CMKM Diamonds, Inc. Awarded a $33,675,365 Judgment; Begins Search for a New Chairman
July 8, 2008
Tyler, TX. On July 1, 2008 CMKM Diamonds, Inc. was awarded a $33,675,365 judgment in a Nevada District Court against one of the former insiders of the Company, John Edwards. Mr. Edwards was labeled as one of the two “masterminds” of the scheme to defraud investors of over $64 million in a lawsuit filed on April 7, 2008 by the Securities and Exchange Commission.
The Company also announced today that it has begun the process of searching for a new Chairman. Current CEO and Chairman, Kevin West, stated “I am very pleased with the progress being made through the Company’s litigation. It is time to begin the search for someone with the business experience that is needed to move the Company forward.”
Mr. West is currently appointing a seven member, shareholder based, “Advisory Committee” to help with this process. “Among many other qualities, the person we are looking for will be someone who can see the value of having a shareholder base of over 40,000 people from all over the world”, stated Mr. West. A new link has been added to the Company’s website at www.cmkmdiamondsinc.com for the submission of resumes to be considered for this position. Shareholders are encouraged to direct qualified prospects to this link.
Contact:
CMKM Diamonds Inc., Tyler
Kevin West 903-262-8397
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CMKM Diamonds, Inc. Continues to Try and Identify Shareholders
June 9, 2008
Tyler, TX. In our efforts to continue to try to identify all of the shareholders of CMKM Diamonds, Inc. stock, current management of the Company would like to point investors that have been unable to procure physical stock certificates from their brokers to the UnShareholder.com website.
www.UnShareholder.com is launching today to help identify the magnitude of individual investors unable to obtain stock ownership certificates and who perhaps inadvertently purchased illegal “naked short” or “phantom” electronic “entitlements” instead of actual shares. The scope of settlement failures in general has become a hot debate.
Commonly referred to as the “naked short selling” problem, the real damage is caused by stock lending and settlement failures.* Of course, the end result is the same: an investor makes a payment but has no actual investment. That investor is not a “shareholder” because they don’t own shares. Instead, they are an UnShareholder.
According to the website: If you requested a stock certificate from your broker and have not received it, you are an UnShareholder. If your brokerage account was changed to delete the shares of a company that you didn’t agree is “worthless”, you are an UnShareholder. If you received a 1099 with “non-qualifying dividends” when you believed you owned regular shares, you are probably an UnShareholder too.
Attorney Al Hodges states, “The UnShareholder site has been developed and established by the Pasadena, California law firm of Hodges and Associates in an attempt to document the nature and depth of the UnShareholder problem as well as to identify individual investors whom have in good faith purchased publicly traded shares of stock but, for all the wrong and illegal reasons, are not entitled to receive them nor to enjoy all the indicia of ownership”.
*Stock lending is closely associated with short selling and settlement failure refers to the problem of sellers not delivering shares on the settlement date. Naked short selling is when stock is sold short and not borrowed for delivery on the settlement date.
Contact:
CMKM Diamonds Inc., Tyler
Kevin West 903-262-8397
Hodges and Associates
Al Hodges
