https://www.youtube.com/watch?v=xLpfbcXTeo8
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(1) Jeff Foley is NOT required to report transactions to the SEC and has not done so. NTEK posted a "Form 4" on the paid website OTCmarkets.com for Jeff Foley for acquistions - which according to the code (P) can be either (a) from open market, or (b) from PRIVATE PARTY transactions such as from DAVID RUSSELL FOLEY's share pile.
(2) Since NTEK filed a fatal Form 15 in 2012 and is no longer a reporting company, Jeff Foley similarly has no obligation to report his SALES - including sales of those shares he acquired that he chose to report on the OTCmarkets.com website!
So you have no idea what the NET trades of Jeff Foley are, or if DAVID RUSSELL FOLEY has been transferring some of his shares to his ice sculptor brother, CEO Jeff Foley, who also may be selling them into the market from his account - since he doesn't need to report SALES!!!
Pre-sentencing investigation reports are sealed and confidential. It will NOT be available on PACER nor to the public in any format.
The sentence itself and any prior or post motions relating to the calculation of the sentencing guidelines points and level will be on PACER though.
If they stick with a $52 million loss, Moskowitz will be in triple-digit months for his sentence - even with a 2 point reduction for his plea and cooperation AND a downward departure. Otherwise, he might be looking at close to 20.
Wrong - READ the 14 February 2014 NTEK disclosure!
It lists which shares were retired! The David Foley shares were NOT retired!!
"144,982,250 shares returned to treasury.
On April 15, 2013 the Company entered into a agreement, reducing the overall outstanding shares by 10,000,000 cancelling shares previously issued to NanoTech Communications Corporation.
On May 2, 2013 the Company returned to treasury 42,796,086 shares previously issued to Galaxy Worldwide Corporation
as terms of the previous engagement could not be completed by Galaxy.
On August 2, 2013 the Company returned to treasury 68,271,577 shares previously issued to Long Side Ventures, LLC and R&T Sports Marketing.
READ the NTEK disclosure and you will see that the restricted shares issued to DAVID RUSSELL FOLEY in 2013, all 45,000,000 of them, 25,000,000 on 20 February 2013 and another 20,000,000 on 12 April 2013 - and now at the one-year anniversary where they can be delegended and DUMPED INTO THE MARKET, were NOT cancelled or returned to treasury!.
That's a fact from NTEK's own disclosure of 14 February 2014.
The share issuance numbers are in the NTEK disclosure of 14 February 2014.
So any 2013 share retirements are already included - and they don't show any retirement of DAVID RUSSELL FOLEY's restricted share issuances of 20 February 2013 and 12 April 2013 - totalling 45,000,000 shares now at their one-year anniversary where they can be delegended and traded!
http://www.otcmarkets.com/financialReportViewer?symbol=NTEK&id=116295
THAT IS FACT! Unless you are disputing the CALENDAR! Or calling NTEK a liar for their own disclosure of 14 February 2014!
Don't blame me - these are the numbers reported in NTEK's own filing!!!
Lots of shares issued and coming off restriction after the one-year period ...
From the December 2013 disclosure (most recent one):
4) Issuance History
List of securities offerings and shares issued for services in the past two years.
Securities Offerings in the past two fiscal years:
On June 19, 2012, the Company issued Bruce Schoengood, unrelated and non-affiliated investor, 29,547,945 shares of restricted common stock containing the restrictive legend, at $.001 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $29,547.95.
On July 9, 2012, the Company issued Randel Reiss, unrelated and non-affiliated investor, 3,589,808 shares of restricted
common stock containing the restrictive legend, at $.001 per share, as part of a conversion of a convertible debenture,
reducing the company’s debt by $3,589.81.
On July 26, 2012, the Company issued Long Side Venture, unrelated and non-affiliated investor, 320,000 shares of restricted common stock containing the restrictive legend, at $.001 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $2,880.00.
On August 15, 2012 the Company issued Titan Edwards, independent contractor 125,000 shares of restricted common stock containing the restrictive legend, as part of a completed services agreement from 2009.
On January 2, 2013 the Company issued Samuel Shepherd, unrelated and non-affiliated investor, 5,537,430 shares of common stock containing the restrictive legend, at $0.04 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $5,537.43
On January 14, 2013 the Company entered into a buyback agreement, reducing the overall outstanding shares by 75,810,552, cancelling shares previously issued to Global Media Enterprises, in exchange for an ongoing royalty respective to certain media properties provided by Global Media to NanoTech and redistributing them as follows:
issued Worldwide Cargo, independent service provider 1,224,490 shares of restricted common stock containing the restrictive legend, at $0.0024 per share, reducing the company’s debt by $3,000.00.
issued Long Side Venture, unrelated and non-affiliated investor, 26,030,874 shares of restricted common stock containing the restrictive legend, at $.001 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $154,102.79.
issued R&T Sports Marketing, unrelated and non-affiliated investor, 42,210,703 shares of restricted common stock containing the restrictive legend, at $.001 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $55,004.32.
issued Galaxy Worldwide, unrelated and non-affiliated investor, 42,796,086 shares of restricted common stock containing the restrictive legend, at $.0004 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $14,978.63.
issued M Stephen Roberts, independent service provider 780,000 shares of restricted common stock containing the restrictive legend, at $0.001 per share, reducing the company’s debt by $780.00.
issued David Foley, employee, 6,192,637 shares of restricted common stock containing the restrictive legend, as part of his employment agreement issued Vince Cerisano, unrelated and non-affiliated investor, 17,424,658 shares of restricted common stock containing the restrictive legend, at $0.001 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $17,424.66.
Philip Foley, unrelated and non-affiliated independent contractor, 25,500,000 shares of restricted common stock containing the restrictive legend, at $0.006 per share, to eliminate $153,000 of compensation due under the terms of a services agreement, and reducing the company’s debt by the same amount, and acquiring license rights to proprietary technology and assets.
issued Carl Bellitti, unrelated and non-affiliated independent contractor, 25,000,000 shares of restricted common stock containing the restrictive legend, at $0.006 per share, to eliminate $150,000 of compensation due under the terms of a services agreement, and reducing the company’s debt by the same amount, and acquiring license rights to proprietary technology and assets.
Issued Alan D. Stone, affiliated board member, 3,100,000 shares of restricted common stock containing the restrictive legend, as part of a compensation agreement.
issued David Swanson, employee, 5,000,000 shares of restricted common stock containing the restrictive legend, as part of an employment agreement issued Karen Davis, employee, 5,000,000 shares of restricted common stock containing the restrictive legend, at
as part of an employment agreement.
issued Lance Allison, unrelated and non-affiliated independent contractor, 500,000 shares of restricted common stock containing the restrictive legend, at $0.02 per share, as part of a services agreement.
