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You don't convert notes at a 1:1 ratio... those 7,000,000 convertible notes were each worth a certain amount in $$$, and thus were exchanged for however many shares would equal that amount, based on closing prices on a few previous trading days... usually at a deep discount, so those few million notes were worth several hundred million shares.
Need to read up on how that works... it's pretty common, and has a major effect on share price (as we've seen here).
I'd be hesitant to put a timeline on this without more information... But honestly, it could take that long (it has taken longer than that so far), but if I'm correctly understanding what has been implied by the last few posts (in context with the past 2 years of events), this will unfold pretty quickly once begun.
Etcetera, Etcetera, Etcetera...
Heheh. SC should change his username to 'Moses'
Seriously now though, when you refer to it not being done when everyone wants it to be... does that imply additional days, weeks or months? I'm curious mainly whether the company will reveal this implied delay publicly, hopefully soon... And, regardless of what those delays are, that's not nearly as much an issue as shareholders deserving open communication from the company.
The implied connection with impending NIR news tells me that the ongoing silence has now been at least partly confirmed to involve the ongoing investigation of Corey Ribotsky's 'empire'... to that point, silence is understandable.
Thanks for the update SC... always good to hear your impression of our progress. Will be even better when we see it!
I said I didn't know if has or has not been submitted, either way it is certainly not a 'fact'... there is simply nothing to PR until the SEC approves the reinstatement, which is why saying that it will not happen just because we have not yet been told, is false.
Maybe they haven't submitted it, maybe the SEC hasn't approved it... but even then that doesn't yet mean they won't.
How do you know they haven't filed for reinstatement? They may have, they may not have... but we won't know until the SEC accepts it, which, judging by the situation wasn't going to happen overnight but saying it won't happen just because it hasn't happened yet is flawed logic.
FYI, May has more than 26 days.
Fair enough... there's plenty of room in this situation for both optimism and skepticism. It would be imprudent to not consider all possibilities.
I will say that I would welcome an update from the company, even if it was to say where they were in the process, albeit delayed by circumstances. The worst thing they could do is nothing... that would certainly prompt action on my part to give them a reason to communicate openly.
Maybeso, maybe not... It wouldn't surprise me if many shares not held by investors have been or will be cancelled. But there are many other scenarios... including aquisition, where CYSG shares would be exchanged at some ratio for those of another company. There are any number of ways to manage the SS without an R/S.
Still, I can't say it's not a possibility. My expectation, however, is that if CYSG is reinstated... the company will not want to marginalize all of the efforts required to get to that point by devaluing their investors stock in the company.
I doubt it, but it's possible I suppose... It was already revoked, there was no face left to save, other than with CYSG investors who aren't any better or worse off, unless they do in fact follow through with their statement.
Alot more than 40 million... I've got nearly that much just myself.
I'll put it this way... as I've said before, Cape had no reason to give us the expectation of resolving the situation, but still they told us to expect reinstatment within 60 days of the end of the first quarter of 2011. That gives me the indication that they do intend to resolve the situation.
That said... I do think this is their last chance to redeem themselves. If they miss this mark without updating us, then there is no reason to have any confidence in statements made by Cape Systems.
Again, they benefitted nothing from giving us that expectation... so the most reasonable thing to do is wait out the timeline given. After that, it's anyone's guess.
I have not received a reply to any of the three emails I have sent... but I do recall someone mentioning they had gotten a response from her, though she didn't really give much if any information.
Either way, there's 6 days left to hear something or not from the company... If I had to guess, I'd say Friday is the most likely. But as far as hearing from Barbara, I'm not counting on it anytime soon.
At least at this point, nearly all of our shares can be considered a long-term investement, come tax time... depending on how this goes, that may save a some of us a fair amount.
Call the SEC and ask... they won't tell you until it has been completed, and we're more likely to hear from the company first.
