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Meaney is gone, but his son-in-law, Mark Malone had stayed on as part of the sale contract. Not sure what happened with this new sale.
FWIW, I am heavily invested in PLUG and FCEL. Hydrogen Fuel Cells are the future, so holding long.
Is Meany still in charge..?
BobChar, what happened to MKRS or rathered happened to us stockholders was Meaney's myopia, thinking bigger than IBM, hiring his son-in-law, and then finding little interest in his pea-size MKRS.
It reminds me of an electric utility that I once worked for. They got a guy posing as a farmer to buy some farmland along a major road who in turn sold it to the electric company in return for a Manager's position. The local farmer knew he had been lied to and cheated.
Meaney and Malone made out very well on our backs.
hey velcro it me bobchar just looked at the old mikros website and low and behold IT LOOKS LIKE ANOTHER MIKROS SCREWIING THE SHAREHOLDER TACTIC. Hope all is well with you. boy this company wads a lesson learned the hard way.
good luck will check this site every now and then
bobchar
The MKRS Board lied to stockholders. They did not research for the best offer.
Dated May 3, 2021 https://noblis.org/noblis-acquires-mckean/
Noblis bought McKean Defense (and MKRS) for an undisclosed amount.
Is Meany still alive.. and in control? have lost track of this one for a while now.
As usual you are the "most" helpful with these kinds of details others assume never inflict them!
Please keep me posted. My hunch is cash dividends need to be cleared for release by any number of people which could include the Courts, any levels of Gov't that want their tax entitlements, corporate management, lawyers, perhaps others. It may take longer than you want but the company clearly stipulated that cash dividends will be paid.
Hopefully your phone call to Australia will give you a clear timeline for when and how your cash dividend will be paid.
Can't call till evening as 12+ hours difference, will do, just asking as thought regulators have a better provision for this event.
....and you have made contact with the contact info in your linked news release?
All I can do is hope for the best outcome for you,
Tried to think about your question, and painfully expressed the gist here:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161309389&txt2find=etrade
Brokers must receive any dividends first, before they can dispense same dividends. Have you asked eTrade if they are in receipt of the dividends?
RE: IFGNF. Yes saw that, but am I wrong to infer that Etrade is the custodian of those funds and they should be more aggressive in at least allowing me peace of mind that my investment is not totally lost?
re IFGNF: from your link you could follow the directions to see if you can get answers.
Best o' luck.
Excerpt: Enquiries by former security holders regarding making a claim should be directed to Infigen’s security registry, Link Market Services Limited, on the Link Investor Information Line on 1800 703 344 (toll free within Australia), or +61 1800 703 344 (from outside Australia) between 8.30am and 5.30pm (Sydney time), Monday to Friday.
Renee:
Got my MRKS today from TD Ameritrade.
RE: IFGNF: Help! Etrade will not get me my merger settlement from Australia, what is the process?
https://www.iberdrola.com/press-room/news/detail/iberdrola-launched-friendly-takeover-australian-renewables-company-infigen-energy-worth-510-million-which-means-another-determined-step-forward-into-this-priority-market
22 December 2020 Iberdrola completes compulsory acquisition and now holds 100% of Infigen The off-market takeover bid by Iberdrola Renewables Australia Pty Limited (Iberdrola Australia) for all stapled securities of Infigen Energy Limited (ABN 39 105 051 616) and Infigen Energy Trust (ARSN 116 244 118) (Infigen) closed on 21 October 2020, with Iberdrola Australia holding approximately 98.25% of stapled securities at that time. On 26 October 2020, Iberdrola Australia commenced the compulsory acquisition process under Part 6A.1 of the Corporations Act 2001 (Cth) for the remaining Infigen stapled securities it did not hold at that time. Following completion of the relevant requirements of the compulsory acquisition process, Iberdrola Australia completed acquisition of the remaining Infigen stapled securities, effective 21 December 2020. The Iberdrola group now holds 100% of Infigen stapled securities. In accordance with the statutory procedure, a claim form will be dispatched as soon as practicable to relevant former security holders in relation to the transfer of consideration for their Infigen stapled securities. It is expected that such claim form will be dispatched by 2 January 2021. Enquiries by former security holders regarding making a claim should be directed to Infigen’s security registry, Link Market Services Limited, on the Link Investor Information Line on 1800 703 344 (toll free within Australia), or +61 1800 703 344 (from outside Australia) between 8.30am and 5.30pm (Sydney time), Monday to Friday. Ends About Infigen Infigen is leading Australia to a clean future, today. Our strategy is to provide Australian b
.82AUX
MKRS: Shareholders of Mikros Systems Corp. (MKRS) will receive $0.13 per share according to the terms and conditions of the merger with McKean Defense Group.
