Post by Twist Capper on Dec 12, 2011 13:34:31 GMT -6
www.cmkmdiamondsinc.com/index.html
December 12, 2011
To All CMKM Shareholders:
It is with a tremendous amount of excitement that I introduce myself to you, the shareholders of CMKM Diamonds, Inc. My name is Steve Kirkpatrick, and I am thankful and proud to serve you as the new President and Chairman of the Board of CMKM. I, too, am a shareholder of CMKM, and it is my strong desire to bring to you a well-deserved return on your investment in this company.
I want to express a heartfelt “thank you” to Mr. Jim Lowden, Mr. Kevin West, and Mr. Bill Frizzell for the diligent efforts these men have made to move the company forward under difficult circumstances. These are men of integrity, and I can assure you that, without each one of their contributions, it is doubtful that CMKM would have survived to this point. They all have been instrumental in helping me get “up to speed” with the many details involved in this transition. They are truly “unsung heroes” in ways that may come to light in the days ahead.
I do not personally know any of the former Board members, but want to thank them for their time of service to CMKM. I wish them well with their future endeavors.
Please allow me to address some of the issues that may be on your minds:
COMMUNICATION FROM MANAGEMENT
I will make a diligent effort to keep the shareholders informed and updated on a regular basis from this day forward. I will use the company website for written updates. However, I believe the shareholders want and deserve a forum that will allow you to ask legitimate questions, and get answers. Over the next few days, I will make contact with one or two of the Pal Talk rooms in an effort to set up a live forum for me to talk with shareholders. I hope to have the session recorded so that shareholders will be able to listen at a later date. If this medium proves to be effective, perhaps it can be used on a regular basis as important events occur.
As company finances improve, I will host webinar events online that will be recorded and archived on the company website. Also, I have had calls from owners/moderators of various boards offering communication options. I will research these opportunities as well.
Please be aware that I do not and never have posted on any of the “boards”.
It is important for shareholders to understand that I will not have the answers to every question. Public discussion of certain topics could compromise our position with regard to ongoing litigation or collection efforts. Some topics serve no value in moving the company forward. I will, however, provide honest feedback on subjects that are open to discussion.
SHAREHOLDER MEETING PLANS
As has been stated before by CMKM management, the only reason that a shareholder meeting has not been planned or held is the sheer lack of the funds needed to host such a meeting. I hope to provide enough feedback to the shareholders to fill the “void” until such time that funds to hold a meeting are available.
NEW BOARD OF DIRECTORS
As you know, all previous Board members have resigned. I am in the process of assembling a group to sit on the Board of CMKM. Unfortunately, in order to get quality professionals to sit on a corporate board, the company needs to be able to cover the Board with liability insurance. Many of the people I have in mind for the Board have significant assets, and will not join the Board without the insurance coverage. The Board will be selected, and will be on “standby” until the funds are available to insure them.
I have discussed the Board positions with several highly qualified individuals, and have commitments from two so far. I want a diverse group with the business and life experience to truly help me move this company forward. I will keep you informed on this process.
AL HODGES AND THE BIVENS LAWSUIT
I spoke with Mr. Al Hodges recently. I assured Mr. Hodges that I would help any way possible if he needs anything from company management to move his case forward. However, the Hodges case is a totally separate issue from the operation of CMKM Diamonds, Inc.
I believe Al Hodges is an honorable man and a very good attorney. From what I can gather, he has put his entire law practice and professional reputation on the line for this lawsuit. I am convinced Mr. Hodges truly believes he will prevail. I wish him the best.
However, the position of CMKM Diamonds, Inc. is neutral with regard to the Hodges effort. I can assure you that company management has no “inside” information to share.
COMPANY HEADQUARTERS
The company headquarters will be moved from Tyler, Texas in the near future. When the relocation is complete, I will update you with all the facts.
2010 TAX RETURN
As you have seen, the 2010 tax return has been released on the company website for your review. I am sure many of you have questions about the return. I will discuss the return with our accounting firm, and will be as prepared as possible to answer questions during the first Pal Talk session.
If you are not familiar with how to “read” a corporate tax return, then you may become confused or make incorrect judgments about the “numbers”. I hope each shareholder will get the real facts before making incorrect assumptions.