I can neither justify nor condemn anything Tom's has said to anyone else that has not come to pass... I have personally never received a reply from him. What I can infer, however, is that the ongoing situation has been very dynamic, and plans have obviously been modified or delayed several times without any of our input or consent... which is why the only 'solid' timeline we have gotten from the company publicly was the reinstatement by the end of May (if accepted), as far as I am concerned all other dates were optimistic, not firm. That in no way denies that the private information given was incorrect, because it obviously was. But to me it indicates just how vigorously the adversarial party in the equation was fighting the desired progress every step of the way. If there is any blame to be laid, it was with the company not communicating publicly meanwhile Toms provided tidbits of information which were obviously not solidified plans yet, which we took to be the final word on the subject and ended up dissapointed and feeling misled when the plans changed. Toms should not have raised our expectations with unconfirmed dates.
However, everything that has transpired were required steps to eliminate the toxic debt and put a leash on the dilution; there is plenty of evidence to support that, and none to refute it... so when/if that is complete, and the expected reinstatement occurs, this stock will perform as it should have all along. If the reinstatement does not occur (or was not even pursued), however, that would be grounds to accuse the company of lying... no denying it.
They have a week.
As far as Toms putting us in this position, that's not (at least entirely) accurate... Cape was in dire straits before Toms was made CEO, and most of his efforts have been to remove Cape from the grasp of NIR once it became apparent that financing was toxic which, again, required these recent drastic and (hopefully temporary) detrimental steps.
I honestly won't know what to think about the situation as a whole until we all get more information... but at the most basic level we all agree the present situation does not look good. I and several others think that there is immense potential for that to change... I guess we'll just have to wait a little more and see.
Ah... I understand.
I don't base my expectations for a company on anything other than documented facts, to do otherswise is imprudent at least. All we have right now is they said they would pursue reinstatement by next week, and that time has not yet passed.
As far as simply hoping they act on privately inferred actions, sure I do, but there is nothing to hold them accountable for, when it comes to such things. Seeclear has been trying to do us a favor by communicating what he hears, in an informal capacity, and as far as I'm concerned there is nothing to read-in to that. He's not speaking for the company, he's just relaying what he hears. Unfortunately the company has put us in the position where that is the majority of the information we get, but it does match events which have transpired, when looking at the larger picture. But you're reading too much into it if hearsay is all you think any of us are going on. I felt the same about this stock and company long before anyone here referred to direct conversation with Toms. I learned a long time ago that third party information is generally 1/4 True, 1/4 False, 1/4 Exaggerated, and 1/4 Down-played, so all told there's too much evidence to the contrary to say this will never trade again, or the company would go BK... just like there's little likelihood that many of us will make 'millions' on Cape. But, the truth is somewhere in between, and I believe soon to be revealed.
...no, the context of the PR was to explain the situation (or at least part of it) which led to being revoked, and to publicly state they were pursuing reinstatement, effective within 60 days of the end of last quarter (which is next week).
They have some time remaining to fulfill that statement. I prefer to let them succeed or fail before jumping to further conclusions.
...and you as well. I think next week will tell the tale.
Have a good weekend everybody.
That was my first assumption.
Point of interest highlighted...
DecisionPoint Reverse Merger Granted Canadian Court Approval
DecisionPoint Systems, Inc. (OTCBB: DNPI), a leading provider of Enterprise Mobility and RFID solutions, today announced that the Ontario Superior Court of Justice has granted approval for the closing of the merger between DecisionPoint and Comamtech Inc. The transaction will be completed by the end of this month.
"This is a great transaction for the shareholders of DecisionPoint and Comamtech," said Nicholas Toms, Chief Executive Officer of DecisionPoint. "The merger provides us with a solid balance sheet and an improved platform to execute on our strategy of complementing organic growth with select acquisitions. Further, the merger serves as a building block for a Nasdaq Capital Market listing application. The financial foundation of the combined company will be stronger with reduced balance sheet risk and lower debt."
For additional details on the reverse merger agreement, please refer to the formal announcement made on October 20, 2010.
No... if we don't hear something by the time they PR'd we'd be trading again, odds are it will be a long time before anything happens, if at all. At some point accountability has to kick in.
Thing is, they had no reason to give us the expectation of resuming trading by the end of May unless they intend to follow it up. That's what I'm looking at anyways. So there is a significant upside to this if they come through, bearing in mind all of the potential documented here over the past years... But if they don't come through, their credibility is shot and this becomes a different ballgame. I have to believe they know better than to allow that.