FINRA deleted symbol:
https://otce.finra.org/otce/dailyList?viewType=Deletions
As I recall from 1 or 2 other buyouts, the money to us will come via the stock broker, credited to our stock account. Less expensive, no mail or check cutting.
Timing is the only factor.
Good question.
It's still trading today. Oddly, it printed .138 at one point this morning. What's that all about? I thought it odd when someone was buying at .13 within the past couple of weeks! Must have been someone making a "fat finger" error.
Pat
Is the check in the mail?
Or will there be a cash credit to our stock account?
"Free at last, Free at last, Thank God almighty we are free at last." <G>
Good luck to all.
Pat
well i guess in hind sight meany would have liked to unload his shares when the stock reached 1 dollar on 2 occasions and .60 cents when zeff got in.
Bet he's thinking about that now. I made a little money on the stock over the years. But i am ticked off that stupid management let this company run just like them DUMB.
GOOD LUCK TO ALL IN FUTURE ENDEVORS BOBCHAR
PS THAT'S CALLED TO MUCH BRAINS AND NO SAVVY
Meaney gets no more than 13 cents/share.
Son-in-law, Mark Malone, gets $225,000 due to Board Chairman Paul Casner being a weak negotiator.
I think Malone gets paid 13 cents/sh for the 60,000 option shares that he was given by Board Chairman Paul Casner.
Malone never bought one share with his own money.
McKean Defense should pay the 13 cents/sh immediately, but what's the rush when dealing with the MKRS management buffoons.
so much for shareholder value i wonder if meaney's 6 million shares where more than .13 cents average.
Paul Casner declared the Merger is now completed at 10:06 AM.
Evidently, MKRS has retained cash of $1.5 million to make it a near steal for McKean Defense.
Sale price 4.6 million minus 1.5 million retained cash = $3.1 million for the company ruined by the M+M Boys.
Business prospects in 2021 were not good. Many thanks to the M+M Boys for their insufficient efforts.
We should know tomorrow afternoon, after the 10 AM meeting.
I'm guessing that MKRS might be seeing what we can't yet see. Their "sugar daddy" might not be a part of their life for much longer. They're probably looking to get out while they can salvage something. My concern is that if this deal tanks, the next offer, if any, would be paid from someone's petty cash account. "A bird in the hand ....."
We'll see soon enough.
Good luck.
Pat
From the SEC filing, "The parties currently expect to complete the merger in the first quarter of 2021."
BUT, there are about 10 conditions and caveats that could make it much longer than the end of March.
It would have been nice to add another condition that if McKean Defense does not have immediate cash and all the other conditions are met then the Settlement Price increases $50,000 per day.
Then again, if the conditions are not met, the deal is terminated.
MAJOR CONDITION is that MKRS must have $1.5 million cash on hand.
What a freaking deal by our ace capital marketing specialist Mark Malone.
Assuming this merger/sale ultimately gets the green light, has anyone heard an approximate timetable for the effective date of the share payout?
TIA
Pat
There are plenty of investors willing to sell for a fraction less, so maybe the 13 cent buys are shorting for peanuts?
Then again maybe they have no clue about McKean Defense.
MKRS .13 buys , is it just the chance in hell crowd who buy at that price, or does it reflect a long shot the 13 cent price will be upped?
The CEO Thomas J. Meaney hired his son-in-law, Mark Malone, and quickly promoted him to President with the rubber stamp Board's blessing.
Repeating myself, but if the "NO" votes win, then the Board should terminate the M+M Boys and hire 2 executives from IBM (just to stick it in Meaney's face for mocking IBM's engineering turn-around time).
