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It may be, but we don't have enough information to say for sure either way at this moment. It will be obvious within 60-days now, if they did not meet their self-imposed timeframe.
I'm sure their first priority is to notify you.
They very likely filed already and we won't see it until the SEC or Cape themself updates their info... The SEC won't post anything until it's accepted, and likely neither will Cape.
I just checked again and it's gone... their web guy must be having difficulties or something.
I suppose they could be switching servers...
It appears the website has been reverted to the way it was... investor relations page is there again.
Will be interesting to see how that cash is used.
How has he failed already, if the timeframe given has not yet passed? By my calendar and the company's word Toms has 62 days to get this reinstated (or trading via another route).
So far, this is only a dissapointment to the short-sighted.
Decided to pull the NJ DoR Business Status Reports for Cape Systems Group, Inc and Cape Systems, Inc...
FYI,
...yeah that makes sense, a conspiracy by a revoked company to buy the loyalty of internet forum members who can benefit them absolutely nothing.
The phone number at that location is the same as Decision PT in Conneticut...
Decision Point Systems CT Inc
4 Armstrong Rd Ste 7
Shelton, CT 06484
203-929-5101
Sentinel Business Systems Inc
Street: 240 Long Hill Cross Road
Shelton, ct 06484-6125
Phone: (203) 929-5101
...A very tangled web.
Found something interesting... I don't know how meaningful it is, but:
1) Address for Cape Systems & Decisionpoint Holding = 4 Century Drive, NJ 07054
2) Similar business at same address = Sentinnel Business Systems phone # 973-290-0100
3) Cross reference that phone number, and it goes back to Nic Toms: www.live-pr.com/en/decisionpoint-announces-comamtech-shareholder-r1048809819.htm
Company Contact:
Nicholas R. Toms
Chief Executive Officer
T: 973-290-0100 ext 110
ntoms@decisionpt.com
I can't find anything else on the net about what this 'Sentinnel Business Systems' company is except that it is a private software/tech company. Plan to call the number in a bit...
Looks like Decision Point still has offices there, but under a private sub holding-company: www.manta.com/c/mm0bbwc/decisionpoint-systems-holding-inc
I did think that was interesting, but didn't make the DNPI connection at the time... so, there's more food for thought.
This is his last year, and he knows it.
I wouldn't realistically expect anything stating hard numbers until a week or so after the end of the first quarter, if not well into (or end of) the second, that's just my impression; I haven't talked to Toms... but my reasoning is simply because, if he is doing what I believe he is with Cape (as has been hinted all along), timing is critical and financials and filings and registration has to be all 100% right before we see anything meaningful. I think we're close, but we've been close for a year and a half, so color me cautiously optimistic when it comes to timelines...
I'm still here because Cape Systems has, from the beginning, had the potential to become the premier company in the RFID sector...
We'll see what happens... I will gladly be wrong about having to wait another few months, but I've been wrong here before in the other direction.
...indeed, I expect them to need every bit of that the year Cape's value is fully realized.
It occurs to me that the revenue resulting from the sale of assets to Invata would be a nice start with regard to financing a buyback, if not used towards the costs of a R/M.
Has there been any mention of what those funds will be used for? There has to be some strategic reason for liquidating assets in this context.
I imagine there are a few folks nervous about having to cover, if they were short on CYSG...
Are you saying that all legitimate companies are publicly traded?
Cape has verifiable, and internationally recognized products in use by many well documented contracts.
So there's no denying it is a real company. Any investor worth their salt would already know that.
At the moment it is simply not publicly traded, a situation which is being rectified.
Good observation. This is true, and significant, because it means that Cape's intellectual property was not bound by any subsequent financing, used to pay off NIR, either. So, from this we can infer that Cape has lowered debt and streamlined significantly.
Will be interesting to see what Cape itself has to say shortly.
It just gets better and better for ol' Ribotsky... heh.
I suspect we'll find out that the meltdown of NIR has had alot more to do with Cape's silence and subsequent delay to resurgence than many realize...
I think that much of the story is yet to be told, and it wouldn't be so carefully guarded if things actually were as they appear.
Either way, we'll know soon enough what was truth and what was libel.
Good post.
As has been mentioned before, we are still awaiting fulfillment of the most recent official communication from Cape, which was to file a new registration statement in the first quarter of this CY. At this point, anything can happen... And, 'anything can happen' is the reason most of us purchased shares here from the beginning (the rest were here to flip or short).
Personally, I have more reason than not to keep my shares... It would be foolish to surrender them either way; even if it was worth taking as a loss, that's as simple as claiming 'worthless/revoked' on a Sch D, keeping the shares, and resuming with a $0 cost-basis when this balloon does go up.
This has been far too interesting of a journey to not see through... and I still expect to be very satisfied to have been involved.
Happy New Year!
Welcome to Capewatch 2011...
The covertible note-holders get their money either way... but when the company is revoked, settling the debt must be done on a cash basis. This avoids further dilution.
I believe the intent all along was to establish the value of the company for shareholders after the convertibles were out of the picture... it seems to me that issue has now been forced, and now we are awaiting the announced relisting in the next few months.
