Madmax, another possibility is that ckys has set those 120,000,000 shares aside to buy the $3.6 million note owed by squm. Coincidence that .03 x 120 million equals the note amount ? Squm just signed a forebearance agreement two weeks ago, which basically satisfies any interested buyer that squm owes the money and has no claims and defenses to offset the amount owed under the note. That paves the way for a purchase of the note. Squm secured "all assets" under that note. So one has to look at who is involved. The present squm noteholder is an executor of a dead man's estate. The dead man apparently liked to take risks and to let his note ride. The executor however is obligated under the law to make sure the estate assets are not invested in risky instruments and eventually convert estate assets to cash to distribute to the heirs (usually no more than within a year). I think it safe to assume that the executor wants to sell the note if squm cannot pay it in the near future. The executor probably does not want to get involved in squm chapter 11 bankruptcy proceeding. I am sure the heirs want the cash now and don't care about squm. On the other side we have ckys. Ckys has a vested interest in seeing squm succeed as the manufacturer of some of the products ckys sells. If the squm note is called by the executor, that can jeopardize ckys' souce of manufactured goods. Ckys can step into the shoes of the executor, by buying the note and in doing so gets a first lien into all of squm's assets. Ckys can then extend squm's maturity date. That gives squm time to get on its feet, and if it doesn't , well ckys can call the note months down the line and force a squm bankruptcy and end up owning everything for the cost of the note (including the patents). So, in addition to a buyout of squm, there is also the possibility that ckys is just going to buy the note for the time being. Ckys has also had a relationship with hisc which bought the shell company evans systems (evsy). Evans was suppose to buyout telecents but there has been no indication that the deal is still on. Hisc bought this bb shell for $500,000 and is probably now strapped for cash. If ckys could take this shell off hisc's hands, that too could be used by ckys to get to a higher exchange. All of the above is speculation, I have no inside facts whatsoever.