Issued Jeffrey A. Foley, affiliated CEO & board member, 5,000,000 shares of restricted common stock containing the restrictive legend, as part of an employment agreement.
On February 20, 2013, the Company issued Joan Sherman, unrelated and non-affiliated investor, 2,000,000 shares of restricted common stock containing the restrictive legend, at $.001 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $2,000.
On February 20, 2013, the Company issued David Foley, employee, 25,000,000 shares of restricted common stock
containing the restrictive legend, at $0.001 per share, to eliminate compensation past due under the terms of an employment agreement from 2007, and reducing the company’s debt by the same amount covered in a promissory note dated December 31, 2011.
On April 12, 2013, the Company issued David Foley, employee, 20,000,000 shares of restricted common stock containing the restrictive legend, at $0.001 per share, to eliminate compensation past due under the terms of an employment agreement from 2007, and reducing the company’s debt by the same amount covered in a promissory note dated December 31, 2011.
What are the CURRENT numbers - not just from February?
Post the CURRENT TA numbers!
"PLUTUS Member Level Wednesday, 08/31/11 06:41:27 PM
Re: bobby1151 post# 79567
Post # of 119686
In the OTC, after hours Form T trades are almost without exception "late prints". They are the result of accumulated buys or sells handled on a "not held" basis through block desks. They have nothing to do with short selling in particular, but with buying and selling in general.
Let's say you are an insider, promoter, or finance guy and who has a large block of shares you want to liquidate (the most common reason for Form T trades, in my experience). You can tell your broker (who in the penny market is usually someone who specializes in this kind of work) that you want to sell "up to XXX million shares at the best price possible". He turns the order over to a market maker (it may be one from his own firm or it may be a market maker with whom his firm has an order flow agreement). In other cases, the seller may instruct his broker to "sell up to 10% of the day's volume at a positive average weighted price". The broker usually monitors the progress of the order throughout the day.
At the end of the day, the market maker handling the order will place a T-trade print on the tape for an accumulated total at the average price at which the shares were sold if there was still a balance left to sell. If the entire order had been completed during trading hours, the print will go on the tape normally.
You can pretty much tell whether the Form T trades are from large block buyers are sellers by looking at the price at which the trade was entered. If it is at the lower end of the day's price range, and the stock had been under pressure that day, it was probably from a seller. By the same token, if it was printed at the higher end of the range and the stock had been strong that day, it was likely to have been from a buyer. This rule is not absolute, however."
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=66719500
Form T block trades are usually insiders dumping - in this case most likely David Foley who has 25,000,000 shares that came off restriction after the 12 months anniversary on 20 February 2014.
Insiders or their nominee accounts holding large blocks of granted stock find a broker to work the block. During the day, the broker sells short into the market as best he can during the day (or over multiple days) and then at the end of the day (or period) the broker's account is flattened by drawing the number of shares from the insider/nominee block and journaled into the broker's name and reported as a Form T trade with the price usually being the VWAP of the broker's short sales (sometimes plus a discount, depending on the broker's rip).
Form T block trades in penny stocks are most usually insiders dumping using a broker to sell short during the market and then square-up the account after hours by transferring the requisite number of shares from an insider block into the broker account at some formula based on VWAP or otherwise relating to the average sales price for the short trades.
Huge afterhours Form T reported:
t $0.0783 500,000 OTO 16:02:55
Classic true-up transfer for insider dumping. David Foley continues to dump his 45 million restricted shares that came off restriction after 20 February 2014 (25 million) and then on 12 April 2014 (20 million).
The slow boat from China that the mythical NP-1s are allegedly on (per the late January email from NTEK's "Lorraine") and which is piloted by Capitán José Salvador Alvarenga, was last spotted on radar about 80 kilometers (50 miles) southwest of Vietnam's Tho Chu Island. Then it mysteriously disappeared and all the mythical NP-1s were lost at sea without a trace of debris found.
Fortunately, Davey can go down to the Sunnyvale Frys and pick up another 8 or 10 MadCatz MOJOs to transfer the hardware into the FoleyEnclosure, root the MOJO and add a 4K codec to the native streaming 1080p codec. So he can still have a handful for demos and shows.
At least until he enters Federal prison on 27 March 2014 for a two-year prison stretch for multiple counts of fraud related to game counterfeiting.
Convicted felon for multiple counts of FRAUD, DAVID RUSSELL FOLEY, aka Inmate #13141-111 in the Federal Bureau of Prisons beginning 27 March 2014 has a history of running paid promotional pumps for NTEK, like the one that started this weekend:
http://articles.thehotpennystocks.com/007-stock-chat-with-a-20k-pump-on-nanotech-entertainment-inc-otcmktsntek/
"According to the statement, one of NTEK‘s employees, Mr. David Foley received more than 60 million shares between March 2012 and February 2013. Some of them should still be restricted, but we can’t help but wonder: “How come an employee like David Foley receives more than the current CEO of the company, Mr. Jeffrey Foley?”.
Some of you might argue that David Foley is one of the founders and you might also say that his technical knowledge is what pushes the company forwards and that’s a fair point. What disturbs us, however, is David Foley’s past. We did a quick research on him and we found that he was once charged and later pled guilty to Conspiracy to Commit Mail and Wire Fraud and Conspiracy to Commit Bank Fraud. Whether this, coupled with the fact that he owns quite a lot of shares, will affect NTEK‘s stock performance in any way, shape or form is unknown, but we reckon that the paid pump running for them is a good enough reason to tread extremely carefully and weigh the risks before jumping in."
NTEK ran another paid promotional pump in 2012 and it failed spectacularly.
The Foley clan has tens of millions of shares to dump into the float. A tiny, newby promoter isn't going to move that amount of shares. Looks like Davey cheaped out again.
BMA Securities (BMAK). BMAK is best known for
BMA Securities (BMAK). BMAK is best known for their close association with toxic financiers.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=92846673
Another brokerage notorious for dumping insider shares coming off restriction is Vandham (VNDM). I haven't seen them on NTEK (so far) but I wouldn't be surprised if the FOLEY CLAN of massive NTEK restricted stock grant recipients might find a second or third source for dumping their shares into the market.
VNDM is notorious for working with toxic convertible financiers and the insiders who cut the sweetheart deals with the death-spiral converters in order to dump the converted shares and insider tranches.
