Post by portrush on Oct 31, 2016 9:12:23 GMT -6
CMKM/NHHI Webinar #60 Notes, FWIW
8PM …Just tuned in and he still talking about NHE.
My comments will be in [brackets] the balance is his comments although not direct quotes unless noted in “quotation.” Sorry in advance for any spelling or grammatical errors.
pr
Focus has shifted from taking on additional wells to just focusing on the existing 11 wells.
If he can get these 11 pumping half of their expectations (20 barrels a day)…there’s a good chance to sell them if they produce 10 barrels a day for $250-350,000. He may do that in order to get 5X their money back.
The other option is to drill more wells—at 1200 foot—for about $25K, per. They’re drilling with a water-well drill. Might get 20 barrels a day out of a new well for while then eventually it would work its way down to a couple barrels a day.
They turned down the option on the 64 wells he spoke about previously. The deal wasn’t anywhere near what he thought.
He has additional US investors sitting in the wings and a meeting with some guys from Norway and some folks from Mexico and Israel—with an unlimited amount of money to invest—but want to start with $200K-$1Mil. There are quite a number of foreign investors looking for something over here.
Summarizing NHE:
• Not fully invested—still holding some money in their account.
• Will probably spend the money on a final work on 11 wells to get them working.
• Selling a small deal in OK.
• Wants to get all 11 wells they have working as best they can.
• Prices in the market have gone up slightly…to about the $50 barrels mark. If he gets to 10 barrels a day then they’d be worth $250K and on the original $50K investment it would be a good return.
• He has “so many deals” coming at him—he’s in no hurry.
• Hopes to have all 11 wells totally functioning by the end of next month.
CMKM/NHHI UPDATE 8:21 PM
Nov 18 marks five years of SK in charge of CMKM.
Litigation Update: the criminal trial is still set for Nov 15, but he’s not hearing much about it…so he doesn’t think it will happen, but he’s not hearing about it.
The sense that he has from people that do talk to the DOJ is that they’re not prepared for a trial and expecting another delay. Edwards is finished with his 45-day medical exam…and he was shipped to a facility in NC or OK for evaluation. SK believes he completed that but has no confirmation of such. Has no idea what the results were. He had an email that Edwards left OK…but then he had heard he went to NC. So he should be through with the evaluation.
SK asks…if anyone on the webinar knows what the results are or what it means, let us know during the Q&A portion.
He also thinks its possible they could hold the trial but that Edwards could ask for more time due to the exam timing…or this could all plead out. Edwards, SK says, that Edwards is the last one he would expect to plea out…Edwards feels the USA owes him an apology and he is innocent.
SK “doesn’t know where any of this stands right now.”
[read that again]
Now he’s telling us about Turino’s plea…repeating what we all have read from the DOJ regarding the plaintiffs thus far.
He’s getting a text now that someone “in the know” says that the DOJ has not seen the evaluation and therefore is expecting a delay. They will notify through the normal system.
The only other litigation ongoing are the recovery suits filed and the company is in court all over the place now. Some success—they’ve gotten one deed and they are cleaning up the title and they have a full price offer on the deal. Can’t close until title is cleaned up. Granted some ownership in another entity…but the court ended up giving the entity to the company. Needs to clean up the title there too before the titles can be insured and transferred. Then those go on the market. Another they’re expecting to get a deed on soon and yet another being foreclosed on and the owner of the property has challenged CMKM in court over it.
SK says this “recovery stuff is a hard fight”…some will eventually be easier, but the first group they’ve taken on have not been easy at all.
Edwards was a pretty smart guy. (again SK says…”John if you’re listening tonight, you’re pretty slick.”) Is he capable to fake dementia?
, SK thinks he can and would be capable to faking a seizure. He hopes Edwards has to stand trial and if he cuts a plea deal SK hopes he stays in jail a long time.
Every day that goes by shows the defendants were definitely crooked people out to take “your money” and they “definitely took your money.” Some of their cohorts and accomplices that didn’t get indicted are also crooks.
He says every time they run into a problem…they get a deed in…then they have to go back to court to clean up the title. Consequently they spend more money and then make less when its sold.
He mentioned his expectations with the WF suit…only to get booted out of court, then to find out the company didn’t have a case…then only to get a small settlement.
Company is still waiting for capital to work with from their collections on properties…but the net-net after all the costs/expenses hasn’t been that much and no recovery has been easy. They’re making progress but its difficult. It is a slow painful process to get enough money for the company to move ahead but he is confident it will happen.
