Replies to post #24938 on NanoTech Gaming Inc (NTGL)

[norcalgold]

"did not go after FH on a legal front. Well my answer to that is....we were. I was not a player in that process. WC lead the effort. But it stalled out IMO because of the recent reinstatement and other DD that was uncovered. "

Stalled out?? now the company is ITAR compliant. Excellent time to put the heat on .. Use discovery and take the information we want. Force his hand and take his company in punitive damages if he does not respond favorably. I bet there are more than a few hungry firms that would take this on.

[Penemy]

@penny. Your right about what you said. But if the reason for this is an uplist, he can't speak now. It's not worth it because the pps would fly. If it was me, i would personally speak one day before. Think about this If he uplists and gets there being undervalued, he is going to boom, day 1 on the new exchange because all fundamentals will come into play and a slew of new investors. Like this, he can reward the longs, the company makes a killing an has a slew of options, and he screws all the penny flippers in the process because they would be flipping all the way to the uplist. Like this, most of them wont make a dime, except for those who are already in. The others, assuming its a 9am PR, wont even get in because of the gap up and run at the bell. Theres just too many easier ways to screw the SH for FH to do it like this.

Haha i have a feeling im right. And i hope I am too. Believe me, If i felt I was wrong, I would bash a stock that I'm in. You see my recent bashing of FDM* after looking into the sec filings, etc.

[WhatsCookin]

Pennyworld, you are so wrong about the DD. One of the purposes of the DD was to determine if we had a company that was worth waging the legal battle to get information out of Cetek. It is also important to have, if we decide the legal route is the only way to force Mr Hilal to exercise his fiduciary responsibility to shareholders, then you need to have evidence to present to the attorneys to have any chance of a contingency fee, instead of plunking down $50k or more upfront.

As I dutifully reported to this board over a period from about 12-18 months ago, I talked with legal firm after legal firm about a contingency case where we would commit a huge number of shares to satisfy their fees. And I was politely turned down over and over and over because they weren't interested in a no bid stock where you couldn't provide evidence of their revenues. (You will recall that I made this argument forcefully with Orangeman about suppliers accepting Cetek shares for payments. It isn't happening because no one will accept no bid shares unless there is compelling evidence to the contrary. I know from experience.)

I now believe with our new DD that we have a chance for a contingency. But, and here's the even more important point about the DD. If we do decide the legal route is necessary, there are now enough large shareholders here who know that it will be in their best interests to not only take that action but support it financially. And I, of course am one of those, thanks to the DD.

The important point is that legal action was not taken in the past because we couldn't get a contingency and no one knew if the juice would be worth the squeeze financially. Now we do, again thanks to the DD. But all indications, according to the DD are that it won't be necessary. That's the importance of good DD.