There's also another one out of SoCal and one in NY/NJ, but I'm not going to list that now as I don't want to give Davey any ideas about who might help him get rid of those restricted shares that mature on 10 April 2014 while he's in Federal prison for multiple convictions for fraud relating to counterfeiting game technology and also bank fraud.
Maybe after he's in the joint I'll give some more brokers who have reputations for "aiding" pennystock insiders to dump.
Note that NTEK's securities lawyer out of Louisiana appears to be a solo practitioner and even advertises that he has a specialty in issuing 144 opinion letters - he even quotes his flat fee rates on his website. Now why would NTEK pick that particular fellow in Louisiana as their securities law counsel?
I guess there just aren't any securities lawyers in Silicon Valley! Cooley Godward, Gunderson Dettmer, and Wilson Sonsini are too far for Davey to drive to up in Palo Alto - easier to go to Louisiana to a guy who specializes in issuing 144 opinion letters to delegend stock.
I could say more about my opinion on this matter, but for now I won't.
I hope you did note from my post on all the restricted share issuances that DAVID RUSSELL FOLEY has another 20 million shares that can come off restriction after 10 April 2014 so don't expect his selling will abate just because he's in Federal prison. That's in addition to the 25 million shares he has which became eligible for delegending after 20 February 2014 and which certainly seem to be being fed into the retail market by CHARDAN (CHDN) sitting on the ask and filing those late Form T squaring-up block transfers that are pathognomonic for insider dumpage. Chardan being a brokerage that specializes in servicing microcaps and their insiders and does not solicit retail investor accounts...
You know he will appoint a power-of-attorney to handle his ongoing NTEK stock dumpage and give them instructions on how to PUMP and DUMP it.
Lots of insiders' stock to be dumped.
CNBC only posted what MITCH LOWE told them. The facts - and the Netflix S-1, which is a legal document subject to securities laws and extensive review by third parties, and which carries significant penalties for misrepresentations - says there are only two co-founders and they received the founder stock - NOT MITCH LOWE.
The S-1 is definitive and legally binding - CNBC and online magazines go with whatever the interviewee and their agent tell the producer/writer.
The official biography and Netflix themself state that Marc Randolph and Reed Hastings were the only co-founders.
Mitch Lowe started as CONSULTANT and then became one of many VPs - with NO FOUNDER STOCK and insignificant stock holdings as in the S-1 stock table.
Looks like "Denise" and "Lorraine" both choked on the question of who D SHOAF is and why he is listed as President, Treasurer, Director, and (registered agent) of Nanotech Media Corporation and Nanotech Communications Corporation and is NOT listed as the registered agent.
How many "Denise" and "Lorraine" characters does DAVID RUSSELL FOLEY have swimming around in his head? Well, at least after he gets out of prison after two years (assuming he does, as he might be forced into a plea deal on NTEK to spare his relatives before then and just tack on another decade or two to his release date) he will be receiving a court-mandated three-year mental health treatment for his mental condition.
And MadCatz will probably want their MOJO mainboard back from the demo "NP-1" unit with David's latest enclosure. (Whether it is the black one with the plain top that is wide-and-short like the box front, the black one with the plain top that is narrow-and-long like the box side, or the one that is golden and square and has "4K: embossed on the top, like the bizarre image of 9 empty boxes stacked irregularly and with inexplicable reverse distortions?)
Anyone got an NP-1 yet? Any photos of the mainboard?
I know some people in San Diego are waiting to buy one.
And for those who believe that the ice sculptor brother, the figurehead CEO, actually bought on the open market, they might note that the listed code can cover purchase of shares from DAVID RUSSELL FOLEY and then sold into the market without reporting the sales -
General Transaction Codes
P — Open market or private purchase of non-derivative or derivative security.
I missed the award(s) that NTEK won based on an independent testing and review of the NP-1. There are NONE.
No reviewer has been able to get their hands on one. Not even the guy who wrote the online e-zine article based entirely on what DAVID RUSSELL FOLEY told him - and promised him an NP-1 to test by the end of February but still has not been received.
I know some folks in San Diego who are anxious to get somebody to open the DAVID RUSSELL FOLEY enclosure and photograph the mainboard, or better yet send them an NP-1 so they can examine the mainboard.
MadCatz MOJO. And their lawyers. MOJO natively streams 1080p and can be rooted and modded with a codec to do 4K aftermarket - like Davey's little enclosure claims. Both have the same style of controllers too. And the console backs have the same array and locations of I/O ports! But it gets better - the MOJO is made by FOXCONN!! And the MOJO was sampled to reviewers and beta tested by the gaming community in April/May 2013, and reviews came out in early JUNE - right when Davey scrapped the old plan and went with the "NP-1" in mid-June 2013.
But alas, no NP-1s seem to exist other than in the possession of DAVID RUSSELL FOLEY or closely controlled insiders. And no loaners to reviewers either.
DAVID RUSSELL FOLEY - known purveyor of counterfeit gaming products - felon convicted for multiple fraud counts relating to selling counterfeit gaming products!
In re the NTEK claim that Mitch Lowe is a co-founder of Netflix, which is likely based solely on representations made by Mitch Lowe, I submit the following information:
"Netflix was founded in 1997 in Scotts Valley, California by Marc Randolph[16][17] and Reed Hastings, who previously had worked together at Pure Software."
http://en.wikipedia.org/wiki/Netflix
"Netflix was founded in Scotts Valley, California, in August of 1997 by Reed Hastings and Marc Randolph, both veteran "new technology" entrepreneurs, to rent and sell DVDs over the Internet."
http://www.fundinguniverse.com/company-histories/netflix-inc-history/
"Netflix: The Company and Its Founders
Marcia Amidon Lüsted
ABDO Publishing Company, Aug 1, 2012 - Juvenile Nonfiction - 112 pages
This title examines the remarkable lives of Reed Hastings and Marc Randolph and their work building the groundbreaking company Netflix. Readers will learn about each founder's background and education, as well as his early career.
http://books.google.com/books/about/Netflix.html?id=TzaItgAACAAJ
From official Netflix Wiki:
"History
Netflix headquarters in Los Gatos
Netflix was founded in 1997 in Scotts Valley, California by Marc Randolph[15][16] and Reed Hastings, who previously had worked together at Pure Software. Randolph was a co-founder of a computer mail order company by the name of MicroWarehouse. Later he was employed by Borland International as vice-president of marketing. Hastings, once a math teacher, had founded Pure Software, which he had recently sold for $700 million. Hastings invested $2.5 million in start up cash for Netflix.[17] The idea of Netflix came to Hastings when he was forced to pay $40 in overdue fines after returning Apollo 13 well past its due date.[18] The Netflix website was launched on August 29, 1997[19] with only 30 employees and 925 works available for rent and brought a more traditional, online pay-per-rental model (US $4 per rental plus US $2 in postage; late fees applied).[20] Netflix introduced the monthly subscription concept in September 1999,[21] and then dropped the single-rental model in early 2000. Since that time the company has built its reputation on the business model of flat-fee unlimited rentals without due dates, late fees, shipping and handling fees, or per title rental fees."
