Post by MasterBlaster2u™ on Mar 3, 2008 21:31:55 GMT -5
3-03-08
Dear Shareholders,
For several years now, I have listened to rumors and unfounded fantasies about shareholder payouts and naked short trust funds. These rumors have no factual basis and I feel compelled to once again address these issues.
Like many of you, I once believed there was an involvement or some sort of covert action taking place behind the scenes which might suggest an ongoing sting or conspiracy theory. Just as many of you are now doing, I spent endless hours performing due diligence and engaging in talks with other shareholders. At that time, I did not have the facts before me that I have today. I have shared many of these facts with you through providing you with sworn declarations, documents and other information that is available on the Company website.
When Urban Casavant and Michael Williams contacted me about becoming interim CEO, I demanded to know more about what was really going on before accepting the job. I was promised more information and given many stories that seemed credible at the time. Because I was so trusting and wanted so badly to believe that things were being done for the benefit of the shareholders, I made the decision to accept the position being offered. This was a hard decision to make because I already had a very good job.
When I accepted the job as interim CEO, I did so because I felt that no matter what the circumstances were I would be in a position to help the shareholders. I also believed that if there were unknown problems facing Urban and CMKM that I could be of some help in resolving those problems. My sincere thought was that if there was ever going to be a return to these shareholders, I believed in my heart that my efforts would assist Urban and whoever he might have been working with to finally bring everything to fruition.
I must say that my seven months as interim CEO was not a good experience. Unfortunately, what I learned did not in any way support the rumors or fantasies that I had been hearing for years. The facts uncovered since accepting the job as permanent CEO have also proven quite a different story to the ones that I was being told and a whole new set of facts came to light.
I made a promise when I became your CEO that I would do everything I could possibly do to report the condition of the Company and the facts as I found them to you as objectively as possible. I assumed that presenting facts via documents and sworn declarations would be helpful to the shareholders and would minimize the rumors and fantasies that have been so rampant for the last several years. While this has minimized the effect of these rumors to some extent, the rumors are still fueling false hopes to many.
Upon becoming sole officer and Director in March of last year, I made an immediate decision to cooperate in every way possible with any law enforcement and regulatory bodies that have been investigating this Company. Almost every day I spend time investigating the occurrences of the past few years. The results of our many investigations will be important as we proceed with our civil litigation.
Let it be known that there have not been any law enforcement agencies nor any regulatory bodies (SEC and others) that have contacted me to request my help or my assistance in any of their investigations. However, I did make personal contact with many of them and have since provided numerous files and documents which contained information that I believe may be of some help to government investigators. It should come as no surprise that there are criminal investigations and SEC enforcement investigations that have been ongoing in CMKM for several years now.
Part of my duty as CEO is to be able to identify our bona fide shareholders. I have been conducting a very extensive and ongoing shareholder audit since I took office last year. Several months ago it was brought to my attention that there were some illegally issued certificates. Since that time, we have uncovered many forged stock powers and other irregularities in the stock issuing process. We have begun contacting numerous shareholders requesting proof of payment or of any services rendered as payment for their stock. We have had to engage in this lengthy process because the company records, in many cases, do not show payment or services rendered as payment for stock being issued.
Since we have irrefutable proof of forged signatures and other types of irregularities on many of the documents necessary for the valid issuance of shares, I have instituted a policy of reviewing proposed stock transfers before our transfer agent does the job it is entrusted to do.
As CEO, it was my decision to review all proposed transfers. The transfer agent (under SEC rules) makes the final decisions on whether or not a stock transfer complies with appropriate rules and laws. This reviewing process was not suggested to me by any agency nor is it required, approved or condoned by any law enforcement agency or regulatory body.
If there are any stock transfer requests coming in from shareholders that I feel might be of interest to law enforcement or the SEC, then I feel compelled to make such information available to them. Law enforcement and the SEC may or may not find the information I forward to them helpful. There has never been an approval or denial given to me by the SEC nor any law enforcement agency for any of the proposed transfers that have been requested by shareholders since I have become CEO. Law enforcement and the SEC may or may not do further investigation on the proposed transfers. In light of the knowledge that I have about past irregularities, I believe it is my duty to review proposed transfers. If there are any proposed transfers of this stock that I feel might be of interest to law enforcement or the SEC, I forward the materials to them. I do not want it to appear that this company is in any way protecting, condoning or hiding such transfers.
