CMKM PR - 03/30/2007 - #2

[okie]

biz.yahoo.com/bw/070330/20070330005383.html?.v=1

CMKM Diamonds, Inc. Hires Frizzell Law Firm to Start the Process of Recovering Assets
Friday March 30, 10:35 am ET

LAS VEGAS--(BUSINESS WIRE)--CMKM Diamonds, Inc. is in receipt of the Shareholder Derivative Rights Demand letter that was prepared on behalf of the shareholders by Bill Frizzell. We are currently investigating many facts that will help us decide the best order of filing lawsuits in a quest to recover monies and assets that belong to the shareholders of this Company.

The first order of new business was to hire the Frizzell Law Firm. The investigations conducted by the firm have uncovered many facts which have revealed the reasons for the issues that the Company now faces. The Company expects the first suit to be filed against two individuals. This suit is only the first of many suits that are being prepared. The details of these suits will be made available once they are filed.

"It is my understanding that these first two lawsuits will be filed in Las Vegas before the end of the day." Mr. West continued, "I have known and worked with Bill Frizzell and know, beyond a shadow of doubt, that his full intent has always been to work on behalf of the best interests of the CMKM shareholders. I am excited and honored to have his help."

The Frizzell Law firm has hired Las Vegas attorney George Cromer as local counsel to file these first two lawsuits on behalf of the Company. Los Angeles attorney, Al Hodges, will be assisting the legal team as it proceeds.

Safe Harbor Statement:

This news release contains certain "forward-looking statements" within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934. Although the Company believes the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that actual results will meet or exceed such expectations.


Contact:
CMKM Diamonds, Inc., Las Vegas
Kevin West, 702-946-9497


United we stand and WIN!!!!!!!......In God we trust.........okie

[weltermeister]

[samadams]

I'm feeling woozy... Too much news in one day...

Go Kevin and Bill

[SkipperGas]

[dumguy]

HAS THE INTERPLEAD BEEN FILED?

ALL THIS PR SAYS IS THAT WE ARE GOING TO SPEND MORE MONEY ON ATTORNEYS AND LESS FOR THE SHAREHOLDERS.
MORE FREAKING WAITING.

[samadams]

dumguy said:

HAS THE INTERPLEAD BEEN FILED?

ALL THIS PR SAYS IS THAT WE ARE GOING TO SPEND MORE MONEY ON ATTORNEYS AND LESS FOR THE SHAREHOLDERS.
MORE FREAKING WAITING.

It's the most forward stepping the Company has taken in a couple of years...

[harvscorvette]

Bomb bay doors open. Select target. Drop Drop Drop. Ordinance on the way to target.

[chobbs]

Its sounds like we are still at the Soon stage of things. Instead of SOOn. If we are still filing law suits, we are light years away from anything. I thought the interplead was the only thing left. If we have other law suits to worry about. This could take years. I am not getting the warm and fuzzys over this at all.

[billy9565]

Its sounds like we are still at the Soon stage of things. Instead of SOOn. If we are still filing law suits, we are light years away from anything. I thought the interplead was the only thing left. If we have other law suits to worry about. This could take years. I am not getting the warm and fuzzys over this at all.

ditto, seems like we're just at the beginning, this is gonna be a loooong time, imo

[Odyssey]

My Goodness, 2 in less than 12 hours.....

I might actually have to imbibe at lunch......lol

[digby]

I suspect that all the "other" actions we have been hearin about (interplede, sting, etc.) have been finalized. This is the last series of steps to completely clean the henhouse.

One nice thing: Kevin has confirmed the fact that Frizzell is on the correct side of this equation.

I don't see that any of these follow-on lawsuits will have any impact on us getting a distribution whatsoever.

[dumguy]

samadams said:

dumguy said:

HAS THE INTERPLEAD BEEN FILED?

ALL THIS PR SAYS IS THAT WE ARE GOING TO SPEND MORE MONEY ON ATTORNEYS AND LESS FOR THE SHAREHOLDERS.
MORE FREAKING WAITING.

It's the most forward stepping the Company has taken in a couple of years...

I whole heartedly agree, however, I thought we were in a quiet period for the last year because we were waiting for results. This PR says that we don't have any and we have to file lawsuits to try, and obtain some. IMO

Why can he all of a sudden be able to communicate if we weren't waiting on something?

[Twist Capper]

dumguy said:

I whole heartedly agree, however, I thought we were in a quiet period for the last year because we were waiting for results. This PR says that we don't have any and we have to file lawsuits to try, and obtain some. IMO

Why can he all of a sudden be able to communicate if we weren't waiting on something?

Because of the recent chain of events. I beleive the postings of
several years ago stating that Urban may have been prohibited
from revealing info about the insiders and their dealings. The
recent action by Frizzel will now bring those people and deals
into light without UC being the one responsible.

