Post by Twist Capper on Nov 30, 2007 19:08:13 GMT -6
Frequently Asked Questions
FAQ Session #8: November 30, 2007
Q) Why is Urban Casavant’s name still being used on certificates, why isn’t Kevin West signing the certs?
When Mr. Casavant resigned from the Company on March 29, 2007 there was a supply of stock certificates being held by the transfer agent to issue to shareholders. Mr. West discussed this with the transfer agent. It is standard practice to continue to use these certificates until the current supply of printed certificates runs out.
Q) I am told by my broker that only CMKM can declare and issue a "worthless stock" statement so that I can claim the loss on my income tax return. What do I have to do to get this statement?
Current management is working diligently to bring value back into the Company and does not feel that its’ stock is worthless and will not issue any statement to that effect. The Company cannot give any legal and/or tax advice to anyone concerning their holdings. Please consult your personal legal and accounting professional for advice on these matters.
Q) Do you know approximately how many shareholders have still not received their certificates for CMKM? Do you know approximately how many shares these certificates represent?
The shareholder audit has not been completed. Until this audit is complete, there is no way to identify the total number of shareholders that have not received their CMKM stock certificates or the number of shares represented.
Q) What was the CMKM Task Force subpoenaed for?
Many former Company officers, insiders, attorneys and others have been subpoenaed in the past for a deposition by the SEC. The Company has not been privileged to the content of these depositions with the exception of depositions that were offered as evidence for the Administrative Hearing in May of 2005 and one other recent deposition that was an individual not related to the former CMKM Task Force.
Q) Do you have any info on the $1 million paid to CIM/CMI for the 10% lifetime royalty?
The one million dollar amount you refer to was a ledger entry in a stock recap dated August of 2003 referring to a “buy down of royalties in zinc claims equivalent to $1,000,000”. Prior management has left Mr. West with no records concerning the CIM transactions. Shares worth millions of dollars were given to family members and numbered companies referencing zinc mine acquisitions and zinc claims. No records can be found by the company which suggest that Casavant International Mining Corporation (CIM) is connected in any way with CMKM Diamonds, Inc. A Nevada Secretary of State search for this entity will show that CIM was revoked on February 1, 2007 and that the most recent officers of that company were Michael D. Williams and Ron Casavant. It appears the zinc claim buy-down of $1 million was only for the benefit of a few insiders. We are continuing our investigation into the insider dealings and the issuance of stock related thereto. There is no evidence that there were ever any funds or other assets set aside for the benefit of CMKM shareholders.
Q) Do Company records show that the Vatican is a major CMKM shareholder?
Shareholder records do not indicate that any one shareholder has more than a 1% (one percent) ownership in CMKM stock except for the shares issued in the name of one brokerage house. There are no shares issued in the name of the Vatican or anything similar to that organization.
Q) Did we win the cases that are in default?
Obtaining a default is the first step in collecting damages from a party that does not respond to a lawsuit. The company will be required to prove damages and formalize a damage award by obtaining a judgment from the Court based on such award. The company must then collect damages from the defaulting party.
Q) Gentlemen, I bought X amount of shares from Delidog back in Nov 06, Received my cert from 1st Global. Are these shares considered bona fide, or are they some of the shares sold in question?
There are many questionable circumstances surrounding the buying and selling of certificates in the past. This question cannot be answered until the shareholder audit has been completed.
FAQ Session #8: November 30, 2007
Q) Why is Urban Casavant’s name still being used on certificates, why isn’t Kevin West signing the certs?
When Mr. Casavant resigned from the Company on March 29, 2007 there was a supply of stock certificates being held by the transfer agent to issue to shareholders. Mr. West discussed this with the transfer agent. It is standard practice to continue to use these certificates until the current supply of printed certificates runs out.
Q) I am told by my broker that only CMKM can declare and issue a "worthless stock" statement so that I can claim the loss on my income tax return. What do I have to do to get this statement?
Current management is working diligently to bring value back into the Company and does not feel that its’ stock is worthless and will not issue any statement to that effect. The Company cannot give any legal and/or tax advice to anyone concerning their holdings. Please consult your personal legal and accounting professional for advice on these matters.
Q) Do you know approximately how many shareholders have still not received their certificates for CMKM? Do you know approximately how many shares these certificates represent?
The shareholder audit has not been completed. Until this audit is complete, there is no way to identify the total number of shareholders that have not received their CMKM stock certificates or the number of shares represented.
Q) What was the CMKM Task Force subpoenaed for?
Many former Company officers, insiders, attorneys and others have been subpoenaed in the past for a deposition by the SEC. The Company has not been privileged to the content of these depositions with the exception of depositions that were offered as evidence for the Administrative Hearing in May of 2005 and one other recent deposition that was an individual not related to the former CMKM Task Force.
Q) Do you have any info on the $1 million paid to CIM/CMI for the 10% lifetime royalty?
The one million dollar amount you refer to was a ledger entry in a stock recap dated August of 2003 referring to a “buy down of royalties in zinc claims equivalent to $1,000,000”. Prior management has left Mr. West with no records concerning the CIM transactions. Shares worth millions of dollars were given to family members and numbered companies referencing zinc mine acquisitions and zinc claims. No records can be found by the company which suggest that Casavant International Mining Corporation (CIM) is connected in any way with CMKM Diamonds, Inc. A Nevada Secretary of State search for this entity will show that CIM was revoked on February 1, 2007 and that the most recent officers of that company were Michael D. Williams and Ron Casavant. It appears the zinc claim buy-down of $1 million was only for the benefit of a few insiders. We are continuing our investigation into the insider dealings and the issuance of stock related thereto. There is no evidence that there were ever any funds or other assets set aside for the benefit of CMKM shareholders.
Q) Do Company records show that the Vatican is a major CMKM shareholder?
Shareholder records do not indicate that any one shareholder has more than a 1% (one percent) ownership in CMKM stock except for the shares issued in the name of one brokerage house. There are no shares issued in the name of the Vatican or anything similar to that organization.
Q) Did we win the cases that are in default?
Obtaining a default is the first step in collecting damages from a party that does not respond to a lawsuit. The company will be required to prove damages and formalize a damage award by obtaining a judgment from the Court based on such award. The company must then collect damages from the defaulting party.
Q) Gentlemen, I bought X amount of shares from Delidog back in Nov 06, Received my cert from 1st Global. Are these shares considered bona fide, or are they some of the shares sold in question?
There are many questionable circumstances surrounding the buying and selling of certificates in the past. This question cannot be answered until the shareholder audit has been completed.
