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now invest: Before you pass judgement on posters, you might want to take a quick tour through their posting history.
newfy was as big a cheerleader as anyone else on this board.
I'm a basher. newfy is nothing more than a broken-hearted ex-long.
Divine Madcat: I saw your post but not before I also responded.
Talk about obstinate posters - Almost every person on this board was telling him it's trading in the grey market, most trusted longs, and he was hung up on the fact that the PRs from CKYS were still saying Pinksheets.
Imbass: I was not trying to mislead anyone. I don't consider what you are calling products to be products. Were they real products that did what was claimed they do?
To be less misunderstood, I should have said "effective products," "products that actually do what they claim to do" or something of that ilk.
The company has real products, not crap that doesn't do what it claims.
Now, please go back through my posts carefully to see where I stand on this company, because as every long on this board will tell you, I really distrust everything about Jim and company.
It has real products that really work. Is that enough for this company to recover from this mess? Who knows, but it won't be easy.
ZIGGY MARLEY: Your broker was wrong. The problem is that most of these guys have no clue. They look at the stock listing of CKYS.PK, and think it must be trading on the pinksheets, because it's a PK stock.
Try this if you can read:
http://www.pinksheets.com/quote/quote.jsp?symbol=ckys
Notice that pinksheets.com reports that the primary venue for CKYS is Other OTC. Now click on the Other OTC link and see what Other OTC means:
"Other OTC
Or otherwise known as the "Grey Market" is the trading of a security that is not listed, traded or quoted on any stock exchange, the OTCBB or the Pink Sheets. Other OTC trades are reported by broker-dealers to their Self Regulatory Organization (SRO) and the SRO distributes the trade data to market data vendors and financial websites so investors can track price and volume. Since Other OTC securities are not traded or quoted on an exchange or interdealer quotation system, investor's bids and offers are not collected in a central spot so market transparency is diminished and Best Execution of orders is difficult."
GamblerNC: I doubt it. CyberKey resells other peoples products. Anyone can do the same.
But who knows. Maybe some company will see the GSA listing through ADC as a strong bonus that they'd need to spend a lot of time and trouble on doing on their own if they wanted to resell the same products.
Right now, with everything totally up in the air, nope. Never heard of a company under SEC investigation being sold to anyone.
jabberstox: Scam isn't the right word for this, even if the worst case does prove to be true, that Jim et al made the government contracts up.
Scam applies to companies that are really totally without any redeeming qualities. Scams have no products, no potential at all.
IMNSVHO, the evidence is leaning heavily in the direction of the contracts never existing. Why would Jim make them up? Who knows. Maybe he thought he was getting a fat contract, announced it, but it fell through and he didn't know how to change the story.
I don't know. But it is pretty clear that over the past couple of months Jim has been full-speed ahead in trying to position CKYS for real potential. IMNSVHO, I don't think this is coincidental to the SEC investigation - The SEC would have contacted him as long as 3 months ago for the infor they finally suspended trading to try and get.
Does it matter if that was the trigger for his drive towards getting CyberKey and its products on the map? Nope.
So, scam is the wrong word. If it turns out the contracts, their revenue, and profits were ficticious, Jim and his top cohorts will have a lot to answer for. But by then, Jim may be able to set the company on a path it should have been set on a very long time ago.
Good luck...
The CAGE code is issued to companies the register with the government for the purpose of becoming vendors.
Any company can do that. However, it just registers the company, not the company's products.
Phisherman: The product line was the CyberKey, as is most of the products now:
CyberKey Ramp
CyberKey Enduro
Cyberkey Mini
CyberKey Slim
CyberKey Stealth
These are all Cyberkeys - They are all versions of the Cyberkey product.
imamazed: There were only flash drives back then. And there is no evidence that any product has ever been actually listed with the GSA, until now.
Phisherman: Back in October 2005, there was essentially one product, the CyberKey, with many flavors.
There wasn't one single CyberKey product. All flavors could have been listed.
J-Rhino: That would mean that something came up that was outside the scope of the initial enquiry.
You could be right, but the existing evidence says it is highly unlikely that you are.
I guess we'll all find out soon enough. Hopefully, soon enough...
J-Rhino: So, you believe the auditor was hired longer that 19 days ago, or that there is no proof he has been hired yet?
Huh? Why would the investigation be ongoing if they answered the concerns raised by the SEC?
Please, enlighten me.
J-Rhino: I could take a full loss on these and still be way ahead on my CKYS trades.
Actually, as a swing trader who never worries about longterm gains, a full loss isn't really that. I'd save 30+% in tax writeoffs.
So, right now, i'm pretty damn close to being unable to gain anything by selling, and unable to lose anything more by holding.
Maybe if I become really, really, really annoying, someone might get desperate enough to want to buy me out so I'd leave.
Nah. I don't like being that annoying...
jabberstox: I've been hoping to see them ever since Mike was quoted as saying he'd received a retainer, 19 days ago.
forestflanigan: Read yesterday PM's PR. The inquiry is still going on.
Fenian32: Wow - finally listing on GSA 18 months or so after they PRed that the GSA had approved listing their products.
Nobody here (except us bashers) wondering about how Plant is announcing that they now have the ability to sell their products to the government agencies he's been claiming he is selling to all along?
It's a good move, that's for sure. But it sure raises questions IMNSVHO, of course.
p.s. Can anyone give a reasonable explanation as to how it is that Jim was unable to satisfy the SEC's concerns in 2 weeks? Seems the info should have been readily available.
p.s.s. Anyone wants to get rid of me, I have my 500K shares sitting for sale at .0215...
blackpearlbenz: Huh? The SEC can't prevent them from putting out a PR about anything they want to. And, unless it is an outright lie, which I doubt it is, why would they?
