https://www.youtube.com/watch?v=xLpfbcXTeo8
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
UNAUDITED financials from a Form 15 filer that is not filing required disclosures with the SEC are meaningless.
The more relevant question is what are the toxic convertible debentures that financed Davy's smoke-and-mirrors show and who really holds those toxic convertible notes and what are the terms.
That is the question you should be asking the company.
"But is 4K Netflix limited to those companies and those televisions as points of access?
"It is limited to TVs that have the capability to decode our [Netflix] 4K streams. And those will be TVs that have hardware built in to decode the HEVC H.265 stream. And there will be more TVs that do that [in the future]."
http://www.pocket-lint.com/news/126457-netflix-uhd-4k-interview-when-where-and-how-to-get-4k-content
But according to Davy, the mythical NP-1 unicorn does not decode H.265, only the older H.264 (and does NTEK even have a paid license to the old H.264 standard? or H.265??)
Looks like Davy is way behind the curve, waiting for a load of mythical NP-1 unicorns claimed to be both in the US warehouse by Davy and on a slow boat from some undisclosed Asian location by the company IR - unicorns which don't do Netflix's H.265 standard.
So "no Netflix for you!"
Whoops - oops!
WHY
will NTEK not allow any reviewer to test an NP-1?
HDTV magazine has to explain that all they can do is repackage the crapola that Foley is feeding them:
"I am expecting a Nuvola NP-1 review unit to arrive in February 2014 as the manufacturer promised this week, so I can test the quality of the player and the 4K content with a Sony 4K projector. Meanwhile, I thought the readership would appreciate this heads up article that compiles my exchanges with Mr. David R. Foley, Nano Tech’s founder and creator of the NP-1."
If David Foley's tweet of 22 January allegedly (according to him) showing boxes of Foxconn NP-1 in a US warehouse), why will he not allow the NP-1 to be tested and reviewed by an industry-recognized reviewer?
Investors know nothing about any revenues, convertible debentures, or mythical profits in this non-reporting stinky pinkie with UNAUDITED financials.
Don't you remember the company's EXCUSE for filing a Form 15 notifying the SEC that the company has ceased filing the required reports with the SEC, including financials?
It was because they didn't have the money to pay for an audit and to file the required SEC disclosure forms!
Why would an ALLEGEDLY profitable company not have the pocket change to pay for an annual audit and the nominal cost to file 10-Qs and a 10-K?
WHY?
Either they (1) don't have the money because the are NOT profitable and don't have the revenue to pay for the most basic accounting controls and reports, or (2) the company DOESN'T WANT YOU TO KNOW WHAT AN AUDIT WOULD SHOW nor what SEC-filed financials would show.
But then again, what did you expect from a Nevada corporation (the worst state corporate form for shareholders' rights and ability to force disclosure of the books from management) that is a STINKY PINKY, a history of unfulfilled promises (LIES), a founder who is a CONVICTED FELON with a history of fraud and lying, UNAUDITED financial claims, and no NP-1s offered to an independent third-party for testing and evaluation reviews.
Oh, and then there are the convertible notes that financed the company when it was dead broke in 2011-2012 so David Foley could buy his props for the Tweets he posts.
Oh no, now that the company is DARK (for a reason) you won't be hearing about those toxic convertible notes that are probably held by Foley or his nominees.....
But that's why you file a Form 15 and intentionally decide not to file required SEC reports and financial disclosures anymore - and condemn the company to Pink Sheet Hell forever!!!!
NTEK's presentation at CES was so overwhelming that of all the tens or hundreds of thousands of CES attendees, it looks like none of them decided to run out and buy NTEK stock.
Funny, but when a company has a killer product at CES, not only does it hit dozens of news sources like CNET, but the CES attendees who saw it rush to buy the stock and run up the price.
Looks like they didn't buy the NTEK demo with the laptop PC hooked up to the display kiosk and poorly concealed.
