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There shares are almost worthless, by keeping the company going they will draw down several times that amount in wages and expenses.
They don't expect a re-listing for 6 - 9 months(and thats only if they find a suitable acquisition) and hope to create value that way using the NOL's.
Expecting almost no dissenters, which means they will have a value that makes it not worth dissenting. Meanwhile the management will continue to draw large salaries untill any cash has disappeared.
Any word on what value they are putting on CYSG shares ?
There is no entity going forward they are getting cash for the sale of everything. If you do not dissent you are trusting Nicholas Toms to use that money(again) to return a better investment.
If fair value(or your share of it) does not represent the whole assets or cash after the sale then it is not fair value and will be open to legal challenge.
Personally if they give "true" fair value then i do not see a better option than taking the money. However i suspect they will not give fair value and will use some method to prevent this happening.
A .0005 offer would be a 90% loss for alot of CYSG investors, .0001 would be almost a complete write off for everybody.
Anything less than .002 would consign TOMS and his already blemished reputation to that of been comparable to nothing better than a typical penny stock fraudster.
He said the same to me last Wednesday!!
Did Phil say this ?
A pr will be out today explaining.
Does anybody know what Fair market value is set at ?
Is it worth holding onto the stock ?
Do you have to exercise dissenters rights before the 19th ?
What are the future plans ?
Phil is as bad as Toms it appears, i would hate to do business with them.
PR will be out 8AM Monday.
TOM's does what's in his interest not what's in the shareholders interest. The dilution prior to de-listing never effected him as he owned a % of the company which would always stay constant. Dilution of us retail shareholders was beneficial to him as it brought income to the company and keep his % unaffected. He is doing the same with DPSI.
If we do relist it will be because he will benefit more out of that he would by selling the company and distributing the funds to shareholders.
I gave up talking to him as it always turned out to be pure rubbish and Mr Blocker is no better.
I would much prefer Danaher shares which we could sell right away. Hopefully they don't touch Tom's other piece of rubbish DPSI>.
ESKO does indeed appear to be owned by Danaher which is listed. The best we can hope for is that we get shares of Danaher. Would not be surprised if we get a big fat 0.
What is the point in re-listing if 90% of the current company has been sold ?? As i said earlier we would basically be just a shell.
If its been sold as per the PR what else is left ?
Would love to see a once off dividend, but don't think it will happen. Hopefully this money does not go to pay off debts and leave us as shareholders of an empty shell i.e. worthless.
Yes and it has more dilution on the way and still having massive losses. If they were going to buyout CYSG i would hope that it would be for at least 10 times that value.
Hopefully nothing to do with that other Nicholas Toms related dilution machine that is DPSI.
Afterthoughts ? Yes Rich we only care that CYSG relists again we don't care in the slightest that our shares might be worthless!!! Crikey....
Personally, I could not care less about anything except what my shares are worth.
If they are worthless or near worthless than a reinstatement is pointless for existing shareholders and will go down as an abysmal failure by the company.
Many would not even be back to where many bought before the dilution started. Remember many were buying in the .006's when Tom's was releasing all those promising PR's.
So a 50:1 split would mean we need a share price of 30 cents just to get back to where we were then.
Thats the biggest risk, that we get reversed split/merged into oblivion.
As per previous dilution in CYSG im sure Toms will maintain his percentage holding meaning no dilution of his ownership.
PR delayed till next week!.
PR to be released before the end of next week.
I have been talking to them. I talk to them most weeks. I was told originally about this Last September, it was supposed to be happening then also.
That's how slow this show is moving so don't be surprised if this does not trade this year.
Expect to have to wait a minimum of 2-3 weeks but more likely 4-5 weeks before any PR.
Thanks, i should of said what retail brokers. I know TDameritrade and trade king do not ?
What brokers still trade this ?
2-3 weeks untill any PR, another 3-4 months away before any re-listing.
At which stage im sure they will say it will be 2014 before we relist, which i would not mind too much as long as they don't decide to reverse merge current shareholders into oblivion.
That would be very embarrassing for a lot of the Nick Toms supporters here.
I can't see that happening as it would result in quite a number of court proceedings against CYSG and Nicholas Toms. It could also cause concern among CYSG customers.
No offence millionin1 but i have been getting almost that identical response since last September. Its always just two months away. I don't even bother talking to Nick anymore.
Whats more worrying is why the company so desperately need this deal. The nonsense spouted by Seeclear here suggested that this is a highly profitable company, its obviously not.
