It has now been 6 YEARS since CyberMark(CMKI) became Casavant Mining Kimberlite International Inc. (OTCBB:CMKI)
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SCHEDULE 14C
Information Statement Pursuant to Section 14(c) of the
Securities Exchange Act of 1934
November 25, 2002 (which is the effective merger date with the Casavant Mineral Claims (as defined) in Saskatchewan, Canada), the Company reported on its most recent Form 10-QSB (which was dated September 30, 2002) total assets of $344 in cash; total liabilities of ($1,672) for accounts payable; total stockholders' equity ($1,338); and total liabilities and stockholders' equity of $344.
This was based on the Company's then current share capitalization which consisted of 500,000,000 shares of common voting stock at $.0001 par value with 352,223,510 shares issued and outstanding.
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Outstanding Voting Stock of the Company
In order to effectuate the merger with the Casavant Mineral Claims, the majority shareholders' holding more than 51% of the voting shares approved an increase in the authorized capital of the Company from 500,000,000 to 10,000,000,000 with the cancellation of all Preferred shares.
As of the Record Date, there were 7,241,653,404 shares of Common Stock issued and outstanding. The Common Stock constitutes the outstanding class of voting securities of the Company. Each share of Common Stock entitles the holder to one (1) vote on all matters submitted to the shareholders.
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First PR - 11/26/2002
Casavant Mining Kimberlite International Inc. Announces
Election of Wesley Casavant as Secretary-Treasurer with Field
Responsibilities
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Showing posts with label CMKX CMKM CMKI GOLDMAN ACCA CITIGROUP CITI SEC FED BUSH PAULSON BERNANKE COX BAILOUT. Show all posts
Showing posts with label CMKX CMKM CMKI GOLDMAN ACCA CITIGROUP CITI SEC FED BUSH PAULSON BERNANKE COX BAILOUT. Show all posts
Wednesday, November 26, 2008
Saturday, November 22, 2008
CMKX --- CMKM Diamonds Inc --- ***Citigroup Demise Part II***
Bloomberg.com
Citigroup May End Up With Government Rescue After Stock Skids
TIME.com
Will Citigroup Survive? Four Possible Scenarios...
CNBC.com
Citigroup Talks, But Nothing 'Walks' To Stabilize...
Citigroup Update: Reports Emerge Of Possible Plan
Topics:Earnings | Nasdaq | NYSE | Stock Picks | Stock Market
Companies:Goldman Sachs Group Inc | Morgan Stanley | Citigroup IncBy Charlie Gasparino, On-Air Editor | 23 Nov 2008 | 01:03 PM ET
Citi officials are reportedly working on a plan that could include a capital injection from the Federal government—among other possible ideas. The details have yet to be hammered out and it's not clear when such a plan would be announced.
Officials from Citigroup [C 3.77 -0.94 (-19.96%) ] and the government had been discussing ways to stabilize the company's stock price over the weekend.
As of Saturday afternoon, the general consensus between officials from Citi and government officials from the US Treasury department and US Federal Reserve is that the government will not takeover Citigroup in the way it took control of AIG—by lending the firm massive amounts of money and in return assuming a huge equity position.
Government officials fear taking over Citigroup would create a precedent: Unlike AIG, Citigroup's balance sheet is relatively healthy, with relatively strong levels of capital particularly compared to most of its competitors.
Still, officials from the Treasury and Citigroup are unsure what it would take to restore confidence in the company, including a possible smaller capital injection or some sort of statement that Citigroup is financially sound.
For that reason, Citigroup officials are continuing to explore possible merger possibilities and a spin off of some of Citigroup's businesses, even as CEP Vikram Pandit publicly stated the sale of the firm's massive and coveted broker business, Smith Barney is off the table, these people say.
Both officials at Citigroup and in the government concede the situation facing Citigoup is daunting. Because of Citigroup's size and scope—it operates in just about every country and competes in just about every financial business, the company's survival is a national concern.
Citigroup has spent the past week telling investors that its capital position is strong, but investors have lost confidence in the current management led by CEO Vikram Pandit who has been in the job less than a year, and the firm's board, which appeared to ignore widespread calls by analysts to integrate the firms operations and slash its massive workforce until recently.
