NanoTech Entertainment Inc (NTEK)

[Zorax]

BeverlyH Friday, 04/16/21 11:57:58 AM
Re: None
Post # of 379710

My take on today's hearing...

Foley was admonished to stop raising any funding or monies from anyone.

Evidently the alleged violation was a $5,000 loan from a family member, who was to be repaid via any profits from streaming rentals.

The judge wants no ambiguity going forward, otherwise bond revoked an into custody he goes. Last warning, per the judge.

There goes the $21M loan - it's DOA.

There goes any new funding into NTEK - it's DOA.

There goes any new funding for Ultraflix - it's DOA.

One has to wonder why in the world anyone would invest in a company that can't pay the bills via normal operations, can't issue shares and has no avenue for bringing money into the company.