Whoops-oops.
Even David Foley couldn't wave his hands fast enough to fool very many folks at CES, as the declining share price and volume attest.
"Mr. Foley was planning to be able to work and communicate with his work if he was to face imprisonment at sentencing. Counsel, who had no experience in the practice of criminal law, never informed Mr. Foley that Mr. Foley, if imprisoned, would not be able to conduct work or communicate with co-workers about his business."
NTEK's founder, David Foley, is shocked that he can't run a home office from Federal prison and keep promoting NTEK. Oh my, that is such a shock. I'll bet he will also be crushed when he finds out that he cannot order-in pizza delivery or Chinese food in Federal prison. Shocking!
NTEK will have to find a new tweeting Twitter spokesperson, and a new frontman to shovel false rumors about the still unreleased, undelivered, NP-1 that has never been given to a major independent third-party to review and publish performance specs on. NTEK will need a new hand-waver to run the smoke-and-mirrors shows at CES and elsewhere to make it look like NTEK is trying to corral the unicorn NP-1. David Foley has been the NTEK spokesperson on Youtube. But wait til he finds out, shockingly, that he can't post videos from prison.
Is the NEW NTEK CEO, David's brother, the ice sculptor up to the task of stepping in for NTEK founder and key spokesperson, David Foley, while David is doing his two year prison sentence for fraud? We'll soon find out.
Maybe NTEK's next unicorn gizmo will be a 3-D printer-freezer that makes ice sculptures.
A new gaming project for code monkeys and script kiddies (note GG bridge in background)
It's oblivious? LOL. I've been questioned in many dozens (hundreds) of audits of public REPORTING corporations. Every annual audit. NTEK is no exception.
It is a requirement for the auditors to get verification and ask relevant questions to every company officer overseeing material contracts, vendor relations, litigations, major expenditures, reporting sales or other financial matters, and outside vendors who are providing same or similar services to the company. In fact, most audits required me to provide the audit firm with a letter attesting to what I had told them in person.
NTEK's problem is that David Foley, who was the key man from 2010 to present and did the financials for that period, will be UNAVAILABLE to provide any such answers and provide a letter attesting to same after 27 March 2014 when he self-surrenders to the Federal prison system and NTEK can no longer communicate any business matters with him (nor can anyone else).
That is NTEK's problem - ASSUMING they even would actually do an audit since they promised it many times before and retained the same auditor but never produced anything. Now the auditor has to go back and start from 2010 and verify everything since then.
But it is pointless, because NTEK filed the fatal Form 15 that condemns them to the STINKY PINKIES forever - so any audit is not reported to the SEC and is largely pointless for a non-reporting company.
So I doubt it will ever happen - just like the last couple of times they claimed to retain an audit firm and didn't follow through. It's all PR to pump the stock while insiders dump before 27 March 2014.
Vinnie was in charge of the tomato sauce. Get that smell? Three kinds of meat in the meatballs. Veal, beef, and pork. You got to have pork. That's the flavor.
Does NTEK's senior technologist David Foley even have a college degree? Did he even graduate undergrad? Where? What degree did he get?
I can't find it in any of the NTEK SEC fiiings or anywhere.
Did he even go to college? Who designed the mythical NP-1 that nobody can get and is not available for independent testing?
The most anything says is that he ATTENDED Northeastern college, not GRADUATED nor any DEGREE.
"Mr. Foley attended Northeastern University"
Did he even make it to the end of the semester? I am reminded of Blutarsky of "Animal House" - "Damn, seven years of college - down the drain".
(not including the School of Hard Knocks - a.k.a., prison)
Soon NTEK will have their senior technologist in a degree program with a solid two years of guaranteed attendance - FREE TO THE COMPANY!
FCI - Sheridan electrical engineering degree program
NTEK's David Foley tweeted some Foxconn boxes in a warehouse on 22 January. When asked what was in those Foxconn boxes in the US warehouse, he replied "NP-1".
