FR PORTRUSH…….
CMKM Webinar NOTES 5.31.12
These are my notes from the webinar tonight. I may have captured something incompletely or inaccurately. Send me a PM if you see something needing correction.
Apart from an extensive answer for the questions surrounding the Jefferies issue raised during the last webinar, much of tonight was a repeat. I noted some of the same material in brevity. Refer to previous notes from the last webinar if you want more detail.
When it came to the Q&A session tonight, it was difficult to track the questions and answers. I did not capture all of them, only those that were easy to do or appealed to my interest. Watch for the recording on the company website if you want more complete detail. He thinks this time the MP3 actually worked and should be made available in a few days.
Again, much of this is repetition. Hopefully it provides some assistance for those unable to attend.
(Curtis, I did my best)
pr
Opening Comments from Steve
Happy to host these events and hopes everyone is learning a little more of what’s going on with the company and providing some level of transparency with the company and answer some questions.
He is doing two of these meetings each month as means of meeting the settlement with the 7 shareholders that sued the company recently—but it was something that he wanted to do anyway.
He felt the last webinar was helpful and he covered a lot of topics. Unfortunately the recording of the webinar didn’t work, so he is going to recap some of the same information to be sure everyone has the opportunity to hear it.
He contends this is still one of the most incredible stock stories in history—but there is no way for any one person to know every line, jot and tittle of every event that took place. This is about moving forward—not reliving the past.
Jeffries Letter
When he came on board with the company there was a lot of info for him to get caught up to speed on. When he took this job he didn’t know everything that had happened previously—nor was it is possible for him to garner all that knowledge. He took this job on a very short notice and went to work learning what he could.
At the last webinar he gave an un-researched answer to the Jeffries question—ludicrous on his part and he apologizes for not stopping and thinking before he answered.
The Jeffries Letter is a document produced by an attorney for Jeffries and was addressed to the NASD on May 6, 2005. The letter was an admission by Jeffries that the firm had approved transactions from two broker-dealers that requested trades in CMKX be settled on an “ex-clearing” basis. Over 111 Billion shares of CMKX were traded “ex-clearing” and were not reported to the “tape.”
The request was made due to the high cost of required deposits needed on “long” transactions that were cleared through normal procedures. Since CMKX was traded at a very low price, and in extreme volumes the deposits represented a burden to the broker-dealers and their clients.
A broker-dealer needs to cover long transactions with deposits—and since we were trading in such huge volumes, Jeffries was asked if they could trade these “ex-clearing” and Jeffries allowed it. Jeffries had created their own internal software that allowed them to breakdown transactions to amounts less than 10 billion shares.
Jeffries produced a spreadsheet listing the transactions in CMKX from 3.25.04 until 9.21.04 that were traded ex-clearing and submitted the SS to the NASD.
The letter was given to the CMKM attorneys by the SEC during discovery for the SEC Administrative Hearing in May of 05, which ultimately led to delisting CMKX. The letter is self-explanatory and is not an admission of naked shorting. Email Steve and he will send you a copy.
There is no evidence to indicate that Jeffries paid any fine or settlement monies to anyone. And he clearly misspoke last week during the previous webinar. A person can make all sorts of assumptions from the letter—but it doesn’t name any names, it didn’t involve naked shorting, it may have involved former insiders selling shares on blank certificates that they may have had, but basically it isn’t a tell-tale sign to anything in particular. It has no true bearing on where we are today other than noting the company was previously financially hurt by some of these previous activities.
RECAP FROM THE LAST WEBINAR
The Trimbath Report
The report has been the topic of many questions and speculation from shareholders. Trimbath was hired to do a low-cost forensic sampling of shareholder brokerage statements (about 30) searching for proof of naked shorts. Frizzell hired her himself and her work was far from comprehensive and only allowed and extrapolation of naked short/phantom share volume. Her report concludes that many phantom shares were sold and that some shareholders had their shares deleted by their brokers. The report cannot be released for public viewing due to the fact that it has some proprietary information from brokers. Steve insists there is nothing in it that would blow people away.
DTCC Global Lock Restriction
This is not a new ruling it actually began in 2006. Steve called the DTCC and left a message for Morris Richards but did speak with his assistant and all she would do is provide an email to further request information.
He spoke with Transfer Online—if your statement shows a global lock contact your broker and have him//her call Aaron White at Transfer Online 503-227-2950 for help and resolution. In spite of the global lock, there is evidence that many certs have been transferred broker-to-broker and broker-to-client since the lock was placed.
