Task Force Update

[xtremeriches]

If the Market didn't collapse when Byrne and others bought up their OS and there are still shares trading then why do we think the DTCC cares about our Naked short?

[whetstone]

Here are my thoughts on this situation. They are all mine and based only on what I see as the big picture. Nothing new here – just trying to put it all together.

The extension was:
A. A concession to the DTCC to give them more time and make SURE that all shareholders were notified.
B. A bit of leverage used against the DTCC to say “ok, we’ll extend the time but we are going to make sure we get a LOT more certs faxed in.” The TF KNEW that they could run the DTCC out of certs before we started.

Very soon we will be able to say “We have accounted for all of our shareholders. What are YOU going to do with the rest of the people who also claim to be shareholders? We cannot issue any more certs. But you can match the disbursement of our assets if you want.”

There is still room for a buyout and for a CIM IPO. I expect the CIM IPO to be in the next PR. I think the TF has successfully separated the CMKX issues from the CIM conglomerate issues except for the short position of every broker on the CIM dividend.
We have to remember that GEMM is short as much as CMKX.
USCA is short as much as CMKX
CIM is short as much as CMKX

I think that the SGGM deal never consummated. SGGM shows no signs of having 10 million dollars so I don’t think we have 200 billion shares of their stock. I DO, however think that there will be something happening with SGGM as part of the conglomerate. UC’s niece needs a job.

I am curious about the relationship of UC with Rendall Williams and with John “Ed” Donhau. We gave up the American Shaft pretty easily IMO. And Donhau is out of the CMKM picture except for his position in USCA (of which we own about half, maybe more)

Years ago, when there were only 200 billion shares in the A/S there was a rumor that DeBeers offered UC $6 a share and UC told them to shove it. I hope that’s true. It shows me where UC’s mindset is as far as a PPS goes.

The notice for a shareholders meeting? Wonder if they’ll call it for the steps of the DTCC. I can’t wait to see the newspaper ad. USA Today or Wall Street Journal? (I’m not convinced we’ll get that far before the DTCC caves in.)

Here are my remaining questions regarding the PR.
If no one on the task Force has a conflict of interest, does that mean that Frizzell sold all of his shares?
What are 40-50 thousand shareholders going to do with a shell company?
How are ETGMF shares ever going to be worth anything with a 40 million share dilution hanging over their heads?
How exactly was all of this stuff done without a majority approval or proxy vote?
Where are all of the insider shares?
Why does CMKM need an attorney and why THIS attorney? This one makes me happy and uncomfortable. An attorney means that maybe we trade again. An attorney also means that maybe there are lawsuits against the company. (I’m not sure what for but someone will try.) OR that CMKM is filing suits against regulatory agencies. (doubtful)

Make sure you read Digby. I think he is on the right track. And if someone has the answers to any of my questions, feel free to chime in and offer some possibilities. I used to do massive amounts of DD on the 32/66 board but my heart isn’t in it anymore. I’m more content to wait and see than I was 3 years ago.

[inthenow1]

whetstone -

Thoroughly enjoyed your analysis .. gets large wheels turning small wheels .. one never knows where that leads. I was informed .. thank you.

Bob

[lana41092]

whetstone - I know what you mean about burnout. You reach a point where you just can't do it anymore.

Regarding your comments....

I don't think Frizzell ever was a shareholder. John Martin was the shareholder and he got Frizzell involved as his council and then council for the OG. At least, I think so.

I don't personally think they would announce a new law firm as council for CMKM if they were only concerned about lawsuits. Why announce that? There is definate separation of Stocklein and CMKM. That's the message, and one wonders why they would spend so much time on a measly $20-million stock distribution.

Remember Andy saying that UC told him that all that was left was an empty shell? Well, the fact that we all own this so-called empty shell is a strange one. And, the fact that a vote is coming up is really intriguing -- given we are an empty shell. Somehow, I don't think UC was being totally honest with Andy when he made that comment. We will have to wait this one out.

The total number of certs that have been given out is totally baffling to me. If they are giving out "fake certs", then the DTCC and SEC must be in on a "deal of some sort". If they are not fake certs, then UC and family do not own as many shares as we think, and there may not be a naked short after all. I don't get this one.

On well,

Lana

[dumguy]

The Task Force continues to receive notice of significant rumors pertaining to the receipt of funds and erroneous agreements reached with brokerage firms short in CMKM's stock. Other than the funds received from Casavant to pay for certain of the costs associated with the Task Force's operations, there have been no funds received from brokers/dealers or any other sources. However, Frizzell has been in communication with firms as to issues pertaining to the inability to produce CMKM stock.

1. Why not just say no settlement?
2. They spent the first half of this update telling us that they are not with the company.
3. They did not say they were not in discussions for a settlement
4. The Task Force would not receive the money, but the T/A may have.

imo
dumguy

[tightwod]

Just typed in my cert number and lookie what I got ;D

"Confirmation: OK (We have your cert, please do not send again.)"

Does that make me officially bona-fied..

[sparkles]

xtremeriches said:

If the Market didn't collapse when Byrne and others bought up their OS and there are still shares trading then why do we think the DTCC cares about our Naked short?

That's a good question. I think there are and were a lot of excuses with Overstock, I think you may have to be halted to stop the "merry-go-round" of shares to actually prove it.
Of course, IMO...I really know nothing