Not a peep about any "Mitch Lowe" in the Netflix history.
Netflix S-1 (IPO)
Mitch Lowe is NO co-founder of Netflix based on the S-1. From their IPO S-1:
Netflix management at the IPO - founders are in bold
MANAGEMENT
Executive Officers and Directors
The following table sets forth certain information with respect to our executive officers and directors as of March 31, 2000.
Name Age Position
- ---- --- --------
Reed Hastings............ 39 Chief Executive Officer, President and Chairman of the Board
Marc B. Randolph......... 41 Executive Producer and Director
Thomas R. Dillon......... 56 Vice President of Operations
Neil Hunt................ 38 Vice President of Internet Engineering
Leslie J. Kilgore........ 34 Vice President of Marketing
J. Mitchell Lowe......... 47 Vice President of Business Development
W. Barry McCarthy, Jr. .. 46 Chief Financial Officer
Patty McCord............. 46 Vice President of Human Resources
Eric P. Meyer............ 35 Vice President of Database Systems
Deborah J. Pinkston...... 38 Vice President of Sales
Timothy M. Haley......... 45 Director
Jay C. Hoag.............. 41 Director
Samir P. Master.......... 31 Director
Michael N. Schuh......... 56 Director
Mitch Lowe DID NOT GET ANY FOUNDER STOCK!
Employment Agreements and Change in Control Arrangements
In October 1997, Reed Hastings purchased 500,000 shares of our common stock under a founder's restricted stock purchase agreement. This agreement contains vesting provisions that give us the option to repurchase unvested shares at the original purchase price if Mr. Hastings' service with us is terminated. Each
month, 1/48 of the total shares purchased by Mr. Hastings becomes vested. All of Mr. Hastings' shares will be fully vested on October 20, 2001, subject to Mr. Hastings continuing to be our employee through that date. Under an amendment to this agreement entered into in June 1998, upon a change of control of NetFlix, 50% of his shares that have not yet vested will vest and will no longer be subject to repurchase by us. In addition, if Mr. Hastings' employment with the surviving corporation is terminated without cause within twelve months following the change of control, then all of his shares that have not yet vested will vest and will no longer be subject to repurchase.
In October 1997, Marc B. Randolph purchased 2,700,000 shares of our common stock under a founder's restricted stock purchase agreement. This agreement contains vesting provisions that give us the option to repurchase unvested shares at the original purchase price if Mr. Randolph's service to us is terminated. Under an amendment to this agreement entered into in June 1998, upon a change of control of NetFlix, 50% of his shares that have not yet vested will vest and will no longer be subject to repurchase by us. In addition, if Mr. Randolph's employment with the surviving corporation is terminated without cause within twelve months following the change of control, then all of his shares that havenot yet vested will vest and will no longer be subject to repurchase. Under an agreement entered into in October 1998, in connection with his resignation as our chief executive officer, Mr. Randolph returned 650,000 of his unvested shares to us. Immediately following this contribution, Mr. Randolph held 675,000 vested and 1,375,000 unvested shares of common stock of NetFlix. Each month, 1/36 of the unvested shares held by Mr. Randolph following this
contribution of shares to the company becomes vested. All of Mr. Randolph's shares will be fully vested on October 8, 2001, subject to Mr. Randolph continuing to be our employee through that date.
In April 1999, our board of directors awarded W. Barry McCarthy, Jr. an option to purchase 330,000 shares of our common stock under a stock option agreement. One-quarter of the shares underlying Mr. McCarthy's options will vest in April 2000, and 1/48 of the total shares will vest each month thereafter. Pursuant to an offer letter from us to Mr. McCarthy, upon a change of control of NetFlix, the vesting schedule will accelerate with respect to an amount of shares equal to the number of shares that would otherwise vest over the following twelve months or 50% of the unvested options, whichever is greater. All of the shares underlying Mr. McCarthy's option will be fully vested on April 14, 2003, subject to Mr. McCarthy continuing to be our employee through that date.
NO FOUNDER STOCK FOR MITCH LOWE - BECAUSE HE WAS NOT A FOUNDER!
HE WAS NOT EVEN A MAJOR STOCKHOLDER! (see below)
Principal Stockholders Table
Percent of Shares
Outstanding
-----------------
Number of
Shares
Beneficially Before After
Name and Address Owned Offering Offering
- ---------------- ------------ -------- --------
<S> <C> <C> <C>
Entities affiliated with Technology Crossover 6,997,461 22.5%
Ventures(1)....................................
575 High Street, Suite 400
Palo Alto, CA 94301
Entities affiliated with Institutional Venture 4,620,840 14.9
Partners(2)....................................
3000 Sand Hill Road
Building 2, Suite 290
Menlo Park, CA 94025
Europ@web B.V.(3)............................... 4,432,930 14.3
Locatellikade 1
Parnassustoren
1076 AZ Amsterdam
The Netherlands
Entities affiliated with Foundation Capital(4) 2,340,049 7.5
...............................................
70 Willow Road, Suite 200
Menlo Park, CA 94025
Reed Hastings................................... 7,577,572 24.4
Marc B. Randolph(5)............................. 2,042,500 6.6
Omer Malchin.................................... 106,250 *
W. Barry McCarthy, Jr.(6)....................... 89,375 *
Neil Hunt....................................... 210,000 *
Eric P. Meyer................................... 325,000 1.0
Samir P. Master(7).............................. 4,432,930 14.3
Michael N. Schuh(8)............................. 2,340,049 7.5
Jay C. Hoag(9).................................. 6,997,461 22.5
Timothy M. Haley(10)............................ 4,620,840 14.9
Not even a blip mention of Mitch Lowe in the stock table
Lots of shares issued and coming off restriction after the one-year period ...
4) Issuance History
List of securities offerings and shares issued for services in the past two years.
