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Post by mojobean on Sept 18, 2010 2:58:08 GMT -5
Let's hope this snowball turns into an avalanche...soon.
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Post by miroslav on Sept 18, 2010 7:00:10 GMT -5
I think this timing smacks Al in face with dead fish. Tyler saying, you believe fairy tale..here is actual result. Keep dreaming or face reality..
In end, we all wake up..
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Post by sake321 on Sept 18, 2010 7:22:56 GMT -5
Didn't I say something about Taxes in another post
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Post by NobleForce2 on Sept 18, 2010 8:00:29 GMT -5
I think this timing smacks Al in face with dead fish. Tyler saying, you believe fairy tale..here is actual result. Keep dreaming or face reality.. In end, we all wake up.. Get rid of this guy. He's like an awful movie.
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Post by lurknomore on Sept 18, 2010 8:10:54 GMT -5
Four pages, and still no one has asked, so I'll assume this must be a stupid question, BUT...
"Income - Gain/Loss on Sale of Asset" ... $26,966.80 So where's the income from the infamous sale to the Chinese?
Oh, and...
"Meals and Entertainment ( $113 ,031,50 CMKM shareholder party 2004)" Dang! How much did you people drink???
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Post by wewillwin on Sept 18, 2010 8:15:10 GMT -5
A few questions/comments re: CMKM Diamonds, Inc. financial statements: !)appears to be a considerable amount of cash--any reason why some of the liabilities were not paid with this cash? 2)Is there a reason why most of the monies are kept in a checking account? 3)are we accrueing interest receivable on the McFadden note? 4)the fixed assets-Virginia Land and Georgia land--are these book or market values? 5)Total assets=1547838.20, Total liabilities & Equity=1557838.20 a diff of 10000---??
I have lots of questions re: the P&L---but will hold those---also---a statement of Retained Earnings might be helpful in explaining why the profit/loss on the balance sheet(987921.01) is different than the P&L (<3359456.93>)
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Post by e362 on Sept 18, 2010 8:38:43 GMT -5
__________________________________________________________________________
Sept 14, 2010, 7:44am, sunbeam777 wrote:
gr8hiker: philm was posting that he heard from someone close to the scene that Al got a phone call and was told to prepare the refile over the weekend and AH was POed. __________________________________________________________________________
Interesting. If I remember correctly didn't someone or AH mention he had an inside source with the DTCC or one of those agencies? Could this be the person that let him know he had to refile? If so, nothing like a mole on the enemies team.
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Post by straighttalk on Sept 18, 2010 8:46:05 GMT -5
we cannot trade til we have been paid... what good would 50k shareholders be without any money.
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Post by hacksawjim on Sept 18, 2010 8:51:16 GMT -5
we cannot trade til we have been paid... what good would 50k shareholders be without any money. exactly what we are now. "refresh button masters" and broke. hack [all in fun]
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Post by humbledd on Sept 18, 2010 9:59:39 GMT -5
:)yes sir we are about to be paid!!!!!!!!!!!!!!!!!
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Post by Ed Jagacki on Sept 18, 2010 12:55:24 GMT -5
I think this is a major hit against arguments to the effect that CURRENT CMKM MGMT is not working with the welfare of the shareholders in mind. To get all this done, took an enormous amount of research and effort. ...and gjfromfla, you DO realize that current CMKM Management was NOT AROUND when insiders scammed and stole, don't you? Ed Ok, so why if they had nothing to do with old management would they want to continue a failed and corrupted business? What do they know about mining? Where on there website do they every discuss mining? They talk about cmkm law team a research and entertainment division??? Does debeers have An entertainment division? Buy billboards or or any other bs? If you think they care you are drinking some bad juice. I'm sorry but nothing is convincing right now of my interest. Do you? Show me proof? Wake up! I don't know what to believe I am a fan of Al because of the possibility but this company deserves nothing. Please rebut why would you invest with them? No GJ, I will have no such debate with you. Simply stated, Kevin and Bill had nothing to do with the company (except perhaps, as shareholders), and so, they are no more responsible for the thievery and manipulation that took place before revocation than you or I. As far as investing with them in the future, I haven't thought that far ahead. ...and they have NOT indicated one way or another if the future direction of the company is going to be mining-oriented. Just the same, our anger of the past should not be a license to abuse individuals who were NOT responsible for wshat happened. Ed
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Post by imSINGLEruRICH on Sept 18, 2010 19:49:21 GMT -5