I'm just calling it like I see it. I fully believe in the potential this company has, we're just waiting for a value to be attached to that... they still have the opportunity to do so voluntarily with significant benefits all-round, and I will be quite surprised if they let this pass by.
I guess we'll find out within a couple weeks...
In a fairytale maybe... Your theory would require NIR to have sat idly by as the share structure was driven into the ground then delisted without converting shares. We know for a fact they held alot of notes (quite a few more than was dumped over that year), so if they weren't converted and sold by NIR... and haven't filed suit either... that makes zero sense, considering who we're talking about. Because, while Corey's soul might be shrivelled, his ego isn't.
I think the developments surrounding Decision Point are relevant to the awaited disposition of Cape Systems... to what extent, though, is not yet clear.
I'm waiting to hear more about Mr. James Moriarty, for now.
If we don't hear anything of substance from the company in the next 2 weeks, it won't matter anyways... so that's what we need to be looking for, whether it's related to DNPI/COMT or not.
Thank you for the update sir. A couple more weeks isn't much to ask after coming this far. I'll consider it an early birthday present.
He's got three weeks... alot is riding on Toms making them count. It has been a long 20 months (at least) for most here, it's about time to see what we bought. I think it will be surprisingly good, from what I have been able to infer. Still, this time the optimism for Cape has a set expiration date... Nothing less than complete disclosure is acceptable.
Xequte Solutions...?
Anyone aware of this: http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=6637573
They still have 41 days by my count to fulfill or neglect their publicly stated goal... at this point everything else is speculation, circumstance, and point of view. That's not a good place to be, for sure, but there's no denying the outcome is definitly still up in the air.
If they don't come through, you bet I'll be first to say I'm disappointed (to say the least) in Toms. But, considering he benefits nothing from publicly giving us shareholders an expectation he had no intention of fulfilling, odds are better-than-not that something positive is in the works within this timeframe (in my opinion).
All I have known from the beginning is that this investment was different from any other I've been part of. Call it a gut move, or doing DD with rose-colored glasses on. But I'm convinced there is something solid here to profit from... if I'm wrong it won't be the first time, but if I'm right it's a life-changer.
You're forever the pessimist, gimme, I get that. But niether of us can legitimately call the other right or wrong for another 6 weeks, remember.
If the company lied in their public statement, then we'll know in 52 days. Until then it's all speculation, positive or negative... I prefer to believe they are working towards a solution which will benefit all concerned, simply because that fits the past DD, the players involved, and what I do know of the underlying scenario, best.
It's not reasonable to expect the entire company to come to a standstill until a corporate level change is implemented... I don't like the delays any more than anyone else here, but if marketing and sales have an opportunity to expo their products, I really don't see any point in complaining about it... They can put out a fluff pr every day for all I care, just as long as the management team keeps slugging it out in the background.
Thank you for the clarification... will continue to wait for a good year to get better. CYSG has all my attention this month.
I really truly appreciate your dedication to Cape Systems' investors, gimme, this journey would have been, at the very least boring, without your colorful (though repetetive) insights. No sarcasm intended at all. We don't agree on our perspectives, and don't give a rat's ass about each other motives, but we're all still here and that counts for something (lol @ the post count of a delisted stock). Best of fortune to you, whether you expect it or not.
There it is... haha.
Charming.
...amicable and complex AND lawyers involved?!!! Say it ain't so!
Seriously though, that tells me there is another company involved... not just financial institutions and government agencies.
Thank you for the clarification.
Since we needed, as mentioned previously, at least 4 sets of signatures to go forward, I have to assume that we're talking about something more than just registration of shares and resumption of trading as the 'event'. There are a number of scenarios which would require coordination of multiple parties... And, since apparently feet are being dragged on this, I have to assume that the negotiations are not amicable, or the result will not be beneficial to all parties...
At this point, my primary interest is when Cape Systems' investors will be publicly notified of these developments. I do not enjoy being in limbo, regardless of how highly I regard the management of the company in which I am invested.
SC, I very much appreciate your updates on the situation from Toms. I'll be sure to set aside a few shares to buy us each a beer or ten when this is accomplished.
The Company plans to file in the first calendar quarter of 2011
I sent an e-mail to Ms. Martorano... will post any response I receive.