SHORT-TERM PLANS
There is much work to be done. However, a quick look at the 2010 tax return will help you understand my most pressing priority. The company has assets, but no operating cash at the present time. We have significant liabilities that need to be paid soon. The task of converting real estate assets into cash is underway. I was in Clayton, Georgia on Friday, 12/9/11 interviewing agents to list and sell the land we own there. I hope to sell the land rapidly for enough cash to pay all current liabilities in full.
There are several parcels of land that can be acquired through judgments – it will take time to convert those to cash. We have many millions of dollars judgments in favor of CMKM against several individuals, but many, if not most of those judgments are uncollectable.
There are other potential sources of cash on the horizon, but to discuss them in this forum could compromise our position and ability to collect funds.
LONG TERM GOALS
The following list outlines goals I hope to accomplish over the next two or three years:
1. Test 1010 core samples.
2. Return CMKX stock to trading status.
3. Form “New Corp” to work or sell off 1010 claims, giving CMKM shareholders a pro-rata stake in the “New Corp”.
4. Ultimately, provide a good and well-deserved return on investment to all bona-fide CMKM shareholders.
These goals are realistic and attainable, but not guaranteed.
SUMMARY
As I stated in my opening paragraph, I am truly excited about the potential CMKM holds. I believe in the potential enough to spend my time and energy without cash compensation at this time. I know what needs to be done, and I know how to do what needs to be done. However, I am not a “miracle worker”. I will put the work into the company that is necessary, but the company needs some good things to happen for a change.
The negative verdict in the Glenn case was a major setback for CMKM. We had a very good case, but, as we have seen in recent years – a good case doesn’t always insure a positive verdict in court.
What we have as CMKM shareholders is a company that has been damaged severely by many illegal activities in years past, but is still alive and has a good chance of becoming a profitable venture.
There are many misconceptions about CMKM due to its past history. However, let me assure each of you that I know of no conspiracies, mystery “money men”, or anything else of that nature. I hope to address these issues in more detail in the near future.
We have a much better chance for success if we are unified as shareholders. I ask for your support, and if you believe in prayer – pray for this company and for me as I lead the effort. I assure you that I will conduct business honorably and diligently. I look forward to working on your behalf in the days ahead.
God bless!
Steve Kirkpatrick
December 12, 2011
To All CMKM Shareholders:
It is with a tremendous amount of excitement that I introduce myself to you, the shareholders of CMKM Diamonds, Inc. My name is Steve Kirkpatrick, and I am thankful and proud to serve you as the new President and Chairman of the Board of CMKM. I, too, am a shareholder of CMKM, and it is my strong desire to bring to you a well-deserved return on your investment in this company.
I want to express a heartfelt “thank you” to Mr. Jim Lowden, Mr. Kevin West, and Mr. Bill Frizzell for the diligent efforts these men have made to move the company forward under difficult circumstances. These are men of integrity, and I can assure you that, without each one of their contributions, it is doubtful that CMKM would have survived to this point. They all have been instrumental in helping me get “up to speed” with the many details involved in this transition. They are truly “unsung heroes” in ways that may come to light in the days ahead.
I do not personally know any of the former Board members, but want to thank them for their time of service to CMKM. I wish them well with their future endeavors.
Please allow me to address some of the issues that may be on your minds:
COMMUNICATION FROM MANAGEMENT
I will make a diligent effort to keep the shareholders informed and updated on a regular basis from this day forward. I will use the company website for written updates. However, I believe the shareholders want and deserve a forum that will allow you to ask legitimate questions, and get answers. Over the next few days, I will make contact with one or two of the Pal Talk rooms in an effort to set up a live forum for me to talk with shareholders. I hope to have the session recorded so that shareholders will be able to listen at a later date. If this medium proves to be effective, perhaps it can be used on a regular basis as important events occur.
As company finances improve, I will host webinar events online that will be recorded and archived on the company website. Also, I have had calls from owners/moderators of various boards offering communication options. I will research these opportunities as well.
Please be aware that I do not and never have posted on any of the “boards”.
It is important for shareholders to understand that I will not have the answers to every question. Public discussion of certain topics could compromise our position with regard to ongoing litigation or collection efforts. Some topics serve no value in moving the company forward. I will, however, provide honest feedback on subjects that are open to discussion.