Meanwhile, various merger possibilities seem slim. A deal with investment banks Morgan Stanley [MS 10.05 0.85 (+9.24%) ] or Goldman Sachs [GS 53.31 1.31 (+2.52%) ] would create massive overlap and would lead to huge layoffs. There aren't many banks with a strong deposit base that Citigroup can buy with its depressed stock price.
Pandit, for his part, has cut the workforce to 350,000 from 375,000 and just announced another 50,000-job cut by early 2009. But for investors, those moves were too little too late. Nearly a year ago, Citigroup's share traded at around $50. On Friday they traded at $3.77 and failed to rebound even as the Dow Jones Industrial Average of large company stocks spiked nearly 500 points on the news that President-elect Barack Obama will name NY Fed President Tim Geithner as his new Treasury Secretary.
Citigroup's Ills May Signal Market Isn't Near Bottom
Because Citigroup is a bank it has access the the Federal Reserves discount window, and because of its size, there is virtually no possibility of the bank failing and filing for bankruptcy as investment bank Lehman Brothers did. "Citigroup is too big to fail; the government wont allow that because the firm is involves in so many business both institutional and consumer around the world," said one bond trader with detailed knowledge of Citigroup's operations.
Investor fear remains deep despite one-day rally
But the lack of confidence coupled by the falling stock price could pose other problems, such as a run on bank deposits, where worried depositors yank their money from their Citigroup accounts, or investors pulling their funds from their Smith Barney brokerage accounts. A Citigroup spokesman declined to say if the company is experiencing either of those scenarios.
For that reason, Citigroup officials continued to work over the weekend to possibly unveil some sort of plan of action by Monday morning. "Everyone knows saving Citigroup is important to saving the economy, but no one knows what to do," said one person close to the firm.
Copyright 2008 Reuters.
Citigroup May End Up With Government Rescue After Stock Skids
TIME.com
Will Citigroup Survive? Four Possible Scenarios...
CNBC.com
Citigroup Talks, But Nothing 'Walks' To Stabilize...
Citigroup Update: Reports Emerge Of Possible Plan
Topics:Earnings | Nasdaq | NYSE | Stock Picks | Stock Market
Companies:Goldman Sachs Group Inc | Morgan Stanley | Citigroup IncBy Charlie Gasparino, On-Air Editor | 23 Nov 2008 | 01:03 PM ET
Citi officials are reportedly working on a plan that could include a capital injection from the Federal government—among other possible ideas. The details have yet to be hammered out and it's not clear when such a plan would be announced.
Officials from Citigroup [C 3.77 -0.94 (-19.96%) ] and the government had been discussing ways to stabilize the company's stock price over the weekend.
As of Saturday afternoon, the general consensus between officials from Citi and government officials from the US Treasury department and US Federal Reserve is that the government will not takeover Citigroup in the way it took control of AIG—by lending the firm massive amounts of money and in return assuming a huge equity position.
Government officials fear taking over Citigroup would create a precedent: Unlike AIG, Citigroup's balance sheet is relatively healthy, with relatively strong levels of capital particularly compared to most of its competitors.
Still, officials from the Treasury and Citigroup are unsure what it would take to restore confidence in the company, including a possible smaller capital injection or some sort of statement that Citigroup is financially sound.
For that reason, Citigroup officials are continuing to explore possible merger possibilities and a spin off of some of Citigroup's businesses, even as CEP Vikram Pandit publicly stated the sale of the firm's massive and coveted broker business, Smith Barney is off the table, these people say.
Both officials at Citigroup and in the government concede the situation facing Citigoup is daunting. Because of Citigroup's size and scope—it operates in just about every country and competes in just about every financial business, the company's survival is a national concern.
Citigroup has spent the past week telling investors that its capital position is strong, but investors have lost confidence in the current management led by CEO Vikram Pandit who has been in the job less than a year, and the firm's board, which appeared to ignore widespread calls by analysts to integrate the firms operations and slash its massive workforce until recently.
Meanwhile, various merger possibilities seem slim. A deal with investment banks Morgan Stanley [MS 10.05 0.85 (+9.24%) ] or Goldman Sachs [GS 53.31 1.31 (+2.52%) ] would create massive overlap and would lead to huge layoffs. There aren't many banks with a strong deposit base that Citigroup can buy with its depressed stock price.