FWIW, I'm heavily invested in PLUG + FCEL, hydrogen fuel cell power which will far overshadow wind and solar. The economics keep improving and a real space saver.
Thanks! It sucks that this is overall a good company with solid properties but just poorly run.
Regardless of voting Yes or No. if it's approved then everyone gets the 13 cents per share.
McKean Defense is totally private, no public stock --we are the losers getting only 13 cents per share.
It could have been negotiated that McKean Defense would go public, but we have consistent losers in the M+M Boys and the Board.
Beginner Investment question for you all...if we vote no, and the merger is approved that vote doesn't harm your ability to receive any payment for the merger correct?
Also, does this merger only result in cash payment for our shares or does it result in receiving shares of the other company (maybe even the option to choose shares in the other company)?
Reading through it McKean gets everything including patents
my wondering is " McClean getting the patents along with the deal and the pending patent that we have been watching for some time now. Also there is 2 sub companys that Mikros had some time ago are they being given up also.
For us very old timers there was
DATA DESIGN AND DEVELOPMENT
MOBILE BROADCASTING COMPANY
In 1996, Safeguard Scientifics (Delaware), Inc., invested $1 million in Mikros
in exchange for 10% ownership in the Company. At the same time, Mobile
Broadcasting Corporation (MBC) was created to exploit the AM radio technology,
particularly in mobile or portable platforms such as automobiles. Initially,
Safeguard invested $1 million in MBC for 75% ownership whereas Mikros owned
the remaining 25%. Mikros share in MBC was subsequently diluted to 18%, as a
result of an additional capital investment of $1,200,000 by Safeguard. (see
Note B of Notes to Financial Statements).
Data Design and Development Corporation (3D) was also founded in 1996 as part
of the Safeguard Scientific agreement and retains ownership of the AM and FM
technology. 3D has licensed the FM technology rights in North America to
Mikros and the AM technology rights in North America to MBC. Mikros owns 1/3
of 3D, certain Mikros shareholders own another 1/3, and Safeguard owns the
remaining 1/3.
Paraphrasing from the SEC filing, the MKRS Board says they have difficulty finding qualified executives (translation: if they fire the inept M+M Boys no one to replace them).
The Board did little or no work and rubber stamped the M+M Boys.
Bobchar, I agree, McKean Defense is getting a steal at $4 million.
Pat is basically tired of waiting for MKRS to yield fruit and will take the 13 cents.
My break even point is 25 cents. I don't need the 13 cents and would rather see the Board forced to terminate the M+M Boys because they're useless tools.
But, MKRS likely has the votes to "merge" with McKean Defense, so that's my 10 cents (or is it 13 cents).
with contracts in tact they are selling for 4 M are they nuts or do they have a side deal with this company
PORT HUENEME DIVISION NAVAL SURFACE WARFARE CENTER
LONG RANGE ACQUISITION FORECAST
QUARTER 4 FISCAL YEAR 2020
L-Dept ADSSS New Delivery Order R425 541330 $25M - $50M Small Business Set- Aside 2021 Q1 2021 Q2 Contractor Facility Adaptive Diagnostic Electronic Portable Test (ADEPT) Distance Support Sensor Suite; Now AN/SYM-3(V) approved system of record Mikros N63394-16-D-0018 N6339419F0079 9/18/2021
L-Dept SIBR Phase III Engineering Services and Procurement of AN/SYM-3V Equipment R425 541330 $25M - $50M Small Business Set- Aside 2022 QTR 3 2023 QTR 2 Contractor Facility Adaptive Diagnostic Electronic Portable Test (ADEPT) Distance Support Sensor Suite; Now AN/SYM-3(V) approved system of record Mikros N63394-16-D-0018 (DO) N6339419F0079 9/18/2021
Corporate
I got the phone calls last night! F them!
MKRS hired an agency to make telephone calls reminding stockholders to vote on the merger.
MKRS had previously hired Meaney's son-in-law because he allegedly knew something about capital markets. Mark Malone may know the capitals of a few states and each one does have some grocery markets.
I figured something like that !
M+M Boys are cashing out with the rubber stamp Board.
Good grief... been away for a while (not in jail) and this thing still trading at these levels...?
Speaking of crap, someone bought 3K shares at 13 cents.
