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Post by Franko10 ™ on Mar 10, 2005 9:28:25 GMT -5
From my board partner on 31 Dave This is from a friend: I have been saying for a long time that things are happening behind the scenes that we may not see or understand fully but it was obvious that CMKX was in some kind of reorganization. If you click on the first link you can see that CMKX identified by the CUSIP number and symbol we have in our accounts is being deleted in accordance with section 12K. I had no idea what section 12 K was. But all along I had said that the naked short in CMKX was so big that it could cause Wall Street to crumble. . On the second link you will find out what section 12 K is. Wow! It is an emergency provision for the stability of the markets in response to September 9-11. This is not some little provision to protect investors from a late filing or a scam penny stock. This is related to national security because of who may have shorted it and the amount of reparations due to investors. This is big. I have no clue exactly how this will work out but my instincts are leaning towards CMKX not trading again as CMKX (that is patently obvious according to this paper trail), and that a buyout offer will be made. Now tender offers traditionally need to have advance notice and all kinds of filings but this 12K makes those rules not apply. So I expect to see a buyout and I expect it to be good. I hesitate to say how good it may be. I think a penny would be pretty good. If you have ever had that kind of return on a short term investment congratulations. I think anything significantly better would be very good. And you may need an oxygen tank nearby if the rumored buyout price is correct. There are still meetings going on and things may change but CMKX is a real company with real value so if trading resumes don't be tricked into selling too much, too soon. You can see that behind the scenes CMKC brought in a lawyer with an SEC background. Then another lawyer with an FBI and CIA background who specialized in buyout offers when working for Howard Hughes. This ought to make a great movie someday. www.nscc.com/p-notices/otc-notices/2005/otc042-05.htmwww.sec.gov/rules/other/34-44791.htm |
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Post by Franko10 ™ on Mar 10, 2005 9:36:40 GMT -5
DELETE
125809103
CMKX
CMKM DIAMONDS INC (SEC 12K)
03/03/2005
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Post by Franko10 ™ on Mar 10, 2005 9:44:54 GMT -5
EMERGENCY ORDER PURSUANT TO SECTION 12(k)(2) OF THE SECURITIES EXCHANGE ACT OF 1934 TAKING TEMPORARY ACTION TO RESPOND TO MARKET DEVELOPMENTS
The United States securities markets are the world's strongest and most vibrant. The Commission has full confidence that the attacks of September 11, 2001, will have little lasting market impact. To that end, the Commission seeks to serve investors and the markets through all available means to facilitate the reopening of fair and orderly markets.
Section 12(k)(2) of the Securities Exchange Act of 1934 ("Exchange Act") grants the Commission the authority, in the event of certain major market disturbances, to issue summarily orders to alter, supplement, suspend, or impose requirements or restrictions with respect to matters or actions subject to regulation by the Commission. On September 11, 2001, the U.S. equities and options markets determined not to open in light of the attacks that morning. The U.S. equities and options markets have remained closed since then. Based on all available information, the Commission has determined that:
(1) Uncertainty concerning the impact of the closure of the U.S. equities and options markets constitutes a major market disturbance characterized by "sudden and excessive fluctuations of securities prices generally, or a substantial threat thereof, that threatens fair and orderly markets."1 In particular, the Commission seeks to ensure that, when the U.S. equities and options markets reopen for trading, they will not be confronted with undue order imbalances.
(2) Purchases by registrants of their own securities can represent an important source of liquidity during times of market volatility. Registrants may be reluctant to engage in such purchases, however, because of certain securities law requirements. In particular, Exchange Act Rule 10b-18 provides registrants with a safe harbor to effect repurchases, but only if the repurchases meet the conditions specified in the Rule. Certain registrants that recently engaged in or initiated business combinations that otherwise qualify for pooling-of-interests treatment under generally accepted accounting principles also may be reluctant to effect repurchases. In this regard, Regulation S-X, Article 4 (Rules of General Application), Part 4-01, provides in pertinent part that, "Financial statements filed with the Commission which are not prepared in accordance with generally accepted accounting principles will be presumed to be misleading or inaccurate, despite footnote or other disclosures, unless the Commission has otherwise provided."
(3) The Commission understands that some registrants may have internal policies relating to purchases of the registrant's securities during specific time periods. These policies are designed to prevent violations of the antifraud provisions of the federal securities laws. While the antifraud provisions remain in effect, a registrant's failure to comply with those timing policies for purchases by the registrant of its securities during the period covered by the Order will not by itself be considered as any indication that the registrant may have violated the antifraud provisions. In addition, certain persons may refrain from purchase activity that otherwise serves the public interest because of concern about potential profit recovery under Section 16(b) of the Exchange Act.
(4) Temporary action with respect to the conditions of Rule 10b-18, the application of Article 4 of Regulation S-X,2 and the operation of certain other provisions of the federal securities laws will provide additional flexibility and certainty to registrants and others that consider engaging in purchases of securities when the U.S. equities and options markets reopen for trading. Accordingly, these temporary measures are in the public interest and for the protection of investors in order to maintain or restore fair and orderly securities markets.
