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Yes, many naive investors were duped, multiple times.
Will the move from Texas to Delaware help generate business? No
Did the move from Texas to Delaware cost money? Yes
Did the move from Texas to Delaware benefit shareholders? No
Did the move from Texas to Delaware help CLOK mgmt? Yes
More specifically, will the move help CLOK mgmt avoid personal liability in the event of future shareholder lawsuits? ABSOLUTELY!!
The move to Delaware is for CLOK management
You gotta read all of the filings. Start here:
https://www.sec.gov/edgar/browse/?CIK=1022505&owner=exclude
and then go here:
https://icis.corp.delaware.gov/Ecorp/EntitySearch/NameSearch.aspx
Department of State: Division of Corporations
Entity Details
THIS IS NOT A STATEMENT OF GOOD STANDING
File Number:6222125 Incorporation Date / Formation Date:9/8/2021
Entity Name: CIPHERLOC CORPORATION
Entity Kind: Corporation Entity Type: General
Residency: Domestic State: DELAWARE
REGISTERED AGENT INFORMATION
Name: CORPORATION SERVICE COMPANY
Address: 251 LITTLE FALLS DRIVE
City: WILMINGTON County: New Castle
State: DE Postal Code: 19808
Phone: 302-636-5401
Additional Information is available for a fee. You can retrieve Status for a fee of $10.00 or
more detailed information including current franchise tax assessment, current filing history
and more for a fee of $20.00.
Would you like Status Status,Tax & History Information
“Delaware will make it easier to squander dollars”
These guys are putting a lot of effort into protecting themselves from being personally liable. Seems like they are planning to run this ship into the ground, after taking the rest of the loot.
A billion zeroes is still zero $0
addition, subtraction, multiplication and/or division
0+0=0, 0-0=0, 0*0=0, 0/0=0
CLOK is worth $0.00
I don’t believe there is a profit motive
Part time guys pretending to run a company.
Getting paid to do nothing.
And will probably get a bonus for manipulating the stock price when it’s convenient to do so.
Must be nice to collect a paycheck and let the contract investor relations firm handle all incoming questions.
Happy tax loss harvesting!
Yes, CLOK is worth a billion zeroes....
Message in reply to 'clok-em-dead':
In my opinion there just seems to be a long term upside to this one.
The criminal is gone and the product has finally passed the sniff test.
Sales have to be imminent?
If nothing else the technology which is solely owned by Cipherloc is worth at least a billion?
Typhos may have 1 user, and that's it
CLOK investors will have to sell 67 shares of CLOK stock to make a $7.99 in-app purchase within Typhos.
I don't understand the "just wait and see" approach to investing.
No need to wait and see when the stock price continues its direct path to $0.00.
Is CLOK paying Castle Shield to promote CLOK?
April 5th press release and nothing to show for it. It's also interesting that Castle Shield provides a contact number for their technical guy, Mattox, their sales guy, Pazda, but CLOK provides their Investor Relations contact. What a joke!
https://www.businesswire.com/news/home/20210405005088/en/Castle-Shield-Holdings-LLC-Announces-Typhos-A-Secure-Messaging-App-Built-With-End-to-End-Encryption-From-the-Ground-Up
Contacts
Technical Contact:
Dr. Milton Mattox
Castle Shield Holdings, LLC
800-491-5814 x 101
+44 203 769 6363 x 101
mmattox@castle-shield.com
Enterprise Contact:
Tim Pazda
Castle Shield Holdings, LLC
800-491-5814 x 102
+44 203 769 6363 x 102
tpazda@castle-shield.com
Cipherloc Contact:
Matt Kreps
Darrow Associates Investor Relation
214-597-8200
mkreps@darrowir.com
Little ones indeed,LOL! Diehard CLOK investors take heed!!
Sound advice for the irrational, delusional, and unsophisticated investor!
Seems like 10 or 11 years of waiting, excuse-making, and praying!!
CLOK's about to be micropennies
========
Doubbledown Wednesday, 10/13/21 03:14:32 AM
Have faith my little ones. I feel bad for any investor (lacking vision) that has sold.
Achievements with a tremendous payoff are never quick or easy. (Nor will any achievements happen with CLOK!)
Propoganda is the only big thing about CLOK
9/30 10-K will only tell us how much $$ was burned
CLOK exec's are contract, fractional or part-time
CLOK BOD was booted from SONM. SONM and CLOK both performed horribly during Wilkinson's tenure with both.
What does CLOK have to sell? What does it sell for? Castle Shield has sold a few subscriptions for $6.99 a month. CLOK only gets micropennies a month out of the $6.99...it's not even a proof of concept because they've only proved that nobody wants Typhoid (sounds like a VD, btw).