[8:52 SK went offline (previously stated he was having computer issues)]
[8:57 he’s back.]
[He’s repeating everything he just said.]
“There’s a possibility there may never be a trial folks. The criminal trial does nothing for the company other than brings some closure. The issue with restitution and the likelihood of these people paying a red nickel is slim to none.”
Let’s be realistic—who has assets out of this crowd? Edwards, Urban, Turino. Does he know of some of the assets—possibly but he’s not going to discuss that.
We have lawyers working everyday to recover assets but we’re at a point where we need to see some money coming back in. Until we turn the corner and see some more assets coming back in, the attorneys won’t continue to pour money into recovering assets until they get something first. They’ve been working for a year abut haven’t made any money yet.
In a lot of cases these assets are encumbered with taxes. If their real properties the judgment debtors never paid the taxes. So we’ve recovered some but we’ve had to pay taxes to keep it from being auctioned off underneath us because the taxes are due. It costs a lot to get the title cleaned up. It’s just a deal that takes time, patience and endurance.
The goal is to being in enough cash to purchase some oil wells. We need NHHI to pay for its own oil wells and not rely totally on NHE. They will have to buy properties that are not pristine, they’re cheap, but its where the company will have to start.
When he brings in other investors, like these guys coming from Norway, he needs to realize that we’re dealing with limited budgets and move cautiously. The potential is there in the oil business, but it’s a big money deal. Most deal with millions of dollars and we have to deal with hundreds of thousands of dollars to get a small piece. We need to bide our time and move slowly.
[He is waxing poetic about how long this company has been around and that no other company has lasted this long.]
“It must be a God thing. One day at a time, one step at a time…as slow as it is”
What’s amazing to him is that he’s still dealing with Transfer Online, signing indemnities every week, as people are trying to keep their misplaced certs valid, or splitting with others. He’s amazed at the activity this late in the game. Maybe some believe there is some Trust out there and that’s just not the case.
Frizzell sent him an email Frizz got from Global Intelligence…who doesn’t even work there, he is one of the founders. He said people are calling them asking about an alleged trust and they’re forwarding Frizzell these comments. These are people who are hopeful there is a Trust out there. Frizz asked him—is this some of the Al Hodges stuff. SK said he would deal with it…Frizz is completely out of the loop—he doesn’t deal with shareholders any more—he can’t afford it.
SK called Global Intelligence and explained who he was and explained all about Peter Maheu and all this crazy talk about a Trust. He called the shareholder back—but he’s not calling Acca—although SK says Acca can call him. Apparently Acca is the one saying all this stuff about a Trust. There is no big payment coming.
The only thing left that SK says that offers help in recovering some money from is this company NHHI. Now that we have the collections company working for us—as long as we can get them some money back to them—they’ll continue working for us. Six lawyers working for us on a daily basis and a collection agency.
It’s a very tedious process dealing with all these attorneys. But as NHE produces some income and NHHI gets invested in the oil wells it should start to grow. At some time the judgments will run out and the company will have to make money on its own. We’ll get there, God willing, if we live long enough.
Goal is to grow income stream from the oil well. Hopes to have a strong enough financial basis to take the company back to trading at some point in the future.
He would like to find a better way to inform shareholders but “at this time it really doesn’t matter if you’re informed or not.” “Whether you know what’s going on doesn’t change what the company is doing based on its limited capital.”
Q&A
Is the DOJ working in concert with the SEC on this case or is that something completely different? Does the DOJ consider our case small—compared to others?
It’s a big case and a complex case and its going to cost a lot to try it. Our case is sold old there’s not much the SEC can do about it. What they should have done is closed the company down during the height of the shares selling. There was plenty of smoke for a number of years and they let the company free-trade. They should have de-listed the company after the first couple of quarters went by with no reports filed from the company.
He thinks the SEC is more interested in not seeing the stock market implode than they arte about individual investors and he doesn’t think they will do anything with this company again.
Are you aware of the ban lifted from domestic US oil exports?
Yes, he’s aware. At this moment its not beneficial to any significance to the pricing or US producers—of which we are a very small part of—if there wasn’t such a glut our ability to export has made much of a difference. The world-wide oil glut is subject to overnight ‘turns’…where we could suddenly find ourselves in a position to export a lot of oil. Its great they did, but its not making a big difference for US producers.
Is CMKX still in business or does NHHI own CMKX?
