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Post by digby on Apr 10, 2006 21:01:23 GMT -6
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Post by digby on Apr 10, 2006 21:01:51 GMT -6
Dear CMKX Owners Group Members, On April 5, 2006 the DTCC issued a letter to all its participants regarding CMKM shares that were on deposit at the DTCC. If you have not seen the letter, it can be found at www.dtc.org/impNtc/reo/reo_9516-06.pdfThe DTCC has been communicating with representatives of the Task Force for several weeks. It has been apparent to me that the DTCC is encouraging its participants to withdraw their certs from deposit at the DTCC. The participants are the thousands of broker/dealers, banks and clearing firms that use the services of the DTCC. As I understand the process, the participants are being asked to send the DTCC WT’s (withdrawal by transfer instructions) so the DTCC can then forward that participant’s respective cert (or holdings) to the transfer agent for change into the name of the beneficial owner. The DTCC would then not have a depository position as to the shares represented by this transfer request. There have been DTCC participants (broker/dealers, banks and clearing firms) that for some reason have either refused or neglected to order WT’s of their positions even though such action has been clearly called for since November of 2005. The original deadline by CMKM for shareholders to obtain their certs was December 31, 2005 as mentioned in this letter from the DTCC. We had been seeing correspondence between the DTCC and various broker/dealers for several months noting that the DTCC was requesting that its participants obtain certs per the requests of CMKM. Several firms complied promptly to the directions of the DTCC and now have no security position in CMKM at the DTCC. This directive dated April 5, 2006 was prepared by the DTCC officials as an internal memo to its participants. It is apparent that the DTCC wished to allow its participants the option to voluntarily request withdrawal of their certs by April 14, 2006. It is equally apparent that the DTCC is telling its participants that if any respective participant does not withdraw all CMKM certs on deposit or request that the DTCC transfer the participant’s certs to the Transfer Agent, then the DTCC will perform this task for the participant. We have received many inquiries regarding the meaning of this directive from the DTCC. The letter is self explanatory. By May 15, 2006, the DTCC will have no CMKM on deposit if the acts set out in this letter occur. What does this mean to the participants? Once the DTCC forwards all certs to the transfer agent or its participants, the beneficial owners and customers of the participants must look exclusively to their respective broker for their cert. The brokers can no longer blame the DTCC or the Transfer Agent for any failure to provide a cert to its customers. As one of the members of the Task Force, I can tell you I am very concerned because we do not anticipate any additional extensions beyond May 15, 2006. We continue to receive communications from shareholders who are unable to obtain certs from their brokers. The actions of the DTCC will assist the Task Force in its efforts to complete the distribution list of shareholders that will receive their Entourage stock. I am making my final recommendations to the other members of the Task Force as to the final mail out to come shortly from the company. When the company approves the final mailout to the shareholders, I will comment further with more details about the implementation of that mailout. Onward, Bill |
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Post by goldeagle on Apr 10, 2006 21:09:23 GMT -6
Mailout = from the Company
I think YYYYYEEEEEEAAAAAAHHHHHHH
Bout time for some communication.
I think I'll pass out now
LOL
GL2A
GE
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Post by saturn on Apr 10, 2006 21:10:02 GMT -6
YYYAAAOOOHHHHZZZAAAA!!!!!
Saturn
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Post by goldeagle on Apr 10, 2006 21:10:42 GMT -6
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Post by tango on Apr 10, 2006 21:11:54 GMT -6
Good update. Look forward to seeing what's in the mail out. We'll see. I think we are taking baby steps, I guess we have been for years now...
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Post by lovetofly on Apr 10, 2006 21:12:42 GMT -6
'final mailout' ??
Did I miss a previous mailout?
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Post by goldeagle on Apr 10, 2006 21:15:15 GMT -6
Not final as in last mailout
Final as in last editing before the mailout
Everything can be seen as having two or more meanings.
MOO
GL2A
GE
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Post by tramp on Apr 10, 2006 21:17:25 GMT -6
like i spoke in paltalk this afternoon, how many weeks or months of meetings did IBM have with the dtc to get this to be done? letter was april 5 and they have just 1 month to get certs out of whats left.
only took me 1 week fom ameritrade to get kori's cert sent to her, i ordered last friday for her. shares were gone from her acct' this morning.
yep, they moved fast didn't they?
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Post by portrush on Apr 10, 2006 21:20:01 GMT -6
More to the point guys...what is he implying by using the terminology "mailout?" I am generally not one to slice and dice the phraseology, but this just stands out as suspicious to me. We have had PRs, letters, statements and even comments...but never a mailout. Poor choice of words...or specific choice of words? pr  |
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Post by svtcobra on Apr 10, 2006 21:20:10 GMT -6
the mailout will just be a directive to shareholders to Pull their certs for their piece of entourage.
