SKYF was at no bid for many weeks, so it's only natural that some longs and flippers will be getting out in the 3s and 4s. Churning on the way back up is to be expected.
Re: talking to the CEO, I have not conversed with Robert Atwell since early March, but back then he responded fairly quickly to email sent to bob@atwellgroup.com ...
At that time, he indicated to me, "We are working on a number of items right now, including setting up the annual shareholder meeting which is where we can get into more details on what is being planned, etc. As stated in the releases, these type of negotiations take time as there are many facets to the transactions. We will keep everyone updated as significant progress is made. We are also working on a new web site which should help with the flow of current information."
The negotiations and transactions mentioned had to do with mergers and/or aquisitions with other companies, possibly involving someone fairly well known in the Chinese networking hardware biz... He was quite clear about that, without laying out his entire hand. Of course that was 5 months ago, and the company's current plan might be completely different at this time.
Atwell also indicated (paraphrasing) that money was tight due to all the banks' commercial lending departments clamming up, and that these kinds of transactions are difficult to accomplish without their help. Obviously, the banks have been loosening their purse strings lately, at least compared to the 1st and 2nd quarters of the year. Getting their money ducks all in a row is always the first step.
Bottom line, (it is my belief that) this company has some capable people on board, but the Company's plans were apparently derailed for a period of time by circumstances beyond their control, and yet, it seems management is still working diligently to get back on track and moving forward. My impression is that these people are not shell gamers, they are go-getters who want to make money. Your mileage may vary, I'm staying in to see what happens.
"The lessons I learn today I will apply tomorrow, and I will be better."
~ Tiger Woods