Pandit, for his part, has cut the workforce to 350,000 from 375,000 and just announced another 50,000-job cut by early 2009. But for investors, those moves were too little too late. Nearly a year ago, Citigroup's share traded at around $50. On Friday they traded at $3.77 and failed to rebound even as the Dow Jones Industrial Average of large company stocks spiked nearly 500 points on the news that President-elect Barack Obama will name NY Fed President Tim Geithner as his new Treasury Secretary.
Citigroup's Ills May Signal Market Isn't Near Bottom
Because Citigroup is a bank it has access the the Federal Reserves discount window, and because of its size, there is virtually no possibility of the bank failing and filing for bankruptcy as investment bank Lehman Brothers did. "Citigroup is too big to fail; the government wont allow that because the firm is involves in so many business both institutional and consumer around the world," said one bond trader with detailed knowledge of Citigroup's operations.
Investor fear remains deep despite one-day rally
But the lack of confidence coupled by the falling stock price could pose other problems, such as a run on bank deposits, where worried depositors yank their money from their Citigroup accounts, or investors pulling their funds from their Smith Barney brokerage accounts. A Citigroup spokesman declined to say if the company is experiencing either of those scenarios.
For that reason, Citigroup officials continued to work over the weekend to possibly unveil some sort of plan of action by Monday morning. "Everyone knows saving Citigroup is important to saving the economy, but no one knows what to do," said one person close to the firm.
Copyright 2008 Reuters.
Thursday, November 20, 2008
CMKX --- CMKM Diamonds Inc --- ***Citigroup Demise...??***
Citigroup Executives Weigh Selling Off All or Part of Company, WSJ Reports
Citigroup Considers Sale of Company, Wall Street Journal Says
By Jesse Westbrook
Nov. 20 (Bloomberg) -- Citigroup Inc., which fell 26 percent in New York trading today, is considering selling off pieces of the bank or the whole company, the Wall Street Journal reported online, citing people familiar with the matter.
Talks are preliminary and don’t suggest that New York-based Citigroup is backing away from its insistence that it has sufficient capital and funding, the Journal said.
Buffeted by four straight quarterly losses, Citigroup has raised about $75 billion since December by selling assets and equity stakes, including a $25 billion injection from the U.S. Treasury. The government will do whatever it takes to stabilize Citigroup, including pouring more money into the company, because of the threat its failure would pose to the global economy, said Peter Wallison, a fellow at the Washington-based American Enterprise Institute.
“There is no question that Citigroup will not be allowed to fail,” said Wallison, who was Treasury Department general counsel under former President Ronald Reagan. “I would not think it is a good idea to restore the ban on short selling,” he said.
Citigroup declined $1.69 to a 15-year low of $4.71 on the New York Stock Exchange at 4:15 p.m. It has fallen 84 percent this year.
Citigroup has lost about $20 billion in the past four quarters as bad loans increased and demand for banking services declined. Chief Executive Officer Vikram Pandit said this week the company will cut 52,000 jobs in the next year to lower costs.
Citigroup is seeking to revive a prohibition on short- selling financial stocks, according to a person familiar with the matter. The bank has discussed with the Securities and Exchange Commission and lawmakers its proposal to reinstitute the ban on bets that stock prices will fall, said the person, who declined to be identified because the discussions weren’t public.
To contact the reporter on this story: Jesse Westbrook in Washington at jwestbrook1@bloomberg.net.
Last Updated: November 20, 2008 20:46 EST
Citigroup Considers Sale of Company, Wall Street Journal Says
By Jesse Westbrook
Nov. 20 (Bloomberg) -- Citigroup Inc., which fell 26 percent in New York trading today, is considering selling off pieces of the bank or the whole company, the Wall Street Journal reported online, citing people familiar with the matter.
Talks are preliminary and don’t suggest that New York-based Citigroup is backing away from its insistence that it has sufficient capital and funding, the Journal said.
Buffeted by four straight quarterly losses, Citigroup has raised about $75 billion since December by selling assets and equity stakes, including a $25 billion injection from the U.S. Treasury. The government will do whatever it takes to stabilize Citigroup, including pouring more money into the company, because of the threat its failure would pose to the global economy, said Peter Wallison, a fellow at the Washington-based American Enterprise Institute.
“There is no question that Citigroup will not be allowed to fail,” said Wallison, who was Treasury Department general counsel under former President Ronald Reagan. “I would not think it is a good idea to restore the ban on short selling,” he said.
