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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."
thank you for that example, but my point was that it hasn't happened for any company revoked in the last 5 years.
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I once thought that date started when CYSG was revoked, or later when they sold off assets.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.
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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?
Your prob right.. I tell him he needs to go back to school... and what did your lawyer say, or are you a lawyer?
A first year lawyer could read that and conclude retail shareholders are screwed. Perhaps you should shop around for a better lawyer.
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underdog150'.. Did your lawyer look over it for you?? Mine did today, He said basically they have to put an out in Doc's of that mater for protection because anything can happen and they are forward looking statements that have not happened yet.. He also said he can not see any reason they would go to all the trouble and spend all the money they are to not intend to have success.
What did your say??
Not sure, not sure if it will include the 750 million share bonus either. They could have been paying themselves in the shares for the past 3 years.
The A/S was maxed at 4 billion a few months before revocation and then they increased the A/S to 8 billion. I would not be surprised in the slightest to see management own more than 3 Billion shares.
Which gives nothing to current shareholders if you first don't comply with the dissenter rights, then pray and hope the sellers consummate a post closing transaction.
You are now back to square one, waiting for Cape to do something, and relying on Blockers statements to come true. Good luck with that scenario.
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That document is nothing more than typical legal jargon needed to consumate the asset sale.
Blocker said that? Seems a little high.
Will that number change after the asset sale?
Hugo Biermann is nearly 100 years old.
Lol, he's practically dead.
We do its 5.5 Billion as per a CYSG officer yesterday.
Sure they can R/S it, if they want. However, why would the BOD's, which own common shares just as we do, want to reduce the amount of shares they hold too?
I was extremely confident, if it did trade, there would be a R/S until I saw they accepted that kind of bonus. No way they want to lose any shares.
Hugo Biermann is nearly 100 years old. He's not in this to lose anything at this point.
'underdog150'.. Did your lawyer look over it for you?? Mine did today, He said basically they have to put an out in Doc's of that mater for protection because anything can happen and they are forward looking statements that have not happened yet.. He also said he can not see any reason they would go to all the trouble and spend all the money they are to not intend to have success.
What did your say??
We don't know what the actual OS is. I imagine alot of Ripoffsky's shares are gone.
That would be nice, but a company that is not listed and has 4 or 5 billion OS does not seem like a very attractive shell company.
Can CSG do a reverse split before a merge.
I have a friend that has been in finance and stocks for 50 years. I'll accept his advice over any lawyer any day.
That document is nothing more than typical legal jargon needed to consumate the asset sale.
Please have a Securities Lawyer look at that document for you booger, you may be surprised about what your hoping for is rather far from reality. GLTU
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Phil Blocker told me in a text today that Cape has already signed an LOI with a private company looking to go public with Cape or CSG, Inc.
Take that for what you want. You know nothing more than anyone else about what is going on. Either you believe or don't. We can't convince you to believe they are moving forward with all this.
What you see in that info packet is just legal talk and probably worded that was as stipulations with Esko till that deal is finalized. I suspect once the Esko deal is finalized, the other LOI will be revealed directly after.
The company did mention 2 deals in the works long ago. The Esko deal was one and now this other that Phil Blocker told me they had already signed an LOI with.
Phil Blocker told me in a text today that Cape has already signed an LOI with a private company looking to go public with Cape or CSG, Inc.
Take that for what you want. You know nothing more than anyone else about what is going on. Either you believe or don't. We can't convince you to believe they are moving forward with all this.
What you see in that info packet is just legal talk and probably worded that was as stipulations with Esko till that deal is finalized. I suspect once the Esko deal is finalized, the other LOI will be revealed directly after.
The company did mention 2 deals in the works long ago. The Esko deal was one and now this other that Phil Blocker told me they had already signed an LOI with.
Not sure what was missed in the shareholder letter.
It clearly states you get nothing unless you dissent, then further states you get nothing unless (the sellers) meaning Cape, find a
post closing acquisition
If the seller group is unable to complete a post closing acquisition, then at that time the company will reevaluate the use of any proceeds from the asset sale, and at that time the company may, but is not obligated, to distribute all of or a portion of the remaining sale to shareholders.
It's good to be skeptical in this situation. I have been the whole time. However, just because it hasn't happened lately doesn't mean it won't happen. What gives me hope is the BOD took shares as a bonus and they signed an LOI already.
thank you for that example, but my point was that it hasn't happened for any company revoked in the last 5 years.
none. no revoked companies have re-registered it's shares
Why did the BOD accept common stock as a bonus?
Actually, Cape is still a fully operational company right now. At the end of the month, it will be a shell.
THAT company is not going to be trying to relist and will have no bearing on them getting CSG relisted.
Of course not, that's why they already signed a LOI with another company.
CYSG. We were talking about revoked symbols, when it was revoked CYSG had a real business. CSG is a shell.
Not until this one does.
You asked about CYSG and the long list of revoked stocks. CYSG was operating with a real, legitimate company. Now it's a shell but, when the symbol was revoked it had a real company.
none. no revoked companies have re-registered it's shares.
wait a minute. it's a shell? not real company as someone else just claimed?
it's a process
No kidding?
Obviously they don't think the SEC will have an issue reinstating the stock.
We all know its a process. No one is disputing that fact. You are arguing the intent. The intent is already on paper. The process has already begun to be reinstated.
How many Co have gotten registered to trade with the Sec??
if they already know it's going to be relisted?
they don't. and won't until they actually have a form 10 approved by the sec. it's a process.
They can't reinstate the company until it is a fully operational company. At this time, once the deal is made, the company is just a shell. No way the SEC will reinstate them as a shell. Part of the stipulations of being listed publicly is to prove actual and projected revenue streams.
As of right now, the company cannot trade again, but with the signed LOI to acquire an actual operating company, then yes, they can/will trade.
Sure it matters. What's revoked? The symbol or the company?
The LOI is already signed, it's all already in the works. Why wouldn't they, if they already know it's going to be relisted?
Officers get shares all the time and the SEC doesn't say squat about it, why would they take it into consideration now?
doesn't matter.
Ask yourself this.... Why would the board issue themselves shares in a revoked stock if it wasn't going to be relisted?
Ask yourself this.... why wouldn't they successfully relist before they gave themselves ahares? doing it the way they have sure makes it easy for the sec to deny.
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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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