CMKM Diamonds Updates Stockholders on the Status of the Upcoming Administrative Hearing.LAS VEGAS Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. -- CMKM Diamonds Inc. (Pink Sheets: CMKX) wishes to update all stockholders on the status of the upcoming administrative hearing administrative hearing n. a hearing before any governmental agency or before an administrative law judge. Such hearings can range from simple arguments to what amounts to a trial. There is no jury, but the agency or the administrative law judge will make a ruling. set for Tuesday, May 10, 2005, as CMKX is preparing to present their case via a public hearing as ordered by the commission. CMKX has been diligently dil·i·gent adj. Marked by persevering, painstaking effort. See Synonyms at busy. [Middle English, from Old French, from Latin d preparing for the administrative hearing by gathering and coordinating the compilation of documentation necessary to provide the administrative law judge administrative law judge n. a professional hearing officer who works for the government to preside over hearings and appeals involving governmental agencies. They are generally experienced in the particular subject matter of the agency involved or of several agencies. with a status report on its accounting and 12g reporting efforts. "We have been working to assimilate as·sim·i·late v. 1. To consume and incorporate nutrients into the body after digestion. 2. To transform food into living tissue by the process of anabolism. a tremendous amount of documentation and gathering the necessary witnesses to prove our case at the public hearing," stated Urban Casavant, president of CMKX. The Division of Enforcement has requested a ruling from Judge Murray in advance of the hearing to prevent CMKX from discussing or providing any evidence of naked shorting Naked Shorting The illegal practice of short selling shares that have not been affirmatively determined to exist. Ordinarily, traders must borrow a stock, or determine that it can be borrowed, before they sell it short. in the common stock of CMKX. The Division of Enforcement contends that evidence of naked shorting is immaterial Not essential or necessary; not important or pertinent; not decisive; of no substantial consequence; without weight; of no material significance. immaterial adj. and irrelevant, but CMKX considers it very relevant. CMKX believes it is in the best interest of its stockholders to be informed about the securities in which its stockholders invest and CMKX acknowledges that all of its stockholders have a right to access public information. CMKX has been working with Bill Frizzell, counsel to the CMKX Owners Group. CMKX and Frizzell have been working diligently together in an attempt to achieve the best possible outcome for CMKX stockholders at the hearing. Frizzell's assistance in this important matter has been instrumental in moving CMKX closer in its goal of investigating and resolving all possible issues relative to the trading in CMKX's stock. Additionally, CMKX management sincerely appreciates and acknowledges the CMKX Owners Group for its efforts in demonstrating loyal stockholder support for CMKX management's ongoing effort to build stockholder value. Information about the owners group and their current numbers can be obtained at their Web site (www.cmkxownersgroup.com). CMKX reminds its stockholders and the investing public that all corporate updates will be made solely through press releases and/or current reports on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. as and when they become available. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This press release may contain statements that constitute "forward-looking statements" as defined under U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "establish," "project" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are based on current expectations and assumptions that are subject to certain risks and uncertainties that could cause actual results to differ materially from CMKX's historical experience and its projections. Such forward-looking statements are inherently uncertain, and actual results may differ from those expressed or implied in the forward-looking statements. Consequently, readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. CMKX's actual results could differ materially from such forward-looking statements because of factors such as: impact of the results of the administrative hearing on CMKX's stock price; impact of the hearing on CMKX's operations; CMKX's ability to continue to trade on any platform; uncertain further regulatory scrutiny; the current state of CMKX's operations; unavailability of documentation and corporate records; the impact of potential naked short selling Naked short selling, or naked shorting refers to the practice of selling a stock short without first borrowing the shares or making an "affirmative determination" that the shares can be borrowed. on CMKX's stock price and its ability to prepare its 12g reports; the impact of failing to meet 12g reporting requirements; the ability to rebuild financial records; any actual or perceived benefits derived from CMKX's cooperation with Frizzell and the CMKX Owners Group; timing necessary to comply with reporting requirements; lack of adequate internal controls; unforeseen capital deficiencies; changes in the mining and metals environment, including actions of competitors; the effectiveness of CMKX's development and drilling programs; regulatory and legal changes; and other risks associated with companies in similar industries. CMKX undertakes no obligation to publicly update or revise any forward-looking statements to reflect current events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or after the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" or to reflect the occurrence of unanticipated events. |
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