to anyone holding skg?, page-11

the facts Bazzaroid, to date I have not posted anything that is incorrect.

The facts are these, SKG has signed an agreement to supply 10,000 apartments with various home automation products @ $2300 U.S. per apartment.
The deal is dependant on the client handing over the money on or before June 30.
SKG have sent me an email confirming that the deal is not done until the cash is in the bank.
I have stated this more than once.

Cornell had approved a loan facility worth $14 million back on the 18th of November 2004 and later increased the facility to $20 million on the 3rd of March 2005.
The Deal with Techno was not announced until the 21st of March 2005, some 4 months after the funding was approved by Cornell. To date SKG have drawn down $1.3 million on the AIM and $890k on the ASX.
The $850k is paid back in shares over a peroid of 16 months.
Skynetglobal were legally obligated to release the news of the Techno deal, even though they wont receive the cash until late June.
The market obviously feels that the deal will not come to fruition........I think that's obvious to all concerned.

SKG will generate approx $1 million in customer receipts this quarter and their operating cost are around $771k per month, which should leave them with a nett balance of around $230k........plus what ever cash they have left in the bank.
They had $208k in the bank on the 31st of March plus a further $850k injected by cornell on the 26th of April.
This gives them a cash balance of $1.058 million plus $1 million in receipts = $2.058 million less $771k in costs = $1.287 million at the end of June.
Now I would love them to land the cash from Techno, but if they don't it will be business as usual.

SKG have business operations in Australia, Malaysia, Singapore, and the UK. The ASX market cap is $8 million.
If they close this deal they win big time, if they don't close it they will survive.
SKG are trading at an all time low, but have never been as healthy as their are today,the Techno deal would just be a welcome bonus.

Those are the facts.

I have no interest in debating you about Rugby league or race horses, we have a seperate thread on SS for off-topic subjects and you are welcome to join any time you like ;-)