Updated "likely" Q&A with Tom Wilkinson!
? Why are you raising money? That's easy! We have an app! Well, we're being used in an app, that's free for 30 days, so, it doesn't generate any income. But we need money to pay for internet to monitor the number of subscribers! And then we're going to blow $6mil on bad decisions and then pass blame on something or someone other than CLOK management!
How much do you need? $10mil, or $8mil, or whatever you can get us, after you take a sick commission for financially assaulting our investors...again!
Where's the $$ from the last raise? Ummm, are you talking about CLOK? Or SONM, or ASTC?? I've blown so much money, I can't keep track of it anymore! Haha!! Oh, sorry, I shouldn't be laughing.
What will you do differently? Hmmm...uhhhh, well...maybe change the background colors and website images?? But other than that, nothing. you wanna know why? Because that's all we know how to do!!
#from2.00to0.18...lastchancelildarlin'
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How an investor would evaluate Cipherloc today.
Option 1 - A likely Q&A with Tom Wilkinson!
Why are you raising money? Just read our press releases! We're doing all of these things with our customer, I mean two customers, and we're getting ready to do stuff in the future! Look man, here's the deal. I'm in over my head and I blew it all on bad hires who were overpaid and unsupervised, spent too much on over-priced lawyers, I guess I don't really know what I'm doing!
How much do you need? As much as possible. Maybe $10 million?
What did you do with the $$ from the last raise(s)? Ummm, ummm...it was the previous CEO, Michael de la Garza's fault! And then I had to pay lawyer's. And then I got stock back from de la Garza and gave him $300,000 and an IOU for another $100,000! But, but, he promised to help me with the lawsuits that he created by lying to people, committing fraud and making promises that he didn't keep. Oh, and then we hired another CEO who, ummm, wasn't a great pick, but he was on TV, so I believed him! We paid him a bunch of money to work for us and also to leave, but it was only for a couple of months or so. Oh, and I was Interim CEO, but then I got lucky and another company hired me, and I've been very successful in running that company into the ground too! What was your question?
What will you do differently if I give you $$? Nothing! Not a damn thing! Can you give me money now??
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Everyone is entitled to their opinion but here are the facts of the matter for Cipherloc. There are only three options to be considered. Since the company is out of cash, it must obviously raise new money. Option1: Raise money and keep the current people in place. Option2: Raise new money and do what TronCarter suggests and clean house and hire new folks. And finally, option3: Should there be no interest in giving CipherLoc new money, it must go into receivership and file bankruptcy. It's as simple as these three options. It's my opinion, the story isn't compelling enough for brokers to pitch and the poor track record of past performance will lead CipherLoc to option3 in the next 2-8 weeks. IMO Option1 is the easiest solution but not the best option for shareholders given the poor performance of past executives and the current BOD driving CipherLoc to it's knees with no cash and no revenues. Option2 makes the most sense because Cipherloc needs competent people on the BOD's looking out for shareholders vs. their own best interest (cya) and CLOK needs new executives that know how to lead people, run a business, build a business, and get to profitability BEFORE running out of cash like now. Option3 seems to be inevitable because brokers are not likely to call their best clients and pitch a penny stock with no cash and millions in liabilities and having so much controversy surrounding it or "too much hair" as they say. But the proof will be in the pudding. Are brokers willing to call their best clients and convince them to take a big risk and invest? Will current shareholders give CipherLoc more new money? I doubt it either will happen but I wish all deserving shareholders nothing but the best.
