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10-Q is due by Monday. Otherwise, Pink Sheets.
https://www.investopedia.com/terms/s/sec-form-12b-25.asp
SEC Form 12b-25
REVIEWED BY WILL KENTON Updated May 8, 2018
What is SEC Form 12b-25
SEC Form 12b-25 is a filing with the Securities and Exchange Commission (SEC), also known as the Notification of Late Filing. It is used when a company anticipates that other key filings will not be completed by their deadlines. By filing Form 12b-25 in a timely manner, a company may avoid further penalties associated with failing to file various required forms. Included on the form is a description of why the late filing is taking place and whether or not the company expects any major surprises compared to its prior year's filing of the required form.
BREAKING DOWN SEC Form 12b-25
The SEC Form 12b-25 is usually considered a red flag for investors, indicating that a company may be experiencing some form of difficulty. It could indicate a range of issues from the inability to manage basic tasks to the possibility that the filing company is experiencing major financial trouble. Since SEC Form 12b-25 requires companies to indicate whether or not any major changes from the prior year's report are expected, it is crucial that investors review this filing as soon as they become aware of it.
How SEC Form 12b-25 is Used
SEC Form 12b-25 is used to report a late filing of several regularly filed SEC Forms including 10-K, and 10-Q, as well as for transition reports. When filing the Notification of Late Filing, the registered firm must provide details including whether “all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months” or for a shorter period have been filed as required. The filing of SEC Form 12b-25 provides an extension of 5 or 15 calendar days depending on the related form.
The filer is also required to report if it is “anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report.” If so, the filer is required to attach “an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.”
The SEC Form 12b-25 must be signed by an executive officer of the registrant or by any other duly authorized representative, and is typically filed electronically using the SEC’s EDGAR system.
Seriously? That's not even plausible.
MDLG is not one to be trusted. The new CFO is missing in action.
Thank you, Eric Marquez, for your time as CFO of CLOK! We miss you dearly!!
MDLG's conference call will be a lawsuit exhibit.
I'm very glad he made some of the statements in the conference call yesterday. He is putting nails in his own coffin. Love it.
#stopputtingsomuchlipstickonthispigMDLG
MDLG hasn't delivered for CLOK, NSCT, CloudMD, anything/anyone!!
The issue is not about whether an investor can "afford" to wait.
MDLG's history of non-performance is the issue.
A lot of investors chose to invest into CLOK for the wrong reasons. It seems that they were mislead. They believed that MDLG would have already delivered something by now, not deliver excuse after excuse after excuse for not delivering anything and always dangling the carrot out and telling people, "we're almost there, we're almost there, just give me more time and money, and we'll all be rich!"
What does MDLG have to gain by doing the conference call (CC)? Well, he gets a few more months of his outrageous salary, feeding his gluttonous self by continuing to abuse the corporate credit card, and wasting investor dollars by flying around the country to "play CEO". He's a joke, a fraud, a con man.
With respect to raising more dollars, MDLG would do it in a heartbeat. So, yeah, MDLG will continue to take money from naive investors and put as much money in his pocket as he thinks he can get away with. That's all he knows how to do.
#theresnoshameincashingoutnow
Message in reply to'CLOKtickticktick':
What stood out to me on the conference call is that MDLG is finally about to deliver and he is more confident than ever. The snowball is rolling already NOW!!!
I don't know about you but I can afford to wait 30/60/90 days to see if MDLG's CC forecasts carry any water. I believe in the product. If I am wrong, then I chose poorly. But I think I am right and really, what's another 88 1/2 days for me to find out?
Think about it!!! What would MDLG possibly have to gain by dping this CC and hanging his hat on delivering so many near term '30/60/90' results??? It's not as if we are in the middle of a PPO and he is trying to raise more capital; it has already been gathered in the form of $17M and there is no current PPO to sell. Tje reality is likely that we won't see any more PPO's because we are past that stage and sales are starting to roll in.