So where are they? HDTV magazine couldn't get one for independent testing and evaluation.
So where are they? Ingram, the PAID distributor says they have NO IDEA when they might get any of the claimed NP-1.
So where are they? Were they "out for this Christmas" as NTEK's David Foley claimed on 14 November 2013 and we missed them because they sold out instantly and everyone is keeping them secret?
So where are they other than a graphic art photo posted in the iBox and a plastic gizmo at a booth at CES that has a laptop PC hooked up to the kiosk?
Now the company claims they are on some slow boat from China with no specific date to arrive in a US port - nor any data on the date or port the alleged ship left - zip, nada, nothing.
So let us know when you actually HAVE one of the NP-1 unicorns in you hands and have it working as advertised.
Paulie was doing a year for contempt and had a wonderful system for garlic. He used a razor and sliced it so thin it would liquefy in the pan with a little oil. It's a very good system.
"Has nothing to do with Dave."
Wrong. An NTEK audit has to go through all the financials, contracts, stock ledger, stock option grants, receipts, etc. since the effective date of the last audit of NTEK, which was 2009-2010. And they would have HUNDREDS of questions for David Foley, who did the financials during that time, all through the audit process up until it is finalized. They would need answers for all material contracts, all expenses, all capital purchases, employment contracts, consultant contracts, orders, inventoried goods, travel expenses, marketing expenditures, etc.
But David Foley won't be available to answer those questions after 27 March 2014 when he enters Federal prison for 2 years. It is absolutely prohibited to conduct any business or any business-related communication in Federal prison. Not by mail, phone, email, or in-person visit. It is an absolute prohibition and it is monitored and STRONGLY enforced.
So forget any NTEK audit until David Foley finishes his prison term.
Vinnie was in charge of the tomato sauce. I felt he used too many onions, but it was still a good sauce. Vinnie, don't put in too many onions!
NTEK filed a Form 15 stating that it voluntarily was refusing to file required SEC forms or audited financials with the SEC.
No company that filed a Form 15 has ever come back from Pinkieland and come back into compliance and uplisting. The SEC would have to approve that, and to date there is no record that they ever have or will.
Filing a Form 15 is a one-way trip to STINKY PINKIEVILLE. You can go dark, but you can never come back. Unless you can convince the SEC, and so far nobody has. Ever. Probably because the SEC wants it that way.
NTEK has fallen down into PINKIE LAND via a Form 15 filing and now it can't get back up.
Wash trading facilities at FCI-Herlong
What happened to all of these NTEK products from their last 10-K?
Products
Below is a list of the Company’s current product line with detailed descriptions. For more information on the Company’s products and services you can view our web site at www.NanoTechEnt.com.
MultiPin™ - There is currently only one Pinball manufacturer left in the world, Stern Pinball. While they supply over 10,000 machines per year to the market, there is a huge demand for new and innovative pinball. MultiPin™ represents the next generation in pinball. By replacing the mechanical parts of a pinball machine with state of the art electronics, MultiPin™ solves two major problems seen by operators of Pinball machines. First, it eliminates any mechanical failures, which are common amongst pinball machines. Secondly, it provides a multi-game platform that can be constantly updated with new games without having to swap out the machine. Our proprietary physics engine and motion sensors allow MultiPin™ to accurately recreate the experience of a mechanical pinball machine, while providing players with a variety of classic and modern pinball games to choose from.
Xtreme Rally Racing™ - An Xtreme Off-Road Racing Experience with no boundaries. Xtreme Rally Racing is an innovative new driving machine that features three modes of game play:
Xtreme Off-Road - Race head-to-head against other players and the computer to checkpoints while driving anywhere on the map with no preset course.
Timed Rally Stages - Classic Rally Racing on real world courses. Players will be able to race in five different countries on real world rally courses.