Sorry for my absence, Been out of town.
Hope everyone had a good Thanksgiving.
We have NIR to thank for that.
Either way, we're in limbo right now... whether you believe there is hope or not, we're just along for the ride. I've personally got some time to kill before deciding whether to write it off, hire a lawyer, etc... So there's no harm in seeing if anything will develop. It's not like anything up to this point has been any hurry...
Folks, keep your private squabbles between yourselves, please.
I agree Renee, that scenario strikes me as the most fair and realistic*
*realistic from my point of view, I don't know about Tom's
It may be... but not under the CYSG symbol.
If we get any action, it will be after a reverse merger with a registered security, which has yet to come on the radar, and the agreement provides shares for CYSG shareholders under the new ticker.
At this time, we have just as many 'ifs' as we did before, and less choice in participating.
But, another way to look at it is, the most positive outcome is still just as positive (though less likely), and the most negative outcome is no worse (though seems inevitable).
At this point there's nothing to do but see this through, it has certainly been one of the most intriguing journeys I've participated in... and I agree that on some level this still isn't quite over. IF Toms does have something up his sleeve, I'd like to see it, or at the very least stay in the loop here if it comes to recouping losses another way, collectively.
I can't ignore that this development royally sucks, and I can't say that I see much hope for CYSG, independently... It will likely never be re-registered.
This of course isn't 'it' for Cape Systems; the company itself has way too much going for it still... However, we investors have indeed been left hanging indefinetly. This was always a possibility (no matter hom many times a day it was or was not gloated about)... live and learn in the world of pink/grey-sheets.
Really, the only option at this point is to hope that DNPI aquires Cape Systems, providing recoup for CYSG shareholders (or perhaps even fulfill the alluded opportunity). None of that is completely out of the question, but today has certainly put a damper on even my own optimism.
I have been unable to get in touch with anyone at the NJ office, or Nic himself, this morning (even to leave a voicemail)... I will keep trying, as always.
SC and Rich, I'm sure you'll have more luck at that, so drop me a line if you don't mind: eddiemickle@hotmail.com / (931)607-0806
If it makes anyone feel better; I admit I was wrong about this one, as it stands today. That may change, but today is a sordid record in CYSG's permanent history.
The ones expiring in 2013 are held by Cleavenger, and should be no source of concern... But one potential reason for our current situation is to starve NIR out prior to breaking any significant change for Tom's companies. Essentially, force NIR to cover or accept cash payment for debt at the current level instead of allowing them to dilute a potential run.
Has anyone inquired when the convertibles NIR is still holding will expire?
That would be an interesting bit of information.
I remember seeing that... It's as valid a prediction as any, at this point, as far as a timeline goes.
I guess we'll see.
I was referring to the many recent posts here and on the DNPI board which certainly have no constructive purpose.
Facts? Yes, it's true that what we were promised and what was delivered are very different. And don't get me wrong, I think that's very poor business. But, it's also in poor taste to attack a man personally, when we don't even know who is to blame for those inconsistencies, or what the intentions were/are. It's obvious this situation is very complicated, and all I'm saying is let's remain rational... Considering NIR's involvement, there was a possibility this was a no-win from the start. That's why I'm reserving judgement, I think this could still go either way (from a straight-up, rational perspective... but emotionally, I agree this sucks).
Of course Toms doesn't care whether we believe in him or not... but as far as doing what's best for our pockets, how is bashing the CEO going to help that?
Everyone here invested by their own choice, knowing the risks, and knowing there has been no effectual, official communication from the company. It is very dissapointing that we're in a situation preventing any real recovery of our investments (immediatly anyways). But, personally, I had several good reasons to bet on Cape and Toms to begin with, and none of that has actually changed... So I'll stick by that decision (since throwing an immature tantrum doesn't do me any good).
What has changed, however, is the state of the stock... which for one reason or another has aggregiously failed to represent the company. Either we will get an explanation from them, or we won't. I can't justify the conclusion that will never happen, however... This is up in the air until either CYSG gets revoked, or fully reports.
I'm skeptical we'll recieve anything immediatly... but can't deny there is still potential here.
I don't think Toms will allow CYSG to utterly fail, given there's so much on the line. But I'm not expecting any miracles either... There are several huge obstacles to overcome, the first of those is dealing with the suspension by tomorrow. I have little doubt that the SEC has already been addressed, and all that remains is for Toms to file what is necessary (or not), and inform his shareholders what the situation is, going forward.
If the SEC is not satisfied, however, there's no use in speculating any further... So, I withhold judgement for another day.
Excellent observations... I completely agree.
I will continue to reserve judgement over the weekend, this will go one way or the other by the 2nd and to me another few days is nothing compared to the years already past, leading up to this juncture.
Any thoughts on how that may be related? There has been little information, but the halt was due to lack of filing with the SEC since 2006. CYSG has certainly been heavily manipulated this year by an 'unknown' entity via the DOMS market maker... many suspect NIR, or Corey, via offshore account.
The halt on CYSG is an H10... that's a suspension by the SEC because they allegedly failed to meet requirments.