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Who were RG Global's lawyers? How do the RG lawsuit and CYBL lawsuit differ? I have noticed that CYBL's lawyer seems to be a very reputable and a high profile attorney who just moved over to be a partner with a very high profile firm in Fox Rothschild. I seem to be having trouble determining who RG's attorney's were. I see that RG has settled and their CEO is retracting his accusations about NIR. It would seem to me that a respected lawyer like Ernest Badway would not have taken CYBL's case if he did't have some sort of evidence backing up their claims. I find all of this very interesting. Can someone enlighten me on my questions?
I think we will get positive news before we do any "crashing."
I would like to know what really happened here. 3 companies don't sue for the same thing and there not be anything to the claims. We have all read all the numerous other shady things that Corey has been involved with as well. What did RGBL get out of the settlement???? Obviously something or both parties would not have settled. If RGBL supposedly had no evidence of illegal trading then why did NIR settle with them? And why will NIR only recieve CERTAIN payments for the notes and not all of them? Lots of questions still to be answered. I also would like to know who RGBL's lawyer was.
I think that some more good things will come down the pipe before that. I hope so at least. Hopefully that licensing deal comes through soon.
I agree. We will just have to wait it out.
I think it is intriguing that they are doing business with CYBL. I would not think that a bank like that would usually do business with a small company like CYBL.
Called the TA. Still the same. AS has still not increased. It is still 700,000,000. OS is 552,442,883. That is a whole 2 more shares added to the OS.
So what are you trying to say?
"This is great news for CYBL and I look forward to this news reaching a wide spectrum of investors."
That is what we have been lacking. Hopefully now this will legitimize the company and people will start to take notice. This is a great endorsement of the future of this company.
Closed at the HOD with a nice long white candlestick. Maybe this is going to start to get interesting around here.
I would imagine that this is foreshadowing some sort of financing deal or hopefully something big that they are going to spring on us soon. I doubt that Deutsche Bank would take such a stake unless there is something big in the works. I wonder what it is? Maybe that licensing deal they talked about in the shareholder letter. Who knows. Hopefully we find out soon.
Did you not read the filing about Deutshce Bank? That is why.
Deutsche bank announces 9.09% stake in CYBL. (Cyberlux)
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=5428795
Move up to the ask. :)
Agreed. No fluff is always more reassuring. At least to me anyway.
Yes there is something wrong. They don't make any money yet, they are deeply in debt, and they have a lawsuit against their financiers. Also, the overhang of possible convertible debt is what scares a lot of people away. That is why they are a .02 cent stock. All stuff that we know and have known for a long time. Are you one of these people that think institutions buy penny stocks? That is laughable. Stop dreaming. All you need to know is out there for you because this is a fully reporting company. If you do not like the stock then please move on and spare us your trite because there is plenty not to like but also plenty to look forward to. What exactly do you want from it? If they release some substantial news and generate some actual revenue then people may finally take some notice and we will go up. If you feel comfortable then join in. If not then you can always go somewhere else.
I think we will get some soon. Monday would be nice. Sooner or later we will start getting the good news that will make this baby move.
I don't if this guy is trying to spread false information or what but I have never seen anything about them ever doing a reverse split.
Why don't you complain about it a little more? Better yet why don't you contact management and ask them why they have not done an interview? Or better than that why don't you just sell your shares and stop posting?
Thank you. I once read that when a CEO is out doing interviews and appearing in magazines that usually means that something is wrong and they are trying to prop up the share price. Of course they were not talking about penny stocks so that may not apply here but that is the way I look at it. The article went on to say that if the CEO is out doing all kinds of interviews and such then he is not very busy and should have much better things to do with his time.
As far as leaking information goes, that is ILLEGAL. I work for a publicly traded company and we are constantly having to take little tests and surveys from our compliance department about insider information. I know things about my company and would not dare tell anyone. That is a stupid assumption to make about why the share price is not higher.
Yeah I know. We can complain all we want but it won't change anything. All we can do is wait and hope for the best.
I really think that we will be getting some big news soon. I don't know anything but it is just my opinion. LED stocks may be some of the few that will go up in this market. Take Cree as an example which made a nice move yesterday.
Who do you want to interview them? The Wall Street Journal? That is not going to happen. If they did do an interview it would be by some bs penny stock website. I just wish that we could get some meaningful news from the company whether it be an interview or a P.R. The shareholder letter was nice but we are going to need more than that. Hopefully it will come in due time.
