Post by soonerlew on Dec 16, 2007 12:30:35 GMT -5
www.cmkxgroup.proboards88.com/index.cgi?board=general&action=display&thread=1197783888seagull
Board Addict
Re: gossip 12/16/07
« Reply #7 on Today at 10:07am »
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before reading this post... remember that the reason they originally filled out the form 15 saying there were less than 300 members could be that electronic stocks belong to the brokerages unless you have a paper cert saying it belongs to an individual... so how false is that?? doesn't seem so to me ....
JMO -seagull
_________________________________________
reposted by passinthru3 .......
millionaires.proboards86.com/index.cgi?board=main&action=display&thread=1197812626
response from Bill Frizzel
« Thread Started on Today at 8:43am »
--------------------------------------------------------------------------------
A response from Bill Frizzell to a question by jay_adobe on the CMKI board.....
By: MAILMAN1
16 Dec 2007, 07:33 AM EST
Msg. 633513 of 633514
(This msg. is a reply to 633076 by jay_adobe.)
Jump to msg. #
jay_adobe and ALL a response from Bill Frizzell on your question post#633076....
I asked for a response(bottom of post) to this question and his response was.....
From:bfrizzell@tyler.net
Date: 12/15/2007 5:17:48 P.M. Eastern Standard Time
To:XXXXXXXXXXXXXXXXXXXXXXX
Subject RE:RESPONSE PLEASE
I never have understood why (out of 40 or 50 thousand) you and a handful of shareholders take every opportunity to be critical of Kevin and so quick to “demand answers” to your questions. You are not the first person to send me this question. The other shareholders were at least very respectful and simply confessed their ignorance of the distinction between a private and public company.
Your third question says Kevin’s remarks are brash and outlandish. What a ridiculous statement. Did you do any research on your own before you hopped on the unhappy person’s bandwagon and started “demanding answers” from the company? If you had done even a small amount of research you could have answered the question yourself without trying to attack Kevin.
It is a private company because it is not publicly traded. I own certs in several private companies. Because a company issues you a certificate does not mean that company is a public company. Our previous management broke every federal securities law there is about filing audited financials. They filed a false form 15 with the SEC saying the company had less than 300 shareholders when the company had thousands of shareholders so they could avoid reporting the sad state of affairs that would have to be revealed by a public company. UC and his management team made a conscious decision that it would be better to be private than a public company so they would not have to reveal through audited financials all the fraud that was going on. That is the only reason this company is private. In fact it has been private since the SEC delisted the securities in 2005. We did not choose to go private, our right to trade in the public market was taken from us due to mismanagement by the company.
Kevin has a very ambitious plan to try to bring this company back to trading. If he succeeds (and I believe he will) the company will no longer be private. It will be a public company again.
Read the following article about public vs. private companies. You might be amazed at how many huge corporations are private. Mars-you know the candy bar company with 33,000 employees- is private.
Wikipedia gets the credit for the following information:
A public company usually refers to a company that is permitted to offer its securities (stock, bonds, etc.) for sale to the general public, typically through a stock exchange.
Usually, the securities of a public company are owned by many investors while the shares of a private company are owned by relatively few shareholders. However, a company with many shareholders is not necessarily a public company. For example, in the United States, in some instances, companies with over 500 shareholders may be required to report under the Securities Exchange Act of 1934; companies that report under the 1934 Act are generally deemed public companies. The first company to issue shares is thought to be the Dutch East India Company in 1602.
The term "public company" may also refer to a government-owned corporation. This meaning of a "public company" comes from the tradition of public ownership of assets and interests by and for the people as a whole (public ownership), and is the less-common meaning in the United States.
"Publicly owned company" can also have either meaning, although in the United Kingdom it will usually be interpreted as meaning a company in the public sector (being owned by national, regional or local government). The term "public limited company" or simply "PLC" would be used to unambiguously refer to a publicly-traded company in the private sector.
[edit] Public versus private companies
A public company has several advantages. It is able to raise funds and capital through the sale of its securities. This is the reason why public corporations are so important: prior to their existence, it was very difficult to obtain large amounts of capital for private enterprises. In addition to being able to easily raise capital, public companies may issue their securities as compensation for those that provide services to the company, such as their directors, officers, and employees. While private companies may also issue their securities as compensation for services, the recipients of those securities often have difficulty selling them on the open market. Securities from a public company typically have an established fair market value at any given time as determined by the price the security is sold for on the stock exchange where the security is traded.
