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DB7,
Thanks for the post. Looks like more good news. There was some trading a month back, but it looks as though things are once again very quiet.
Dear Shareholders,
Below is a letter that we have sent out to various media outlets showing what has happened to Kelyniam global. Please email us at Klygshareholders@gmail.com We need your help to take our company back.
We are a few of the major shareholders for Kelyniam Global and we are notifying you regarding a publicly held company called Kelyniam Global located on 97 River Road, Canton, CT that was literally stolen from the shareholders on December 30 2017. The company started as a fantastic story with state of the art equipment and promise. Kelyniam was even written up in the Hartford Courant article when U.S. Sen. Richard Blumenthal, who met most of the company's 12 employees back in 2012. At that time, the company had much promise with the stock trading at $.28 per share. Kelyniam Global Inc. even received a $250,000.00 loan and a $100,000.00 matching grant from the state of Connecticut as part of Governor Malloy’s push to promote manufacturing jobs in CT.
You could imagine our concerns as the stock continued a consistent downward to the point where the stock was trading as low as $.01 in October of 2016 (a 94.5% decrease in value). We had individually made numerous attempts to contact the officers and the board of directors until finally we came together and wrote the following letters to the Board of Directors. The last “Annual Shareholders meeting” was May 14, 2012. The company consistently released vague financials
Please look at the following attached documents:
1st Letter to the Board of Directors 12-23-2016
https://drive.google.com/file/d/0BxoYpx0AMumDR01fanV2VWZsdkk/view
2nd Letter to the Board of Directors 12-23-2016
https://drive.google.com/file/d/0BxoYpx0AMumDOGhZX3FUNlRYb00/view
3rd Letter to the Board of Directors 1-3-2017
https://drive.google.com/file/d/0BxoYpx0AMumDNHUtQ185UTdGS2M/view
Now here is where things take a turn to the surreal. It is our understanding the December 30, 2016 Kelyniam Global, Inc finally had Board of Directors Meeting was attended by the following members: Tennyson S. Anthony, Dr. Mark Smith, Chris Mirucki, and Naveh Levy. Instead of raising the issues brought forth by the shareholders, and questioning the current leadership, they voted on the following benefits for the current CEO. Document named Agenda
https://drive.google.com/file/d/0BxoYpx0AMumDcWxCZUdqOTZEOFU/view
1. Extend the initial term of employment Contract of Tennyson S. Anthony, President and CEO until July 1, 2020 at a Salary of just shy of $180,000 per year. Note that the company is losing money and the two key employees that are responsible for FDA compliance had left the company. It is our understanding that there are now less than 5 people working fulltime at Kelyniam with no sales staff.
2. The issuance of 1 million shares of Preferred Stock to Tennyson S. Anthony. Note that Mr. Anthony is the only individual to own these shares and that these shares have the right to fifteen (15) votes for each share. (15 million shares of voting power)
3. The document entitled Schedule B https://drive.google.com/file/d/0BxoYpx0AMumDcWxCZUdqOTZEOFU/view?usp=sharing
the CEO was granted an additional 5 million shares of common stock as well making his voting rights greater than ALL of the outstanding shareholders. See share confirmation on the attached document called Kelyniam Annual Meeting.
4. For their part in this theft, Dr. Mark Smith was granted 500,000 shares, Dr. Christopher Mirucki 250,000 shares and Dr. Naveh Levy 150,000 shares.
5. This action diluted the stock from just over 20 million shares to 25,726,800 shares of common stock and the new 1,000,000 preferred “super” stock issued and outstanding as of February 6, 2017.
Today, the stock is trading at $ .0251 per share with a market cap of $511,460. This means that the market reflects an outstanding float of just over 20,377,000 shares not 25,726,800 . There are no company SEC filingssince 12-30-2011.
The Certificate of Amendment of the Articles of incorporation that created the Preferred Stock states on its face that it was approved by shareholders with 7,654,377 shares, while the same Certificate of Amendment states that there were 16,296,235 shares outstanding and entitled to vote. Simple arithmetic shows that 7,654,377 shares is less than 50% of 16,296,235 shares outstanding needed to pass the creation the Preferred Stock Section 78.390 of Nevada Revised Statutes provides that in order to amend the Articles of Incorporation "stockholders holding shares in the corporation entitling them to exercise at least a majority of the voting power, or such greater proportion of the voting power as may be required in the case of a vote by classes or series, as provided in subsections 2 and 4, or as may be required by the provisions of the articles of incorporation, have voted in favor of the amendment." Thus, the Certificate of Amendment purporting to create the Preferred Stock is inherently defective, so no shares of Preferred Stock are authorized or may be issued.