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Post by goldeagle on Apr 10, 2006 21:20:33 GMT -6
What needs to be implemented?  ? Toooo many questions, Way tooooooooo many answers. I don't say this in a critical way. I think that it is great that we will now get some info from the company and what is in that mailout needs to be implemented. It could be just the ETGMF shares all the way to $40.00/share. I bet its somewhere inbetween. GL2A GE |
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Post by lurkoholic on Apr 10, 2006 21:21:33 GMT -6
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Post by tramp on Apr 10, 2006 21:25:43 GMT -6
I am making my final recommendations to the other members of the Task Force as to the final mail out to come shortly from the company. When the company approves the final mailout to the shareholders, I will comment further with more details about the implementation of that mailout.
----------------
looks like there us a mailout before a final mailout.
notice there is no date on any mailing.
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Post by goldeagle on Apr 10, 2006 21:25:45 GMT -6
I now believe that the FINAL is as in 'The LAST mailout from the company. The theories are going to go crazy now!!!!!!!!
I'm setting my alarm a little earlier tomorrow morning. Gotta check those theories. Good night from South Florida.
MOO
GL2A
GE
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Post by moodswingtrader on Apr 10, 2006 21:27:18 GMT -6
the mailout will just be a directive to shareholders to Pull their certs for their piece of entourage. I agree with you. That's what they said in a previous update. However, why now ... I mean why sooo late?! |
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Post by fastwalker on Apr 10, 2006 21:27:22 GMT -6
Tramp....."the option to voluntarily request withdrawal of their certs by April 14, 2006."
Maybe this is the `14th April date / information that Zorba the Greek is referring to? If so, I'm impressed and want his source...
FW
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Post by donwat on Apr 10, 2006 21:29:06 GMT -6
Ordered my daughters cert on 3/14/06...Checked today and it has been mailed to daughter....Ameritrade
donwat
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Post by marshacmkx on Apr 10, 2006 21:29:50 GMT -6
This kind of pokes holes in the theory that the 'last mm has settled', doesn't it? It sounds like several broker/dealers have been simply ignoring the whole thing, in spite of their client's calls and actions. That is a very sobering thought. Be very careful who you do business with!
I wish we could get a good list of the broker/dealers who are not cooperating.
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Post by forevercmkx on Apr 10, 2006 21:30:17 GMT -6
Niceeeeeee!
Peace,
forevercmkx
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Post by tramp on Apr 10, 2006 21:31:25 GMT -6
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Post by makamint on Apr 10, 2006 21:32:36 GMT -6
paragraph 2
This directive dated April 5, 2006 was prepared by the DTCC officials as an internal memo to its participants. It is apparent that the DTCC wished to allow its participants the option to voluntarily request withdrawal of their certs by April 14, 2006. It is equally apparent that the DTCC is telling its participants that if any respective participant does not withdraw all CMKM certs on deposit or request that the DTCC transfer the participant’s certs to the Transfer Agent, then the DTCC will perform this task for the participant. We have received many inquiries regarding the meaning of this directive from the DTCC. The letter is self explanatory. By May 15, 2006, the DTCC will have no CMKM on deposit if the acts set out in this letter occur.
"What is so hard for you dumbbutts to understand..."
I also assume the 'mailout' to be the directive to order certs as previously said by the Frizz.
just my 20,000 shares worth
mam
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Post by kibert79 on Apr 10, 2006 21:37:59 GMT -6
Implementation? doesn't that mean that he will tell us what to do with the package/mailout? IMO......YES. |
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Post by noahltl on Apr 10, 2006 22:02:17 GMT -6
The mail out is coming from the "company" not the Task Force. Simple instructions on cert pull to the rest of the shareholders should come from the TF, not the company.
We also have the information from the last PR about the Nevada State Law, which points to a "meeting" and "proxy vote". That would come in a mail out from the "company" And most certainly would be "final"
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Post by blue32 on Apr 10, 2006 22:02:48 GMT -6
More to the point guys...what is he implying by using the terminology "mailout?" I am generally not one to slice and dice the phraseology, but this just stands out as suspicious to me. We have had PRs, letters, statements and even comments...but never a mailout. Poor choice of words...or specific choice of words? pr Port... I think Bill is referencing this wording from the last PR: "The Task Force is preparing to provide written notice to CMKM stockholders pursuant to Section 78.370 of the Nevada Revised Statutes....." |
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