ok Fav, first I just want to inform you that 99% of what Kel said was wrong.
1) first of all, none of us lose our shares. What happens is they just stay in our brokerage account until you direct your broker do something with them. If you don't they just sit there. What happens is eventually the ticker symbol will be removed and replaced with a qsep number instead. So, you will see a long number instead of the BARZ symbol in your account. Unless there is a legal order, ordering your broker to do something with the shares, like in the case of a BK, then your shares will just sit there for years. If 5BARZ relists, then they tag the company to the QSEP number and the shares will be tradable again.
You still own your shares in 5BARZ, the company is just private now, and not public. One benefit of this is that we will be hearing from them far more often.
2) You don't need to keep proof of your shares, they remain your shares, nobody can take them from you unless a court orders a different action.
3) You can't necessarily go to a new brokerage, at least in the US. The only option if you needed one would be to send the shares back to the transfer agent, if you do that they are still yours, held by the transfer agent. That is free.
4) there is not a replay of the cc. I took notes. It was short and sweet but I personally liked what I heard. Best to just sit and wait and see if they get funds. If they do that they will re-list the stock on Nasdaq (that's what they said multiple times--Nasdaq, not OTC, which would obviously be great).
Let's see what they can do, they have a large orders (5 Million order) from VodaFone and more from Bharti Airtel. they also have some financing from Keynes for the network extender to fill orders so they have some cash flow. They intend to see a portion of the data business to go into much heavier production.
Personally, if everything the CEO said on the cc is true, then I'm hopeful that we could have a nice investment on our hands still. Nothing has changed with the company. They just got caught in a game of musical chairs with the SEC and got delisted. If we have a real business, and they are able to raise funds we will likely have a nice investment on our hands as long as they don't dilute us in order to raise the funds to get onto Nasdaq, and the CEO made it clear he does not intend to do that to shareholders. it is of note, that the CEO said clearly they could easily raise the funds they need by consolidating the shares and listing on Nasdaq. They could do this today, right now, and have all the money they need to move the router business forward and start mining that data that they have buyers for. That sounds like one worst case scenario, but even in that scenario we wouldn't lose all our money. Not a good scenario, and to repeat, Danny doesn't want to do that.
I'm optimistic and willing to see this out. I like the fact that Dr. Gil Amelio, the former CEO of Apple is still very active and in the picture with 5Barz. I have $140,000 invested in 5BARZ.
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