Replies to post #368618 on NanoTech Entertainment Inc (NTEK)

[Sleepy2016]

Absolutely. The "buyback" is just another carrot to dangle. The proxy also notes another 150 million shares to be issued for insider compensation. That will push the OS far above the AS they propse reducing.

The whole thing is a farce.

[underdog150]

Since this is a scam they can claim anything they want, and the lemmings will buy into it every day like they have for years.
Many investors here are down 10's of thousands of dollars, some way more than that.
It's pathetic some still believe the bullshit this company puts out after all the old promotions died on the vine while new lies took their place.
Any long still buying into this scam after all these years deserves their losses.
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Underdog: a company is forbidden by financial laws to effect a shares buy-back without audited financials showing assets that exceed the debt:

"For a buyback to be legal what they need to have is net assets after accounting for the Company's liabilities and any amounts due to preferred shareholders. The reason is that a stock buyback is considered to be a distribution to common shareholders, and by law, they are only allowed to distribute assets to common shareholders that are actually owned by common shareholders. And common shareholders only own the assets that are left after all debtors and creditors are paid in full and the preferred shareholders are satisfied to all amounts due to them (in many cases, that would not only be unpaid dividends, but also any liquidation preferences, which can often be very large - up to multiple dollars per share). "

[B402]

For a buyback to be legal

So, They would have be Audited
And
Would they have to pay their Tax liens?
Pay the enforcements against them?

Underdog: a company is forbidden by financial laws to effect a shares buy-back without audited financials showing assets that exceed the debt:

"For a buyback to be legal what they need to have is net assets after accounting for the Company's liabilities and any amounts due to preferred shareholders. The reason is that a stock buyback is considered to be a distribution to common shareholders, and by law, they are only allowed to distribute assets to common shareholders that are actually owned by common shareholders. And common shareholders only own the assets that are left after all debtors and creditors are paid in full and the preferred shareholders are satisfied to all amounts due to them (in many cases, that would not only be unpaid dividends, but also any liquidation preferences, which can often be very large - up to multiple dollars per share). "

[Goodbuddy4863]

Can You provide a Link please?

Because a share Buyback is include in the proxy Vote on January 19th, 2018.

http://www.ntek.com/shareholderletters/2018-01.SHM.Proxy.pdf

$$$$ NTEK $$$$