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Posted On: 10/11/2017 8:23:16 PM
Post# of 96892
A message from IR regarding trading issues some folks have been having and the dreaded OTCmarkets STOP sign that's we're currently dealing with.
IR has advised that they've been in contact with OTC and the problem should be resolved by early next week. Apparently NTEK did send fins to the OTC for posting BUT did not realize that their account had been canceled on July 3rd due to non payment of annual dues. It was only when the OTC rejected the fins did NTEK find out about their status. Evidently the credit card number the OTC had on file for NTEK was no longer valid as it apparently belonged to a former NTEK exec. Further, the email account associated with this former exec was also no loner any good. So by the time NTEK found out about it, the OTC would not allow them to just make a payment to get current but rather required they make a new application altogether.
So, in summary, look for the STOP sign to be gone by next week. NTEK says it should be early next week according to their conversations with the OTC. I guess at that point Fidelity and others will allow investors to resume trading in NTEK.
So, if all this bears out, we will also find out who exactly is managing our affairs at the moment, the current headquarters and maybe even the new NTEK board members to include the individual(s) from the 21 million dollar investment fund. Stay tuned as the wild ride that is NTEK continues.
I hope that answers questions that some of you out there may have.
Atlas1
IR has advised that they've been in contact with OTC and the problem should be resolved by early next week. Apparently NTEK did send fins to the OTC for posting BUT did not realize that their account had been canceled on July 3rd due to non payment of annual dues. It was only when the OTC rejected the fins did NTEK find out about their status. Evidently the credit card number the OTC had on file for NTEK was no longer valid as it apparently belonged to a former NTEK exec. Further, the email account associated with this former exec was also no loner any good. So by the time NTEK found out about it, the OTC would not allow them to just make a payment to get current but rather required they make a new application altogether.
So, in summary, look for the STOP sign to be gone by next week. NTEK says it should be early next week according to their conversations with the OTC. I guess at that point Fidelity and others will allow investors to resume trading in NTEK.
So, if all this bears out, we will also find out who exactly is managing our affairs at the moment, the current headquarters and maybe even the new NTEK board members to include the individual(s) from the 21 million dollar investment fund. Stay tuned as the wild ride that is NTEK continues.
I hope that answers questions that some of you out there may have.
Atlas1
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