NHHI, Inc. is the same company as the formerly named CMKM Diamonds, Inc. Same TX C-corp. Same shareholders. It is the same company with a NEW name. He did it to get away from the Casavant name. He wanted to start planting the seeds for the future with a new identity. Anyone who googled CMKM Diamonds would find all the corruption from the past—so he changed the name. The stock certificates are fine—we can’t afford to change the name on all the certs.
Could you give a recap on our oil wells?
NHE owns the wells. SK is an investor in NHE and the managing investor. NHE agreed to give NHHI a free equity stake in NHE.
We have leases in Eastland County TX, not producing, but now being sold back to the people who we bought them from. They got sidetracked on a deal with a hedge fund and we’re going to sell our 37.5% ownership back to SK’s friend in Fort Worth and get out of the deal. They’re ready to drill and we can’t come up with the capital to participate at the level we would be required. We will make a profit on this deal. These wells are not producing.
We have 2 wells in OK, Harrison Townsend leases, we own 1/3 and they’re producing 2.5 barrels a day and we’re going to sell those. Get our money back out of there ($15K).
We have OK leases south of Tulsa, 7 of the wells are powered back up with only 6 producing at this point. (11 Total, 10 oil producing and 1 salt water). Will have the balance up and running soon—hopefully within 30 days. Have to make repairs to the wells to get them working.
Do we have a ballpark date for a return to trading and the possibility of a short squeeze?
SK thinks it has probably worked out better that its taken longer since we didn’t get a big WF settlement. (which took 3.5 in court over that) We didn’t have a direction for the company. Right now, based on the current lay of the land and have finally developed a real recovery effort on these judgments—we have really good people on the recovery team—including one of the very smartest lawyers SK has ever met. He doesn’t represent us directly but he does represent the judgment team.
Right now…SK says we need to give ourselves some time for NHHI to buy some of its own wells and he thinks there will be a good enough track record to go back to trading in 24 months. The financials will need to be good and it will take a couple hundred grand to actually go back to trading. He doesn’t want to go out with nothing and try to raise money…he wants a profitable track record to show the market that we’re for real. His goal, not too optimistic goal would be 24 months but it is a moving target based on recovery efforts and the price of oil.
Short squeeze is detested by the SEC in terms of discussing it. There is no intention of a reverse split…same share structure as we had…and we just see what happens. He will go talk with the SEC at the time and utilize the State Gov representatives to try and get an audience with the SEC…as high up the ladder as possible.
[now he’s talking about politics…again]
IF there is a naked short and the SEC does its job, then some good things could happen. He doesn’t know if there is a naked short, or how much there is…but its worth a try. Maybe the price will be higher than you paid.
Is there any chance the 1010 agreement with Koch will ever be activated?
SK says no…he tried but even after he went to meet with him the communication went down the tubes. He tried to revive the deal and nothing every happened. At this point in time trying to get back into mining…CMKM was never in mining it was all smoke and mirrors. Trying to revive that deal would be suicide and we would end up over our head at best.
To this day SK doesn’t know anyone in Saskatchewan making money mining diamonds. We have a good plan, with limited capital, it won’t grow fast because we don’t have the capital but we can make money in the oil business.
He lives in Houston now and has met more people in oil and there are lots of stories of people starting small and build their companies up over time to become big companies.
What happened to CMKX patents they had?
SK has never heard of any patents that CMKM has. He’s never had the attorneys mention such, or any documents of such. In the last 5 years he’s never seen/heard anything like that.
[Same guy asks…maybe he used the wrong word, patents, he was speaking about his dividend shares. Then he asked if this company is only about oil now and no longer in diamonds, gold, silver or anything like that.]
SK is now explaining that everything UC said they had was all smoke and mirrors and the company didn’t have any value and there was never anything else—it was an empty shell. That was one of the biggest problems with WF, we had a value-less company trying to sue a big bank for $60million and our company during that time was being run by crooks. You can’t recover anything against the big bank when your company was just an empty shell. You were sold a bill of goods.
The company has survived from delisting to this day on litigation settlements and judgments and that’s it. The pump and dump guys, Edwards, Urban and others, were involved in other companies that they did stock fraud through and were indicted for deals beyond CMKM but CMKM didn’t have any ownership in any of those.
[The questioner follows up with some question as it relates to the Trust]
SK is saying there isn’t anything from an alleged Trust—it just isn’t there. The only hope you have of getting anything out of this stock is if this company can build up enough value to go back to trading again.
No other questions.
[Now he's back talking about politics again...and trying to get people to vote. Going on about Obama and Clinton...I'm done. I've voted, don't need to listen to this.]