Xtreme Stadium Racing - Custom Stadiums designed for Xtreme racing, including a figure-8 multi-lap course with huge jumps.
NanoNET Online System - Local and worldwide head-to-head competition in real time against machines located around the world. Remote operator control of your machines including diagnostics, accounting reports, and automatic software updates and enhancements downloaded over the net. Link up to four cabinets for local multiplayer action.
Pinball Wizard ™ - Consumer Pinball enthusiasts have been growing with the advent of Visual Pinball and now Future Pinball. The official Visual Pinball forum boasts over 155,000 members, and the free version Future Pinball has been downloaded over 1 million times in the past six months, and over 500,000 copies in April 2009. We have created the only input device designed to give these players a way to experience real pinball controls on their personal computer. Based on the technology developed for the MultiPin™ product we have built a controller that lets people play pinball using traditional controls and the ability to “shake” and “nudge” the table.
Mot-Ion™ Adapter - The Mot-Ion adapter is a USB adapter that allows do-it-yourself Pinball enthusiasts to build their own cabinet using real pinball controls providing analog inputs for nudging and bumping. This kit includes everything needed to connect a pinball cabinet to a PC (I/O Board, Digital Plunger, Wiring Harness).
Opti-Gun™ Adapter - The OptiGun adapter is a USB adapter that allows players to connect Arcade Light Guns to any USB based system. This universal adapter provides a complete solution to implement an arcade game including gun inputs, force feedback outputs, digital inputs, and built-in audio amplifiers. The adapter can also be used with PC based emulators such as M.A.M.E. to connect arcade light guns on your home system.
Retr-IO™ Adapter - The Retr-IO adapter provides a standard JAMMA interface for USB based systems. This universal adapter provides a complete solution to implement an arcade game using joysticks, trackballs, spinners, and buttons, and features digital outputs and built-in audio and video amplifiers.
The board works with any PC based system including M.A.M.E and other emulation products. It provides an all-in-one solution to hooking up traditional arcade controls to your PC, or any USB system. All digital inputs and outputs are interfaced via standard keyboard commands, and appear as mapped keys to your games. The default key mappings match those of many popular PC emulation products. Two trackballs and two spinners are supported and mapped to the system as mice. The board supports four player standard configurations or two player four-way joystick and six-button configurations.
The executive C-suite (Convict suite)
"we do not have information as to when Ingram can expect to receive these products"
"It will be out for this Christmas. Period!"
Smart money is on the second Tuesday of the fifth week of Never.
BTW, you do know that Ingram simply gets paid to be a distributor and they don't put their own money up front, right? It's like saying UPS is a distributor for Amazon - or for Bob's Carmel Widgets, Inc.
US warehouse full of Foxconn boxes filled with NP-1s
More squawking from convicted felon and proven liar David Foley, founder and principal spokesman of NTEK?
Where is the mythical NP-1 that was "coming out for this Christmas" on 14 November 2013?
Where are the NP-1s in the Foxconn boxes that Foley tweeted on 22 January and then stated on this board that they contained NP-1 when asked what was in the boxes in the US warehouse that he tweeted on 22 January??
Oh well, the BS tweets will come to an abrupt end on 27 March 2014 when convicted felon David Foley, Federal inmate #13141-111 enters Federal prison to serve his two year sentence, and then receive the court-ordered mental health treatment for his post-incarceration probation/parole period.
No tweeting from prison. No internet surfing from prison. No CES smoke-and-mirror shows with a PC in prison.
No tweaking a codec in Federal prison. Just sweeping, weeping, and sleeping.
A company founder catches some Zs
"when will the Nuvola NP1 Magic Box be for sale and ship to consumers?"
"It will be out for this Christmas." - David Foley, 14 November 2013"
As an imaginary product, it will be shipping starting the second Tuesday of the fifth week of February - David guarantees it for sure this time. Or better yet, when do you want him to say that it'll come out? Just tell him and he'l verify it in a tweet from a warehouse full of Foxconn boxes.