Securities Offerings in the past two fiscal years:
On June 19, 2012, the Company issued Bruce Schoengood, unrelated and non-affiliated investor, 29,547,945 shares of restricted common stock containing the restrictive legend, at $.001 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $29,547.95.
On July 9, 2012, the Company issued Randel Reiss, unrelated and non-affiliated investor, 3,589,808 shares of restricted
common stock containing the restrictive legend, at $.001 per share, as part of a conversion of a convertible debenture,
reducing the company’s debt by $3,589.81.
On July 26, 2012, the Company issued Long Side Venture, unrelated and non-affiliated investor, 320,000 shares of restricted common stock containing the restrictive legend, at $.001 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $2,880.00.
On August 15, 2012 the Company issued Titan Edwards, independent contractor 125,000 shares of restricted common stock containing the restrictive legend, as part of a completed services agreement from 2009.
On January 2, 2013 the Company issued Samuel Shepherd, unrelated and non-affiliated investor, 5,537,430 shares of restricted common stock containing the restrictive legend, at $0.04 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $5,537.43
On January 14, 2013 the Company entered into a buyback agreement, reducing the overall outstanding shares by 75,810,552, cancelling shares previously issued to Global Media Enterprises, in exchange for an ongoing royalty respective to certain media properties provided by Global Media to NanoTech and redistributing them as follows:
issued Worldwide Cargo, independent service provider 1,224,490 shares of restricted common stock containing the restrictive legend, at $0.0024 per share, reducing the company’s debt by $3,000.00.
issued Long Side Venture, unrelated and non-affiliated investor, 26,030,874 shares of restricted common stock containing the restrictive legend, at $.001 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $154,102.79.
issued R&T Sports Marketing, unrelated and non-affiliated investor, 42,210,703 shares of restricted common stock containing the restrictive legend, at $.001 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $55,004.32.
issued Galaxy Worldwide, unrelated and non-affiliated investor, 42,796,086 shares of restricted common stock containing the restrictive legend, at $.0004 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $14,978.63.
issued M Stephen Roberts, independent service provider 780,000 shares of restricted common stock containing the restrictive legend, at $0.001 per share, reducing the company’s debt by $780.00.
issued David Foley, employee, 6,192,637 shares of restricted common stock containing the restrictive legend, as part of his employment agreement issued Vince Cerisano, unrelated and non-affiliated investor, 17,424,658 shares of restricted common stock containing the restrictive legend, at $0.001 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $17,424.66.
issued Philip Foley, unrelated and non-affiliated independent contractor, 25,500,000 shares of restricted common stock containing the restrictive legend, at $0.006 per share, to eliminate $153,000 of compensation due under the terms of a services agreement, and reducing the company’s debt by the same amount, and acquiring license rights to proprietary technology and assets.
issued Carl Bellitti, unrelated and non-affiliated independent contractor, 25,000,000 shares of restricted common stock containing the restrictive legend, at $0.006 per share, to eliminate $150,000 of compensation due under the terms of a services agreement, and reducing the company’s debt by the same amount, and acquiring license rights to proprietary technology and assets.
Issued Alan D. Stone, affiliated board member, 3,100,000 shares of restricted common stock containing the restrictive legend, as part of a compensation agreement.
issued David Swanson, employee, 5,000,000 shares of restricted common stock containing the restrictive legend, as part of an employment agreement issued Karen Davis, employee, 5,000,000 shares of restricted common stock containing the restrictive legend, at
as part of an employment agreement.
issued Lance Allison, unrelated and non-affiliated independent contractor, 500,000 shares of restricted common stock containing the restrictive legend, at $0.02 per share, as part of a services agreement.
Issued Jeffrey A. Foley, affiliated CEO & board member, 5,000,000 shares of restricted common stock containing the restrictive legend, as part of an employment agreement.
On February 20, 2013, the Company issued Joan Sherman, unrelated and non-affiliated investor, 2,000,000 shares of restricted common stock containing the restrictive legend, at $.001 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $2,000.
On February 20, 2013, the Company issued David Foley, employee, 25,000,000 shares of restricted common stock
containing the restrictive legend, at $0.001 per share, to eliminate compensation past due under the terms of an employment agreement from 2007, and reducing the company’s debt by the same amount covered in a promissory note dated December 31, 2011.
On April 12, 2013, the Company issued David Foley, employee, 20,000,000 shares of restricted common stock containing the restrictive legend, at $0.001 per share, to eliminate compensation past due under the terms of an employment agreement from 2007, and reducing the company’s debt by the same amount covered in a promissory note dated December 31, 2011.
"They all start at NTEK "Nothing Factual Mill"...
RumorBrewers then plant the seeds...
Rumors then converted to propaganda...
Propaganda then used for Hype...
Opinions are then formed based on nothing factual"
That's because NTEK is just an insider share-selling scheme.
"Amazon Lab126 is an inventive research and development company that designs and engineers high-profile consumer electronic devices like the Kindle family of products. Lab126 began in 2004 as a subsidiary of Amazon.com. Since then, we have worked to produce hardware and software for best-selling tablets and e-readers. The Kindle family has now grown to include Kindle Fire HDX and Kindle Paperwhite, the world's most advanced e-reader."
http://www.lab126.com/
That is who is doing Amazon's product.
Amazon is not taking the MadCatz MOJO hardware (made by Foxconn!) which natively streams 1080p and putting it in a different enclosure and demo'ing it as a 4K with a different codec to tell stories to investors in order to dump tens of millions of shares of insider stock before Jeff Bezos goes to prison for multiple counts of fraud relating to game counterfeiting.
No, that would be a different company. Not Amazon.
As soon as Dave Foley can get his hands on one of the Amazon pre-production models and put the hardware into a custom enclosure - voila, NP-2 will be ready for demos!!
Of course, on the 27th he's in prison for 2 years and he can't have electronic toys in Federal prison.
Davey Demo's the NP-2 at the 2014 NTEK Shareholder Meeting:
To clarify even further, Davey doesn't have a real patent (i.e., a UTILITY patent - for an INVENTION) - all he has is a DESIGN patent (not an invention), which is to protect an ORNAMENTAL DESIGN ONLY. And this is not assigned to NTEK even.
David Foley has no INVENTION patent, only a design patent to protect an ORNAMENTAL feature and design - like a copyright of a fingerpainting by a kid.
Which raises an interesting question: does the BOP allow fingerpainting in Federal prison? I don't know the answer to that one. They might if it is part of an art class or approved hobby activity. But OTOH, there is a lot of mischief that can be done with finger paints in prison, so maybe only in an organized craft class under adult supervision. Maybe after milk and cookies and nappy time on the weekends.