If you don’t get the help you need at Transfer Online, feel free to contact Steve directly.
2011 Tax Return
Not yet files—but an extension was requested. Work to complete the return is underway but was delayed due to an illness in the family of our accountant.
1010 JV and Core Samples
Still waiting on budget numbers from Mr Koch due to a serious illness with his daughter. Please refrain from calling him about this matter—he is very busy attending to his daughter’s serious crisis. Please pray for them both if you believe in prayer.
The Wells Fargo Lawsuit
Is ongoing and we are in the discovery phase. Estimated damages is about $60 million
Monies owed by Can Cal
We expect to collect. Accrued interest and principal stands at about $900,000 today.
Property Recover Efforts
Numerous properties have been identified. Three have been taken back and we will continue to reclaim them as soon as found.
The Board of Directors
He intends to seat a full Board by September 30. Two will be voted on by shareholders and will come from shareholders. Method of voting will be online and he is looking into the most cost-effective way to do that. He will take names between 7/15 and 8/15. The vote will take place on 9/30.
Steve will appoint three non-Shareholder BOD members prior to 9/30. This brings the total Board to five. One of these three non-Shareholder positions is committed at this time.
The Board will have to be proactive because the company needs real work to be accomplished to move the company ahead once we attain some operating capital.
Trade Again?
He has read many of the comments from folks on Proboards who are saying that there is no way for the company to move forward and Steve categorically disagrees. What he is looking for is a strong balance sheet, zero debt, proven claims or a product or service we can buy into and make money doing so. And while he mentioned that he likes real estate—some took that wrong—he isn’t set on any one thing…as long as we make money. We need a track record of stability and competent management first. And while it sounds great to be a diamond mining company—he hopes we understand that while it seems exciting, it is very expensive and challenging. His understanding is that Shore, for example, needs $2 Billion to get up and running just to start. And he feels that shareholders of CMKX would likely rather not wait for years and years to raise that kind of money.
The path to trading again isn’t all that difficult—but the path to share value requires a viable profitable company. We need to focus on being a company that makes money—no matter what kind of company that may be.
Rest assured, once the Board is seated and we have some capital we will do the wisest things possible to bring the company to the point where we are making money for all shareholders. He believes returning to trading is the best way to address the naked short issue. Going at it legally is extremely expensive, the SOLs have past and there is extremely challenging issues to overcome.
One shareholder brought forth the idea of going after smaller brokerages one at a time—but you need to keep in mind that kind of activity requires a law firm who will take such a case on contingency. Either that, or someone needs to come up with an extremely large amount of money to fund such a lawsuit. He’s looking for such a firm—but not confident he will find one.
The CMKM Business Plan
> Keep overhead low
> Raise cash through litigation and sales of reclaimed land
> Pay off all debt
> Test core samples
> Build stability and a strong Balance Sheet
> Build a viable company using seed capital to invest in profitable ventures
> Return CMKM to trading.
The Rumor Mill
Reverse Split? Not at all true—not on the table being discussed. We don’t want to RV and let any brokerage house off the hook if they sold NSS in this company.
Are meetings with various shareholders at remote locations? Not true—he is not meeting with anyone. He does talk with some shareholders by phone on occasion. You’re welcome to call too—but he doesn’t discuss anything that he wouldn’t say here. Some folks have been downright insulting, others have been encouraging, but there are no special meetings with anyone taking place.
Steve is working for the Government? He is not working for the Government and isn’t part of any kind of winding down or any means of occupying shareholders until things can be sewn up. All of that is completely ludicrous. He is the only guy left in terms of management and there is no big picture agenda at work in the background that can’t be discussed. That’s why he’s hosting these webinars—so you can discuss what it is you want to know.
Steve is part of a larger scheme or agenda? No, this is not true at all. The information shared on these webinars is truthful and based on hard fact or evidence provided to him by others. Any suggestion that his job is to provide covers for others or keep shareholders occupied or buy time is totally false and ludicrous. The purpose for these webinars is because he wants shareholders to trust their management—ask the questions they have, and learn the truth about what is/is not going on with the company. Hopefully over time you will see that what he is saying is completely factual—even if the facts, at times, hurt. He is committed to making this company one of the trustworthiest companies a person can invest in.
Poll Questions
Last webinar we did a poll, but the results were a bust because of glitches in the webex system, or he just didn’t understand the technology. Some folks didn’t have a way to answer some of the questions. There was roughly about 90-95 who tried to answer the following, but the answers till come later:
How many are interested in running for a Shareholder Rep on the BOD?