I agree that it would be nice if this would move but we are just going to have to wait. If it is going to take off this will be the year that it does it. Look at Cree today. It is blowing up. The LED market should really take off this year and should remain strong despite the market turmoil.
Maybe they are busy. Who cares about an interview with some bs website anyway?
It was a low volume shake as well. Lets go ahead and get some of the weak hands out so we can make a move on the next PR.
I doubt it. The volume is still extremely low. If they were going to dilute it would come after big news and during high volume. You have to remember that when this was sitting at .002 people that bought with a few grand would have accumulated a boat load of shares. I think people are still taking profits on news to get rid of their shares without killing the price. Once those shares change hands we can move up. I am hoping that there will not be any more dilution but it may happen because the company was put in a bad position by NIR. Hence the lawsuit. If the lawsuit goes well I think the company will be able to recoup some shares and retire them. If that is combined with improved fundamentals I think this will go way up. It may take some patience for that to happen but I think this is a very attractive gamble.
Any links? Where did you hear this?
Patience my friend.
We will see. Hopefully it won't take as long as you think.
OS is 552 mill. Fairly large but a successful lawsuit and I think they would be able to recoup some of those shares.
It very well may happen. When I read through the documents it said that if the initial lawsuit is won then CYBL would turn around and seek monetary damages. I wonder when we will find out more about the lawsuit. I don't think anything new has been posted in a while.
I think this is going to be a good year for CYBL.
Thanks. I did not think that applied to CYBL.
I would like for you to provide proof that their lawyers are suing for payment. No one and I mean no one has said anything about that anywhere.
I agree with you. I am not sure what this guy is getting at.
What is that supposed to mean? Come on man. Don't be like that. That article can't be read by people without a subscription.
Lawsuit article from a while back. Very informative.
A small Triangle company has accused a group of hedge funds of scheming to manipulate its stock for profit.
Cyberlux, a Research Triangle Park company that designs and makes lighting, has sued the hedge funds, alleging fraud, securities violations and breach of contract, among other claims. The lawsuit was filed in federal court in New York.
According to the lawsuit, the scheme resulted in Cyberlux losing hundreds of millions of shares of its stock that currently are worth nearly $2 million. Cyberlux, whose shares are traded over the counter, has 507 million shares outstanding.
The "predatory and illegal trading scheme," according to the lawsuit, also "has forced Cyberlux's stock price to fluctuate dramatically and to ultimately decrease, causing serious erosion of the equity value of Cyberlux in an amount to be determined at trial."
"Additionally, defendants' unlawful actions have caused Cyberlux to experience or will cause Cyberlux to experience greater difficulty in securing financing or issuing any debt or equity offerings," the suit states.
The lawsuit seeks monetary damages and aims to stop further action by the defendants, which are four hedge funds that share a corporate parent, NIR Group of Roslyn, N.Y. Its executives could not be reached for comment.
The lawsuit claims that the hedge funds lent money to Cyberlux, in the form of notes that were convertible to common stock, in transactions that began in September of 2004 and continued through July. The conversion price fluctuated with the stock price -- the lower the stock price, the lower the conversion price. Also, the lower the share price, the more shares the hedge funds would be issued.
Such agreements are known as "death spiral convertibles" and are usually issued by small companies that urgently need cash.
The suit claims the defendants manipulated Cyberlux stock by selling the shares short as soon as the notes were converted into stock -- that is, borrowing shares from a broker with an agreement to later buy the shares back at the prevailing price. Selling a stock short enables investors to profit when the share price falls.
That maneuver triggered a "precipitous drop" in Cyberlux's stock price, which lowered the conversion price the defendants had to pay for their stock and led Cyberlux to issue more shares to the defendants than it would have otherwise, the lawsuit claims.
The hedge funds had said in loan agreements that they would not get involved in short selling Cyberlux stock, the suit says. The suit also accuses them of violating restrictions in the loan agreements that limited the amount of shares they could convert.
Cyberlux's attorney, Ernest E. Badway of New York, said neither he nor the company had any comment on the case.
Here is a link to the PDF. It is a little easier to read.
Click on letter to shareholders.
http://www.cyberlux.com/listings.php?id=2800&cid=1400&esi=dfe257a8f6136e5aeb1c5b076bd24734
Wow. Looks like old Corey had a hand in the subprime debacle. Just more reason to believe that he is a snake in the grass and that CYBL may have a case against NIR.