Citigroup declined $1.69 to a 15-year low of $4.71 on the New York Stock Exchange at 4:15 p.m. It has fallen 84 percent this year.
Citigroup has lost about $20 billion in the past four quarters as bad loans increased and demand for banking services declined. Chief Executive Officer Vikram Pandit said this week the company will cut 52,000 jobs in the next year to lower costs.
Citigroup is seeking to revive a prohibition on short- selling financial stocks, according to a person familiar with the matter. The bank has discussed with the Securities and Exchange Commission and lawmakers its proposal to reinstitute the ban on bets that stock prices will fall, said the person, who declined to be identified because the discussions weren’t public.
To contact the reporter on this story: Jesse Westbrook in Washington at jwestbrook1@bloomberg.net.
Last Updated: November 20, 2008 20:46 EST
Monday, November 17, 2008
CMKX - Ends With CITI...??
Citigroup's Pandit Will Reduce Headcount by 50,000, Lower Expenses by 20%
Citigroup Cutting 53,000 More Jobs
Citi to Cut 53,000 Jobs, Boosting Total to 20%
Citigroup to shed another 53,000 jobs
Citigroup's Stock Plunges Despite Major Job Cuts
Will Citigroup (C) Be Sold To JP Morgan (JPM) Or Taken Over Like AIG (AIG)?
If the press is right, Citigroup (C) is about to hold a big pep rally with its CEO Vikram Pandit raising the cheer followed by an announcement that it will fire another 35,000 people. Morale will never be better.
But, the markets are wise, and they are saying that there is a very reasonable chance Citi may not survive as an independent entity. It is no secret that the bank's shares, which are trading below $10, are off much more over the last year than those of the other large US money center banks
Citi is at a tipping point like a cow in a field at midnight. If its stock continues to drop sharply, the market and the bank's customers may begin to lose faith and withdraw assets or cease doing business with the firm. If Citi announces that its financial fortunes will get worse between now and its next earnings report, it may say that the damage within some of its division cannot be contained.
That leaves the question of whether Citi becomes the next Wachovia or the next AIG (AIG). If the Fed and Treasury become concerned enough about the bank and have to intercede with more capital, the government may pressure Citi's board to sell the company to the highest bidder within its own industry. That may be the well-run JP Morgan (JPM) The FDIC might have to guarantee some of Citi's assets to accommodate a transaction, but there is recent precedent for the government to bend in that direction.
If the problems at Citi deteriorate quickly and its falls, as it certainly does, into the "too big to fail" bucket, the government may simply have to pour cash into the bank in exchange for a majority ownership position. That would involve bringing in new management to sell of enough assets to get the bank stable. The government would hope against hope that those sales would bring in enough money for the taxpayer to get some return.
Citi's share price is a signal and it may become brighter and more troubling as the year moves toward a close.
Douglas A. McIntyre
Citigroup Cutting 53,000 More Jobs
Citi to Cut 53,000 Jobs, Boosting Total to 20%
Citigroup to shed another 53,000 jobs
Citigroup's Stock Plunges Despite Major Job Cuts
Will Citigroup (C) Be Sold To JP Morgan (JPM) Or Taken Over Like AIG (AIG)?
If the press is right, Citigroup (C) is about to hold a big pep rally with its CEO Vikram Pandit raising the cheer followed by an announcement that it will fire another 35,000 people. Morale will never be better.
But, the markets are wise, and they are saying that there is a very reasonable chance Citi may not survive as an independent entity. It is no secret that the bank's shares, which are trading below $10, are off much more over the last year than those of the other large US money center banks
Citi is at a tipping point like a cow in a field at midnight. If its stock continues to drop sharply, the market and the bank's customers may begin to lose faith and withdraw assets or cease doing business with the firm. If Citi announces that its financial fortunes will get worse between now and its next earnings report, it may say that the damage within some of its division cannot be contained.
That leaves the question of whether Citi becomes the next Wachovia or the next AIG (AIG). If the Fed and Treasury become concerned enough about the bank and have to intercede with more capital, the government may pressure Citi's board to sell the company to the highest bidder within its own industry. That may be the well-run JP Morgan (JPM) The FDIC might have to guarantee some of Citi's assets to accommodate a transaction, but there is recent precedent for the government to bend in that direction.
