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Almost in the top 10!! To bad we weren't trading.. Ha ha
Well I dont understand the benefit for Esko to do that.
Maybe its possible then, I dont know.
I just read the information E-trade sent me by e-mail (at 1:20 am).. I now have a headache!
Here are some of the key things I think I got from it (please correct me if I misunderstood anything!)
The positive:
1. The asset sale is for $3.8M
- $600k of that will be held in an escrow account by ESKO in case of any indemnification claims. If no claims, the money will be paid to the company as followed: $100k in 18 months, 50K in 24 months, the remainder in 30 Months
- The company must maintain a net worth of $1.3M for a period of 39 months (which means they have to have some kind of corporate identity for that period of time).
The negatives:
1. The officers received approx 750M shares as a bonus for the transaction (for a $3.8M transaction..are you kidding me?). Some may look at that as a positive, I look at it as a lot of dilution.
2. It's not going to be easy to exercise dissenter's rights.
On January 12, 2005, we entered into a Consulting Agreement with IMC Development Group (“IMC”), which is owned by Peter and Elizabeth Ayling. Pursuant to the Consulting Agreement, we retained IMC for a period of 18 months, which was then automatically renewable on a month-to-month basis. IMC was paid 7 pounds per month (approximately $14 per month based on current exchange rates), IMC was granted options to purchase 1,800,000 shares of common stock upon execution, of which 300,000 options vest immediately and the balance of 1,500,000 options vest over a period of three years and are exercisable at $0.10 per share. Pursuant to this Consulting Agreement, Mr. Ayling served as our Vice President of Marketing and Head of International Marketing.
http://www.sec.gov/Archives/edgar/data/779681/000114420407008933/v066354_10qsb.htm
It would benefit Victoria, Elizabeth and Peter Ayling. IMO.
The shares i have are on my IRA. Hoping for a 50/50 split that way i will receive a little bit.
How would that benefit them?
From what I remember it signed like no
There is no deal. You let them know you want to dissent, they send you their financials, and then you come to a deal with them. It sounds like they may send an offer with the financials. If you can't agree you try and take them to court so a court can decide "fair value". And this all has to be done within a certain amount of time.
Now if you don't dissent you hope they get something going and get relisted at some point. If that doesn't happen they say they may share what is left (if anything) of the proceeds of the sale with shareholders. But they don't have to, so I would never expect that to happen.
That is my understanding.
It's IMO that Esko will acquire the shell.
I agree. The goal should be to get relisted and start trading again. I don't care at all whether they are in the business of selling packaging and warehouse management software, or are selling widgets. In my opinion we stand a much better chance of breaking even and/or profiting if the company gets relisted, and we see a run based on the acquisition of some existing operating company.
Read my post from earlier this morning.
I wonder if we could do half and half?
Yeah, it came through Schwab.
Dear Renee,
Can you please address other questions in my email please? I need some general information on the delisted stocks. Thank you for all your assistance in advance.
My email is sharkmph@aol.com I would be happy to forward you a copy that I received from Ameritrade.
Email me if you want it.
Got mine from ST. Basically I see it as this. either they have an acquisition lined up or they don't. If they do we stand to make some gains. If they dont then they "may" but not "obligated" to distribute remaining monies from asset sale to shareholders.
I do believe they have something lined up, I for one will sit tight until we know more. Just my 2c.
tlo.
If anyone can point me to the Dissenters deal I'll examine it.
All this legal crap has me very confused if we dont take the Dissenter's deal is there any chance we will ever recover our money? Or part of it?
Regretably, Gonzo, I haven't read all of the current info on Cape, other than being aware of the company's asset sale.
I do know that Cape transformed to a private company once the CSYG stock registration was revoked.
Shareholders' only recourse was to sue the company so that any asset sale might have been assigned (in part) by the Court to CYSG shareholders. Shareholders in part or as a whole could still get an urgent injunction to put Cape's asset sale or the proceeds of the sale on HOLD until a Court can hear shareholder arguments.
Unless CEO Toms covenants by public notice to assign some of the asset sale proceeds to CYSG shareholders I would personally get to a Court in Cape's domain jurisdiction and ask for that injunction.
Convey that to Toms.
In Remembrance of 9/11:
This morning or late last night.
I got mine.. Email from ST also.
I have ST too, so if I do not get an email shortly, I will contact them.
Id like to just to try and make their life more difficult but its not worth the time and possibly money it would cost to do it.
I received it in an email from Scottrade this morning.
Glad to see you here Renee. If you have an opinion on where this is headed I'd really like to hear it. I'm leaning towards dessention because I really don't trust these guys.
You received it already?
I WILL SAY IT AGAIN=DO NOT EXPECT CYSG TO TRADE ANYTIME SOON.IF EVER
IF TOMS SAID WITHIN TWO MONTHS,I WILL TELL YOU THIS.I WILL GIVE HIM 6 MONTHS FROM TODAY AND I PROMISE YOU THE STOCK WILL NOT BE TRADING
TODAY IS SEPTEMBER 11-2013.THE STOCK WILL NOT BE TRADING ON MARCH 11-2014.MARK THIS POST.
It took 38 pages of legalese to tell us we're going to get screwed.
Substantially all is interpreted as 90%. CSG, Inc. will be a shell after the sale
Can someone please give some general information on delisted stocks? Do they ever trade? If they do, where do we check the trades? Is it possible for them to get on any board or list and start trading again?
In my brokerage account, those delisted stocks do not even appear under my portfolio anymore. If they start trading, would they appear in my portfolio in my account? If anyone could answer those questions or similar questions or at least tell where I could find answers to them, I would greatly appreciate. Thank you guys,
Thanks but I do my own DD and am not Brainwashed. So you will be sending in your paperwork for "Fair Value"? Who else is??
There not touching DPSI. They have probably milked that for all they could already.
Does any body have a figure of how much money this company raised by selling shares since it was started ?
That was the SALE of the Subsidiaries!!! We still have NO clue what is now CSG Inc. is worth... lets say they do have this $20mm in nol's what is that worth to another Co. they may or may not have in the works.. what would that do for DPSI???
Why are they getting a bonus, they have sold several million of stock onto the market and now the company is worth only three million.Surely they should be getting fired for utter incompetence.
So Toms and his 4 buddies get almost 750 million shares as a bonus for selling the company for a fraction of the money they raised by selling shares ? This is looking more and more ridiculous!!!
Its no wonder DPSI shareholders are running for cover.
No they supposedly had a company lined up to purchase but this current deal took too long. Probably more lies though.
That was in regards the sale of Cape Systems/Cape Systems & Consulting Group.
They did have but that was a year ago and that has passed.
but that's not what you go by if you dissent, from my understanding. It goes off the financial situation of the company the day before the transaction, which is probably terrible.
Also, half of that they have to keep in the bank for I believe 39 months. And I would be very surprised if they even have 3 million left from the start. Unless they take on more debt I just don't see how they will have the capital to do anything substantial anytime soon.
I really believe they have a plan merger/acquisition in mind or in the works.. "The 2nd Deal"
There shares are almost worthless, by keeping the company going they will draw down several times that amount in wages and expenses.
A big plus is between all these guys they all received common stock as a bonus..
Hugo Beirmann 228,000,000, Nic Toms 227,245,707, Otto leistner 100,000,000, Brad Leonard 81,000,000, Phil Blocker 100,000,000
THEY HAVE INCENTIVE TO GET IT TRADING!!!!
Sounds like this whole deal was for the benefit of the 4 or 5 goofballs at the top. Really doesn't sound like we stand to benefit from this any time soon or ever imo.
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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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