NanoTech Entertainment Inc (NTEK)

[BeverlyH]

The 9.5 million share dilution is very current....

Any idea what the rational is?

It isn't to pay the lawsuits. Paying off K2 and Long Side would require somewhere north of 50 million shares getting dumped into the market at the current PPS.

It isn't to pay for any major studio license. Three days from the big faux Cannes reveal, and none of the flicks from Foley's pumper blog are available on Ultraflix. Not a single (rogue) one.

It isn't to get Foley's house back. As reported here, Casa De Felon went into foreclosure a while back and was already sold out from under him for non-payment. Ironic, as that was the same house he scammed a mortgage company to get - one of the additional fraud convictions that landed him in Federal Prison and now has him reporting to his parole officer each and every week.

It isn't for Foley's ticket to Cannes. The terms of his probation and mental health requirements prevent him from traveling.

It isn't to rectify sister company NTGL's business license, as the gaming "entity" and their ability to conduct any business whatsoever is currently revoked.

And it most certainly isn't for audits. Foley refuses to disclose anything - even refusing to answer the most simple of questions as repeated demanded by the courts. It appears he's even willing to let Gulas and his brother Jeffey could to jail to avoid doing so.

It's all very confusing.