Post by raidermike99 on Apr 20, 2007 20:32:58 GMT -5
CMKM Diamonds CEO Addresses All Shareholders of Current Status
LAS VEGAS--(BUSINESS WIRE)--“Dear fellow shareholders, I have information to share with you today that came to my attention just days ago. I received a delivery of several boxes of corporate records in the last couple weeks that have confirmed my very worst fears. In response to this new information, various legal actions will be a priority as we move to protect the best interests of shareholders. We were not able to finalize these necessary actions today as we had expected. We will put out another press release by mid next week to update you on this progress.
"When I first accepted the position of Interim CEO, I made a promise to myself and my family and friends that if I found there was not a real plan in place for the benefit of all shareholders, then I would come forward with the information I found. Not only am I going to share this information with you, the shareholders, but will do everything in my power to make sure that these individuals and entities will never be able to harm others in this same way again."
The CEO continues, “When I started to work for CMKM in September of last year, I had high hopes and aspirations of making positive changes and forward progress in the evolution of this Company. Like so many of you, I believed that there was a plan in place that could not be revealed for one reason or another. However, after many months of failed promises, it was clear there was not a plan and no forward progress for our Company would ever happen until massive changes were implemented.
“In early January of this year, I contacted Bill Frizzell for his help. Within less than a week, Bill flew out to Las Vegas on his own time and expense with one goal in mind, to help me help the shareholders. Since that time, many changes have taken place up to and including the resignation of the former Chairman. Several days ago, the Company requested and has received several boxes of Company documents from an attorney that has held said records in safekeeping. These documents are very revealing and tell the story of what has taken place over the last several years. Had Bill Frizzell not acted quickly in response to my call, Our Company would have been forced into bankruptcy, essentially burying the evidence forever. As legal action proceeds, many of these documents will be made available for everyone to see on our Company website at http://www.CMKMdiamondsinc.com.”
Current Status of Company
As of March 29th 2007, the Company had 3 pending lawsuits, a Wells Notice from the SEC that was supposed to have been answered by March 9, 2007 (of which current management was totally unaware, until an official at the SEC contacted them on 4-10-07), and ongoing investigations by at least four government agencies. In addition there is documentation showing the forfeiture of all claims and mineral rights, no corporate records for the past 4 ½ years of business and taxes that have never been filed. The only tangible asset is a 45 million share certificate of Entourage Mining stock.
Current Actions
Since the Company has no available operating capital, Bill Frizzell has agreed to shoulder the current legal expenses. In order to handle the monstrous legal task at hand, Bill Frizzell has also agreed to interview, hire and direct a legal team that is now made up of several law firms from across the country. Because of the possibility of recoverable assets being brought back into the company, Bill is also hiring forensic specialists and professionals to file back tax returns, investigate past trading discrepancies, move the domicile of the company out of Nevada and audit the books, for the purpose of building a strong foundation to finally move our Company forward.
As mentioned previously, the Company is in receipt of a Wells Notice from the Security and Exchange Commission. The Company is currently in direct communication with the SEC and is cooperating fully with their investigation. Copies of documents recently provided to the Company as well as confidentiality waivers of former Company attorneys that are waiting to talk to the SEC are being provided as requested.
The Company has recently halted the transfer of a large bulk certificate to a major brokerage firm from a third party. A specialist will be hired to completely research and investigate both sides of this transaction along with the many recent transactions of possible insider sales of large bulk certificates.
Rumors
Rumors of trust accounts with money and other assets that have been established for the benefit of shareholders or rumors of dividends to be paid to shareholders are absolutely not true. Those that are demanding the Company to pay out monies held for shareholders are feeding off of this false information. Rumors that our Company was set up as a sting on the markets are false. Any rumor that has not been identified by this press release should be considered to be untrue. The Company will only provide information to shareholders through an official press release on Business Wire or on the Company website at www.CMKMdiamondsinc.com.
Outlook for the Future
West continues, “I am 100% confident that no matter how things may look today, as a united front, we can rebuild this Company. We have to once again unite as shareholders to begin to make positive strides forward. As you can well imagine, there will be an even greater influence to try and divide us at this time, we have to become so united that nothing can stop us.
“Once we have cleaned up our current legal matters, add value back into the Company and have prepared financials to be audited, it will be my intent to assemble a Corporate Governance and Nominating Committee made up of shareholders to locate, interview and recommend the most highly qualified Board of Directors to lead this Company back to trading and into the future.
“I want to remind everyone that there are two ways to look at the above information. We can look at everything in despair and believe that there is no hope for the future of our Company, or we can quickly put the past behind us and know that we can now move forward and build a brand new Company, one that already has 40,000 - 60,000 shareholders, into something wonderful. This shareholder base is, and has always been, our strongest and most valuable asset. That said, I suggest that WE, as shareholders, choose to look forward with hope, strength and determination to build this shareholder base into a solid company."
