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Any clarification you care to divulge, Rich, pertinent to your now-expired NDA?
https://opencorporates.com/companies/us_nj/9117766000
https://www.facebook.com/csgstaffing
http://www.compunnel.com/about-compunnel/news.html
https://opencorporates.com/companies/us_ga/K423427
(check the dates vs. CYSG suspension & asset sale) https://opencorporates.com/companies/us_sc/597045
http://www.sos.sc.gov/index.asp?n=18&p=4&s=18&corporateid=597045
http://www.sos.sc.gov/index.asp?n=18&p=4&s=18&corporateid=250186
https://d2ijupb52dd0cs.cloudfront.net/companies/us_de/2358126
(See section 33-14-102) http://www.scstatehouse.gov/code/t33c014.php
(See section 33-7-210 (d)) http://www.scstatehouse.gov/code/t33c007.php
http://ww2.cfo.com/accounting-tax/2008/02/liquidation-vs-dissolution/
Draw your own conclusions.
The Cape Systems website now redirects to Esko.
I would imagine that a shareholder who was among the 80% who voted for selling assets to Esko cannot turn around and dissent to that decision.
Making a few rough assumptions... I'd expect around $.001/share, give or take.
Exactly... It's a possibility that part of the deal was the billions of shares held by AJW were leveraged to vote for approval of the acquisition in exchange for their 'fair value' upon release those contracts via the dissent process. Result: debt paid, share structure rectified, and some cash remaining to go forward and put the net-operating-losses into a functional company which could acquire new assets.
I'm sure AJW only agreed because they are against the wall with the liquidation and could not otherwise dump their shares because CYSG was allowed to be delisted and would never trade again until the debt was released in a manner favorable to Cape.
One consideration is that Cape management (Toms, et al) have no reason to 'dissent', since they are part of the >80% who arranged and approved this action... so if they are keeping their shares, I'm keeping mine.
It begs the question, how much of the remaining <20% of shareholders do they truly expect to turn in their shares in exchange for a 'fair value' and actually make a difference? I'm halfway wondering if this is actually an 'out' for the liquidation of the dilutive shares owned by a certain hedge fund.
Exactly... this is a way for them to retire shares without a buyback. The value of the company is still there, it's just about to be exchanged for a tangible amount of cash, in which shareholders have equity... and if shares are retired, the remaining shares are worth more.
...that's the theory anyways. It's also possible they play a shell-game with the cash and stick us with a shell-company that we still can't trade.
I guess we'll see.
Alot depends on what they do with the proceeds from the sale of our assets... This turd requires significant polishing.
After 4 years little can be worse. Let's see it...
I still have 15M
The actual number of converted shares was astronomical, depending on the terms of the settlement.
True... also depends on what the 'actual' share structure ended up being after the dilution and the actual value of the company...
My W.A.G... 1000:1 r/s to open at ~.05
Anything better than that is gravy.
Since when do private companies not have shareholders?
Sounds like this is what you meant by 'changes' SC... I'm optimistic that we'll see some progress on the relisting part before too long.
Was it indicated whether or not relisting would be announced before or after the effective transition (Jan 31)?
Absent any other news, it's not the best thing... Swapping out several executives at once doesn't give me a warm fuzzy feeling.
Has anyone spoken with Brad Leonard or Nic lately?
Good stuff. Thanks for sharing!
I disagree... this is far from over. While there has certainly been no progress (made public, anyways), Cape Systems is still undeniably a viable business with many (now private) shareholders. The end-game... who knows, but we are presently at the mercy of the AJW liquidation process, which is also far from over.
Probably not as "CYSG", at least not for a while.
My $0.02
Seeing the road AJW is going down... allowing Cape to get revoked and appear to have no value may just be the smartest thing to have done.
That's inconsequential, admittedly, if nothing is done to revive this thing once AJW liquidation is settled and the funded companies are all either dead or in the clear (and that will not be over soon).
So, not holding my breath, but I think there's a real possibility this has been played very intentionally all along... and I'm guessing Tom's prefers to retire with another notch in the 'win' column instead of some relatively measly gains from fleecing investors.
Carry on...
That's my position as well.
Still here too... just have better things to do than whine while we wait.
Pennies per share would be my guestimate.
Depends on the value of the merged companies and the exchange rate of the shares... hard to predict, but based on what we do know this has the potential to be extremely profitable regardless where any of us bought in. A pps estimate would be like throwing darts in a dark room at this point, however.
Indeed... this is one of the biggest things which had to occur before Cape could move forward.
This should get interesting...: http://www.sec.gov/news/press/2011/2011-194.htm
Exactly. Well put.
Truth.
An R/S should be the last option for addressing the share structure, since it would do nothing except harm current shareholders.
Nic needs to buyback 1-2B shares, then reverse-merge at an appropriate ratio. Anything less would be a waste of the efforts taken to resume trading. He, of all people, should realize the potential here if this is done correctly.
Exactly my sentiments.
It really needs to happen this year, if this extends beyond the 1-year mark from revokation I'll be motivated to consider my shares dead. If not for the NIR liquidation aspect, I would already be doubtful.
However, based on what information is avalable, reinstatement very possible (quite likely, actually, in my opinion).
I agree. Toms should definetly be held accountable for the performance of his businesses, and the confidence of his investors, based on results.
I'm sure there are several folks who bought a few shares during/following the spike in '09 (including myself), but I'll go out on a limb and say that the vast majority of investors averaged down and added significantly during the following year to just a small fraction of that number... there was plenty of opportunity to do so (and even make some money in the process). Anyone who didn't, it's on them.
I guess that's at least some agknowledgment that they missed their stated goal... We need something more than that soon though.
Let me know how he responds.
Well, the 60 days are up... If they are working on anything, it's not on any timeline that they are willing to communicate publicly. I'm not real thrilled about that, to say the least.
I can understand some of the ongoing issues requiring discretion... but if this company is worth the kind of effort they seem to be going to behind the scenes, to save it, then its shareholders are worth some offical update to at least acknowledge the delay.
But at least are you starting to see, now, that this could be how this works out? It was certainly an unlikely scenario, I don't blame you for being skeptical, but the pieces are soon to be in the right place for the unlikely to become possible.
My bad, I misread how you wrote that statement... I thought you referred to 7M notes.
Disregard my previous rambling.
I don't know for sure, but my assumption at this point is that those debts would be negotiable, given the current situation... and quite likely in Cape's favor.