If I remember correctly, it was something to the effect of "the
claims would be lost to those trying to destroy the company".
If you want.....you could always go back to pb66 and check
the archives as I believe the posts still exist there.


TC

[digby]

Well, looks like Market Watch has picked up on our 2nd PR!

tinyurl.com/2lqg4v

(initial link was broken)

[dumguy]

twistcapper said:

dumguy said:

I whole heartedly agree, however, I thought we were in a quiet period for the last year because we were waiting for results. This PR says that we don't have any and we have to file lawsuits to try, and obtain some. IMO

Why can he all of a sudden be able to communicate if we weren't waiting on something?

Because of the recent chain of events. I beleive the postings of
several years ago stating that Urban may have been prohibited
from revealing info about the insiders and their dealings. The
recent action by Frizzel will now bring those people and deals
into light without UC being the one responsible.

If I remember correctly, it was something to the effect of "the
claims would be lost to those trying to destroy the company".
If you want.....you could always go back to pb66 and check
the archives as I believe the posts still exist there.


TC

Maybe, but the posting of late seem to think that the judge, or our attorneys put a gag order on us. So I guess I can sift thru a bunch of old postings from past and present or what ever spin era I would like. I would like to know from the company, not from a bunch of posters.

[Twist Capper]

Then why waste time on a message board?


TC


I am not being facetious....if facts from the company are the
only thing you're looking for - a message board really is the
wrong place.

[dumguy]

twistcapper said:

Then why waste time on a message board?


TC


I am not being facetious....if facts from the company are the
only thing you're looking for - a message board really is the
wrong place.

Maybe, I am reading your post wrong, and if I am I appologize. I thought you said the reason he could talk now was some insider trading thing, and Frizzell made so he could communicate. ( those were old posts on 66) I simply stated that new theory or spin was that we didn't want to screw up the interplead.

I don't want to hear from the shareholders on why he couldn't communicate, but from the company.

Since you are asking, why do you come to the message boards?
Maybe, we will have some of the same reasons.

[rayengn]

billy9565 said:

Its sounds like we are still at the Soon stage of things. Instead of SOOn. If we are still filing law suits, we are light years away from anything. I thought the interplead was the only thing left. If we have other law suits to worry about. This could take years. I am not getting the warm and fuzzys over this at all.

ditto, seems like we're just at the beginning, this is gonna be a loooong time, imo

I agree. Law suits take a long time, and getting the settlement money afterward takes longer, just ask USXP. I hope there are other "assets" besides ETGMF that need to be doled out first. If not, I am glad I am young enough to benefit from this stock when things come through in years from now.

Rock my World ... Quicker than this.

[Tyfel]

Ya Know....it simply amazes me that after all this time, we get some GREAT news from THE COMPANY and some people are still grumbling that it isn't enough!!!!

I have spent the last several hours discussing this saga and the recent (VERY recent) events with several hours and have come away with the following thought:

1. Many, if not most, lawsuits never see a court room....most are brought simply to pressure a settlement of some sort.

Does anyone truly believe that our new management and Frizzell are embarking on a mission that they KNOW is going to burden the shareholders with any substantial cost??? If we believe in our hearts that Kevin and Frizzell really DO have our best interests in mind, then it follows that they are not going to be pursuing a course that is a detriment to us.

I, for one, believe in my heart of hearts that NOW is the time for all of us to pull together and back our team....We have all held on for so long without any true direction or action and, now that there is some movement we need to be collectively strong and united in our support of our management and legal staff.

As someone much wiser than me once said, "Dreams are goals without deadlines"....Hold on to your dreams folks.....There are some very dedicated people working very diligently to help you make them come true. (aimho, of course)

[Deleted]

None of the brokers are going to want to open their books. my bet is the derivative suits against market participants will never go to discovery.

[gusjarvis]

brig I couldn't agree more, and edwards stuff was dealt with years ago. Things should move on quick now, but could still take months

[portrush]

brigantine said:

None of the brokers are going to want to open their books. my bet is the derivative suits against market participants will never go to discovery.

This is what I'm hoping for...an eventual settlement to avoid this. However, I am not naive enough to think this will be an easy or quick resolution.

pr

[Deleted]

Agreed, hopefully that will be resolved yet this year.

[windsor1934]

Congratulations to all longs.
At last we will hear directly from the company.
The Rumor Mill will fade into the background and the truth will be heard from our longtime friends, Kevin West and Bill Frizzell. Just to refresh our memories, BF was the only guy who would talk to us in the middle of this long dry silent period.
Now Kevin...please krank up the press release machine and letta rip!!!
And BTW can't wait to tell my doubting friends and doubting family members who did not purchase any shares, that this thing is gonna blow....BUT let me wait a bit and see what's the next move first. Boy, I'm feeling positive again!. GLTA. Windsor1934

[makamint]

I guess I picked the right day to check in... Heres to hoping all works out for us!!!

mam