#AmericanGreed???WeAreAllGreedy,JustFaceIt
#AnyonePostongHereStillHasStockOrWishesTheyDid
Not if you add on MDLG's entire tenure...
MDLG has made false claims and excuses for years. YEARS! And in the meantime, he's taken millions of dollars in cash, used the corporate accounts like they were his own, and issued himself millions of shares of stock and made broken promises to dozens of people.
#thisweekonamericangreedthecipherlocdelagarzastory
#compulsiveliarmeetsnaiveinvestors
Message in reply to 'CLOKtickticktick':
30/60/90...??? I know we are long past the fast food generation but 30/60/90 is still is a very short period of time! In his current position, do you really think MDLG is so desperate? Think about it. Why would he hang himself with such a short timeline? What does he have to gain in the next 90 days if he doesn't deliver??? Do you think he has some grand getaway plan? Really?
I see progress and we will all know more very soon... Soon as in 30/60/90...
I'm sure willing to wait for three more months. Why could anyone be stupid enough to bail now?
#AmericanGreedMakesInvestorsParanoid
#WhyInvestInStartupsUnlessYouAreNotGreedyToo?
Newly appointed CFO didn't submit the extension request.
So, it appears that the newly appointed CFO, James Sullivan, chose NOT to sign the NT 10-Q.
Interesting.
MDLG provided NO TRANSPARENCY! NONE.
MDLG just rambled ad nauseam for awhile and touched on raised topics, but repeated old responses without any substance. Much of what he said didn’t make any sense.
Listen to the call and write down how many “potential” items are 30/60/90 days out. MDLG is just picking dates out of the air. It’s the same thing he’s done in past videos.
This conference call wasn’t not even close to being fully or partially transparent.
#urtrippin
#thisshithappenseverydayonamericangreed
Let's see if MDLG passes a background check.
Nobody knows if either will get approved.
MDLG is a pathological liar.
Today's conference call will likely be a future exhibit in a lawsuit.
You got lip service from MDLG.
#hetonguedyouandtoldyouwhatyouwantedtohear
Seriously. Why would anyone believe MDLG?
CLOK stock price sucks.
No sales.
No dividends.
No reassurance that things will change.
MDLG has pissed away about $15+ million as CEO, the majority of which went into his pocket.
CLOK$ investors would be better off with an OG pimp as their CEO. At least they'd get to ride in his Cadillac every now and then.
And then MDLG has the audacity to participate in a shareholder conference call today and regurgitate the same ol' bs that he sold investors last year! Really? Does he think investors are that stupid??
Fool me once....
Poor Al. That was your chance to speak up! Now you're culpable, my friend!
#cantwaittoseethereplayonamericangreed
How about the fact that there's $0 revenue?
Or look at DataPath's news page on their website and they're doing business with everyone EXCEPT Cipherloc!
#ffsueffinidiot
Let's contact DataPath and see what they think!
If DataPath is willing to "sign off" on today's MDLG's claims, then I'll shut up and move on. If they don't, well, you people better cash out as quickly as you can.
#datapathisrealmdlgisfake
CLOK on Nasdaq or NYSE. Why? Only 1 reason.
So that MDLG can steal more money from investors.
#hello.SEC,isitmdlgyourelookingfor?
$0 revenue. Money flying out of CLOK accounts.
Compare today's conference call to any of his videos. Do you see the pattern of lies?
Today was full on delay of game desperation. I mean, did MDLG really mention Hippogriff today? It was continuous MDLG diarrhea. He doesn't know the truth from reality, customers from non-customers, white papers from web pages, press releases from fake news, and, most importantly, he doesn't see a difference in the CLOK bank account and his personal bank account.
Where's the Q?
#wheresthebeef?
Only takeaway from CLOK$ conference call...Nothing.
MDLG mentioned $75k software licensing fee for 4 YEARS sold to SoundFi. Where's the 8-K?
