I met him and accepted his quest to get the cables he's after from the Acid Hunters. Then joined JKK, met Endstrom who assigned me to find the Acid Hunters too. This immediately rendered Phreak's quest to fail. WHY? He just want his cables that happen to be left where the Acid Hunters are, a group he couldn't care less. I thought about doing 2 quests at once, but apparently that's not possible... I don't get it.
Since Phreak's quest sounds like the road less travelled, I'll be reverting to a previous save and won't be joining a faction until I finished with Phreak. I just hope that I will be able to join JKK after I finished with Phreak despite the fact that JKK's reason to contact the Acid Hunters is quite specific. Then I will be meeting with the Acid Hunters again? This makes even less sense than allowing both quests to be done simultaneously. Especially since Phreak just wants his stupid cables.