Gary would you explain the following for me please.
Originally, CBQ issued 7,650,000 shares of common stock and now it is 7,800,000 shares, why the additional 150,000?
An additional 150K was paid to resolve a SOCT court dispute is all I can say. Thus the amount of shares issued shows the total associated to the acquisitions.
Also originally CBQ stated it received assets valued at $1,930,023 and now its $1,794,748, that is a loss of 135,280 or 7% loss in value. Will CBQ make adjustments in the deal?
According to the 8K it states 1.5M of the 7.8M issued which is 19% CBQ gets back for misreprestations. I guess you could say the misrepresentations of 7%, CBQ gets 19% of the stock back.
As far as the rest the original figures they were unaudited and what was represented. What is in the 10Q is audited.
Both had this disclaimer, ”The allocation of purchase price include certain assumptions and preliminary estimates and are subject to change.” Why is that?
I have advised the company and they are getting in touch with right person. Appears they did not delete that out after revising that paragraph with the audited numbers. Also they are letting the accountant know about the 105K vs the 764K error in the current Long-term debt.
In the news release, it did not have the word 'exclusive' on the U.S. distributor arrangement and states China Soft as an affiliate. Can you respond to these two points?
Yes, the arrangement is not an exclusive at this point. Also Bart stated he did not ask for it yet. Superior is due to come to the US in November for comdex and probably be discussed at that time. ChinaSoft is a subsidairy but Bart was unavailable when I got the release and I am not authorized to change the wording. That release was approved by the Executive committee and that is how I put it out.
Why wont Bart give projectionson the revenues of the Superior Distributor deal?
Bart has not made projections on revenues that I know of since he has been at the helm of the company. He has targets but has not expressed them. He has learned if he mentions targets suddenly they are cast in stone whether it be time frames or numbers. The best way is to not make projections and let the time frames and number be what they are and thus no fluff.
BTW great work on the interview, but will it be on your website when you update it?
Yes I am updating my website information and there are things that are changing and as I get the specifics I will modify my website. I hope to have the website doen shortly but this week has been a nightmare for time management.
Hope this helps
CIIR cash & restricted stock
:=) Gary Swancey |