Safe Harbor Statement:
This news release contains certain "forward-looking statements" within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934. Although the Company believes the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that actual results will meet or exceed such expectations.
LAS VEGAS--(BUSINESS WIRE)--“Dear fellow shareholders, I have information to share with you today that came to my attention just days ago. I received a delivery of several boxes of corporate records in the last couple weeks that have confirmed my very worst fears. In response to this new information, various legal actions will be a priority as we move to protect the best interests of shareholders. We were not able to finalize these necessary actions today as we had expected. We will put out another press release by mid next week to update you on this progress.
"When I first accepted the position of Interim CEO, I made a promise to myself and my family and friends that if I found there was not a real plan in place for the benefit of all shareholders, then I would come forward with the information I found. Not only am I going to share this information with you, the shareholders, but will do everything in my power to make sure that these individuals and entities will never be able to harm others in this same way again."
The CEO continues, “When I started to work for CMKM in September of last year, I had high hopes and aspirations of making positive changes and forward progress in the evolution of this Company. Like so many of you, I believed that there was a plan in place that could not be revealed for one reason or another. However, after many months of failed promises, it was clear there was not a plan and no forward progress for our Company would ever happen until massive changes were implemented.
“In early January of this year, I contacted Bill Frizzell for his help. Within less than a week, Bill flew out to Las Vegas on his own time and expense with one goal in mind, to help me help the shareholders. Since that time, many changes have taken place up to and including the resignation of the former Chairman. Several days ago, the Company requested and has received several boxes of Company documents from an attorney that has held said records in safekeeping. These documents are very revealing and tell the story of what has taken place over the last several years. Had Bill Frizzell not acted quickly in response to my call, Our Company would have been forced into bankruptcy, essentially burying the evidence forever. As legal action proceeds, many of these documents will be made available for everyone to see on our Company website at http://www.CMKMdiamondsinc.com.”
Current Status of Company
As of March 29th 2007, the Company had 3 pending lawsuits, a Wells Notice from the SEC that was supposed to have been answered by March 9, 2007 (of which current management was totally unaware, until an official at the SEC contacted them on 4-10-07), and ongoing investigations by at least four government agencies. In addition there is documentation showing the forfeiture of all claims and mineral rights, no corporate records for the past 4 ½ years of business and taxes that have never been filed. The only tangible asset is a 45 million share certificate of Entourage Mining stock.
Current Actions
Since the Company has no available operating capital, Bill Frizzell has agreed to shoulder the current legal expenses. In order to handle the monstrous legal task at hand, Bill Frizzell has also agreed to interview, hire and direct a legal team that is now made up of several law firms from across the country. Because of the possibility of recoverable assets being brought back into the company, Bill is also hiring forensic specialists and professionals to file back tax returns, investigate past trading discrepancies, move the domicile of the company out of Nevada and audit the books, for the purpose of building a strong foundation to finally move our Company forward.
As mentioned previously, the Company is in receipt of a Wells Notice from the Security and Exchange Commission. The Company is currently in direct communication with the SEC and is cooperating fully with their investigation. Copies of documents recently provided to the Company as well as confidentiality waivers of former Company attorneys that are waiting to talk to the SEC are being provided as requested.
The Company has recently halted the transfer of a large bulk certificate to a major brokerage firm from a third party. A specialist will be hired to completely research and investigate both sides of this transaction along with the many recent transactions of possible insider sales of large bulk certificates.
Rumors
Rumors of trust accounts with money and other assets that have been established for the benefit of shareholders or rumors of dividends to be paid to shareholders are absolutely not true. Those that are demanding the Company to pay out monies held for shareholders are feeding off of this false information. Rumors that our Company was set up as a sting on the markets are false. Any rumor that has not been identified by this press release should be considered to be untrue. The Company will only provide information to shareholders through an official press release on Business Wire or on the Company website at www.CMKMdiamondsinc.com.
Outlook for the Future
West continues, “I am 100% confident that no matter how things may look today, as a united front, we can rebuild this Company. We have to once again unite as shareholders to begin to make positive strides forward. As you can well imagine, there will be an even greater influence to try and divide us at this time, we have to become so united that nothing can stop us.
“Once we have cleaned up our current legal matters, add value back into the Company and have prepared financials to be audited, it will be my intent to assemble a Corporate Governance and Nominating Committee made up of shareholders to locate, interview and recommend the most highly qualified Board of Directors to lead this Company back to trading and into the future.
“I want to remind everyone that there are two ways to look at the above information. We can look at everything in despair and believe that there is no hope for the future of our Company, or we can quickly put the past behind us and know that we can now move forward and build a brand new Company, one that already has 40,000 - 60,000 shareholders, into something wonderful. This shareholder base is, and has always been, our strongest and most valuable asset. That said, I suggest that WE, as shareholders, choose to look forward with hope, strength and determination to build this shareholder base into a solid company."
Safe Harbor Statement:
This news release contains certain "forward-looking statements" within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934. Although the Company believes the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that actual results will meet or exceed such expectations.
