Well, it is extremely ironic that Jeff Foley is blaming 'past management' for the predicaments they have faced...considering Jeff Foley is 'past management'. He was chairman of the board and actually appointed Pete Riordan to CEO (who diluted us to death), and when they used him as a scapegoat for dilution they had already planned for (Riordan was always a short-term scapegoat to be used for dilution NTEK desperately needed), Jeff still had another opportunity to right the ship as CEO after Riordan. But at this point, NTEK was clueless without David Foley, which, in hindsight, seems rather pathetic.
Also, I was told by IR there would be absolutely no dilution. Well it appears that is true and that is false, in which case, to the overtly moral NTEK crew, meant that they weren't lying. For convertible debentures do not have to become shares, which I guess means it is not necessarily dilution...but possibly dilution. Only time will tell.
And to reiterate what Jazz stated, I sure hope that NTEK has a plan because that is A LOT of potential shares ($21,000,000) that could hit the market.
On a side note, I was told by IR that the institutional investor, combined with two other investors, would total 'well over 20 million dollars'. We now know that number is 21 million dollars. However, following NTEK semantics and buffoonery, 1 million dollars more is apparently applicable enough for the clause 'well over 20 million dollars' to be used from IR. This is, of course, without any modicum of deception as we have been privy to over the countless, fruitful years.
Also, I was told by IR there would be absolutely no dilution. Well it appears that is true and that is false, in which case, to the overtly moral NTEK crew, meant that they weren't lying. For convertible debentures do not have to become shares, which I guess means it is not necessarily dilution...but possibly dilution. Only time will tell.
And to reiterate what Jazz stated, I sure hope that NTEK has a plan because that is A LOT of potential shares ($21,000,000) that could hit the market.
On a side note, I was told by IR that the institutional investor, combined with two other investors, would total 'well over 20 million dollars'. We now know that number is 21 million dollars. However, following NTEK semantics and buffoonery, 1 million dollars more is apparently applicable enough for the clause 'well over 20 million dollars' to be used from IR. This is, of course, without any modicum of deception as we have been privy to over the countless, fruitful years.
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