Kay said the company have enough cash to use until the end of 2017, don't need to R/S.
My email to Kay:
****************
Good morning, Mr.Kay. Happy holiday season.
I believe you are very busy with Strike Force, so i will be as brief as possible, asking a question straightforwardly. In the 10q of 3rd quarter, 2016, the liability was reduced from 14million dollars to about 9 million dollars between Sep 2015 and Sep 2016, the difference is over 4 million dollars. The only major cash inflow was the about 5 million dollars from lawsuit again MFST, and 2.2 million has been used to keep the company running. Where did you get over 4 million to reduce the liability? Is it from the deals you have signed in previous years? Is it regular cash inflow?
The reason why I ask this question is, I wish Strike force has other cash inflow other than sales and lawsuits, and want to confirm my guess. Because according to the last 10Q, the company had only 1.2 million cash in hand on Sep. 30th, which can last about 2 or 3 quarters. Retails don't seem to bring in big amount of cash very quick. The schedule of lawsuits processes shows they cannot be settled before summer, 2017. I am afraid after 1.2 million dollars cash is used up, the company has to raise cash with R/S. If you have been getting cash from previous signed deals, you will have enough to keep the company running. Some people keep on talking about next R/S in the message board, really annoying.
Please explain where you got the money to bring the 14 million liability to about 9 million. Thanks. I can understand if you say you cannot expose the sources. Wish the company has other resources of cash other than sales and lawsuits.
Have a great weekend.
Shalley
********************
Kay's response to my email:
**********************
Shaley
We reduced it with regular cash inflow and the Microsoft gain as shown in our 10q. We have about $7million in debt that we don’t pay and we have enough cash to get through another year through 2017. We also are doing some things with the patents and lawyers where we hope for some monies prior to a year out. We also have other big deals that are close to closing. We don’t see any issues with every needing a r/s.
Thanks
Mark
**********************