Yes, CLOK shareholders made a mistake by doubling and tripling down on CLOK. If you pull a chart on CLOK it tells the whole story.
Only de la Garza wants to prop the price up so he can unload his million shares!
#micropenis
Sometimes you just have to cut your losses
CLOK is a dud. A disappointment to us all.
Good luck to those who choose to go down with the ship
Facts and rational reasoning should not be ignored
From the June 30, 2021 10-Q:
General and Admin Expenses $198k
Research and Dev Expenses $169k
Sales and Marketing Expenses $0
June 30, 2021 Total Expenses: $367k
Hnatiw, CTO salary $200k/yr, $50k/qtr, $17k/mo
BOD salaries $640k/year, $160k/qtr, $53k/mo
Chasteen, CEO salary $100k/yr, $25k/qtr, $8.3k/mo
Polk, fractional CFO salary (est) $200k/yr, $50k/qtr, $17k/mo
BOD & Exec Salaries total $285k
+ Estimated legal and professional fees $45k/qtr
+ Estimated company payroll taxes $30k
+ Estimated monthly expense reimbursements $5k
Quarter total $365k
Is your money being burned today?
Who are the engineers? Why no honorable mentions??
I remember when Albert Carlson was highly touted as the wizard of CLOK. Doesn't CLOK need a wizard to give them a chance to stay afloat?? Why do we hear more from Milton Mattox, who no longer works for CLOK, about CLOK product progress (even if it isn't material) than from CLOK's own "leadership".
It’s obvious to most that the leadership isn’t in place. The engineering guidance doesn’t exist. The product is worth less than micro pennies per app, and the company is walking around like chickens with their heads cut off. But they don’t mind as they’re getting paid for doing next to nothing!
The decision to partner with Castle Shield appears to be a smart business decision. Why? Because it helps CLOK appear to have a profit motive and not look like an obvious stinkin' shell company. But quarter after quarter and year after year of neglibible sales can't hide that dirty shell smell.
Point is…CLOK has next to nothing to sell, the board and c-level are destroying investor $$’s, there appears to be no incentive to make a material sale, and investors have no choice but to either cash out now and take the loss, do nothing, or, continue to buy using the “averaging down” strategy which is extremely dangerous given all of the facts and knowing the Board's intentions.
...And one more thing...the whales are gone!
After doing a little more research (https://whalewisdom.com/filer/manchester-capital-management-llc#tabholdings_tab_link) it looks like the smart money is gone!
Who's left holding the bag?
...and they didn't even have the decency to walk you to the door...
Let's reassess CLOK. Are we overlooking anything?
Stock price: At the beginning of 2015, CLOK was trading at $0.01. After the reverse split (1:100) on March 23, 2015, CLOK closed at $3.53. During 2015, there were two spikes at $7.00, and then finished 2015 at $2.00.
2016 saw a brief peak of $5.00, but remained steady all year at $3.00.
In 2017, there was much talk of "deals" getting ready to happen, remember? Nothing panned out, but this chatter appears to be the only thing keeping stock price at or above $2.00. After many shareholders lost faith in Michael de la Garza's "stories", stock fell to a low of around $0.90 and was around $1.18 at the end of the year.
2018 saw much of the same; spicy stories and misleading press releases suggesting that CLOK was a leader in something big, and that the big deal was almost about to be inked. It never happened. Stock price stayed around $1.40 all year and closed at $1.50.
2019 was similar to previous years as average price continues to fall, most likely due to shareholders' collective lack of confidence in new management. Stock price had difficulty justifying $0.90, and finished the year at $0.70.
2020 saw more trading activity and many shareholders running for the hills. The end of the first quarter saw CLOK trading at $0.17, and soon after there was support to try and keep the stock above $0.40. CLOK price closed around $0.25 on December 31, 2020.
2021 - I think we all know the story. CLOK is still trending down at $0.14-17 cents a share, with a recent push to do another reverse stock split. When this happens, many shareholders will see the last bit of value squeezed from their original investment.
Congratulations? CLOK BOD definitely got what they wanted!
Just when you think things can't get any worse for CLOK shareholders, the CLOK BOD, led by Tom Wilkinson, pulls this garbage-like move.
So what will happen next? Well, now that it is even easier to suckle the tit until the milk runs dry, everyone who is currently on the payroll will continue to get paid until the money runs out. Oh, and the bar is set very low for bonuses too, so it will be easy to pay out bonuses for making meaningless sales.
Meanwhile, the stock price will continue to drop, drop, drop, all the way down to 0.00. Shareholders may think that the occasional price increase is good, but there are known incentives for certain parties to artificially inflate (paint) CLOK's stock price.
