are brought up with so I know your answer) then here is my observation: You are living a life of delusional grandeur because if you are not getting paid to write but you still waste 100s of hours posting on message boards and writing this crap you think will be taken as journalism, you need to rethink the purpose of your being on this planet. You Mr. Webb are no Messiah and that is not my opinion but a FACT.
Now, you may wonder why I wasted my time to write to a percieved moron. I've a little bit of money riding on this, which means I have a financial interest to see that this company succeeds. If I didn't have any financial interest I couldn't care less if morons like you or CMKX exist or not. This is my belief because till I got into CMKX I had not heard of scumbags like you, janice shell, convict bernstien, so original john doe (smith) or stupid remond (I knowingly did not cap the first letter of the names, so don't even try correcting my gramar, not to mention, English is NOT my first language).
By the way, keep churning out these so called articles, you are wasting your life, I didn't read this nor will I read anything that bears your pawprint. Good Luck to you in life, may God give you some sense so that you can get away from this nonsense.
Posted by realistic @ 2005-02-12 15:44
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Geeze, Lee, that article requires a white board to map out all the sleazy interrelated cons.
Good job as usual. Given the information in the Las Vegas stories last week, it looks as if this one may fall apart in an unusually untidy way.
It is interesting to watch cults as their fragile reality begins to crack under the force of external truth.
Posted by Thomas Malone @ 2005-02-12 17:09
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Typical of the slimey bashers to get with it huh Yamoron and the overseas shortie bashers gang! RICO boys of RagingBull - DCSteve, Undefeated, Fumra, DmcDon2851, Kismetman, MightyMezz and countless others are being closely watched, and so are you "spook lee"! Long shareholders will be the last ones laffing at you, azzwipe! I dare you to post this on your little "faggit" site! LMAO
Posted by Guycan @ 2005-02-12 17:15
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you wrote in your article:
Given that CMKM had a whopping 779 billion shares outstanding last fall, any structuring in advance of a move to the OTC-BB, let alone an exchange, will likely involve a massive share consolidation.
FYI, they have 800bil authorized shares,not outstanding shares. If you do no not know the difference, I suggest you not give advise on stock .
Posted by kathy aka ronjon41 @ 2005-02-12 17:49
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HARTLEY BERSTEIN HAS NO CHARACTER..JUST GO LOOK FOR COURT DOCUMENTS..CAN HARTLEY BERSTEIN BE TIED TO HEDGEFUNDS ILLEGALLY NAKED SHORTING CMKX AND OTHER STOCKS? ARE MORE COURT APPEARANCES IN STORE FOR HARTLEY AND OTHERS? ENQUIRING MINDS WANT TO KNOW.. STAY TUNED!!!!
CaseNo: 34-41656, Defendant: Hartley T. Bernstein, Plaintiff: SEC, UniqueCaseRef: SEC>34-41656, Securities, Bernstein, Commission, York, Exchange Act, Relevant Times, Applewoods, Sterling Foster, Practice, Advanced Voice, Administrative Proceedings, Pursuant, Maintained Offices, Smallcap Market, Investors, Violating, Hartley, Respondent, Hereby, Wasserman, Laws, Delaware Corporation, Trading, Com/tech, Embryo, Issuers, Ipos, Thereunder, Penny Stock , ContentID: 120245372
Posted by HARLEY BERSTEIN IS SCUM @ 2005-02-12 18:07
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Kathy:
FYI, they have 800bil authorized shares,not outstanding shares.
Indeed, CMKM does have 800 billion shares authorized; and last fall 779 billion shares were outstanding.
If you do no not know the difference, I suggest you not give advise on stock .
I do know the difference. I never give stock advice.
Lee
Posted by Lee Webb @ 2005-02-12 19:27
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L. Webb
If you don’t give out advice, do you give out stock ownership as a matter of conflicts and disclosure policy?
Posted by ppska @ 2005-02-12 20:21
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What does CMKX mean? It sounds like a, a, a, a nascar team.
