Just got off the phone with Michael Burke. I had a 70 minute conversation with him and to be quite honest, I feel alot better about Pocketop after talking with him. I drilled him with most of the questions that I have been emailing him but the keys points were:
1) The stock is being shorted in his opinion. He mentioned that he can go the NOBO list if he really wants to find out who really owns his stock or go the certificate route that forces the MM to cover. Basically, the jist I got is he is trying to build a business and and until the products are launched and revenues start pouring in, he is not worried about stock price.
2) His reason for not revealing the share structure for the time being (until the audit is completed) is because he feels that by revealing share structure, the shorters will know exactly how much they can short, giving them more ammunition (control the share price) as they'll know exactly how much they can short.
3)The new keyboards and chargers are state of the art and will be the best products out there on the market. Pictures will be posted on their website within 30-60 days. He did mention that they are new website (www.pocketopcorp.com) in order to make it transactable for orders, sales, etc.
4)He stated massive shorting happening in BHUB as he is aware of only 20 million shares authorized for the company, yet it trades in billions.
5)The audit will take place and they prefer the OCTQX over the OTCBB. He said an audit will be needed if they ever want to raise more capital in the future instead of selling shares using SEC rule 504. All shares are restricted for at least one year after the merger with USAC took place.
6) The Calgary office is one of their three studios where they develop and test products.
7) The products won't be for sale until the fall so there is no need for a sales team to burn $100,000 per month in salaries. They are trying to keep the costs low, and establish distribution arrangements for these new products.
8) When the LOI with Apparel One turns into a solid purchase order, it will be announced through a press release.
9) Pocketop is debt free, they were financed internally with no help from lending or banking instititions.
There was alot of info to disgest so if I recall some other stuff, I'll post it.
