Owner
Post by Franko10 ™ on Apr 20, 2006 18:49:19 GMT -5
Hey,.. I have had a few pms and emails in regards to the update sent out today from the OwnersGroup and I figured I might as well post my thoughts in a posting rather then sending out a few emails and Pms,. lol,.. Yes you can call me lazy. 
First off the disclaimer’s with him distancing himself from the crew involved,.. Which to me is a good move,.. I am sure there are a lot of unneeded calls and emails, which could have them, spending time on other things like proving the short and disseminating information to the shareholders such as they did today.
We are too busy trying to find out how 60 or 70 thousand accounts became 30 or 40 thousand accounts in a relatively short period of time. We are very concerned with the obstinate refusal of brokerage houses to send their CMKM customers proof of certified share positions. Even the DTCC is invoking a slightly uncommon procedure to send its certs out to its participants because of the reluctance by certain brokers to retrieve certs they have on deposit at the DTCC.
This section points out something I personally think is quite interesting and also not surprising,.. When I was told of the DTC being co-operative with the Task force in the updates prior I did question why to myself,.. And one thing I can think of it number one they realize the error and what no part of it,.. Hence the distribution they are making themselves to clear their records… however in doing so they are possibly trying to cover their own tracks and evidence that they too understood the massive fail to deliver in CMKM and making sure if they are being co-operative then perhaps we wont point the figure at them.
You should recall that Urban and the company are both still under investigation by the SEC and Urban has very competent counsel that guides him in his communications with shareholders. I am a shareholder as well as a member of the Task Force.
Here I understand he is trying to inform us all that there are reasons why information is limited and again distancing himself from the action as to protect him. It also indicates that Urban and Company are treading very lightly and being extremely careful. Reasons for this to me are yet to be determined and of course we can all say good or bad things to back it but to me I will hold judgment again until more information is brought to light.
The Task Force has received evidence that many accounts containing CMKX stock were unilaterally sold from shareholder’s account in 2005 and 2006. We have learned there are shareholders who had their positions liquidated as worthless securities. We know there are a large number of “Fails to Deliver” in this stock so we (Task Force) have decided to go beyond what would be considered the normal process of notification. The current NOBO/OBO list provided by ADP does not contain all the shareholders that are probably entitled to this distribution in my opinion.
Again some pretty strong words and something to me that should be and should have more time in the lime light,.. esp this part . We have learned there are shareholders who had their positions liquidated as worthless securities. This is very very very wrong,. This should never under any circumstances happen.. infact in most cases people who were to have say BreX in their accounts and have only that security cannot close their accounts or wash them under law because if anything in the future were to happen with the security like a settlement or lawsuit or even re registration under some strange reason a Broker/Dealer would be held liable for the position they washed as it is their duty to make sure a client gets the rights afforded.
The fact that many firms have decided for whatever reason to “wash” the positions from their systems and close accounts on clients who only held these securities were done obviously in hopes to clear their own records and make fails disappear. Perhaps having the people involved we have involved and the relentless actions of our taskforce and Bill has scared them to submission. But what they do not realize is this pressure being brought upon them will not dissipate but it will actually cause quite the contrary seeing how the group has been able to acquire documentation on a regular basis and at different stages of the game showing accounts and positions from certain firms.
This is the evidence that IMHO will be used to bring these crooks to their knees,. And if it is not their fault and they were mislead by another then they should in turn go after them,.. and then a circle of blame will follow as one returns the other and so on.
“The current NOBO/OBO list provided by ADP does not contain all the shareholders that are probably entitled to this distribution” Why you ask,.. Well I am pretty sure this is not the first listing that they tried to acquire,.. And again they probably have documentation and proof of what and how things changed. Again only IMHO
This mail out will go out to approximately 36,000 account holders. We are requesting formal notification by ADP services to all OBO accounts. OBO accounts are shareholders that object to giving their names and information, so we have to depend on ADP to notify these accounts of our distribution and the request for certs. Our mailing will include approximately 7000 Canadian and other foreign accounts. We have information of shareholders in 60 foreign countries, but we have no reliable way to accurately identify these shareholders and their respective holdings.
Here is the part I was waiting for when I was reading it,.. This added to the numbers we already have prove one rumor we all had heard in the past of their being possibly 70 thousand plus shareholders,. Do the math and you will see we have not even half already accounted for,… Again if these people come forward and provide data who knows what will happen .. I do know someone will be in hot water,. Lol
We are also evaluating rate sheets and deciding the most effective news print media to use to supplement our direct mailing. The legal notice will essentially have the same information as the mail out, and will fulfill any required legal notification.
So for those concerned not enough attention and where is the new release I guess this one was for you,. Lol as far as I stand I like they are taking their time and making sure things are done right for a change and not just thrown out there.
And of course the strongest words in the entire Update from Bill would have to be this part below:
Folks, we are embarking on new territory here. No company has ever challenged the market to become transparent as you are doing. Call your fellow shareholders who are not cooperating. Explain as best you can the need to unite for a bit longer. This group can have a profound effect on the stock market if this group stays together and works together in the face of a well coordinated group of bashers and detractors to our efforts. Why do you think the bashers and detractors continue their assault on a non trading revoked company?
And I agree 100% yeah some of the bashers are just fed up people and I understand their frustrations but if people are willing to wash accounts I am sure there are a few paid bad guys out there to make well known there is nothing to be had.