If the problems at Citi deteriorate quickly and its falls, as it certainly does, into the "too big to fail" bucket, the government may simply have to pour cash into the bank in exchange for a majority ownership position. That would involve bringing in new management to sell of enough assets to get the bank stable. The government would hope against hope that those sales would bring in enough money for the taxpayer to get some return.
Citi's share price is a signal and it may become brighter and more troubling as the year moves toward a close.
Douglas A. McIntyre
Monday, October 27, 2008
CMKX - "Ends With CITI...??"
Citigroup (C) is not going to make it, at least not as an independent company. The FT has reported that the head of Goldman Sachs (GS) called Citigroup CEO Vikram Pandit to discuss a merger. Goldman had converted itself into a commercial bank. Maybe it was worried it would go the way of Morgan Stanley (MS). But, the Treasury has come up with capital for all the big financial firms, so the urge to do something has probably passed for the world's premier investment bank.It is different for Citigroup. There things have gone from bad to worse.
Citigroup is not likely to make it as an independent company. It will not be a buyer. It will be sold.
If the bank's stock price and analysts covering the company are right, Citi's fate could be determined by the end of the year. Over the last month, shares in the bank are down by 40%. Rival JPMorgan (JPM) is off 2%. Wells Fargo (WFC) is up 10%. Citi's market cap is down to $66 billion. Bank of America's is nearly $100 billion.
In the last quarter Citi lost $2.8 billion, or $.60 per share, compared with a profit of $2.2 billion, or $.44, in the period a year ago. Revenue fell 23% to $16.7 billion
Bank analyst Meredith Whitney, who has been right more often than not on bank stocks, says that troubles in Citi's consumer group will drive up its losses more than expected. She cut her earnings estimates on the bank to a 2008 loss of $2.87 per share and a loss of $2.65 in 2009. Citi may not have the capital to cover those losses even with the government's cash injection.
What Whitney did not factor in just a week ago is that the credit crisis and signals of a recession have become much worse in a matter of days. Mortgage defaults are likely to rise more sharply then they have been as people lose jobs. The consumer's ability to pay his credit cards debt will deteriorate sharply. Citi's investment banking business is dead as a doornail. Most LBO loans are dropping in value as each week passes.
Citi will not report Q4 earnings for almost three months. It may run into awful trouble before that. The Fed and Treasury are going to have to find a merger candidate. Most likely that will be JP Morgan (JPM) because Bank of America (BAC) and Wells Fargo (WFC) are already digesting big acquisitions. Or, the government may turn around and take a majority stake in the money center bank the way it did with AIG (AIG) where it has already provided $90 billion in loans.
Vikram Pandit will have failed. It may take a little while for that to become absolutely clear, but Wall St. can take it to the bank. Or, maybe not.
Douglas A. McIntyre
Friday, October 24, 2008
CMKX --- CMKM Diamonds Inc. Recap.... Starts With CITI...??
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Q: hey acca you always said .. starts with citi and ends with citi.
Are we waiting on the citi?
A: Now does everybody understand what does citi group mean, citigroup financial?
lets get something straight here.
that, they are the reason why you are going to be paid the amount you are going to get paid. that’s it. all i have to say.
the demise of citi group. once that happens .. the gates will open for cmkx.
Q: is the demise of citi group the event that we have been talking about for years?
you always said its event driven.. is that the event?
A: i have to answer yes.
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Bloomberg.com - Citigroup Quote
Citigroup... Today $12.14 Down .97 - 7.399 %
Citigroup Down 72 % from 52 week high...!! $12.14 / $43.11
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ISN'T 72% DOWN A 'DEMISE'...?? HOW MUCH LONGER...??
Q: hey acca you always said .. starts with citi and ends with citi.
Are we waiting on the citi?
A: Now does everybody understand what does citi group mean, citigroup financial?
lets get something straight here.
that, they are the reason why you are going to be paid the amount you are going to get paid. that’s it. all i have to say.
the demise of citi group. once that happens .. the gates will open for cmkx.
Q: is the demise of citi group the event that we have been talking about for years?
you always said its event driven.. is that the event?
A: i have to answer yes.
---------------------------------------------------------------------------
Bloomberg.com - Citigroup Quote
Citigroup... Today $12.14 Down .97 - 7.399 %
Citigroup Down 72 % from 52 week high...!! $12.14 / $43.11
---------------------------------------------------------------------------
ISN'T 72% DOWN A 'DEMISE'...?? HOW MUCH LONGER...??
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