I think this timing smacks Al in face with dead fish. Tyler saying, you believe fairy tale ..here is actual result. Keep dreaming or face reality.. In end, we all wake up.. Thoughts on Tyler's Update.....from the Fish & "Chips" board....gregg Fish Head Re: Tyler Update~Taxes Filed « Reply #31 Today at 7:21pm » The thing I'm questioning is, why? They've spent 4-5 years and intend to keep on, spent how many dollars to preserve how much value. And at this point there is no business, it's basically a bankruptcy estate without the bankruptcy. Look at the per share valuations, and add up how much you have for all the effort, grief, aggravation and assess where you could be if you took the same amount and bought stock in a real company. If even the billion share people are looking at less than $1200, really, why not buy stocks in a company with a product, revenue, a business plan etc.... Even if they get all the paperwork in order to what purpose does it serve to relist the stock and get it trading again? What would you do, sell it? Right now, the numbers in my post above are NAVPS, a blue chip NYSE listed stock ofter trades at a figure that is a fraction of that number (granted, a hot company often trades at a multiple of that figure, but we can hardly call CMKM a hot stock right now). From what I gather, the guys with a billion shares are the big swinging richards on the shareholders list, and they've got a less than Hodges pays a month lease on his office space among them. I gotta tell you, as a accountant I cannot for the life of me see why no one took this company into bankruptcy years ago, if there is any money left, the shareholders would still get it, less would have been spent maintaining the shell of the company and if nothing else the complete circus it's become would have been avoided. At best, and you'd need a business plan and some idea of what the company wants to do to make profits, you have a startup with $25,000 cash, a few pieces of vacant land in Virgina and Georgia and claims against the crooks who stole $22 Million but don't have a pot to piss in to pay it back. I know there's $120,000 in the checking account but I'm assuming that since it's not only the biggest part of cash on hand but that it's in a non interest bearing account that it's earmarked for some current expenses. Oh, wait, I went back to check that and the current liabilities is $310K and change, so that wipes out not only the checking account but also the $25K, the company meets the legal definition of bankrupt now. Are they gonna sell the land they got? I don't recall how they came across it, either? They should try to get rid of it, the property taxes on it are going to be a drain on cashflow.... I don't mean to bust anyone's bubble, but this isn't the smartass who makes fun of the "we're gonna be rich" crowd, this is the CPA, MBA, PhD International Business, guy who made a lot of money running businesses....and that guy says fold up the tent, sell the remaining assets and go find a better mousetrap. There ain't no money here. Unless of course, your own personal plan is to get back to trading so you can dump your shares on someone who is willing to pay near what you paid for them, or what we called in business school, "the next bigger fool" and if so, blessed be, but I gotta tell you it involves prolly ripping someone off and trying to sell the stock of this company in the condition it's in would be irresponsible even if it's not illegal. In my opinion... Okay, I'm sure I made some enemies with that, but I'm just callen' 'em how I see 'em.
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Post by imSINGLEruRICH on Sept 18, 2010 19:59:56 GMT -5
bluetripp Diamond Hunter Interesting Comment on CMKM financial statement « Thread Started Today at 5:07pm » -------------------------------------------------------------------------------- millionaires.proboards.com/index.....ay&thread=34122Elwood P. Dowd Today at 12:37pm, witchywoman0757 wrote: Several people are asking if the financials were done by CPA or in house. This is from the CMKM/Tyler update on 6/25/2010: millionaires.proboards.com/index.....ay&thread=32641Currently, there have been a few small settlements won by CMKM that have enabled the Company the ability to continue forward with litigation, budget the initial and monthly fees of hiring the new transfer agent, corporate overhead, agreed upon reduced salaries for officers, the payment of property taxes along with the upkeep on two properties obtained in one settlement (see corporate updates 4.21.2009 & 5.11.2009) and the engagement of a CPA firm that is currently and diligently working to reconstruct financial records from 2002 forward with the intention of fully audited financials. The new company report says "Each of these IRS filings have been filed in addition to the most current year filing for 2009." It then goes on to link to financial statements. The implication is "this is what we went to the IRS". With CPAs "diligently working" on the financial statements, the CPAs would not allow the IRS be sent a tax return that any second year accounting student would know is wrong. IMO This can not be the financial statement that was sent with the 2009 tax return. (Unless they just threw together what they had with the intent to re-file with accurate numbers later) Here are my words from millionaires.proboards.com/index.....ad=34107&page=5After reviewing the financial statements more closely, it is plain to see that they were not prepared by an accounting professional. IMO - This is not what was sent to the IRS and this is not the final work of the forensic accountant. Here's why; 1 - No one uses pennies in their reporting. Not to the IRS. Not to the public. 2 - Net Loss on Income Statement does not equal Net Loss on the Balance Sheet. 3 - As someone else noted, the Assets do not equal Liabilities plus Equity. 4 - No one puts accumulated depreciation before the asset being depreciated. In this case the furniture and equipment. 5 - The CD should be listed after the operating and checking accounts. Numbers 2 and 3 are Cardinal sins. The others are "rookie" mistakes. IMO This document was prepared at the last second by a non-accounting person. The question is; WHY would they put out a financial statement after all these years of preparation that is so obviously wrong?