How many are interested in making a small investment (Say $100/unit) toward the 1010 core samples testing if the investment offered a preferred return once the claims are sold?
Are these webinars informative and helpful to shareholders base?
He would love to see shareholders have an opportunity to further invest in the testing of the core samples, but at the same time not see them invest so much it doesn’t prove to be an effective investment. He would like to give shareholders the opportunity to invest some first. He doesn’t want to put anyone at risk that doesn’t want to be at risk. If there is something of value then you would be in a preferred return.
Some Answers to the Q&A from the last Webinar
Lat/Long Coordinates for the 101047025 are: Lat 53-28-55 to 53-29-32 and Long 105-04-32 to 105-05-18 / SE ¼ section 18 Township 52 Range 21 W2
List of assets recovered to date: Parcel of land in Franklin Virginia which was sold for $312K, Parcel in Palm Beach County for $358K, parcel in Clayton GA for $362K.
Various small cash settlements from law firms and individuals that are covered by NDA’s as part of the settlement.
We are in process of trying to reclaim several other pieces of real estate. The overhead right now is very, very low. If we can any serious money it will stay in the bank for the most part as we plan what the company will do to bring value to shareholders.
Terms of Settlement from Shareholder Settlement (7 people)
Agreed to hold 2 shareholder/company webinars in April and May, then one per month thereafter.
A shareholder vote for two Shareholder Reps to sit on the CMKM BOD, which happens 9/30/12.
Plaintiffs will have the rights to examine corporate records per the laws of Texas as of June 1, 2012.
If the company has not secured legal representation with regard to the naked short issue by 8/16/12, then the plaintiffs can examine any company records related to NSS of CMKX.
Steve felt is was in the best interest to settle this lawsuit rather than go to court and risk the company have shareholders suing their own company.
5/31/12 Q&A Session
What is the date of the NOBO/OBO list?
He has no idea and wouldn’t hazard a guess. He will look into it.
It would be nice to have a part of this webinar as a recording.
He will post the link on this one in a day or two.
Who are the long sellers?
Doesn’t understand the question.
It sounds like you’re reading from a script provided by a lawyer.
LOL! He is not—reading from notes he put together himself. This borders on insulting. Bottom line—take it to the bank—he is not reading from a script or following someone’s marching orders. He is running this company as if he was the ONLY shareholder. He recognizes we have 50K shareholders and he trying to serve us the best way he knows how. He has notes, papers from research, but to suggest that someone is telling him what to say is ludicrous and absurd. Please get off that line of thinking.
What made you think that Urban is being indicted because he took payment from Jeffries?
He admits he was wrong, he apologizes and he didn’t mean to imply anything incorrect. He knows Urban is under indictment for federal charges…but admits he made a mistake regarding his comments re; Jeffries.
Why is Urban being indicted then?
Because the DOJ has evidence apparently that shows he broke the law and they were serious enough to issue an indictment. There are facts that point to some things that were improper. It is up to them to bring him in and the courts to decide. He is not here to try anyone improper over the internet.
What is the total number of phantom shares that Trimbath came up with?
There was no number she wrote—but he has heard some numbers from previous lawyers or management of the company of 800M to 2T, but he has not seen any verification. He is confident there is a large number that were sold naked.
Is Marco still selling shares?
He has no idea—hopes not, for Marco’s sake, but has no way of knowing. How could he know?
In your estimate what would be the value of our shares at this time?
He would have no idea nor a way to answer that.
Can trading start by the end of this year or early next year?
Is it possible, yes—but likely by the end of this year…probably not. It depends on what we end up with for capital.
Is it possible for a shareholder to create and sell shirts/hats with the CMKXM logo on them as a fund raiser for the company?
Yes, absolutely. He would welcome that. It’s a good idea—but he doesn’t want to turn this into a circus. He will look into it and address it next webinar.
If Al Hodges is successful and we have a windfall of funds, can we head back to trading sooner?
Yes, absolutely. But we need to be sure we’re a clean as a whistle, company wise, and that everything is in order before we move forward.
Why wasn’t the shareholder settlement made public?
But it was tonight and last week it was discussed. One shareholder posted some extensive recap of the webinar and it was cited there. We acted on that suit because it was in the best interest of the shareholders to keep the company from falling into bankruptcy.
