hohes volumen. heute wieder mal die 0,0007 gesehn. glaubt ihr, dass es sich lohnt, jetzt nochmals reinzugehen, was kann man von den ergebnissen erwarten ?
wann kommt die neue hp ?
hier noch ein kleiner bericht über das volumen und so ...:
A Billion Shares Traded. Not For the NYSE. Stock Patrol Means for CMKM Alone
Jun 24, 2004 (financialwire.net via COMTEX) -- (FinancialWire) A billion share
day would be good day for many stock exchanges, but it is almost routine for one
company on the pink sheets, CMKM Diamonds, Inc. (OTC: CMKX), says Stock Patrol,
an Investor Resource partner at Investrend Information
(www.investrendinformation.com)
Full reporting on this company and numerous others of dubious investment grade
may be found at www.stockpatrol.com.
Activity in the company's stock, which included trading of 3.2 billion shares
traded on Tuesday and 2,147,483,600 shares traded Monday, has been so great that
the company appears to have had its own message board, at
www.casavantmining.com, until it was temporarily shut down last Friday
Urban Casavant is president of CMKM Diamonds. He explained the shutdown: "I
would like to thank Melvin O'Neil for taking the necessary steps in shutting
down our Message Board. It had come to his attention that the Message Board,
which we provided as a service to our investors, was being used by unsavory
persons to sling racial slurs. Melvin knew that this would not be tolerated by
the company and so took the steps to shut down the Board until strict procedures
can be implemented to ensure the proper use of the Board. An investigation into
the improper use of the Message Board is expected to be launched by the Company
shortly."
Stock Patrol said the company's volume has been "a bit odd," inasmuch as
"the historical trading records available on the Investors Hub website
indicate that CMKM also traded 2,147,483,600 shares on each of the following
dates within the last month: May 25th, June 1st, June 4th, June 7th, June 9th,
June 16th and June 17th. What are the chances of that happening? David Duval was
a better bet to win the US Open."
Said Stock Patrol:
As we discovered, that recurring number is more likely the product of technical
limitations than coincidence. Trading volume of 2,147,483,600 shares a day is
the optimum number that reporting systems can post in the historical records
available online. But while that may explain the odd repetition, it also opens
the possibility that daily trading was well in excess of 2,147,483,600 on those
days.
The overwhelming interest in CMKM stock is even more remarkable since it does
not appear that any single brokerage firm has been driving the process. No firm
has filed a Form 15c-211 to be listed as a market maker for that stock on the
Pink Sheets.
While the share price for CMKM, .0006, remains microscopic, the trading volume
is nonetheless noteworthy. Investors - albeit collectively - have been willing
to spend almost $1.3 million a day to buy shares of CMKM, and on June 22nd they
upped the ante to almost $2 million.
And billion share volume is hardly an aberration for CMKM. In recent weeks,
daily trading volume for CMKM stock has repeatedly exceeded 1 billion shares. It
signifies heady enthusiasm for a Company that does not file regular reports with
the Securities and Exchange Commission, and whose financial condition remains a
mystery.
So why are investors flocking to buy - and sell - billions of CMKM shares? They
may just be searching for diamonds in the dark.
For over a year, investors have not been privy to verifiable information
concerning CMKM, its existing business, its financial status, its corporate
structure, its management team, or its immediate and long-term prospects. In the
absence of public filings, those details are largely unavailable. Indeed, the
minimal information available about CMKM has come principally from press
releases and the corporate website.
What can investors learn about CMKM's business? Far too little. CMKM's website
describes it as a "new company involved in the exploration for diamonds in the
Canadian province of Saskatchewan." How new? The Company, which used to be
called Casavant Mining Kimberlite International, Inc. was incorporated in Nevada
on April 18, 2002.
CMKM says that it holds mineral claims to more than 1.4 million acres in the
Fort a la Corne area of Saskatchewan. While the Company suggests that diamonds
have been discovered in Saskatchewan in general, and Fort a la Corne in
particular, there is nothing to indicate that CMKM has uncovered a source of
diamonds that justifies the current level of interest in its common stock.
Indeed, while CMKM recently announced the discovery of minerals that were
"positive" for "diamond content," the Company has not offered any expert
analysis that would indicate that there is any likelihood this will lead to the
discovery of marketable diamonds.
