Systems America, Inc.(fka SYAI)

[markanthony]

I think the problem is with S&T, if you read the posts here:

http://forum.aktien-online.at/dcboard.php?az=printer_friendly&forum=124&topic_id=113868

It seems that S&T was a pretty screwed up company right from the start. Dr. Grossnig and his Grosso Holdings GmBH and Austro Holdings GmBH bought up parts of various troubled companies to consolidate into S&T AT and completed the takeover on 11/22/2013 surprisingly the same day that Cloudeeva signed a letter of intent with S&T. Its funny that Grossnig wanted to sell S&T as soon as he took it over.

S&T has been looking for buyers for some time and buyers have walked out of purchasing the company on more than one occasion before Cloudeeva.

S&T's estimated net profit for 2013 is about EU 12M off a revenue of EU 350M which is a pittance by any standards and is saddled with a 1500 employee payroll.

Maybe its a good thing the deal fell through. Maybe "The Americans" just did not show up on 02/20/2014 and slicked their way out of the deal. After all it was Ernst & Young who conducted the due diligence.

Either way, hope Cloudeeva releases its financials and begins getting the company on the rails of NASDAQ.