CLOK Facts, Current Status, Current State of Affairs
CLOK has created an SDK with its patented technology. That's it.
It is my understanding that SoundFi is the only current customer.
CLOK has shown demos in the past, however, I understand those demos to be private marketing demos, not functional, stand-alone products. Much of what is shown on CLOK's website is vaporware, ie, it supposedly can exist, in theory, but doesn't.
The sales pipeline must be validated (as stated by another poster), and there are a couple of big deals in the pipeline, but they have a very long sales cycle (1-2 years).
CLOK management is likely spending time addressing problems stemming from the previous CEO, Michael de la Garza.
MDLG signed agreements without Board consent, paid personal and non-business expenses without Board approval and in complete disregard of his fiduciary duty, and ran the company and company accounts as if they were his own. CLOK management must spend time to "clean up" de la Garza's mess.
MDLG issued himself shares without Board approval.
MDLG gave himself money without Board approval and in violation of his fiduciary duty.
Albert Carlson was also in violation of his fiduciary duty by allowing MDLG to run the company the way he did.
Albert Carlson and his son need to go. They do not add any value to CLOK.
Ron Coby seems to be a legitimate salesperson who now has the support from Milton Mattox and CLOK management to make meaningful sales. Mr. Coby did not have this support during MDLG's tenure.
Milton Mattox seems to have the professional background to bring value to CLOK.
Tom Wilkinson did a great job to take over as Interim CEO and address the high priority items (MDLG issues, 10-Q filing, auditor issues). He took a reasonable salary as Interim CEO and accepted an opportunity that had probably been in the works for quite some time.
Gino Mauriello has and had close ties to MDLG and needs to be cut from CLOK, in my opinion.
It is my understanding that the DC "team" has been dismantled.
CLOK needs some solid, experienced engineers to take the reigns and be able to support current sales efforts. Without that, I do not see how CLOK can make a big sale.
It is my understanding that most of the "fat" has been cut from CLOK.
CLOK's operational burn rate has gone down significantly.