Why is there a connection between Howard Hughes, Nascar, Recording executive, diamonds, las vegas, minerals, gemm, urban, casavant diamonds and carolyn pipe. It sounds like a character list for a low budget porno movie. By the way, what makes a porno movie low budget or high budget? Could it be the size of the carot?
Posted by pemises @ 2005-02-12 21:13
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Thanks for the laughs Lee...come visit us in Chicago. We like funny boys like you.
Posted by Stormcrow24 @ 2005-02-12 23:19
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Lee,
All I see here is a bunch of very d e s p a r a t e people who have invested more than they should of...sad...no common sense.
Posted by foolsgold @ 2005-02-13 01:23
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Sad Days,
Must be ignorant americans writing those messages?
Hate to think any self respecting Canadian would personally attack a writer that did nothing but expose the truth and admit they are absolutely clueless about the stock market and all the scammers around, and have been taken into a scam.
I have just read enough to probably get 1/2 the CMKX pumpers arrested for uttering threats. Pretty brave behind faceless keyboards, and perhaps foreign borders? Perhaps they should be more concerned about the ex-jail guard they call a CEO that may have received one too many lessons from the boys on the inside about running a great cult scam? ;)
Okay, pass the grape juice, these investors need to be put out of their misery before the truth comes out and they lose all their allowance money.
Oh, and bring in the metamusil for the new board members, or maybe depends?
See, now was that so hard, no personal attacks, no threats, and I still got my message across to the naive pawns of the manipulating con artists! Just Moi Opinion.
Posted by Pyrite @ 2005-02-13 04:35
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When the criminal indictment comes down I'm going to have the laugh of a lifetime. Hope you guys are named!!!
Posted by John Smith @ 2005-02-13 09:15
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It's very easy to identify the shills. They are the ones with the goofy handles. Have fun in jail.
Posted by John Smith @ 2005-02-13 09:18
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The SEC has subpoenaed bank records related to CMKM's local transactions, an institutional source confirms. The company maintained nearly 100 accounts at a local branch of Silver State Bank alone. A bank employee who handled CMKM's accounts is no longer employed after suspicious activity involving a continuing circle of cashier's checks was uncovered.
By one informed estimate, CMKM is suspected of moving up to $64 million through its Silver State accounts.
CMKX LONG SHAREHOLDER Posted by diamondbill A DEDICATED CMKX SHAREHOLDER A FORMER SPOOK ironman1959 Valentine's Day Pact for CMKX shareholders Valentine's Day Pact for CMKX shareholders Proboards32 Concern about a micro-cent stock Betting Man spiderman1959 no name Thomas P. gdh UnderCover tendollarscoming You don't want to know Koiman6 Dubsy3 HARLEY BERSTEIN IS SCUM ppska pemises
Posted by John Smith @ 2005-02-13 09:32
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U.S. Canadian Minerals Inc. (Pink Sheets: USCA - News) announced today that on Oct. 27, 2004, the United States Securities and Exchange Commission ("SEC") entered a formal order directing the investigation of U.S. Canadian Minerals Inc. (the "company") by the staff of the SEC.
The company and its officers and directors have produced documents and given testimony
Posted by John Smith @ 2005-02-13 09:37
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reviewjournal.com
Posted by john smith @ 2005-02-13 09:37
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Leeward Webb...you seem to be suffering a mental disorder, characterized by systemized delusions of persecution and gradeur....I wish you well on your developmental delay.
Posted by bbarrett49 @ 2005-02-13 12:00
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LEE,
TAKE SOME ADVISE FROM A KNOW IT ALL,LOL, PUNCH YOURSELF DOWN THERE. YOU'LL LIKE IT!!
Posted by PUNCHY POLUKA @ 2005-02-13 12:42
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interesting article in the las vegas journal-se ya all in jail
Posted by john smith @ 2005-02-13 18:57
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After reading the comments of those so vehemently defending CMKM, I fully understand how these pink sheet companies and their publicists can suck in those who dream of the "big hit." P.T. Barnum was right.
On the other hand, if folks are only plunking down a couple of hundred bucks to play, there's no harm in giving it a shot.
Art West
Posted by Art West @ 2005-02-14 09:18
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