"Anyone have a list of films and TV shows available on UltraFlix?"
Wszystko bedzie dobrze (2007)
Ile wazy kon trojanski (2002)
and Lekcje pana Kuki (2008)
But they are only available as a "soft launch", meaning nobody can actually stream them, but Foley has received the DVDs in the mail from the last Blockbuster in Warsaw that closed down.
The content distribution team uploading up the content
Bloomberg like Medibistro print whatever the interviewee tells them.
Now, read the BOOK on Netflix:
http://www.amazon.com/Netflix-Company-Founders-Technology-Pioneers/dp/1617833347
Looks at the history of the entertainment company, its founders, Reed Hastings and Marc Randolph, and how the company rose to the top of the streaming media market...Title: .Netflix..Author: .Lusted, Marcia Amidon..Publisher: .Abdo Group..Publication Date: .2012/08/01..Number of Pages: .112..Binding Type: .LIBRARY..Library of Congress: .2012011527
The two guys who got the FOUNDER STOCK. Because they were the FOUNDERS.
A tasty and nutritious meal
Mitch Lowe was not a FOUNDER. He was the VP, Bus Dev. - he got no FOUNDER STOCK, he was not with Netflix "since inception" as the founders, Hastings and Randolph were. And before he was promoted to VP, Bus Dev - he was a CONSULTANT to the company - not a FOUNDER
He is not listed by anyone BUT HIMSELF as being involved in the founding of Netflix. Not on official Netflix filings, history, websites, etc.
He is simply NOT a founder nor was he ever a major shareholder - as the FOUNDERS (Hastings and Randolph) were.
Moreover, he has not "joined NTEK" - he agreed to be on an ADVISORY BOARD. Not an officer, employee, nor director.
Board of Directors Meeting
"Too much conflict of interest if something iffy comes up. Like do they pay David Foley anything while he is in prison? Or who gets big bonuses and how much. They have set it up with a bunch of YES men - it appears."
Well, NTEK is an insiders' enrichment scheme after all.
What do you expect from a stinky pinkie pennystock that is a Nevada corporation (the most abusive US corporation type for abusing shareholders' rights and limiting disclosure), filed a Form 15 providing notice that it would no longer be filing required SEC forms and disclosures, has no current AUDITED financials, has a founder who is a convicted felon heading for prison in a month and a half, and a "product" that they won't allow any independent tester or reviewer to test out and publish their findings.
Sheesh!
This is designed as an insiders' enrichment scheme. Where else do you get the convicted felon founder getting his ice sculpting brother to take over as CEO so the convicted felon can drop off the list of Section 16 officers required to file ownership change forms with the SEC and liable for SEC enforcement against short-swing profits on stock transactions?
It's soooo obvious.
Pitching a private placement offering to a prospective non-Reg D investor who would buy via "piggybacking"
Mitch Lowe is NO co-founder of Netflix. From their 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
"BoP does provide computer time and he will have access to email"
Well, BOP inmates are allowed to use Trulincs, a very limited email system that allows text-only communication and only with pre-approved external email addresses - and yes, it is both monitored and logged for archival use.
Inmates are allowed (usually only on Saturdays and only 30 minutes at a time) to use certain computers (usually only in the law library or library) ONLY to do legal research and word processing for legal matters. They do not have the ability to surf the web, only selected legal databases.
NTEK's founder and senior technologist, David Foley, will not be able to conduct business while he is in Federal prison for two years beginning on 27 March 2014. If he is caught doing so, he will lose privileges (such as visitation, email, and possible reassignment to a more distant camp location for multiple infractions).
