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He said the same to me last Wednesday!!
He did, he said hopefully today if not tomorrow.
Did Phil say this ?
A pr will be out today explaining.
Well at this point we are all waiting on the postal service.. with all of us living in different parts of the world some may get the packet sooner.. please keep us informed if that may be you. Thank you!!!
GO CYSG and GOD Bless us Shareholders!!!
Exactly... It's a possibility that part of the deal was the billions of shares held by AJW were leveraged to vote for approval of the acquisition in exchange for their 'fair value' upon release those contracts via the dissent process. Result: debt paid, share structure rectified, and some cash remaining to go forward and put the net-operating-losses into a functional company which could acquire new assets.
I'm sure AJW only agreed because they are against the wall with the liquidation and could not otherwise dump their shares because CYSG was allowed to be delisted and would never trade again until the debt was released in a manner favorable to Cape.
From what I'm reading, the company is required by law to honor dissenter's rights, and this is not a plan devised by them to reduce the share count. Shareholders have the right to dissent from corporate acts such as a merger or sale of substantially all of the assets of a business and demand payment for fair value of their interest. I'm holding.
Yet, but it will.
I do think they are trying to clean up some overhang Wardo.
The fair value will be the same whether 100 mil representative shares dissent or 1 bil. It could be some nominal market value that the dissenters receive. How do you really value shares that are valueless at the moment?
Now to those who do not dissent, it may be they are taking a risk that Toms can get the shares exchanged for the entity going forward.
So many questions, so few answers.
The SALE has not happened yet!
An shell (temporarily) that is sitting on cash (temporarily). Take the cash or wait for the shell to be filled.
We own shares in an empty shell. All assets were sold. Pay attention people. An empty shell that is clean is worth a little, but no shareholder benefits from esko.
That is very possible!! I feel the same way.. Fair value will have to be pretty dam FAIR for me to sale.
One consideration is that Cape management (Toms, et al) have no reason to 'dissent', since they are part of the >80% who arranged and approved this action... so if they are keeping their shares, I'm keeping mine.
It begs the question, how much of the remaining <20% of shareholders do they truly expect to turn in their shares in exchange for a 'fair value' and actually make a difference? I'm halfway wondering if this is actually an 'out' for the liquidation of the dilutive shares owned by a certain hedge fund.
Exactly... this is a way for them to retire shares without a buyback. The value of the company is still there, it's just about to be exchanged for a tangible amount of cash, in which shareholders have equity... and if shares are retired, the remaining shares are worth more.
...that's the theory anyways. It's also possible they play a shell-game with the cash and stick us with a shell-company that we still can't trade.
I guess we'll see.
Looks like they maybe sending these off the NOBO list.
I'm sure it will all be in the "Informational packet" on its way to a mailbox near you!
IMO.. it will be re-listed through a merger/acquisition. I bet this is a way for them to clean up some shares buy giving shareholders an out. STILL A LOT OF QUESTIONS!!!!!
Wait, I thought CYSG was going to be the first to be re-listed???
How shocking.
I e-mailed Phil last night asking about the letters with the name/password. Here's his response (sent to me last night).
"The mailing with your login & pswd just went out today. Email me again if you do not receive it by this Friday and I'll get it for you."
Alot depends on what they do with the proceeds from the sale of our assets... This turd requires significant polishing.
None of us have. The Shareholder Announcement is linked at the top of capesystems.com
You can email pblocker@capesystems.com and request your name and pw like I did. Then you get a reply stating that it's in the mail. Obviously they don't want anyone getting their hands on the real info yet.
I have not received anything
Was it communicated to you guys via email?
I'm not sure the fair value will be disclosed until the paperwork is submitted. I want to know , what if one does not dissent? Do we get some other form of stock in another entity? Does this dissenter right allow 100s of millions of shares to be settled? Will it be based on par value?
The letter says the co will not use the proceeds from the transaction to pay the SH who dissent. But will use the monies as described in the informational packet.
A pr will be out today explaining.
Yes.. At around 10:30pm
Does anybody know what Fair market value is set at ?
Is it worth holding onto the stock ?
Do you have to exercise dissenters rights before the 19th ?
What are the future plans ?
Question is, is this the only way to get anything, and what will be the fair market value?
If you do not file, will there be an exchange of any other sort, since substantially all the assets will be sold?
'Dissenters' Rights'
State legislation that allows shareholders of a corporation the right to receive a cash payment for the fair value of their share, in the event of a share-for-share merger or acquisition to which the shareholders do not consent. Dissenters' rights allow dissenting shareholders an easy way out of the company if they do not want to be a part of the merger.
CORRECT.I SAID IT 3 YEARS AGO.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56861358
TAKI Member Level
Thursday, November 18, 2010 1:12:44 PM
Re: vikingzskillz post# 34857
Post # of 41739
Don't keep your hopes up.MARK THIS POST=CYSG WILL NOT BE TRADING AGAIN BEFORE JUNE 2011.IF IT EVER TRADES AGAIN.
The answers to my questions that I just text from Phil Blocker do not give me any confidence in trading or a return on my initial investment. As I have always stated, "CYSG will never trade again."
Toms and company just bent over the shareholders and screwed us all. Believe what you want, I don't care, but the reality is what I have just stated.
SO IT LOOKS LIKE THE STOCK WILL NOT TRADE AGAIN.
Was this emailed to you?
I received the same.
What I got from Phil...
Michael,
"We did not release a PR today, hopefully tomorrow. A Notice to Shareholders was mailed today which you will receive in a few days that will have your login and pswd.
Philip E Blocker"
Today was probably the proper and timely day to exercise your dissenters rights to receive any payment from the proceeds of the sale. You will most likely get the log in information tomorrow.
I never received anything of the sort. I did text Blocker just now asking him for my login info.
So.. has anyone received the notice with name and password? It's written like the notices were already mailed out.
Cape Systems Shareholder Announcement
Waiting for my name and pw from blocker to access the "Informational Materials". I can only wonder what "fair market value" for our shares will be if we choose to jump off the ship during the transaction.
http://www.capesystems.com/ESKO/Cape%20Systems%20-%20Letter%20to%20Shareholders.pdf
Maybe we will get that PR during the week. Lets hope!
Then it could be a while, Toms is busy diluting DPSI into oblivion.
Phil still thinks it will go out today. Waiting on Toms.
Hey just got news... The dog ate the pr.
Phil is as bad as Toms it appears, i would hate to do business with them.
Was that pacific time or a different Monday?
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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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