Follow the clues in tonights PR:::
...a certain company official has utilized improper accounting methods and reporting procedures while handling critical company contracts. <-- hmm.. contracts are still real? Oh, and we have a young ambitious CEO who doesn't know the details of the biggest friggin and maybe only contract/delivery/payment in the company!!!?!??!
... pursuant to the fulfillment of a third party contract... <-- ok, yes they are real, but confirmed third party...
...none of the products supposedly sold to this third party distributor ... <-- ok, let me get this straight, real contract, third-party contract, but no products were actually sold under this contract?
...it appears that none of the revenues from this contract ever were realized ... <-- oh, I think I'm following it now... real third party contract, but no products sold, and therefore, revenues associated with that contract, but no revenues realized.
... third party distributor apparently circumvented the Company's relationship with its manufacturer in China and secured direct payment and delivery <-- plot thickens.. real third-party contract with no products or revenues, and now this mysterious company cut out the middle man and went direct to collect payment and products from a contract with no revenues??
... ensure that this never happens again. ... <-- you're joking, right? NOBODY is worried about this happening again with CKYS. NOBODY! Damage is done....
If CKYS has $20MM out there that this mysterious company stole, go get 'em JP! You clearly are a smart guy and have surrounded yourself with great YES-MEN! I'm sure one of them can cut you a good deal on a lawyer that can get this money!!
I think I'll order by certificates and then I can save a few bucks on wallpaper for the basement. See, there is ALWAYS a silver lining.
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