This action would make the CEO the majority voting member of the company. Making the Combined Annual and special meeting of the shareholders March 17, 2017 at 11:00 a.m. all but meaningless.
Please note that since we started looking into Mr. Anthony's actions as CEO, 2 of the company's officers and board members have been removed from their positions. Leaving the CEO as the only company officer and the CEO and 3 of his friends as the remaining board members. http://www.kelyniam. com/profiles
Tennyson S. Anthony -- tanthony@kelyniam.com
Dr. Mark Smith --mvsmithmd@gmail.com
Chris Mirucki --cmirucki@netscape.net
Naveh Levy --navehlevy@yahoo.com
Thank you,
The Shareholders of Kelyniam Global
Stock symbol KLYG
Kelyniam Global, Inc.,
97 River Road, Canton,
CT 06019
(800) 280-8192
Fax: 1-501-641-2000
PLease feel free to contact us at
klygshareholders@gmail.com
844-559-4335
844-KLYG-335
Please send us your contact info and let us know how many shares you have as well. We are looking to get a share holders vote going asap.
Share holders meeting to remove the CEO of Kelyniam
A number of the major shareholders have attempted numerous times to work with the officers and board of directors to find out what is going on with Kelynaim and to look to see if we can find a solution. As many of you know, the company is VERY reluctant to disclose any information and is always late when it comes to disclosing the financials. Here is what we were able to find out after extensive investigations. These items are unsubstantiated and are what we believe to be true. I urge all investors to call Kelyniam especially Mr. Tennyson Anthony ,the CEO, to verify any and all rumors.
Nicholas Breault and Christopher Breault are no longer with the company. These two individuals were 2 of the 3 officers in the company.
Nicholas Breault and Christopher Breault were the contacts for the FDA and for Quality control. To the best of our knowledge, they are the only contacts.
To the best of our knowledge, the company is not shipping and products to customers. The company is now being run by the CEO alone (Mr. Tennyson Anthony). He has convinced the board of directors that this is the best course of action. It is our understanding that Mr. Tennyson Anthony now manages somewhere between 3 and 5 employees and is still drawing an immense salary to do so. The company is bleeding money and there is little to no income coming in.
Please contact Mr. Tennyson Anthony to confirm the status of your investment in the company and I urge you to pass this information on to anyone that may have invested in the company.
In the meantime, we are looking to gather together as many shareholders as possible to call an emergency meeting to attempt to salvage what is left of the company. We will be voting to remove the CEO and the board of directors. We will be posting an email address where you can tell us your name and share count so that we can perform this action.
KLYG shareholders have contacted an attorney and are looking at the possibility of legal actions against the officer in the company and the board of directors.
They finally posted the bad news. Looks like they are moving backwards in 2015.
http://www.kelyniam.com/news?article=december2015-comparison
Het nodoubt, you know all of the major investors. Why don't you get them together to possibly push for a change in the company structure. I'm not sure why Ketner ever brought T Anthony on board, but that's all in the past. I think that there needs to be a change in the guard if we are going to salvage our investment. I still believe in the product, not the leadership.
I was told that the financials are complete and that they will be posting the information soon. I was also told that the CPA was on vacation these next 2 weeks. I'm not sure why they would need thier CPA if the financials were already complete, but that is what they are saying.
Unfortunately, the management at Kelyniam feels that they do not have to comply with the SEC or their own articles of incorporation. They have not disclosed the company financials since the end of Q4 2014. Below is a letter that I emailed to Mr Anthony and Mr. Breault. I am looking to possibly escalate this to the next level. Please feel free to contact me if you feel the same way.
Dear Mr. Breault and Mr. Anthony,
As a significant shareholder in Kelyniam , I am inquiring as to when you will be announcing the company financials for 2015 and for the first 2 quarters of 2016? Could you please advise me as to when you are planing on having another shareholder's meeting? I have tried numerous times to get an answer from you regarding the company. My next step is to submit a complaint to the SEC. https://tts.sec.gov/oiea/Complaint.html
Thank You,
XXXX XXXX
THX Hank. Your efforts are much appreciated. I just hope that they stay o track and possibly do a few more press releases. It concerns me that the gross sales have dropped. I would think that the med-ally merger would open up a larger sales force. Any idea as to how they are doing sales? All in house or using outside reps?
10 Bagger. Did you get a chance to talk to the CEO? Any word? Now that they know that you are not a market maker, will he take your phone calls?
10 Bagger. THX for going out there and checking in on KLYG. Please let us know what is happening when you speak with Mr Anthony. BTW, has anyone heard anything regarding the preferred stock that they voted on in the last shareholders meeting? Does that stock need to be registered with the SEC?
I am very interested in the company. I also hold "a lot" of shares in free training and certificate form. Early friends and family investor. Who would you recommend at the SEC I contact? Trading stocks is not my strong suit, I am VERY interested in this company succeeding. I still believe in the products, I have no idea what the company has been doing. Unfortunately, the cancerous element that Mr. Ketner brought in, pushed out all of the original players (including himself).
How about the lack of an annual shareholders meeting?
It's hard for any investor to take these guys seriously when they have been running silent for almost a year. They are constantly late with disclosing their financials and they haven't had a shareholders meeting in a couple of years. That meeting was designed to push the board's agenda. Now that they got their election and their new share structure, no word. Has anyone heard anything about this new preferred stock? At least the company hasn't registered any more free trading stock as far as I can tell.
That BioCare LTD company looks very suspect. There is no contact information on the complete website
I have a question for some of you more seasoned investors. Doesn't a publicly traded company have to have an annual shareholders meeting? I think that last one was close to 2 years ago. I have tried to call the company but no news. I am looking for ANY information possible.
Has anyone been able to contact someone at Kelyniam? I was on their website, and they have some articles in the news. I would love to know when they are planning on releasing the financials.
Can someone help me out here. In the article, they say that the company had a Q3 2014 loss of $72,302
http://www.mddionline.com/article/custom-cranial-implant-company-aims-big-push-2015
Yet based on the company website, they had a Q3 2014 profit of $72,302
http://www.kelyniam.com/news?article=q2q32014-comparison
Which is correct?
Strange. Why would someone do that? Sell off 10K and then pull it back up with the 100 share buy?
Has anyone spoken to the officers? Same S#$% different year.
http://www.sec.gov/Archives/edgar/data/1372114/000122752806000336/ex_3-2.txt
BYLAWS, KETNER GLOBAL INVESTMENTS, INC.
ARTICLE 2. SHAREHOLDERS
SECTION 2.1 ANNUAL MEETING. The annual meeting of the shareholders shall be held in the month of January of each year. The precise time and place for the meeting shall be determined by the Board of Directors in advance of the meeting. The purpose of the annual meeting shall be for the election of directors and for the transaction of other business as may come before the meeting. If the election of directors shall not be held on the day designated for the annual meeting of the shareholders, or at any adjournment thereof, the Board of Directors shall cause the election to be held at a special meeting of the shareholders as soon thereafter as is convenient.
The company is required to have an annual shareholders meeting. I would recommend that you call Mr Anthony and ask him his intentions. I did and was told that they have no plans to hold an annual shareholders meeting any time soon. I recommend that you send them a certified letter officially asking them this question and then just send the same letter to the SEC. Mr Anthony does not feel that he has to comply to the company
Annual Meetings
State law and federal requirements, such as SEC rules if the corporation is publicly traded, prescribe the information that must be submitted for a vote of shareholders. State law generally outlines the requirements for the annual meeting for publicly held and privately held corporations, for profit and non-profit corporations. In all 50 states, Corporations are required to hold a meeting of the shareholders on AT LEAST an annual basis
Sucks may not be too far off base. The company seems to cherish the idea of not dealing with people until it's too late. I have tried a number of times to talk to the staff and no response. I am one of the few people that read the bylaws of the company and they are supposed to have shareholder meeting annually in January. Just ask nodoubtatall he was in on the ground floor. The company makes numerous statements about financials and then waits weeks to post said financials. This lawsuit settlement is put out by the company but not posted on the website.
Am I the only one looking at the financials and scratching my head? The numbers are all over the place. Try to determine the profit margin of the implant by dividing the net profit (gross sales minus cost of goods sold) by the gross sales. The labor and commissions are broken out, so the cost of goods (Material for the implant) should be a direct linear relationship with the sales, but the % moves drastically from quarter to quarter. If I'm wrong, please let me know.
I would like to propose that we look to move things to the next level. It is my understanding that Ketner had his hand on the pulse of the company and was friendly with most of the major shareholders (including himself). If he makes a couple of calls, I would imagine that he could get the ball rolling where we could start to change things. The share structure is tight enough where a few people can actually make some changes.
I would imagine that there is a way for the major shareholders to contact the chairman of the board and express our concerns. If he doesn't want to address our concerns, then there is always the SEC. The company's last press release back in May gave the summary of the finances, but the actual finances never made it to the website. The company has an obligation to hold annual shareholders meeting. The last one was on May 14, 2012. They have not announced another meeting since. There are a number of infractions that have occurred that Mr. Tennyson is accountable for, yet no one has called him on it. The last time I checked, we are the owners of the company not him.
So if anyone knows how to contact Ketner, I suggest that they do so. If not, I really don't see any point about bitching and complaining. Just sell your stock and move on.
June 20 and there are still no financials on the website.
Where are the financials? They announced them, but nothing on the website.
I am not sure why the management would announce that they have the financials ready in a press release, but not put the press release on the website or said financials on the website. Way to kill any momentum caused by the news release.
Any news about the financials or a shareholders meeting? I have emailed them a number of times with no response.
Anyone know about the new Chairman of the Board? Thomas Cleary?
http://www.macroaxis.com/invest/manager/KLYG.PK--Thomas_Cleary
Looks like the stock finally got firmed up with a realistic spread between the bid and the ask. The recent volumes are offering some promise. Let's hope that the company releases some financials soon. A few press releases explaining what's going on would be helpful. Any idea as to when the next shareholder's meeting is?
This stock has dropped off the planet. No one wants to buy and no one at the company really seems to care. Sooner or later, there are going to be more players and they will have lost any advantage.
OK, hopefully we can get a little ride!!! Anyone know where the money is coming from?
The financials are out. Check the website.
I'm not sure why the COG on the product is all the way up to 55%, not including labor. The implant is fabricated from a block of PEEK. The cost is the price of the material from Invibio plus shipping. I was doing some research and the cost for the product should be closer to 10-15% plus a 10% margin for sales reps. Worst case total COG should be closer to 25% maybe 30%. The rest of the cost is all labor.
Looking at the numbers, even a 2x increase in the sales will still result in a company loss. Where is this money going to come from? Are they planing on selling stock to raise more money?
Speaking of labor, what is the deal with the admin fees? How can that be so high for such a small company. It is almost the same as all of the salaries and wages.
Question: If the company sells stock to raise money, wouldn't that be in the income statement?
Does anyone know what the US market for these implants is? If KLYG were to get 10-20%, what would that mean? I was looking and I found another article regarding Walter Reed Med Center. I would venture to say that selling any implants there would not be likely. I think that this Dr Rouse has it all wrapped up.
http://www.eetimes.com/design/medical-design/4391426/High-tech-implants-resist-infection
Interesting article, not much new, but it's good to see that the company didn't fall off the face of the planet.
http://www.plasticstoday.com/articles/kelyniam-tests-new-peek-implant-products1214201201
http://sec.gov/Archives/edgar/data/1372114/000122752806000336/ex_3-2.txt
BYLAWS, KETNER GLOBAL INVESTMENTS, INC.
Exhibit 3.2
BYLAWS OF KETNER GLOBAL INVESTMENTS, INC.
ARTICLE 2. SHAREHOLDERS
SECTION 2.1 ANNUAL MEETING. The annual meeting of the shareholders shall be held in the month of January of each year. The precise time and place for the meeting shall be determined by the Board of Directors in advance of the meeting. The purpose of the annual meeting shall be for the election of directors and for the transaction of other business as may come before the meeting. If the election of directors shall not be held on the day designated for the annual meeting of the shareholders, or at any adjournment thereof, the Board of Directors shall cause the election to be held at a special meeting of the shareholders as soon thereafter as is convenient.
Looking for the good news coming from Ketner. Nodoubtatall, any word? I was looking over some old documents, isn't the company supposed to hold an annual shareholders meeting at the end of January? Dose anyone else have an idea as to when the annual shareholders meeting is?
I hope it's good news!!
Wow, I thought that I was getting a good deal at $.08. I like the idea of loading up at $.02
As far as Ketner, I would imagine that he personally knows many of the people that hold larger chunks of stock. Maybe he can get some muscle to get some answers. "nodoubt" may be able to contact Ketner and see if he can help.
We are all ears, do you know who the major shareholders are? How do we progress from here? I'm not sure how many shares the company has bled out since they got the OK to expand the number of shares. You got me on board, just let me know what you need done.