https://www.youtube.com/watch?v=xLpfbcXTeo8
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The paintjobs are so ludicrous on this scam ticker that one needs to post the day's VWAP to have any meaningful comparator.
Anybuddy who has the ability to chart the daily VWAP can see the trajectory of this pig is like that of a set of car keys dropped from the hands of a drunk trying to open his car door.
NTEK's VWAP flight trajectory is like ...
LOL @ pathetic paint yob today. This is their standard protocol, the brokerages working the large blocks of freshly CONverted stock always take a break from ruthless bid-hitting, pull their asks way up, and close with an obvious paint yob. And then the next day (or two days later) when they can sucker in more bids, they open the spigot again.
This pennyscam is just soooooo predictable.
"Hold the next trucks for now. Let the wind blow some of the stink off the pile and let the rats, gulls, and pigeons return, then start dumping those loads again!"
Oh it gets funnier - the "pull certs" talk for NTEK has now started to circulate - just like in the CMKX and SPNG scams.
No doubt that it won't be long until Crazy Al Hodges or Bill Frizzell start filing court cases against the SEC and 'naked shorts' they cannot identify and the courts dismiss them with prejudice just as they did with every single one in CMKX.
NTEK will join the pantheon of infamous pennyscams - along with ZZZZBest, Bre-X, CMKX, CYNK, SPNG, CRGP, SRGE, and LOCH. All 'killed' by unnamed, unidentifiable 'naked shorts'.
It is all so predictable.
Blaming 'naked shorts' again?
New strategy to drone ISIS and drive them to suicide from frustration:
EMBR drones to drop bacon-wrapped shrimp on Raqqa.
As of today 15 Dec 2015:
(12/15/2015)
Outstanding: 1,613,376,342
Unrestricted (FLOAT): 1,576,513,259
Weeeeeee!!! Santa is bringing more shares!!!
Death Spirals are fun!
"Stop by and ask them what the payload is?"
Pancake batter dispensed by pressurized spray cans of course!
Mauritius, Seychelles, and Comoro Islands are all good places for financial shenanagans and money laundering. The Comoros are a good front for companies that purport to be in the petroleum exploration and development biz as a ploy to 'explain' the transfers of large blocks of funds (as the oil/gas biz is known to be capital intensive) - many of these shells have never done anything related to petroleum nor will they. They are just conduits in the money laundromat.
One of the still-hidden spots is the Nicobar and Andaman Islands, which is a territory of India that is administered by a quasi-military entity. It is a very corrupt place where a little money can get you whatever you want - and it is somewhat insulated from India bureaucratically, so it's tough for the State Dept and other Federal agencies to gett cooperation - it's nott like just calling India and asking for information.
The real good locales for money washing and shady transactions are ones very few ever hear of. Any place the USA has little influence is always a candidate, given certain other capacities to transfer funds and be recognized internationally for legal purposes re: business entities domiciled there.
Don't forget Foley's FS Global Capital which was also on his server and which did floorless and 0.001 convertible notes with NTEK in 2013 and 2014. That was one of his front finance companies for backdated convertible debt. That was before Royal Capital Group was created on his server - less than 12 months ago (Feb 2015).
Please be aware that these entities are nott necessarily incorporated anywhere. They can be partnerships or sole proprietorships with little to no documentation.
All they really need is a bank account (recall Foley had a Bank of America account under the name "B.B." for funneling proceeds from Daddona selling his bootleg counterfeit Namco games on USB fobs via eBay). And to get a bank account, all you need do is file a fictitious business name form with a county registrar, and you are SUPPOSED to publish the DBA in a publication (but you can skip that step), take the fictitious business name papers to any bank and you can open an account in that business name with a nominal deposit. You can even call the business an "Inc. or an LLC" even though it is nott legally one.
So if Foley is as crooked as he appears to be, he probably knows that and it will be hard to find the source of FS Global and Royal Capital Group without a court case that permits one to pose interrogs and document requests to Foley directly.
Interesting - does that indicate Hand was in the Miami-Dade lockup or in the MDC-Miami (where he should have been processed)? Does it indicate which facility he was booked into?
Let me clear that all up for you in a brief executive summary format.
(1) Bahige/Bahije/Bahij/Bassam/Bassir/Baji/Bassar "Bill" Chaaban/Chaban/Shaaban/Shaban - the man of a thousand names and self-admitted man of dozens of different signatures is a CROOK.
(2) Jame Robinson, PERSONAL owner of a "Giddy Up" trademark APPLICATION (which is NOT assigned to any company but is owned by him, to the extent that an APPLICATION has any value at all, is a RECIDIVIST scammer and has failed previously with a "Gitty Up" drink that never materialized. James Robinson is a career CROOK.