In other words, there is no sign that this Company is, or will soon become, a
revenue producing business.
The mystery surrounding CMKM emanates largely from its decision to cease
providing audited financial information to shareholders and potential investors.
The Company stopped filing public reports in July 2003, shortly after it failed
to file its Form 10-Q report for the quarter ended March 31, 2003. On May 16,
2003, CMKM advised the SEC that the March 31st report would be filed late (but
no more than five days late) because it needed "further time" to prepare
financial statements. Late turned out to be never.
In the absence of current financial statements, there is no simple way for
investors to determine the assets, liabilities, revenues or expenses of CMKM -
or even the number of outstanding shares. Some details about CMKM, at least
circa early 2003, can be culled from an "Information Statement" filed by the
Company with the SEC on February 3, 2003. That Information Statement offers
modest insight into CMKM's very brief history as a public company engaged in
mineral exploration.
Prior to November 25, 2002, the entity now known as CMKM was involved in a
completely different enterprise. The Company, which was then called Cyber Mark
International, Inc., had been in the electronic game business, although without
appreciable success. According to its Form 10-Q for the quarter ended September
30, 2002, Cyber Mark's assets consisted of $344 in cash. There were no operating
revenues. At the time the Company had approximately 352 million shares
outstanding. The balance sheet was dismal - but at least there was a financial
statement for investors to review.
On the other hand, the value of Casavant at that time (and CMKM at the present)
seems to be a matter of some conjecture. The Company did not file any financial
reports for Casavant, either at the time of the merger or subsequently.
Consequently, investors must rely upon fragmentary information in the
"Information Statement," which asserts that the Casavant mineral claims were
valued at $10 million "in situ" at the time of the merger, not including
pre-merger expenses of $3 million. It did not say how Casavant arrived at that
valuation.
The number of outstanding shares increased exponentially soon after the merger.
As of January 15, 2003, more than 7.2 billion common shares were outstanding. In
order to accommodate the twenty-fold increase in outstanding shares in the
months immediately following the merger, the Company increased its authorized
common stock from 500 million to 10 billion shares.
Most of that stock - almost 7 billion shares or 85.8% of the outstanding stock -
was purportedly held by individuals, corporations and trusts who acquired their
interests "in consideration of $2,000,000 in cash and the forbearance of monies
due them for loans and services rendered in connection with the Casavant Mineral
Claims and their assignment to the Company."
The Information Statement did not provide a specific breakdown between the
amount of cash paid and the value of services rendered in exchange for the
shares. It did state that none of those shareholders controlled more than 4.9%
of the Company's stock - meaning that they fell short of the 5% threshold that
would have required their identities to be disclosed. In this case, however, the
Information Statement suggested that information about those shareholders would
be revealed. It was not.
Another 770 million shares were held by CMKM's President Urban Casavant and
members of his family.
According to the Information Statement, the Casavant family, and the
unidentified shareholders who owned 85.8% of the Company's shares, all voted in
favor of the amendments increasing the authorized shares. But how was that
possible since most of their shares could not have been issued until after the
amendment was approved? After all, only 500 million shares were authorized when
the merger was completed, and 352 million of them had already been issued before
Casavant entered the picture.
Before the Company dropped the curtain on its public filings, it revealed one
other stock issuance. On May 2, 2003, the Company filed a Form S-8 Registration
Statement covering more than 1 billion shares that had been issued to two
consultants.
It also filed a Form 8-K on April 25, 2003, indicating that the Company's
President, Urban Casavant, had agreed not to sell, pledge or otherwise dispose
of his 600 million shares of CMKM stock for three years. Presumably, that
eliminates Mr. Casavant as one of the parties contributing to the recent sale
volume for CMKM - unless, of course, that agreement was subsequently amended or
revoked.
Unfortunately, these dated details do not reveal how many shares of CMKM are
outstanding today, or even how many shares are presently authorized. Has the
Company increased its authorized capital beyond 10 billion shares? It would seem
likely that the answer to that question is yes.
According to information available from the Pink Sheets, CMKM split its common
shares 2 for 1 on September 12, 2003. Based upon the most recent figures cited
by CMKM in a public filing (7.2 billion shares issued as of January 15, 2003)
there would have been at least 14.4 billion shares outstanding after the stock
split.