The fact that they put out PRs about anything is meaningless RE: SEC. Please go review USXP PRs, and they're waiting for SEC civil charges to be ruled on by a Judge.
FastEddie: CKYS is trading on the grey market, which means there is no market makers (MMs). All trades are broker-to-broker, and are client-requested trades only.
No brokers can buy or sell for themselves.
BullThunder: Nope. There is no such requirement.
Pig Trainer: No.
greenspirit: And you may be right, but IMNSVHO, the jury is still out on what it actually means, if anything.
This company puts out lots of PRs. We'll find out soon enough, I would guess.
madmax: Not sure that would be quite the same experience...
madmax: Damn - I was hoping we'd see some of the "products" available from the strip club...
greenspirit: They've done this in the past - Used the boilerplate statement that didn't include anything about the contract, just to come out using the one that does one or two prs later.
Unless it stays this way from here on (or until the SEC "formal" investigation ends) there really isn't much that can be said about what it means one way or the other.
madmax: Do we know exactly what that means? Will any of their products be highlighted in someway during the fight? Is the fight televised?
Looks like there's some interesting sponsors other than CyberKey (like maybe a strip club?)...
olemiss1305: Actually it does. It tells us that after 10 trading days Jim was unable to answer the SEC's questions about the contracts and the revenues/accounts recievables.
Sorry, IMNSVHO, it should have taken about 2 days to do that.
chuckerfmfla: They don't say anything, but they also don't prevent companies from saying what is going on.
Let's say the SEC started announcing that a company was 'cleared' immediately after a suspension was over. Then, what happens if the company might need a bit more time to handle the SEC's questions (as apparently CKYS does). Many people would immediately assume the worse if nothing was said by the SEC even though it may clear up the issue in a matter of days.
The SEC doesn't have to say anything, because the companies are free to announce the status, as CKYS did tonight.
spaldublin: I doubt it has really escallated to a formal inquiry, but it could have.
It is just as likely that Jim mispoke - Maybe it just feels like it's formal after sitting down with a bunch of SEC investigators...
Jenna: They do not comment on investigations. They will not report how it is going, whether it is over, or whatever else.
They're response right now will be 'call the company.'
smartmoney: It is very clear that there are real issues with the UAFs, including the non-GAAP way the revenues/accounts receivables were reported. Yet they have not been changed.
The SEC can tell them to change anything they want, but they cannot do anything except pursue a civil charges in court if Jim decides not to do it.
I'm not saying that this is what's going on, but it doesn't look good. If Jim was unable to satisfy the SEC concerns, then he has to know the SEC will be moving forward on civil charges. His failure to make any changes won't change that.
I'm still hoping that someone I can get out at 2.16, but unless Jim clears the air, it might be hard to do for awhile.
smartmoney: You are correct - a company can comment about the current status is relating to the 10-day suspension.
If they are still working with the SEC to get something handled, they can say that.
If they successfully handled all of the SEC issues, they'd have a letter from the SEC saying that, so they can state that.
If they were guilty of one of more items that the SEC had problems with, they can come out with a "mia culpa" about that.
Right now, the company has said nothing and nothing has changed on the website. That IMNSVHO does not bode well.
So, here's hoping Jim comes out with something about the current status, soon.
JalapenoBuck: Revocation is pretty much reserved for companies that are total and complete lies. The next step, if the SEC could not get it's concerns handled appropriately by the company would be for them to build a case for civil action.
In the worst case scenario, there could be fines leveled against the company and its officers, but the company would continue to exist, unless it was totally unable to pay those fines.
Look at USXP. One of the biggest scams in the world, yet all that CEO et al are facing, from the SEC, is some huge possilbe fines, and prohibitions against being associated with a publicly traded company again.
That would be the worst case. Even if Jim was lying about the contracts, he could settle with the SEC long before it got that far.
Pig Trainer: There is nobody making a market (MMs), which is why this is trading grey.
If the stock gets an MM to file the necessary documentation stating that they believe they have accurate information about the company's financials, and the NASD approves that request, we'll only know that when that MM shows up in Level II.
Right now, there isn't any.
jabberstox: There actually are bids and asks. Brokers publish their client trade requests so that other brokers can buy or sell their client requests.
Every trade is always a matched trade - someone bids .01 and someone looks to sell at .01, if their brokers find each other, the trade can go through.
However, the idea that trades can only go through if they are exactly the same number of shares bid and ask is a myth. There is no such requirement on the greys.
There is virtually no requirements on the greys except that there are no MMs making markets. Only brokers who can buy or sell for their clients, but not for themselves.
You can get trade data from many sources. All of them will show what the highest bid, lowest ask was at the time a trade occurred today.
Good luck to you.
sprtcrdlui: let's try this again:
A trade at the Ask will show up as a buy. Trades below the ask typically show up as a sell.
Every trade includes a buy and a sell. Jabber bought at .01, but someone sold them to him at .01.
There have been precious few trades at the Ask since very early this AM...
sprtcrdlui: A trade at the Ask will show up as a buy. Trades below the ask typically show up as a sell.
Every trade includes a buy and a sell. Jabber bought at .01, but someone sold them to him at .01.
There have been precious few trades at the Ask since very early this AM...
waveaura: Everyone needs a broker to buy or sell at all. If CKYS is a brokers client, they can buy and sell just like you can.
Doesn't mean they are or will, just that they can.
slorke: Thanks. I was correct.
CheezyTang: My understanding of the greys is that brokers, which all MMs are, cannot do any trades for themselves. They are only allowed to do trades requested by their clients.