Replies to post #7183 on AccessKey IP, Inc. (fka AKYI)

[Buell]

Also

I see it looks like the STB is complete

At December 31, 2008, the Company recorded a prepaid research and development liability under a Master Development Agreement. The Agreement outlines the terms by which a third party (“CSI Digital”) is paying the Company $1.5 million to integrate its technology into a set-top box. As of December 31, 2008, the Company had received $1.4 million from CSI Digital and booked this amount as prepaid research and development. As of this date, the Company had spent $483,710 fulfilling its obligations under the contract. These expenditures were recorded as a reduction in the prepaid research and development liability account as of December 31, 2008. The Company completed this project in June of 2009. During 2009, the Company received additional payments of $12,000 from CSI Digital and has booked the remaining $88,000 as an account receivable. In 2009, the Company incurred additional costs of $105,640 to fulfill its obligations under the agreement (the total costs incurred by the Company to fulfill its obligations under the agreement was equal to $589,350). Upon completion of the contract the Company has included the net deferred amount of $910,650 in revenues for the quarter ended June 30, 2009.

God I hate reading about all the defaults on the dept obligations!!!

[Commander Adama]

In my opinion it is bad as I would expect some delays in uplisting - which I btw never doubted they were in a process of doing, ie I don't need that type of "proof" to show that they're doing what they're saying. -- We will see and I hope that I'm wrong but all these experts here on the forum sure know better although the range in terms of expected date is quite amazing to me - anyway, and before somebody calls me a basher (as many of the member on this forum call themselves) or an idiot (as Palmer [or was it Stevens] referred to us here on the board in one of the emails, I don't add anything more and as long as management believes that they can re-sell the returned charger units - which I find very disappoionting as well and I would love to know more about that - I am fine.

Will I sell my shares now? No, I will not as I am not under time pressure and I still believe in the potential of making money with these shares. AMEN