GoSecured prompted the release of an 8-K for a $10k "contract", even though they never paid a $0.01 (one penny) towards the $10k and never used CLOK.
There was also no mention of this $75k in a press release; MDLG posts a press release almost as often as he wipes his a**; why no mention of this alleged "revenue" until today??
So, for those who missed the call, MDLG stated that they're doing stuff that they can't really tell you about, have white papers that aren't white papers, have non-paying customers, shipped $1.6 million to Ageos to help them out with working capital (very interesting slip-up by MDLG!) and no mention of the status of James Sullivan.
Al talked a lot about "what-if scenarios" and blew a bunch of hot air around, but never really said anything.
#whatdoyouthinkbesser?
NSCT had approx 870s/h, CLOK approx 1190s/h today
Stock history:
2009-12 870 shareholders, 1,700,000 approximate shares o/s (adjusted for 100:1 reverse stock split)
2013 902 shareholders, 2,150,000 """ (adjusted)
2014 916 shareholders, 2,830,000 """(adjusted)
2015 943 shareholders, 2,960,000 """ * sold PPM @ $2/sh
2016 963 shareholders, 5,900,000 """ * sold PPM @ $2/sh
2017 977 shareholders, 7,000,000 """ * sold PPM @ $2/sh
2018 1,189 shareholders, 40,800,000 """ * sold PPM @ $1/sh + warrants
Interesting facts:
PPM @ $2/sh raised about $6 million, net of fees
There were no more than 60 PPM participants @ $2/sh
PPM @ $1/sh raised about $16 million, net of fees
There were no more than 200 PPM participants @ $1/sh
Approx. 20-30 shareholders were employees, consultants, sales and marketing people, other
There was only $227,000 cash left as of 9/30/17 10-K (almost all $6 mil of $2 PPM was burned by MDLG, the biggest amount going into his pocket!)
There was $14 million left as stated in 9/30/18 10-K
$13 million cash remained, as stated in 12/31/18 10-Q
With a commitment of $1.6 mil to Aegos, LLC, expanded sales & marketing "efforts" and $1 mil / quarter burn, I would estimate the available cash balance for operations as of 3/31/19 to be $10 million or less.
Conclusion:
The long-time (NSCT) shareholders who still own CLOK stock don't really have any incentive to sell. By now, the stock is extremely speculative.
The $2/share PPM shareholders have already seen their money pissed away by MDLG. Now they are watching MDLG piss away the $1/share PPM shareholder money. Any still holding $2 PPM shares is willing to allow MDLG to do anything with their money, and has no expectations for CLOK to make a sale and be a sustainable, profitable company.
The $1/share PPM shareholders are looking at about 50% or more of the original $20 million PPM dollars raised pissed away.
When the 3/30/19 10-Q comes out, I would head straight to the balance sheet and look at how much cash is left in the bank account(s), and then reduce that number by the $1.6 million committed to Aegos, reduce it by MDLG's compensation and everyone else's compensation, and then take a minute and see the writing on the wall.
#itswritteninblackandwhiteandmdlgisholdingthepen
Today's CEO insight history lesson: MDLG y familia
Michael de la Garza has bragged about being in the healthcare industry, owning and managing hospitals. So why did he stop referencing his time with Renaissance Healthcare Systems? Hmmm....
Article 1 mentioning Michael de la Garza and Renaissance Healthcare Systems:
https://www.houstonpress.com/news/snitch-vs-snitch-6570792
Article 2 about Renaissance Healthcare Systems and Michael de la Garza's brother:
https://interactives.dallasnews.com/2016/hospital-wreckers/part2.html
Interview with Michael de la Garza discussing his personal background:
Go to 3:30 and MDLG discusses his time with Renaissance Healthcare Systems. He also goes on to say that they "went to the cloud in 2003".
Really? Who, where, how? More BS from MDLG.
At 1:50 into this video, Michael de la Garza states that the "federal government is using our technology now". This video was posted October 2018. What was de la Garza referring to by making this statement?