End of webinar. 10:35 PM CST
8PM …Just tuned in and he still talking about NHE.
My comments will be in [brackets] the balance is his comments although not direct quotes unless noted in “quotation.” Sorry in advance for any spelling or grammatical errors.
pr
Focus has shifted from taking on additional wells to just focusing on the existing 11 wells.
If he can get these 11 pumping half of their expectations (20 barrels a day)…there’s a good chance to sell them if they produce 10 barrels a day for $250-350,000. He may do that in order to get 5X their money back.
The other option is to drill more wells—at 1200 foot—for about $25K, per. They’re drilling with a water-well drill. Might get 20 barrels a day out of a new well for while then eventually it would work its way down to a couple barrels a day.
They turned down the option on the 64 wells he spoke about previously. The deal wasn’t anywhere near what he thought.
He has additional US investors sitting in the wings and a meeting with some guys from Norway and some folks from Mexico and Israel—with an unlimited amount of money to invest—but want to start with $200K-$1Mil. There are quite a number of foreign investors looking for something over here.
Summarizing NHE:
• Not fully invested—still holding some money in their account.
• Will probably spend the money on a final work on 11 wells to get them working.
• Selling a small deal in OK.
• Wants to get all 11 wells they have working as best they can.
• Prices in the market have gone up slightly…to about the $50 barrels mark. If he gets to 10 barrels a day then they’d be worth $250K and on the original $50K investment it would be a good return.
• He has “so many deals” coming at him—he’s in no hurry.
• Hopes to have all 11 wells totally functioning by the end of next month.
CMKM/NHHI UPDATE 8:21 PM
Nov 18 marks five years of SK in charge of CMKM.
Litigation Update: the criminal trial is still set for Nov 15, but he’s not hearing much about it…so he doesn’t think it will happen, but he’s not hearing about it.
The sense that he has from people that do talk to the DOJ is that they’re not prepared for a trial and expecting another delay. Edwards is finished with his 45-day medical exam…and he was shipped to a facility in NC or OK for evaluation. SK believes he completed that but has no confirmation of such. Has no idea what the results were. He had an email that Edwards left OK…but then he had heard he went to NC. So he should be through with the evaluation.
SK asks…if anyone on the webinar knows what the results are or what it means, let us know during the Q&A portion.
He also thinks its possible they could hold the trial but that Edwards could ask for more time due to the exam timing…or this could all plead out. Edwards, SK says, that Edwards is the last one he would expect to plea out…Edwards feels the USA owes him an apology and he is innocent.
SK “doesn’t know where any of this stands right now.”
[read that again]
Now he’s telling us about Turino’s plea…repeating what we all have read from the DOJ regarding the plaintiffs thus far.
He’s getting a text now that someone “in the know” says that the DOJ has not seen the evaluation and therefore is expecting a delay. They will notify through the normal system.
The only other litigation ongoing are the recovery suits filed and the company is in court all over the place now. Some success—they’ve gotten one deed and they are cleaning up the title and they have a full price offer on the deal. Can’t close until title is cleaned up. Granted some ownership in another entity…but the court ended up giving the entity to the company. Needs to clean up the title there too before the titles can be insured and transferred. Then those go on the market. Another they’re expecting to get a deed on soon and yet another being foreclosed on and the owner of the property has challenged CMKM in court over it.
SK says this “recovery stuff is a hard fight”…some will eventually be easier, but the first group they’ve taken on have not been easy at all.
Edwards was a pretty smart guy. (again SK says…”John if you’re listening tonight, you’re pretty slick.”) Is he capable to fake dementia?
, SK thinks he can and would be capable to faking a seizure. He hopes Edwards has to stand trial and if he cuts a plea deal SK hopes he stays in jail a long time. Every day that goes by shows the defendants were definitely crooked people out to take “your money” and they “definitely took your money.” Some of their cohorts and accomplices that didn’t get indicted are also crooks.
He says every time they run into a problem…they get a deed in…then they have to go back to court to clean up the title. Consequently they spend more money and then make less when its sold.
He mentioned his expectations with the WF suit…only to get booted out of court, then to find out the company didn’t have a case…then only to get a small settlement.
Company is still waiting for capital to work with from their collections on properties…but the net-net after all the costs/expenses hasn’t been that much and no recovery has been easy. They’re making progress but its difficult. It is a slow painful process to get enough money for the company to move ahead but he is confident it will happen.
[8:52 SK went offline (previously stated he was having computer issues)]
[8:57 he’s back.]
