Post by shaboink on Jun 24, 2004 10:25:29 GMT -5
I believe this is one persons take on the pr release treat the information as such until you do your research( www.stockwatch.com/swnet/newsit/newsit_newsit.aspx?bid=U-s0119269-U:CMKX-20040616&symbol=CMKX&news_region=U&name=CMKM+DIAMONDS+INC&title=CMKM+Diamonds+hopes+to+resolve+mysterious+issues )
www.ragingbull.lycos.com/mboard/boards.cgi?board=CMKX&read=327732
Update on new TA from STOCKHOUSE
« Reply #3 on: Today at 03:17am » <br>by Thunkerdrone
--------------------------------------------------------------------------------
Now we finally know what the mysterious delay has been. The audit was only supposed to take two weeks. Here is what I think may have happened:
"a second Law Firm in Las Vegas. I
called the firm in Vegas and asked about the transfer of CMKX and he stated he was in a meeting right now regarding the transfer. I asked about audit and he said no audit had been done, 1st Global had not been very forthcoming and cooperative, but they were getting things ironed out and an audit will be done to become reporting as quickly as possible. (no time frame) "
CMKX may have been trying to get this ironed out for
months with First Global (the original transfer agent)using their original Vegas law firm. Through this, difficulties may have arisen, some issues which then necessitated the involvement of Edwards and Angell.
My guess is that CMKX initially preferred to try to keep the audit process low-key, in order to spring the surprise of a completed audit on the markets, and likely initially attempted to do the audit using both their original Vegas attorneys, and original transfer agent, First Global.
From this may have arisen delays and other issues which caused them to seek a new transfer agent.
Then, from the sound of it, even the move to the new transfer agent met with delays and unforeseen difficulties, which may have moved CMKX , on the advice of their attorneys, to seek the assistance of Roger Glenn
Edwards & Angell.
From:
www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Cbw%5C2004%5C06%5C03%5C50917183.html%26clientid%3D168%26provider%3DBUSINESS_WIRE&symbol=CMKX
"Further the Board has notified the present Transfer Agent, 1st Global Stock Transfer to do a full and complete audit of the company and/or will have an independent auditor audit the company and as soon as that audit is complete the Company has retained Pacific Stock Transfer, Inc., to become the new Transfer Agent for CMKM Diamonds, Inc."
-------------]
To me , this explains many of the delays. This may be the one thing that is holding up everything else.
CMKX may need to have their audit and o/s completed before releasing other news of either mergers,
aerial survey results, drill core sampling, etc.
My guess is that the mm's will try to walk this back down
and recover as much of their short position as possible
at .0001 or less while CMKX and their lawyers race to
complete the audit.
www.ragingbull.lycos.com/mboard/boards.cgi?board=CMKX&read=327732
Update on new TA from STOCKHOUSE
« Reply #3 on: Today at 03:17am » <br>by Thunkerdrone
--------------------------------------------------------------------------------
Now we finally know what the mysterious delay has been. The audit was only supposed to take two weeks. Here is what I think may have happened:
"a second Law Firm in Las Vegas. I
called the firm in Vegas and asked about the transfer of CMKX and he stated he was in a meeting right now regarding the transfer. I asked about audit and he said no audit had been done, 1st Global had not been very forthcoming and cooperative, but they were getting things ironed out and an audit will be done to become reporting as quickly as possible. (no time frame) "
CMKX may have been trying to get this ironed out for
months with First Global (the original transfer agent)using their original Vegas law firm. Through this, difficulties may have arisen, some issues which then necessitated the involvement of Edwards and Angell.
My guess is that CMKX initially preferred to try to keep the audit process low-key, in order to spring the surprise of a completed audit on the markets, and likely initially attempted to do the audit using both their original Vegas attorneys, and original transfer agent, First Global.
From this may have arisen delays and other issues which caused them to seek a new transfer agent.
Then, from the sound of it, even the move to the new transfer agent met with delays and unforeseen difficulties, which may have moved CMKX , on the advice of their attorneys, to seek the assistance of Roger Glenn
Edwards & Angell.
From:
www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Cbw%5C2004%5C06%5C03%5C50917183.html%26clientid%3D168%26provider%3DBUSINESS_WIRE&symbol=CMKX
"Further the Board has notified the present Transfer Agent, 1st Global Stock Transfer to do a full and complete audit of the company and/or will have an independent auditor audit the company and as soon as that audit is complete the Company has retained Pacific Stock Transfer, Inc., to become the new Transfer Agent for CMKM Diamonds, Inc."
-------------]
To me , this explains many of the delays. This may be the one thing that is holding up everything else.
CMKX may need to have their audit and o/s completed before releasing other news of either mergers,
aerial survey results, drill core sampling, etc.
My guess is that the mm's will try to walk this back down
and recover as much of their short position as possible
at .0001 or less while CMKX and their lawyers race to
complete the audit.