5 Star Post by BELLINGUS!!
« Thread Started on Today at 11:04am »
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By: Bellingus
02 May 2007, 11:04 AM EDT
Msg. 21185 of 21196
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Stuff to ponder...
It seems that certain ppl once associated with CMKX, possibly as early seed capital investors, had a long history of market manipulation, stock fraud, along with both generic and specific plundering of small cap stocks. This activity allegedly went on for many years and cost the investing public and certain legitimate small cap companies billions of dollars.
Not for a minute do I pretend to know the identities of these ppl, but it may be possible that this organized group found their way to the inside of a company many have come to know and love.
Back in the early days of the company, when Urban was out there looking for capital to maintain the allegedly valuable claims he’d found, it seems some of these ppl appeared and offered to help him. And as most modern day business goes, certain papers were drawn up. These papers served many purposes. They were a combination of business plan, a contract defining specific duties of company officers and investors, and they also served as documentation for the purpose of allowing the company to trade in the market. This documentation is known as a 14C filing.
Among the details outlined in the papers, were the number of shares that certain investors would hold along with the shares company managers would hold. In this case, “unnamed” investors would hold more than 85% of the shares in the company. Also in the details of this paperwork was the provision that the investors would remain anonymous unless they were called into particular court proceedings. That’s an important provision.
There’s been a lot of discussion as to why the shareholders were never asked to vote on anything having to do with CMKX. Well, according to the mathematical breakdown of the shares from the very start, the shareholders could never have a majority because invisible investors already had that. There has also been talk that Urban must have had a majority steak in the company because he was calling the shots. That ain’t the case either. I believe what happened was the invisible majority convened, perhaps on the phone, and called a board meeting. They then appointed Urban as the day-to-day decision maker. That’s another important point.
So now we have a group of invisible investors who have provided seed capital for an upstart mining exploration company and given decision making power to the guy who had found certain valuable claims – at least some ppl believed there were valuable claims.
Now, it’s been rumored and held out by many that the ppl who invested in the early going had been part of a group of market operators who had been plundering small companies and retail investors for years. I have no first hand information of that. Either way, these very ppl now have more than 85% control of a potentially valuable company and have given decision-making powers to Urban. That’s pretty important too.
What came after everything was in place was later to be known as the “race pump.” Ah, the glorious days of the race pump. Billions and billions of shares served. A good time was had by all. I sure enjoyed my visit to the races in the summer of 04.
It would be interesting to look at who was on board at that time working with Urban and CMKX. I believe we had a high-profile attorney back then who was once the chief of the stock police. The official name escapes me but I think it’s something like SEC Enforcement guy or something. And that guy is one of our attorneys/advisors. I’m not all that smart, but could it be that a person who had held such a position for a number of years might know the identities of certain looters and plunderers? Maybe so.
And that brings us back to the race pump. Stock was flying everywhere. Urban was living it up. And according to evidence that has recently surfaced, our CEO was not acting in the best interest of the company or the shareholders. So here are a few questions. Was he doing this because he was a dope? Was he doing this to make certain ppl he was close to at the time believe he was one of them? Was he just having a good time at the expense of the shareholders? Before you answer, remember that the one time chief of the stock police was on the sidelines watching all of this.
Now, we all know none of this was a sting. I don’t even know what that word means or even implies because it is very open-ended. Some have said that this little passion play we’ve witnessed over the last few years was designed to sweep the markets clean of all the rats and roaches. I never believed that. The market is too big and there are too many creeps out there and there ain’t enough lawmen in Dodge to get it done.
Some said it was designed to catch certain individuals who had, over many years, systematically created contracts similar to the one Urban entered into. Such contracts give real control to an invisible group and straw boss duties to a dupe. Then, if and when the spit hits the fan, the invisible investors disappear and the dupe takes the fall – unless, of course the dupe isn’t a dupe at all. Maybe the dupe is dumb like a fox. We may never know.
If I had to venture a guess, I’d say that when you have the ex-chief stock cop on your side calling the shots, you might be in pretty good shape.
So, did Urban do everything in the complaint? I don’t know. That complaint is a pretty strange assembly of stuff initself. If one wanted to be harsh, one could say UC was guilty. But guilty of what? Leading a group of alleged crooks to justice? Guilty of bad bookkeeping, self-dealing, writing checks out of the wrong account? Seems there’s a party also named in the complaint that was holding himself out as Urban’s financial advisor back in the day. If a financial advisor encourages a client to do something that later turns out to be unethical, immoral, or God forbid, illegal, who’s responsible? I don’t know, do you?
I originally bought into this company because I was naive enough to believe that a massive short squeeze was right around the corner. That was then and I’ve since come to learn that when so-called legit retail brokers, hedge funds, along with all varieties of other rats and roaches are allowed to sell air shares, and there are no official governing bodies willing to step up to stop it, there can be no real short squeeze.
But along the way I began to realize there might be some value in this company. And I began to look closer at that possibility. And I don’t mean that I mindlessly followed any of the pumpers on these silly boards. There are other ways to get real information without going outside of accepted, legitimate channels. Some of it might be conclusive and some just indicative of good results. And, there are actually a few ppl on the boards who can dig up some pertinent info as well - but recognizing it as such and applying it correctly is another thing. Anyway, I came to believe we actually had something. And that brings me to the close of my longest post ever.
If we have the value, none of the other stuff really matters. Ppl can argue that all of our claims are gone. Okay. But if any of the above stuff is true and there were ppl who stood to benefit if we went down, and we did actually have brilliant coaches, (the team) then I believe the claims are safe and that the “dupe” somehow managed (with a lot of help) to turn the tables on the players. Stay tuned for the final act. AMHO
LINK
ragingbull.quote.com/mboard/boards.cgi?board=CLB01247&read=21185 millionaires.proboards86.com/index.cgi?board=main&action=display&thread=1178121881