Therefore, IT IS ORDERED, pursuant to Section 12(k)(2) of the Exchange Act, that,
In connection with a Rule 10b-18 purchase3 or with a Rule 10b-18 bid that is made during the period covered by this Order by the use of any means or instrumentality of interstate commerce or of the mails, or of any facility of any national securities exchange, an issuer, or an affiliated purchaser of the issuer, shall not be deemed to have violated Section 9(a)(2) of the Exchange Act or Rule 10b-5 under the Exchange Act, solely by reason of the time or price at which its Rule 10b-18 bids or Rule 10b-18 purchases are made or the amount of such bids or purchases or the number of brokers or dealers used in connection with such bids or purchases if the issuer or affiliated purchaser of the issuer meets all of the conditions in Rule 10b-18, with the exception that:
(i) The timing condition in paragraph (b)(2) may be satisfied if the issuer makes Rule 10b-18 purchases without regard to whether any such Rule 10b-18 purchase constitutes the opening transaction in a reported or exchange traded security or whether any such purchase would occur during the one-half hour before the scheduled close of trading on the primary market for such security; and
(ii) The volume condition in paragraph (b)(4) may be satisfied if the issuer makes all Rule 10b-18 purchases other than block purchases of a reported or exchange traded security in an amount that, when added to the amount of all other Rule 10b-18 purchases, other than block purchases, from or through a broker or dealer effected by or for the issuer or an affiliated purchaser of the issuer on that day, does not exceed 100 percent of the trading volume (determined on the basis of the 4 calendar weeks preceding the week beginning on September 10, 2001) for the security; and
IT IS FURTHER ORDERED that,
Notwithstanding the pooling-of-interests provisions in Accounting Principles Board Opinion No. 16, Business Combinations, and the related interpretations of the American Institute of Certified Public Accountants, consensuses of the Financial Accounting Standards Board's Emerging Issues Task Force, rules and regulations of the Commission and interpretations by its staff, and other authoritative accounting guidance, acquisitions by registrants of their own equity securities during the period covered by this Order will not affect the availability of pooling-of-interests accounting and, accordingly, a registrant's financial statements will not be misleading or inaccurate solely because the registrant has engaged in such purchases and has accounted for its business combination transactions as a pooling of interests; and
IT IS FURTHER ORDERED that,
Notwithstanding the profit recovery provisions of Section 16(b) of the Exchange Act and the rules adopted under it, any purchase during the period covered by this Order by a person subject to Section 16 shall be exempt from the operation of that section with respect to any sale by that person during the preceding six months, and accordingly shall not be matched with such sale. The purchase continues to be reportable on Form 4 under Section 16(a) of the Exchange Act. The Form 4 should use transaction code "J" and describe the transaction in a footnote, making specific reference to this Order; and
IT IS FURTHER ORDERED that,
Broker-dealers need not treat the 11th, 12th, 13th and 14th of September, 2001 as business or calendar days for purposes of calculating charges or taking actions under Rules 15c3-1 and 15c3-3 arising from failed transactions or imbalances in securities accounting systems, or for the purposes of FOCUS reporting; and
IT IS FURTHER ORDERED that,
Broker-dealers that are required to do a reserve computation (including PAIB) for the week ending September 14, 2001 under Rule 15c3-3 will not be required to do such a computation, provided they do not withdraw money from their reserve bank account without first doing a computation.
This Order shall be effective with respect to the five business days beginning on the date of the first reopening of trading on the U.S. equities and options markets after September 11, 2001.
By the Commission
Jonathan G. Katz
Secretary
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Post by Franko10 ™ on Mar 10, 2005 9:50:47 GMT -5
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GEORGE BUSH
Diamond Miner
shorters beware" your shorts are down"...
Posts: 345
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Post by GEORGE BUSH on Mar 10, 2005 10:00:22 GMT -5
THIS MEANS LITTLE TO NOTHING...  |
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Post by Franko10 ™ on Mar 10, 2005 10:04:11 GMT -5
THIS MEANS LITTLE TO NOTHING... Every Company that is "suspended" by the SEC is suspended pursuant to Section 12 K of the SEC act of 1934. Unfortunately, whoever started posting those two links together did so incorrectly. Section12 K is the regulation that gives the SEC authority to suspend a company from trading for a multitude of reasons, one being the emergency order 12(k)(2) that was required in order to suspend trading after 9/11. The SEC link that was posted with the NSCC Delete listing is simply a commission notice...the equivalent of the PR notice the SEC issued when CMKX was suspended. I suspect the NSCC shows it as a system delete since the symbol is no longer active on the market. The reason cmkx is given a reason and the others listed as Deletes are not is because it is temporary. If you research the others listed with CMKX on the NSCC listing, they have either merged, gone private or folded up. If you go to www.sec.gov/about/laws/sea34.pdf. , you can retrieve the entire regulation of Section 12 K and will note that subsection 2 is the only part that applies to the emergency perspective that was used to authorize the SEC to close the market for 9/11, and that this twist has been spun against. You can also pull up all previous suspensions, www.sec.gov/litigation/suspensions.shtml and cross match them to the respective nscc listing, most if not all reference 12K unless they never returned or expected to resume trading under that ticker. www.nscc.com/p-notices/otc-notices/2004/ If you change 2004 to 2005 at the end of that URL, you can pull the index for all 2005 notices. Although anything is possible with this stock, including a TO or never trading again, it is not reflected, substantiated or justified by the linkages of those two web sites. Posted by a newer member on the millionaire board as well. cj45 DIAMOND DIGGER |
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