as of the last version of complaint i saw thomas is asking NNLX to recreate financials back to 2014?
if NNLX could not afford to present financials in otc format back then they certainly cannot afford to hire a specialized forensic accountant to recreate them now
he wants a shareholders meeting so he can take control of NNLX at such meeting
he bought stock after the damage was already done so perhaps in the range of .001 to .00001 - you can accumulate a lot of stock at that price very cheaply
you dont have to have a majority of the stock to win shareholder meetings.
if nobody else has a larger block of stock you can win on as low as perhaps 1/3 of the stock
does Bret have a poison pill- a construction to keep a hold of the company in case of a hostile take over- I dont remember our previous discussion on that
he listed probably anywhere from 70 - 99 items.
he wants the court case if he can get standing in New Jersey where he reportedly lives.
a lot of companies choose to register in corporate friendly states for various reasons
Such registration usually has very limited value in determining jurisdiction.
Jurisdiction usually is where the corporation is actually physically located-which was Hubbard Ohio
In violation of the general rules of jurisdiction he wants case in NJ
He is not the first to argue that fax machines etc make it unnecessary to follow general rules. In all cases I've been aware of the judge has denied such arguments.
He wants a direct action instead of a stockholder class action bc a direct action doesn't just put him at the head of the class it puts him above the class - he wants to become as noted the new chairman w apparent ownership of 60% of the stock -a greater % than ceo Bret
he wants the patents to be decisively ruled as property of NNLX which he is trying to take over
in 2004 there was a lawsuit between the previous company - before Bret et al -part of the problem there was the valuation of the patents
its hard to value patents beyond a cost basis
if thomas has some kind of private agreement w some medical company to use one or more of the many patents that would increase the value of said patents
thomas hasnt revealed any such for he wants to get NNLX as cheaply as possible
thomas wants standing. he has admitted to buying the stock after all the damage from NNLX's violations occurred
so he wants to be made whole for things he knew going in-and not just that- he wants to be elected Ceo and chairman etc w 60% of the stock
and that is just what can be determined at the present time
is this a one time thing? hedge funds patrol low pennies to short them into oblivion,violating normal rules of shorting
real estate investors take advantage of homeowners financial troubles offering generally anywhere from 10 to 70 cents on the dollar
since covid those who deal regularly w scams say scams have multiplied astronomically
many here will now say NNLX was a scam. It wasnt - there are a lot of easier ways to scam than painfully nurse such a company reportedly without salary or compensation from stock. Most if not all officers and directors reportedly having other paying jobs except for maybe ceo bret.
just presenting facts- so keep your eyes open, though its apparent some are not
Over 90% of low penny startups fail. Many such low penny startups violate different forms of fiduciary duty. That does NOT make it right but how can so many usually blame the company as if the company was personally out to get them
the biggest violation was not getting back to us after the big PR re 3 major things Brets superlawyer brother (apparently has 2 other lawyer brothers bart and daniel) and NNLX were going to do to get current with otc etc
Does somebody have easy access to that PR who can post it so we can be reminded?
You know when thomas actually files the complaint NNLX will probably have 20 days to put in an appearance.
the judge's first decison is probably, does thomas have standing as part a direct - not class action shareholder- suit.
or actually could first deny the attempt to give new jersey jurisdiction
in which case thomas would probably file in ohio- where the normal obvious jurisdiction would be
those are the first points NNLX would argue in their response
only after standing and venue are determined would any discovery-interrogatories and depositions- begin-which can take a long time.
that situation makes it harder for thomas to get standing whereas a class action stockholder suit would have much easier time achieving standing for many many stockholders have had material losses
if NNLX could not afford to present financials in otc format back then they certainly cannot afford to hire a specialized forensic accountant to recreate them now
he wants a shareholders meeting so he can take control of NNLX at such meeting
he bought stock after the damage was already done so perhaps in the range of .001 to .00001 - you can accumulate a lot of stock at that price very cheaply
you dont have to have a majority of the stock to win shareholder meetings.
if nobody else has a larger block of stock you can win on as low as perhaps 1/3 of the stock
does Bret have a poison pill- a construction to keep a hold of the company in case of a hostile take over- I dont remember our previous discussion on that
he listed probably anywhere from 70 - 99 items.
he wants the court case if he can get standing in New Jersey where he reportedly lives.
a lot of companies choose to register in corporate friendly states for various reasons
Such registration usually has very limited value in determining jurisdiction.
Jurisdiction usually is where the corporation is actually physically located-which was Hubbard Ohio
In violation of the general rules of jurisdiction he wants case in NJ
He is not the first to argue that fax machines etc make it unnecessary to follow general rules. In all cases I've been aware of the judge has denied such arguments.
He wants a direct action instead of a stockholder class action bc a direct action doesn't just put him at the head of the class it puts him above the class - he wants to become as noted the new chairman w apparent ownership of 60% of the stock -a greater % than ceo Bret
he wants the patents to be decisively ruled as property of NNLX which he is trying to take over
in 2004 there was a lawsuit between the previous company - before Bret et al -part of the problem there was the valuation of the patents
its hard to value patents beyond a cost basis
if thomas has some kind of private agreement w some medical company to use one or more of the many patents that would increase the value of said patents
thomas hasnt revealed any such for he wants to get NNLX as cheaply as possible
thomas wants standing. he has admitted to buying the stock after all the damage from NNLX's violations occurred
so he wants to be made whole for things he knew going in-and not just that- he wants to be elected Ceo and chairman etc w 60% of the stock
and that is just what can be determined at the present time
is this a one time thing? hedge funds patrol low pennies to short them into oblivion,violating normal rules of shorting
real estate investors take advantage of homeowners financial troubles offering generally anywhere from 10 to 70 cents on the dollar
since covid those who deal regularly w scams say scams have multiplied astronomically
many here will now say NNLX was a scam. It wasnt - there are a lot of easier ways to scam than painfully nurse such a company reportedly without salary or compensation from stock. Most if not all officers and directors reportedly having other paying jobs except for maybe ceo bret.
just presenting facts- so keep your eyes open, though its apparent some are not
Over 90% of low penny startups fail. Many such low penny startups violate different forms of fiduciary duty. That does NOT make it right but how can so many usually blame the company as if the company was personally out to get them
the biggest violation was not getting back to us after the big PR re 3 major things Brets superlawyer brother (apparently has 2 other lawyer brothers bart and daniel) and NNLX were going to do to get current with otc etc
Does somebody have easy access to that PR who can post it so we can be reminded?
You know when thomas actually files the complaint NNLX will probably have 20 days to put in an appearance.
the judge's first decison is probably, does thomas have standing as part a direct - not class action shareholder- suit.
or actually could first deny the attempt to give new jersey jurisdiction
in which case thomas would probably file in ohio- where the normal obvious jurisdiction would be
those are the first points NNLX would argue in their response
only after standing and venue are determined would any discovery-interrogatories and depositions- begin-which can take a long time.
that situation makes it harder for thomas to get standing whereas a class action stockholder suit would have much easier time achieving standing for many many stockholders have had material losses
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