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Replies to post #174414 on NanoTech Entertainment Inc (NTEK)
Shortly after the San Francisco Chronicle published the story concerning Foley's indictment, Robert DeKett, Foley's former partner in charge of business development and licensing at Ultracade came forward and issued a statement regarding the charges against Foley to website Arcade Heroes:
"While I cannot comment on any specifics on the case, I can tell you I was the VP of Business Development at UltraCade, and then at Global VR, and was involved in deals licensing the IP in question. I don’t believe that David has done anything wrong, and I believe he will be vindicated by a full acquittal. I can also tell you that he still owns UltraCade Technologies, and that Global VR defaulted on the purchase of certain assets of UltraCade Technologies, never completing the payments that were due. None of the UltraCade creditors that were to benefit from the deal have received a dime. David and Global VR have been fighting this in a civil lawsuit that was started in 2006. I would caution people to wait until this is settled and know the entire story before rendering a judgment or opinion about the situation. Remember, in America you are innocent until proven guilty. David has to do nothing to prove his innocence, it’s up to the DA to prove the claims."
DeKett is currently the CEO and co-founder of Nanotech Entertainment, where Foley currently serves as chief technology officer and co-founder, according to the company website.
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