July 9, 2008
Dear Sir or Madam:
I have been investing in small Pink Sheet Companies for over 10 years. When I look at my portfolio of stocks I see that ALMOST every one of these stocks are now near worthless based on their current PPS.
In the case of one of my largest investments, CMKM Diamonds, Inc., the stock has been revoked at the companies" own request. It has been indicated by the CEO that there are more than 2 Trillion "Counterfiet" Shares of this stock in Investor Accounts.
I currently hold ALL of my 200+ Million Shares in Certificate Form. I don't understand HOW, WHY the SEC could allow the number of Fails to Deliver on ANY Publically traded stock, much less "2 Trillion Shares".
The abuses in the market "IN MY OPINION" must be corrected. The "abusers" MUST be punished PERIOD. They have stolen my money and I don't like it. The Senators and US Congressmen are beholden to the large contributors to their political campaigns. I ask you what chance does a small investor have in the market today?
The stock market is a sewer and I will never invest one more penny in it UNTIL the market is cleaned up...AND that is your job, NOT MINE.
There are so many abuses in stocks that I own, I know what is going on AND you (the SEC) does too. Lets FIX this thing RIGHT NOW before it is too late.
Lets face it, Regulation SHO is a complete and total failure. Time is Running out