Posted On: 04/28/2016 7:20:59 PM
Post# of 96891
Here is a copy of the email I sent to Mr. Foley on April 20th. I would much prefer to see the authorized increased rather than a reverse split.
Go NTEK!!!
Mr. Foley: I am an investor in both NTEK and NTGL and I understand start up situations choose to be public companies in order to raise capital so dilution is to be expected. On the other hand I have been fighting abusive naked shorting for over 17 years now and realize that targeted companies of the short sellers often do not survive.
A reverse split is the shortsellers best friend as they are now able to attack again with a vengence with an obvious goal of either cellar boxing the company or driving it to bankruptcy. I think a spinoff of Ultraflix is much more likely to lead to success and I encourage you to investigate all alternatives rather than taking the easy way out by reverse splitting the stock.
I ask you to look at SIRI and what they went through and where they are today having avoided a reverse split. They have a much larger issued number of shares than NTEK.
Again I want nothing but the best for the company but do not think a reverse split does anything for the company or shareholders in the long run.
Best
Alan S. Cameron
Go NTEK!!!
Mr. Foley: I am an investor in both NTEK and NTGL and I understand start up situations choose to be public companies in order to raise capital so dilution is to be expected. On the other hand I have been fighting abusive naked shorting for over 17 years now and realize that targeted companies of the short sellers often do not survive.
A reverse split is the shortsellers best friend as they are now able to attack again with a vengence with an obvious goal of either cellar boxing the company or driving it to bankruptcy. I think a spinoff of Ultraflix is much more likely to lead to success and I encourage you to investigate all alternatives rather than taking the easy way out by reverse splitting the stock.
I ask you to look at SIRI and what they went through and where they are today having avoided a reverse split. They have a much larger issued number of shares than NTEK.
Again I want nothing but the best for the company but do not think a reverse split does anything for the company or shareholders in the long run.
Best
Alan S. Cameron
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