CEO Michael James committed BLATANT FRAUD & got away with it!
The sad fact is nobody will step in to save the company with all the debt that has mounted up on this now empty shell. I have done everything to try and convince the SEC to investigate the blatant fraud committed by CEO Michael James & CMO Jim Kras who walked away without a word to their partner TRTC & sold NRTI's assets to them under a newly created LLC company and buried in one of their 10k's.
Just the simple fact that they put out PR's stating Nulief was available for sale, when they never even manufactured it, is straight out BLATANT FRAUD. Seems the SEC has decided to back off on investigating MJ related companies and issue a warning to the dangers of investing in a mj related business. Their reasoning is based upon the differing and fast changing laws surrounding the legalization of mj & hemp products.
Only problem is the fact that this is a case of company issuing PR's stating the product is available for sale in dispensaries while knowing they haven't even produced the real product! I don't care if it was mj related, this is a case of blatant fraud in an attempt to boost the share price so they could sell their shares! There isn't even a question about that!
Everything is right there for everyone to see that proves this beyond a shadow of a doubt! Then there is the case where the CEO Michael James secretly created a new LLC company, Therapeutics Medical LLC, a month prior to selling the assets of NRTI to TRTC under this new company he had just created, to recover what he loaned to NRTI. How on earth is that legal? IT ISN'T!
But the SEC won't as much as look into it, since it falls under the mj related business investing dangers they warned about. So basically it comes down to giving every mj related company a free pass to do as they please without any fear of the SEC talking any action against them! It is the most despicable and illogical thing I have ever witnessed from the SEC. They are leaving it in the hands of shareholders to file a class action suit before they will even begin to look at what happened.
Thus in the end, every NRTI investor gets screwed, while the con artist, Michael James, gets to strip the company of its assets and take the money for himself in a secret backdoor deal w/TRTC, where they both are currently employed to date! Given the fact that Michael James was also CFO for TRTC while being CEO of NRTI, made it very easy for him to pull this off. This is so wrong and illegal, it just blows one's mind! JUST SICKENING that the SEC won't act!
