Northstar Electronics Inc (fka NEIK)

[Pat]

It's been a "future oriented" company for years now .... and, unfortunately for investors, it always will be. <G>


Pat

[aidytrader]

Adding experienced people to their board who have proven in the past they can cultivate sales? Following through on what they said in their last 10k? I’d say things are looking pretty positive at these prices. One report filed with SEC and they’re back current. Risk/reward is most definitely there

[Pat]

There sure are a lot of dreamers here.


Pat

[aidytrader]

Seems like a lot of things going on behind the scenes here. Expecting a major move here soon

[WHITTENHALLJR]

Does this IP address have something to do with these new appointments? $NEIK

[xstream]

Isn't this interesting. A new CEO/President and Board member. This could easily get to a $. The float is only 47.32M shares and 127M shares issued. Something positive must be happening to get someone to take the position. This will get interesting.

[aidytrader]

It was probably a fake wall anyway. Who sticks up a big block like that at the end of the day Friday if they really want to sell it

[WHITTENHALLJR]

That did look mighty tempting... $NEIK

[T4KingOff]

I snagged some, connections look really good. Surprised no one took the 600k block off the dummy selling at the end

[MADDSTACKER]

Sweet

[WHITTENHALLJR]

$NEIK alot won't see until over the weekend >> big Monday instore

[aidytrader]

Like the military contracts bit. Seems they’re following through. Big things ahead by looks of it

[aidytrader]

Worked at Lockheed Martin. They said this was the direction they were moving in, in their last 10K so good to see them following thru on it

[ANTI-BAGHOLDER]

Customers with Lockheed and Martin as well has new board member from Lockheed and Martin.

$NEIK From there last 10k, new direction and the new board members point to it. pic.twitter.com/WP4XN8Omsa

— Lee (@ldev117) August 28, 2020

NEIK

[WHITTENHALLJR]

$NEIK

[aidytrader]

New boards member worked at Lockheed Martin. Great addition in my opinion. Super low float here moves on air

[makinezmoney]

$NEIK: Woooooooooo............. late day monster pop


Now $0.025............ look at her go



GO $NEIK

[MADDSTACKER]

News out new board members ... worked in aerospace .
Other then that don’t know

[ANTI-BAGHOLDER]

What’s up here??

[MADDSTACKER]

Aerospace guys getting involved

[xstream]

Any updates? Looks like this one is over.

[swampboots]

NEIK up 88%?

[shamalamadingdong]

The Dr had a falling out with Robert Patterson, Patterson Systems, and PattersonAeroSale and three other key people associated with the turboprop deal, on 10/16/2019. Here is the link, www.nslaero.com scroll down to the bottom of the page to read.


THIS ^ site - it is now DE-ACTIVATED!

The owner of this domain de-activated this site - here is the background ......

Five years ago, we were approached to handle Marketing & Sales for a Canadian certified single-engine commercial turboprop, working with Northstar Electronics Inc. (NEIK), a partner in Northstar Sealand Enterprises Ltd. (NSEL). While trying to negotiate an ongoing consulting agreement, we prepared Sales & Marketing Plans, designed a corporate logo, and created 2 web sites. No agreement resulted, although we were awarded various perks & bonuses/incentives, for which we continue to await payment.

Effective October 16, 2019, we have terminated our business
relationship with Northstar Electronics Inc. and revoked all their rights of access to all Intellectual Property that we have prepared and shared for this project. NEIK and NSEL are expressly forbidden to use any of our I.P., and all references to Robert Patterson, Patterson Systems, and PattersonAeroSales, particularly any representation of employment by NEI, contract or otherwise. Our I.P. includes the programming for the website NorthstarElectronics.com, which we have requested to be taken down. At the time of our termination of the business relationship, 3 other key people also terminated their business relationships.
We are looking for new opportunities in Aviation - marketing, startup management, & new product lines.
Web: www.PattersonAeroSales.com

[pepeoil]

Where did you go bubba?

[shamalamadingdong]

Looks like this stock is headed into the Abyss! Really sad given that the Dr. had put out such great expectations for this company.

[dontknowsht]

kinda low down here. Bidding to see if i can grab some.

[wedman]

Yes !

[Pat]

"Is there any hope at all for this?"

uhhhhh, yeah. The contract is in the mail. Trust me.


Pat

[peoria bud]

Is there any hope at all for this?

[xstream]

Anyone have an update? I did hear from another shareholder that Dr Russell does not sound well.

[ChuckBits]

I have no clue...

[xstream]

The 10k has two site listed. One is in Virginia Beach, Virginia which appears to be just a front (Google shows it as a small eye clinic) and a location in Vancouver BC (this appears to be a virtual office building where you can rent a room as needed).

Question - where are the Ron Covais advisor on the NEIK org chart? Or, where is Brad Chislett that put up $230k?

[Pat]

"Looks like he is still "planning on constructing a plan to plan for the plan of an airplane".

Precisely! Look closely at all of the past PRs. They contain the same type of wordsmithing. The PRs consistently describe "process" in a manner that makes it sound like "accomplishment" ..... when nothing has been accomplished. This has been going on for years.


Pat

[ChuckBits]

In that PR, he says they "secured" the IP, but before he said that, he said this:

*

Northstar is pleased to announce that it has signed an agreement with a global leader in the aerospace industry, to enable a cashless acquisition of worldwide rights for a family of single engine Turbo-Prop industrial aircraft.

Northstar is now working with that company to secure the approval of this agreement for credit under international industrial offset commitments, and to make contractual arrangements for key technical support services as we prepare for production.

*

"Working with the company to secure the approval", blaa, blaa, blaa. I think he's saying it's based on the phantom company agreeing to some kind of stock deal for the IP? They never announced anything along those lines & still say they have no financing in place.

Looks like he is still "planning on constructing a plan to plan for the plan of an airplane".

[xstream]

I found this in the last PR they put out. Take a look at the sentence where Dr Russell says they have secured the IP Rights. This is not forward looking. It says they have secured the IP Rights. Question - With who? There must be a value to the IP, what is it?

Northstar CEO Dr. Wilson Russell comments, “This is a special milestone for Northstar in our plans to become a global player in the aviation field. Having secured the IP Rights, we can now focus on working with the overseas company to eventually reach the stage whereby Northstar will be manufacturing the Aircraft.”

[xstream]

Why does he keep filing quarterly/yearly SEC documents when you have had nothing going on for 8-10 years? No revenues, No employees, No deals. Makes you wonder.

[ChuckBits]

Definitely not an expert either and don't want to sound like a "defender" of the "company" ('cause I don't think there is a company here), but it looks like the $120k got "added" to what he is "owed" & not actually "paid"?

One of the many unpleasant things that jumped out to me is the non-reporting of "foreign business/bank" stuff. Whatever that is, sounds creepy, including the potential $50k penalty:

*

The Company did not file its U.S. federal income tax returns, including, without limitation, information returns on Internal Revenue Service (“IRS”) Form 5471, Information Return of U.S. Persons With Respect to Certain Foreign Corporations for the years ended December 31, 2007 through 2019. Failure to furnish any information with respect to any foreign business entity required, within the time prescribed by the IRS, subjects the Company to certain civil penalties.



The Company did not file the information reports for the years ended December 31, 2007 through 2019 concerning its interest in foreign bank accounts on TDF 90-22.1, “Report of Foreign Bank and Financial Accounts” (“FBARs”). For not complying with the FBAR reporting and recordkeeping requirements, the Company is potentially subject to civil penalties up to $10,000 for each of its foreign bank accounts. During the year ended December 31, 2019, the Company accrued $50,000 on potential penalty for failure to file the form TDF 90-22.1. In addition, because the Company did not generate any income in the United States or otherwise have any U.S. taxable income, the Company does not believe that it owes U.S. federal income taxes in respect to any transactions that the Company or any of its subsidiaries may have engaged in through December 31, 2019. However, there can be no assurance that the IRS will agree with the position, and therefore the Company ultimately could be held liable for U.S. federal income taxes, interest and penalties.

[Homebrew]

I'm not following NEIK...Just glanced at horrible financials.

[xstream]

You would think Dr Russell would give an update, because this is bad. You would also think investors that put up money would start filing suits. Whats your thoughts?

[Homebrew]

$40k Assets, $5.3 Million liabilities.

[xstream]

Anyone have a comment on the 10K. I am not a financial expert, but here are four big issues:
1) lost $580k in 2019 with zero revenues and it looks like Dr Russell paid himself $120K.
2) Looks like the Dr Russell $120k came from the reserves he got for selling restricted shares in 2018. Who gets paid $120k with zero revenues and does not appear any deal is being worked.
3) No employees. They state they have consultants (maybe should fire them and get someone who can get a deal done).
4) Take a look at item #6. It talks about forward statements and words used in the past. Appears they are saying, we are putting out information that never comes true.

There are many more - Appears they owe the Canadian government millions of dollars.

[xstream]

10k is out. Interesting. Why? Shows nothing. But I did see Dr Russell paid himself a lot of money and accomplished nothing. Sad.

[Pat]

"Why would they want a sprinkler repair guy on the board?"

Stop the press leaks?


Pat

[pepeoil]

Why would the want a sprinkler repair guy on the board? Lol.

[xstream]

Do any of the NEIK "advisors" or "Consultants" ever say anything? Or does anyone ever talk to YES INTERNATIONAL that is listed on his PR's?

[pepeoil]

Jim Dondero with Highland Capital has a sprinkler repairman claiming to be him. Be careful out there of this Dale Churchill guy, who claims to be the Humanitarian of the year in Dallas. Lol

[pepeoil]

Yep, I heard Jim dondero with highland capital was offered uuuugeee money to be on the board, but he was busy hanging out with warren buffet

[Highland]

I know there was one in the past. I was asked to become a member. Just didn’t have time. I’m not up to date on that issue.

[xstream]

Board? I cannot find any filing that there is a Board. It looks like Dr Russell is the only employee and the only Executive. Unless someone else can tell me something different.

[paytheask]

I have 4 Mill doing a PP with him, praying for him and his mental capacity moving forward provided he is ok. If not I hope he has a competent board.