Owner
Post by Franko10 ™ on Dec 13, 2007 7:06:52 GMT -5
12-12-07
Dear shareholders,
It has been over eight months since the reigns to this Company were signed over to me by Urban Casavant. There has been a lot of work accomplished during this time that has not been made readily available to the public because of ongoing litigation. During these last few months, the Company has subpoenaed and otherwise acquired over 200,000 pages of documentation that has well established what really happened to your investments. Many of you have read the lawsuits that the Company has filed and understand the facts that are presented under oath in these petitions. Some of you have continued to deny what has taken place in this Company under the control of former management and are looking to current management for answers to questions that have been answered over and over.
In the normal course of litigation, the plaintiff does not give out the documented evidence it has acquired for dissemination to the public. Normally a statement of facts is presented in the lawsuit petition along with exhibits to support those facts. This is eventually followed by interrogatories and document requests by the opposing side. In our lawsuit filed by the Company against former management and other insiders, there has not been an opposing side to show up in court to request our evidence. I have discussed releasing some of our documented evidence to the shareholders via this public website. Company legal counsel has advised me against doing this because it is not a normal legal course of action. However, I am going to release a portion of our evidence because of the obligation that I feel to the shareholders to share with them the facts as they have happened. There are many documents that simply cannot and will not be made public at this time due to their role in a potential recovery of assets. With the support of our legal team, I still hope to be able to recover some of the assets that belong to the Company. If and when enough assets are recovered, they can provide a financial basis for this Company to appoint a Board of Directors and hire officers to initiate a formal business plan and finally move this Company forward to become a real and viable entity.
Many are wondering about the talk in the past of naked shorting of the Company’s stock when it was publicly traded. The Company does have proof of actual fails to deliver in our stock. The number of fails and the number of shareholders affected by this problem have not yet been established due to an ongoing shareholder audit. Most people do not realize the number of hours and the amount of money that has to be expended with every step the Company takes in any of the ongoing issues, the shareholder audit being one of most exhaustive of these resources. . Having a shareholder base of 40,000+ people multiplied by the fact that our shareholder base is from around the world, makes every step a massive undertaking. Because of the enormous size and international locations of our shareholder base, any event that would require the Company to attempt notification of all shareholders through a certified process would cost a minimum of $250,000 by the time all costs were added together.
Many are asking me to disclose my personal salary. Since this is a private company, I am not obligated to do so. However, since it is not a big secret, I will provide this information to you. Just before his resignation on March 29th of this year, the former Chairman of this Company gave me a new 3 year contract as sole officer and director of the Company at $10,000 per month. Since the Company was left with little more than $500 in the bank when I took over on March 29, 2007, the Company has relied upon loans put together by Bill Frizzell to continue to survive. Because most of this money has to be used in an effort to recover assets for continued survival, my personal income has been very minimal and has not been enough for my salary to be paid in full through July of this year.
Many are asking about the interpleader action that was supposed to have been filed by the former attorney of CMKM Diamonds, Inc., John T. Moran lll. The Company still does not know what actually took place during the time that Mr. Moran was hired to file the interpleader because that attorney is still refusing to turn over our Company’s file. At this time, the Company is now involved in yet another lawsuit that was filed by Entourage Mining in British Columbia in an effort to reclaim the shares of Entourage stock that was supposed to be included in the interpleader that was never filed in Nevada. This lawsuit must be decided before any further actions can be discussed or taken with these holdings.
The Company will not answer to threats by shareholders or anyone else. Current letters that have come to my attention that are threatening a phone, fax and email campaign will not be answered in any way, shape or form. Anyone that believes that wasting the very limited time and resources of our legal team and other service professionals are only looking for ways to get recognition and these acts are no help to the Company or the shareholders. These suggested ways to try and manipulate management into discussing matters that are pure fantasy are only going to further delay what we are trying to accomplish for the good of everyone.
Bill Frizzell and I have taken time out of our very busy schedule to visit with many shareholders who have dropped in without an appointment, but our limited time simply does not allow for unscheduled visits in the future. I would suggest that these individuals get a shareholder representative to call the law firm and ask to schedule an appointment to come and look at the real facts. If shareholders want to hire an attorney and have that attorney call Bill Frizzell, he will be happy to schedule time for him or her also.
As discussed earlier in this update, I am going to release some of our many documents on this website for shareholders to view. These documents are going to be released as we have time to put them into a form suitable for public viewing. These documents are only being shared as a way to show shareholders the truth as to what has happened. The Company will not give any opinions on these documents as they are pretty much self-explanatory.
Out of everything that I have to deal with on a daily basis, my biggest burden is for the families of those that continue to live in a fantasy land of big checks coming that will save the day. Families are suffering for the actions of spouses that are addicted to these get-rich-quick rumors. There are no checks coming from any source. As shareholders, our only hope for liquidity and any possible ROI in the future is to get this Company back to trading status with value in it so that you can one day make a choice to either sell your holdings or hold on and grow with the Company. Those that continue talk of checks are only misleading you for their own purposes or for the purposes of those that do not want to face the wrath of this shareholder base for the crimes that they have committed against them.
As the CEO, I am thrilled with the results of our legal work. I have confidence we will be successful in our efforts to rebuild this Company.