De la Garza also states that "the company is doing excellent". I would love to understand that definition of excellent.
Post is from 1/25/12. 7 years ago!
Same MDLG BS, different day!
kingfishers Member Level Wednesday, 01/25/12 06:49:51 PM
Re: snowblanket post# 3020
Post # 3021 of 18093
Snow!
Good to hear from you! You're welcome to what little I have done. We old timers in NSCT have learned a lot of hard lessons, haven't we? Consequently, I guess, at this point, I want facts about the "new" NSCT more so than people's opinions. So I keep digging.
And frankly it does not seem that there are a lot of facts regarding the impending "new" business or its founder.
Yes, we know that (1)it is a medical practice management system that includes a number of functions and services that are designed to (2)increase the bottom line, as well as the (3)quality of practice, for the docs and staff. And there may be an opportunity for the medical practice owners to participate in the (4)stock ownership of NSC by subscribing to the service. And it appears that there might be a reduction in the medical and office supply expenses of the participating practices because of (5)coordinated and cooperative buying of the supplies. And by it being a (6)"cloud-based" technology, it is cheaper, easier, and quicker to maintain and update.
But all of the above is gleaned from what we can find regarding their proposed operations plan. But we know little about the marketing and sales plan, which without it, the operations plan will be unnecessary. We know little about company finances in regards to what is necessary to successfully launch whatever the marketing plan is. Without some solid company finances, the marketing plan is pretty difficult to implement. The $3.5MM sounds good, I guess, but we really do not know what it is to be used for and how long it will last. Is it really sufficient for a successful launch, or does more cash need to be raised, and how much?
And actually we do not really know a lot about Michael William DeLaGarza...the kind of knowledge about him that lets us have some fact-based judgement as to his professional qualifications to aggressively and successfully launch a public company.
I say all this not to be critical of Mr.DeLaGarza or of what he has made public so far. As has been posted here before, it is probably important that he control how much info is released. But as investors, we will need more fact-based information before we, especially those of us that, collectively, may have lost millions of dollars over the last decade or so investing in NSCT, start buying more shares in this venture, no matter how cheap the shares may appear.
So for the time being, since the company is not fully formed nor functional, it seems like all I can do is look for past facts...anything I can find about Mr. DeLaGarza, personally, professionally, legally, financially.
However, I figure there will be quite a bit of public info released in the near future. This is an interesting situation, and I wish Mr. DeLaGarza the very best.
And closing this overly lengthy post, I will throw out a question: does anyone know whether or not Mr. DeLaGarza is going to keep NSC headquartered in AZ or is going to move it to the Las Vegas area? He and his wife, have their family home in Henderson, NV, and it appears that the payments and taxes are up to date and it is not listed for sale.
kingfisher
Another example of history repeating itself!
Read below, and keep in mind that MDLG's Driftwood, Texas house sale is currently pending, his daughter is going to ASU, and he is moving to where? Arizona. smh...
Message in reply to 'kingfishers':
Snow!
Good to hear from you! You're welcome to what little I have done. We old timers in NSCT have learned a lot of hard lessons, haven't we? Consequently, I guess, at this point, I want facts about the "new" NSCT more so than people's opinions. So I keep digging.
And frankly it does not seem that there are a lot of facts regarding the impending "new" business or its founder.
Yes, we know that (1)it is a medical practice management system that includes a number of functions and services that are designed to (2)increase the bottom line, as well as the (3)quality of practice, for the docs and staff. And there may be an opportunity for the medical practice owners to participate in the (4)stock ownership of NSC by subscribing to the service. And it appears that there might be a reduction in the medical and office supply expenses of the participating practices because of (5)coordinated and cooperative buying of the supplies. And by it being a (6)"cloud-based" technology, it is cheaper, easier, and quicker to maintain and update.
