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Recommend not internalizing comments like that. There's lots of ungrateful penny players who won't make an effort to learn. When burned, they'll attack everyone except those responsible.
That's the right attitude. Those who learn from bad experiences tend not to repeat them.
One the biggest lessons is never put anyone who raises red flags on ignore. If you immediately dismiss negative research when playing stocks, you're going to get burned over and over and over.
Depends on investor mood. Usually, the PPS drops. It's very much like a buyers' market in real estate.
Normally, MMs purchase your shares when there's no buyers and short or use inventory when there's no sellers. For greys, they can close out open short positions but can't make a market. It's matched trading only w/ buyers in the driver's seat. Like in real estate, when sellers' prices are too high for buyers' taste volume dries up.
The price doesn't have to drop, but sellers tend to get nervous and buyers tend to lowball.
Under Nevada law, investors holding 15% of the o/s either individually or as a group can send a demand letter to inspect the company's books. If the CEO claims the o/s is 700M and everyone reporting holdings so far has told the truth, you're well past the minimum 15%. This is an avenue open to try and find out the truth. Reporting investors though would need to be polled on whether they vote for approval in doing it.
Oh okay, thanks. Just doing some research.
Did you see this before? Ran across an old PR. Check out what the editor wrote in his comment. Guess he's been playing around for almost four years.
ST. GEORGE, Utah - April 10, 2003 - CyberKey today claimed it is the first company to develop technology designed to overcome the issues inherent with "bad memory" blocks found on Flash-based storage devices, such as USB drives. With CyberKey's new patent-pending Dynamic Block Management technology, content and applications stored to a CyberKey avoid the issues common with Flash-based memory devices of corrupted storage blocks, maintaining data integrity and preventing altered data files.
CyberKeys are USB storage devices commonly categorized as USB drives that can be connected to personal computers or other electronics devices with a USB port. Such CyberKeys are roughly the size of an adult's "pinky" finger, range in storage capacities from 16MB to 1GB of solid state flash memory, and are designed to provide users with simple and secure application functionality and data portability, making the CyberKey the world's most secure USB storage device
"Dynamic Block Management makes it possible for a CyberKey to automatically detect and 'map around' bad or marginal data storage blocks in its flash memory," said Jim Plant, president and chief executive officer of CyberKey. "With this technology in place, data is only written into a CyberKey's data storage blocks which are known to be good. As a result, the level of data integrity for the device is not compromised."
Although flash memory is generally known for its reliability, there can be areas of flash memory that will not function properly, even factory-fresh chips have known bad blocks. ...CyberKey profile
Editor's comments:- CyberKey's "first" claim is without merit. Lots of flash storage manufacturers deal with this problem in their own unique ways. For example Ofer Tsur Marketing Manager of the Solid State Disk Business Unit at M-Systems commented "This problem of bad blocks was solved a decade ago both by M-Systems and other companies. M-Systems have been doing this for almost a decade with its patented TrueFFS (True flash Flike System)."
http://www.storagesearch.com/news2003-apr2.html
Thanks, that's a good example.
No dude, I'm laughing at your behavior. NSS diehards especially those w/ religious sigs always act the same way.
I don't like to see investors caught in suspensions. For diehards, I have zero sympathy. You received justice here for all past and future harm caused on others.
Too funny. Just as I expected. Guys like you always act the same way. Never fails.
The SEC doesn't place companies on SHO. Why don't you read up on the program and learn how it really works.
No, Cyberkey can't stop it. When this resumes, it'll be matched trading. You won't see a bid/ask just time and sales. It's possible there may be a delay initially while investors try to figure out what price to place orders.
They could. Some exchange listed companies have done this after discovering accounting errors. They warn the public not to depend on certain financial information until they can restate that period.
This won't save CKYS from going grey. After suspension, among other info the MM will need accurate financials from the company. Since the SEC questioned this particular area, they'll probably want audited ones.
Their PRs dropped some pretty big names and you blindly believed them. If you do some research like I did, you'll quickly see this one is just packaged air.
Why do the insiders not file their share ownership with the SEC?
I hear people say JP has like 400 million shares. I can't find any SEC filings on this. Aren't all corporate officers supposed to dislcose to the SEC their holdings and all transactions?
It's required only for securities which have been registered under Section 12 of the Securities Exchange Act of 1934. CKYS' stock is not. Until a company hits a certain threshold level for assets and number of holders, registering their securities (and reporting insider transactions) w/ the feds is optional.
Thanks iceman. Maybe Robtff is looking at cached pages.
Aaaah...I knew there had to be logical reason. Thanks. LOLOL
Can you check out DoD's emall? Unless the site is acting weird, it appears CKYS' products have disappeared from there.
https://emall6.prod.dodonline.net/main/
There's more than one case, but there isn't very many. Without a doubt, CKYS will come back grey.
I'm not surprised the audit is suddenly nowhere close to being done. Whoever does this is going to be placing his license on the line and better do a proper audit.
Janice and your PM'er are incorrect. A few have come back from suspension as an unsolicited pinkie. U.S. Canadian Minerals (USCA) is a real-life example where this happened. At the time, they had up-to-date financials filed w/ the SEC, and the suspension reason was not questioning their accuracy. CKYS though will return as a grey.
The SEC doesn't suspend trading on most stocks it investigates. CKYS is far from unique in releasing allegedly misleading information and financials. IMO the tipping point for suspension on this one was probably those who sent in complaints about NSS, bashers, and other non-issues. When the number of complaints reaches a certain level, they grab attention. Diehards embrace wacky theories, and many use very abusive language. After being bothered by these types on different OTC stocks, I think the SEC has a low tolerance for them. Add to this a company paying pump outfits and forum mods stifling those w/ opposing viewpoints. There could be some other hidden factors like insiders not cooperating.