I will continue reviewing proposed transfers as part of my duty as CEO of this company. However, my act of reviewing company stock transfers and forwarding the information to any government agency should not be considered as any proof of some expected payout. It appears there are still a small number of shareholders that wish to encourage these fantasies, but I feel duty bound to tell you the facts as I know them to be.
There are shareholders stating that I have said these stock transfer proposals were being reviewed and approved by the SEC. I felt it necessary to tell you that such statements are completely untrue. I have merely told a few shareholders that I was sharing the information with the SEC and that I would continue the transfer process after a few days from forwarding that information to them. I have told several shareholders in writing what I am telling you in this update.
I have also heard that some shareholders were hoping to sell some of their stock to new investors because they believed these actions were proof of some eventual windfall. Nothing could be further from the truth. It would be a terrible injustice for someone to interpret these acts as some proof of an eventual payout or any potential benefit to the shareholders.
I reiterate to you that our lawsuits, depositions by government agencies, documents and statements of witnesses do not suggest there has ever been one penny placed in trust nor set aside for the company shareholders. Our lawsuits are based on facts. The supporting declarations are factual. All documents posted on our website are factual. There is not one iota of factual evidence that shows that any actions were ever taken nor money set aside by previous management for any type of eventual payout to the shareholders of this Company.
I have tremendous faith in our legal team and I believe that they have made huge steps forward in the eventual recovery of some of the assets that were purchased with your investment dollars. While it is our plan to eventually return to a trading status of some kind, we cannot even contemplate becoming publicly traded in any form until we can build a real business that has tangible assets, a full Board of Directors, a management team and a business plan that has forseeable revenues. In other words… a real business.
I fully realize that making such statements will not be well received by a small number of shareholders who feel it necessary to fuel your hopes with absolute falsehoods. I want to emphasize once again that I have never told anyone that our stock transfers are being approved, disapproved or even being reviewed by the SEC. I am simply forwarding our information to the SEC out of an abundance of precaution that any such transfers might be of help to them as they do their jobs of enforcing the securities laws.
I would request that shareholders ignore the many false rumors and tune into the Company website for factual information and updates as they are provided.
Sincerely,
Kevin West
CEO, President & Chairman
Dear Shareholders,
For several years now, I have listened to rumors and unfounded fantasies about shareholder payouts and naked short trust funds. These rumors have no factual basis and I feel compelled to once again address these issues.
Like many of you, I once believed there was an involvement or some sort of covert action taking place behind the scenes which might suggest an ongoing sting or conspiracy theory. Just as many of you are now doing, I spent endless hours performing due diligence and engaging in talks with other shareholders. At that time, I did not have the facts before me that I have today. I have shared many of these facts with you through providing you with sworn declarations, documents and other information that is available on the Company website.
When Urban Casavant and Michael Williams contacted me about becoming interim CEO, I demanded to know more about what was really going on before accepting the job. I was promised more information and given many stories that seemed credible at the time. Because I was so trusting and wanted so badly to believe that things were being done for the benefit of the shareholders, I made the decision to accept the position being offered. This was a hard decision to make because I already had a very good job.
When I accepted the job as interim CEO, I did so because I felt that no matter what the circumstances were I would be in a position to help the shareholders. I also believed that if there were unknown problems facing Urban and CMKM that I could be of some help in resolving those problems. My sincere thought was that if there was ever going to be a return to these shareholders, I believed in my heart that my efforts would assist Urban and whoever he might have been working with to finally bring everything to fruition.
I must say that my seven months as interim CEO was not a good experience. Unfortunately, what I learned did not in any way support the rumors or fantasies that I had been hearing for years. The facts uncovered since accepting the job as permanent CEO have also proven quite a different story to the ones that I was being told and a whole new set of facts came to light.
I made a promise when I became your CEO that I would do everything I could possibly do to report the condition of the Company and the facts as I found them to you as objectively as possible. I assumed that presenting facts via documents and sworn declarations would be helpful to the shareholders and would minimize the rumors and fantasies that have been so rampant for the last several years. While this has minimized the effect of these rumors to some extent, the rumors are still fueling false hopes to many.
Upon becoming sole officer and Director in March of last year, I made an immediate decision to cooperate in every way possible with any law enforcement and regulatory bodies that have been investigating this Company. Almost every day I spend time investigating the occurrences of the past few years. The results of our many investigations will be important as we proceed with our civil litigation.