And, again according to the Pink Sheets, there was more. On September 19, 2003,
one week after the stock split, the Company issued a dividend of one additional
share for each share held as of that date. In other words, at least 28.8 billion
shares would have been outstanding - more than double the 10 billion shares
authorized in early 2003.
To make matters even more confusing, on October 10, 2003 the Company issued a
press release announcing the retirement of 9,020,371,427 shares. Then, on
November 6th, the Company declared that it had retired more than 20 billion
shares - more than double the number of shares that had been authorized in
February 2003.
So just how many shares of CMKM are floating around? Without public filings
there is just no way to be certain.
In the absence of public filings, information on CMKM has come via a series of
press releases. Unfortunately, those press releases reveal little information
that would demonstrate the viability of CMKM's business or the value of its
stock.
CMKM has regularly relied upon press releases to spread snippets of news, as it
did when it revealed that billions of shares had been surrendered to the
Company's treasury. Those late 2003 press releases also suggested that drilling
in search of diamonds was imminent, but gave no sign that it actually had
commenced.
In early 2004, the Company began to issue press releases with even greater
regularity - but offered little useful information for investors trying to
assess the value of CMKM. Consider the following:
On February 26, 2004 the Company issued a press release announcing that it would
participate, together with several other U.S. and Canadian public companies, in
an airborne survey of the Fort a la Corne Canadian kimberlite fields.
The survey, according to CMKM's President, Urban Casavant, would "identify known
as well as search for new potential kimberlite pipes within our claims."
What does this mean? Kimberlite occurs in "kimberlite pipes," vertical columns
of rock that rise from below the earth's surface and sometimes contain diamonds.
Sometime, but not always. And while the Company's press release states that
another survey in the Fort a la Corne area produced "outstanding known results,"
it conceded that "[t]here is no guarantee, however, that the survey will
identify any kimberlite or kimberlite pipes." Even if it did, the Company
cautioned "there is no guarantee that any such kimberlite pipes will contain any
diamonds."
And the Company might have gone on to say - but did not - even the presence of
diamond "content" does not guarantee the existence of marketable diamonds.
The next two press releases, on March 2nd and 9th, revealed the Company's plan
to change its trading symbol from CMKM to CMKX - hardly the sort of news that
would create interest among thoughtful investors.
The next press release, issued on March 11th, announced plans to begin drilling
on privately owned land where CMKM owned mineral rights. While the Company
promised to provide a live video stream of the drilling, it acknowledged that
there was no guarantee that the exploration or drilling would result in any
economic benefit.
If the March 11th press release offered little meaningful information, the next
press release, issued on March 13th, provided even less. On March 13th the
Company declared that it had begun its drilling "two days ahead of schedule,"
targeting areas with the "highest probability of a kimberlite find." The Company
did not say how it had identified those target areas. Once again, however, it
reminded the public that there was no guarantee that the project would produce
anything of economic value to the Company.
The March 13th press release also stated that CMKM had secured funding for "an
aggressive six month drill program." It did not reveal the amount of that
funding, how it had been obtained, or its terms. Consequently, shareholders and
investors were once again left without significant details that might indicate
the Company's financial condition.
A press release with the next drilling update appeared on March 18th. The
Company stated that its exploration and drilling program was proceeding as
planned, that drilling on one "target hole" had reached sufficient depth, and
that samples would be analyzed. It also disclosed that CMKM had purchased
certain drilling equipment, although neither the cost of that equipment nor the
source of funds were revealed. The Company promised to drill more holes, but
still, there was no sign that CMKM had discovered any marketable diamonds or
produced any alternative source of revenue.
On March 22nd, the Company issued a press release announcing that it had
acquired a 25% interest in twenty-seven mining claims for consideration of
$50,000. The Company promised that $200,000 (Canadian) would be spent to develop
the property over the next year, but did not specify how those funds would be
raised. Once again, there was no indication that the claims had, or were likely
to, produce any meaningful quantity of marketable diamonds or other valuable
minerals.
The onslaught of minimally informative press releases continued the next day,
March 23rd, with an announcement that video footage of the Company's drilling
was now available on the corporate website.
