Posted On: 04/17/2014 4:08:49 PM
Post# of 36729
This post refers only to SKTO. The price of SKTO did rise on fins publication to 0.033, but declined thereafter. There are likely a number of reasons why.
In no particular order of importance here are some possibles:
1) Fins not audited.
2) Bad debt of $25m reported, apparently from uncollectable accounts receivable.
3) Net receivables of $27m likely viewed with dose of skepticism given 1 & 2.
4) Fins show SKTO Chairman Kevin Allyn left the building. No explanation given by firm, or an 8-K as required by OTCM for Current Info Pinks like SK for this material event.
5) Half-million dollar cash promo campaign, begun April 9, implies many millions of SK shares are slated for sale.
6) A/S raised 750m to 1.25b on 01/01/2014 -- 500m increase. O/S 697m on 04/04/2014 per 8-K. It can be deduced from merger agr't 8-K that iequity convertible preferred not the reason for A/S increase. Merger agr't contains exceptions allowing issuance of shares. 8-K schedules containing details of exceptions not included in OTC 8-K, which is Exhibit 10 of full 8-K.
In no particular order of importance here are some possibles:
1) Fins not audited.
2) Bad debt of $25m reported, apparently from uncollectable accounts receivable.
3) Net receivables of $27m likely viewed with dose of skepticism given 1 & 2.
4) Fins show SKTO Chairman Kevin Allyn left the building. No explanation given by firm, or an 8-K as required by OTCM for Current Info Pinks like SK for this material event.
5) Half-million dollar cash promo campaign, begun April 9, implies many millions of SK shares are slated for sale.
6) A/S raised 750m to 1.25b on 01/01/2014 -- 500m increase. O/S 697m on 04/04/2014 per 8-K. It can be deduced from merger agr't 8-K that iequity convertible preferred not the reason for A/S increase. Merger agr't contains exceptions allowing issuance of shares. 8-K schedules containing details of exceptions not included in OTC 8-K, which is Exhibit 10 of full 8-K.
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