2/14/2018 PR “Please review the following sta
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Posted On: 02/14/2018 9:14:38 PM
2/14/2018 PR
“Please review the following status report for SkyFidelity, Ind (SRMX) and TriCascade, Inc.
• As of this morning Northbridge Financial has confirmed that they have sold the remaining shares allocated to them pursuant to the most recent 3a10 order. Therefore, Northbridge has been out of the market since February 7, 2018. Shareholders should understand that current trading activity has not resulted from Northbridge’s sale of shares but is obviously based upon current market conditions and perceptions of the company.
• In order to continue to develop our ground-breaking technology, SkyFidelity has entered into a financing agreement with a new financial partner. This new financial partnership has been widely discussed this week by our shareholders. This round of financing has been required in order to pay off existing manufacturing debt owed by TriCascade, Inc to our manufacturing partners. This round will require the issuance of an additional 75 million SRMX shares into the market starting February 21, 2018. It is unknown whether additional shares will need to be allocated in order to ensure the development and the presentation of the SkiQ device as well as our products to the marketplace.
• A review of our financials will provide proper advice regarding debt obligations owed to our manufacturing partners. This debt has been incurred to develop and produce the SkiQ line of Routers as well as continued development and manufacturing of our Smart Home devices.
• Our goal is to finalize the production of the first five thousand (5000) SkiQs by June 2018. This number of units has been determined based upon our sales goal for the 2Q 2018. This sales goal is based upon current conversations with prospective SkiQ customers. If we can achieve this sales goal, our company will thereafter be able to maintain our aggressive production schedule and sales without further share issuance. To be clear, the five thousand (5000) unit goal is based upon certain communications and demonstrations of the SkiQ device to prospective purchasers. The sale of five thousand (5000) units is not a certainty and no investor should consider it as such. The delivery of the first five thousand (5000) SkiQ devices will be based upon actual purchase orders and the anticipated completion of manufacturing time frames.
• Unfortunately, despite over four months of communication with FINRA regarding our symbol change and name change (the symbol change was issued and revoked in October 2017 due to filing issues with the state of Utah), last Friday, February 9, 2018, FINRA sent our company a list of documents to provide to them relating to SRMX corporate activities since 2008. This request is standard operating procedure but requires time to assemble. Therefore, I anticipate that these documents will be delivered by February 28, 2018. Why FINRA decided to ask for these documents now instead of four months ago is a mystery. Quite frankly all of the documents requested are posted in the state of Utah’s website for SRMX.
• We are excited about developing new relationships in the Telecom world for SkiQ. We are currently testing new SIM technology from other carriers which we hope will provide a new sales opportunity for the SkiQ device as well as our Smart Home applications.
• We are excited about the opportunity to engage in a Smart Home pilot program which will provide SkyFidelity with opportunity to install Smart Home devices (outlet, light switch, etc) in homes in the Tampa area starting in June/July 2018. The purpose of this pilot program is to launch our Smart Home distribution channel to builders and developers in the Tampa and Orlando areas.
Thank you for your continued support for our company as we continue to grow our “I- Bright” Smart Home
“Please review the following status report for SkyFidelity, Ind (SRMX) and TriCascade, Inc.
• As of this morning Northbridge Financial has confirmed that they have sold the remaining shares allocated to them pursuant to the most recent 3a10 order. Therefore, Northbridge has been out of the market since February 7, 2018. Shareholders should understand that current trading activity has not resulted from Northbridge’s sale of shares but is obviously based upon current market conditions and perceptions of the company.
• In order to continue to develop our ground-breaking technology, SkyFidelity has entered into a financing agreement with a new financial partner. This new financial partnership has been widely discussed this week by our shareholders. This round of financing has been required in order to pay off existing manufacturing debt owed by TriCascade, Inc to our manufacturing partners. This round will require the issuance of an additional 75 million SRMX shares into the market starting February 21, 2018. It is unknown whether additional shares will need to be allocated in order to ensure the development and the presentation of the SkiQ device as well as our products to the marketplace.
• A review of our financials will provide proper advice regarding debt obligations owed to our manufacturing partners. This debt has been incurred to develop and produce the SkiQ line of Routers as well as continued development and manufacturing of our Smart Home devices.
• Our goal is to finalize the production of the first five thousand (5000) SkiQs by June 2018. This number of units has been determined based upon our sales goal for the 2Q 2018. This sales goal is based upon current conversations with prospective SkiQ customers. If we can achieve this sales goal, our company will thereafter be able to maintain our aggressive production schedule and sales without further share issuance. To be clear, the five thousand (5000) unit goal is based upon certain communications and demonstrations of the SkiQ device to prospective purchasers. The sale of five thousand (5000) units is not a certainty and no investor should consider it as such. The delivery of the first five thousand (5000) SkiQ devices will be based upon actual purchase orders and the anticipated completion of manufacturing time frames.
• Unfortunately, despite over four months of communication with FINRA regarding our symbol change and name change (the symbol change was issued and revoked in October 2017 due to filing issues with the state of Utah), last Friday, February 9, 2018, FINRA sent our company a list of documents to provide to them relating to SRMX corporate activities since 2008. This request is standard operating procedure but requires time to assemble. Therefore, I anticipate that these documents will be delivered by February 28, 2018. Why FINRA decided to ask for these documents now instead of four months ago is a mystery. Quite frankly all of the documents requested are posted in the state of Utah’s website for SRMX.
• We are excited about developing new relationships in the Telecom world for SkiQ. We are currently testing new SIM technology from other carriers which we hope will provide a new sales opportunity for the SkiQ device as well as our Smart Home applications.
• We are excited about the opportunity to engage in a Smart Home pilot program which will provide SkyFidelity with opportunity to install Smart Home devices (outlet, light switch, etc) in homes in the Tampa area starting in June/July 2018. The purpose of this pilot program is to launch our Smart Home distribution channel to builders and developers in the Tampa and Orlando areas.
Thank you for your continued support for our company as we continue to grow our “I- Bright” Smart Home
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