(3) FITX and CEN are scams designed nott to operate as legitimate businesses, butt only as conduits for funneling penny scam stock proceeds to "Bill" Chaaban/Shaaban, James Robinson, and a bunch of their co-scammers like Randy Hamdan (another recidivist pennyscammer) and Cousin Jim (recipient of a free pole barn and huge over-market rent payments paid from FITX share sales proceeds.)
That is all.
2015 - Floorless Convertible Debt Notes Added (from 10-Q):
4. Convertible Debenture
On March 23, 2015, the Company issued $100,000 convertible debentures. The maturity date is September 23, 2015. The convertible debentures bear interest at a rate of eight-percent (8%) per annum. Until the ninetieth day after the issuance date the Company may pay the principal at a cash redemption premium of 130%, in addition to outstanding interest, without the Holder’s consent; from the 90th day after the issuance date to the maturity date, the Company may pay the principal at a cash redemption premium of 135%, in addition to outstanding interest, without the Holder’s consent. After maturity date the Company may not repay the Note, in whole or in part, under any circumstance without obtaining the Holder’s consent. If the Company requests to repay the Note after the maturity date and obtain the Holder’s consent to do so, the Company must pay the Note’s outstanding principal at a cash redemption premium of 150%, in addition to outstanding interest. At the Holder’s option, principle and unpaid accrued interest shall be convertible into common stock at a rate of a 40% discount to the lowest price during the previous twenty trading days to the date of conversion. On the September 24, 2015, the Holder elected to convert a $10,000 into 83,292 shares of the Company’s Common Stock at $0.12006 per share. The remaining balance of $90,000 was overdue and outstanding as of September 30, 2015. On the October 14, 2015, the Holder elected to convert a $20,000 into 237,925 shares of the Company’s Common Stock at $0.08406 per share. On the November 3, 2015, the Holder elected to convert a $20,000 into 416,666 shares of the Company’s Common Stock at $0.048 per share.
On April 1, 2015, the Company issued a $125,000 convertible redeemable note. The maturity date is March 31, 2016. The convertible debentures bear interest at a rate of eight-percent (8%) per annum. The Convertible price is equal to 58% of lowest trading price of the common stock as reported on the national Quotations Bureau OTCQB exchange which the Company’s shares are traded or any exchange upon which the common stock may be traded in the future, for the twenty prior trading days including the day upon which a Notice of Conversion is received by the company. The Company received money on April 1, 2015. On the October 7, 2015, the Holder elected to convert a $7,500 plus accrued interest $311 into 96,121 shares of the Company’s Common Stock at $0.081258 per share.
On June 5, 2015, the Company entered into and closed a securities purchase agreement (the “St. George SPA”) with St. George Investments LLC (“St. George”), pursuant to which the Company issued, sold to St. George a convertible promissory note in the principal amount of $110,000 (the “St. George Note”) for a purchase price of $100,000, and granted to St. George a number of warrants (St. George Warrants”) that are equal to $55,000, divided by the Conversion Price, with an exercise price of $1.00 that have an expiration date which is the last calendar day of the month in which the first anniversary of the Issue Date occurs. The St. George Note is convertible into the Company’s common stock at a conversion price equal to 62% of the lowest closing bid price of the common stock for the twenty trading days prior to conversion. Repayment of the St. George Note is due one year from the date of issuance. The St. George Note accrues interest at the rate of 8% per year, due at maturity. The Company may prepay the St. George Note, upon five days written notice and subject to the optional prepayment amount of 125% multiplied by the then outstanding balance on the St. George Note.
On July 22, 2015, the Company entered a securities purchase agreement. The buyer wished to purchase from the Company securities consisting of the Company’s Convertible Debenture due three years from the respective date of issuance, which will be convertible into shares of the Company’s common stock in the aggregate principal amount of up to $335,000, for an aggregate purchase price of up to $301,500. Conversion price is 60% of the lowest closing bid price of Common stock for the 20 trading days immediately preceding the date of conversion of the Debentures. Three Debentures will be issued. “Signing Debenture” is the first of the three Debentures, in the principal amount of $85,000, to be issued by the Company on Signing Closing date. On July 22, 2015 the Company issued “Signing Debenture” for $85,000. The Company received the money on July 24, 2015. “Second Debenture” is the second of three Debentures, in the principal amount $125,000, which is issued by the Company at any time 61 to 100 days following the signing closing date. “Third Debenture” is the third of the three Debentures, in the principal amount of $125,000, to be issued by the Company at any time 61 to 100 days following the Second Debenture issued date.
