Canadian Imperial Venture V.CQV.H

Rock bottom?

[myamigo]

OK so I bailed out of CIVC some time ago but I have been wondering what mgmt has been up to since. You never know... there may still be an opportunity here.

CIVC used Dr. Ulrich Kretschmar as the geologist for the initial assessment but he's the same guy that had his mitts involved with the Odd Twins delay of game BS. When I realized that we had been duped on the oil and Odd Twins that I got out as quick as I could... a good move considering the rollback, given that Edwards had cashed out 10M shares of SHP for peanuts and given the questionable move of selling his shares in advance of the rollback. How can that be legal by the way?

Now they've hired this Susan Scott geologist person to prepare the NI43-101 technical report dated 08-31-201. She claims to be independant from CIVC and Carina with one exception; CIVC hired her when they were working on the Shoal Point Oil project before they sold the farm. That of course means she is NOT an independant person. She contradicts herself right on the signature page. If they wanted a truly independant person they could have hired one locally. Sniff... Sniff... fishy smell!

All that aside, the real problem I have is with the selling of 10M SHP shares without announcing this as a material change. They sold off the shares throughout the year to fund "operations" i.e. their salaries, and it wasn't until the annual financials were released that the disposition was revealed. They should have completed the rollback earlier and did everything possible to avoid disposing of SHP shares, like maybe put some of their own new money into the company.

I also noticed that they fired their accountants back in Oct, 2012... big red flag there.

Anyway... It's not like that matters since these guys operate with impunity but if there's a buck to be made I might be interested. It's clear why the share price has dropped where it is now but the question is: "What is holding the SP up right now?"