Why wasn’t the funding from the land sold used to fund the core sample testing?
Understand, when he came on board with the company, there were salaries and other expenses that had to be paid first. Some of the funds he was not involved with and were handled by previous management. The Clayton GA property had a mortgage and a real estate commission and the legal counsel their share of their proceeds. That left some money in the bank. However, if we paid all the bills we owe we would be broke again. We owe some law firms, some back salary to previous company management. If there was enough to test the core samples—we would—and we will, once we get some money and we get a budget to know the costs to test those.
Who owns CMKM Tyler Texas?
The company is owned by its shareholders. There is only ONE CMKM Diamonds Inc, it is currently domiciled in Tyler but is moving to AL in the near future. It is the shareholders that own the company.
Can you provide us a photo of John Edwards mug shot?
He is indeed in jail in the UK. Unless he is being lied to by the FBI and the company’s legal counsel, he is in jail. But Steve has never seen a picture…but will ask for one.
Are Urban and Koch still friends?
They used to be, but Emerson indicated that they are no longer friends. It’s a personal matter, but he doesn’t believe they are.
Are we looking for gold or anything else on the 1010 Claims?
We will look for anything that might have value—diamonds, gold, uranium—whatever might have value. There’s zinc and potash up there and diamonds are the attractive mineral, but we also know the diamond market isn’t all that hot right now. Just the same we will look for anything of value.
If the government wins their lawsuit against the insiders, where would the money go?
If the government wins the criminal trial against the insiders and part of their final verdict and judgment includes that they need to pay restitution—the money would come to the company and the company will put it to good use for the benefit of all shareholders.
Ron Casavant, Urban’s brother still owns a home in Las Vegas. He was involved in CMKX and it is possible that he purchased that home with ill gotten gains from CMKX. Has that been investigated?
Good question—doesn’t know the answer to that. Ron has not been fingered or indicted on anything…but he will ask our lawyers. It is a good question.
Since you took control of CMKM Diamonds in November 2011 what efforts have you made to contact the other 49,500 shareholders that don’t know you’re holding these meeting?
I’ve not made any efforts because we can’t afford them. All we have are these webinars, our website and of course the boards. We cannot afford an effort to contact the entire list. He is getting a lot of calls and emails from people reengaging…but he could use some ideas on how to reach all of them affordably. He is open to any good idea.
How much money do we need to trade again?
He doesn’t know but assuredly a few million dollars in the bank and we need to be in apposition to provide a return to the shareholders, have a solid business plan, etc.
Will you set up a Pay Pal account so we can donate towards core sample testing?
Not sure just yet, but it will all be above board and completely transparent so all shareholders will all know where they money goes.
Maybe I am wrong but what would prevent our stock from being naked shorted again when we go back to trading? It seems we would still be in the same boat as before.
That’s an excellent question and comment. He has talked with Wes Christian and learned a lot about this process. It is possible we could be naked shorted again. If we go back to trading we need to be vigilant, proactive and monitoring the sales of our stock.
Was any money involved with the settlement with the small group of shareholders?
Absolutely not. If we ever pay money to shareholders, it will be to all shareholder.
All of the recovered assets have been sold and the monies have been used to pay off debt. And there’s currently no money to pursue any further recovery of assets. This leaves the Wells Fargo lawsuit to obtain further cash to continue operations. If we lose the Well Fargo lawsuit, will CMKM will be forced into bankruptcy?
Understand, the pursuit of other assets is being done on a contingency basis with the attorneys. So until we get the assets/property in hand, we don’t pay them anything. Wells Fargo is a contingency lawsuit plan. No, losing Wells Fargo will not put us into BK. He doesn’t intend to lose the case—we have the right lawyers and doing all we can to win the case. We have an iron clad case.
Does CMKM have a relationship with United Uranium?
To the best of his knowledge there is nothing currently in force, if there ever was anything to begin with.
Closing comments:
Any unanswered questions he will look up the info and respond to them later. Again he apologizes for the misinfo on the Jeffries letter. He wants the shareholders to be happy. Wants everyone to get their money back and then some. He understands its been a long ride, and many need money and help with their economic situation and he is dedicated to helping this company get profitable.
He feels he works for the shareholders and works hard everyday. Hopes one day we all make a bunch of money from this company. He appreciates the friendships he has made. Remember Emerson Koch’s family and daughter in prayer.
http://www.cmkxunofficial.proboards.com/index.cgi?board=mofo&action=display&thread=9711
CMKM Webinar Notes 5-31-12
FR PORTRUSH…….
