Shocking this is holding at .0008 PPS.
Ok, well we can say .022, but the honest PPS is the pre-RS price. Why this is isn't .0001/no bid yet is bizarro.
Between the K2 enforcement, which is stark and clear for anyone to read, and the Long Side enforcements - while more complicated - still clearly states a $2 million cash/54-300 million share judgement against NTEK, I'm not sure how much worse it could possibly get for a company whose entire market cap won't cover the damage.
Very telling of the financial duress NTEK is under that instead of paying the $372,000 they themselves agreed to in January of this year (and they had almost 12 months to pay it off), they instead breached and allowed themselves to incur an additional $135,000 now.
Did NTEK think the judge would rule in their favor? Is their attorney completely inept, or is the fact simply that NTEK could not come up with a measly $372K in an almost 12 month period?
Regardless, these judgements are not suggestions, they are court rulings. NTEK cannot ignore them.
So unless NTEK comes up with $2,507,000 in cash quickly and 54-300 million shares quickly, I can't imagine any alternative beyond BK.
And I offer that much of this could have been avoided if David Foley didn't allow his Royal Capital Group greed to get the better of him, stealing from shareholders and companies like K2 and Long Side and lining his own pockets. I put the sinking of this company completely on his felon shoulders.
