brentjanice: First, let me thank you for all your hard work in trying to get information out of Jim, and posting it here. Next, I have a few things to say about some of the answers you got that I'm sure I'll be jumped all over for by others on this board.
2: The reason CKYS per Jim does not need an FIP govt. number is because they presently sell to a 3rd party source and that third party source sells to the military. (Hope I spelled that FIP thing right).
HUH? CKYS does not sell anything directly to the military, they sell it to someone else? And this is because CKYS doesn't have FIP certification? Why is this the first time we've had any hint of this arrangement? If the FIP certification is why its done through a 3rd party, that arrangement does nothing to solve the problem. The equipment must be FIP certified, not the company. And if he has to sell to a third party to get it to the military, can he explain how this equipment can be donated to the military directly, since he is basically saying they can't use it if it comes from CHYS?
4. Audited financials for all three years should be out any time. He did not give me a definitive date at this time.
I'm assuming that for this year he means through Sept 30th, since if these are audited SEC filings, as we've been promised, the 4th quarter results cannot be audited and filed with the SEC until the quarter is over.
8. Caveat-- Jim said that due to a future possible aquisition the company has set aside 120 million into escrow. These shares are restricted for two years. Now if anyone knows anything about escrow by buying a house you can put two and two together and figure out without Jim telling me or anyone that its probably a pretty good bet that escrow means a possible aquisition is closing soon. Hey thats the conclusion I would come to as I have bought and sold a lot of houses and hey I am no rocket scientist but maybe just maybe we might see a PR down the road addressing the possible aqusition. If and I say if this were to happen then the Outstanding would be 700 million with 120 million restricted for 2 years.
This escrow stuff is nothing I've ever seen done before. If he wants to issue 120M shares that are restricted for 2 years (don't know how you get them restricted for more than 1 year), he just needs to file a registration statement for the shares, and stick a copy in his desk drawer. There is no reason to put them into any kind of escrow, or to restrict them for 2 years (do you think anyone selling their company for shares wants to wait to be able to cash out - not many do). As far as I know, Shares used to buy a company can be issued as freely trading shares. It's done all the time.
Just some opinions about what Jim said. Again, I do appreciate your efforts, if not everything Jim says.
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