CMKM Webinar NOTES 5.31.12
These are my notes from the webinar tonight. I may have captured something incompletely or inaccurately. Send me a PM if you see something needing correction.
Apart from an extensive answer for the questions surrounding the Jefferies issue raised during the last webinar, much of tonight was a repeat. I noted some of the same material in brevity. Refer to previous notes from the last webinar if you want more detail.
When it came to the Q&A session tonight, it was difficult to track the questions and answers. I did not capture all of them, only those that were easy to do or appealed to my interest. Watch for the recording on the company website if you want more complete detail. He thinks this time the MP3 actually worked and should be made available in a few days.
Again, much of this is repetition. Hopefully it provides some assistance for those unable to attend.
(Curtis, I did my best)
pr
Opening Comments from Steve
Happy to host these events and hopes everyone is learning a little more of what’s going on with the company and providing some level of transparency with the company and answer some questions.
He is doing two of these meetings each month as means of meeting the settlement with the 7 shareholders that sued the company recently—but it was something that he wanted to do anyway.
He felt the last webinar was helpful and he covered a lot of topics. Unfortunately the recording of the webinar didn’t work, so he is going to recap some of the same information to be sure everyone has the opportunity to hear it.
He contends this is still one of the most incredible stock stories in history—but there is no way for any one person to know every line, jot and tittle of every event that took place. This is about moving forward—not reliving the past.
Jeffries Letter
When he came on board with the company there was a lot of info for him to get caught up to speed on. When he took this job he didn’t know everything that had happened previously—nor was it is possible for him to garner all that knowledge. He took this job on a very short notice and went to work learning what he could.
At the last webinar he gave an un-researched answer to the Jeffries question—ludicrous on his part and he apologizes for not stopping and thinking before he answered.
The Jeffries Letter is a document produced by an attorney for Jeffries and was addressed to the NASD on May 6, 2005. The letter was an admission by Jeffries that the firm had approved transactions from two broker-dealers that requested trades in CMKX be settled on an “ex-clearing” basis. Over 111 Billion shares of CMKX were traded “ex-clearing” and were not reported to the “tape.”
The request was made due to the high cost of required deposits needed on “long” transactions that were cleared through normal procedures. Since CMKX was traded at a very low price, and in extreme volumes the deposits represented a burden to the broker-dealers and their clients.
A broker-dealer needs to cover long transactions with deposits—and since we were trading in such huge volumes, Jeffries was asked if they could trade these “ex-clearing” and Jeffries allowed it. Jeffries had created their own internal software that allowed them to breakdown transactions to amounts less than 10 billion shares.
Jeffries produced a spreadsheet listing the transactions in CMKX from 3.25.04 until 9.21.04 that were traded ex-clearing and submitted the SS to the NASD.
The letter was given to the CMKM attorneys by the SEC during discovery for the SEC Administrative Hearing in May of 05, which ultimately led to delisting CMKX. The letter is self-explanatory and is not an admission of naked shorting. Email Steve and he will send you a copy.
There is no evidence to indicate that Jeffries paid any fine or settlement monies to anyone. And he clearly misspoke last week during the previous webinar. A person can make all sorts of assumptions from the letter—but it doesn’t name any names, it didn’t involve naked shorting, it may have involved former insiders selling shares on blank certificates that they may have had, but basically it isn’t a tell-tale sign to anything in particular. It has no true bearing on where we are today other than noting the company was previously financially hurt by some of these previous activities.
RECAP FROM THE LAST WEBINAR
The Trimbath Report
The report has been the topic of many questions and speculation from shareholders. Trimbath was hired to do a low-cost forensic sampling of shareholder brokerage statements (about 30) searching for proof of naked shorts. Frizzell hired her himself and her work was far from comprehensive and only allowed and extrapolation of naked short/phantom share volume. Her report concludes that many phantom shares were sold and that some shareholders had their shares deleted by their brokers. The report cannot be released for public viewing due to the fact that it has some proprietary information from brokers. Steve insists there is nothing in it that would blow people away.
DTCC Global Lock Restriction
This is not a new ruling it actually began in 2006. Steve called the DTCC and left a message for Morris Richards but did speak with his assistant and all she would do is provide an email to further request information.
He spoke with Transfer Online—if your statement shows a global lock contact your broker and have him//her call Aaron White at Transfer Online 503-227-2950 for help and resolution. In spite of the global lock, there is evidence that many certs have been transferred broker-to-broker and broker-to-client since the lock was placed.