A private company also has several advantages. It has no requirement to publicly disclose much, if any financial information; such information could be useful to competitors. For example, Form 10-K is an annual report required by the SEC each year that is a comprehensive summary of a company's performance. Private companies do not file form 10-Ks. It is less pressured to "make the numbers"—to meet quarterly projections for sales and profits, and thus in theory able to make decisions that are best in the long-run. It spends less for certified public accountants and other bureaucratic paperwork required of public companies by government regulations. For example, the Sarbanes-Oxley Act in the United States does not apply to private companies. The wealth and income of the owners remains relatively unknown by the public.
The norm is for new companies, which are typically small, to be privately owned. After a number of years, if a company has grown significantly and is profitable, or has promising prospects, there is often an initial public offering which converts the private company into a public company or an acquisition of a company by public company. Yet, some companies choose to remain private for a long period of time after maturity into a profitable company. Investment banking firm Goldman Sachs and shipping services provider United Parcel Service (UPS) are examples of profitable companies which remained private company for many years after maturing into profitable companies.
Less common, but not unknown, is for a public company to pay cash to its shareholders and become private. This is typically done through a leveraged buyout and occurs when the buyers believe the securities have been undervalued by investors. Public companies can also become private when purchased by a larger company that is private.
[edit] Trading and valuation
The shares of a public company are often traded on a stock exchange. The value or "size" of a public company is called its market capitalization, a term which is often shortened to "market cap". This is calculated as the number of shares outstanding (as opposed to authorized but not necessarily issued) times the price per share. For example, a company with two million shares outstanding and a price per share of US$40 would have a market capitalization of US$80 million. However, a company's market capitalization should not be confused with the fair market value of the company as a whole since the price per share are influenced by other factors such as the volume of shares traded.
Bill
From: XXXXXXXXXXXXX
Sent: Saturday, December 15, 2007 11:08 AM
To: bfrizzell@tyler.net
Subject: RESPONSE PLEASE
In the latest update, Mr. West specifically stated "...this is a private company..." How can this be? When did we go private? If our CEO states we are private, should not there be documentation to prove such outlandish and brash statements toward 40K+ shareholders who have certificates who believe they are part of a public company? Is that statement a truth or an untruth
www.cmkxgroup.proboards88.com/index.cgi?board=general&action=display&thread=1197783888
Board Addict
Re: gossip 12/16/07
« Reply #7 on Today at 10:07am »
--------------------------------------------------------------------------------
before reading this post... remember that the reason they originally filled out the form 15 saying there were less than 300 members could be that electronic stocks belong to the brokerages unless you have a paper cert saying it belongs to an individual... so how false is that?? doesn't seem so to me ....
JMO -seagull
_________________________________________
reposted by passinthru3 .......
millionaires.proboards86.com/index.cgi?board=main&action=display&thread=1197812626
response from Bill Frizzel
« Thread Started on Today at 8:43am »
--------------------------------------------------------------------------------
A response from Bill Frizzell to a question by jay_adobe on the CMKI board.....
By: MAILMAN1
16 Dec 2007, 07:33 AM EST
Msg. 633513 of 633514
(This msg. is a reply to 633076 by jay_adobe.)
Jump to msg. #
jay_adobe and ALL a response from Bill Frizzell on your question post#633076....
I asked for a response(bottom of post) to this question and his response was.....
From:bfrizzell@tyler.net
Date: 12/15/2007 5:17:48 P.M. Eastern Standard Time
To:XXXXXXXXXXXXXXXXXXXXXXX
Subject RE:RESPONSE PLEASE
I never have understood why (out of 40 or 50 thousand) you and a handful of shareholders take every opportunity to be critical of Kevin and so quick to “demand answers” to your questions. You are not the first person to send me this question. The other shareholders were at least very respectful and simply confessed their ignorance of the distinction between a private and public company.
Your third question says Kevin’s remarks are brash and outlandish. What a ridiculous statement. Did you do any research on your own before you hopped on the unhappy person’s bandwagon and started “demanding answers” from the company? If you had done even a small amount of research you could have answered the question yourself without trying to attack Kevin.
It is a private company because it is not publicly traded. I own certs in several private companies. Because a company issues you a certificate does not mean that company is a public company. Our previous management broke every federal securities law there is about filing audited financials. They filed a false form 15 with the SEC saying the company had less than 300 shareholders when the company had thousands of shareholders so they could avoid reporting the sad state of affairs that would have to be revealed by a public company. UC and his management team made a conscious decision that it would be better to be private than a public company so they would not have to reveal through audited financials all the fraud that was going on. That is the only reason this company is private. In fact it has been private since the SEC delisted the securities in 2005. We did not choose to go private, our right to trade in the public market was taken from us due to mismanagement by the company.
