USCA - 8K - 03/23/06

[TexasPride]

www.secinfo.com/dV3p8.vj2.htm

On March 14, 2006, U. S. Canadian Minerals, Inc. (the “Company”) received a “Wells Notice” from the staff of the Securities and Exchange Commission (the “SEC”). The Wells Notice notifies the Company that the SEC staff is considering recommending that the SEC bring a civil enforcement proceeding against the Company for possible violation of the federal securities laws pertaining to fraudulent disclosures, failure to file reports in a timely manner and improper accounting practices.

Under SEC procedures, the Company has the opportunity to respond to the SEC staff before the staff makes a formal recommendation regarding any action to be taken against the Company by the SEC.


Doesn't look good...

[firefighter1118]

[jj]

Randell in a WHOLE HEAP OF TROUBLE mabe thats why he dumped his house??

lol

imo

jj

admin said:

www.secinfo.com/dV3p8.vj2.htm

On March 14, 2006, U. S. Canadian Minerals, Inc. (the “Company”) received a “Wells Notice” from the staff of the Securities and Exchange Commission (the “SEC”). The Wells Notice notifies the Company that the SEC staff is considering recommending that the SEC bring a civil enforcement proceeding against the Company for possible violation of the federal securities laws pertaining to fraudulent disclosures, failure to file reports in a timely manner and improper accounting practices.

Under SEC procedures, the Company has the opportunity to respond to the SEC staff before the staff makes a formal recommendation regarding any action to be taken against the Company by the SEC.


Doesn't look good...

[only2percent]

...the SEC staff is considering recommending that the SEC bring a civil enforcement proceeding...

Lawereeze?

[tenbeers]

They have been under SEC investigation for well over a year and they are just now going to enforce the non-filing!!!!!!

[harryizmabelli]

only2percent said:

...the SEC staff is considering recommending that the SEC bring a civil enforcement proceeding...

Lawereeze?

Is that like saying "mom and dad got together and are thinking of spanking junior for being bad?"

[shoelessjoe]

PROBABLY WHY cmkx distanced themselves from them.

it was my opinion when roger glenn left cmkx and stayed with us canadian minerals that was a positioning manuver.

Hope cmkx doesn't still have any smell of ucad on them.

[oletimonesock]

I was wondering when this would happen they are way over due for regular reports.

[drunkenopossum]

LOL whats new.

[whetstone]

USCA is as short as CMKX because of the divies. This could be a manuever to wipe out the short (with CMKX approval), include them on the settlement, and merge them into CIM. We still own something like half of USCA. Look for Gemm to go down next. They are just as short. For a settlement, all of these shorts have to be cleaned up. This is a discreet way of handling it. Quick revocations on GEMM and USCA. Settlement. Reverse merge and/or split. IPO. Could all be part of the plam.

I can't believe I'm spinning this. I hate myself. I'll be over it SSssOOoonnNN.

[veritasvincit]

One less shorted divi the MM's need worry about. Way to go SEC, always on top of things...

[jwlob]

This shouldn't be pinned...It should be in the garbage can.....Slam Dunk.....

[eshille]

whetstone said:

USCA is as short as CMKX because of the divies. This could be a manuever to wipe out the short (with CMKX approval), include them on the settlement, and merge them into CIM. We still own something like half of USCA. Look for Gemm to go down next. They are just as short. For a settlement, all of these shorts have to be cleaned up. This is a discreet way of handling it. Quick revocations on GEMM and USCA. Settlement. Reverse merge and/or split. IPO. Could all be part of the plam.

I can't believe I'm spinning this. I hate myself. I'll be over it SSssOOoonnNN.

No spin...the short divy's must be cleared with the CMKX short...someway...somehow.

I always thought USCA was waiting on CMKX to file valuation before they filed their paperwork...at least that was the rumour Rendal sent back through the grapevine?

[gtajim]

maybe they want info on the money USCA/UCAD gave us

[lowriderbill]

Rhetorical questions.

1) Why would USCA fail to file for so long?

2) Why haven't we heard anything about the operation of the business?

3) Why haven't we received any updates on the progress of several projects?

Answer - valuation. Pull all of your dividend certs, IMO.

Lowriderbill

P.S. Very plausible Whetstone / Eshille

[golden1101]

lowriderbill said:

Rhetorical questions.

1) Why would USCA fail to file for so long?

2) Why haven't we heard anything about the operation of the business?

3) Why haven't we received any updates on the progress of several projects?

Answer - valuation. Pull all of your dividend certs, IMO.

Lowriderbill

P.S. Very plausible Whetstone / Eshille

I'm with you on everything but the certs part . . . There I got lost. If, as whetsone put up, there is an agreement to do so, how would pulling certs make a difference?

lol . . . Forgive my thick skull for not seeing that part.

[eshille]

golden1101 said:

lowriderbill said:

Rhetorical questions.

1) Why would USCA fail to file for so long?

2) Why haven't we heard anything about the operation of the business?

3) Why haven't we received any updates on the progress of several projects?

Answer - valuation. Pull all of your dividend certs, IMO.

Lowriderbill

P.S. Very plausible Whetstone / Eshille

I'm with you on everything but the certs part . . . There I got lost. If, as whetsone put up, there is an agreement to do so, how would pulling certs make a difference?

lol . . . Forgive my thick skull for not seeing that part.

Maybe..since rumor is they won't settle then 1.5 Trillion short on USCA will add another coffin, if the pull cert route is taken. But don't wanna think about that one unless we are paid from this one first...

[j]

lowriderbill said:

Rhetorical questions.

1) Why would USCA fail to file for so long?

2) Why haven't we heard anything about the operation of the business?

3) Why haven't we received any updates on the progress of several projects?

Answer - valuation. Pull all of your dividend certs, IMO.

Lowriderbill

P.S. Very plausible Whetstone / Eshille

I've had an order in since 01.04.06 for my GEMM, and USCA divi's... etrade cancelled them once already stating that the DTCC said they could not be certed.

So my rep put the order in again, and now she's ducking my calls. lol

It all smells very funny to me.

Pull your certs... if you can!

- J

[Deleted]

All Right, now I'm convinced. Nothing good happens until after 5/15.

There's still a lot to clean up with the divies.

[svtcobra]

doesnt look good, but we knew that once the numbers got really CLOse to the OS the SEC and the rest of the "short richards" that roll with them would pull out all the stops to screw us over.

[islandtime1]

I orderd all my divy certs when they requested the cert pull for CMKX. I have every share and divy in cert already. FWIW

Island

PS I recieved all certs! CMKX and all divy's including USCD

[broadhorizons]

The timing stinks. I am smelling a rat.

Sincerely,

Broad Horizons

[tramp]

remember, they would hand out these wells notices to knight employees..

and we know how well the 2 brothers are honest who worked for nite.

lehman brothers i think.

[marsupial]

help me out here. what purpose would pulling certs for usca serve?

[inthenow1]

J -

I got certs on all my divvies last summer through Ameritrade .. no problem at all .. wherever the SEC and their buddies clan .. a lot of crap appears with dubious explanation.

- B