cpd, Lets consider that for a moment. NTEK ha
Post# of 96879
Posted On: 10/25/2015 12:42:58 AM
cpd,
Lets consider that for a moment. NTEK has already said they intend to divest themselves of Clear Memories and Magic Screen. With Gaming Labs already gone and CM and MS on their way out that leaves Media, Communications and 4K Studios.
If they spin Media (UltraFlix) what's the benefit? You said its possibly a faster route to up listing. I think that's a distinct possibility and may be the best option, here's why. Let me preface this by making it clear this is 100% pure speculation but at least to me it's seems plausible.
NTEK has made repeated promises that audits were a priority and that they were coming "soon" (I've learned to hate that word...anyway, where was I?). We've even heard that the audit process of some of the units have been completed, yet years later we have yet to see a completed audit. In addition we've had to change accounting firms more than once.
Suppose sometime in the past (years ago) there were some accounting irregularities that could not or can not be reconciled? Would a spin off relieve the spun division of any issues the parent company may still have or had? Lets use NTGL as an example. Their auditing consists of just their stuff, their assets, etc. They are no longer inextricably linked to NTEK except that NTEK has a financial stake in NTGL. Was NTGL the first to leave the nest, as sort of a test case? Is UltraFlix next and will the parent company (NTEK) become nothing more than an unaudited shell of a company when this is all said and done, a bag holder of nothingness if you will? Who knows but I can see spinning UF into it's own entity if it gets us out of the pinks and onto more solid trading ground with zero liability. But as I mentioned earlier, I'd be against anything that would require any type of lube.
Well there you have it cpd7863 my long answer to your short question is, Yes, I think it can be done.
Atlas1
NTEK...GET SUMMM!!!
Lets consider that for a moment. NTEK has already said they intend to divest themselves of Clear Memories and Magic Screen. With Gaming Labs already gone and CM and MS on their way out that leaves Media, Communications and 4K Studios.
If they spin Media (UltraFlix) what's the benefit? You said its possibly a faster route to up listing. I think that's a distinct possibility and may be the best option, here's why. Let me preface this by making it clear this is 100% pure speculation but at least to me it's seems plausible.
NTEK has made repeated promises that audits were a priority and that they were coming "soon" (I've learned to hate that word...anyway, where was I?). We've even heard that the audit process of some of the units have been completed, yet years later we have yet to see a completed audit. In addition we've had to change accounting firms more than once.
Suppose sometime in the past (years ago) there were some accounting irregularities that could not or can not be reconciled? Would a spin off relieve the spun division of any issues the parent company may still have or had? Lets use NTGL as an example. Their auditing consists of just their stuff, their assets, etc. They are no longer inextricably linked to NTEK except that NTEK has a financial stake in NTGL. Was NTGL the first to leave the nest, as sort of a test case? Is UltraFlix next and will the parent company (NTEK) become nothing more than an unaudited shell of a company when this is all said and done, a bag holder of nothingness if you will? Who knows but I can see spinning UF into it's own entity if it gets us out of the pinks and onto more solid trading ground with zero liability. But as I mentioned earlier, I'd be against anything that would require any type of lube.
Well there you have it cpd7863 my long answer to your short question is, Yes, I think it can be done.
Atlas1
NTEK...GET SUMMM!!!
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