But all of the above is gleaned from what we can find regarding their proposed operations plan. But we know little about the marketing and sales plan, which without it, the operations plan will be unnecessary. We know little about company finances in regards to what is necessary to successfully launch whatever the marketing plan is. Without some solid company finances, the marketing plan is pretty difficult to implement. The $3.5MM sounds good, I guess, but we really do not know what it is to be used for and how long it will last. Is it really sufficient for a successful launch, or does more cash need to be raised, and how much?
And actually we do not really know a lot about Michael William DeLaGarza...the kind of knowledge about him that lets us have some fact-based judgement as to his professional qualifications to aggressively and successfully launch a public company.
I say all this not to be critical of Mr.DeLaGarza or of what he has made public so far. As has been posted here before, it is probably important that he control how much info is released. But as investors, we will need more fact-based information before we, especially those of us that, collectively, may have lost millions of dollars over the last decade or so investing in NSCT, start buying more shares in this venture, no matter how cheap the shares may appear.
So for the time being, since the company is not fully formed nor functional, it seems like all I can do is look for past facts...anything I can find about Mr. DeLaGarza, personally, professionally, legally, financially.
However, I figure there will be quite a bit of public info released in the near future. This is an interesting situation, and I wish Mr. DeLaGarza the very best.
And closing this overly lengthy post, I will throw out a question: does anyone know whether or not Mr. DeLaGarza is going to keep NSC headquartered in AZ or is going to move it to the Las Vegas area? He and his wife, have their family home in Henderson, NV, and it appears that the payments and taxes are up to date and it is not listed for sale.
kingfisher
MDLG claimed Fortune-5 companies. Pathological liar!!
The next two parts of the video series are more of the same; lies and innuendoes.
Bernie Madoff would be the most appropriate Chairman for CLOK$, as he’s obviously been de la garza’s mentor!
12/7/2015 MDLG claims that have not panned out.
https://www.youtube.com/watch?v=kYUKRJjGxxw
Here's a great example of the history of CLOK since December 2015 and MDLG's long history of tall tales. It seems as if history is repeating itself with the new claims of a "shadow ceo" and suggestions of a "new company" with possibly 1,000 employees that is bigger than big...however, nothing can be disclosed to the public or is believable (from what is reported in the most recent financials, website, and current and past employees and contractors).
Not only do these new claims contradict SEC rules and regulations, but they also lack credibility. Let's review past "radio shows" by Michael de la Garza.
And feel free to fast forward thru MDLG's vomit talk in the beginning and stop at 7:05 when MDLG says he "...found a company in Idaho that had developed in concert with 2 universities...graduate projects." I'll follow-up on this claim with other MDLG videos.
8:00 MDLG attempts to define Cipherloc.
12:43 MDLG states that CLOK has "3 customers right now..." date of video is Dec 2015
MDLG describes the 3 customers as,
1) data center in southern California (?who is this?); CLOK will install hardware at site and do a 90-day proof of concept
2) Florida company with multiple govt contracts, port authorities, cruise ship (this is believed to be an agreeent with Anthony Zagami and SISCO, see 7/30/15 8-K)
3) "location that we're looking at..." bank, international bank and data center in NYC. MDLG mentions that the bank wants to see 2 proof of concepts before moving forward. (this is believed to be a Bank of Santandar reference). MDLG claims "domino effect (will occur) after bank (signs on)"
18:40 MDLG claims that CLOK is "developing an SSL program to replace existing SSL." "We broke it (SSL)"..."We're building one, release 2nd Quarter of 2016."
19:25 MDLG claims that they will move technology to a microchip
19:50 MDLG claims that CLOK is working with a company in Texas on a product to be used in cell phones...encrypt at the firmware level. (?CenturyTel reference??)
22:40 MDLG states that there are 3,000 opportunities to sell (in Central Texas)
23:00 MDLG states that the company is going after 4 verticals and has 4 resellers; a tech company in the midwest, 2 tech companies in Florida, and a data center in southern California
MDLG goes on to say that in 12-24 months the company will get "quite a bit of sales"
25:00 MDLG states that "our products are ready to go to market"
26:10 MDLG states that "we are through with our development. We are writing customer interface, and already engaged with a number of different companies."