Sincerely,
Kevin West
CEO, President & Chairman
Dear shareholders,
It has been over eight months since the reigns to this Company were signed over to me by Urban Casavant. There has been a lot of work accomplished during this time that has not been made readily available to the public because of ongoing litigation. During these last few months, the Company has subpoenaed and otherwise acquired over 200,000 pages of documentation that has well established what really happened to your investments. Many of you have read the lawsuits that the Company has filed and understand the facts that are presented under oath in these petitions. Some of you have continued to deny what has taken place in this Company under the control of former management and are looking to current management for answers to questions that have been answered over and over.
In the normal course of litigation, the plaintiff does not give out the documented evidence it has acquired for dissemination to the public. Normally a statement of facts is presented in the lawsuit petition along with exhibits to support those facts. This is eventually followed by interrogatories and document requests by the opposing side. In our lawsuit filed by the Company against former management and other insiders, there has not been an opposing side to show up in court to request our evidence. I have discussed releasing some of our documented evidence to the shareholders via this public website. Company legal counsel has advised me against doing this because it is not a normal legal course of action. However, I am going to release a portion of our evidence because of the obligation that I feel to the shareholders to share with them the facts as they have happened. There are many documents that simply cannot and will not be made public at this time due to their role in a potential recovery of assets. With the support of our legal team, I still hope to be able to recover some of the assets that belong to the Company. If and when enough assets are recovered, they can provide a financial basis for this Company to appoint a Board of Directors and hire officers to initiate a formal business plan and finally move this Company forward to become a real and viable entity.
Many are wondering about the talk in the past of naked shorting of the Company’s stock when it was publicly traded. The Company does have proof of actual fails to deliver in our stock. The number of fails and the number of shareholders affected by this problem have not yet been established due to an ongoing shareholder audit. Most people do not realize the number of hours and the amount of money that has to be expended with every step the Company takes in any of the ongoing issues, the shareholder audit being one of most exhaustive of these resources. . Having a shareholder base of 40,000+ people multiplied by the fact that our shareholder base is from around the world, makes every step a massive undertaking. Because of the enormous size and international locations of our shareholder base, any event that would require the Company to attempt notification of all shareholders through a certified process would cost a minimum of $250,000 by the time all costs were added together.
Many are asking me to disclose my personal salary. Since this is a private company, I am not obligated to do so. However, since it is not a big secret, I will provide this information to you. Just before his resignation on March 29th of this year, the former Chairman of this Company gave me a new 3 year contract as sole officer and director of the Company at $10,000 per month. Since the Company was left with little more than $500 in the bank when I took over on March 29, 2007, the Company has relied upon loans put together by Bill Frizzell to continue to survive. Because most of this money has to be used in an effort to recover assets for continued survival, my personal income has been very minimal and has not been enough for my salary to be paid in full through July of this year.
Many are asking about the interpleader action that was supposed to have been filed by the former attorney of CMKM Diamonds, Inc., John T. Moran lll. The Company still does not know what actually took place during the time that Mr. Moran was hired to file the interpleader because that attorney is still refusing to turn over our Company’s file. At this time, the Company is now involved in yet another lawsuit that was filed by Entourage Mining in British Columbia in an effort to reclaim the shares of Entourage stock that was supposed to be included in the interpleader that was never filed in Nevada. This lawsuit must be decided before any further actions can be discussed or taken with these holdings.
The Company will not answer to threats by shareholders or anyone else. Current letters that have come to my attention that are threatening a phone, fax and email campaign will not be answered in any way, shape or form. Anyone that believes that wasting the very limited time and resources of our legal team and other service professionals are only looking for ways to get recognition and these acts are no help to the Company or the shareholders. These suggested ways to try and manipulate management into discussing matters that are pure fantasy are only going to further delay what we are trying to accomplish for the good of everyone.
Bill Frizzell and I have taken time out of our very busy schedule to visit with many shareholders who have dropped in without an appointment, but our limited time simply does not allow for unscheduled visits in the future. I would suggest that these individuals get a shareholder representative to call the law firm and ask to schedule an appointment to come and look at the real facts. If shareholders want to hire an attorney and have that attorney call Bill Frizzell, he will be happy to schedule time for him or her also.
As discussed earlier in this update, I am going to release some of our many documents on this website for shareholders to view. These documents are going to be released as we have time to put them into a form suitable for public viewing. These documents are only being shared as a way to show shareholders the truth as to what has happened. The Company will not give any opinions on these documents as they are pretty much self-explanatory.
Out of everything that I have to deal with on a daily basis, my biggest burden is for the families of those that continue to live in a fantasy land of big checks coming that will save the day. Families are suffering for the actions of spouses that are addicted to these get-rich-quick rumors. There are no checks coming from any source. As shareholders, our only hope for liquidity and any possible ROI in the future is to get this Company back to trading status with value in it so that you can one day make a choice to either sell your holdings or hold on and grow with the Company. Those that continue talk of checks are only misleading you for their own purposes or for the purposes of those that do not want to face the wrath of this shareholder base for the crimes that they have committed against them.
As the CEO, I am thrilled with the results of our legal work. I have confidence we will be successful in our efforts to rebuild this Company.
Sincerely,
Kevin West
CEO, President & Chairman