The Compound derivative comprises certain derivative features embedded in the host convertible debenture contracts including the conversion feature and warrants both of which contain anti-dilution protections. These instruments were combined into one compound derivative and bifurcated from the host instrument at fair value. The Company applied the Black-Scholes Merton valuation technique to fair value these derivatives because this technique embodies all of the assumptions necessary to fair value these compound derivative instruments. Since the derivative financial instruments are required to be recorded, both initially, and subsequently, at fair value, there were insufficient proceeds to allocate any amount to the convertible debentures and, accordingly, it has no carrying value on the date of inception. Additionally, proceeds were insufficient to record the fair values of the derivative financial instruments, resulting in initial interest expense of $295,581. It should be noted that the derivative instruments will be adjusted to fair value at each reporting date. The initial fair value of the derivative was $780,125. There was a gain on the fair value derivative of $348,614 and reclassified $12,497 as additional paid in capital on conversion, resulting in the end balance of $467,865.
5. Line of Credit
On August 7, 2015, The Company issued a Revolving Line of Credit Promissory Note with the principal sum up to $250,000. Revolving line of credit available for a period of 12 months. Interest rate is 1.8% every 30 days. As of September 30, 2015, unpaid principal balance is $10,000.
So, NUUU now has a bunch of toxic floorless convertible debt. Weeeee!!! Death Spirals are fun! Floorless convertible death spirals are exciting!!!
There is no bottom in floorless convertible Death Spirals - and NTEK is in one and has been since at least last February. Once they issued the NEW Series A Preferred SUPRVOTING shares to DaFoleys, the commons were screwed and the conversion floodgates opened wide and have stayed open (as they do) in an endless flood of new shares illegally dumped directly into the float using backdated notes, driving the PPS down and the share count up - and then the reverse split is looming after they max ~OUTT the current AS.
Death Spirals are fun. Especially when run by the founder who is currently in prison for multiple fraud convictions already.
Marty said it best in Michael Clayton:
MARTY
Why? Because people are f_cking
incomprehensible. Why? ... (waving the idea away)
I've never understood people complaining that they believe something is totally rigged against them, yet they keep pumping money into it.
Never in the history of pennystocks have these mythical "naked shorts' been forced to cover and sparked a huge rally and a legitimate company then survived and prospered. Never.
In every single case, the mythical "naked shorts" seem to win, with the alleged 'target company' being forced ~OUTT of business and into bankruptcy, SEC lawsuits, shareholder lawsuits, and often with company insiders going to prison (again in many cases).
So why would any sane person who believes that they are being set up to lose to a power (the mythical naked shorts - who never lose) that is unbeatable, throw their munny into that fire?
And if the evil MMs are 'manipulating the PPS down' - and they've 'manipulated it' down over 90 percent, why could they nott run it down ANOTHER 90 percent from here, and then another 90 percent from there? It happens on all the other pennyscam tickers. Down, down, down, reverse split, down, down, down, second RS, down, down, down, then gone.
And in NTEK's case, the company has multiple pending lawsuits for FRAUD, the founder and de facto CEO is currently in prison doing a stretch for multiple independent convictions for FRAUD, and it is now completely obvious to all that Foley is the fraudster hiding behind the backdated FLOORLESS CONVERTIBLE DEBTHOLDERS - FS Global Capital and ROYAL CAPITAL GROUP.
Throwing munny into NTEK is like parachuting into Raqqa, Syria thinking one is going to sell Christmas trees and pork sausages to the ISIS people.
People are just f_king incomprehensible.
Welcome to NTEK. Warm your feet by the fire and tell us again about those nasty shorts.
Royal Capital FoleyGroup has to convert and dump NTEK shares because this Christmas ...
... more munny is needed for presents for the poolboy ...
... who is 'daddy' this Christmas, in more ways than one ...
... shares have to be printed and sold to pay the poolboy for his services ...
... munny to gas up the Maserati and oil up the missus ...
... while 'old daddy' has to work on Christmas day.
It's mid-December, is the June audit that was coming "in a few days" ready yet?
Of course not.
Nor is any S-1 even being drafted.
Richard Baker fled the Bored (sic) of Directors after only TWO MONTHS like a horse with its tail on fire.
Still no gaming license APPLICATION filed.
DaFoley Royal Screwjob Capital is razing munny for a NTEK shareholders Christmas non-meeting party.
Meanwhile, all the VOTES are held by DaFoley and his SUPERVOTING Class A Preferred SUPERVOTING shares, as the COMMONs bleed.
NTEK would like to assplain the benefits of the reverse split to the COMMON stock shareholders
0.0038 BAM!!!! FACT!!!! OOPS!!!
"why was SpongeTech one of the 95 companies affected by a one week lift of their global trading locks, which was done to allow for the clean-up of "Aged Fails" in August 2011?"