Just an honest, educated and informed opinion.
#wakeuppeople!
SONM up significantly since departure of CLOK_COB Wilkinson!
Coincidence? No, not likely.
SONM and CLOK have both tanked during Wilkinson's tenure with CLOK. Since Wilkinson departed SONM, SONM stock price has risen.
What would happen if CLOK got rid of Wilkinson?
Hmmm.....
Why do many shareholders avoid heeding the truth?
It's understandable why CLOK management would not want people highlighting CLOK's shortcomings, but why wouldn't shareholders want to know the truth by those who can read between the lines?
It seems like many shareholders don't want anyone to "rock the boat", even though the boat is capsizing.
Question: Who has made money from CLOK (besides Paulson Inv Co, attorneys, de la Garza, etc)?
Answer: The people who sold CLOK and did something else with that money!
Lol! Let the shizz show continue!! Lawsuits continue…
Don’t go to the shareholder meeting, don’t sell your stock, don’t do anything. Just hope and pray that some magical, mysterious sale appears. Yeah, that’s the right thing to do!
Roflmao!!
$6.8 million in the bank. Not broke yet!
Values in 000s USD
Balance Sheet
Quarterly
6/30/2021
Assets
Cash and Cash Equivalents
6,848
Short Term Investments
-
Net Receivables
-
Inventory
-
Other Current Assets
8
Total Current Assets
6,856
Total Assets
6,856
The calm before the storm. Shareholders are nervous.
Shareholder’s only hope now is that a mysterious and magical deal will come out of the blue and create some sales that may actually move the needle for CLOK. Is it likely? No, not even close.
The upcoming meeting is not in the best interest of shareholders, but then again, what can be done to stop the Board?
These guys will continue to take their salaries and cash bonuses until the remaining $6+ million is gone. And I’m sure that these guys have multiple jobs. Hell, some of these guys draw paychecks from the same companies!
It’s also surprising that some CLOK investors are happy harvesting tax losses and averaging down, down, down in their portfolios. Especially during a time when the markets have been killing it. But I guess some people would rather increase their position in a company that has $0 sales and that continues to burn money quarter after quarter, year after year after year.
Ma’am, could I get another vodka soda, please? Lol…smh…rofl
Inevitable, it is. A face-to-face_meeting, happen, it will.
We are expecting a huge crowd to attend the Cipherloc shareholder meeting!
Special guests, the SEC! And local enforcement group, the Travis County Sheriff's Office! Other notables, former disgraced CEO, Michael de la Garza and long-distance girlfriend from Quality Healthcare International, Roberta Kale! And how can we forget, Semple Marchal & Cooper who will be looking to be paid their past due bills for audit services!
This is sure to be an "exciting" shareholder meeting.
#rodeo?morelikeclownshow
Message in reply to 'clok-em-dead':
Maybe a face to face with Chasteen will change minds.
The shareholders meeting is for all “holders” of stock in Cipherloc.
I think a face to face will put some in place…or in jail…or….
This ain’t mdlg’s rodeo anymore.
We do not forgive. We do not forget. Expect us
The disturbing consistencies of the evolution of Cipherloc
From National Scientific to Cloud MD to Cipherloc, tens of millions of dollars have been raised and spent.
Products have been highly touted and then are eventually discontinued.
CEO’s, key people and management are initially praised, then referred to as crooks, criminals and narcissists.
The price has fallen, fallen, fallen. An occasional upward movement has been referred to in the past as a “pump and dump” and even as “painting the tape”.
Reverse stock splits have only hurt investors. What will the next one do to investors??
Broker dealers have made hefty commissions off of the many money raises, so we know that some people have made money off of CLOK.
History has and will continue to repeat itself for CLOK. The most likely next move will be the end of CLOK and a new ticker symbol. There won’t be a buyout; there’s nothing to buy.
Many former NSCT investors became CLOUD-MD investors and quickly became CLOK investors. Maybe they will become QTNM investors??
Unlike many shareholders, I have paid attention to the “writing on the wall” and have noticed several patterns that will likely continue into the future.
Letter from SEC to David Chasteen and Cipherloc
May 3, 2021
David Chasteen
Chief Executive Officer
Cipherloc Corporation
6836 Bee Cave Road, Bldg. 1, S#279
Austin, TX 78746
Re:Cipherloc Corporation
Registration Statement on Form S-1
Filed April 30, 2021
File No. 333-255629
Dear Mr. Chasteen:
This is to advise you that we have not reviewed and will not review your registrationstatement.
