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All good points. Whether it's JP's or knowles' premise that CKYS' relationship with SQUM was dissolved by CKYS because the products are defective, the whole thing is preposterous, not to mention insulting to shareholders.
And yet the company was promoting the safe all the way up to the day before the suspension in the Super Bowl Program! And now JP wants everyone to believe that the agreement with Sequiam was broken by CyberKey because of the poor quality of the safes? Sometimes I think JP believed he could get away with things because he thought he made a pretty good batch of koolaid. Unfortunately for him, only a handful of people are drinking it.
A criminal defense attorney is now our investor relations contact? Does it get any more depressing? I'm sure he's eager to answer all questions (end sarcasm).
Comparing an SEC investigation of facts to a a neighbor peeking in a window and jumping to conclusions is silly.
Yes, only knowles knows. The rest of us (including the SEC) are clueless. We don't need no steenkin evidence when we have everything we need to know straight from the mouth of JP!
What???? How does one knowingly not know? You need to take a deep breath. You're really reaching! And in the process, you're making no sense! "Reckless in not knowing" means it was JP's job, as the CEO of a publicly traded company, to know things like who the other party of a contract is, where the money is, what is being delivered and when, etc! When you say, "Sometimes ignorance is bliss...", are you referring to JP or yourself?
"There are too many issues....the SEC has there beliefs and evidence and JP and CyberKey has there’s, both are called arguments."
Here is one of the SEC's beliefs:
"... they knew, or were reckless in not knowing,..."
JP sure seems to have NOT known a lot!
knowles, do you think the company has evidence that was not presented to the SEC that will suddenly show up in court? Do you think they're going to pull out proof of a $25,000,000 contract with some other government entity besides the DHS? I'm seriously trying to understand where you're coming from when you say we need to wait for all the evidence and that just because the SEC charges there was no contract with the DHS doesn't mean there wasn't a contract. If Jim has some sort of evidence that will clear all this up, why didn't he submit it to the SEC?
knowles, I was trying to be nice because I'm feeling kind of sorry for you being unable to face facts and all. No hard evidence? Alrighty... we'll accept that because you say so! But if we were to go back to reality for just a moment, we can "safely conclude" that the SEC is going to provide evidence to back up their charges. And as most people know, evidence is provided as fact, not opinion. For example, it's a fact that it was stated by the company through public releases that it secured a contract with the DHS (It doesn't matter if they're now denying the contract was with the DHS) when none existed. It's also a fact that the company announced receiving payments (beginning long before the controller was hired) with as much as $18,000,000 being announced as having been received, even though the company's account never showed more than $270,000. Another minor fact is that the company announced its financials were being audited for months and that the final audits were being reviewed when there was never any audit taking place.
Now I would strongly suggest that you replace CKYS with another symbol (any symbol will do) when attempting to analyze this situation. It seems you're having a little trouble with objectivity at this time. It's a much bigger stretch to believe that this is all just a horrible misunderstanding and that JP was duped by a bookkeeper than it is to believe that we've been duped by JP.
"I don't remember the SEC charges mentioning anything of a contract being real or not they just made it very clear that it was not with the Department of Homeland Security."
I think when the SEC charges state the company's bank account never exceeded $270,000 even though the company stated in the video that it had received $18,000,000 from their $25,000,000 contract, we can safely conclude the company was lying about any contract!
JP writes well enough. Regardless, don't you find it odd that this character shows up right after Jim's arrest and the majority of his posts are asking for sympathy for JP? I wonder if he's as sympathetic to the bookeeper that Jim is trying to make the scapegoat in all of this.
I asked you a question once that you didn't answer, so I'll ask it again: Are you Jim Plant?
I don't think any shares bought after the suspension should have rights to restitution since those shares were not bought unwittingly. And JP's shares obviously will not be included if there is any money to be paid.
I'm not the one spinning things here "buddy". They're open because they haven't been in front of a judge yet.
So let me get this straight. We should believe CKYS' statements that they are busy and operational but not SQUM's statements regarding the default. It's the shareholders, not JP or the company, that are/have been acting like vultures. The shareholders should not expose the SEC allegations against JP and the company but should just roll over and hope for a little doggie treat. And because CKYS is showing SQUM products at FOSE, we should believe that it's not dead. I think it's unconscionable of you, given all the evidence provided by the SEC, that you would give false hope to the shareholders who are having difficulty accepting this situation. You and Brent would say all the "facts" are not in, but what do you think a judge and/or jury would look at in this case? It's the evidence, the evidence that the SEC has in hand. They called it "Factual" Allegations in the document.
OMG! The shareholders are like vultures???? Did you actually just say that?
I just watched the news clip. It was really well done. And they put it together quickly. The only thing I would have liked to have seen are the mug shots: JP then and JP now. lol
Thanks, Max, for bringing it to their attention!
You mean the generic, overpriced, flash drives with no prorietary technology? Do you honestly believe they are being "swamped" at FOSE for those? lol
Name one. e/m
Forget the $5 check. I think the least we should get for our losses is a good show. It should be quite entertaining to watch Big Apple's response when Hank Zemla informs the court that they were the ones that introduced Jim to the military contact. Yes, their attorneys may object when they are questioned about other scams they promoted, but I think it will be overruled due its relevance. I'm really looking forward to hearing why Big Apple allowed their photos with military officials at the Asia Pacific Conference to be posted on CKYS' website as part of the proof of how well things went there. And I can't wait to see the look on Kay's face when she is asked why she acted as the transfer agent YET AGAIN for a company selling unregistered securities. But the look on Jim's face when someone FINALLY asks him the tough questions, while it may not be worth the thousands most of us lost here, should be worth something.