Lunch - 30 April 2014
David Foley filed a Motion to Modify his sentence and his probation/parole conditions on 27 January:
http://adserv.stocksite.com/images/pubdocs/foley/Foley_DN129.pdf
The Court denied him. All of his requests. With a single line. DENIED. On 29 January.
http://adserv.stocksite.com/images/pubdocs/foley/Foley_DN132.pdf
He filed a Notice of Appeal to the Ninth Circus Court of Appeals, but he has not filed an appeal itself (which is a substantive brief). Technically, no Ninth Circus appeal is pending until an actual appeal brief is filed (if it is). A Notice of Appeal simply reserves the right to appeal by informing the court of an intention to file an appeal at the appellate level and directs the District Court to prepare to send a complete copy of all case records to the Ninth Circus.
He is currently ordered to report to Federal prison on 27 March 2014 and to receive mental health treatment:
http://adserv.stocksite.com/images/pubdocs/foley/Foley_DN132.pdf
He has not been granted bail for any appeal. He is already in the Bureau of Prisons system as inmate #13141-111 scheduled to self-surrender on 27 March 2014. You can look him up - type in 13141-111 into the Inmate Locator: http://www.bop.gov/inmateloc/
He will be like the 99 percent of other Federal prisoners - his appeal (if filed) will be pending while he is in PRISON. Just like virtually all other Federal inmates - they all have appeals pending and complain that their former lawyer screwed them over (see Andy Dufresne's famous line in Shawshank Redemption). Just like Jeff Skilling (of Enron) who sat in jail while his appellate court appeal was pending - like 99.9 percent of other Federal inmates who enter a plea agreement.
GO TO JAIL. DO NOT PASS GO. DO NOT COLLECT $200.
(And to the previous poster: who ever said I was here to help people? I didn't. My hobby is following pennystock scams and pennystock CRIMINALS. Check my posting history. Also, my handle has nothing to do with my real name nor my background. It's a made-up handle.)
Nothing in that litigation with Walgreens implies anything about MMRF being even remotely legit. Big companies settle meritless litigation all the time - often times the party that sues them winds up paying all the big company's costs just to make it go away so the big company doesn't follow through and invalidate the patents, which would screw the little company from ever asserting them ever again against anyone.
I've personally seen this a lot. A sole inventor or a little patent troll company sends a "notice letter" to a big company suggesting a royalty to license some patents. Usually this gets circular filed. If the sole inventor or SmallCo is dumb enough to sue, the BigCo pays its outside counsel to find prior art, defects in patent prosecution, and experts to make obviousness arguments to prove patent invalidity or inequitable conduct in prosecution of the patent applications - presents this to the SmallCo and says "now, a-hole, here's the settlement - you pay us all our out-of-pocket expenses, give us a free paid-up license to your worthless patents, and we will keep all this information secret and not invalidate your patents so you can continue to extort royalties from all our dumber COMPETITORS"
Been there - done that - many times. (On the BigCo sides.)
LOL - "Dr." David Foley doesn't even have a college degree!
Bwahahahahaaha!
NTEK's David Foley just "attended" Northeastern. Didn't graduate. Not even a bachelor's or associate's degree.
While the same 10-K says "Mr. DeKett attended St. Vincent College and earned degrees in English BA & Philosophy BA - Summa Cum Laude."
Well, now he'll have TWO YEARS IN PRISON as a convicted felon to work on getting an associate's degree through the mail (no online courses in prison - no internet surfing!). I'm sure NTEK will pay for it.
Maybe an A.A. in Criminal Justice! Just so they can say he's a college grad.
No, nothing in that implies anything about MMRF being even remotely legit. Big companies settle meritless litigation all the time - often times the party that sues them winds up paying all the big company's costs just to make it go away so the big company doesn't follow through and invalidate the patents, which would screw the little company from ever asserting them ever again against anyone.