SHAREHOLDER MEETING PLANS
As has been stated before by CMKM management, the only reason that a shareholder meeting has not been planned or held is the sheer lack of the funds needed to host such a meeting. I hope to provide enough feedback to the shareholders to fill the “void” until such time that funds to hold a meeting are available.
NEW BOARD OF DIRECTORS
As you know, all previous Board members have resigned. I am in the process of assembling a group to sit on the Board of CMKM. Unfortunately, in order to get quality professionals to sit on a corporate board, the company needs to be able to cover the Board with liability insurance. Many of the people I have in mind for the Board have significant assets, and will not join the Board without the insurance coverage. The Board will be selected, and will be on “standby” until the funds are available to insure them.
I have discussed the Board positions with several highly qualified individuals, and have commitments from two so far. I want a diverse group with the business and life experience to truly help me move this company forward. I will keep you informed on this process.
AL HODGES AND THE BIVENS LAWSUIT
I spoke with Mr. Al Hodges recently. I assured Mr. Hodges that I would help any way possible if he needs anything from company management to move his case forward. However, the Hodges case is a totally separate issue from the operation of CMKM Diamonds, Inc.
I believe Al Hodges is an honorable man and a very good attorney. From what I can gather, he has put his entire law practice and professional reputation on the line for this lawsuit. I am convinced Mr. Hodges truly believes he will prevail. I wish him the best.
However, the position of CMKM Diamonds, Inc. is neutral with regard to the Hodges effort. I can assure you that company management has no “inside” information to share.
COMPANY HEADQUARTERS
The company headquarters will be moved from Tyler, Texas in the near future. When the relocation is complete, I will update you with all the facts.
2010 TAX RETURN
As you have seen, the 2010 tax return has been released on the company website for your review. I am sure many of you have questions about the return. I will discuss the return with our accounting firm, and will be as prepared as possible to answer questions during the first Pal Talk session.
If you are not familiar with how to “read” a corporate tax return, then you may become confused or make incorrect judgments about the “numbers”. I hope each shareholder will get the real facts before making incorrect assumptions.
SHORT-TERM PLANS
There is much work to be done. However, a quick look at the 2010 tax return will help you understand my most pressing priority. The company has assets, but no operating cash at the present time. We have significant liabilities that need to be paid soon. The task of converting real estate assets into cash is underway. I was in Clayton, Georgia on Friday, 12/9/11 interviewing agents to list and sell the land we own there. I hope to sell the land rapidly for enough cash to pay all current liabilities in full.
There are several parcels of land that can be acquired through judgments – it will take time to convert those to cash. We have many millions of dollars judgments in favor of CMKM against several individuals, but many, if not most of those judgments are uncollectable.
There are other potential sources of cash on the horizon, but to discuss them in this forum could compromise our position and ability to collect funds.
LONG TERM GOALS
The following list outlines goals I hope to accomplish over the next two or three years:
1. Test 1010 core samples.
2. Return CMKX stock to trading status.
3. Form “New Corp” to work or sell off 1010 claims, giving CMKM shareholders a pro-rata stake in the “New Corp”.
4. Ultimately, provide a good and well-deserved return on investment to all bona-fide CMKM shareholders.
These goals are realistic and attainable, but not guaranteed.
SUMMARY
As I stated in my opening paragraph, I am truly excited about the potential CMKM holds. I believe in the potential enough to spend my time and energy without cash compensation at this time. I know what needs to be done, and I know how to do what needs to be done. However, I am not a “miracle worker”. I will put the work into the company that is necessary, but the company needs some good things to happen for a change.
The negative verdict in the Glenn case was a major setback for CMKM. We had a very good case, but, as we have seen in recent years – a good case doesn’t always insure a positive verdict in court.
What we have as CMKM shareholders is a company that has been damaged severely by many illegal activities in years past, but is still alive and has a good chance of becoming a profitable venture.
There are many misconceptions about CMKM due to its past history. However, let me assure each of you that I know of no conspiracies, mystery “money men”, or anything else of that nature. I hope to address these issues in more detail in the near future.
We have a much better chance for success if we are unified as shareholders. I ask for your support, and if you believe in prayer – pray for this company and for me as I lead the effort. I assure you that I will conduct business honorably and diligently. I look forward to working on your behalf in the days ahead.
God bless!
Steve Kirkpatrick