Davey will have two years to make inlaid cigar boxes and fingerpaint them all up anyway he wants, then file another DESIGN patent for the ornamental appearance of the NP-2 enclosure. NTEK "R&D" (LOL!) marches on!
It's that blasted 4:00PM stand-up count every single day that really gets to them.
A real Federal prison work-of-art:
And what is the revenue from ZERO units a month?
BTW, you should check out the dismal sales of MadCatz MOJO - way below expectations. But at least they actually own their product and deliver it.
Meanwhile, known game counterfeiter DAVID RUSSELL FOLEY is heading to Federal prison for multiple fraud convictions.
And the mythical "NP-1" is still on a slow boat from Neverland.
Have Alfie and Joe announced the ratio of the reverse split yet?
But what we DO know besides the multiple discrepancies in the boxes, is that they keep showing you images of BOXES and not all the contents of those 9 boxes.
Nor has anyone received an NP-1 despite the prior statements of "Lorraine" and "Denise" claiming that pre-orders were shipping but in certain rank-orders. Yet weeks later, nobody can show a NP-1 they received, a sharp photo of the mainboard inside the enclosure, nor a report on its function.
Instead, they leak images of boxes. No PR on shipping, amounts, fulfillment underway, or examples of legit people (not company stooges) who have received them.
Just like the deceptive David Foley tweet on 22 January of a Foxconn box (only one box in the shot) and his claim that it was in the US warehouse. That was clearly securities fraud as I'm confident that a review of customs records will show that claim was false and intended to manipulate stock price. But that is just one example - David Foley has been a downright pathological liar/misleader for a long time. He's been known to counterfeit game products owned by others and claimed them as his own - falsely and illegally. He's been known to steal intellectual property of others.
He has been convicted of multiple counts of fraud and is going to prison - as a first-time offender - for two years.
So yeah, if taken in isolation, the boxes discrepancies can be "forgiven", but when taken in the context of the totality of the circumstances of Foley's egregious misstatements, deceptions, use of implication in tweets and Facebook, his outright lies, and his history as a criminal convicted on multiple counts of fraud, then the boxes look less explainable as carelessness or mere changes.
And what is the deal with D SHOUF and being President, CEO, Treasurer, Secretary, and Director of a Nano corporation that IR is stonewalling and giving no response to????
And no NP-1s ever made available to legit third parties for testing and review?
The stink of this Stinky Pinkie just grows and grows - every time you turn over a rock wirh NTEK, there is new stinky stuff to add to the huge pile.
Huh? That's just complete nonsense.
First, check the numbers on iHub's detailed quote for NTEK:
- - 4:00:01 PM EST 0.077 0.076
Day's Range 52-Wk Range Avg Volume EPS P/E
0.0768 - 0.0835 0.009 - 0.1782 3.71M N/A N/A
Market Cap Outstanding Float Dividend / Yield
46.49M 528.29M N/A N/A N/A
Short Interest Short % of Out Insider B/S Inst % Owned
289,662 0.05 % N/A N/A USOTC
289,662 shares short out of 528,290,000 outstanding.
And those are likely FTDs from insider sales of restricted shares just before they get the shares delegended and deposited and recorded in the broker's account also known as "shorting the box" - pre-selling restricted shares and then late-delivering them because of backoffice delays in delegending - resulting in FTDs that can last a week or more. Shorting the box - selling short knowing that there are restricted shares "in the box" that will come off restriction shortly and can be used to deliver the delegended shares is not exactly legal, but it happens.
Now, as you may know, short selling requires margin - and it is nearly impossible to short any issue that trades under $2 and certainly under $1 - regulations require at least $1.75 to $2 per share shorted for any issue under $1 regardless of how low it it. So to sell short 1,000,000 shares of a $0.07 stock, you would have to deposit $1,750,000 of equity or cash to sell short $70,000 worth of stock. You maximum upside would be $70,000 and you're paying margin interest everyday and tying up $1.75 million in cash/equity to get a maximum upside of $70,000 minus carrying cost margin interest.
IF you could find a brokerage that would let you sell short a sub-$1 stock, the numbers make no sense in terms of risk/reward and the tie up of capital.
And if you are going to roll out the bogus "naked shorting of pennystock" nonsense (other than "shorting the box" - which is just a synthetic sale of a long position prior to delegending of shares), then you are completely deluded.
Every scam stock - from SPNG, CMKX, CONV, LOCH, and hundreds of other scams always blame "the naked shorters" but nobody can ever find these unicorns (except in non-pennystock futures and options contracts markets). Numerous lawsuits have been filed and not a one has shown any significant NSS (other than short-term for FTDs related to shorting the box - which is not really naked because the shares are there, just not unrestricted yet).
It is the classic refrain of stuckholders in stock scams as they collapse. Nobody can seem to admit they've been duped - they always need to invent some unseen evil force that is responsible rather than the company insiders and promoters who are the ones who actually conned them.
NTEK PPS is declining for a simple reason - a lot of restricted shares have come off and will continue to come off restriction dumping tens of millions of shares into the market, and a lot of those are owned by various Foleys, including over 50,000,000 shares for David Foley himself - and he surrenders to Federal prison on March 27th.
Again, see which broker is handling the volume of NTEK selling - Chardan which specializes in handling microcaps and their insiders in dumping shares in share-selling schemes. Another notorious broker that does this is VNDM (Vandam Securities).
What you are seeing is the truly massive number of insider restricted shares that have/are/will come off restriction and ae being sold into the market.
David Foley, Inmate #13141-111, has until 27 March before he goes to prison for fraud. He and the other Foleys have tens of millions of share to dump. Even more come off restriction on April 12th.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=98463829
Look at the brokerage dumping the shares - Chardan - they do business with microcaps and their insiders - not unaffiliated retail clients. They specialize in helping microcap insiders dump their shares.
Check the Form T trades. See who is always on the ask with huge blocks. That my friend is insider dumpage in a classic pennystock share-selling scheme.
You do know that NTEK was a paid promoted stock under Foley in 2012 right?
No company in history that ever filed the fatal Form 15 voluntary non-compliance with SEC filing requirements has EVER returned to re-registration and exchange listing. NONE. Not one.
NTEK filed the fatal Form 15 in 2012. It will never be uplisted. Let's be clear - NO COMPANY that ever filed the Form 15 has ever come back to be re-registered as the same entity and uplisted.
Shells that have zeroed out all existing shareholders extinguishing all issued shares, changed name, and done a complete restart under a new name with fresh shareholders may have done it, but no company that ever filed fatal Form 15 has ever made it back.