Let it be known that there have not been any law enforcement agencies nor any regulatory bodies (SEC and others) that have contacted me to request my help or my assistance in any of their investigations. However, I did make personal contact with many of them and have since provided numerous files and documents which contained information that I believe may be of some help to government investigators. It should come as no surprise that there are criminal investigations and SEC enforcement investigations that have been ongoing in CMKM for several years now.
Part of my duty as CEO is to be able to identify our bona fide shareholders. I have been conducting a very extensive and ongoing shareholder audit since I took office last year. Several months ago it was brought to my attention that there were some illegally issued certificates. Since that time, we have uncovered many forged stock powers and other irregularities in the stock issuing process. We have begun contacting numerous shareholders requesting proof of payment or of any services rendered as payment for their stock. We have had to engage in this lengthy process because the company records, in many cases, do not show payment or services rendered as payment for stock being issued.
Since we have irrefutable proof of forged signatures and other types of irregularities on many of the documents necessary for the valid issuance of shares, I have instituted a policy of reviewing proposed stock transfers before our transfer agent does the job it is entrusted to do.
As CEO, it was my decision to review all proposed transfers. The transfer agent (under SEC rules) makes the final decisions on whether or not a stock transfer complies with appropriate rules and laws. This reviewing process was not suggested to me by any agency nor is it required, approved or condoned by any law enforcement agency or regulatory body.
If there are any stock transfer requests coming in from shareholders that I feel might be of interest to law enforcement or the SEC, then I feel compelled to make such information available to them. Law enforcement and the SEC may or may not find the information I forward to them helpful. There has never been an approval or denial given to me by the SEC nor any law enforcement agency for any of the proposed transfers that have been requested by shareholders since I have become CEO. Law enforcement and the SEC may or may not do further investigation on the proposed transfers. In light of the knowledge that I have about past irregularities, I believe it is my duty to review proposed transfers. If there are any proposed transfers of this stock that I feel might be of interest to law enforcement or the SEC, I forward the materials to them. I do not want it to appear that this company is in any way protecting, condoning or hiding such transfers.
I will continue reviewing proposed transfers as part of my duty as CEO of this company. However, my act of reviewing company stock transfers and forwarding the information to any government agency should not be considered as any proof of some expected payout. It appears there are still a small number of shareholders that wish to encourage these fantasies, but I feel duty bound to tell you the facts as I know them to be.
There are shareholders stating that I have said these stock transfer proposals were being reviewed and approved by the SEC. I felt it necessary to tell you that such statements are completely untrue. I have merely told a few shareholders that I was sharing the information with the SEC and that I would continue the transfer process after a few days from forwarding that information to them. I have told several shareholders in writing what I am telling you in this update.
I have also heard that some shareholders were hoping to sell some of their stock to new investors because they believed these actions were proof of some eventual windfall. Nothing could be further from the truth. It would be a terrible injustice for someone to interpret these acts as some proof of an eventual payout or any potential benefit to the shareholders.
I reiterate to you that our lawsuits, depositions by government agencies, documents and statements of witnesses do not suggest there has ever been one penny placed in trust nor set aside for the company shareholders. Our lawsuits are based on facts. The supporting declarations are factual. All documents posted on our website are factual. There is not one iota of factual evidence that shows that any actions were ever taken nor money set aside by previous management for any type of eventual payout to the shareholders of this Company.
I have tremendous faith in our legal team and I believe that they have made huge steps forward in the eventual recovery of some of the assets that were purchased with your investment dollars. While it is our plan to eventually return to a trading status of some kind, we cannot even contemplate becoming publicly traded in any form until we can build a real business that has tangible assets, a full Board of Directors, a management team and a business plan that has forseeable revenues. In other words… a real business.
I fully realize that making such statements will not be well received by a small number of shareholders who feel it necessary to fuel your hopes with absolute falsehoods. I want to emphasize once again that I have never told anyone that our stock transfers are being approved, disapproved or even being reviewed by the SEC. I am simply forwarding our information to the SEC out of an abundance of precaution that any such transfers might be of help to them as they do their jobs of enforcing the securities laws.
I would request that shareholders ignore the many false rumors and tune into the Company website for factual information and updates as they are provided.
Sincerely,
Kevin West
CEO, President & Chairman