Owner
Post by Franko10 ™ on Mar 17, 2006 6:51:17 GMT -5
FRIZZELL LAW FIRM
602 S. Broadway
Tyler, Texas 75701
(903)595-1921
Greetings CMKX Owners Group members,
I have decided to give you an update on certain matters at this time. I have been waiting for the official press release from the company but apparently there are some problems in getting the release to the wire service as planned. It is 5:00 pm on the West Coast so you may still receive the information before the work day is over. I was asked for input on certain significant parts of the press release but I have not seen the final draft.
This week has been hectic but very interesting as I observed the activities of the brokers and other related parties. When you consider that CMKM stock has been delisted and trading has been halted for several months now, one must ask the question- Why so much fuss over this issue? Many so called experts have chided you for your investment in this stock. Many have said this company was nothing more than a well orchestrated pump and dump. I congratulate you for remaining steadfast in the face of unusual circumstances. Urban continues to financially support your efforts and he is supportive of the task force. We must identify all real shareholders in this company for a lawful distribution of the Entourage stock.
For those that do not have your certs at this point, I am hopeful you will receive them shortly. It is clear to us that the certs in Cede and Company at this time are limited in number. The transfer agent says she is caught up for the most part with the requests that have been made to her for certs.
My office has had many conversations with various people at the DTCC since the first of the week. There were discussions of putting a “chill” on this stock. As I understand this term, the DTCC has the authority to refuse to honor requests for certs by the DTCC participants or issue certs to shareholders or its participants from its vault under certain circumstances. The DTCC requested additional time because of some late cert returns from the transfer agent. It was apparent to them that some shareholders would not have received their certs in order to participate in the Entourage distribution if the March 15th deadline was a final date. There have been no discussions about settlements or payouts as many have theorized. The discussions revolved around timely and orderly distributions and how the DTCC could work with their participants to get all the certs issued from their vault.
Many of you know that we received a visit in our office by an Etrade rep today. This rep personally hand delivered copies of approximately 4000 certs. We understand Etrade has had problems with a certain delivery service and the company felt it necessary to make sure these documents reached us timely. We ask that all of you examine your certs for accuracy and allow us time (a week or two) before calling to confirm receipt of your certs. Feel free to go through the confirmation procedures on the CMKM task force site at any time but allow for some inputting time since we have just received these certs today along with thousands of other fax-ins and mail-ins.
We have heard from Goldman Sachs, Oppenheimer and Schwabb among others, regarding the problems they were having in making the deadline which had been previously set by the task force.
We are carefully documenting complaints by many shareholders who received their certs which were issued in incorrect amounts. We are hearing from shareholders who have only recently learned of this shareholder identification process. Several shareholders called their brokers after hearing of this cert pull only to learn that their share positions were wiped out as “worthless securities”. We are following the process they are going through to have their accounts reinstated and obtaining certs for those shares. Of course we will continue our efforts to help those that have not yet received their certs.
I look forward to updating you more on the matters that I expect to come out in the press release when that press release occurs.
Onward!
Bil
602 S. Broadway
Tyler, Texas 75701
(903)595-1921
Greetings CMKX Owners Group members,
I have decided to give you an update on certain matters at this time. I have been waiting for the official press release from the company but apparently there are some problems in getting the release to the wire service as planned. It is 5:00 pm on the West Coast so you may still receive the information before the work day is over. I was asked for input on certain significant parts of the press release but I have not seen the final draft.
This week has been hectic but very interesting as I observed the activities of the brokers and other related parties. When you consider that CMKM stock has been delisted and trading has been halted for several months now, one must ask the question- Why so much fuss over this issue? Many so called experts have chided you for your investment in this stock. Many have said this company was nothing more than a well orchestrated pump and dump. I congratulate you for remaining steadfast in the face of unusual circumstances. Urban continues to financially support your efforts and he is supportive of the task force. We must identify all real shareholders in this company for a lawful distribution of the Entourage stock.
For those that do not have your certs at this point, I am hopeful you will receive them shortly. It is clear to us that the certs in Cede and Company at this time are limited in number. The transfer agent says she is caught up for the most part with the requests that have been made to her for certs.
My office has had many conversations with various people at the DTCC since the first of the week. There were discussions of putting a “chill” on this stock. As I understand this term, the DTCC has the authority to refuse to honor requests for certs by the DTCC participants or issue certs to shareholders or its participants from its vault under certain circumstances. The DTCC requested additional time because of some late cert returns from the transfer agent. It was apparent to them that some shareholders would not have received their certs in order to participate in the Entourage distribution if the March 15th deadline was a final date. There have been no discussions about settlements or payouts as many have theorized. The discussions revolved around timely and orderly distributions and how the DTCC could work with their participants to get all the certs issued from their vault.
Many of you know that we received a visit in our office by an Etrade rep today. This rep personally hand delivered copies of approximately 4000 certs. We understand Etrade has had problems with a certain delivery service and the company felt it necessary to make sure these documents reached us timely. We ask that all of you examine your certs for accuracy and allow us time (a week or two) before calling to confirm receipt of your certs. Feel free to go through the confirmation procedures on the CMKM task force site at any time but allow for some inputting time since we have just received these certs today along with thousands of other fax-ins and mail-ins.
We have heard from Goldman Sachs, Oppenheimer and Schwabb among others, regarding the problems they were having in making the deadline which had been previously set by the task force.
We are carefully documenting complaints by many shareholders who received their certs which were issued in incorrect amounts. We are hearing from shareholders who have only recently learned of this shareholder identification process. Several shareholders called their brokers after hearing of this cert pull only to learn that their share positions were wiped out as “worthless securities”. We are following the process they are going through to have their accounts reinstated and obtaining certs for those shares. Of course we will continue our efforts to help those that have not yet received their certs.
I look forward to updating you more on the matters that I expect to come out in the press release when that press release occurs.
Onward!
Bil