Please refer to Rule 461 regarding requests for acceleration. We remind you that thecompany and its management are responsible for the accuracy and adequacy of their disclosures,notwithstanding any review, comments, action or absence of action by the staff.
Please contact Mitchell Austin, Staff Attorney, at (202) 551-3574 or, in his absence, JanWoo, Legal Branch Chief, at (202) 551-3453 with any questions.
Sincerely,
Division of Corporation Finance
Office of Technology
cc: David M. Loev
Like, insider trading? Oohhh, I hope not!
All of Besser’s money is on the inside. He may have bet his money on Chasteen and Wilkinson. But it doesn’t seem like Besser is on the inside looking out of CLOK. Let’s see what happens next!
Message in reply to ‘clok-em-dead’
Isn’t Besser on the inside looking out?
That's a great question...for Chasteen and Wilkinson!
I'm sure that Jeb Besser would be very interested to know what is legit and what isn't legit with CLOK. And I'm curious to know how Besser and other big investors feel about CLOK management and BOD. CLOK management and BOD should be very concerned with Besser's feelings.
You seem upset about management: What's there to be upset about if someone's never had any expectations about CLOK's management from the beginning?
By the way, what's the status of Typhos, the Castle Shield collaboration?
Message in reply to 'nt2innovate':
Yes you are right Tron.
You seem upset about management, but do you think the product is legit. The idea of quantum proof encryption sounds indispensible for pretty much every company and gov since most have a digital footprint nowadays.
Paulson_Inv_Co pushed CYDY and CLOK. Surprise, surprise.
Isn't it ironic? CYDY currently under investigation by DOJ and SEC. Is CLOK next? All the pieces, playas and hustlers are there.
https://www.fiercebiotech.com/biotech/cytodyn-facing-sec-doj-investigations-over-public-claims-about-covid-19-drug-s-viability
https://finance.yahoo.com/news/group-cytodyn-stockholders-responds-highly-195100817.html
Message in reply to 'nt2innovate':
By the way, I have been invested in a company call CYDY that supposedly has a biologic drug that with no known side effects that is rumored to not only cure Covid, but possibly half of diseases know to man.
That one trades currently at a $1.30 It is strange to me that I am invested in 2 companies, one that can cure all humans, the other that can protect all computers, yet I am still poor. How can that be?
No sales. No plan. No profit motive. Shell.
I mean seriously, the most recent 10-Q says it all. Another quarter of $0 sales and no real direction towards generating any sales. The CEO is in wayyyy over his head. The only reason that the company is still in existence is because they found a way to squeeze investors for millions. Now we watch the slow cash IV drip, drip, drip, into the hands and pockets of Wilkinson, Chasteen, Hnatiw, Polk, Kreps, and select buddies who will offer $0 value.
CLOK has wasted a lot of time and money and now CLOK leadership can't even piece together a fluffy press release or sexy content for a conference call. It's so pathetic that CLOK mgmt can't even figure out what to do with the money left in the CLOK bank account, besides paying themselves "bonuses" instead of the participation ribbons that would be a generous bonus for being on the website.
People may get mad at the messenger, but it's Paulson, Kreps and Wilkinson & Co who are responsible for attracting and burning the $$ that investors gave to CLOK. The messenger is just stating the obvious.
I guess the only good news is that they are currently burning less cash than de la Garza. So, good luck to those trying to cash out of CLOK. Better do it before its too late!!
I can't wait to see the 6/30 10-Q!
Agreed. "Speak now, or forever hold your peace."
For CLOK investors, it should probably be "Sell now, or watch your investment turn to worthless"
It's hard to say what will happen next, but this ship is definitely headed in the wrong direction. Intentional? Seems highly probable.
I guess Tom Wilkinson is one self-destructive being. What could his beef be with Besser? One would have to be mad at someone to disrespect their money, right? If this isn't intentional, then the plan must be that there is no plan. And again, does Besser not care about money?
Message in reply to:
From my vantage point, the current situation is leaving me more hopeless than ever before. Leadership is running this into the ground and they don't even have the decency to hold a conference call and talk to us. And my sixth sense tells me they are all getting more rich and more powerful while common shareholders are getting more completely screwed.
Are we all supposed to believe that they can tip toe upon the brink of bankruptcy, then to rise up and be the world's defender of the cyber universe?
Wow, this is really bad for CLOK investors!
This 8-K just reeks of CYA cleanup. It seems obvious that Wilkinson and Paulson et al have been in bed for quite some time. Why is it obvious? Because Paulson has been paid a 25+% cash/stock commission and Wilkinson has made a bunch of money and a little bit of stock for orchestrating this disaster. Why only a little bit of stock? Because Wilkinson doesn't believe in CLOK and prefers cash! Money for nothing, stock for free (as in he hasn't earned it).