Now, a SEPARATE PROBLEM is that NTEK cannot complete an audit because Inmate #13141-111 was in charge of the financials for the period since the last SEC-filed, audited annual report which was for 2009. But Inmate #13141-111 will be in Federal prison for the next two years and unable to transact ANY business, including responding to auditor questions or providing any input for an audit. So the auditors (assuming NTEK ever really goes forward, which so far in three announcements of audits they have never done any!) will not be able to complete an audit for at least two years until the person responsible for the financials since 2009 will be unreachable in prison until 2016!
But that is immaterial, since NTEK has stated numerous times before that they intended to do an audit and retained the same auditor, but they never once actually followed through and did it.
And, arguendo, even with an audit, no company that has ever filed the fatal Form 15 has ever made it back to re-registration and listing to any exchange. The SEC has never approved any Form 15-filing company to do so.
BTW, check out the estimated delivery date on Inmate #13141-111's latest book recommendation (sadly for him, while you can get books in prison directly from Amazon or an approved vendor, you cannot bring them in or have visitors bring them - so he won't be reading this one for two years!):
"OTC, Other OTC or Grey Market
"OTC", "Other OTC" or "Grey Market" is a security that is not currently traded on the OTCQX, OTCQB or OTC Pink marketplaces. Broker-dealers are not willing or able to publicly quote OTC securities because of a lack of investor interest, company information availability or regulatory compliance."
http://www.otcmarkets.com/learn/otc-market-tiers
"Stocks generally end up as what is commonly called Grey Sheet stocks after an SEC suspension. Technically, it is the Grey Market.
Market Makers are warned, pursuant to 15c 211 not to publish a quote for the security without reviewing its information statement/clarified information statement
Other OTC or otherwise known as the "GREY Market" is the trading of a security that is not listed on any stock exchange or quoted on the Pink Sheets or the OTCBB.
Other OTC trades are however reported to the NASD so investors can still track price and volume, however bids and offers are not collected in a central spot so Best Execution of orders is difficult.
As of September 21, 2012: From January 2010 until today there have been a total of 1116 SEC Suspensions where ALL 1116 stocks were reinstated on the Grey Sheets after the ten day SEC Suspension ended.
Of the 1116 SEC Suspended stocks since January 2010 645 Registrations have been revoked.
The remaining 471 stocks are on the Grey Sheets (or still in the ten day SEC Suspension within the last ten days) and not one has made it off the Grey Sheets back to quotation by any Market Maker.
Of the 471 stocks that are on the Grey Sheets most are awaiting revocation on DEFAULT for failure to file Financials, wherein there were no other allegations that would require subsequent SEC Litigation(s).
Stocks that were Suspended for any allegations are awaiting SEC Litigation or are being litigated and those stocks will remain on the Grey Sheets and will NOT be revoked until all SEC Litigation has been adjudicated by an SEC Administrative Law Judge.
For additional research the links below comprise all SEC Actions back to 1995.
SEC Suspensions:
http://www.sec.gov/litigation/suspensions.shtml
SEC Administrative Proceedings:
http://www.sec.gov/litigation/admin.shtml
SEC Litigations:
http://www.sec.gov/litigation/litreleases.shtml
Administrative Law Judge Orders:
http://www.sec.gov/alj/aljorders.shtml
http://investorshub.advfn.com/Grey-Sheet-Grey-Market-Stock-Info-Board-3459/
LOL - on the front of the box is an IMAGE of a wide-but-short enclosure, and on the side of the SAME BOX is an IMAGE of a narrow-but-long enclosure. Then on the Facebook pic last night, the front has an IMAGE of an enclosure that looks gold and has an embossed "4K" on the top of the enclosure, AND on the side of the topmost box in the upper left of the 9-box array, the writing slants down as you move backward into the field, not only inconsistent with the other boxes, but also inconsistent with what a fisheye lens distortion would be (indeed the oppposite).
Unfortunately, the Federal prison system does not allow inmates to use computers except for the limited functionality (and monitored) TruLINCS email system and a few computers in the law library limited to searching legal databases. Otherwise Inmate #13141-111 also known as convicted (for FRAUD) and known game counterfeiter DAVID RUSSELL FOLEY would have two years to work on his Photoshop skills.
Sadly, the Bureau of Prisons does not allow inmates to possess MadCatz MOJO game consoles and controllers.
#13141-111 will be limited to a Bic pen and a yellow legal pad for his in-prison illustrations.
You must have missed my post showing all the share issuances UP TO THE LAST REPORT on OTCmarkets.com:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=98463829
It's all in the last disclosure: http://www.otcmarkets.com/financialReportViewer?symbol=NTEK&id=116295
It would be easier just to leave it in the original MadCatz MOJO enclosure and put an NTEK sticker over the top of the enclosure.
But of course there is no intent to actually sell these, because then MadCatz could get their hands on one and might have sufficient evidence for taking action after opening the enclosure. Not only are the port locations identical on the console back, but the controllers are virtually identical except NTEK uses four buttons on the left to actuate the two-axis sensors instead of a single four-point button.
But DAVID RUSSELL FOLEY is a known game counterfeiter who has a history of designing ENCLOSURES and stealing intellectual property, so it would not be surprising to see the MOJO repackaged and modded with additional software video codecs.
How obvious they are to pump the price on tiny volume before selling a bigger block:
$0.0769 5,700 OTO 15:58:3
$0.0785 141 OTO 15:57:50
$0.0769 40,000 OTO 15:57:11
$0.077 14,300 OTO 15:56:27
Lots of shares issued and coming off restriction after the one-year period ...
4) Issuance History
List of securities offerings and shares issued for services in the past two years.
Securities Offerings in the past two fiscal years:
On June 19, 2012, the Company issued Bruce Schoengood, unrelated and non-affiliated investor, 29,547,945 shares of restricted common stock containing the restrictive legend, at $.001 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $29,547.95.
On July 9, 2012, the Company issued Randel Reiss, unrelated and non-affiliated investor, 3,589,808 shares of restricted
common stock containing the restrictive legend, at $.001 per share, as part of a conversion of a convertible debenture,
reducing the company’s debt by $3,589.81.
On July 26, 2012, the Company issued Long Side Venture, unrelated and non-affiliated investor, 320,000 shares of restricted common stock containing the restrictive legend, at $.001 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $2,880.00.
On August 15, 2012 the Company issued Titan Edwards, independent contractor 125,000 shares of restricted common stock containing the restrictive legend, as part of a completed services agreement from 2009.
