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Just in, NTEK beats APPLE in market value!
Netflix reportedly to spend $12-13 billion this year on content. This scam has been promising a $21 million infusion for well over a year that has never come to fruition. Now stuckholders waiting with baited breath for the next round of lies from the principle. Sad how people are so blind to the obvious red flags in the pennyworld of scam stocks.
Will get much lower than that. The sheep bought the next round of lies just like they rejoiced after the last SHL only to have none of the promises come to fruition. So many times shareholders got angry and were appeased with new promises that never happen but since it always works with them why not keep it up.
Notice no one signed the bottom. What real company does that? Secondly I call BS right from the start where it states adding hundreds of new users every day. How is that possible when there is no app available to download on IOS or Android?
Notice large sells then very small $10 buys at way higher price just to falsely increase the PPS. Won't last, this scam is nearing it's end. Everything we said here was true. It was denied on the outerweb and we were called shorts by the true manipulators but now they admit that Royal Capital was Foley's shell. Lies for years from NTEK coming to a head.
Seems to be merging with the toilet. BAM! FACT!
Better then to wait for it to hit 0.0001 and a great buying opportunity!
Just got the spam email in by junk box. Any time anyone gets "great advice/news" emails out of the blue its time to run in the opposite direction. Penny land is full of scams so any red flags should be taken seriously as an indicator of a pump/dump.
Smart investors don't waste time with low volume Penny scams like NTEK for even if they made money, after fees they could barely buy a cup of coffee.
So let's be clear about this absurdity. Someone decided to margin over $2800 so they could short around $10 worth of this scam not to forget the actual broker fees involved. Does any reasonable person believe this?
Three minutes before the close a $10 paint to not leave the weekend looking too painful for longs holding the bag in this scam.
Fee-fi-fo-fum, I smell another pump and dump penny scam.
That said, there was a penny stock (SPNG) that actually had a product in Walmart and would advertise at major sports events etc., that was a scam and was shut down by the SEC for just being a pump and dump. Caution is always advisable in pennyland.
In the penny scam world don't believe financials unless they are audited. So many financials are just nonsense to fool naive investors. A huge red flag is when a company promises audited financials but never deliver year after year.
Mostly selling by far today. Of course we have the $11 end of the day last minute purchase to paint the closing number. Does anyone have a working telephone number or real address for NTEK?
A bit? Maybe a very small smidgen of news about content a very few have heard about nor will see. Can't even download UF on Apple or Google. You would think that would be a priority along with getting the crossbones warning removed.
I remember when I first started writing about this scam many years ago I noticed in the financials that were done by David Foley back then I believe, that they were paying his brother 5 figures a month to lease the building for NTEK. I mentioned on this board I thought that was a huge red flag among many and not long afterwards NTEK bought it. They never mentioned for how much nor when they gave it back to Jeff what was his payment.
Since we know that Royal Capital was in fact a Foley enterprise and they gave themselves over a billion shares not to forget the additional 30 million Lisa Foley got while her husband was in prison and she doesn't even work for NTEK we're talking about $20 million dollars from selling free shares. Certainly that didn't go into NTEK as we know they never paid their bills hence all the lawsuits, so the majority of it is hidden somewhere. I seem to recall Phil Foley getting 25 million shares while he was still working for an electric company. This whole stock has been a Foley enrichment vehicle.
The same way people are making money and buybacks on big brother NTEK.
I forgot about that been so long. Couldn't sell it on the Pawn Stars show because they were worthless but NTEK grabbed and hyped about them. Of course even these worthless tapes never showed on UF. It was all for the hype to sell this stock.
Hmmm, appears to be yet another penny stock scam with broken promises after broken promises. But like all the inevitably proven scams it will be interesting to read the justifications and rationale behind events not occurring and great things ahead that never transpire after the fact. Easier to fool someone than to convince them that they've been fooled.
Realize that the fan-site will probably not mention or post said info. since some moderators there are insiders. That said, if longs there read it here and somehow get a post through it will be quickly denounced as fake news and altered documents and the poster labeled a basher. When NTEK is ultimately halted they'll still be blaming shorts and MM even though there is very very little shorting done and they'll refuse to believe the obvious fact that they've been scammed.
The OTCShortreport is the short volume not the short interest.
The OTCShortreport uses the FINRA Daily Reg SHO data, it is meaningless on it's own. The Trade cycle is Trade Date plus 3 days for settlement, Daily Reg SHO only shows the Initial leg of each transaction and doesn't reconcile based upon settlements made seconds later as the trade has yet another 3 days to settle.
MMs do not "short" penny stocks. As part of making a market, they may have periodic short positions throughout a trading day if they fill buy orders for more shares than they have in inventory, but they also often have inventory when they fill sell orders. Having an inventory does not mean that they are going "long" any more than having a temporary net short position is "shorting." This kind of temporary short position is legal and necessary for efficient trading.
The FINRA daily short data does not show true short positions and that the Bi-Weekly report is the only reliable one. It also explains that when new shares are entering the market, they are reported as short until the stock is delivered.
The short data for all OTC stocks including those quoted on OTC Markets (fka Pink Sheets) is sent to FINRA twice a month by broker/dealers. FINRA compiles it and publishes a semi monthly report. These bi-weekly reports show the aggregate short position by all market makers as of that settlement date.
Here is a example of just the OTCShortreport provides worthless information. Let's look at AEGY - suspended by the SEC and on the Greys - therefore it isn't being quoted - so it is impossible to short.
But accordding to the OTCShortreport we have the following:
Date Close High Low Volume Short Volume % of Vol Shorted
Jan 31 NA NA NA 6,958,513 2,900,000 41.68%
Jan 30 NA NA NA 1,997,650 1,200,000 60.07%
Found this explanation which destroys the daily report that is posted here and on the outerweb to fool naive investors into blaming a declining PPS for shorts when they have nothing to do with it in pennyland.
The OTCShortreport is the short volume not the short interest.
The OTCShortreport uses the FINRA Daily Reg SHO data, it is meaningless on it's own. The Trade cycle is Trade Date plus 3 days for settlement, Daily Reg SHO only shows the Initial leg of each transaction and doesn't reconcile based upon settlements made seconds later as the trade has yet another 3 days to settle.
MMs do not "short" penny stocks. As part of making a market, they may have periodic short positions throughout a trading day if they fill buy orders for more shares than they have in inventory, but they also often have inventory when they fill sell orders. Having an inventory does not mean that they are going "long" any more than having a temporary net short position is "shorting." This kind of temporary short position is legal and necessary for efficient trading.
The FINRA daily short data does not show true short positions and that the Bi-Weekly report is the only reliable one. It also explains that when new shares are entering the market, they are reported as short until the stock is delivered.
The short data for all OTC stocks including those quoted on OTC Markets (fka Pink Sheets) is sent to FINRA twice a month by broker/dealers. FINRA compiles it and publishes a semi monthly report. These bi-weekly reports show the aggregate short position by all market makers as of that settlement date.
Here is a example of just the OTCShortreport provides worthless information. Let's look at AEGY - suspended by the SEC and on the Greys - therefore it isn't being quoted - so it is impossible to short.
But accordding to the OTCShortreport we have the following:
Date Close High Low Volume Short Volume % of Vol Shorted
Jan 31 NA NA NA 6,958,513 2,900,000 41.68%
Jan 30 NA NA NA 1,997,650 1,200,000 60.07%
Not the sharpest tool in the shed is he. We all knew here that the funding was BS. I wrote last month that nothing would happen by the deadline and they would move the bar to Sept. then Dec. then 2019. What I find hysterical is that DF blames the actual shareholders for the delay and sadly many are spinning it as if true on the fan site. What more, the funding was actually supposed to be done a year ago and NTEK was waiting for the release of it. Who believes this BS? If people would just take an objective look as the 'reasonable man' it is obvious there was never any funding. First of all as shown on this site Bridgeport doesn't even exist and even if it did who would give a convicted felon who allegedly has 11 lawsuits against his company for non-payment $21 million? How absolutely absurd this funding promise is but then again this is common in penny land where there's never a shortage of naive investors.
I agree longs realize they have little downsize risk. That's because their investment is so far down now, well over 96% that at this point they're stuck and have literally very little to lose. That said, the $21 million that was supposed to be in NTEK's hands in 45 days at the latest timeline has past and nothing but further vagueness from the convicted felon principal as proof of yet another lie of numerous ones by NTEK. Meanwhile, he has made millions of dollars with his shell company Royal Capital that he owned and gave over a billion shares to. Not to forget of course the over 30 million shares of NTEK he gave his wife while he sat in prison and she doesn't even work. There is no $21 million and no other interested parties. They currently have around 11 lawsuits for failure to pay their creditors; who in their right mind would give them $100,000 no less millions. The absurdity of it all is so laughable and sad at the same time to think how naive some people are.
Already the new spins why no news because DF is too busy to answer to shareholders. Like that would really be acceptable in the real world. He's too busy working on content. What a laugh but not unexpected like I wrote a month ago would happen. Again I quote Mark Twain, "It is easier to fool someone than to convince them that they have been fooled."
No word, but he knows as the past is an indication of present sentiment it will all boil over and the longs will latch onto the next made-up fantasy as great things coming soon. Just like they were upset about the increase in A/S and then the R/S both promised wasn't needed then shortly afterwards happened and then the NTGL shares that never were delivered. All is forgiven and forgotten in pennyworld. Especially since all the long's investment is essentially in the toilet there is nothing left but to dream of an impossible event happening.
That was from a SHL in February among other things that as usual hasn't come to fruition. Here's the letter/lies. Is that address even valid anymore? This stock is such a scam/joke.
February 15, 2018
Dear Shareholders,
The past week has seen a lot of progress in closing the funding agreements that the company had previously entered into. Our funding partners have indicated that we should complete our transactions before the end of the month. This will not only allow us to move forward with the completion of all outstanding settlement agreements but provide the resources necessary to complete our 2018 plans for growth and expansion. The top priority of management upon closing of funding is to quickly complete the outstanding issues with Longside, K2, and 3DCH. Once these past issues have been cleaned up, the next priority will be the expansion of the UltraFlix library and expansion of the 4K Studios facilities.
The Ultra Media Group division has had success with the licensing of original content that will soon appear on new linear TV channels. This is the first in several distribution deals that will allow the leverage of original content expanding distribution and exposure in the broadcast market. The UMG team is also working on developing new 4K Studios / UltraFlix branded channels to appear on Satellite and Cable networks.
We look forward to your continued feedback and welcome any questions or comments.
2450 Kruse Drive, San Jose, CA 95131 1.408.414.7355 www.ntek.com
They'll probably do what they did with NTGL. Promise shareholders a share of the new UF equity per so many NTEK shares they're currently holding. If course just like NTGL they'll never live up to their promise. Meanwhile print millions of shares of the new entity and hype big things which too will never happen. Maybe the principle will start another shell corp. and give himself a billion plus shares and in the financials report it as an unrelated/unaffiliated investor like he did with NTEK. How big did the red flags have to be for the longs to see and still they were in denial.
Hmmmm, I've been reading that for years here yet never happened, never will. Cross Bones, no corporate office, no working phone number, financials way behind, no promised audits, founder a convicted felon, complete silence for months. Only squeeze are the longs pulling their hairs out for not heeding the warnings that this was/is a scam.
I remember reading it was an excellent buying opportunity when it was 0.05 pre R/S. What a joke! The supposed shorts have been worried for years yet if at any point if there were shorts they would have done quite well. But we all know there's very very little shorting done as proven by FINRA's accurate biweekly report NOT the daily report which they themselves state is not accurate and artifactual.
They can vet by calling or going to corporate HQ; oh sorry, no listing of address nor working phone number.
Nobody said it was difficult to short a penny stock. What was stated and factually so was that most brokerage firms require a margin of $2.50 a share when shorting pennies. That said, to buy $1000 of NTEK now would require a margin of over $200,000. What idiot would do that? The little gains would be eaten up in fees. Can make much more playing in safer waters.
When this is all over I hope the longs that lost their shirt realize that those talking daily shorts were really in on the scam. Even FINRA the actual body releasing the daily report states that its not a true representation of shorting because full of artifacts and incomplete trades but the biweekly is the accurate representation. Looking at the biweekly for NTEK from FINRA shows how very very little shorting has been done on this stock.
Can I put my order in for a hundred billion shares now?
Hehehe, I didn't see it at first but if you scroll down to the bottom of the article you see the author saying that NTEK will sell you an NP-1 to watch UF on for $299. Did the ship finally come in from China after four years? I thought they stopped the hype after the founder wrote if I recall correctly that 15,000 were already shipped to retail but then it never showed up anywhere.
The promise that never materializes because the founder is an admitted felon and the company is an unaudited penny stock scam. According to the article, "At the time of writing, UltraFlix claims to have the world’s largest library of 4K content - more than 600 hours of it in total." The world's largest content?! Hmmmm. A fool and his money is soon parted.
I think they're still training the sales staff.
As Mark Twain said,"It's easier to fool people than to convince them that they have been fooled."