It will likely continue to raise money by selling shares or CD's if it ever gets relisted.
LOL, now its the end of quarter 2!! I was told by Phil originally it would be quarter 3. Then definitely by end of year. Last week he emailed that it would be end of Q1 and now he is emailing that it will be end of Q2.
He is showing as little credibility as Nicholas Toms.
Like Nick you cannot believe what he says, i have emails stating a re-listing for last September, then December. Its now January with a re-listing expected before April.
If there is any spilt you can expect to be wiped out. They will be doing current shareholders no favour if there is a reverse split and will mean that we will effectively be written off.
Brad Leonard appointed CEO to succeed Nicholas Toms
Mr. Brad Leonard, who has been running the Company’s western hemisphere operations from Allen, Texas for the last ten years, has been appointed Cape Systems, Inc. President and CEO and will now have full operating responsibility for both locations. Mr. Leonard brings to this new position a proven track record of profitable business operations and growth, combined with a 25 year career in the Packaging Software industry. Mr. Leonard will be charged with guiding the continued development and growth of the Global CAPE branded software products and services.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=81926877
As i have said, they have already spent 200K on the relisting. Nick is no longer CEO>
They are spending over 200K on a relistment. Therefore they expect the shares to have some value. The biggest risk for us is a reverse split so while shares may have value ours may not.
This appears to be the continuance of the delays that have been happening for two years, I'll be surprised if our shares will be worth anything at this stage.!From Phil
"
Three weeks ago we sent out the attached Press Release. We are still working on a transaction that we expect will get CYSG relisted. It will not be before 12/31/12, but we do not expect it to take no longer than the end of Q1 2013 and will send another Press Release at that time. We are in a quiet period until then and there can be no assurance that the actual results anticipated by management will be realized.
Enjoy your holidays!!
Best regards,
Phil Blocker
CFO
Cape Systems, Inc"
FOR IMMEDIATE RELEASE
***Peter Ayling announces his retirement***
***Brad Leonard appointed CEO to succeed Nicholas Toms***
***Philip Blocker appointed CFO and Corporate Secretary***
Allen, Texas (October XX, 2012) – Cape Systems Group, Inc., (CYSG) a provider of software technology for packaging design, pallet optimization, inventory and warehouse management, and order fulfillment, today announced management changes at two of its operating subsidiaries, Cape Systems, Inc. and Cape Systems and Consulting Services Ltd.
Mr. Peter Ayling has announced his retirement effective January 31, 2013. Mr. Ayling joined Cape Systems, Inc. over thirty years ago and after selling the company to Cape Systems Group, Inc. in 2005 he continued to head up marketing, international operations and product development from the Company’s EMEA headquarters in London. Peter Ayling will be available as a consultant during 2013 after his retirement becomes effective to allow for a smooth transition. The Company takes this opportunity to recognize Peter’s accomplishments in creating the Cape Systems Group and in establishing the Cape Pack and Truckfill product lines as the leading software solutions in the branding and packaging industry.
Mr. Brad Leonard, who has been running the Company’s western hemisphere operations from Allen, Texas for the last ten years, has been appointed Cape Systems, Inc. President and CEO and will now have full operating responsibility for both locations. Mr. Leonard brings to this new position a proven track record of profitable business operations and growth, combined with a 25 year career in the Packaging Software industry. Mr. Leonard will be charged with guiding the continued development and growth of the Global CAPE branded software products and services.
The Company also announced that Mr. Phillip Blocker has been appointed CFO and Corporate Secretary of the Cape Systems Inc. operating subsidiaries. Mr. Blocker as CFO of Premier Senior Living between 2010 and 2012 obtained funding and built the infrastructure needed to grow from three facilities at $6 million to nine facilities at $22 million with a $2 million EBITDA. He took a $55 million computer distributor public as a new hardware technology manufacturer and is an interim CFO for a public software security company (SFOR) that eliminates identity theft at financial institutions.
About CAPE Systems
CAPE Systems is an international provider of supply chain management technologies. CAPE Systems offers a comprehensive range of software systems and tools, from packaging design and pallet optimization software, to transportation management systems for enterprise wide and collaborative supply chain optimization.
Safe Harbor
Statements about the company's future expectations, including future revenue and earnings and all other statements in this press release, other than historical facts, are "forward-looking" statements and are made pursuant to safe harbor provisions of the Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time. The company's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward-looking statements.
Company Contact: Philip E. Blocker
(917) 225-7672
Thanks.
SO the options will expire at 1 on Friday ?