Owner
Post by Franko10 ™ on Mar 5, 2005 14:05:26 GMT -5
Franko’s Thought’s on Yesterday’s PR
After reading all the information that has flooded the net in regards to CMKX and the possibilities I felt as though Maybe I would write down some thoughts I have scattered through multiple posting all into one. More or less to see where the picture is now pointing me.
First thing I noticed on the PR was not the 703 billion O/S or the fact that there was a wording issue following the number (we will get back to the though) but what I did notice was a very upset Urban Casavant and Iron Bob ,..
They Said:
"The SEC did not provide us with any notice of the temporary trading halt," stated Urban Casavant, CEO of CMKX. "This was an unwelcome surprise, especially since our counsel has had ongoing dialogue with the SEC."
SO Urban says WTF,.. Why did you do this? We have been working with you all along in regards to USCA and now you pull this over on us? You are about to pay big time,.. LOL
I was sooo happy when I read that part,.. to me that part stated point blank the gloves are off and now we go to street rules… lol
Then Maheu added later on:
"We are not letting these regulatory matters impede our primary focus of creating stockholder value through the mining and development of our mineral assets," stated Maheu. CMKX is continuing to search for additional property claims in Canada and monitor its holdings in Ecuador.
To me he is saying screw you guys,.. We don’t care,.. It is too late,.. You can’t touch us now,..
I loved the fact that they commented on the fact that we are a mining company again,.. Seeing how that fact has been on the back burner and being over shadowed by BOD additions and SEC issues,.. He is reminding us they have not forgotten the prize and this is not a game,.. The company should be taken seriously and not played with.
I think that as far as PR’s go this was the best one we have had yet,.. after I got over the initial shock of ,.. OMG are they going to brawl or what,.. lol
Then after I got over it I read the rest again including the rather lengthy Disclaimer on the bottom,.. lol ,.. a lot of stuff in there,.. you can tell now that the Legal team has really taken ahold of the situation and they are covering all the bases.
Now that we have described are faith in the Legal team as good I come to the part of the PR which has been quite heated and undecided by many,.. others think it is crazy to think other then the fact ,.. but still people like myself think that we should not assume anything,.. that being said I still find myself compelled to dissect that verse in it to try to understand why it may have been worded the way it was.
Here it is:
Of the 800 billion authorized shares of common stock, CMKX currently has 703,518,875,000 shares of common stock issued and outstanding to approximately 2,032 stockholders of record (excluding shares held in "street name").
The color section in yellow is what we all know to be the new gray area,.. lol
If we were to think that it is as it reads we would know that the O/S does not include any shares held in street name – meaning any and all shares held by your firms as they always always always hold them in street name. That raises the question of how does the 703 billion break down within the 2,032 stockholders we do know about.
Who owns what,.. blah blah blah,.. the problem for some is they feel in me assuming that it means that they are not including them in the O/S makes me stupid because what It should read as :
Only cert holders were counted in the total holder list,.. Shares in Street Name are included in the O/S.
Now how hard was that? Took an extra line but it is clear as mud right?
LOL
Well here is why I don’t buy the story they don’t know the total number of shareholders to begin with:
About a Year ago or so ,.. Maybe longer (can't remember the date-lol) the firms (TDW for sure) changed the way they deal with Customer accounts. The reason they changed the way they deal with them is because of issues like this.
What happened was because all shares are held in "street name" the companies themselves had no idea how many shareholders they really had. Because all communication always went through the firm and then to the Customers. What they did to fix this was, any shareholder who purchases shares electronically the firms sent that information to the company, the company then could send communications directly to the customers,..
So people who are saying the Street Name shares were not included in the numbers because there was no way for them to know is false,...
They do know,.. They do have the names,.. They do have a list,..
I still say there is another reason why they were excluded,.. If I am wrong then I am wrong,.. But I feel pretty strongly that I am not.
All I ask from the company is that someone clarify what was said,..
As far as the rest of the PR went,.. With the information about the new office space and BOD members I find only positive feelings in the end of it all,…<br>
Urban Casavant (CEO/President/Secretary/Treasurer) and current directors are Urban Casavant and Robert A. Maheu (Michael Williams will join the board of directors upon CMKX's obtainment of D&O insurance).
I guess this answers the questions we all had about past BOD members and if they were still on and what is happening there.
Obviously we are still looking for more answers but when haven’t we been… We will win we will get what we want.
I leave you with this quote :
“He who believes is strong; he who doubts is weak. Strong convictions precede great actions.” -- Louisa May Alcott
These are only My opinions and should be treated as such.