On January 2, 2013 the Company issued Samuel Shepherd, unrelated and non-affiliated investor, 5,537,430 shares of restricted common stock containing the restrictive legend, at $0.04 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $5,537.43
On January 14, 2013 the Company entered into a buyback agreement, reducing the overall outstanding shares by 75,810,552, cancelling shares previously issued to Global Media Enterprises, in exchange for an ongoing royalty respective to certain media properties provided by Global Media to NanoTech and redistributing them as follows:
issued Worldwide Cargo, independent service provider 1,224,490 shares of restricted common stock containing the restrictive legend, at $0.0024 per share, reducing the company’s debt by $3,000.00.
issued Long Side Venture, unrelated and non-affiliated investor, 26,030,874 shares of restricted common stock containing the restrictive legend, at $.001 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $154,102.79.
issued R&T Sports Marketing, unrelated and non-affiliated investor, 42,210,703 shares of restricted common stock containing the restrictive legend, at $.001 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $55,004.32.
issued Galaxy Worldwide, unrelated and non-affiliated investor, 42,796,086 shares of restricted common stock containing the restrictive legend, at $.0004 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $14,978.63.
issued M Stephen Roberts, independent service provider 780,000 shares of restricted common stock containing the restrictive legend, at $0.001 per share, reducing the company’s debt by $780.00.
issued David Foley, employee, 6,192,637 shares of restricted common stock containing the restrictive legend, as part of his employment agreement issued Vince Cerisano, unrelated and non-affiliated investor, 17,424,658 shares of restricted common stock containing the restrictive legend, at $0.001 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $17,424.66.
issued Philip Foley, unrelated and non-affiliated independent contractor, 25,500,000 shares of restricted common stock containing the restrictive legend, at $0.006 per share, to eliminate $153,000 of compensation due under the terms of a services agreement, and reducing the company’s debt by the same amount, and acquiring license rights to proprietary technology and assets.
issued Carl Bellitti, unrelated and non-affiliated independent contractor, 25,000,000 shares of restricted common stock containing the restrictive legend, at $0.006 per share, to eliminate $150,000 of compensation due under the terms of a services agreement, and reducing the company’s debt by the same amount, and acquiring license rights to proprietary technology and assets.
Issued Alan D. Stone, affiliated board member, 3,100,000 shares of restricted common stock containing the restrictive legend, as part of a compensation agreement.
issued David Swanson, employee, 5,000,000 shares of restricted common stock containing the restrictive legend, as part of an employment agreement issued Karen Davis, employee, 5,000,000 shares of restricted common stock containing the restrictive legend, at
as part of an employment agreement.
issued Lance Allison, unrelated and non-affiliated independent contractor, 500,000 shares of restricted common stock containing the restrictive legend, at $0.02 per share, as part of a services agreement.
Issued Jeffrey A. Foley, affiliated CEO & board member, 5,000,000 shares of restricted common stock containing the restrictive legend, as part of an employment agreement.
On February 20, 2013, the Company issued Joan Sherman, unrelated and non-affiliated investor, 2,000,000 shares of restricted common stock containing the restrictive legend, at $.001 per share, as part of a conversion of a convertible debenture, reducing the company’s debt by $2,000.
On February 20, 2013, the Company issued David Foley, employee, 25,000,000 shares of restricted common stock
containing the restrictive legend, at $0.001 per share, to eliminate compensation past due under the terms of an employment agreement from 2007, and reducing the company’s debt by the same amount covered in a promissory note dated December 31, 2011.
On April 12, 2013, the Company issued David Foley, employee, 20,000,000 shares of restricted common stock containing
the restrictive legend, at $0.001 per share, to eliminate compensation past due under the terms of an employment agreement from 2007, and reducing the company’s debt by the same amount covered in a promissory note dated December 31, 2011.
"issued Philip Foley, unrelated and non-affiliated independent contractor, 25,500,000 shares of restricted common stock">
Ya know, I always expected David Foley would get out of prison before the SEC and DOJ could get around to sending him back in for NTEK, but with all the shenanigans involving his brother the ice sculptor as "new" CEO and share payoffs to NUMEROUS Foley relatives, I now am coming to think that DAVID RUSSELL FOLEY may not be coming out for a long time if the SEC and DOJ get him to agree to plea deals to spare his relatives.
Here's over 80 million shares issued to Foleys in just the prior year!!! And that doesn't even include issuances after the date of that post on OTCmarkets.com
Now that would be worth the price of admission - if Davy goes to prison thinking he'll be out in 2 years and then winds up doing another 10 for NTEK and not getting out for 12 years.
PAYS to be a Foley in an INSIDER ENRICHMENT SCHEME:
"issued David Foley, employee, 6,192,637 shares;
issued Philip Foley, unrelated and non-affiliated independent contractor, 25,500,000 shares at $0.006 per share;
Issued Jeffrey A. Foley, affiliated CEO & board member, 5,000,000 shares;
On February 20, 2013, the Company issued David Foley, employee, 25,000,000 shares at $0.001 per share;
On April 12, 2013, the Company issued David Foley, employee, 20,000,000 shares at $0.001 per share;
Issued Steven Foley, unrelated and non-affiliated investor, 22,831 shares as settlement of interest due from a paid convertible debenture;
Issued Richard Foley, unrelated and non-affiliated investor, 15,580 shares as settlement of interest due from a paid convertible debenture;
Issued David Foley, employee, 606,589 shares to eliminate compensation past due;
Issued David Foley, employee, 1,950,000 shares to eliminate compensation past due;
Issued David Foley, employee, 1,000,000 shares to eliminate compensation past due;
Issued David Foley, employee, 489,998 shares to eliminate compensation past due;
Issued David Foley, employee, 2,350,000 shares to eliminate compensation past due;
Issued David Foley, employee, 2,000,000 shares to eliminate compensation past due;
Issued David Foley, employee, 1,620,000 shares to eliminate compensation past due;
CHDN is Chardan Capital - which services Pinkie Companies and insiders. They do not solicit unaffiliated individual investors.
http://www.chardancm.com/
Pretty good chance they are dumping insider shares (and by insider I mean to include David Foley). David Foley has 25 million shares that reached their one-year anniversary date on 20 February 2014 and are now eligible for removal of restrictive legends and selling into the market. Chardan services Pinkies and their insiders - that's their gig.
Which broker(s) have been posting those Form T trades in NTEK like in the last week or so? Watch for which brokers are posting the Form Ts.