I sent this letter to Jeff Foley 8:00 am EDT 5/216 and Jeff responded within hours with another SH update. Lets give NTEK ENORMOUS CREDIT for listening to shareholders. I certainly am as every time I write to Jeff he sends us an update within no more than a few days!!
Jeff,
NTEK shareholders were quite upset after learning of the surprise and unannounced A/S raise last week. The successive A/S raises over the last 12-18 months coupled with the looming R/S and open-ended ratio is more than enough to scare away new investors while causing long term shareholders to seriously question if there investment is sound.
I am not sure why you can't just divulge more specifics to shareholders questions. The following questions shareholders deserve answers to are:
(1) Upcoming R/S ratio
(2) Additional specifics on the 80% debt reduction (what is this in dollars)
(3) Is the proxy announced last October now canceled?
(4) Current sub numbers
(5) Audits on NTEK
(6) Audit completion on NTGL was imminent middle of last year. what happened?
(7) New CEO and CFO
(
MOST IMPORTANT QUESTION- DO WE HAVE NEW FUNDING PARTNERS & WHAT ARE THE TERMS? Can you at least provide numbers on the $$ funding. ( these $$ details are provided on "Shark Tank" and there are not even shareholders involved.
Jeff, we all know you and NTEK employees are working their tails off but shareholders who have stood by the company through thick and thin deserve real answers and more specifics then have previously been disclosed.
Thank you.
Jeff,
NTEK shareholders were quite upset after learning of the surprise and unannounced A/S raise last week. The successive A/S raises over the last 12-18 months coupled with the looming R/S and open-ended ratio is more than enough to scare away new investors while causing long term shareholders to seriously question if there investment is sound.
I am not sure why you can't just divulge more specifics to shareholders questions. The following questions shareholders deserve answers to are:
(1) Upcoming R/S ratio
(2) Additional specifics on the 80% debt reduction (what is this in dollars)
(3) Is the proxy announced last October now canceled?
(4) Current sub numbers
(5) Audits on NTEK
(6) Audit completion on NTGL was imminent middle of last year. what happened?
(7) New CEO and CFO
(
MOST IMPORTANT QUESTION- DO WE HAVE NEW FUNDING PARTNERS & WHAT ARE THE TERMS? Can you at least provide numbers on the $$ funding. ( these $$ details are provided on "Shark Tank" and there are not even shareholders involved. Jeff, we all know you and NTEK employees are working their tails off but shareholders who have stood by the company through thick and thin deserve real answers and more specifics then have previously been disclosed.
Thank you.
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