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This company has diluted 319 million shares in 6 weeks. Outstanding went from 670,246,929 on 4/30/13 to 989,346,929 on 6/19/13. That is over a 50% increase in outstanding shares in only 6 weeks. The company has no money and will continue to dilute to finance operations according to latest 10Q, see cut and paste below. I wanted to buy until I saw how bad they were fleecing share holders. From the latest 10Q:
2. Going Concern
These financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. During the period ended April 30, 2013, the Company has an accumulated deficit and no revenue. The Company is in two lines of business, renewable energy solutions and the beverage business. The Company is in the business of developing, producing and providing clean, renewable energy solutions in Central America. The Company participates in and invests in development projects with other companies in clean, renewable energy projects. On October 16, 2012, we added an additional line of business, Level 5 Beverage Company, a progressive specialty beverage retailer. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.
The Company intends to fund operations through equity and debt financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ending July 31, 2013.
Just don't miss the buy point if VNDM is finished for good.
You're not getting it!! I don't care if VNDM is gone or not. He can leave for awhile then suddenly show up again in a flash. He isn't the reason I won't buy. The reason is that the company PR's have to truth or proof. They say what they want but nothing can be verified. If they announce any new contracts, or any new sales, those contracts or sales must be verifiable. Nothing, and I mean nothing this company has said is verifiable. They don't tell you who is buying their product in their PR's and there is no verifiable contact info in their African BS, PR's. It stinks like most pinks. This exchange is probably about 99% dirty. Buy at your own risk.
No beef with the company or the CEO. I was gonna buy until I did some DD. After the DD, I saw through the smoke screen and just relayed that info to this board trying to help some keep from losing hard earned coin. That's all there is to it.
I just post my opinions as truth as I see it. I am not negative on stocks I like. This company has no proof of any of its PR's. They do not even mention who is buying the big ticket items. That is a huge red flag that experience can see. Their African ties are not proven. There is no way to DD what they are saying.
If this company had 10% of truth in their PR's, they would at least be current on Pink Sheets and would not need to dilute. Instead they have a yield sign staring in their face. I don't care if you or others buy this stock, you might even get lucky for a short period of time. But, all one has to do is look at a chart on this company and you will understand which direction it is going. Right now there is a normal reaction to the down trend because of the unproven and probably bogus recent PR's, but that won't last. You will be trapped and forced to sell at a loss.
That's a very interesting letter. I like the potential, potential of this company. I was planning on buying if DD allowed. Upon doing some minor DD, I have a bad feeling about buying this company shares. First of all, the 10Q dated 4/30/13 indicated there were 670,246,929 shares outstanding. (670.22 million) That's not bad considering. But, I then went to OTC markets and looked up MINE. According to OTC markets, as of 6/19/13 there were 989,346,929 (989.3 million) shares outstanding with 2.5 billion authorized.
Think about this, this company diluted 319 million shares in a 6 week period!! That's more than a 50% increase in share base. So, if you bought 1 million shares early April, your holdings have been diluted over 50% so it's like you just lost over 50% value of your holdings.
Obviously, this company will continue to dilute. No matter what this company does with future product sales, they will sell shares to whomever steps up to the plate. According to the Apr. 13 10Q, they have no revenues and plan on financing their operations with continued dilution. That means that this will become a top-heavy bomb that can implode at any time. Below is a cut and paste from the latest 10Q:
2. Going Concern
These financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. During the period ended April 30, 2013, the Company has an accumulated deficit and no revenue. The Company is in two lines of business, renewable energy solutions and the beverage business. The Company is in the business of developing, producing and providing clean, renewable energy solutions in Central America. The Company participates in and invests in development projects with other companies in clean, renewable energy projects. On October 16, 2012, we added an additional line of business, Level 5 Beverage Company, a progressive specialty beverage retailer. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.
The Company intends to fund operations through equity and debt financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ending July 31, 2013.
If you call honesty; negativity, then so-be-it.. Some only look at one side of the coin and assume the other side looks exactly the same.
I see another day of consolidation before the big dump. Hold this pinky fraud and lose all.
I post what I believe to be true about a company that issues incredible news yet dilutes and never proves a thing. It's not about you or me, it's about this lying company. Stay long and lose if you choose. Then we'll see who's really the intelligent one.
Down on great news? You know what that says, right? Such great numbers and they are diluting? Wait a minute, all one can do is shake his head. How can this be? Well, I doubt there is a shred of truth to that news release. Why would they need to dilute and promote if they are making that kind of bank? The market knows, that's why the stock was down.
If those financials are not audited by a reputable accounting firm, then yes, that is exactly what I am saying. On this exchange, you can post or file anything with pink sheets, PR anything or just lie out your can and nobody is gonna spend the big bucks to prove you either right or wrong. This more than likely isn't a construction company, but none other than a company selling shares to bilk investors like about 99% of the company's on the pinks. People trading or investing in these type of stocks usually learn hard lessons once their brokerage accounts are wiped out. But I know not many of you will listen.
You just don't get it. It is a scam. I've been around a long time and have seen this film many times in pink and OTC land.
As far as posting over and over again, that's really not true. Once or twice a day is all and I'm entitled to my opinion. Anyway, if you and others didn't think I was right, you wouldn't be so defensive. Apparently, you have some raw nerves concerning the truth.
I wish you luck.
You will all be bag holders. This is a scam.
The numbers are most likely a scam. Nothing this company has PR'd has one shred of proof attached to it. If this company was making any money at all the first thing they would do is get right with pink sheets and get that yield sign removed.
I wish you success.
Where are you in at?
SPOM real company not trying to kill the SS like most
Are you kidding me. This garbage company will soon be doubling that authorized share base.
Man, I am really glad I decided to sell for a small profit when this was still above .02 cents. This company is way too willing to do private placements and kill the share price further. This stock is a dead dog at best.
It's old debt holders converting and selling shares, not the company
That can be worse than the company selling. Debt holders short the stock driving it down and cover with converted shares. Very profitable for those scum. That said, how do you know the company isn't selling? It could be a combination of both.
The stock is getting really oversold as well now
With a diluting pink like you guys have here, the chart or the fact this is way oversold doesn't matter. The company is selling itself for 1/5th of a cent per share and they could care less about any shareholder or shareholders.
Can't you guys smell the stench here? The info that has been published here cannot be verified. The company is hurting way more than it wants you holders to know. They will continue to dilute. This will eventually see trio zero's.
I agree with you on this one Surf.
but suddenly when VNDM shows up out of nowhere,
I have nothing to do with VNDM. Were they on the ask again today? I didn't look at this all day.
Can't say I haven't been right about this POS. It will continue to trend down to trips because nothing this company has said is verifiable. It's a pink sheet yield sign dog. Hold it and lose.
With some big contracts it will go to 3 cents. IMO
You mean contracts like this company has already put out where there are no buying parties named or another contract like Africa that is virtually impossible to verify?
Dude, there were under 3 million trading hands today. Probably more selling from people wising up rather than dilution. The real dilution will start again once volume returns, if it ever does.
I guess once it's over AMMX MIGHT turn north.
You have a 50/50 chance to be right. If you dig deep though, you will understand just how much the odds are stacked against you.
That's how they sucker you in. It's called smoke and mirrors in pinky land. This stock isn't even pink sheet current, that should be your first clue.
I really thought the T Trades from Friday would have woken some peeps up!
Did you see the close, they probably did. People are quietly expressing their opinion. More of the same coming.
Every time I have posted chart opinions on this and HHSE I have been right. That said, I'm due for a slap-down so here goes.
I think what happened today was a shake before the breakout. I'm not saying NTEK will breakout tomorrow, but I think we are close. Reason I am saying this is because the stock has been bouncing off the recent short-term upper trend line that has formed using the high of .1395 as the upper most point. The lower trend line is at about .055 but the stock has formed support above that line and refuses to break below support. The stock formed a bullish flag pattern with a low of just below 5 cents which it has rejected and now refuses to go below about .06 cents.
Looking at the chart indicators, the MACD is still moving down but is close to bottoming. MACD is a lagging indicator and when a stock like this is consolidating the MACD often times is still heading down when the breakout occurs. The CCI is almost exactly where it was before the stock ran from .00's to .1395. Stochastics have bottomed and turned up. Most other indicators are either neutral or becoming oversold. I personally see volume picking up and a breakout happening before much longer.
if all what they say is true.
Come on, you should know better. If what they are announcing was true, they would mention both parties in the news release. The Africa thing is also something they use because it is almost impossible to verify. Buy if you want, but this stock smells worse than a sewage processing plant. It's a double zero pinkie for a reason.
They will probably continue to promote, dilute and steal share holder money.
Oftentimes the market is the last to respond to success and projections. If you can read a chart, you will understand the .1395 recent high will be easily broken in the not-too-distant-future. The market will catch up. Now's the time to get in.
bottom line is we all want to see NTEK go up, but there are no SALES.
Boy are you misinformed. Not including any revenue from the last two acquisitions, last Q the company grossed $212,041 from gaming, $29,910 sales comms and finally $15,600 from sales media for total revenues of $257,551 for the Q. That includes nothing from all the irons in the fire they have alone with all the forecasted 4K revenue and don't forget the partnership revenues that HHSE will bring. This company will soon be grossing millions every Q.
The more you average down, the harder it will be to unload your shares.
In another post you said there was no toxic debt. That's wrong, someone posted on this board that the company had issued warrants and they were being converted to shares. That is toxic debt. Anytime shares or warrants are given for cash or debt, that is toxic debt. The holders short the stock driving the price down and covering those shorts with converted shares. As they short shares at say .004, they can cover those shares at a lower price. Also they want the share price lower so they can convert more shares. Do you understand all this?
In another post you talked about their orders and specifically one for 2 million. But, did you notice that there was no mention of who that order was from. Chances are it is bogus. I've been around these pinkies and have seen this film before. They can say almost anything they want and get away with it. Who is gonna spend the time and money to investigate? A legitimate PR of such nature would always state all parties involved.
One more thing, any pro trading the markets will always tell you that averaging down is the absolute best way to lose money in the markets. If the initial trade goes against you, sell and cut your losses before the trade damages your account balance and puts you out of the market for good. You're going about this thing all wrong.
Buy stocks going up, not stocks going down. Picking bottoms is a fools game. Buy all you want, you will probably end up selling much lower. Something smells here, the truth is being masked.
If it goes down, i will buy more.
Only a very few make money in the penny jungle.
Can you say MONDAY GAPPER!
Can you say, "I'll take that bet." This stock is being driven down by death spiral financing. Even the company admitted conversions were taking place. This stock will see trip 0's before too long.
OTC and Pinks do not trade after hours, except some times between M&M's to balance inventory. What you are talking about are form T trades that were somehow traded out of order during the day and posted after hours to correct total volume numbers. They don't count for anything.
According to IR it's not dilution. It's old debt holders selling converted shares.
When shares are converted and dumped, it adds to the total shares allocated or outstanding, so it is dilution.
VNDM is a known diluter.
Only one word for it, DILUTION!!
MARK IT! We will close up for sure.
Can't be right all the time. But, at least you had a 50% chance to guess right.
What a crap stock this turned out to be.
hear ya, my thoughts are to never buy a recent promo stock. Bag holders will be bailing for a long time. Company probably has more to dilute. Not a good situation here. If this was a good company, it wouldn't be sitting on the pinks with a yield sign to boot.