Replies to post #8520 on NuTech Energy Resources Inc. (NERG)

[killinit]

Trying to understand this.... So PR firm gets 1B shares at .002 /$2M, CEO gets 2B shares/$4M after..... Once a these shares have been vested or there is a buyout? 20B shares issued? 40B shares still locked? So company staying it's fair market is $120M?

[watcher01]

Whoops, my bad everybody, my bad



In connection with the preparation of our disclosure and financial statements ended for the period of November 30, 2015 (the “Reporting Statements”), the Company determined that it had a material weakness in its internal control over Reporting Statements. By the preparation of its reporting statements as of November 30, 2015, the Company had not had the opportunity to remedy such deficiencies. Such deficiencies resulted in a material misstatement pertaining to the acquisition of CMB gas wells, equipment and pipeline located in Campbell County, Wyoming and issuance of shares described more specifically in Item 4 which resulted in the amended filing of the Compamy’s third quarter reports. To remedy such deficiencies, the Company has is creating a more effective control flow process to assist with such reporting statements and will evaluate its internal controls pursuant to each quarter.

[techno53]

Where is the income from the wells??? There is none.