If you don’t get the help you need at Transfer Online, feel free to contact Steve directly.
2011 Tax Return
Not yet files—but an extension was requested. Work to complete the return is underway but was delayed due to an illness in the family of our accountant.
1010 JV and Core Samples
Still waiting on budget numbers from Mr Koch due to a serious illness with his daughter. Please refrain from calling him about this matter—he is very busy attending to his daughter’s serious crisis. Please pray for them both if you believe in prayer.
The Wells Fargo Lawsuit
Is ongoing and we are in the discovery phase. Estimated damages is about $60 million
Monies owed by Can Cal
We expect to collect. Accrued interest and principal stands at about $900,000 today.
Property Recover Efforts
Numerous properties have been identified. Three have been taken back and we will continue to reclaim them as soon as found.
The Board of Directors
He intends to seat a full Board by September 30. Two will be voted on by shareholders and will come from shareholders. Method of voting will be online and he is looking into the most cost-effective way to do that. He will take names between 7/15 and 8/15. The vote will take place on 9/30.
Steve will appoint three non-Shareholder BOD members prior to 9/30. This brings the total Board to five. One of these three non-Shareholder positions is committed at this time.
The Board will have to be proactive because the company needs real work to be accomplished to move the company ahead once we attain some operating capital.
Trade Again?
He has read many of the comments from folks on Proboards who are saying that there is no way for the company to move forward and Steve categorically disagrees. What he is looking for is a strong balance sheet, zero debt, proven claims or a product or service we can buy into and make money doing so. And while he mentioned that he likes real estate—some took that wrong—he isn’t set on any one thing…as long as we make money. We need a track record of stability and competent management first. And while it sounds great to be a diamond mining company—he hopes we understand that while it seems exciting, it is very expensive and challenging. His understanding is that Shore, for example, needs $2 Billion to get up and running just to start. And he feels that shareholders of CMKX would likely rather not wait for years and years to raise that kind of money.
The path to trading again isn’t all that difficult—but the path to share value requires a viable profitable company. We need to focus on being a company that makes money—no matter what kind of company that may be.
Rest assured, once the Board is seated and we have some capital we will do the wisest things possible to bring the company to the point where we are making money for all shareholders. He believes returning to trading is the best way to address the naked short issue. Going at it legally is extremely expensive, the SOLs have past and there is extremely challenging issues to overcome.
One shareholder brought forth the idea of going after smaller brokerages one at a time—but you need to keep in mind that kind of activity requires a law firm who will take such a case on contingency. Either that, or someone needs to come up with an extremely large amount of money to fund such a lawsuit. He’s looking for such a firm—but not confident he will find one.
The CMKM Business Plan
> Keep overhead low
> Raise cash through litigation and sales of reclaimed land
> Pay off all debt
> Test core samples
> Build stability and a strong Balance Sheet
> Build a viable company using seed capital to invest in profitable ventures
> Return CMKM to trading.
The Rumor Mill
Reverse Split? Not at all true—not on the table being discussed. We don’t want to RV and let any brokerage house off the hook if they sold NSS in this company.
Are meetings with various shareholders at remote locations? Not true—he is not meeting with anyone. He does talk with some shareholders by phone on occasion. You’re welcome to call too—but he doesn’t discuss anything that he wouldn’t say here. Some folks have been downright insulting, others have been encouraging, but there are no special meetings with anyone taking place.
Steve is working for the Government? He is not working for the Government and isn’t part of any kind of winding down or any means of occupying shareholders until things can be sewn up. All of that is completely ludicrous. He is the only guy left in terms of management and there is no big picture agenda at work in the background that can’t be discussed. That’s why he’s hosting these webinars—so you can discuss what it is you want to know.
Steve is part of a larger scheme or agenda? No, this is not true at all. The information shared on these webinars is truthful and based on hard fact or evidence provided to him by others. Any suggestion that his job is to provide covers for others or keep shareholders occupied or buy time is totally false and ludicrous. The purpose for these webinars is because he wants shareholders to trust their management—ask the questions they have, and learn the truth about what is/is not going on with the company. Hopefully over time you will see that what he is saying is completely factual—even if the facts, at times, hurt. He is committed to making this company one of the trustworthiest companies a person can invest in.