Guys like iceman who report problems w/ specific details help an attorney build his case. Unless the issue raised is health related, a public threat, or some sort of market meltdown, it's very tough for DD'ers alone to get the feds to move at a reasonable speed. Since the SEC employs a small army of accountants, IMO the best complaints to send are ones pointing out questionable areas in a company's financials. Even on these don't expect a suspension or timely reaction w/o the environment already being primed.
Be honest, this one is packaged air. The price could temporarily rise w/ pumper assistance if the mad dumper would take a break.
Does any have any more info about Alpha Data. All I see on the web is that it's a small minority-owned services company.
D&B lists annual revs as $12.6M but can't tell how old the info is here.
http://fedgov.dnb.com/webform/viewCompanyDetails.do?hdncompanynumber=1&browser=&hdnCompanyNa...
Current D&B report would probably have it. Why not call and ask ADC what their relationship is w/ CKYS and whether they have a DHS contract.
To pocket profit, a shorter needs to buy to close his position. Conspiracy stories make great reading, but they don't reflect reality. The SEC checks out info and doesn't fall for propaganda. Cases are handled mostly by attorneys and accountants who tend to be skeptics.
Once you learn to stop growing emotionally attached to stocks and waving the NSS flag around, you'll become a much better trader.
It's an indication of dilution. Shorters don't make money when the price stays flat as in your example here.
Dude, she's gonna kick your butt. Odds are zero you'll turn $10K into a $1M on this one.
Your welcome. :o) It appears Plant doesn't live in Utah or has been using an assumed name. These days, it's kinda hard not to be picked up in some sort of database like credit, phone book, government, etc. I haven't found any Jim or James Plant in Utah so far. Check out how the UCC database listed him: https://secure.utah.gov/uccsearch/uccs (search on Cyberkey) There are guys w/ the same name living in other states though.
Where are you seeing this info released again?
Normally, they do a notification release, suspension order, and an entry in their daily news digest on the same day. Sometimes the info is published in the news digest the next day.
Re: Joel Krautheim....
SPG Inc
PRINCIPAL ADDRESS
1150 COLLINS AVE #501 => condo
MIAMI BEACH FL 33139
http://www.sunbiz.org/scripts/cordet.exe?a1=DETFIL&n1=P95000029051&n2=OFFFWD&n3=0000&...
Tigerscape Inc http://www.tigerscape.com/
PRINCIPAL ADDRESS
400 ALTON ROAD #1106 => condo
MIAMI BEACH FL 33139
http://www.sunbiz.org/scripts/cordet.exe?a1=DETFIL&n1=P99000041948&n2=OFFFWD&n3=0000&...
Thunderbeast Inc http://www.thunderbeast.com/
PRINCIPAL ADDRESS
400 ALTON ROAD #1106 => condo
MIAMI BEACH FL 33139
http://www.sunbiz.org/scripts/cordet.exe?a1=DETFIL&n1=P06000099075&n2=OFFFWD&n3=0000&...
County property records: http://www.miamidade.gov/pa/property_search.asp
Yes, he did. That post was made in Jan 2006. The ticker changed from CKYC to CKYS in Apr 2006.
If they did, it would show up as an entry in EDGAR. Last one was in 2005.
http://sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001339695&owner=include&count...
http://sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001225696&owner=include&count...
Fair enough. lol /eom/
Heaton's calling card company? Yes
Who is Sally? Flinders. She's listed as the Secretary. She's married to Stanley who is/was the VP of Corporate Development
I like to watch certain market scenarios like suspensions to see how they turn out. It helps me learn so I can avoid getting caught in bad situations when trading stocks.
As for the company, I've done a little research and picked up some tidbits. Appears these guys are basically a reseller. I've found the same products offered elsewhere at the same or lower prices. I think the DHS IT contract is questionable. The federal awards database doesn't list this company or any IT contract of the size claimed. They aren't a DHS EAGLE IT contractor. The financials on pinksheets are inaccurate. CKYS moved into Heaton's old company's address. He and Sally are neighbors. Her husband's background is different than what the company claimed. She and he have had financial problems. Stuff like that and more I've picked up in the past couple days. I'm more interested in seeing how the suspension goes.
If you think that will happen in a few weeks or less, you're going to be very disappointed.
I wasn't haggling over semantics. What you claimed he said on suspensions was dead wrong. A broker should know the SEC has rarely issued a second suspension let alone mislead you into thinking an existing one could be extended.
Let me put it this way. If the SEC didn't think there was a big problem here, they wouldn't have suspended trading. They could have easily worked out all their concerns directly w/ the company in private.
It can take days or less if the company has up-to-date financials filed w/ the SEC. I don't remember any other non-reporting companies doing it quickly.
Most brokers are clueless about OTC stocks.
An MM may want to quote a stock because they can make money. The real issue though is getting the Form 211 approved by NASD's OTC Compliance Unit. The OSU doesn't rubber stamp these particularly after a suspension. NASD won't be happy if an MM doesn't fully comply w/ the regs before submitting this form. Information accuracy trumps over greed and want here.
Your broker also doesn't seem to know the SEC cannot extend a suspension. They can issue a new one for a different reason but cannot extend the current. Several years ago, the SEC was sued and lost in court over this very issue.
I said "can" right here: The process can take quite awhile like in months or years.
If you expect this to be over in a couple days to a couple weeks, you're going to be very disappointed. Do you think an MM will submit a Form 211 w/o audited financials considering the reason for suspension? I don't. That alone will eat up time.
Um, what part of my post do you think is wrong?