I've personally seen this a lot. A sole inventor or a little patent troll company sends a "notice letter" to a big company suggesting a royalty to license some patents. Usually this gets circular filed. If the sole inventor or SmallCo is dumb enough to sue, the BigCo pays its outside counsel to find prior art, defects in patent prosecution, and experts to make obviousness arguments to prove patent invalidity or inequitable conduct in prosecution of the patent applications - presents this to the SmallCo and says "now, a-hole, here's the settlement - you pay us all our out-of-pocket expenses, give us a free paid-up license to your worthless patents, and we will keep all this information secret and not invalidate your patents so you can continue to extort royalties from all our dumber COMPETITORS"
Been there - done that - many times. (On the BigCo sides.)
Does David Foley even have an engineering degree? Did he even graduate undergrad? Where? What degree did he get?
I can't find it in any of the SEC fiiings or anywhere.
Did he even go to college?
The most anything says is that he ATTENDED Northeastern college, not GRADUATED nor any DEGREE.
"Mr. Foley attended Northeastern University"
Did he even make it to the end of the semester? I am reminded of Blutarsky of "Animal House" - "Damn, seven years of college - down the drain.
(not including the School of Hard Knocks - a.k.a., prison)
Lunch - 5 April 2014
David Foley's first appeal to the District court was rejected with a one line DENIAL. What a slapdown. In fact EVERYTHING he asked for was all denied in that one line denial. The court didn't even give him the courtesy of an issue by issue reasoning for the rejection of every single issue he asked for in the appeal. A total slapdown!
He has a NOTICE TO APPEAL filed with the Ninth Circus Court of Appeals (available on PACER to public), but he has NOT been granted bail and has been ordered by the court to report to PRISON on 27 March 2014.
He may actually file an appeal brief, but that will not change his incarceration date. He currently does not have bail for an appeal. Just like 99 percent of inmates - they serve their time while the appeal is pending. (And 100 percent of prisoners claim to have been screwed by their lawyer! Just like Andy Dufresne's famous line in Shawshank Redemption.))
Just like Jeff Skilling of Enron who appealed his sentence calculation. Maybe NTEK's senior technologist will run into Jeff Skilling in the Federal pen.
Lunch - 03 April 2014 (APPEAL PENDING)
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.
Dinner - 05 April 2014
It's part of a PATTERN OF DECEIT by NTEK and Foley. Not only was the Christmas date phony. What was really in the Foxconn boxes in David Foley's tweet of a US warehouse on 22 January 2014 if the company is NOW claiming the ephemeral NP-1s are on a SLOW BOAT FROM CHINA???
Delusions?
Hallucinations?
Loss of contact with reality?
Or, as you say, lies?
Selling a Private Placement to a New Investor - 02 April 2014
14 November 2013:
Interviewer: "So when is this set top box (NP-1) coming out?"
David Foley: "It's coming out for this Christmas."
Another "error" from the Senior Technologist and Founder of NTEK.
At 47:07 of
http://kcaaradio.celestrion.net/kcaa-podcasts/aaron/20131114.html
Court-ordered mental health treatment - 30 March 2014
So what were in the boxes in the US warehouse (with ONE showing a Foxconn logo) in David Foley's infamous tweet of 22 January if the latest rumor is that the NP-1 is on a ship somewhere in the Pacific???
Will it wash up on some island in Micronesia in a year like that fisherman drifting for over a year did?
Dinner 29 March 2014
Since NTEK's founder and main spokesman, David Foley, will be in Federal prison starting 27 March 2014 and thus unable to travel to trade shows and the NTEK shareholder meeting, NTEK will have to bring the trade shows and annual shareholder meeting to him.
This could be NTEK's new HQ location, starting 27 March 2014. Note the 4K display and the many interested future investors in the demo. Perhaps this can be the location for the 2014 NTEK shareholders' meeting. Perhaps NTEK can have the company logo in a prison tat - maybe "4K 4 Life (without parole)" or "NP-1 or Manson - which will be out first?" They could have a "really soft" launch of UltraFlix stream reruns of "Locked Up", "Oz", and "Prison Break" in 4K into one of the prison's in-house channels. This is truly a "captive audience" for UltraFlix!
