I forget where I read it but her net worth was like $880 million.
But I figured she ran up about $7 million in debt on the NXGA balance sheet and even for someone that wealthy, if they can avoid spending it they do by all means possible. Plus to catch up the filings, payoff the debt, and pay the $5 million royalty, she's looking at over $10 million.
Her intention in my opinion was to use NXGA to pay for the start up of Ceek, which she did and then dumped all the bills on NXGA. That way she basically got Ceek off the ground and running for free. But the only way she could get people to buy in and get approval for financing was to sign over the rights to the tech first to the company.
One place I think she screwed up is she should of resigned first. That way NXGA could of sold her the tech back for her shares with no strings attached. But that's not what she did. She literally buried the company in debt, then in her last 30 days she raised the authorized shares by 1,000%, signed backed over to herself the Ceek rights, stole the Universal deal, THEN quit. And I think it went down that way because no one trusted her and she didn't trust anyone. She was afraid that the company might of turned on her.
I'm not an attorney but even I can see that there is a case in there somewhere. The problem is getting an attorney to listen to someone who owns shares of this stinky pink sheet company in the same time frame all this went down AND have the money to go up against her attorneys imo.
Also by going private, its all profit now and no one to answer to. But the deal with Universal is snowballing with other big deals. I don't remember off hand but if you google it they pop up. Some huge names in the music industry. I would think shareholders would be entitled to share in the profits as well simply because I can't find anywhere that Universal canceled the contract with NXGA and reassigned it with Ceek. Makes you wonder no?
As far as her playing the race card, that's just a shame to her race. Here you have a very wealth lady who rose above it all to a level of phenomenal success. She is someone who imo should never, ever blame her race for not being able to do something but give it credit for making her the woman she is today. But it just shows how low she can go by using her race as an excuse. Also just to see how big her balls are, Ceek and NXGA actually share the same address and phone number. Amazing she's getting away with this imo.
But it all, I think VR will catch on. Just watch out for the scammers. There'll prob be stinky pinkies popping up claiming they are the next Google or Sony lol, just like the MJ boom. Get in early, sell quick, and bank it.
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