Replies to post #73047 on Ngen Technologies Holdings Corp. (fka NGRP)

[Magnum7419]

How can I be a scam if products are actually sold on Amazon

[Magnum7419]

Do we agree Mr Rhee was CEO of CTX ?

CTX VIRTUAL TECHNOLOGIES, INC. ANNOUNCES CEO RESIGNATION
July 3, 2015 (OTC Pink: CTXV) - On June 22, 2015, Clifford M. Rhee tendered his resignation from all of his
positions with CTX Virtual Technologies, Inc. (“CTX” or the “Company”), which included his positions as
CEO, President and a director of the Company, effective immediately. Cliff cited serious health issues and his
need to pursue aggressive medical treatment for his condition as the reason for his inability to continue leading
the Company.

http://www.otcmarkets.com/ajax/showNewsReleaseDocumentById.pdf?id=15717

[Magnum7419]

How many scams receive a PP of 7 million dollars ?

CTX Virtual Technologies, Inc. Completes $7.4 Million Private Placement
Marketwire
Buckman, Buckman & Reid, Inc., Members FINRA and SIPC, Acted as Exclusive Placement Agent; Proceeds Will Expedite Product Order Fulfillment and New Product Developme"

https://money.cnn.com/news/newsfeeds/articles/marketwire/0650329.htm

[Magnum7419]

Here is a couple sub companies of CTX and when I checked amazon.com , guess what.....products are listed......



CTX Virtual Technologies Inc. operates as a technology company. It manufactures and distributes mobile telecommunication, virtual imaging, touch screen and tablet manufacturing along with mobile data input accessories. CTX has 2 operating subsidiaries: Celluon Technology Holdings Ltd and Kaibida International Limited. Celluon Technology Holdings Ltd is engaged in design and manufacturing of virtual 3-D electronic projection. Kaibida International Limited engages in the business of manufacturing PDA, Smartphone and other telecommunication devices. The Company has operations primarily in Ontario Canada, China, and Korea. CTX Virtual Technologies Inc. is based in Boca Raton, Florida.

"Celluon EPIC Ultra-Portable Full-Size Virtual Keyboard"

https://www.amazon.com/Celluon-Ultra-Portable-Full-Size-Virtual-Keyboard/dp/B00DCGV4Y0/ref=lp_6123982011_1_1?srs=6123982011&ie=UTF8&qid=1567010846&sr=8-1#customerReviews

[Magnum7419]

Even if it is a scam.....

its a hell of a good one for .0001 a share IMHO

"The Company's products include VK200 KEYFOB, MISEETX, VK300, iVK100, VM100, embedded laser keyboard and digital broadcasting iPhone case. The Company's VK200 KEYFOB projects a keyboard on flat surface and connects wirelessly through Bluetooth to iPhone, iPad, smartphones and laptops. Its VK200 KEYFOB has 78 keys. The Company's MISEETX is a fully integrated minicomputer. The Company's MISEETX is wireless fidelity (Wi-Fi) and Bluetooth enabled and capable of displaying images with images sizes up to 100 inches in wide screen format. The Company's VK300 connects directly to the user's iPhone through its multi-function interface port to project a keyboard on any at surface and has 63 keys. The Company's iVK100 connects directly to iPhone through its multi-function interface port to project a keyboard on any flat surface and has 63 keys. The Company's VM100 operates as a regular mouse when the users are in the office or on the road. The Company's iDT100 connects directly to iPhone through its multi-function interface port to receive digital broadcasting channels directly on the user's iPhone. The Company also develops a multi-touch technology platform to integrate in automotive and other commercial applications."


CTX Technologies VK200 Keyfob Virtual Laser Keyboard
byCTX Virtual Technologies

https://www.amazon.com/Technologies-VK200-Keyfob-Virtual-Keyboard/product-reviews/B00F0JD5CG

MISEETX

[Det_Robert_Thorne]

The 2015 CTXV lawsuit provides insight on Rhee

As I mentioned this past Sunday, Rhee's companies seem to be badly run, or scams. I also stated that I would post some of my DD as soon as Conway was out and Rhee and his team in charge of LIBE. And before someone points out that Ed Carter is the CEO now, not Rhee, I will note that Rhee is an equal shareholder and the CFO.

Here it is:

On March 4, 2015, one of Rhee's lenders to CTXV, EFT Holdings, Inc, filed a complaint alleging breach of covenant and fraud, among other things, against Cliff Rhee, CTX Virtual Technologies, and another company (lender?) and individual who prepared the documents. EFT provided at least $2.5M in the form of convertible debt to CTXV, and was claiming that the company was misrepresented to them as shown in the excerpts below, and wanted their $2.5M back, plus damages.

The lawsuit claims that, CTXV didn't own its factory, Rhee sold Celluon after geting the money, the big contracts weren't signed, that sales didn't pan out, and that Rhee and CTXV didn't get the stock listed (so that EFT could convert and dilute).

Rhee resigned as CEO in July, 2015, four months after this lawsuit was filed, and CTXV essentially died when he left.

Eventually, on Sept 6, 2017, in a default judgement, the judge awarded EFT $2.5M, plus costs, though no punative damages, because in the motion for a default finding, EFT hadn't provided enough info as to how it was damaged.

This judgement was three years ago, and a year before Rhee aquired GRAS in another RM attempt. Has Rhee repaid the money owed EFT, or is a lot of the money from the recent notes issued by GRAS intended for that purpose --- and is now LIBE's problem?

Here are the relevant excerpts from the complaint (downloaded from PACER) with annotations by me, followed by the final page of the default judgement. Note how similar the the situation was then, as it is now:







The default judgement: