https://www.youtube.com/watch?v=xLpfbcXTeo8
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"..would it be adequate to provide the proper University in subsequent filings without acknowledging the prior misstatements?"
Adequate for WHAT?
As a defense against a shareholder suit claiming damages because of this misrepresentation? Good luck proving those.
Or did you have something else in mind?
SEC won't suspend or even pursue civil actions for that misleading backgrounder. Simply doesn't ride to the level of materiality in an average investor making an investment decision.
If the guy was claiming to be a Ph.D. Nuclear Physicist with postdocs at Argonne and Princeton and the company was based on his claim to have made a stunning cold fusion breakthrough, then yeah the educational misrepresentation could be deemed material and even criminally fraudulent.
But in this particular case, I don't see it leading to any serious problem.
Butt I have an open mind on it - just tell me "adequate" for WHAT specific requirement and what specific liability are you concerned about?
Which raises another point. Do ANY of NTGL's game devices have FCC certification?
UL certification?
Are their demos at the CONvention even LEGAL or do they violate FCC rules?
ALL electronic devices that use microprocessors or other high frequency circuitry MUST be licensed by the FCC after submission of third party testing results for radiated RF energy.
I think the FCC needs to be notified about the NTGL CONsoles at the CONvention.
Nice find!! Yup, the FCC dismissed the NP-1 (MOJO) application and specifically barred it from being sold in the USA.
That's what happens when you RIP OFF another manufacturer's product, slam it in a different enclosure, and try to pass it off as something NTEK designed.
The FCC clearly tells them it is against the law to make commercial sales of the NP-1 in the USA.
No wonder it never showed up in any bricks-and-mortar stores, no BBs, nott even online at Staples.
The FCC banned it!
David Foley - crook, multiple felon, convict, game counterfeiter, fraudulently trying to pass of the MadCatz MOJO as an NTEK product.
Oh well, that fake NP-1 prop sold a LOT of shares to non-cognoscenti investors like BIG Bennie Blankenship, "the corrupt stock promoter" as he is referred to in the FNRG FBI arrest affidavit.
All Foley needed it for was a prop. And it served that purpose, allowing him to dump several hundred million newly issued shares into the market on the phony NP-1 stories.
Help to understand the misleading daily short numbers posts:
rbtree Monday, 09/14/15 02:34:57 PM
Re: Neophius post# 35098
Post # of 35110
Nope. Those daily numbers are meaningless. Only the first leg of a trade is reported, and that figure represents the ones where a MM went short to handle the trade. In almost all cases, a long entry was made right away to close the trade.
Also, since MM's only match buy and sell orders on the greys, shorting is not possible. And yet those daily reports still show shorts. Further proof the reports are meaningless.
The bi-weekly report at OTC Market is the only accurate one...And it showed about 30,000 in short interest, and no fails to deliver.
Shorting of any kind is never a factor with any low priced stock.
So keep posting those meaningless numbers.
Another $2K paid promo pump for NTGL from another D-lister pump site:
"We have received two thousand dollars by a third party, Red Tie Fin., for a two-day marketing campaign of NTGL. We do not own any shares or hold any positions in NTGL. We have not been compensated for the mention of CALI in this profile. We do not own any shares or hold any positions in CAL_. All compensation is received via bank wire.
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EliteOTC pumper scumbag working the $2K paid promo for NTGL P&D and picking his feet
Those 52 movies are nott 4K. Fact.
They came from Paramount as HD and 2K masters only. There may be a few that are nott, butt I doubt even that.
Take for example, Chinatown. It's only a master digital file for a HD DVD burn. Nott 4K. Chinatown has never been scanned as a 4K digital file, and NTEK doesn't gett the film masters - they only gett digital files from Paramount - on a disc.
And nott 4K.
Sorry, that's the hard facts. UF can UPSCALE the HD files to 4K, butt that's nott 4K content - that's what any smart 4K TV will automatically do for an HD input - the sets can upscale.
So, no 4K certification logos for the Paramount flicks. They're nott 4K, except possibly a couple/few at most - if that. And those wouldn't fit on a disk - nott even just one movie per disc.
NTEK claims they gott 100 movies from Paramount on a single disk. That's impossible for 4K files. Just ridiculous.
Even Donkey W(r)ong admitted these are HD files.
"And the way Bob and Jean cement their relationship is to constantly swap inside information - feeding each other good deals, tips, setting up mutually beneficial transactions/acquisitions between the portfolio companies of Jean's and Bob's VC firms. One hand washes the other. And this is how Silicon Valley works and why it won't move. VC generally hate to travel for board meetings."
And this is also why it is soooo hard for new Silicon Valleys to sprout upp. There needs to be this network of trust between VC groups with deep pockets to form a critical mass of both financial capital and intellectual capital (experienced board members, management) in a local area. Until that infrastructure of VC with trusted ties to each other exist, it is very hard to find deep capital resources to take on high-risk, high-reward ventures.
I believe San Diego and to an extent Seattle has crossed that energy barrier threshold. So did Boston a couple of decades ago. New York is still questionable, IMO. The suburbs of Philly, northern NJ, and the Bethesda-Gaithersburg corridor of DC are also-rans that are marginal on the energy barrier threshold and have been for 20 years now.
There was a small area near Chicago - the I-88 corridor near Downers Grove and Naperville that had a spark thanks to ARCH Capital (the institutional VC arm of the Univ of Chicago), butt that area hasn't really caught fire yett.
Austin has a loong way to go - in fact Houston (The Woodlands) is ahead of Austin already, because at least while oil was over $100/bbl Houston had money to literally burn - and that funded a lott of very high risk start-ups - some of which made it. Austin has a long way to go though.
Denver is "working on it" butt has a long way to go. Salt Lake merits only a hat tip now.
Because it is always all about WHO DECIDES and thus there is a need for internecine trusted relationships among VC to allow for high risk investment that relies on personal reputations, connections, and leverage - until a sufficient infrastructure exists in a location that can support the capital needs (financial and intellectual), it is a chicken-and-egg problem. In fact many of the VC that started outside the West Coast have migrated at least branch offices if nott their entire operations to SiliValley - throwing in the towel on local ventures and start-ups as their bread-and-butter investments and looking for "ins" to gett into SV start-ups. Butt as outsiders, they are well ... nott in the trusted inner loops (yett). They are getting the shettier deals offered to them - like the Euros and Japanese - and less power and leverage in these companies.
I don't know much about Hollywood, butt I expect SV is a lott like Hollywood in getting projects funded, syndicated, distributed, etc. - despite a lott of places trying - Vancouver, Chicago, NYC, Miami, Toronto - no place dominates entertainment like Hollywood. It has a critical mass that just cannot be duplicated - or at least hasn't to date. It's another place that runs on relationships, trust, and ball-grabbing leverage - an infrastructure that is very, very hard to replicate ab initio.
Oliver Stone is a masterful yobb with Wall Street in describing the NYC financial equities market infrastructure in the '80s. I wonder if I could gett him interested in doing a Sand Hill Road as an encore.
Integral - can you gett me a meeting with Ollie? Will he take a lunch with me?
Sorry, butt those aren't 4K.
My Con Law I professor (and Con Law II also) told me a truism that I find bulletproof: It's always all about WHO DECIDES.
That sums up really everything in law and business - and I think in personal affairs also.
The only thing that ultimately matters is WHO DECIDES. Laws and rules are always ambiguous, open to interpretation, can be disregarded, subject to being overridden by exigent circumstances, etc.
So if you realize that it's all about WHO DECIDES, it becomes clear that you should only invest in enterprises run by people who you have faith and trust in - and that should be based on their track records and/or leverage you have over them.
One often sees in Silicon Valley that certain VCs will only go into deala with other VCs they've worked with in the past or better yet currently are in some deals with. Everybody needs to have a firm grip on the others' balls. If Bob and Jean are in another deal and both sit on the board of XYZ Tech, they are much more comfortable funding ZYX Corp. where they or their firms have board seats. Sometimes only one needs a board seat and Bob will rely on Jean's advice and board seat to represent him.
And the way Bob and Jean cement their relationship is to constantly swap inside information - feding each other good deals, tips, setting up mutually beneficial transactions/acquisitions between the portfolio companies of Jean's and Bob's VC firms. One hand washes the other.
And this is how Silicon Valley works and why it won't move. VC generally hate to travel for board meetings. They are often in board meetings (regular or impromptu) several times a week for their portfolio companies. They need to be local. There is often bicoastalism - between the Pacific coast and Boston, NYC, Research Triangle. Butt most of their life is local - within 40 minute drives of Sand Hill Road.
There is a mini-SV in north San Diego county and in Seattle. There is nott much interchange between those areas. Seattle relies mostly on Seattle area VC. Sandy Eggo relies mostly on local VC. The Bay Area has its own group. There is some bleed over between SV and SD, less so with Seattle. Few West Coast VC sit on boards of East Coast tech companies, butt a fair amount of East Coast VC do take board seats on SV companies. I suspect that it's better to fly from Boston to SiliValley in January than vice versa - a bit more attractive weather.
And, in my experiences, Japanese and European VC do get board seats, butt they rarely have power and are nott usually "in" with the US-based VC and they know it. Like non-VC institutional funds and retail investors, they are largely just along for the ride and know they are always going to be at an information and power disadvantage to the US VC. They will never be in the innermost insider circle. Sorry, that's the price for playing.
It's really fascinating stuff. Someday, I should write a book about it. It would have to be fictionalized furshirley.There are so many war stories to tell.
The board meetings where during the breaks the board members go outside to call their partners or others and spill the beans from the ongoing BOD meeting to others - disclosing highly sensitive and confidential information - and overheard by anyone who wanders outside and listens to them yak on their mobiles - or now texting to live-cover the board meeting for their chums. The politics whereby a CFO and a VP conspire to gett the board to overthrow the CEO, install the VP as the new CEO with the tacit promise between the VP and the CFO that once the VP becomes CEO he will push for the CFO to be named President, then once he's CEO he backstabs the CFO, goes to the board with a story blaming the CFO and getting him nott only NOT elevated to President, butt canned.
Seriously, there are like 100 good hour-long episodes that could be written. The tiers (or circles inside circles) of insiders. The way VC will burn one of their portfolio companies to make it up in spades elsewhere (many ways this is done) for themselves and their funds.
How VC running many funds with different end dates juggle their investments to benefit one fund over another - even though they have equal fiduciary duty to all the funds they are running - to score points within their VC firm because one fund has a powerful partner in it and thus benefiting that fund at the expense of another buys a favor from the powerful partner. Or to postpone taking losses by shoving a losing position in a non-public start-up into a longer maturity fund that won't realize the loss for years - so the VC can gett a bigger bonus this year (or keep their yobb). Or stealing money from a long-term fund for cash to invest in a losing company to keep it alive so the VC doesn't have to realize the loss now and can postpone the day of reckoning for them personally.
The treachery. The dealing. The wheedling. The information trading. The traps.
Honestly, way more interesting than the pennyscam world because these folks are all smart, ambitious, and sophisticated.
Little has changed since Machiavelli. It is ALWAYS ALL ABOUT WHO DECIDES.
That's hard to say, because the board meetings are nott usually followed by PRs unless there is a material event that came from the board meeting and needs to be disclosed.
Butt it gave the board members a head-zupp on material information that they knew would be disclosed later when it was fully ripe. And that seems to obviously leak from certain board members into certain third parties that trade on it promptly.
So say a major transaction is being presented to the board for board approval. The transaction is nott complete, so it's nott required to be disclosed publicly - hell, it's nott even approved by the board. Butt the board book will have a presentation of the proposed deal and transaction terms.
Once the board book is received by certain board members and they learn the terms of the transaction that they are being asked to approve, if it is a good deal for the company - that getts leaked and you can see the trading action. You might have a pretty dead stock jump to life and big, higher bids appear from an MM that gobbles whatever shares they can get - usually moving up the PPS eventually. Then often the volume dries up again ... eventually, the board approves the deal and it is made public - maybe weeks later - and the stock shoots up in volume and price.
The opposite with badd news - within hours of a board member receiving their board book that has badd news (e.g., a finding by an auditor of a material weakness in financial controls, bad R&D data, a planned departure of an officer, etc.) you can see a relatively thinly traded stock show selling in volume - again, sometimes it will persist over a few days ... and the news may nott come out for weeks - maybe with a Q or an 8-K when the officer or director formally tenders their resignation.
So since there is often a time lag between when the board meetings are held and when the good or badd news starts to leak (as it frequently does) or a PR or SEC filing, it's hard to say whether the insider info always made them munny or nott, because it's nott known when they sell or what thair original acquisition cost was (in the case of badd news). Butt it shirley lets them hedge their risk against future market reaction when the noos getts ~OUTT.
Do you know what is the most ridiculous thing in Silicon Valley? Having a VC sign an NDA. They talk and gossip more than the Hollywood poseur crowd or the New Rochelle Ladies Bridge Club. Anything you tell a VC you are immediately telling virtually all VC and i-bankers. NDAs mean nothing at all to them. No company they invest in (and typically have a board seat on) will enforce an NDA against them - and they know it. They simply don't care. Information is their currency. Telling a VC information is essentially issuing a PR just to the VC and i-banker crowd - and all the competitor companies too - as it leaks to them as well once it enters the VC/i-banker gossip domain.
This is a hard thing about the board/management dynamic. Management has a duty to all shareholders individually, and also to the board as the elected representatives of the shareholders. However, in reality there is a tension between the interests of individual shareholders and the interests of the board. In some cases, management is conflicted - disclosure to the board of directors may be adverse to the company (e.g., the information may gett passed to a competitor company or a company in negotiations for a transaction) and/or to individual shareholders (e.g., facilitating insider trading - allowing certain shareholders to unload on badd news before the general investor public getts notice).
Sometimes, management must withhold information from the board - butt must be able to justify that action. And even if they do the "right thing" by withholding it, the board may fire management for doing their yobb and protecting the company and individual shareholders. Because many on the board WANT that early information - it's their currency! They trade inside info for other inside info - it's the VC and i-banker information swapping rendezvous - held daily. A VC's or i-banker's value is based on how much TOTAL inside information they possess. That's the "money" they seek. Information.
Of course management is nott immune to these same issues - self-dealing, insider tipping, balancing fiduciary duty to shareholders who have different interests.
For example, suppose a corporate action will benefit shareholders in the long term butt will crater the share price in the short term. Some shareholders have a short term objective and others have a long term objective. Which shareholders should management and the board weight more? Is it better to accept a deal with huge front-end payments at the expense of long-term payments that will net more munny? Is a short term pop worth hetting less total money in the latter stages of a transaction?
It's a political mess. Seriously as ethically problematic as Chicago or Washington politics. Or Mexican politics.
It's all a grey area and that is why abuses are rife. Without bright line rules, self-interest drives people to shades of grey that benefit them. And NOBODY can define bright line rules - which is why it is best (and always is the fact) that the only protection one has is caveat emptor. Laws can't do it. Know the management and board and their long-term reputations and short-term trends. Don't buy technology, buy management. Always. because it is ultimately all built on trust.
And assume management and the board skim off the top. They do. That's the price an investor who doesn't own a board seat pays. Sorry, that's the price of playing.
Some are less interested in the NTGL silly games as being of any use at all in adult casino gambling, butt are interested in NTGL because the NTGL silly games are attractive to kiddies.
The NTGL silly games are nuisances to casinos. No casino manager wants to have casino personnel spending time policing the areas where the games would be - chasing away underage kids from loitering in the area. Underage kids can only transit a casino floor, they cannot linger to watch or play the games.
The last thing a hotel-casino wants to do is to tell parents to gett their kids to move along. It is inhospitable behaviour and the opposite of how casino-hotels want to be perceived by guests.
Butt some prolly find the fact that NTGL silly games would be attractive to kids as a positive feature.
In fact, there would probably be a consumer demand for home units of the silly games in among some some strange market sector.
I wonder if the machines would have to be registered for that strange market segment, as they are gambling devices too.
Butt being registered with the state is no big deal, right?
A few war stories about insider trading may be in order.
In a number of Silicon Valley tech companies, I have seen a remarkable pattern. The board books are sent ~OUTT via FedEx (I always STRONGLY advise against emailing board books or draft presentations that execs want to solicit prior comments on before the final board book - for obvious security reasons) several days before the board meetings.
In almost every case where the board book contains some significant positive or negative development, the volume and PPS begin to move the day the board books are received. In a few cases, I've compared the delivery times on the tracking information on each shipment and can match the time of receipt by a specific board member to trading activity that takes place within an hour later by "other" entities. As a trial, I've had CEO's exec assistants vary the date of shipment to certain board members - and sure enough, the trading action can be tied to the receipt times of certain board members.
So, without naming names, there are many board members of great reputation and renown in tech who APPEAR to be leaking information from the board books to one or more third parties who then trade on that information within an hour (or hours) of the time those particular board members receive the board book.
This is nott an isolated incident, I've tested this as a scientific experiment and, while I do nott have absolute proof in the form of emails or other communications from the board members and the various third parties that APPARENTLY receive it and trade on it promptly, I am very confident that these board members are tipping third parties.
This appears to be a fairly pervasive thing in Silicon Valley small/medium tech companies. Many of the board members who seem to be involved in this are VCs and other tech company execs (who also sit on many boards).
There is also a tremendous amount of self-dealing that goes on - a board member inducing a company to acquire one of their portfolio companies that are struggling, a board member politically twisting the CEO and CFO to take some really bad financing that is unneeded from one of his pals, and pervasive leaking of one company's confidential information to a competitor company by a board member who has links to both companies.
It's a dirty, filthy, corrupt world. Even among - especially among - the "name" tech companies that most people would recognize.
"On the morning of August 22, UltraFlix had 144,949 validated users ..."
And yet UF only gott 165 rentals of Interstellar during its entire run - at a lease cost of $700,000.
Pretty funny. And 25 of the 165 were from the SAME IP ADDRESS!!!
Claims of 144,949 validated users and yett only 165 rentals of its top blockbuster title Interstellar which is now GONE, BABY, G-O-N-E to Epix where it can be seen for FREE (as I watched it for FREE on Epix two weekends ago!)
Evidently the "validated users" didn't bother renting any of UF's crapola content.
LOL!!! Those "validated users" are about as real as the number of followers of BIG Bennie Blankenship's now-defunct FB page touting NTEK. 99 percent of those likes and followers were bought from Thailand.
Prolly 144,000 of the UF "validated users" are fake accounts in Thailand.
Another WireTransferism.
"hal8445 Member Level Sunday, 09/20/15 03:03:59 PM
Re: None
Post # of 32425
NTGL promotion starting today.
Float: 26,538,440 (a/o April 23, 2015)
O/S: 181,547,800 (a/o April 23, 2015)
A/S: 450,000,000 (a/o April 23, 2015)
http://www.otcdynamics.com/$ntgl-nanotech-gaming-inc-promotional-campaign-starting-sep-20-2015-200-pm-cst/
Good luck
....
ChitownMike Sunday, 09/20/15 03:17:00 PM
Re: hal8445 post# 32399
Post # of 32426
Lolololololol
"MJ Capitals business model is to receive financial compensation to promote public companies. We have been compensated nine thousand and five hundred dollars cash via bank wire by a third party Red Tie Financial LLC"
Another failed D-lister paid promo bombs - just like the eight NTEK failed paid promos since Spring 2014. Every one a bust.
NTGL is a scam set up by David Foley who rots in Federal prison right now for multiple fraud convictions. NTGL is "run" (to the extent that even applies) by a bunch of foolish 40+ year-ol kiddies who literally have zero idea about what they are doing, how casinos run, and how games and machines get sold (or leased) to casinos.
The fair value of NTGL based on enterprise value and assets = ZERO.
Dead zero.
The $642 in cash assets as of June 30th is long gone for video game tokens at local arcades.
Yett another CONvention where they will come away with words and nothing else - no deals - no investor interest - just another failed game concept that is simply ridiculous to those who have 40+ years experience as casino managers for the MGM corporation and laff at NTGL's stoopid video game ideas (pinball, Pacman) and crazy consoles that no casino will allow for a variety of reasons - health and safety risk from fuzzy shag carpeting on the machines - impossible to maintain - an attractive nuisance for underage kids to gamble in the casino requiring greater casino staff monitoring and bad blood when they have to kick the kiddies out - unintelligible and complex rules that even the Nevada Gaming Commission can't understand - low betting velocity - and that's just the beginning of these chuckleheads' failures.
The NTGL 'team' hard at work
UF still not on Sony ... or 2015 Samsung ... or 90 percent of current 4K TVs for sale.
Interstellar cost NTEK $700,000 to lease - it made only $1,648.35 in total rental income.
And now it's GONE, BABY, G-O-N-E!
Now UF has "a disc with 100 movies on it" - from Paramount - compressed .mp4 HD digital files. 100 on a disk!!
LOL!
And DaDaveyFelon™ is still working on the "10-K-like" advertisement annual fraud report. While in prison. Against the rules.
No halfway house time for DaFelonDavey™ - in fact he may be transferred to another BOP facility that can more closely monitor his in-person visits as well as all his mail and email and phone calls.
Duluth would be perfect this time of year. The sound of the loons, the ice, the snow, the cold, bitter winds off Lake Superior. Perfect place to keep a sharp eye on DaDaveyFelon™ during his (soon to be rare) in-person visits to pass notes).
And the pain of having to watch Viking games every weekend!!! Now that's punishment!!
Tuesdays are Ziti Night at FCI-Duluth - pasta will pack on the pounds for DaFoley™ - 32 lbs gained in 55 days!
100 percent SELLS today at the bid, ZERO BUYS at the ask.
It is Co-Robber-ated.
As in "DeKett and Daddona co-robber-ated with David Foley in defrauding people and companies."
Speaking of which, note that DaDavey had DeKett act as a stooge for the stolen MOJO used to pass off as "NTEK's NP-1".
Czech with TA on Wed or Thurs - those seems to be the days of the week when NTEK issues shares and it shows up on TA report.
LOL. Really?
SELL volume at the BID is 90+ percent of today's volume. PPS is at bid - 0.002
All that really matters is the VWAP and the SELL/BUY ratio, which has (as usual every day) SELLS crushing BUYS. the A/D line on this dilution pig since December is about as bad as one can find in the pennies. Greater than 95 percent of days since December the SELLS crushed the BUYS. A/D line sucks bad.
And the VWAP under $0.0085 for the day so far. Looks to be about $0.0081.
Paint ups are just noise for rookies.
Dumpfest abounds here.
Interstellar is GONE, BABY, G-O-N-E!!!
And it ain't coming back to UF for another 165 rentals grossing $1648.35 in rental income for a lease price of $700,000.
Sunk cost.
Munny lost.
Munny G-O-N-E and it ain't comin' back.
Good thing I have Dish and can watch it FREE on Epix (as I did).
Now UF has "100 movies on a disc" - in compressed files from 1080 and 720 resolution, which at BEST they will UPSCALE just exactly like any smart 4K TV automatically will do.
Will 165 people pay to see 40 year-old Chinatown in stunning compressed 1080 then upscaled in software and recompressed to garbage-quality by UF?
165 rentals - total - for UF's run of Interstellar.
LOL!!!
"However take it to the bank another A/S raise is not in the cards this yea and this is straight from the lips of NTEK mgt at the SH meeting."
LOL!!!
Just LOL!!!
Just wait a week or at most 2.
LOL!!! What a failed, loser paid promo group!
Last 4 Stock Promotions By "Reasearch OTC"
Symbol Company Start Date Trades Money Flow Open Close Change
FONU FONU2 Inc. September 8, 2015 179 ($21,925) 0.0038 0.0028 7%
TSTS That Marketing Solution, Inc. September 3, 2015 391 $26,072 0.153 0.162 15%
MXMG Maxima Group, Inc. August 27, 2015 94 $19,178 0.450 0.400 -9%
GAHC Global Arena Holding, Inc. August 24, 2015 106 ($7,056) 0.074 0.076 4%
Of course the purpose of a paid promo is to gin up new suckers to buy the scam stock held by the partie(s) paying for the promo - the PPS is usually flat to down. The goal is to generate VOLUME for the partie(s) paying for the promo to DUMP their share holdings into.
And the failed, loser NTGL'team' hard(ly) at work.
"You misunderstood, I meant it looked bad that all the posters left the IHub. Where did they go?"
The Pit of Deep Debt.
The House of Loss.
The poorhouse.
Bankruptcy court.
Divorce court.
DaNile.
A mass pity party.
A mass hallucinatory delusion.
The credited response is: ALL OF THE ABOVE.
What "Literature on any IPO company" are you referring to specifically?
Do you realize that both NTEK and NTGL cannot by definition "IPO"?
Both are already publicly traded.
"So I think at least some of those "aged debts" must be backdated payments to themselves. Think "deferred salary," that sort of thing."
Yes. Indeed so.
"Why would Riordan be doing it? He's a crook, sure, but he doesn't seem to have the same natural comfort with larceny that these other folks have. Somehow, he's got to come away from this with a million or two, right?"
See above. Petey has few better options than to keep sucking on the salary tailpipe.
Look to the "Release letter" for all that info. LOL!!!!
Obviously, there is a severe deficit of knowledge about what an IPO is and how it is done.
Some on the outerwebs are still awaiting the spinoff of NTGL. How sad nott to know that NTGL was spun off more than 9 months ago! NTGL is no longer a part of NTEK and hasn't been for almost a year.
NTGL and NTEK CANNOT IPO. Just like Madonna cannot be a virgin.
Obviously, people DON'T know that they own (and in the case of NTEK, DON'T OWN).
"Release letter" - LMAO!!! Maybe that will explain it all, huh?
Mike, those issuances are for past floorless debt notes - the prices of the issuances are determined by the market prices at time of conversion. They can't "issue 150M shares to a toxic financier". At this point, no toxic financier would take 150M shares even at a 75 percent discount to market because (1)they can't dump those 150M shares without crushing the PPS to below 25 percent, and (2) unless issued for old debt over 12 months old, they can't sell it for a YEAR and nobody is going to hold shares for a year.
The fact that the float increased with the OS since December is proof that the issuances are for OLD DEBT 12 months or more old.
They can sell new floorless convertibles, butt those shares will be an indeterminate number to be determined upon conversion in 12+ months from now - nott a fixed number of shares.
"If all the moneys coming in from the scam are going to pay off old debts, why do it at all?"
Because they are legally obligated to do so. The floorless convertible notes require the company to either RS or raise AS as needed to accommodate the issuances of shares per the floorless notes.
Virtually every floorless convertible debenture nore contains this provision, and it's legally enforceable in the courts - and is is fact threatened or litigated often. Every time that I know of, the courts nott only force the company to raise the AS (or do an RS) AND also award the plaintiff CD holder money damages.
Nah, they're gonna claim they needed to raise the AS for a third time in 9 months because they need money to launch a major marketing campaign that will be a trivial non-event.
They already teed this up as their alleged "October launch".
Just like Superbowl Sundae.
A fugazi used to befuddle the easily serially befuddled.
The game plann is all spelt ~OUTT/spilt ~OUTT in the emails.
Only NONE of the new shares go for new money or services - they go to pay for convertible debt and other liabilities and obligations that are 12 months OLD as aged debt.
It's all a total scam story.
Maybe Little Richard can give a demo of how to chip paint off a rusting 40 year old Navy oiler.
The Court would be amused.
He will need a booster seat though.
Will his part-time solo even show up? If so, will he sleep through the hearing until the back of the judge's hand slaps him down. His health is so fragile he must sleep a lot. Medication and all - maybe that's the excuse for missing deadlines, screwing up which case he's filing a response for, and being confused whether he's been retained or nott.
At least we'll always have Paris ... errr ... Interstellar.
Ooops-whoops.
Like everything else - it's "coming soon" in the "next week" and "within 15-30 days".
Remember the summary of the SHNM that was going to come from the company in a week after the SHMN on August 22nd?
Or the "UF on Sony" in the update next week as of August 22nd?
The only thing that actually happens are the AS raises that the company has no plans to do a few weeks before they do them.
H.J. Meyers with Patrick Grady as the lead "infestment barker". That would be perfect for NTGL's "IPO".
He'd be great on the roadshow with DaDavey™.
I can't wait for the stretch limo to show upp at Taft telling the guards that DaDavey™ needs to leave for a two week roadshow including European stops.
The subscription book (indications of interest) will be populated solely by those on the outer webs, buying back their own fractional ownership by buying the "IPO" shares.
Used to be called a "rights offering" and is a great way to soak those you've already soaked to buy dilution shares that don't increase their fractional ownership a whit butt soak them for more munny. Rights offerings were a hoot. Don't see them much in pennyland as before. Everything goes in fads and trends.
I can't wait for someone to explain the NTGL IPO process. It'll be a hoot furshirley. The "Release letter" will be epic!
http://articles.latimes.com/1996-07-26/business/fi-28122_1_h-j-meyers
http://www.wsj.com/articles/SB906083933667289500
https://www.finra.org/newsroom/1996/nasd-regulation-obtains-1-million-plus-restitution-investors-hj-meyers-fines-nearly
Real Life Boiler Room
http://articles.latimes.com/1998/sep/18/business/fi-23884