I suppose hoping to sell short?
oh no that sounds like a crappy job. No wonder his daddy in law got him out, before he really started to stink.
Yep, he's had his hand in more pilots than an Air Force proctologist.
Pat
Maybe Mark Malone can get a job with an airline.
He has experience in pilot projects.
Don't give up yet. In regards to the Mikros Mindr,
Post# 3475 on August 31, 2017, Topdog2 wrote, "Actually, Elliot-Lewis will bring in large amounts of revenue. Think of a monitoring device placed in the ductware of a large building --in multiple locations. Early warning of abnormally increased temperature, impending equipment failure, etc. Think of how many large buildings w. extensive HVAC systems there are. This can produce really big bucks once implemented."
SO, WE GOT THAT GOING FOR US.
Of course, at that time, son-in-law Mark Malone was not yet promoted to PRESIDENT (which occurred on Nov. 6, 2017).
Nov. 19, 2017 MKRS announced multiple promotions and new hires. Then Mark Malone proceeded to institute his exemplary capital market experience to get MKRS where it is today.
I had my eyes wide open since I knew it was a one-trick pony. They had a great niche account and it was no great secret that one false move could eliminate their only customer. It appears that has happened. For all of his faults, Meaney was likely singularly responsible for keeping the Navy account open for this long. There are enough stories circulating in the news that teach us that Defense contracts last until a younger or more attractive person walks into the room! I had hoped another source of revenue for MKRS would move the stock higher. It didn't happen so it's time to move on.
I'll vote "yes" only because in the unlikely event the vote would fail, we'd get a lot less than 13 cents since their negotiating position with other buyers is diminished since the company no longer has a "sugar daddy" to pay their rent. I don't have any interest in reducing what value I'll get out of them for the satisfaction of expressing my displeasure for people I've never met and will never again think of once their check clears.
I was aware of the gambling risk and it turns out I didn't have good enough cards with this hand. Am I happy about it? Nope, but it's time to find a different casino, ante up, and deal the cards.
Good luck with the next hand!
Pat
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Mikros Systems Corporation was incorporated in the State of Delaware in June 1978. We are an advanced technology company specializing in the research and development of electronic systems technology primarily for military applications. Classified by the U.S. Department of Defense (DoD) as a small business, our capabilities include technology management, electronic systems engineering and integration, radar systems engineering, combat/command, control, communications, computers and intelligence (C4I) systems engineering, and communications engineering.
Founded in Albany, New York, Mikros was formed to leverage the microprocessor advancements coming out of the nearby General Electric Research and Development Center into state-of-the-art digital signal processing applications for the defense industry. We specialized in developing technology and products advancing the state of military RF (radio frequency or wireless) and underwater data communications. Through several U.S. Small Business Innovation Research (SBIR) awards in the early 1990s, we developed and fielded the AN/USQ-120 Multi-Frequency Link-11 Data Terminal Set still in use today by the U.S. Navy.
In the mid 1990s, we began shifting our core business area away from military communication applications to the rapidly expanding commercial wireless communications arena. Our advanced Digital Signal Processing (DSP) technology base and core competencies enabled us to develop unique, proprietary technology, high-speed data broadcasting techniques utilizing the commercial AM and FM radio spectrum. In 1998, we sold our military communications business to an unrelated third party.
Due to expanding cellular and satellite communications technologies, market demand for commercial wireless data broadcasting (one-way communication) applications never fully materialized. Upon expiration of our non-compete restrictions imposed by the 1998 sale of our military communications business, we shifted our focus back to research and development for military electronic systems. In 2002, we began developing SBIR initiated technology products within our areas of expertise, and remain committed to this strategic approach today.
Washington, DC - Washington Operations
80 M Street SE
Washington, DC 20003
Phone: (202) 609-6908
Norfolk, VA
2929 Wilsonia Way, Virginia Beach, VA 23453
Phone: (757) 619-4898
Largo, FL - Production, Logistics, and Support
8076 114th Ave N, Suite 500
Largo, FL - Production, Logistics, and Support
Largo, FL 33777
Phone: (727) 498-8963
Fax: (727) 498-8964
http://www.defense.gov/Contracts/default.aspx
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