NanoTech Entertainment Inc (NTEK)

[shajandr]

"If all the moneys coming in from the scam are going to pay off old debts, why do it at all?"

Because they are legally obligated to do so. The floorless convertible notes require the company to either RS or raise AS as needed to accommodate the issuances of shares per the floorless notes.

Virtually every floorless convertible debenture nore contains this provision, and it's legally enforceable in the courts - and is is fact threatened or litigated often. Every time that I know of, the courts nott only force the company to raise the AS (or do an RS) AND also award the plaintiff CD holder money damages.