Considering the company is a scam as we all now know, you didn't think to ask him? lol
What are they showing? lol
Exactly, and that is why they should be named in any class action.
Too many "coincidences" if you ask me. The TA was involved in the sale of unregistered securities in the past, BA was involved in promoting a fraudulent contract with HISC in the past, and JP seemed to be using a script from his past too. It seems like a clear case of leopards not being able to change their spots. lol
And what about after the increase in authorized shares when they were telling shareholders that the company was in acquisition mode? Why would a transfer agent know that, let alone be telling shareholders??? Fishy if you ask me!
(Someone should tell the transfer agent that they shouldn't hang up on investors who are feeling slightly litigious. lol)
Todd, I think that's just a way of saying there's no excuse for what happened (should he try to claim he didn't know, which seems to be his habit).
That is legalese for "Those running the company are either blatant con men or completely incompetent. Either way, they should not be running a public company and should be forced to make restitution for their fraudulent and/or reckless behavior."
At least one visitor to the company reported that JP had Kay on the phone for them and that she stated the TA had not been gagged by the company. Another was told by her that the share structure had not changed from when it was posted on the company's website (that was after the suspension). They will probably be called to testify in a lawsuit. There was also a post that someone did get the share structure out of the TA. And although most people have not been able to get actual numbers, a number of people have reported that they were told the share structure had not changed when asked. This is going to get interesting indeed.
There is no third party. The charges state the company did not make sales directly or indirectly.
Let's hope Jim didn't show the SEC the same contract he showed Hank. lol
What I'd like to know is why are they at FOSE? What product(s) are they promoting? lol
Who would buy ckys? It's dirty... very dirty!
I said defendants in the plural sense. I don't believe for a second that BA and the TA were not in on this!
Wrong, if it costs defendants large losses in the way of legal fees, it will have been worth it. Passivity only perpetuates these scams.
According to the charges, financials are not being audited:
"Additionally, according to the complaint, CyberKey and Plant made other false statements to unsuspecting investors, including statements claiming CyberKey had shipped products to DHS and received payments pursuant to the phony purchase order, and that CyberKey was in the process of preparing and releasing audited financials."
At least you can admit you were lied to.
Danno, you said, "Then provide some DD that SCE knowingly participated in defrauding investors. Provide DD that Sequiam knowingly knew the inner workings on CK when it entered into its agreement."
I think that's the whole purpose of the discovery process. If SCE didn't participate in defrauding investors, no worries. No one is interested in collecting monies from innocent parties. However, you can't tell me you're not noticing some inconsistencies between what has been said tonight and what was said back in December. Let's review...
From Dec 29:
"Well all I see there is an issue, we have been profiling CKYS since June 2005, for 1 1/2 years and I went reasonable on the video, oner 2/3 rds of these shares are still held. We did the commercial first then video, introduced CKYS to Big Apple also the military contact, so if you think we were overcompensated, there would be little without my connections, thats the fact." http://www.investorshub.com/boards/read_msg.asp?message_id=15839286
Then tonight:
"I am here to state the obvious, I did not introduce him to the contract, I introduced him to Big Apple. I did a commercial and video via my site, I invested money into this company.When we were at the office Mr. Plant showed me what looked to be a contract. I am also interested in the class action lawsuit.If anyone wishes to speak to me please e-mail me." http://www.investorshub.com/boards/read_msg.asp?message_id=18015730
Also from tonight:
"The contract was supposedly through a BA CONNECTION. I introduced him to BA because he needed a large IR firm, period! I went there, shot a video, real employees, real product, real everything. If you look at all that he put our in press release form, he had the entire world fooled, including me! I am not the problem here, so dont try to make me look like it!" http://www.investorshub.com/boards/read_msg.asp?message_id=18017417
Then there was this interesting post from Dec 22:
"GUYS, YOU DONT RELEASE HUGE NEWS THE DAY BEFORE CHRISTMAS, youput out a fun pr that gives everyone something to enjoy, you announce the BIG stuff the beginning of the NEW YEAR!" http://www.investorshub.com/boards/read_msg.asp?message_id=15751799
I think that might be construed as misleading investors since, at the very least, it implied that "HUGE NEWS" or "BIG stuff" was going to be announced at "the beginning of the NEW YEAR!"
No one's drawing conclusions, but suspicion has been aroused for some of us. The legal process should uncover plenty of the facts.
"do we also blame Pinkseets for posting the UAFs, Google, Yahoo Finance, Market Wire and tons of others who still have these PRs splattered all over the net?"
The key is if they knowingly participated in defrauding investors (a crime). If so, then they are accessories to the crime.
We seem to be progressing nicely through the stages of grieving. I think it's safe to say many of us have moved from denial to anger. Next comes bargaining (via attorneys I should hope). When we see the cut they get, we'll move right on through to depression. lol But, hey, if they succeed at getting treble damages, 1/3 of 3x our investment is our original investment! That would help us get to the stage of acceptance. :)
I was being sarcastic, given that he's sounding a lot like you know who. The third party is BA. He's now saying he introduced JP to BA who introduced JP to the military contact, although it contradicts what he originally said back in December:
"Well all I see there is an issue, we have been profiling CKYS since June 2005, for 1 1/2 years and I went reasonable on the video, oner 2/3 rds of these shares are still held. We did the commercial first then video, introduced CKYS to Big Apple also the military contact, so if you think we were overcompensated, there would be little without my connections, thats the fact."
http://www.investorshub.com/boards/read_msg.asp?message_id=15839286