[He’s repeating everything he just said.]
“There’s a possibility there may never be a trial folks. The criminal trial does nothing for the company other than brings some closure. The issue with restitution and the likelihood of these people paying a red nickel is slim to none.”
Let’s be realistic—who has assets out of this crowd? Edwards, Urban, Turino. Does he know of some of the assets—possibly but he’s not going to discuss that.
We have lawyers working everyday to recover assets but we’re at a point where we need to see some money coming back in. Until we turn the corner and see some more assets coming back in, the attorneys won’t continue to pour money into recovering assets until they get something first. They’ve been working for a year abut haven’t made any money yet.
In a lot of cases these assets are encumbered with taxes. If their real properties the judgment debtors never paid the taxes. So we’ve recovered some but we’ve had to pay taxes to keep it from being auctioned off underneath us because the taxes are due. It costs a lot to get the title cleaned up. It’s just a deal that takes time, patience and endurance.
The goal is to being in enough cash to purchase some oil wells. We need NHHI to pay for its own oil wells and not rely totally on NHE. They will have to buy properties that are not pristine, they’re cheap, but its where the company will have to start.
When he brings in other investors, like these guys coming from Norway, he needs to realize that we’re dealing with limited budgets and move cautiously. The potential is there in the oil business, but it’s a big money deal. Most deal with millions of dollars and we have to deal with hundreds of thousands of dollars to get a small piece. We need to bide our time and move slowly.
[He is waxing poetic about how long this company has been around and that no other company has lasted this long.]
“It must be a God thing. One day at a time, one step at a time…as slow as it is”
What’s amazing to him is that he’s still dealing with Transfer Online, signing indemnities every week, as people are trying to keep their misplaced certs valid, or splitting with others. He’s amazed at the activity this late in the game. Maybe some believe there is some Trust out there and that’s just not the case.
Frizzell sent him an email Frizz got from Global Intelligence…who doesn’t even work there, he is one of the founders. He said people are calling them asking about an alleged trust and they’re forwarding Frizzell these comments. These are people who are hopeful there is a Trust out there. Frizz asked him—is this some of the Al Hodges stuff. SK said he would deal with it…Frizz is completely out of the loop—he doesn’t deal with shareholders any more—he can’t afford it.
SK called Global Intelligence and explained who he was and explained all about Peter Maheu and all this crazy talk about a Trust. He called the shareholder back—but he’s not calling Acca—although SK says Acca can call him. Apparently Acca is the one saying all this stuff about a Trust. There is no big payment coming.
The only thing left that SK says that offers help in recovering some money from is this company NHHI. Now that we have the collections company working for us—as long as we can get them some money back to them—they’ll continue working for us. Six lawyers working for us on a daily basis and a collection agency.
It’s a very tedious process dealing with all these attorneys. But as NHE produces some income and NHHI gets invested in the oil wells it should start to grow. At some time the judgments will run out and the company will have to make money on its own. We’ll get there, God willing, if we live long enough.
Goal is to grow income stream from the oil well. Hopes to have a strong enough financial basis to take the company back to trading at some point in the future.
He would like to find a better way to inform shareholders but “at this time it really doesn’t matter if you’re informed or not.” “Whether you know what’s going on doesn’t change what the company is doing based on its limited capital.”
Q&A
Is the DOJ working in concert with the SEC on this case or is that something completely different? Does the DOJ consider our case small—compared to others?
It’s a big case and a complex case and its going to cost a lot to try it. Our case is sold old there’s not much the SEC can do about it. What they should have done is closed the company down during the height of the shares selling. There was plenty of smoke for a number of years and they let the company free-trade. They should have de-listed the company after the first couple of quarters went by with no reports filed from the company.
He thinks the SEC is more interested in not seeing the stock market implode than they arte about individual investors and he doesn’t think they will do anything with this company again.
Are you aware of the ban lifted from domestic US oil exports?
Yes, he’s aware. At this moment its not beneficial to any significance to the pricing or US producers—of which we are a very small part of—if there wasn’t such a glut our ability to export has made much of a difference. The world-wide oil glut is subject to overnight ‘turns’…where we could suddenly find ourselves in a position to export a lot of oil. Its great they did, but its not making a big difference for US producers.
Is CMKX still in business or does NHHI own CMKX?
