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Bird, not true. This post by mordicai sites Nevada law. A group of shareholders holding 15% of the O/S which according to Plant is 105 million shares can force him to produce purchase orders, bank accounts, share structure, etc upon 5 days notice. If this drags out and we don't see audited financials this will most likely occur IMO/
Posted by: mordicai
In reply to: None Date:2/7/2007 6:23:51 PM
Post #of 404
Nevada Law. If you can muster 15% from the holdings on this board, you could demand that the purchase order and related documents, and bank deposits , etc. be produced for inspection, instead of taking the chance that this thing drags on and on.
NRS 78.257 Right of stockholders to inspect, copy and audit financial records; exceptions; civil and criminal liability; penalty.
1. Any person who has been a stockholder of record of any corporation and owns not less than 15 percent of all of the issued and outstanding shares of the stock of such corporation or has been authorized in writing by the holders of at least 15 percent of all its issued and outstanding shares, upon at least 5 days’ written demand, is entitled to inspect in person or by agent or attorney, during normal business hours, the books of account and all financial records of the corporation, to make copies of records, and to conduct an audit of such records. Holders of voting trust certificates representing 15 percent of the issued and outstanding shares of the corporation are regarded as stockholders for the purpose of this subsection. The right of stockholders to inspect the corporate records may not be limited in the articles or bylaws of any corporation.
2. All costs for making copies of records or conducting an audit must be borne by the person exercising his rights set forth in subsection 1.
3. The rights authorized by subsection 1 may be denied to any stockholder upon his refusal to furnish the corporation an affidavit that such inspection, copies or audit is not desired for any purpose not related to his interest in the corporation as a stockholder. Any stockholder or other person, exercising rights set forth in subsection 1, who uses or attempts to use information, records or other data obtained from the corporation, for any purpose not related to the stockholder’s interest in the corporation as a stockholder, is guilty of a gross misdemeanor.
4. If any officer or agent of any corporation keeping records in this State willfully neglects or refuses to permit an inspection of the books of account and financial records upon demand by a person entitled to inspect them, or refuses to permit an audit to be conducted, as provided in subsection 1, the corporation shall forfeit to the State the sum of $100 for every day of such neglect or refusal, and the corporation, officer or agent thereof is jointly and severally liable to the person injured for all damages resulting to him.
5. A stockholder who brings an action or proceeding to enforce any right set forth in this section or to recover damages resulting from its denial:
(a) Is entitled to costs and reasonable attorney’s fees, if he prevails; or
(b) Is liable for such costs and fees, if he does not prevail,
Ê in the action or proceeding.
6. Except as otherwise provided in this subsection, the provisions of this section do not apply to any corporation that furnishes to its stockholders a detailed, annual financial statement or any corporation that has filed during the preceding 12 months all reports required to be filed pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934. A person who owns, or is authorized in writing by the owners of, at least 15 percent of the issued and outstanding shares of the stock of a corporation that has elected to be governed by subchapter S of the Internal Revenue Code and whose shares are not listed or traded on any recognized stock exchange is entitled to inspect the books of the corporation pursuant to subsection 1 and has the rights, duties and liabilities provided in subsections 2 to 5, inclusive.
(Added to NRS by 1971, 863; A 1977, 659; 1997, 3092; 2001, 1368, 3199; 2003, 3092)
Chart looks like we may test the .023 .024 area soon. Little news would launch us IMO>
http://stockcharts.com/h-sc/ui?s=SFNN&p=D&b=5&g=0&id=p38703986988&a=93207252&...
Maybe he was hitting on you...again...not that there's anything wrong with that...lol
If I do I will. The end.
Since this company was suspended and is on the greys I see no point in going there without getting verification.GLTY
Since you added again that it was a great trip I'll ask this question. So are you saying you actually didn't ask for verification of anything in my previous post?
I think in time we will be fine here once we see audited numbers but Brentjanice and Blockman's posts on Tuesday and continued reference to the trip are BS. If you have information share it or don't reference it.
You asked about the audited financial and were shown a check verifying the accountant was paid. I had already verified that on the first day of the suspension that the accountant was retained on Feb 2nd when I got through to him. You did not however get verification from CKYS that they have given all of the documentation from 2004, 2005, and 2006 to the accountant yet. If you did please share that.
Did you ask to see purchase orders and did you see them?
Were you told the current share structure by the TA or were you told no new shares were issued?
You were told there was a short position of 215 million shares a far cry from the 25-30 million dollars that Plant had told people in the past. And did you see the NOBO, OBO, and DTC?
