NanoTech Entertainment Inc (NTEK)

[Arthur]

Also, it is financial fraud to put a $21M Note Receivable asset on your financials, when there was no such contract signed. And no, Letters of Intent are not Assets.

The $21M was also booked as a $21M Convertible Note Payable liability. What were the terms of the Note ? The interest rate ? The maturation rate ? Does it converts into shares at a fixed rate, or at a floorless discount ? What are the penalties ?

None of those details appear in the Financials. Standard practice is to happen the entire Note contract to your financials. How else could the shareholders figure out if the conditions of that loan are good or bad for the long-term value of the stock ?

No company officer bothered to sign those financials, but in the Disclosure Statement, the company officers were listed as

Jeffrey A. Foley, Chairman
Philip Foley, Director

There are severe penalties for filing bogus financial statements.