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Posted On: 02/08/2017 10:08:51 AM
Post# of 96869
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Ntek has no choice but to hold on to ntgl until both can stand alone without the other. The plan back in Feb, 2015 was have Al Stone head up the new spin off company with his connections to the gaming industry. However things that were supposed to happen didn't happen possibly due to product acceptance in its current developed form. Arron Hightower had to excuse himself for personal reasons and therefore there was only the secretary left and so operations were consolidated from Las Vegas into San Jose home office. Last summer two undisclosed individuals were hired to update the designs. In mean time Ntek had the benefit of the investment credit on their financial statements to prevent showing huge losses which would effect their pps even further at a critical time in their effort to be financially secure. Until each can stand alone without the other it is what it is. I bet the way it turned out management wishes they weren't pre-mature in announcing the spin off. It's been disappointing to not get the promised shares but it would result in a negative effect for both ntek and ntgl until they can resolve some internal issues. I'm find to trust management decision not to distribute shares until then.
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