Replies to post #294827 on NanoTech Entertainment Inc (NTEK)

[shajandr]

NTEK is not debt-free. Check out the "filings" on OTCMarkets.com - they carry convertible debt notes constantly.

They are constantly issuing convertible debt - mostly to the Foleys as FS Global and other LLCs.

They also issued debt notes to pay the one-time Spring 2014 micro-dividend.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=103091455

shajandr
Monday, 06/09/14 11:34:17 PM
Re: lajet post# 199827
Post # of 294832

Ummm... sure. So why did NTEK have to FINANCE the trivial dividend? And why have they issued over 22,500,000 newly issued shares into the OS (and 10,000,000 more into the float) just since May 9th?

"why would you pay a dividend at this stage of the game... Reinvestment is the way forward."

NTEK issued shares to FINANCE the dividend payment!

From the 16 May 2014 quarterly:

On February 14, 2014 the Company issued Seaside 88 LP, unrelated and non-affiliated investor, 3,000,000 shares of restricted common stock containing the restrictive legend, at $0.0535 per share, as part of obligations under a previously entered into contract as well as increasing the companies cash by $160,500.

On March 26, 2014 the Company issued FS Global Capital, unrelated and non-affiliated investor, 10,000,000 shares of restricted common stock containing the restrictive legend as part of a financing agreement.

"Seaside 88 Advisors, LLC is a private equity firm. The firm invests through its fund, Seaside 88 LP. It invests in private investment in public equities (PIPEs) transactions. Seaside 88 Advisors, LLC is based in Juno Beach, Florida."

Nothing like diluting the shareholders even more by printing new stock to pay for the tiny dividend you pay out to con suckers into buying more of your ever-increasing pile of newly printed stock.

But hey, they claim to be profitable, right - those $16M a year from VODwiz and "3-4 apps on the channel" that nobody can name or has ever seen - so why not print stock to raise more money to pay the dividend, right? Adam Curry's Big App Show and On The Mike - LOL!

Umm .... oh wait, they're issuing new shares to raise cash to pay the tiny dividend? WHAT????

And now, just since May 9th, they have printed ANOTHER new 22,500,000 into the OS and 10,000,000 into free trading unrestricted (the float).

But, hey, believe they're profitable and are going to do a share buyback in June because ... they keep printing new shares every month ... wait ... WHAT?

Wow, following the gameplan of LOCH to the T. When will Davey announce the spinoff company and the SpinCo share distribution to shareholders? As soon as the Wells notice arrives.

NTEK = another LOCH. Lather. Rinse. Repeat.

Oh wait - they just announced the SpinOff - Nanotech Gaming - and HVEL - JUST AS I PREDICTED IN JUNE!!!! NTEK is repeating the well-known pennyscam playbook - the shell game and the asset spinoff to distract from the scam collapse and get existing shareholders to NOT sue because the new carrot is the spinoff shares - classic scam tactic.