FACT: Tom Wilkinson spent millions in legal fee's and paid MDLG $400,000.000 and gave him 1 million shares for a bunch of CLOK stock that is .25 cents away from zero. Fact: the BOD's approved an $18,0000.00 per month lease in Washington DC for a seven year commitment under Andrew Borene. Fact: the lease obligation is now a big liability on CipherLoc's balance sheet that could hinder any future money raise attempts. Opinion: It would have been much wiser to have proven out the technology and then made revenues FIRST before spending millions of dollars for shares that are .25 cents away from being worthless. Another Fact. Andrew Borene made nearly $375,000.00 for three and a half months of work. FACT: Borene got $220,000.00 bonus on his way out the door for presumably and apparently doing a poor job as CEO or he would still be CEO. FACT: When you calculate the cash burn rate last quarter with the cash remaining last quarter to NOW, that Borene bonus money is more than CipherLoc has in the bank right NOW. QUESTION: Does this look like a BOD's that is increasing shareholder value when IN FACT the BOD's has left CLOK with two poor choices: massive dilution from offering new shares sold at prices 75-80% below the Paulson pipe raise 30 months ago to raise new money OR it's a simple FACT that CipherLoc will have to file bankruptcy because of no cash and $2 million in short term and long term liabilities. FACT: Those two choices are NOT the result of an effective Board of Directors. END OF DISCUSSION.