Poll Questions
Last webinar we did a poll, but the results were a bust because of glitches in the webex system, or he just didn’t understand the technology. Some folks didn’t have a way to answer some of the questions. There was roughly about 90-95 who tried to answer the following, but the answers till come later:
How many are interested in running for a Shareholder Rep on the BOD?
How many are interested in making a small investment (Say $100/unit) toward the 1010 core samples testing if the investment offered a preferred return once the claims are sold?
Are these webinars informative and helpful to shareholders base?
He would love to see shareholders have an opportunity to further invest in the testing of the core samples, but at the same time not see them invest so much it doesn’t prove to be an effective investment. He would like to give shareholders the opportunity to invest some first. He doesn’t want to put anyone at risk that doesn’t want to be at risk. If there is something of value then you would be in a preferred return.
Some Answers to the Q&A from the last Webinar
Lat/Long Coordinates for the 101047025 are: Lat 53-28-55 to 53-29-32 and Long 105-04-32 to 105-05-18 / SE ¼ section 18 Township 52 Range 21 W2
List of assets recovered to date: Parcel of land in Franklin Virginia which was sold for $312K, Parcel in Palm Beach County for $358K, parcel in Clayton GA for $362K.
Various small cash settlements from law firms and individuals that are covered by NDA’s as part of the settlement.
We are in process of trying to reclaim several other pieces of real estate. The overhead right now is very, very low. If we can any serious money it will stay in the bank for the most part as we plan what the company will do to bring value to shareholders.
Terms of Settlement from Shareholder Settlement (7 people)
Agreed to hold 2 shareholder/company webinars in April and May, then one per month thereafter.
A shareholder vote for two Shareholder Reps to sit on the CMKM BOD, which happens 9/30/12.
Plaintiffs will have the rights to examine corporate records per the laws of Texas as of June 1, 2012.
If the company has not secured legal representation with regard to the naked short issue by 8/16/12, then the plaintiffs can examine any company records related to NSS of CMKX.
Steve felt is was in the best interest to settle this lawsuit rather than go to court and risk the company have shareholders suing their own company.
5/31/12 Q&A Session
What is the date of the NOBO/OBO list?
He has no idea and wouldn’t hazard a guess. He will look into it.
It would be nice to have a part of this webinar as a recording.
He will post the link on this one in a day or two.
Who are the long sellers?
Doesn’t understand the question.
It sounds like you’re reading from a script provided by a lawyer.
LOL! He is not—reading from notes he put together himself. This borders on insulting. Bottom line—take it to the bank—he is not reading from a script or following someone’s marching orders. He is running this company as if he was the ONLY shareholder. He recognizes we have 50K shareholders and he trying to serve us the best way he knows how. He has notes, papers from research, but to suggest that someone is telling him what to say is ludicrous and absurd. Please get off that line of thinking.
What made you think that Urban is being indicted because he took payment from Jeffries?
He admits he was wrong, he apologizes and he didn’t mean to imply anything incorrect. He knows Urban is under indictment for federal charges…but admits he made a mistake regarding his comments re; Jeffries.
Why is Urban being indicted then?
Because the DOJ has evidence apparently that shows he broke the law and they were serious enough to issue an indictment. There are facts that point to some things that were improper. It is up to them to bring him in and the courts to decide. He is not here to try anyone improper over the internet.
What is the total number of phantom shares that Trimbath came up with?
There was no number she wrote—but he has heard some numbers from previous lawyers or management of the company of 800M to 2T, but he has not seen any verification. He is confident there is a large number that were sold naked.
Is Marco still selling shares?
He has no idea—hopes not, for Marco’s sake, but has no way of knowing. How could he know?
In your estimate what would be the value of our shares at this time?
He would have no idea nor a way to answer that.
Can trading start by the end of this year or early next year?
Is it possible, yes—but likely by the end of this year…probably not. It depends on what we end up with for capital.
Is it possible for a shareholder to create and sell shirts/hats with the CMKXM logo on them as a fund raiser for the company?
Yes, absolutely. He would welcome that. It’s a good idea—but he doesn’t want to turn this into a circus. He will look into it and address it next webinar.
If Al Hodges is successful and we have a windfall of funds, can we head back to trading sooner?
Yes, absolutely. But we need to be sure we’re a clean as a whistle, company wise, and that everything is in order before we move forward.
Why wasn’t the shareholder settlement made public?
But it was tonight and last week it was discussed. One shareholder posted some extensive recap of the webinar and it was cited there. We acted on that suit because it was in the best interest of the shareholders to keep the company from falling into bankruptcy.
