to anyone holding skg?, page-4

Why didn't you cut and paste this Bazzaroid ?


In reply to: quiktrade_1 on Thursday 26/05/05 07:36pm

Quik, the email I have from Blass does not mention punative damages, it simply says "whilst all signs to date are positive, the deal is not in the bag until the cash is in the bank."

I have NEVER said there are punative damages.
I said: The contract is binding and they can take legal action for any damages that may arise.
If SKG were to expend $1 to meet their obligations, and Techno failed to meet their obligation (that is to say not deposit the money) then SKG are able to take legal action to recover any associated costs.
Techno imports have sourced the best possible price with SKG and the two parties have agreed (in writing) what their obligations are, which are 100% binding.

The question is, are there any associated costs to SKG ? if the answer is yes then SKG have the right to claim damages.
If Techno imports deposit the money and SKG don't deliver on time then Techo would have the right to claim damages also.

SKG have secured two pre-paid orders, once the first part of the cash is paid SKG will place orders for the products to be shipped, this means that there would be NO asscoiated costs because SKG will not expend anything until they receive the cash.
If however Techno was to increase the size of their order (which Soon thinks is possible), and SKG carried out the work then Techno imports would be obligated to pay.


QUOTE
To answer your questions about either you or Smuggler lieing on stock forums, well I can't say that I've seen any of that


Well, I did ask you to read HC before commenting, so here's one example.
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Post #597463 SKG say they will defer revenue and record it when goods are delivered.

Post #602098 SKG said from Day 1 they will book revenues in this quarter.
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I know you're fond of him, but you're not being very objective are you ?

I have always been truthful, but it seems that you and Bazzaroid don't know how to read, neither of you understand that damages can only be claimed if there are asscoiated costs.
Bazzaroid also made the following statements on HC, every comment is wrong.
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Post #597463 Why if its prepaid, its not included in the current quarters results?

Post #598222 Some contract with a Russian developer.....LOL

Post #599349 SKG has taken on board a $850k loan at 18% and is payable over a very short period.....2 months i believe?

Post #599349 I think this lender wants his money back quick......notice its is fully repaid before the market will hear about the Russian dodgy deal collapses?

Post #598207 $200k in cash they do not have enough cash to last the quarter.

Post #598218 Thats an effective rate of 18%
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QUOTE
Having delt with contracts before, I can say that penalty clauses are quite common but not all contracts contain them

Quik, must we go over old ground ? I have already stated that:
I sign many contracts every year, one thing I can tell you is they are always in favour of the one that holds the cash.
It's the old saying "he who holds the gold makes the rules".
It's very difficult to get a client to agree to terms, but what risk is there to SKG if the client doesn't come up with the deposit ?

This is NOT about the contract, this is about if the client can secure the funds from it's financier, if they can then SKG's price will go through the roof, if they don't it will not be the end for Skynetglobal, it may affect the share price, but my feeling is the bad news (if it happens) is certainly already factored into the price.
If it does dip I'd say it will be a good buying opportunity..........is that what you call ramping

Tex.