1. Where did you come up with this claim? Source and link please.
2. The 2+ Billion unregistered shares that Mosky ordered the TA to issue and used fake 'David Bomart" 144 letters to allow to be sold - well, the SEC suspended trading on SPNG because it became difficult if nott nearly impossible to identify WHICH of the 2+ Billion shares that were being traded were ILLEGAL shares that were nott registered and nott entitled to a 144 exemption. Further trading of those ILLEGAL shares would simply harm even MORE potential buyers - who would be unknowingly purchasing ILLEGAL, UNREGISTERED shares which could nott legally be traded. Thus, purchases that were made butt for which the shares had nott yet been transferred (delivered) by the backoffices could nott receive shares once the SEC suspended trading and DTCC global lock.
After 12 months (of the global freeze), all 2+ Billion shares, even though unregistered were at least theoretically eligible for a 144 or other exemption due to fulfilling a 12 month holding period. So, it was then at least arguably legal to allow the books to be squared and all pending (butt frozen) transfers. That would at least be one way to 'clean up the books'.
However, I'd like to see your evidence of this 'clean up' in any case. Butt #2 is a presumptive explanation if it did indeed occur as you claim.
And in any case, your claim directly conflicts with the claim of 'naked shorts' in SPNG. Unless you are mischaracterizing 'naked shorts' as being the parties that ILLEGALLY SOLD UNREGISTERED, BUTT ISSUED SPNG shares into the market - in which case your claim is directly attributable to Moskowitz, who authorized the issuance of well over 2 Billion shares and who supplied illegitimate 144 opinion letters to the TA. Butt that is NOTT 'naked shorting'.
And that is what we have all been stating since Day One of Mosky's and Metter's arrests. They sold unregistered shares illegally into the market.
There is zero evidence of any 'naked shorting' of SPNG. No such evidence is provided in ANY of your letters to DaJudge nor in any of the posts on iHub. None.
And BILLIONS more shares in the printing press feed tray ... ENDLESS DILUTION for DaFoley's endless backdated floorless convertible debt notes. BAM!!! FACT!!!
A BILLION new shares printed in the last year - all dumped right into the FLOAT and dumped. BAM!!! FACT!!!
And BILLIONS more shares COMING. Dilution every week - like clockwork. BAM!!! FACT!!!
Backdated floorless convertible DEATH SPIRALS are fun!!!!
BAM!!! FACT!!!
BILLIONS more shares being printed and dumped directly into the float
Death Spiral floorless convertibles are fun!
That's a great way to lose money in this ongoing securities fraud by DaFoley in his illegal backdated floorless convertible notes and endless share printing and stock distribution scam designed and executed to only enrich insiders at the expense of retail investors.
BAM! FACT!
DaFoleyFelon will be returning to the BOP for an Extended Stay for his CURRENT crimes of securities fraud, wire fraud, CONspiracy to commit securities fraud, money laundering, structuring, et seq.
NTEK will get him another go-round at his current dishwashing gig - only for a MUCH longer time-in-residence.
Number of NTEK personnel sued for fraud in civil lawsuits: 12
Aaron "Wire Transfer" Taylor, David Russell Foley (Federal Inmate No. 13141-111), and Does 1 through 10.
LMAO! Nope.
From your link:
"1997
Reed Hastings and fellow software executive Marc Randolph co-found Netflix to offer online movie rentals.
Neither has ever had anything to do with the NTEK/NTGL scam.
https://pr.netflix.com/WebClient/loginPageSalesNetWorksAction.do?contentGroupId=10477&contentGroup=Company+Timeline
Number of NTEK personnel currently held by Federal Bureau of Prisons: 1
Number of NTEK shares held by institutions (nott counting CI-Taft): 0
WOW!!!! That means ...
... absolutely nothing.
cause NTEK gott ENDLESS SHARES being printed daily.
and
cause spending $700,000 for a short-term lease of Interstellar to generate a GROSS revenue of $1,648.35 is an even worse scam business model than buying and shipping a sponge for $10 and selling it for $3.88 retail with half of the $3.88 going to the retailer.
NTEK is the new SPNG!
How often does one gett an opportunity to lose massive amounts of munny in an obvious scam pennyscam stock where over half the share issuances are freebies and toxic floorless convertible conversions to the founder and de facto CEO who is currently serving a prison term in Federal prison for multiple independent convictions for fraud?
NTEK and NTGL are truly special opportunities to hand munny over to a reidivist convicted felon while he is currently in Federal prison.
Never has a prison dishwashing job paid so well!
DaFoleyFelon is cleaning upp!
Save those emails from DaFoley! Everybuddy should save all emails and PMs received from any Foley, Wire Transfer Taylor, Danny W(r)ong, Lorraine Culivan-Foley, Al Stone(d), Ted Campbell, Aarong HighballWaterTower, Jeff Foley, Petey, Denise Clifford, Sadler Gibbs, all NTEK transfer agents, and anyone with an ntek.com, nanotechent.com, or other NTEK-related domain.
Archive all that sheet!