Martinas B.

Spammers Fall in Love with Kelyniam Global (OTCBB: KLYG)

by Martinas B. June 29, 2008
klyg_spam.jpgHere at HotStocked we've been closely following up spammers. So today, we have another company that has become a victim of the spammers' attack. And that is KELYNIAM GLOBAL (KLYG.OB). Let's take a closer look inside the company.

The company is doing some mysterious business. On its website, the company bewilderingly states its "long-term business strategy is to maximize the company's annual rate of gain in intrinsic value on a per-share basis greater than could be achieved by conventional methods of investments. Our commitment is to our shareholders, which we view as partners and co-owners of the company." Sounds like motherhood and apple pie with a little mystification thrown in, right?

Well, I think news that the company was awarded a deal to provide wind tunnel models to a Major Helicopter Manufacturer in Connecticut can tell us a bit more. Though, mysteriously, Kelyniam said that the manufacturer wants to stay anonymous.

Unfortunately, Kelyniam's financials don't tell us too much either: as of March 31, 2008, the company reported $63,000 in total assets and $145,000 in total liabilities; and for the quarter then ended, they reported revenues of $5,000 and a net loss of $59,000. From inception (December 30, 2005) through March 31, 2008, Kelyniam reported cumulative revenues of $121,000 and a cumulative net loss of $287,000, for 27 months of operations. Cash flow from operations for the 27 months totaled $15,000. With numbers like this, and a going concern opinion from their independent accountants, I wonder what "Major Helicopoter Manufacturer in Connecticut" (Let's see...could it be...Sikorsky?) would award a substantial deal to a company with that financial profile?

It seems the company's CEO, James Ketner , has lots of optimism though, to take the company to another level. Of course, I hope the company will reach its target and has a long future ahead.

klyg_chart.gifIt is worthwhile to note that Mr. Ketner recently made a public announcement regarding the stock performance. He said that neither the company nor its affiliates are selling any shares .

"Out of the 607,200 shares in Cede & Co, the affiliates as a group hold 430,000 shares; an accredited investor in California holds 130,000 shares; which leaves approximately 47,000 shares. Two close personal friends of mine as a group own over 60,000 shares. "

Obviously, someone is trying to benefit from this spam campaign. The company's CEO believes that whoever is selling stock over the last days does not own it. He thinks they are "shorting stock in order to drive down the price hoping to strike fear into our shareholders to get them to sell their stock."



Comments 2

1. Guest
January 28, 2013, 07:17PM

Quotes Hope you have the integrety to admit you were wrong about this company. Since your report, the company received FDA approval, launched the products, got new FDA approvala and launched more products, and is now poised to really move forward.

2. Guest
July 11, 2008, 04:13PM

Quotes I am one of the CEO's personal friend... everything stated in the letter is true and precise. I own 40,000 shares myself and kknow that whoever else own shares did not sell, all investors I know is on a long position, and no one is interested in selling. We are actually getting ready to buy over $70,000 worth of stock in the cominkg week, leaving absolutely no stock out there to short. We are all LONG!

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