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Translation, "when we're finished reverse splitting this, you'll own about 2 shares."
Enjoy.
Not exactly what I wanted to hear on that question but his response...
"Don't worry everything is lined up, but it will take 2-3 mths."
Sometimes not answering the question is an answer all to itself
That's pretty vague. Doesn't really answer the question.
His response...
"You're ahead of the curve. We need 1-3 mths to (a) Close w/ESKO and (b) do new acquisition. "
I have asked about SS waiting for a reply.
They will have to wait for relisting before a RS can be approved by FINRA, but this could be a condition of the LOI. I don't contact Blocker, as there are enough already in communications with him.
I think Esko was a CYSG customer.
Esko wants the assets. They are owned by a billion dollar company.
Does anyone know anything about ESKO-Graphics They look like a well established company why would they want CYSG? Are they trying to go public?
Something tells me the SS will change after the Esko transaction is closed. I imagine Corey's shares will be wiped out. I guess we'll have to wait and see.
If anybody has contact with Blocker, since he doesn't answer my emails anymore, ask him if the OS will change after the Esko transaction? Will there be a R/S?
The less shares there are, the more attactive the shell company is.
Let's face it, in pennyland 99% of companies increase the OS to billions for one reason... dilution.
IMO, a 4-5 billion OS in a land made up of billions really ain't that much. But, yes, I do see a RS coming. Big question is, if the acquired company is worth the post split value.
My biggest problem is the OS. If it's 4 or 5.5 Billion then they will have to do a reverse split before they merge. That's just too many shares for a shell company. Even if it's just 1/10 that would get them to 400 - 550 million. Nic and the boys would still have a nice pile of shares.
Nope, just sit back and wait. More time to wait but, it should pay off in the end, imo.
I would hold, if I were you but, it's your choice. Good things are coming. Imagine the traders that will flock here after it's relisted. Never happened before, folks will be using CYSG as an example that it can be done. Not to mention the company going into the shell, we all know, it will be a legitimate company.
Good i will probably stay.
If we choose to stay, do we need to do any paperwork?
I'm still not sure. A lot of good info here yesterday. My wife work's at a large law firm here in Jersey so she can get some free advice.
I guess that would be one way around it.
Not a problem, one account is mine the other is my wife's.
Thank you so much for this useful information and your time Renee.
One of my biggest questions was since they said specifically the resulting sale of assets would be used to pay off existing debt, would that positively effect the number of outstanding shares. Meaning, a buyback and retirement of certain outstanding shares. Any thoughts?
Not sure yet. I have to accounts and may dissent on one of them.
Derma: There is an I-Hub board titled SEC Suspensions and Revocations that may help clarify some of your questions.
If I recall your question(s) from yesterday a revoked stock can never trade again. Those shares that are owned by shareholders are essentially worthless because no-one can trade a revoked stock. The loss of value can only be used for personal income taxes to offset any other stock market or capital gains.
Here is the link for the SEC Suspensions and Revocations board:
http://investorshub.advfn.com/SEC-Suspensions-&-Revocations-25334/
Here is a list of Suspended and Revoked stocks:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=90888818
NOTE: If you have difficulty scrolling through posts to SEARCH for any info just wait until every friday between 4 P.M. to 5 P.M. E.S.T. where all free members are granted all the benefits that paid subscribers have...it is called Happy Hour and members can see the red notation at the top of every page during that hour.
Dear Renee,
Where can I find some general information on delisted stocks? Thank you.
Since it was debt for equity financing, I would say the equivilent amount of shares for $350,000 would be turned back to Cape. It actually could be more if the $ amount owed was negotiated due to the damage NIR did to Cape Systems. So the shares that NIR had could have been 1.2-2 billion shares depending on the shares Cory demanded for payment based on the PPS. AIMO
I know it is a personal thing, but in a nose count, who is dissenting, unsure, and staying put?
I am leaning toward staying.
Those involved aligned their interests with ours. If they did not intend for there to be success, then why bother?
Is the debt with NIR going to be paid off with the sale and will that reduce the share structure from what I'm guessing to be around 5b +?
What was the question? He won't get any shares?
From Phil..
"Correct NIR will get $350K at closing in full settlement."
They maybe settled with the indebtiness that will be paid off, or already has.
Now one thing I do think they will do now to accomplish the RM, is a RS. No co will want a shell with 5.5 bil shares.
I'm also wondering what's happened to Ripoffsky's shares.
Good luck? None needed. Relisting is coming. First time for everything. Eh?
It will be a RM. Cape is still a public shell now with a revoked stock. So instead of a private co having to go through all the IPO barriers, the private co. will RM into CAPE and the stock will attempt to be reinstated. IMO
Its not like I can put a by order based off of what he said, but its not like that right now. I can't buy or sell it. You aren't bringing anything to the table that really is refutable evidence.
By the time you figured out he was lying, the statute of limitations will have certainly run out. The date a shareholder realizes they've been misled by a company, they have one year from that date to file a lawsuit for fraud.
I once thought that date started when CYSG was revoked, or later when they sold off assets. Please consult an attorney.
-----------------------------------------
You do know that Blocker can be held liable for making statements like that if they weren't true, right?
a lot of back and forth ... but no real answers till, what Sep. 30 or later.
You do know that Blocker can be held liable for making statements like that if they weren't true, right?
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The future home off CSG Inc.
www.csginc.net
Cape Systems Group is in the process of an Asset Sale. Cape Systems Group Inc. intends to sell it's two subsidiaries, 'Cape Systems and Consulting Services Limited' and 'Cape Systems Limited,' to ESKO. The estimated closing date is September 30th, 2013.
After the Asset Sale, the shell company intends to change it's name to CSG Inc., use proceeds to purchase an operating company, and to relist the common stock.
A detailed proxy statement has been sent to Shareholders.
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