CSMG Technologies, Inc (fka CTGI)

[micah211099]

Just a synoposis for everyone who wasn't able to listen in. Also the call is going to be posted online for anyone interested. My take...in short everything depends on funding from private equity markets and the company is in need of about $250k for short term. I think i am more positive than I was yesterday but I still believe we have a long way to go. Also related to the funding below, Bruce basically said it would cover about 120 days for CSMG to keep up on all licenses, patents and agreements. If it takes longer to get the ball rolling on LTC than that then something is seriously wrong.


From Bruce
-company owned about $3.2 million from Don's tenure
-back wages to all Cali employees as well as taxes owed to IRS and state of calif for over $2 million
-100k owed for big offices in B of A building in corpus cristi
-20+ claims the company has cleared out
-still owe $800k (i gathered mostly to IRS and Cali)
-Atlanta and New York companies in negotiations for licenses and funding towards LTC
-Japanese company presentation in the new few weeks

From Mr. Piazza-6 months from funding to launch
-Still very excited about LTC
-18 months to the true tissue product it views as the money maker
-team still ready to commit
-still working on funding in private equity
-first presentation in the next few weeks to several private equity groups

Carbon Capture-pretty sure we're #1 for ADA (bruce's words) at worst #2
-ADA indicated they would like to be a strategic partner if this thing takes off
-Working on secondary markets like rebreathers

For CSMG-Spin off of company
-$20 million tax carry forward
-another breast cancer product in the pipeline from georgia state university
-rebreather about $500k to get to market
-directors all put in about $75k in dec
-since about $100k additional
-aegis backed out about 6 weeks ago which is why they are still searching for funding
-currently offering 10% convertible note (2 shares at 50% of new shares of CSMG which would be post any PE dilution) + warrant to buy additional share at 50%, used to cover need for short term cash
-7-10 days for LTC audit
-CSMG and CCTI need audits still