See video: https://www.youtube.com/watch?v=kYUKRJjGxxw
No benefit to holding stock. Only unnecessary exposure.
There is no benefit to holding CLOK stock. You are not missing out on anything by selling, unless a $6.95 sell fee is material to your personal situation.
The way this stock trades, anyone can buy this stock back at anytime.
There are no good reasons to hold this stock...
Good luck to all!!
I feel sorry for the remaining CLOK shareholders.
#wowputthecrackpipedown
Message in reply to:
It will take the shadow ceo.
MDLG's mouth. Former/Broker-Dealer Michael Spencer. Deceived investors.
Appreciate the follow-up!
The "shadow" CEO may be Jimmy Packes, doing business as J & M Solutions, LLC. He's been working under a consulting agreement since January 2, 2015.
It seems that this "consulting agreement" may have evolved into a mechanism for the transfer of CLOK money directed solely by de la Garza to Packes for reasons not related to the original "consulting agreement".
This issue is likely one of the items under investigation.
CLOK History Lesson. Smoke and mirrors, lies, deception.
Here is a very short history of "potential clients" and "alluded to revenue streams" and other lies from MDLG to cronies to investors that never panned out:
GE
Bank of Santandar
Credit Card Company (this was supposed to generate $150mil by year 2!)
Port Authority in Florida
Chicago Stock Exchange
Data processing company in California
$40 million grant from "Private Platform Trading" scam
Arizona insurance company
GoSecured
CenturyTel
DataPath
Air Force
US Government
Entire US Military
Uplisting to NASDAQ
Going private
Anyone else have MDLG CLOK "stories" to share?
BOD Sammy Davis is obviously a "Yes" man
BOD Carlson is also a "Yes" man.
Former BOD Marquez started to question and vote "No" to MDLG's requests, and, soon after, resigned.
Just email MDLG. He can’t truthfully deny it.
I’m sure you could also ask Carlson, Salas, Hufnagel, Marquez, Doherty. Oh, and Michael Spencer too!
And ask Mattox if he believes all of de la Garza’s rhetoric.
MDLG is not a leader.
MDLG doesn’t work. Ask anyone that’s worked at CLOK.
And new CFO James Sullivan would be a complete fool to sign off on de la Garza.
de la Garza’s known by many to be a pathological liar.
Rewatching any of de la Garza’s CLOK$ will prove my point.
#youvebeenhadbymdlg
Ask MDLG. He's told several people at CLOK.
He was cuffed in the front lawn of his old lady's house.
That's just MDLG.
The only fake news is about CLOK sales.
The ship (and Eric) has sailed.
MDLG is draining the bank account(s).
Smart PPM Investor’s better hustle to cash out and minimize damage.
#jimmycrackcornandIdontcare
#clokhastoomanyarmchairceowannabes
MDLG pulled a gun on ex-wife's lover.
Former CFO Marquez is an outstanding citizen. I know he donates to various charities and is a very good person. He's very professional and charismatic.
Current and missing in "action" CEO de la Garza has had various beefs with the law. Is he in hiding?
#doubledownnonsense
World class/cyber visionary. Knows everything. Will travel.
Interesting.
#cocaineisapowerfuldrug
#imrickjames
Message in reply to 'sammy lake' post:
I am a world class/cyber visionary, management expert and visionary technologists that is
Un-matched.
I can go places and see what others can’t see.
I know everything that is going on.
Ridiculous. Silly. Nonsensical. Delusional. Crazy. Contact the SEC!
I'm almost speechless. This is some ridiculous doomsday diarrhea. 100% compromised? Not even close. Here's why:
-Planes would be grounded (commercial, govt, military)
-Markets would be closed
-Financial indicators would have already provided support to this 100% compromised state
-Internet activity would probably be halted or unstable
-A national emergency would have been declared
-This would have been on every news station
...and yet, somehow, for some crazy reason, companies like DataPath and other defense contractors are securing and performing on legitimate government contracts that are PUBLIC INFORMATION and leaps and bounds beyond what CLOk will ever be capable of doing.