If we succeed we very may well go down in history and then the term “The Stock play of a lifetime” will ring true.
Good luck all and I hope this helps those with questions,.. if not just post below and I’ll try to answer as well as the other great members here!~
First off the disclaimer’s with him distancing himself from the crew involved,.. Which to me is a good move,.. I am sure there are a lot of unneeded calls and emails, which could have them, spending time on other things like proving the short and disseminating information to the shareholders such as they did today.
We are too busy trying to find out how 60 or 70 thousand accounts became 30 or 40 thousand accounts in a relatively short period of time. We are very concerned with the obstinate refusal of brokerage houses to send their CMKM customers proof of certified share positions. Even the DTCC is invoking a slightly uncommon procedure to send its certs out to its participants because of the reluctance by certain brokers to retrieve certs they have on deposit at the DTCC.
This section points out something I personally think is quite interesting and also not surprising,.. When I was told of the DTC being co-operative with the Task force in the updates prior I did question why to myself,.. And one thing I can think of it number one they realize the error and what no part of it,.. Hence the distribution they are making themselves to clear their records… however in doing so they are possibly trying to cover their own tracks and evidence that they too understood the massive fail to deliver in CMKM and making sure if they are being co-operative then perhaps we wont point the figure at them.
You should recall that Urban and the company are both still under investigation by the SEC and Urban has very competent counsel that guides him in his communications with shareholders. I am a shareholder as well as a member of the Task Force.
Here I understand he is trying to inform us all that there are reasons why information is limited and again distancing himself from the action as to protect him. It also indicates that Urban and Company are treading very lightly and being extremely careful. Reasons for this to me are yet to be determined and of course we can all say good or bad things to back it but to me I will hold judgment again until more information is brought to light.
The Task Force has received evidence that many accounts containing CMKX stock were unilaterally sold from shareholder’s account in 2005 and 2006. We have learned there are shareholders who had their positions liquidated as worthless securities. We know there are a large number of “Fails to Deliver” in this stock so we (Task Force) have decided to go beyond what would be considered the normal process of notification. The current NOBO/OBO list provided by ADP does not contain all the shareholders that are probably entitled to this distribution in my opinion.
Again some pretty strong words and something to me that should be and should have more time in the lime light,.. esp this part . We have learned there are shareholders who had their positions liquidated as worthless securities. This is very very very wrong,. This should never under any circumstances happen.. infact in most cases people who were to have say BreX in their accounts and have only that security cannot close their accounts or wash them under law because if anything in the future were to happen with the security like a settlement or lawsuit or even re registration under some strange reason a Broker/Dealer would be held liable for the position they washed as it is their duty to make sure a client gets the rights afforded.
The fact that many firms have decided for whatever reason to “wash” the positions from their systems and close accounts on clients who only held these securities were done obviously in hopes to clear their own records and make fails disappear. Perhaps having the people involved we have involved and the relentless actions of our taskforce and Bill has scared them to submission. But what they do not realize is this pressure being brought upon them will not dissipate but it will actually cause quite the contrary seeing how the group has been able to acquire documentation on a regular basis and at different stages of the game showing accounts and positions from certain firms.
This is the evidence that IMHO will be used to bring these crooks to their knees,. And if it is not their fault and they were mislead by another then they should in turn go after them,.. and then a circle of blame will follow as one returns the other and so on.
“The current NOBO/OBO list provided by ADP does not contain all the shareholders that are probably entitled to this distribution” Why you ask,.. Well I am pretty sure this is not the first listing that they tried to acquire,.. And again they probably have documentation and proof of what and how things changed. Again only IMHO
This mail out will go out to approximately 36,000 account holders. We are requesting formal notification by ADP services to all OBO accounts. OBO accounts are shareholders that object to giving their names and information, so we have to depend on ADP to notify these accounts of our distribution and the request for certs. Our mailing will include approximately 7000 Canadian and other foreign accounts. We have information of shareholders in 60 foreign countries, but we have no reliable way to accurately identify these shareholders and their respective holdings.
Here is the part I was waiting for when I was reading it,.. This added to the numbers we already have prove one rumor we all had heard in the past of their being possibly 70 thousand plus shareholders,. Do the math and you will see we have not even half already accounted for,… Again if these people come forward and provide data who knows what will happen .. I do know someone will be in hot water,. Lol
We are also evaluating rate sheets and deciding the most effective news print media to use to supplement our direct mailing. The legal notice will essentially have the same information as the mail out, and will fulfill any required legal notification.
So for those concerned not enough attention and where is the new release I guess this one was for you,. Lol as far as I stand I like they are taking their time and making sure things are done right for a change and not just thrown out there.
And of course the strongest words in the entire Update from Bill would have to be this part below:
Folks, we are embarking on new territory here. No company has ever challenged the market to become transparent as you are doing. Call your fellow shareholders who are not cooperating. Explain as best you can the need to unite for a bit longer. This group can have a profound effect on the stock market if this group stays together and works together in the face of a well coordinated group of bashers and detractors to our efforts. Why do you think the bashers and detractors continue their assault on a non trading revoked company?
And I agree 100% yeah some of the bashers are just fed up people and I understand their frustrations but if people are willing to wash accounts I am sure there are a few paid bad guys out there to make well known there is nothing to be had.
If we succeed we very may well go down in history and then the term “The Stock play of a lifetime” will ring true.
Good luck all and I hope this helps those with questions,.. if not just post below and I’ll try to answer as well as the other great members here!~