Both you and Brent posted teasers on Tuesday then finally came out with a BS post after trading closed.
Sorry for the tone of this post but if you didn't get verifiable proof of the above or if you aren't willing to share it then you shouldn't mention your trip to Cyberkey.
Yes I just saw that. Your last post about it was fair.
So if I understand you correctly National stock transfer can act as a transfer agent for a company that does not have 3 million in assets and over 500 shareholders. That wasn't responsible of you to post that without these requirenments. I'm sure it wasn't intentional on your part but it did give the impression that CKYS was using an illegal transfer agent.
OK so lets clarify. Do they have to be a SEC registered transfer agent to legally operate? Can they be a transfer agent and not be registered with the SEC? I'm sorry if this is a stupid question but it sounds like you are saying that national stock transfer is illegally acting as a transfer agent. Is that what you are saying? Please be as specific as possible with your response to my questions thank you..
I put in a test buy of 1000 shares at .03 limit and it went through at .01 @ 13:49 took 3 minutes to fill.
Hey GamblerNC, I think you misunderstood. I was replying to questions about why the govt purchase order isn't on the PR anymore. I simply said it is possible that the order has been filled so they removed it as opposed to never existing. It is possible that they have found other avenues into the govt too. GLTY
I agree on your time frame. Feb 20th was 60 days March 15 if you want to give holidays and week ends. I'm an investor not a supporter. I think I will have to re-evaluate at that time. It seems I got more valuable information the one time I spoke with Plant than people that talk to him regularly and visit his office. Time will tell if he is legitimate or not.
I agree. The key for us is to see audited numbers. If that happens things will be fine.
Understood but has anybody considered that the govt purchase order has been filled. In the video JP said they got 18 million of the 25 million. So they were waiting on one payment which they may have received by now. If that is the case it would be wrong to continue saying they are fulfilling a 25 million dollar govt order if it has already been filled.
Ziggy Jab is right.
OK good thanks glad you think it looks good. I have to learn more about the aroon.
My guess somebody painting us down trying to get more. Brush works both ways IMO...
I agree.
That is the first time I heard that. Are you certain of that being true?
SFNN Double bottom how does it look?
http://stockcharts.com/h-sc/ui?s=SFNN&p=D&b=5&g=0&id=p38703986988
SFNN Double bottom. http://stockcharts.com/h-sc/ui?s=SFNN&p=D&b=5&g=0&id=p38703986988
Jersey I think getting filled here on the greys has a lot to do with your broker. I got filled for 100k yesterday at .01 but it took a real long time and I know a couple others got filled a little easier. I was watching trades go through under my bid while I wasn't getting filled.
Small float at the moment of 100 million and it trades like it. Needs news and it will move IMO.
My self just rolling with the punches at the moment as you can imagine.. 'cut me Mick'......
Read you post it sounded like you didn't know there was an audited count here. I really can't imagine anybody believing Liquid. No offense to him but he's comic relief.
SFNN Possible double bottom:
http://stockcharts.com/h-sc/ui?s=SFNN&p=D&b=5&g=0&id=p38703986988
Looks like we might see a test of the 200dma soon. Close above that with some volume and we could move.
The board info has audited and unaudited.
Liquid please don't post that again it has very little value IMHO.
Oh I just logged on I didn't see the sarcasm. I thought you only did that sacasm thing..lol
I have a 1000 share buy at .03 limit just to test. Nothing happening. We aren't trading at the moment.
Are you saying that you agree with CKYS's PR on the first day of the suspension describing it as informal? The suspension made it formal.
It seems some people had trouble getting thier fill today and are trying to keep the focus on the suspension that just ended rather than other issues.
The public will not know if the SEC is continuing its investigation until the SEC publicly announces an enforcement action against the company. If there is no enforcement action the SEC will not comment.
Plane if you feel like that then you shouldn't be posting....lol
You're reaching. The problem with todays PR was that it didn't give guidance on what is being done to get back on the pinks or when the audited numbers will come out.
The original SEC complaint listed the three issues and included the phrase 'among other things' as everyone of thier complaints do. It gives them an open door to sniff around wherever they want to.
It was always a formal inquiry regardless of what the prior PR said. Your saying that the investigation has expanded or gotten worse in some way is completely unfounded.
Get real. The company was wrong to say it was informal before. A SEC suspension is formal no matter how you slice it.
You have no legal way of knowing that.
Well then you should state that it is your opinion. The way you worded your post it sounds like a fact that you have illegally obtained.
You wrote:
'echogreen, if you prefer to see it that way, that is your right. however, i guarantee you, the scope HAS changed'