so you dont want people to invest in the company? why havent you sold then? the company said it needed to dilute to meet financial obligations so why are you surprised that it went down?
In short: I wouldn't advice investing in NTEK right now - Selling now would make me lose 85% of my investment. Might as well lose what little remains, or hope for a surprise recovery - the company said
We believe that the last raise was sufficient to cover our short-term goals and do not have plans for another raise.
Two months later they did it anyway, a third time in seven months, and by doing so adding more than a billion shares to the AS. Two months is long-term then ?
That's called a bad (no) business plan.
Let me put it this way: if I had known two years ago what I know now, I wouldn't have put my money on this horse. Now it's too late.
NTEK has become a different co. since then. I'm all with Shub on that.
I based my investment DD on what I knew then and yes, what I read on IHub and later IHO. Since then, and you can't honestly deny this, they have proven to lie to investors.
Suffice to mention the three AS increases which went through just weeks after denying any such AS would be required. Pure lies.
And they keep on lying and making fishy moves, aka Royal Capital. The fact that K2 Comms has launched a lawsuit against NTEK, Aaron Taylor and 10 others shows that they apparently even lied to their content providers. You know that the K2 Comms deal was announced over a year ago ? Let's hope that NTEK met their financial obligations with the other companies that they made an agreement with after K2, which is almost all the other content. Or we may lose what is left.
If people want to invest in this company, that's their call. Taking a position now might be a good opportunity, who knows, seems that we have reached the bottom if we are saved from further dilution. But you can't count on that as we all know. Right now I wouldn't advice on buying NTEK shares, or maybe just some gamble money.
If they manage to have sufficient rentals to get a decent revenue, which they clearly have not, maybe (and that's what I hope so I can get out without losing too much), we will get back over a penny. Who knows, maybe back over 5 cents. I still believe NTEK has potential, if management would get their act together and tells what is going on, in stead of keeping quiet, or telling tales.
I am not at all surprised that it went down, I was surprised that the SP more or less stayed where it was after the last "no longer necessary" AS increase.
The fact that this was again necessary proves that management sucks at predicting how business will be, even two weeks ahead.
That might answer your questions.
Now please answer my questions.
Have you not a problem that more than half a billion NTEK shares, booked as "restricted common stock containing the restrictive legends as part of a conversion of a convertible debenture"
went to an "unrelated and non-affiliated investor"
that everybody knows was set up by management (more than probably David Foley), but after many people have demanded clarification about this move, the Co. remains silent about this ?
OK if they need to raise capital to meet financial obligations, but why this fishy construction. The shares went directly into the float, and caused the SP to tank. So they could as well have been put on the market as such, not by way of a suspicious construction. Who gained what by doing this ?
Not the outside shareholders.
Aren't you bothered that millions of more shares have gone to "an employee" that is in prison, and will remain there for quiet some time ?
Where are the other announced titles from other content providers ?
Why is there no EDM follow up on UF, which was claimed to be so promising ?
Are you OK with the fact that NTGL, a company with 0 revenue (2nd Q report, 3Q report is no longer available...), announced an audit would be finished in mid September, and that two months later, there still is no audit ?
What about the "free" NTGL shares that after seven months still haven't materialized. Why the delay, without any comm from the co. ?
You have no questions what these companies do with YOUR money ?
It baffles me that some ponies keep on putting their money into NTEK, believing they will become billionaires.