Jeb Besser and Manchester must be pissed now. I mean, seriously, is this really what they had in mind when they decided to double down on Wilkinson and company? .14 cents a share. It hurts me to make this statement, but these guys are worse than de la Garza!
Good luck to the sellers...and caveat emptor to any buyers!!
Vote against CLOK_Board wishes to preserve your investment!
Only a fool would think that the BOD has your best interest at heart.
No uplist will happen.
The BOD is trying to dilute investors.
CLOK BOD is looking to get cheap shares, then do the reverse stock split.
Speak up now!
Stop the insanity!!
Message in reply to:
Vote no on equity incentive plan until this group of managers remembers that the shareholders deserve to know what’s going on at the company
Perfect timing for a 10-Q, yes?
And maybe some fluffy, empty, no substance press release?
How low can CLOK go?
CLOK investors must be nervous awaiting next shoe...
to drop. How long can confused and complicit CLOK buyers hold up the stock price?
When will CLOK BOD do like SONM and get rid of Tom Wilkinson?
How much cash was burned in the last quarter ending June 30th? Who, besides Wilkinson, benefited the most?
What else do Wilkinson and company have up their sleeves (besides CLOK investor $$'s) to drain CLOK bank accounts?
Does CLOK have a silver lining??
CLOK BOD is already putting CLOK outta business!
Actions speak louder than words...and people talk
No press releases
No sales (to speak of)
No news
Not really any product to sell
The only thing we know for certain is that Tom Wilkinson has had a leadership role with 3 publicly traded companies and all of them have done horribly. SONM has done sooo bad that its executive team gave him the boot last month. No one can make a reasonable argument that Wilkinson is good for CLOK.
Let’s make a positive change and get rid of this guy.
“That’s the fact, Jack!”
Message in reply to:
How do we know what he’s doing? We haven’t heard one word from him other than a couple lines here and there in the past couple PRs. I’m ready for a shareholder CC.
One thing's for sure. Chasteen's silence doesn't help.
I mean, we know Chasteen is a stand-in CEO, just not sure of the "shadow" CEO or CEO's.
So who is CLOK's shot caller?
Hnatiw is busy doing other things. Maybe de la Garza? Gangi?? Milton Mattox??? And please don't suggest Tom Wilkinson. His results are actually worse than CLOK's current performance. lol
Well, a betting man would say that...
It sounds like more “suggestions” of a potential “deal” are being leaked to some lonely investors who have been told that a “deal” is in the works. I’m already skeptical based upon the actions of the current BOD and CEO. I’m also very concerned about the other C-level people involved with CLOK who work for other companies.
Setting that aside, I can’t wait until the next bs “press release” or “news” about some non-revenue or marginal revenue contract. It is only part of a poorly constructed scheme to keep investors from thinking they may have made a very poor investment.
Cue that song by Journey “don’t stop, believing...”
Smh...
CLOK_BOD and Chasteen are busy doing other things
In 5 days, CLOK's 3rd quarter ends. This represents another quarter of mystery and seclusion. I guess its better than lies, innuendoes and outrageous fraud??
Based upon 3/31/2021 10-Q, the Company has probably burned $1.8-$2 million, or $600-$670k a month, or $20k per day in the quarter ending 6/30/2021. $20k PER DAY!!
From 9/30/2020 until 3/31/2021, cash went down $4.4 million!
Last quarter, the Company paid $890k in G&A, but only $31k in Sales/Mktg and $175k in R&D.
There was a $4.1 million reduction in total assets from 9/30/2020 - 3/31/2021. Over the same time period, liabilities went up $500k.
Someone better restrict bank access to CLOK's BOD before they spend all of the money!
clok-em-dead Member Level Friday, 06/25/21 06:42:24 AM
Re: None
Post # 22829
It's impossible to think that Chasteen and Company are just sitting around doing nothing. Chasteen in particular has to be working like crazy. BUT....this is no excuse for not being able to take an hour out of just one day to give us a 30 minute CC. A vocal update would be worth his time and more importantly ours. It's time Mr. Chasteen for you to talk.
What a joke! Cipherloc is trying to fail.
The random speculation on what the company “might” be doing is ridiculous.
The CEO silence is appalling.
Tom Wilkinson’s time with CLOK is pitiful.
CLOK’s product offering is pretty sad.
Stock price is barely holding on.
Investor confidence has gotta be extremely low.
Cash is burning every day, every week, every month and every quarter.
And why did the Board agree to pay out bonuses to these yahoos!?!
Oh, that’s right! Because they don’t care about investors.