Why wasn’t the funding from the land sold used to fund the core sample testing?
Understand, when he came on board with the company, there were salaries and other expenses that had to be paid first. Some of the funds he was not involved with and were handled by previous management. The Clayton GA property had a mortgage and a real estate commission and the legal counsel their share of their proceeds. That left some money in the bank. However, if we paid all the bills we owe we would be broke again. We owe some law firms, some back salary to previous company management. If there was enough to test the core samples—we would—and we will, once we get some money and we get a budget to know the costs to test those.
Who owns CMKM Tyler Texas?
The company is owned by its shareholders. There is only ONE CMKM Diamonds Inc, it is currently domiciled in Tyler but is moving to AL in the near future. It is the shareholders that own the company.
Can you provide us a photo of John Edwards mug shot?
He is indeed in jail in the UK. Unless he is being lied to by the FBI and the company’s legal counsel, he is in jail. But Steve has never seen a picture…but will ask for one.
Are Urban and Koch still friends?
They used to be, but Emerson indicated that they are no longer friends. It’s a personal matter, but he doesn’t believe they are.
Are we looking for gold or anything else on the 1010 Claims?
We will look for anything that might have value—diamonds, gold, uranium—whatever might have value. There’s zinc and potash up there and diamonds are the attractive mineral, but we also know the diamond market isn’t all that hot right now. Just the same we will look for anything of value.
If the government wins their lawsuit against the insiders, where would the money go?
If the government wins the criminal trial against the insiders and part of their final verdict and judgment includes that they need to pay restitution—the money would come to the company and the company will put it to good use for the benefit of all shareholders.
Ron Casavant, Urban’s brother still owns a home in Las Vegas. He was involved in CMKX and it is possible that he purchased that home with ill gotten gains from CMKX. Has that been investigated?
Good question—doesn’t know the answer to that. Ron has not been fingered or indicted on anything…but he will ask our lawyers. It is a good question.
Since you took control of CMKM Diamonds in November 2011 what efforts have you made to contact the other 49,500 shareholders that don’t know you’re holding these meeting?
I’ve not made any efforts because we can’t afford them. All we have are these webinars, our website and of course the boards. We cannot afford an effort to contact the entire list. He is getting a lot of calls and emails from people reengaging…but he could use some ideas on how to reach all of them affordably. He is open to any good idea.
How much money do we need to trade again?
He doesn’t know but assuredly a few million dollars in the bank and we need to be in apposition to provide a return to the shareholders, have a solid business plan, etc.
Will you set up a Pay Pal account so we can donate towards core sample testing?
Not sure just yet, but it will all be above board and completely transparent so all shareholders will all know where they money goes.
Maybe I am wrong but what would prevent our stock from being naked shorted again when we go back to trading? It seems we would still be in the same boat as before.
That’s an excellent question and comment. He has talked with Wes Christian and learned a lot about this process. It is possible we could be naked shorted again. If we go back to trading we need to be vigilant, proactive and monitoring the sales of our stock.
Was any money involved with the settlement with the small group of shareholders?
Absolutely not. If we ever pay money to shareholders, it will be to all shareholder.
All of the recovered assets have been sold and the monies have been used to pay off debt. And there’s currently no money to pursue any further recovery of assets. This leaves the Wells Fargo lawsuit to obtain further cash to continue operations. If we lose the Well Fargo lawsuit, will CMKM will be forced into bankruptcy?
Understand, the pursuit of other assets is being done on a contingency basis with the attorneys. So until we get the assets/property in hand, we don’t pay them anything. Wells Fargo is a contingency lawsuit plan. No, losing Wells Fargo will not put us into BK. He doesn’t intend to lose the case—we have the right lawyers and doing all we can to win the case. We have an iron clad case.
Does CMKM have a relationship with United Uranium?
To the best of his knowledge there is nothing currently in force, if there ever was anything to begin with.
Closing comments:
Any unanswered questions he will look up the info and respond to them later. Again he apologizes for the misinfo on the Jeffries letter. He wants the shareholders to be happy. Wants everyone to get their money back and then some. He understands its been a long ride, and many need money and help with their economic situation and he is dedicated to helping this company get profitable.
He feels he works for the shareholders and works hard everyday. Hopes one day we all make a bunch of money from this company. He appreciates the friendships he has made. Remember Emerson Koch’s family and daughter in prayer.
http://www.cmkxunofficial.proboards.com/index.cgi?board=mofo&action=display&thread=9711