NewMarket Technology (fka NWMT)

[Charleoi]

"Lastly, how much value did NMKT give away to the shareholders of the shell company?"

Shareholders deserve to know this. The fact that you have to ask the question is telling. It wasn't disclosed. Why?

Also, in order to properly understand the cost of this deal (buying a publically listed company that was rejected for bankruptcy protection), you have to factor in:
1. Current liabilities exceed current assets by $400k - that's a future cash outflow
2. Part of NMKT China was given away to the shareholders of the public company
3. There's overhand from being a bankrupt company...regardless of switching the name and ticker symbol


Having said that, I think Phil's NMKT China story is a big lie. There is no sign of office infrastructure on the balance sheet, nor has he every disclosed in an SEC filing China's actual results.