Replies to post #3450 on CyberKey Solutions fka CKYS

[BirdsOfFire]

Leder, To me, "Piggy-back" means that CKYS will uplist into a shell on the OTC. It is suppose to be cheaper and faster that creating a new position. I am not sure the number of other ways CKYS can uplist to the OTC, but I am aware of one danger that lurks using this method. When you uplist into a shell, you could inherit a dirty shell. Sometimes, the new company inherits the problem of fixing the shell that was mis-managed by the company that gave up that spot.

Some of these shells might have billions of shares attached to them, thus diluting your company. CKYS better be very careful and have an auditor audit the shell if they decide to go this route. A dirty shell can result in lawsuits and missed-opportunities because the company is not focused on their business but instead suing prior owners of the shell.

Their best bet is to have an auditor audit the new shell before a "Piggy-back". That is my understanding and don't know if this is correct.

GO CKYS!!!

[/]I am not a professional trader/broker, so don't hold anything write as truth. I am only repeating what I have heard. Do you own DD.
BirdsOfFire[/]

[RedCloud]

Leder... From what I understand, once the audited financials are complete, they can submit them to the SEC via edgar. Since they are 'Piggy-back" qualified they do not even need to file a form "15c2-11(f)(3)" as long as they remain piggy-back qualified. Here is the text.
RedCloud

http://www.pinksheets.com/glossary.jsp#piggyback

Piggy-Back Rule
A "piggyback qualified" security is one that meets the frequency-of-quotation requirement described in SEC Rule 15c2-11(f)(3). The frequency-of-quotation test or "piggyback" exception is based on whether a broker/dealer has itself published quotations in the security in the applicable interdealer quotation system on at least 12 business days during the preceding 30 calendar days, with not more than four consecutive business days without quotations. Once this criteria has been satisfied, authorized participants may register on-line in a security. As long as the security remains piggyback qualified, any participant may quote the security without a Form 211 submission.