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WIZARDRY! In regards to Vic Devlaeminck, the

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Dr.Poison Member Level  Tuesday, 01/08/19 11:13:19 AM
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WIZARDRY! In regards to Vic Devlaeminck, the assessment that any deferred compensation owed to Vic has been settled as of the 2018 filings is correct. The "extraordinary gain" is not creative accounting, but instead the proper term used by book keepers to identify a gain that is not frequent or reoccurring. In fact, by using such a ters in the financials, Nexus has notified investors of the fact that this $145k gain can not be expected on future filings, and is instead a unique entry. We can speculate as to why Vic agreed to settle this debt, but the fact remains that it has been forgiven.

Next, the fact that Nexus/Minsky used Vic to file the current letter does not conclusively mean that Vic will be the attorney of record moving forward. It is not unusual for a new executive to join a company and use existing third party providers during transition phases. In this case, Vic has the most knowledge about certain filings, financials etc. that existed prior to Minsky coming on board so it is logical and efficient to have him write the opinion letter. If Vic proves to be incapable of doing his job consistent with applicable rules and regulations, then I'm sure he will be replaced as would any other third party provider.

Now on to the notion about "And I bet Schaefer authored the annual disclosure, even though he supposedly hired Minsky back in January 2018": What you are saying is pure speculation and irresponsible. Minsky's name was on the filing, and as such MINSKY authorized the disclosure. There is a factual record that Minsky began his employment with Nexus in January, but no factual proof of your assertions. It is entirely reasonable that such information would not be released to the public until Minsky had the time to evaluate the shell, work on overdue filings and get all business and reporting requirements in order. We all know the OTC is a fickle environment where investors expect immediate action following news/press releases, so it makes perfect sense to delay the announcement.

Finally, anyone can disparage Bill Schaefer as there are FACTS and documentation related to his wrong doings, but to do so about others is irresponsible. Please understand that Ron Minsky is licensed with the State Bar of New York (and other states), where he was required to meet a very high moral standard and background check. The same can be said about Bill Maxcy, who is a licensed real estate salesperson in the state of New York. In order to hold certain state issued licenses, criminal records are searched extensively to protect any future client of the licensee. As such, these two men have been vetted and thus have more credibility than the majority of executives involved in the OTC.

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