Kevin has a very ambitious plan to try to bring this company back to trading. If he succeeds (and I believe he will) the company will no longer be private. It will be a public company again.
Read the following article about public vs. private companies. You might be amazed at how many huge corporations are private. Mars-you know the candy bar company with 33,000 employees- is private.
Wikipedia gets the credit for the following information:
A public company usually refers to a company that is permitted to offer its securities (stock, bonds, etc.) for sale to the general public, typically through a stock exchange.
Usually, the securities of a public company are owned by many investors while the shares of a private company are owned by relatively few shareholders. However, a company with many shareholders is not necessarily a public company. For example, in the United States, in some instances, companies with over 500 shareholders may be required to report under the Securities Exchange Act of 1934; companies that report under the 1934 Act are generally deemed public companies. The first company to issue shares is thought to be the Dutch East India Company in 1602.
The term "public company" may also refer to a government-owned corporation. This meaning of a "public company" comes from the tradition of public ownership of assets and interests by and for the people as a whole (public ownership), and is the less-common meaning in the United States.
"Publicly owned company" can also have either meaning, although in the United Kingdom it will usually be interpreted as meaning a company in the public sector (being owned by national, regional or local government). The term "public limited company" or simply "PLC" would be used to unambiguously refer to a publicly-traded company in the private sector.
[edit] Public versus private companies
A public company has several advantages. It is able to raise funds and capital through the sale of its securities. This is the reason why public corporations are so important: prior to their existence, it was very difficult to obtain large amounts of capital for private enterprises. In addition to being able to easily raise capital, public companies may issue their securities as compensation for those that provide services to the company, such as their directors, officers, and employees. While private companies may also issue their securities as compensation for services, the recipients of those securities often have difficulty selling them on the open market. Securities from a public company typically have an established fair market value at any given time as determined by the price the security is sold for on the stock exchange where the security is traded.
A private company also has several advantages. It has no requirement to publicly disclose much, if any financial information; such information could be useful to competitors. For example, Form 10-K is an annual report required by the SEC each year that is a comprehensive summary of a company's performance. Private companies do not file form 10-Ks. It is less pressured to "make the numbers"—to meet quarterly projections for sales and profits, and thus in theory able to make decisions that are best in the long-run. It spends less for certified public accountants and other bureaucratic paperwork required of public companies by government regulations. For example, the Sarbanes-Oxley Act in the United States does not apply to private companies. The wealth and income of the owners remains relatively unknown by the public.
The norm is for new companies, which are typically small, to be privately owned. After a number of years, if a company has grown significantly and is profitable, or has promising prospects, there is often an initial public offering which converts the private company into a public company or an acquisition of a company by public company. Yet, some companies choose to remain private for a long period of time after maturity into a profitable company. Investment banking firm Goldman Sachs and shipping services provider United Parcel Service (UPS) are examples of profitable companies which remained private company for many years after maturing into profitable companies.
Less common, but not unknown, is for a public company to pay cash to its shareholders and become private. This is typically done through a leveraged buyout and occurs when the buyers believe the securities have been undervalued by investors. Public companies can also become private when purchased by a larger company that is private.
[edit] Trading and valuation
The shares of a public company are often traded on a stock exchange. The value or "size" of a public company is called its market capitalization, a term which is often shortened to "market cap". This is calculated as the number of shares outstanding (as opposed to authorized but not necessarily issued) times the price per share. For example, a company with two million shares outstanding and a price per share of US$40 would have a market capitalization of US$80 million. However, a company's market capitalization should not be confused with the fair market value of the company as a whole since the price per share are influenced by other factors such as the volume of shares traded.
Bill
From: XXXXXXXXXXXXX
Sent: Saturday, December 15, 2007 11:08 AM
To: bfrizzell@tyler.net
Subject: RESPONSE PLEASE
In the latest update, Mr. West specifically stated "...this is a private company..." How can this be? When did we go private? If our CEO states we are private, should not there be documentation to prove such outlandish and brash statements toward 40K+ shareholders who have certificates who believe they are part of a public company? Is that statement a truth or an untruth
www.cmkxgroup.proboards88.com/index.cgi?board=general&action=display&thread=1197783888
