cant stay away, page-6

Reasons the case is a dud have been discussed ad nauseum. But it boils down to the following:

- if CHM had a decent case it would have been launched years ago. Its opportunistic timing for them at an important stage of MMX's development (during a scrip takeover).

- MMX have stated unequivocally that CHM have no case. The words MMX have used are very clear, and would not be used lightly.

- On the other hand, CHM announcements are generally vague, sensationalist and lack details. They are simply trying to generate publicity.

- I have spoken to people involved in CHM's relisting. I have been told CHM was only ever hoping for a settlement.

- CHM went into liquidation years ago. If they really had a legal case, the current shareholders of CHM have no claim to it...its the creditors of CHM who own that "asset". They never did anything with the so called "asset" because its worthless.

- Ben Elias is on the board of CHM. I mean come on...if that doesn't tell you that they are simply looking for publicity what does? If they had a strong case they would not need Ben Elias to help them get publicity or raise capital.

- CHM are out of money. Unless they raise capital soon they will fold.

- CHM is 3 days away from the first payment of $550,000. They are 1 month away from the next payment of $730,000. And then there are more costs to be determined when the trial date is set. If I was a CHM shareholder I would want to know how the company is going to pay for this case? The silence from CHM is deafening.


- reputation of those involved in CHM seems to be shoddy. MMX management seem to have a good reputation and have delivered.

- we have heard of absolutely no evidence for CHM's case. All we have seen is a statement of claim. MMX has made specific reference to accounting records that cover all the alleged ammounts in the CHM claim, apart from a paltry amount of $5000 which is completely insignificant. CHM have not connected the dots in terms of evidence supporting why their claim is valid.

- award of costs is significant, and could get much higher. I am no legal expert, but from what I have read, security for costs are only awarded when the case is weak and/or ability to pay is unlikely.

There are dozens more reasons...that is just the stuff off the top of my head. I can't be bothered thinking about CHM any more its pointless.