Post by John Winston Lennon O'Boogie on Apr 12, 2012 12:25:13 GMT -5
On Apr 12, 2012, at 10:36 AM, stevek wrote:
Jerry:
Mr. Frizzell bought the Virginia property from CMKM last year long before I got involved. The transaction was made to help the company fund expenses for the Roger Glenn trial, and for other reasons - such as the fact the company could not afford to pay the property taxes, etc.Â
The deed was not transferred in a timely fashion, but the sale occurred mid-2011. The transaction was made to help the company out of a cash bind, and was totally legitimate and necessary.Â
Concerned shareholders should wait and get the real facts before jumping to inappropriate conclusions. I will discuss this transaction in detail during the first webinar which will be announced Monday - I get my final training from Webex on Friday.Â
According to realtors I have spoken to, the Virginia tract would probably only sell for $150,000 in today's weak market. It is zoned residential, and positioned next to a neighborhood with abandoned slabs for houses that were never completed. One of the city's main employers closed down, and left the city of Franklin - creating a poor employment environment and weak housing market.
Again, Jerry - you should wait and ascertain the truth prior to making assumptions based on emotions. In spite of the fact that the sale of the property occurred prior to my involvement with CMKM, I can see the reasoning behind the sale, and support the transaction as a wise move at the time.
As I have told you before - many, many things have been done to keep this company afloat that shareholders don't know about or understand. The plan I have in place will result in a healthy CMKM - I have no doubt about that. However, you seem to think that the company should be "shut down". I can assure you that efforts to shut down this company, leaving the shareholders with nothing, will be met with extreme resistance. I already have invested too much effort and money to allow that to happen. To that threat, Jerry - I must tell you "no way"!
On the matter of my mere mention of "preferred shares" as one potential method of raining funds to test core samples - you have taken that comment and spun it into something unreasonable. Why do you insist on reacting this way, Jerry? I can assure you that any method I choose to raise the needed funds will be 100% legal and legitimate, and will in no way take any rights away from the existing Class C shareholders.Â
CMKM has the legal right to raise funds in numerous ways under federal law, and indeed WILL raise the needed funds to test the core samples regardless - period. This will be done for the long-term benefit of the company and shareholders, and any efforts to stop the fundraising will be met with extreme resistance.
The company meetings will begin in April as planned - Webex has been slow to get me trained, but have already billed me for their services. These online meetings will be informative, and will provide clarity to many questions that shareholders have. I am excited about getting them started.
As to the 2011 tax returns - we extended the filing due to some confusion in the books. My personal accountant is handling this now, and will file the return as soon as possible. I will post the return on the website when it is completed.
I am investing my time, energy, expertise, and cash into a huge effort to turn CMKM into something of value, Jerry. I hope you will focus your efforts in a positive direction, too. I recognize and appreciate your passion to protect shareholders. However, I feel that you are too quick to make false assumptions and threaten actions that are divisive and not helpful. Please get the facts before you react, Jerry.Â
Call me ant time if you want to discuss these matters.
Steve Kirkpatrick
Go get'em Steve, i find this as a very appropriate professional response from Steve
Read more: qbidtalk.proboards.com/index.cgi?board=general&action=display&thread=8839#ixzz1rqdXDkpZ
Jerry:
Mr. Frizzell bought the Virginia property from CMKM last year long before I got involved. The transaction was made to help the company fund expenses for the Roger Glenn trial, and for other reasons - such as the fact the company could not afford to pay the property taxes, etc.Â
The deed was not transferred in a timely fashion, but the sale occurred mid-2011. The transaction was made to help the company out of a cash bind, and was totally legitimate and necessary.Â
Concerned shareholders should wait and get the real facts before jumping to inappropriate conclusions. I will discuss this transaction in detail during the first webinar which will be announced Monday - I get my final training from Webex on Friday.Â
According to realtors I have spoken to, the Virginia tract would probably only sell for $150,000 in today's weak market. It is zoned residential, and positioned next to a neighborhood with abandoned slabs for houses that were never completed. One of the city's main employers closed down, and left the city of Franklin - creating a poor employment environment and weak housing market.
Again, Jerry - you should wait and ascertain the truth prior to making assumptions based on emotions. In spite of the fact that the sale of the property occurred prior to my involvement with CMKM, I can see the reasoning behind the sale, and support the transaction as a wise move at the time.
As I have told you before - many, many things have been done to keep this company afloat that shareholders don't know about or understand. The plan I have in place will result in a healthy CMKM - I have no doubt about that. However, you seem to think that the company should be "shut down". I can assure you that efforts to shut down this company, leaving the shareholders with nothing, will be met with extreme resistance. I already have invested too much effort and money to allow that to happen. To that threat, Jerry - I must tell you "no way"!
On the matter of my mere mention of "preferred shares" as one potential method of raining funds to test core samples - you have taken that comment and spun it into something unreasonable. Why do you insist on reacting this way, Jerry? I can assure you that any method I choose to raise the needed funds will be 100% legal and legitimate, and will in no way take any rights away from the existing Class C shareholders.Â
CMKM has the legal right to raise funds in numerous ways under federal law, and indeed WILL raise the needed funds to test the core samples regardless - period. This will be done for the long-term benefit of the company and shareholders, and any efforts to stop the fundraising will be met with extreme resistance.
The company meetings will begin in April as planned - Webex has been slow to get me trained, but have already billed me for their services. These online meetings will be informative, and will provide clarity to many questions that shareholders have. I am excited about getting them started.
As to the 2011 tax returns - we extended the filing due to some confusion in the books. My personal accountant is handling this now, and will file the return as soon as possible. I will post the return on the website when it is completed.
I am investing my time, energy, expertise, and cash into a huge effort to turn CMKM into something of value, Jerry. I hope you will focus your efforts in a positive direction, too. I recognize and appreciate your passion to protect shareholders. However, I feel that you are too quick to make false assumptions and threaten actions that are divisive and not helpful. Please get the facts before you react, Jerry.Â
Call me ant time if you want to discuss these matters.
Steve Kirkpatrick
Go get'em Steve, i find this as a very appropriate professional response from Steve
Read more: qbidtalk.proboards.com/index.cgi?board=general&action=display&thread=8839#ixzz1rqdXDkpZ