LOL - are you a lawyer? muhahaha - you`re a perfectionist rotating words in others mouths!! Yes, CKYS is halted - I know that fact - ROFL!! I just think she is gonna exploding, when trading starts, again!
SEC Halts Trade on CyberKey Solutions
Posted on Monday, February 05 @ 18:00:00 CST
By Bethany Anderson
MN1 Correspondent
While CyberKey Solutions recently released unaudited financial documents, the Securities and Exchange Commission has temporarily suspended trade on the company’s shares, which trade as CKYS on the Pink Sheets.
The suspension for the St. George, Utah-based company will be in effect from today through Feb. 16, 2007.
“It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of CyberKey Solutions, Inc. ("CyberKey") because of questions regarding the accuracy of assertions made by CyberKey, and others, in press releases and other public statements to investors, concerning among other things: (1) contracts with the Department of Homeland Security and/or other government agencies, (2) revenues received pursuant to those contracts, and
(3) accounts receivable generated by those contracts,” the order for the suspension read.
The company immediately responded to the SEC announcement, saying that it would cooperate with the regulators and provide all the information the SEC has requested.
"We are currently working through our SEC attorney to provide any backup information that the SEC may require and hope to have our stock up and trading as soon as possible," said CyberKey CEO Jim Plant in a statement.
CyberKey’s website says that it partners with “industry leading manufacturers and distributors to deliver secure USB drive-based solutions to vertical markets and content owners, service providers and resellers.”
The company announced Thursday that it was to be featured on ABC’s Good Morning America sometime between Feb. 5-9, where its KeepSafe 2.0 would be highlighted. KeepSafe 2.0 uses fingerprint technology to verify identification before allowing access to anything from handguns and ammunition to jewelry or important documents.
It is unknown how CyberKey’s appearance on GMA will be affected by today’s announcement.
According to unaudited financials for fiscal year 2006 that are posted on CyberKey’s website, the company says it generated over $33,000,000 in revenues and has also reported total assets exceeding $28,000,000, which is a 45 percent increase over the $19,500,000 in assets reported for the first half of 2006.
That $33 million in revenues includes purchase orders for 150,000 CyberKey from various federal agencies, the company said in a Jan. 29 press release.
“This was truly an amazing year for the growth of our company and it is reflected in our financial statements. We will continue to aggressively market our cutting edge security solutions and product line to our ever expanding list of vertical markets," Plant said at the time of the press release.
In early January, the company also announced a joint venture agreement with another Pink Sheet company – Humware Media Corp. (HMWMK) – to “develop the ultimate sports fan experience, which will be marketed and promoted to the Fantasy Sports industry,” a release said.
According to the agreement, CyberKey would receive an equity position in Humware Media, with terms to be disclosed later. It was unclear at press time how or if the joint venture between Humware and CyberKey would be affected because of the suspension.
AI