NHHI, Inc. is the same company as the formerly named CMKM Diamonds, Inc. Same TX C-corp. Same shareholders. It is the same company with a NEW name. He did it to get away from the Casavant name. He wanted to start planting the seeds for the future with a new identity. Anyone who googled CMKM Diamonds would find all the corruption from the past—so he changed the name. The stock certificates are fine—we can’t afford to change the name on all the certs.
Could you give a recap on our oil wells?
NHE owns the wells. SK is an investor in NHE and the managing investor. NHE agreed to give NHHI a free equity stake in NHE.
We have leases in Eastland County TX, not producing, but now being sold back to the people who we bought them from. They got sidetracked on a deal with a hedge fund and we’re going to sell our 37.5% ownership back to SK’s friend in Fort Worth and get out of the deal. They’re ready to drill and we can’t come up with the capital to participate at the level we would be required. We will make a profit on this deal. These wells are not producing.
We have 2 wells in OK, Harrison Townsend leases, we own 1/3 and they’re producing 2.5 barrels a day and we’re going to sell those. Get our money back out of there ($15K).
We have OK leases south of Tulsa, 7 of the wells are powered back up with only 6 producing at this point. (11 Total, 10 oil producing and 1 salt water). Will have the balance up and running soon—hopefully within 30 days. Have to make repairs to the wells to get them working.
Do we have a ballpark date for a return to trading and the possibility of a short squeeze?
SK thinks it has probably worked out better that its taken longer since we didn’t get a big WF settlement. (which took 3.5 in court over that) We didn’t have a direction for the company. Right now, based on the current lay of the land and have finally developed a real recovery effort on these judgments—we have really good people on the recovery team—including one of the very smartest lawyers SK has ever met. He doesn’t represent us directly but he does represent the judgment team.
Right now…SK says we need to give ourselves some time for NHHI to buy some of its own wells and he thinks there will be a good enough track record to go back to trading in 24 months. The financials will need to be good and it will take a couple hundred grand to actually go back to trading. He doesn’t want to go out with nothing and try to raise money…he wants a profitable track record to show the market that we’re for real. His goal, not too optimistic goal would be 24 months but it is a moving target based on recovery efforts and the price of oil.
Short squeeze is detested by the SEC in terms of discussing it. There is no intention of a reverse split…same share structure as we had…and we just see what happens. He will go talk with the SEC at the time and utilize the State Gov representatives to try and get an audience with the SEC…as high up the ladder as possible.
[now he’s talking about politics…again]
IF there is a naked short and the SEC does its job, then some good things could happen. He doesn’t know if there is a naked short, or how much there is…but its worth a try. Maybe the price will be higher than you paid.
Is there any chance the 1010 agreement with Koch will ever be activated?
SK says no…he tried but even after he went to meet with him the communication went down the tubes. He tried to revive the deal and nothing every happened. At this point in time trying to get back into mining…CMKM was never in mining it was all smoke and mirrors. Trying to revive that deal would be suicide and we would end up over our head at best.
To this day SK doesn’t know anyone in Saskatchewan making money mining diamonds. We have a good plan, with limited capital, it won’t grow fast because we don’t have the capital but we can make money in the oil business.
He lives in Houston now and has met more people in oil and there are lots of stories of people starting small and build their companies up over time to become big companies.
What happened to CMKX patents they had?
SK has never heard of any patents that CMKM has. He’s never had the attorneys mention such, or any documents of such. In the last 5 years he’s never seen/heard anything like that.
[Same guy asks…maybe he used the wrong word, patents, he was speaking about his dividend shares. Then he asked if this company is only about oil now and no longer in diamonds, gold, silver or anything like that.]
SK is now explaining that everything UC said they had was all smoke and mirrors and the company didn’t have any value and there was never anything else—it was an empty shell. That was one of the biggest problems with WF, we had a value-less company trying to sue a big bank for $60million and our company during that time was being run by crooks. You can’t recover anything against the big bank when your company was just an empty shell. You were sold a bill of goods.
The company has survived from delisting to this day on litigation settlements and judgments and that’s it. The pump and dump guys, Edwards, Urban and others, were involved in other companies that they did stock fraud through and were indicted for deals beyond CMKM but CMKM didn’t have any ownership in any of those.
[The questioner follows up with some question as it relates to the Trust]
SK is saying there isn’t anything from an alleged Trust—it just isn’t there. The only hope you have of getting anything out of this stock is if this company can build up enough value to go back to trading again.
No other questions.
[Now he's back talking about politics again...and trying to get people to vote. Going on about Obama and Clinton...I'm done. I've voted, don't need to listen to this.]
End of webinar. 10:35 PM CST