Shortly after 11:00 am on March 29th, the Company issued a press release
announcing that kimberlite ore had been discovered on property located in
Saskatchewan and jointly owned by CMKM and three other companies. The Company,
which said the discovery would be named "The Carolyn Pipe," after the wife of
CMKM's President Urban Casavant, noted that it was "too early for specifics on
the mineral content and/or the possibility of diamonds," but claimed that the
preliminary test was very encouraging and noted that "the kimberlite pipe is
consistent with other diamondiferous kimberlite bodies located in close
proximity."
Later that day, the Company issued a press release "updating" progress on The
Carolyn Pipe. What merited the intra-day bulletin? The Company said that its
drilling was well past 600 feet, and still in kimberlite ore.
The following day the Company continued what was beginning to seem like its
foot-by-foot progress reports. The March 30th press release declared that
drilling had passed 900 feet and was still in kimberlite ore.
Then there was silence. After the frenzy of press releases issued between
February 26th and March 30th, the Company stopped issuing reports for almost two
months. When it resumed, there was more news on The Carolyn Pipe.
A May 27th press release stated that the Company had completed its first phase
of drilling at The Carolyn Pipe, having drilled five holes, four of which
intersected kimberlite. The Company said that samples from two holes had been
sent to an independent laboratory for analysis.
The press release addressed some of CMKM's other pending plans. The company
revealed that plans to drill on its "Green Lake" claims would be delayed because
of the potential difficulty of drilling through ice. It also said that its
aerial survey of the Fort a la Corne area was continuing.
On June 10th, the Company announced that the independent laboratory, identified
as Saskatchewan Research Council, had reported that samples from The Carolyn
Pipe were "positive" for diamond content. The press release did not elaborate on
those findings or offer any comment on the value or potential marketability of
the diamond content, but again warned that there is no guarantee of an economic
benefit to the Company.
The Company did not say that while the presence of "diamond content" may well be
a promising sign, it does not in itself signify the value of the claim. It did,
however, note - once again - that "[t]here is no guarantee that further
exploration or drilling will produce any economic benefit to the company or the
shareholders of the company."
Between February 26, 2004 and June 11, 2004, CMKM had issued eleven press
releases noting its exploration efforts, but had not revealed facts that would
establish the viability of the Company, its financial condition, or the
potential value of its claims. The Company recently issued another press release
worth noting. On June 3, 2004, the Company addressed an issue that had remained
on the backburner for almost six months.
On December 8, 2003, CMKM had announced its intention to spin-off its
subsidiary, Casavant Mining International (CSI) as a separate public company. At
the time, CSI apparently was involved in mining for zinc deposits. On December
19th, CMKM provided some details of the potential spin-off, saying that it would
involve a share exchange with Mirador Corporation, a company trading on the Pink
Sheets.
We found no further mention of the proposed spin-off until June 3, 2004, when
CMKM issued a press release stating that the Mirador transaction had been
abandoned because the Company wanted to focus on its diamond drilling program.
The press release also indicated that CMKM planned to change its transfer agent,
although it offered no explanation for the switch.
These press releases kept CMKM in the public eye, but provided only a modicum of
information, and no financial details to guide investors or comfort
shareholders. Is that about to change? On June 4, 2004, the Company announced
that it had retained a securities law firm and planned "to begin the process of
bringing the company into full compliance in order to be fully reporting." A
second press release later that day disclosed the name of the law firm, Edwards
& Angell. A third announcement, on June 16th, said that the lawyers had begun to
work on "securities and corporate issues faced by the company."
Exactly what "issues" does the Company face? Like so many details concerning
CMKM, that remains a mystery. The June 16th press release quoted the Company's
new attorney, Roger Glenn of Edwards & Angell, who stated that "[w]e have been
retained by the company to resolve the problems it has been facing, and we
expect to devote significant efforts immediately toward that goal. The company
has advised us that it is dedicated to complying fully with all requirements on
it, and we are pleased to act as counsel to it on that basis."
The press release did not enumerate those "problems."
Public filings, if they do resume, could clarify all of these "issues," and
provide verifiable details of The Carolyn Pipe "diamond content" discovery.
Until that happens, it is difficult to understand why investors would want to
jump aboard the daily billion share volume train, Stock Patrol concluded.
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