#turnoffgameofthronesandlayofftheweed
Message in reply to:
Do you want to see who I am? Class has started. Follow me. The hardware that runs all aspects of our government including the military (big piece of commerce - entire U.S. Gov) is 100% compromised. All data "even from out most secure locations" is systematically transferred to places that should not have that data.
The software that runs all aspects of our government including the military (big piece of commerce - entire U.S. Gov) is 100% compromised. All data "even from our most secure locations" is systematically transferred to places that should not see that data.
All hardware & software that runs 100% of non government commerce (think corporate America and wall street) has been 100% compromised by less then ethical entities.
Can the 7 layers of the OSI stack, specifically layers 3 through 7 be eliminated? Would that help? Has the order been given to pull out ALL HARDWARE AND SOFTWARE in the United States and replaced with something else? Yes.
Are there large groups of professionals working behind the scenes to take this initiative on? Yes.
Are all known "off the shelf cyber tools" ineffective? Yes.
Is Clok (regardless of what people may think about management) an extremely effective solution? Yes.
With a massive initiative of this size some of the furniture in the room has to be moved around. Things are moving fast.
More to follow.
This “agreement” is awful and doesn’t make sense.
“Said expenses will be returned to the Company from the revenues generated by sales...”
“The Operator will remit to the Company from sales proceeds the percentage of revenues received to meet their specific obligation”
“...the Company is taking the business risk and will receive the profits from sales only.”
So which one is it??
Seems like a judge or a common man in a jury would conclude that MDLG just committed $1.6 million a year for up to 3 years and the Operator “can determine” if and when it will pay back $$’s to Company with future “profits”.
Hmmm.....
Intentional? Probably! Who's been in control? MDLG!
There is no arguing with the facts. The facts speak for themselves. CLOK stock price is almost 1/10 of what it was 5 years ago. Look at CLOK's chart and the stock price is headed down...way down.
How did CLOK raise $18-20 million? Well, I suppose that investors were told things that enticed them to buy shares of CLOK.
Did CLOK pay to raise $18-20 million? Yes, CLOK paid millions!!
What is the current cash balance for CLOK? My guess is close to $13 million, with over $2 million pledged for leases, agreements, and future prepaids.
CLOK does not seem to have a profit motive.
CLOK is being run like a shell company.
MDLG knows about personal bankruptcy, high interest loans, making REALLY BAD deals with contractors, being sued (in multiple states), paying out millions in legal settlements, violating SEC rules, and does not have any experience as being a successful CEO.
6/27/14 CLOK Stock was $8.00. Today, .89 cents.
Main points:
CLOK has had $0 Sales for 5 years!
CLOK has had no paying contracts for CLOK technology. There are 0 (zero) use cases
CLOK has not convinced any companies to pay them $1 dollar for their product
CLOK's Board serves MDLG, not the shareholders
CLOK and MDLG have been sued and had to pay out over $1 million in lawsuit settlements
MDLG has taken millions in cash from investors. Add in stock comp and it increases to more than $15 million.
During the same time, NASDAQ has doubled....$4,000 to $8,000.
CLOK competitors have made billions of dollars
CLOK's industry has attracted billions of dollars
Any CLOK shareholder could have made a solid return by moving their money from CLOK to many alternatives.
An educated investor would consider opportunity costs and investment alternatives.
#afoolandhismoneyaresoonparted
Answer: "Nothin' from nothin' leaves nothin'...
#2livecreweatingpopcornandwatchingthissh*tshowcalledclok
Message in reply to:
Question for MDLG - $1.6M fee for Joe Gangi?
Question for MDLG; what has Joe Gangi and his Cipher Team delivered since 10-10-18 to deserve an additional 1.6 million fee?