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Post by straighttalk on Sept 18, 2010 20:15:01 GMT -5
I think this timing smacks Al in face with dead fish. Tyler saying, you believe fairy tale ..here is actual result. Keep dreaming or face reality.. In end, we all wake up.. Thoughts on Tyler's Update.....from the Fish & "Chips" board....gregg Fish Head Re: Tyler Update~Taxes Filed « Reply #31 Today at 7:21pm » The thing I'm questioning is, why? They've spent 4-5 years and intend to keep on, spent how many dollars to preserve how much value. And at this point there is no business, it's basically a bankruptcy estate without the bankruptcy. Look at the per share valuations, and add up how much you have for all the effort, grief, aggravation and assess where you could be if you took the same amount and bought stock in a real company. If even the billion share people are looking at less than $1200, really, why not buy stocks in a company with a product, revenue, a business plan etc.... Even if they get all the paperwork in order to what purpose does it serve to relist the stock and get it trading again? What would you do, sell it? Right now, the numbers in my post above are NAVPS, a blue chip NYSE listed stock ofter trades at a figure that is a fraction of that number (granted, a hot company often trades at a multiple of that figure, but we can hardly call CMKM a hot stock right now). From what I gather, the guys with a billion shares are the big swinging richards on the shareholders list, and they've got a less than Hodges pays a month lease on his office space among them. I gotta tell you, as a accountant I cannot for the life of me see why no one took this company into bankruptcy years ago, if there is any money left, the shareholders would still get it, less would have been spent maintaining the shell of the company and if nothing else the complete circus it's become would have been avoided. At best, and you'd need a business plan and some idea of what the company wants to do to make profits, you have a startup with $25,000 cash, a few pieces of vacant land in Virgina and Georgia and claims against the crooks who stole $22 Million but don't have a pot to piss in to pay it back. I know there's $120,000 in the checking account but I'm assuming that since it's not only the biggest part of cash on hand but that it's in a non interest bearing account that it's earmarked for some current expenses. Oh, wait, I went back to check that and the current liabilities is $310K and change, so that wipes out not only the checking account but also the $25K, the company meets the legal definition of bankrupt now. Are they gonna sell the land they got? I don't recall how they came across it, either? They should try to get rid of it, the property taxes on it are going to be a drain on cashflow.... I don't mean to bust anyone's bubble, but this isn't the smartass who makes fun of the "we're gonna be rich" crowd, this is the CPA, MBA, PhD International Business, guy who made a lot of money running businesses....and that guy says fold up the tent, sell the remaining assets and go find a better mousetrap. There ain't no money here. Unless of course, your own personal plan is to get back to trading so you can dump your shares on someone who is willing to pay near what you paid for them, or what we called in business school, "the next bigger fool" and if so, blessed be, but I gotta tell you it involves prolly ripping someone off and trying to sell the stock of this company in the condition it's in would be irresponsible even if it's not illegal. In my opinion... Okay, I'm sure I made some enemies with that, but I'm just callen' 'em how I see 'em. Ha Ha ... He He .... Always gotta be somebody blow everything they see about CMKX right out of the water. And they don't even have a clue as to what CMKX is doing. They've got it all figured out. They don't know their butt from a crack in the road.
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Post by imSINGLEruRICH on Sept 18, 2010 22:36:45 GMT -5
By: pontiyak 18 Sep 2010, 06:26 PM EDT Rating: Msg. 961049 of 961097
Jump to msg. # RE: The income tax filings.........
All this cost money…and smart people don’t spend money, unless there is a reasonable expectation of a decent future or return on time & money invested. There is still things we have not been told about.
There’s value somewhere’s…Hmmmmmmm
:)yak
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