NTEK would be in civil contempt - yes.
Although honestly, nothing should shock anyone at this point. Looking strictly at the court proceedings and filings in both the K2 and Long Side cases, NTEK is at best a clown show.
Those idiots first broke lawful contracts, then agreed to court supervised settlements, then broke those same settlements, then had (in most cases) six months or more to rectify and pay or otherwise face additional monetary pain. Oh and then failed to comply with enforcement judgements. It's bizzaro.
Case in point, NTEK chose to endure a $500,000 court-enforced judgement against them in the K2 case that could have otherwise been settled for $349,000 anytime between January 2016 and the end of the November. How much of that $349K did they pay during that period offered to them? $12,500.
It is evident NTEK has absolutely no money, and it is rendered FINAL judgement by the courts that they owe millions in cash and stock. And yes, as you stated, having nothing more than Bollywood and z-list Karate flicks would render them irrelevant.
It would not shock me if Foley (via his Royal Capital Shell) turned around and gave his own company the $2 million in cash or whatever - taking a bit off the pile of tens of millions he made from scamming investors though fake loans to his own company - then turned around and actually legit pays off the lawsuits, accumulating a crap-ton of brand new, freshly-minted .001 par value NTEK shares that he can then dump yet again in this vicious cycle of fraud.
The fact that Foley could state in multiple shareholder letters that they did a gigantic debt reduction and almost eliminated it - when he knew full well the company owed millions in cash and stock that dwarf his current debt "reduction" by several multiples - should tell you all you need to know about this scam.