This could be the next CES (Criminal Electronics Show) for NTEK.
"Counsel, who had no experience in the practice of criminal law, never informed Mr. Foley that Mr. Foley, if imprisoned, would not be able to conduct work or communicate with co-workers about his business."
NTEK's founder and chief technical employee, David Foley, will have a new NTEK office starting 27 March 2014. NTEK's product development will have to go through this office:
"Mr. Foley was planning to be able to work and communicate with his work if he was to face imprisonment at sentencing. Counsel, who had no experience in the practice of criminal law, never informed Mr. Foley that Mr. Foley, if imprisoned, would not be able to conduct work or communicate with co-workers about his business."
NTEK's founder, David Foley, is shocked that he can't run a home office from Federal prison and keep promoting NTEK. Oh my, that is such a shock. I'll bet he will also be crushed when he finds out that he cannot order-in pizza delivery in Federal prison. Shocking!
NTEK will have to find a new tweeting Twitter spokesperson, and a new frontman to shovel false rumors about the still unreleased, undelivered, NP-1 that has never been given to a major independent third-party to review and publish performance specs on. David Foley has been the NTEK spokesperson on Youtube. But wait til he finds out, shockingly, that he can't post videos from prison.
Is the NEW NTEK CEO, David's brother, up to the task of stepping in for NTEK founder and key spokesperson, David Foley, while David is doing his prison sentence? We'll soon find out.
Dinner - 29 March 2014
U.S. Probation and Pre-Trial Services in their Pre-Sentence Investigation Report (PSIR) and the Court evidently found that NTEK's David Foley needs to have mental health treatment as a condition of his parole/post-prison probation and supervision.
SPECIAL CONDITION 4 (mental health treatment program)
His continued illegal stock promotion activities while an insider of the publicly traded corporation he is promoting AFTER he has been convicted is evidence that his probation/parole officer will be made aware of shortly. This pattern of continued illegal activities while on bail is material to a possible revocation of bail immediately (in which case the US Marshal would vacuum him up and deposit him in Santa Clara county jail until the BOP can take him - likely until 27 March 2014 which is his current reporting date) - and is a factor that would INCREASE his sentencing level under the Federal sentencing guidelines by REMOVING a 2-3 level credit he received for entering into a plea agreement:
"A 2- or 3-level offense level decrease is typically granted for acceptance of responsibility if the defendant accepts a plea bargain. However, the decrease will not apply if the defendant demonstrates behavior, such as continued criminal activity, that is inconsistent with acceptance of responsibility.
So Foley's continued illegal promotional activities of NTEK may come back to bite him on the rear even if he were to somehow get re-sentenced (which is about as likely as him walking on the Moon next Tuesday) - by increasing his sentencing level calculation.
Thus, I can see why the PSIR and the Court found that he needs to be in a mental health treatment program because his post-conviction behavior is clear evidence of a self-destructive mental health defect.
Breakfast - 29 March 2014
Janice, the more ridiculous assertion of the TTDZ PR is that the letter originated from a law office and the law office FORGED a dead lawyer's signature! That is not only FORGERY, but it is basically automatic disbarment if any attorney did that!
The letter was drafted and is dated 30 January 2014. No lawyer is going to write that letter and FORGE a dead lawyer's signature by Photoshopping it.
"We placed the order for the Attorney Opinion Letter with someone acting as an associate to the law firm. Later on we received the Opinion Letter after we paid the required fee, and uploaded it to the OTC site."
That is a complete lie and implausible on its face. Bye-bye, Greg (or whomever originated the PR) - you're going to be indicted when the FBI investigates this - and this bullsh*t PR is ANOTHER COUNT of securities fraud or at least attempted securities fraud if the perp didn't benefit financially. Add that to FORGERY and SECURITIES FRAUD from the posting of the forged, fake letter on OTC.