CMKM Diamonds, Inc. Announces the Cancellation of the MRDR Transaction, Internal Audit and Move to New Transfer Agent.Business Editors LAS VEGAS--(BUSINESS WIRE)--June 3, 2004 CMKM Diamonds, Inc. (Pink Sheets:CMKX), The Board of Directors announces that due to the encouraging results in Saskatchewan, the Company has decided to concentrate all its resources on diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral at this time, and therefore has aborted the pending Mirador (MRDR) previously proposed project. Further the Board has notified the present Transfer Agent, 1st Global Stock Transfer to do a full and complete audit of the company and/or will have an independent auditor Independent Auditor An external auditor with a certified public accounting designation that qualifies him or her to provide an auditor's report. Notes: These auditors aren't affiliated with the company being audited. audit the company and as soon as that audit is complete the Company has retained Pacific Stock Transfer, Inc., to become the new Transfer Agent for CMKM Diamonds, Inc. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements, other than the statements of historical facts, may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risks and uncertainties, including, without limitation, demand and competition for the Company's products and services, the availability to the Company of adequate financing to support its anticipated activities, the ability of the Company to generate cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses and the ability of the Company to manage its operations. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion