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It is very simple to understand. The pathetic leadership of CipherLoc has left it with $17 million dollars of piled up losses since the Paulson Pipe deal 30 months ago. The 4 CEO's of CipherLoc and the BOD have piled up +2 million in liabilities by paying bonus bribes to two former failed CEO's to the tune of $620,000.00 and by renting out unneeded office space in Washington DC for $18,0000.00 per month on a long term lease that was approved by a weak Board of Directors that now sits as a $730,000.00 liability on the balance sheet. Anyone buying this stock at .30 cents will soon regret his actions because the company is now faced with two very bad choices. 1) Sell shares and massively dilute shareholders. 2) File for bankruptcy. Option number 2 is inevitable because who in their right mind would give more money to essentially the same bad figs that pissed tens of millions of dollars down the drain? Once everyone comes to realize there is no interest in giving bad fiduciaries more money to lose then you will clearly see Cipherloc's future: Bankruptcy in April 2021.
The company is on the verge of bankruptcy, not greatness. What in the recent income statement or balance sheet would make anyone feel optimistic about a company that's run through $17 million dollars in 30 months and has no revenues to show for it and a company that is out of money and has run up millions in liabilities? Why would anyone invest in such a company, it simply makes no sense. I just don't see anyone desiring to write a check to a company that's on the cusp of filing bankruptcy led by a COB making bad decisions time and time again and then leaving the company for dead with no cash for the vultures to pick apart its carcass. I can't help but wonder what people will say if new money doesn't come in to pay their bills next month and they are forced into chapter 11? The track record here is abysmal. Can anyone credibly argue otherwise?
Then go look at the income statement and balance sheet. The fat lady is warming up to sing and sing loudly.
Go ahead and pick up the phone and ask someone at DataPath IR if the Cipherloc press release is true and if they feel the product is in fact ready to be deployed by them and ask them why they wouldn't announce this great news to their clients?
Do the same with ECS? Call and ask them if the technology is ready to be "integrated" and sold. Guess what... ECS also did not make a joint press release either back in March. I don't recall JCI ever signing a deal or either company announcing a joint deal of any kind together. We never heard anything come from "ManTech" that Borene mentioned on his conference call right before he was ousted. Castle Shield and Soundfi are teeny tiny private companies so who cares about them. Arnouse Digital does business with the government and the pee does not have nsa certification so they can't use it either. So who are these "multiple partners and distributors now ready to integrate and sell our solutions". Lies, lies and more damn lies! MDLG's legacy of lying to shareholders lives on! If Cipherloc has multiple partners and distributors" then where are the press releases and why are there no revenues? Ask the simple question to the CEO of how many proof of concepts have you done with your partners and customers that make you believe the product is market ready? As Intuition said yesterday.. it's a scam....a fraud....this BOD's and these part time executives need to be replaced immediately or bankruptcy is guaranteed. The minute the BOD's realizes no one is throwing away more money to the same people that pissed away millions upon millions of dollars in legal fee's, bribery bonus payouts and unneeded expensive office space in DC. It's over folks. Don't let a .30 cent stock price fool you.
Nietzsche Tuesday, 03/09/21 05:13:01 PM
Re: Microcap Woman post# 22546 0
Post #
22548
of 22548
This is a great point...
If there are companies out there willing to use the tech... why can't CLOK get another company to issue a press release confirming this?
Look at the recent Datapath press release. Did Datapath issue a joint press release? The answer is NO. Did Datapath make any comment in the press release Cipherloc issued? The answer is NO. Should anyone trust or believe in the contents of that press release or the people in charge that issued the solo press release? The answer again is a resounding NO.
How confident can a CEO be when $17 million dollars has been lost in 3 years resulting in no revenues and a balance sheet that shows no money left to pay future bills and 2 million in liabilities? It's a smokescreen to make shareholders believe they did their very best before it goes into bankruptcy. If you believe what the CEO said in his letter today then I have a bridge in Brooklyn to sell you.
The only opportunity shareholders see is an opportunity to lose MORE money in a penny stock that their main brokerage firm won't allow them to deposit otc clok shares. Why would shareholders want to get deeper into quick sand?
To avoid bankruptcy, CipherLoc will most obviously need to find someone to sell new shares and dilute the shareholders by selling stock 75-80% below the Paulson pipe in 2017. But even if they do try to raise new money, who will write checks for a company with no revenues and has chewed through $17 million dollars in 3 years and with the exact same BOD's in charge with exception of the smart one who left recently. What hedge fund would buy this stock now? They would see Jeb and Manchester got totally embarrassed and blown to pieces in the loser company and new funds will stay far away. What brokerage firm or what stockbroker at a brokerage firm would take the risk to call their clients and pitch a no revenue penny stock that is out of cash and +$2 million in liabilities filled with 3 part time executives? The only people left to fund this near bankrupt company are the tired old shareholders who have been lied to time and time again and right up to today's CEO letter. Will these angry shareholders step up and write checks to CipherLoc? I doubt it. Once the BOD's realizes no one will put new money into this loser stock, they will file for bankruptcy and the stock will go from .30 to .00000030 overnight. Then you can expect class action lawsuits to begin. The balance sheet shows CipherLoc has bills to pay and it shows they don't have cash to pay future bills. They will have one choice left and bankruptcy will be inevitable. The month of March will be the last full month CipherLoc will live half-dead. April will be the last month of its miserable existence and most will be relieved to see it finally die. The BOD's will be most happy to see it die.
The easy solution is TO ASK THE CEO THE QUESTIONS. But he'll probably just tell you more lies. On or before April 2nd CipherLoc will be filing bankruptcy.
Lies and half-truths and more lies. The MDLG legacy lives on! MDLG, Dr. Al Carlson and Joe Gangi would all be so proud of this letter of lies:
“To my fellow shareholders”. Someone please ask Mr. Chasteen how many shares he owns and is currently buying in the market? How about none.
“First quarter was an important turning point”. He is correct. It was an important turning point towards bankruptcy as it was the first quarter CipherLoc finally flushed every last penny raised by Paulson Investment down the toilet. Now they live on a few thousand dollars of the remaining Covid-19 money.
“Mission focused”. Someday ask Mr. Chasteen how focused can a bunch of part time executives be. Ask him how much time each day he is dedicating to CipherLoc vs. his full time job with the COO who is his boss.
“We launched a proactive sales and marketing effort last spring”. Ask Mr. Chasteen to show us proof of even one marketing effort that’s been made. Where is it? Oh, let me guess....it doesn’t exist.
“We now have multiple partners ready to integrate our solutions”. Someone ask Mr. Chasteen how many POC’s have been completed to be able to say the company has “multiple partners ready to integrate”. Someone needs to call these so called partners and ask if they have products "ready to integrate". MDLG is smiling ear to ear right now.
“Google has achieved Quantum Supremacy”. Someone ask Mr. Chasteen if he even knows what Quantum Supremacy means. Obviously, he does not know, or he wouldn’t have made the statement.
“The solar winds breach…” …it had nothing to do with encryption.
“…Cipherloc is the only company currently deploying the AES algorithm in a quantum-resistant way with a FIPS-certified product. We are particularly well-suited to solve the problem of quantum decryption with a solution that is agile and algorithm-independent.” Someone ask Mr. Chasteen what CipherLoc’s competitive edge is in deploying a coming FREE Quantum encryption? The answer is they have no advantage because the encryption is free and anyone will be able to download it just like they can now with AES 256 that is also free. Mr. Chasteen pulled out the old regimes playbook and is proudly running with it like it in 2017.
“…a FIPS-certified product.” Someone ask Mr. Chasteen if anyone in the US Government has ever tested the polymorphic encryption engine (pee) or has even heard of the pee?
“We look forward to an exciting and productive 2021 as we continue to advance our efforts with partners, distributors, and customers ready to move into the post-quantum world.” Someone ask Mr. Chasteen exactly how they are advancing their efforts with partners, distributors, and customers. Someone also should ask Mr. Chasteen if he understands that in order to be a “customer”, CipherLoc would have to have a finished product to sell, and one would have to have someone buying it. How does a non-revenue generating company say they have customers?
The bottom line is the pee is competing with free. The pee is a flawed concept. The pee needs to be flushed down the toilet.
omtrader
Tuesday, 03/09/21 10:31:44 AM
Re: None 0
Post # of 22533
Cipherloc Provides Business Update Letter from CEO
Press Release | 03/09/2021
AUSTIN, TX / ACCESSWIRE / March 9, 2021 / Cipherloc Corporation (OTCQB:CLOK) ("CipherLoc"), a developer of advanced encryption technology, today provided a business update letter from Chief Executive Officer David Chasteen.
To my fellow shareholders,
The first quarter of 2021 is an important turning point for Cipherloc as we continue to move forward in our top priority - transitioning our commercial ready software into revenue.
We start 2021 an extremely lean, focused and mission-oriented organization. We look forward to excellent opportunities in the year ahead. Today I want to share a number of updates with you as we continue to move our business forward.
First, we have drastically reduced our operating expenses over the past year. The global COVID pandemic hit just as we were preparing to launch a proactive engineering, marketing and sales effort last spring. We moved quickly to halt those plans, then began a rapid cost reduction program to conserve capital and lean out the business. Those efforts have been very successful, enabling us to operate through the pandemic and continue advancing key development programs.
We also settled ongoing litigation issues over the past few months, ultimately returning more than 14.5 million shares to the company and wrapping up legal expenses. The shares returned represented approximately one-third of our total shares outstanding.
But our focus was not strictly on conserving capital or reclaiming shares. We have made consistent forward progress over the past year, with multiple partners and distributors now ready to integrate and sell our solutions.
Every stage of testing done over the past year, whether by customers or third parties, has shown that our software not only works, it works extremely well for both present and future encryption needs. Where we have seen opportunities for further performance improvement, we have done so as part of our relentless focus on giving customers the best performance possible using Cipherloc's products.
The market for quantum-resistant market solutions is growing quickly and, according to analysts, is expected to hit $9.5B by 2029. And quantum is no longer a concept - it is reality. Google arguably achieved "quantum supremacy" at the end of 2019, and quantum computers are becoming increasingly capable of breaking existing encryption.
And that threat is real.
The SolarWinds breach makes it clear that private companies need to worry about threats from foreign nation state actors, who are making significant investments in quantum and encryption.
We believe that post-quantum encryption will be one of the largest and most critical technology migrations since Y2K. And like Y2K, organizations that plan for transition early in the product lifecycle will have an easier, lower cost transition process. Organizations that wait until the last minute will spend a lot more money fighting for scarce resources.
As far as we know, today Cipherloc is the only company currently deploying the AES algorithm in a quantum-resistant way with a FIPS-certified product. We are particularly well-suited to solve the problem of quantum decryption with a solution that is agile and algorithm-independent.
We are also future proof, helping to de-risk customers who choose Cipherloc for their encryption needs. When the NIST PQE standard algorithm is selected in 2022, we will be ready to deploy it to our customers, making Cipherloc a true quantum-ready solution.
We look forward to an exciting and productive 2021 as we continue to advance our efforts with partners, distributors and customers ready to move into the post-quantum world.
David Chasteen
Chief Executive Officer
I agree. Soon, VERY VERY SOON, this will be delisted in bankruptcy. Between now and April 2nd, this will not be .24 but .00000024 per share.
intuition Member Level Monday, 03/08/21 07:56:15 PM
Re: None 0
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22529
of 22530
Huge scam...can't believe it is even .24. Should be delisted
The only smiling shareholders are those buying with unfounded HOPE. The rest of us are shareholders are sitting with real losses.
clok-em-dead Member Level Monday, 03/08/21 05:24:10 PM
Re: Microcap Woman post# 22524 0
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22525
of 22526
One thing is for sure.....every single share sold today was also purchased by a smiling shareholder. Eom
The tech is Solid? If the technology was solid, why are there no sales?
It has Gov’t approval? If the technology had government approval, why isn’t the government using it? Why isn’t there an NSA approval like AES encryption?
The software is quantum ready? Was CipherLoc one of the algorithms advancing to the post-quantum crypto finals with the U.S. Government? The answer is no. Do you know why? Because CipherLoc never submitted its algorithm as a quantum ready algorithm. Google the finalists and see for yourself.
Load up on CLOK? Why would anyone load up on CLOK when they are out of cash and have millions in liabilities and the company either has to dilute shareholders in new money or go bankrupt? What in the recent Q would make anyone want to load up on CLOK?
Sellers and buyers? Yes, it’s very simple to understand that for every seller there is a buyer. The stock today on the bid price is down 78% from the Paulson pipe raise so here is something else to understand: There have been a lot more sellers than buyers and now the company’s balance sheet shows it is bankrupt, like right now.
Do you know why the stock is almost down 80%? The company has flushed $17.25 million dollars in 2.5 years down the toilet and has not generated one penny in sales and it has gone thru 4 CEO’s, that’s why.
clok-em-dead
Monday, 03/08/21 10:18:08 AM
Re: None 0
Post # of 22523
I truly believe that this technology is solid.
It’s been tested , retested, and tested again.
It’s FIPS compliant and has the government approval.
It is quantum ready.
Is it time to sell or to load up on clock?
For every seller there is a buyer.
CLOK is only .22 cents away from 0. My target is April 2nd CipherLoc announces bankruptcy and the stock falls to .000000022 per share.
Yes ClokTickk, CLOK is circling the drain. This is why its new symbol should go from CLOK to TURD because this TURD will be flushed into bankruptcy soon because the COB allowed the company to run out of cash and allowed the company to run up $2 million dollars in liabilities (Read the recent Q). But why? Why would the COB allow CipherLoc to run out of money? Why would he approve a $18,000.00 per month lease for several years when the company was burning cash and had no sales? Why would the COB pay MDLG $400,000.00 for near worthless shares (.22 cents away from 0) and pay a CEO STOLE millions from us shareholders? Why would the COB approve a $220,000.00 payout to Andrew Borene for failing as a CEO? Why didn't the new CEO do a conference call to introduce himself to the new shareholders? We all deserve answers to these questions.
CLOKtickticktick Monday, 03/08/21 11:06:42 AM
Re: None 0
Post #
22512
of 22521
Another week, another circle around the bowl...
At least, it sure seems that way in this vacuum they've created. What kind of CEO, the face of the company, hides like this? Is the C for Coward? Come on MAN! At least have one single Conference Call to introduce yourself, tell us what the H-E-DOUBLE HOCKY STICKS you are doing and going to do with our company!
Not sure what Ron Colby has to do with anything. Was he one of the four CEO's? Was he on the BOD's? Did he make executive decisions at CipherLoc? Not unless he was CEO or COB. Wake up as CLOK is .22 cents away from death and we shareholders have to look to the executives for answers, not blame some former salesguy named after a smelly chesse.
TronCarter Monday, 03/08/21 02:56:02 PM
Re: None 0 Post # 22518 of 22519
Let's also research Carlson, de la Garza, Wilkinson...
because Al Carlson, Michael de la Garza and Tom Wilkinson (and might as well include Borene too!) made a BUNCH of misleading statements and are responsible for wasting tens of millions of dollars invested by hard working investors.
Ron Coby? Wasn't he a contractor who was paid a monthly stipend, then became VP of Sales, and got us in the door of several companies? The one who created the Mantech deal, to see it sabotaged by de la Garza! Then the DataPath deal was overinflated and leaked by de la Garza, and I heard that Borene and Wilkinson participated in messing that deal up.
But, sure, I mean, let's see how far off topic we can get by "digging up dirt" on Coby, who was never in charge of CLOK $$ (like de la garza and Wilkinson), has never disclosed false and misleading information (like the present and past spokespersons for CLOK), and who has opened more doors for CLOK and created more REAL opportunities for CLOK than the other guys.
Since CipherLoc has lost $17 million dollars since the Paulson Investment Pipe raise 2 years ago and now has +$2 million in liabilities... it will either file for bankruptcy in March or dilute shareholders by raising new money. It is as simple as that.
Correction Nietzche. Everyone is looking at a near dead body that is more like roadkill because it still has a twitch as speculative investors are actually buying CLOK at .25 per share. The vultures will wait until the stock is closer to death should they get no new money and are forced into bankruptcy. Typically, the venture capital vultures swoop down and eat the remaining carcass when the twitch is gone.
Nietzsche Friday, 03/05/21 01:22:48 PM
Let's be realistic...
* The company is out of money
* The company is still being run by essentially the same board that allowed the cash to run out
* The current CEO has never had a conference call
* The company has been in testing with various entities essentially forever and that has not resulted in any real sales
* The most recent press release proves that they are talking out of both sides of their mouths (UDP vs TCP)
* No institutional money is going to come in on a new round of raising money. There is too much info out there now and those types of investors tend to research. They might raise money from individual investors but that's nickels and dimes.
Everyone is basically talking about a dead body...
Yes TronCarter, losing Zeynep Young was untimely and concerning. My understanding is she is a woman of high integrity. I have to assume she did not like the decisions Tom Wilkinson and the other board members were making and she had seen enough. She probably wanted to get off the Board before the shareholder class action lawsuits start to happen. She probably assumes it will be next to impossible to raise new money given the poor track record of CLOK management (four weak CEO's over the last few years). And she could see that will leave only one unfortunate option for the Board and she didn't want to be one of the board members to approve a vote to bankruptcy.
TronCarter Friday, 03/05/21 12:48:26 PM
With all things considered, what's the plan?
The lack of communication is bad for shareholders, and also bad for stock price.
The apparent lack of leadership, as displayed, is cause for big concern.
The dwindling of dollars is beyond unsettling.
Losing Zeynap Young is untimely, to say the least.
Spending millions on expensive attorneys and legal settlements to get back shares is very puzzling. Especially given the fact that the company is almost out of money. I suppose the only rational conclusion is that the company is going to get an infusion of cash.
A future cash infusion could be debt and/or equity. Which one is preferred??
And in my opinion he is a BAD CEO and you just need too see SONM weak performance since he took over as CEO of that corporation. In my opinion he is an even worse Chairman of the Board. As proof of that, look to what TronCarter pointed out yesterday. Tom Wilkinson has blown through $10 million dollars since he took over as Interim CEO and COB of CLOK. For perspective, MDLG blew through about $5 million of the pipe after Paulson's banking fee's and commissions. In addition, you have to ask yourself these questions. How could an effective COB approve a multi-year lease at nearly $20,000.00 per month when Tom was blowing through cash on legal fee's and CLOK had no revenues? Why would the BOD be so reckless and shortsighted to approve an expensive DC office space that now sits as a big liability to shareholders? Is he a good person, that is not for me to judge but we all should judge his performance by evaluating the facts and the facts show a BOD led by a COB that has run CipherLoc to the ground and it now sits with no cash and millions in liabilities.
ALL FACTS: Tom Wilkinson spent millions in legal fee's and paid MDLG $400,000.000 and gave him 1 million shares for a bunch of CLOK stock that is .26 cents away from zero. Fact: the BOD's approved an $18,0000.00 per month lease in Washington DC for a seven year commitment under Andrew Borene. Fact: the lease obligation is now a big liability on CipherLoc's balance sheet that could hinder any future money raise attempts. Another Fact. Andrew Borene made nearly $375,000.00 for three and a half months of work. FACT: Borene got $220,000.00 bonus on his way out the door for presumably and apparently doing a poor job as CEO or he would still be CEO. FACT: When you calculate the cash burn rate last quarter with the cash remaining last quarter to NOW, that Borene bonus money is more than CipherLoc has in the bank right NOW. QUESTION: Does this look like a BOD's that is increasing shareholder value when IN FACT the BOD's has left CLOK with two poor choices: massive dilution from offering new shares sold at prices 75-80% below the Paulson pipe raise 30 months ago to raise new money OR it's a simple FACT that CipherLoc will have to file bankruptcy because of no cash and $2 million in short term and long term liabilities. FACT: Those two choices are NOT the result of an effective Board of Directors. END OF DISCUSSION.
FACT: Tom Wilkinson spent millions in legal fee's and paid MDLG $400,000.000 and gave him 1 million shares for a bunch of CLOK stock that is .25 cents away from zero. Fact: the BOD's approved an $18,0000.00 per month lease in Washington DC for a seven year commitment under Andrew Borene. Fact: the lease obligation is now a big liability on CipherLoc's balance sheet that could hinder any future money raise attempts. Opinion: It would have been much wiser to have proven out the technology and then made revenues FIRST before spending millions of dollars for shares that are .25 cents away from being worthless. Another Fact. Andrew Borene made nearly $375,000.00 for three and a half months of work. FACT: Borene got $220,000.00 bonus on his way out the door for presumably and apparently doing a poor job as CEO or he would still be CEO. FACT: When you calculate the cash burn rate last quarter with the cash remaining last quarter to NOW, that Borene bonus money is more than CipherLoc has in the bank right NOW. QUESTION: Does this look like a BOD's that is increasing shareholder value when IN FACT the BOD's has left CLOK with two poor choices: massive dilution from offering new shares sold at prices 75-80% below the Paulson pipe raise 30 months ago to raise new money OR it's a simple FACT that CipherLoc will have to file bankruptcy because of no cash and $2 million in short term and long term liabilities. FACT: Those two choices are NOT the result of an effective Board of Directors. END OF DISCUSSION.
"HOAX" is a very good symbol given this companies history but seeing how crappy this BOD has been in the decisions made over the last 18 months, how about a symbol change from CLOK to TURD?
Hemaygoalltheway Tuesday, 03/02/21 04:30:20 PM
Re: None 0
Post #
22471
of 22472
How Many Times Have we Heard. we are Testing Just one more Test
This is 7 Years and Counting Of Fluff and Lies. There is no Substance Left in this Company !!!! Should change the Ticker Symbol to HOAX. !!!!!!
And obviously folks were buying in front of the datapath news because the stock has had good volume the last several days with only 450 shares traded so far today after the news. Someone got fed some hype and now is left holding the bag and its a stink-bag full of future losses.
clok-em-dead Member Level Tuesday, 03/02/21 11:54:54 AM
Obviously this PR is not going to raise the share price.
Correct. This kind of PR is not going to help any company out of money or with a stock on the brink of going to zero. If Paulson and Manchester don't act soon to eliminate and replace this BOD then CipherLoc is faced with near term extinction.
You'll hate it even more to see no money raised because CipherLoc's Q shows it is out of money looking at the recent Q's burn rate vs. remaining cash balance and CipherLoc has a balance sheet of liabilities putting it on the brink of bankruptcy. But here's the unfortunate part, who will want to give this company any more money after 4 failed CEO's and a board of directors spending millions in legal fee's for worthless shares? The new CEO is obviously uninterested or he has very little confidence in the future of CLOK or he would have told shareholders otherwise after he became the new CEO. There is only one remaining hope and that is to get a majority vote to fire all of the incompetent board members and clear out the entire company, and then go raise some additional capital, and vote in a new board and then go put people in charge that want to build shareholder value vs. destroy shareholder value OR Paulson Investment and Manchester Fund can sit back and we can all just kiss CLOK goodbye and watch MDLG use the $400,000.00 the Board was so kind to give him and allow him to buy CipherLoc's IP in bankruptcy. MDLG can then go put the band back together and hire Dr. Carlson, Joe Gangi and Carl Ranno. Wouldn't that be something!
Yes, this PR is "fluff" and it has no credibility because there isn't a comment from Datapath and no corresponding PR from DataPath. DataPath probably has no idea this even came out. This is probably the BOD's last attempt to attract new money to cram-down shareholders. Since the BOD waited until there was NO CASH LEFT, they have two bad choices: First, do a private raise and massively dilute the shareholders. Second: Admit failure as a weak Board and file for bankruptcy. Both will lead to lower prices for CLOK. The first option could place CLOK below ten cents per share and the second option will put CLOK under one penny per share. Option one is better than option two but both options are the result of an incompetent BOD's taking CipherLoc to its knees with a balance sheet that looks like a bankrupt company.
Many days late and many dollars short.
The recent Q is a strong indication that CLOK will be below a penny per share soon enough. That will assuredly happen if no one comes to the rescue to massively dilute the shares with new money in a private raise. If CLOK goes to zero, then spending millions in legal fees to buy back MDLG's worthless shares will look like a very "dumb" move as TronCarter suggests. It would have been much more intelligent to first see if the company had good technology that could be monetized into revenues and then go ahead spend millions to buy valuable shares vs. spending millions for invaluable shares like Tom Wilkinson did. The salt in the wound for us shareholders is the BOD actually rewarded MDLG with $400,000.00 for stealing from us shareholders. But maybe the plan of the BOD's was to give MDLG enough money to buy his company back in bankruptcy? That plan would make better sense of the "dumb" moves by the BOD's and also would explain why no conference call was ever given to us shareholders by the new CEO. What would Mr. Chasteen have said: "We are almost out of money after giving $400,000.00 to MDLG for stealing and giving $220,000 to Andrew Borene for failing and committing nearly $20,000.00 per month for an office space in Washington DC for several years. I will be the new and final CEO until we run 100% out of money and we watch MDLG buy his company back in bankruptcy. Thank you shareholders for you continuing support of me and the BOD."
TronCarter Friday, 02/26/21 10:04:17 PM
Re: CLOKtickticktick post# 22449: Make no mistake, Tom Wilkinson is to blame! I mean, seriously. Doesn't Wilkinson have a CPA? He can't be that dumb, right? So that means it must be intentional. Why? Incompetence? Self-destructive behavior? Does Wilkinson have a beef with Besser?
Message in reply to:
If we are all out of money with no options, one really has to ask why the board would spend the last of its cash to buy back shares from MDLG.
I'm new to this company and I buy stocks based on fundamentals and they look good here. I also noticed the stock today is doing a bullish chart pattern called a golden cross where the 50 dma ($3.23) crosses above the 200 dma ($3.22). I have read that this type of chart pattern often precedes a breakout to the upside.
.25 cents last price paid but .22 cents bid on CLOK. The lower the price goes then the more dilution for shareholders ahead and that's assuming anyone will ever give this company another penny (doubtful). The scary part is the stock can only fall .22 more from here. If the stock falls below ten cents per share, the company will likely file bankruptcy. But CipherLoc is already out of of cash based on the last quarter burn rate vs. the recently reported cash and all of this with the debilitating liabilities. Here's the sad reality for shareholders: the BOD has CipherLoc in a position of bankruptcy right now and it could happen at any time. Congrats to the new CEO and the worthless Board for putting the company in a weak position of having no money and two bad choices ahead: Massive dilution on a money raise or file for Bankruptcy.
I agree. Paulson Investment and the Manchester Fund need to ReOrg the company which starts with the shareholders coming together and getting rid of the entire Board. Giving these remaining Board of Directors more money would be insane, reckless and just plain dumb.
Since CipherLoc just reported the Q, we can see they are broke. They have 2 options: First, try to raise money. This will massively dilute all of us shareholders since the stock is in the toilet. The other problem is this: Who in their right mind would invest more money into a company with such a terrible track record of performance? The $17.20 million dollars from 30 months ago is gone and the Covid money is too based on their burn rate vs. cash as reported in Q. Why would investors give this worthless Board of Directors any more money to lose? It makes no sense.
The other option will result from the lack of success in raising new money (highly likely) and that is bankruptcy. The company right now is bankrupt, make no mistake about that. The liabilities are too great and the cash is all gone (bankrupt). Even if they had a big deal to announce, they have no cash to execute and mass dilution becomes the only possible option for survival. If this company had anything good to say, the CEO would have said it in his first 30 days as the new CEO. What can he say now? "Sorry but the 4 CEO's have all done their part mismanaging CipherLoc and we are finally out of money. We did our best but we will be filing bankruptcy today." And then the BOD will point fingers at MDLG but remember, there was almost $10 million in the bank account when Tom Wilkinson took over as Interim CEO and as COB. The BOD actually lost more of our money than MDLG. I'm sorry to tell you but this sad tale is finally coming to its end thanks mostly to MDLG, Carl Ranno, Joe Gangi, Dr. Carlson, Andrew Borene, and Tom Wilkinson.
Your post on the hoax may explain why the new CEO of our public company didn't do a conference call to shareholders. He felt the tech was a fraud and he was simply hired to take the company into bankruptcy once they ran out of cash. Looking at their cash vs. burn rate on recent Q, they appear to be on deaths door. Whether the tech works or it's a fraud is of no importance to us now as CipherLoc is broke with substantial short term and long term liabilities (bankrupt). Dr. Carlson will soon get to watch his dream technology go up in flames but MDLG has $400,000.00, thanks to the BOD, to buy the company back in bankruptcy and then MDLG can go put the bad news bears back together (Carlson, Gangi, and Ranno). Go team!
Hemaygoalltheway Wednesday, 02/24/21 02:30:02 PM
Re: clok-em-dead post# 22428 0
Post #
22437
of 22439
I can ask the same Question Back Where and what Product has it been implemented and Worked This is Biggest Hoax out There !!!! Hey I believed Like You For Six or Seven Years . But Man in this world Why hasn’t Any body Jumped on it We have Been told of so many Tests and Never any Results I hate To Say but it’s all Lies !!!!!!
To your point, Dr. Carlson and MDLG were frauds, that's a proven fact. Since there's been no announcement on testing results with DataPath, it's not a hard leap to believe the technology is a fraud too.
Does anyone think the Board of Directors followed their fiduciary responsibilities to us shareholders by paying off CEO's for CYA? Is paying $600k to these two crummy CEO's and leaving CipherLoc broke being a good board member looking out for us shareholders? Was approving a $18,000 per month lease for several years in DC for Borene and his team while the company had no revenues and was burning cash fast being a good fiduciary? Was spending millions in legal fee's just to pay a CEO $400k who was caught stealing millions from the company being an intelligent board member looking out for shareholders best interests? Was appointing a Hollywood actor as CEO a good Board decision? Was appointing a new CEO with no CEO experience and not communicating with us owners a good decision for the shareholders? Was leaving CipherLoc with zero cash now the result of a BOD we should be thankful to God ("with a capital G") for because they did such a heroic job for shareholders as the company is now left on the doorsteps to bankruptcy?
Yes, MDLG is the one saying thank God (with a capital G) to Tom: Thank God Tom Wilkinson is a fellow good ole boy Texan that was kind enough to pay me $400,000.00 after I stole millions from the unsuspecting shareholders and I even had my mechanic on the payroll. Thank you Tom for coming through for me after I put you on the Board! Oh, and thank you too Mr. Chasteen as you approved my $400k but I see you took care of your best actor buddy Andrew Borene with $200k in his pocket on the way out too. I'm sure Andrew isn't too upset since he made a similar $400,000.00 for 3 months of doing a lousy job as CEO. To SHAREHOLDERS: When you do first grade math on remaining cash vs. ongoing burn according to the recent Q it's clear CipherLoc is out of money and bankrupt with about two million in short term and long term liabilities. I'm sure no shareholder is thankful to God or thankful to Tom Wilkinson that the BOD spent millions in legal fee's and put $800k in these two lousy CEO's pockets, especially since CipherLoc is likely weeks or maybe days away or even minutes away from filing bankruptcy. Chasteen knew this was CipherLoc's destiny and that is why he never did a conference call to shareholders. They all did a lousy job of hiding their true agenda.
Thank God (capital G) the BOD gave Andrew Borene $220,000.00 for doing a lousy job as CEO! Thank God (capital G) for the BOD paying MDLG $400,000.00 and spending millions in legal fess for what appears to be worthless shares (see no cash left at clok and millions in ST & LT liabilities on balance sheet) in a worthless company (see income statement) led by a worthless management team (see 4 CEO's and new one won't even speak to the owners of the company). Thank God (capital G), the BOD approved an $18,000.00 per month multi-year DC office lease under the Borene regime! Thank God (capital G) the BOD has left us shareholders with no cash and a still $800,000.00 per quarter burn rate! Thank God for the BOD that our stock is .25 cents and the company is out of cash with big liabilities on the balance sheet (bankrupt company). Go ahead and thank God with a capital G that CipherLoc is broke and the stock is down 75% from the pipe deal at Paulson Investment. I'm happy your so thankful but you must not be a shareholder (maybe a BOD member?).
Regarding your post: Thank God (capital G) for this current group.
They announced testing with DataPath many months ago. How long could that take? They must have some results by now. Hey BOD, where are those results? They have 4 business days to report any material news (good or bad) regarding testing with DataPath. Where's the new CEO? Why isn't he speaking to shareholders? It must be because he has nothing good to say. The balance sheet and income statement show that is the case and it also shows CLOK is at risk at going to bankruptcy very soon. GET YOUR SHAREHOLDERS UPDATED CHASTEEN and NOW! Be a man. Be a real CEO and stop hiding from the owners of CLOK.
Yes Tron Carter! The BOD members are all in bed together. The first CEO was Tom Wilkinson and he came off of the BOD. He failed miserably, obviously. Next, Andrew Borene became CEO directly from the BOD obviously and he too failed miserably. Next, David Chasteen, Borene's actor buddy, became CEO and he too was off of the BOD! Why? To likely keep it all in the secret-family called the weak and pathetic BOD. It makes you wonder what dirty secrets they on the BOD all have that they all want to keep from us shareholders (dirty secrets)? My guess is the former BOD member Zeynep Young wanted to maintain her integrity and left this potentially criminal-board before we the shareholders figured out what is actually going on here which is to destroy CipherLoc and bury all of the skeletons in the closet forever. Maybe Tom W, a fellow Texas-man right along with MDLG Texan, gave MDLG enough money ($400k) to buy CLOK out of bankruptcy. Why would he do this? To transfer those skeletons and the hidden risks and their dirty secrets back to MDLG (smart but evil). Obviously $400k will be plenty to buy CipherLoc out of bankruptcy and if you have seen recent OTC stocks that have recently been bought out of bankruptcy, you will know this is true. This BOD are full of bad actors doing incredible harm to us shareholders and they all need to be held to account for their actions that are not in the best interest of us shareholders. Tom Wilkinson, you need to step down immediately! David Chasteen, have some integrity and step down immediately! Nick the CTO, you are David Chasteen's boss (see Tron Carter post) and you too need to step down immediately. And shareholders; let justice be done! Either this BOD needs to resign immediately or a class action suit needs to begin immediately!