NTEK / NTGL
NTEK owns the patent now. If Hightower is no longer with them they own his idea. Many, many people tried to warn him what was going to happen. He chose to insult them instead of listening.
.0028 a share. 4 million shares traded
today. What is that, a couple hundred
dollars worth?
Quote: SkepticNTEK announced a reverse-split last month that hasn't gone into effect yet. It will wipe out all current shareholders.
Splits and reverse splits have no effect on market cap and share value. A reverse split cannot by itself "wipe out all current shareholders".
http://1337friends.com/
Quote: EvenBobIf you look at the ihub site, one of the
posters says he spoke to someone in
a casino and they think these types
of machines are still years away from
going into casinos. For one thing,
the manufacturers want total control
of them, and the casinos will never allow
that.
I disagree with that sentiment. I expect to see skill based games in Nevada casinos by the end of the year. I do not expect to see the Nanotech games in casinos at all.
The reverse split by itself doesn't decimate the shareholder value..
For 3 or more days after the split the current shareholders don't have access to their shares to sell. The insiders and toxic debt financiers will have millions of new shares issued to them during this period and they will dump dump dump at whatever price they can get which is almost always drastically lower than the post split price. By the time the current shareholders get their new post split shares the price will be back to sub-penny.
A wipe out of current shareholders value by any other name.
This is stinky pinky land....not the NYSE.
Quote: DRichI disagree with that sentiment. I expect to see skill based games in Nevada casinos by the end of the year. I do not expect to see the Nanotech games in casinos at all.
I agree. They will be in Las Vegas casinos by the end of the year. Probably not too many. And the will most likely be regular slot machines with skill based bonuses.
Whoever said the manufactures want control over them is off base I think. The manufacturers make the games, the casinos offer them for play. They'll share the revenue most likely since I think casinos will be gun shy to purchase right away. Both sides need each other and there are rarely any disputes on who does what in the relationship.
ZCore13
Quote: AxelWolfAhigh
http://1337friends.com/
WtF?
Quote: GWAEWtF?
He started a charity to give T shirts to
homeless people. Send him money and
he'll buy the shirts. This was before his
personal 'problems' started, so who
knows what's going on with it now.
Please let me know when, what and where if you happen to get a heads up or find information.Quote: DRichI disagree with that sentiment. I expect to see skill based games in Nevada casinos by the end of the year. I do not expect to see the Nanotech games in casinos at all.
I would appreciate anyone who would do the same.
Thanks in advance.
Quote: AxelWolfPlease let me know when, what and where if you happen to get a heads up or find information.
I would appreciate anyone who would do the same.
Thanks in advance.
Don't get too excited. I don't think anyone will offer them over 100%.
I would set them between 85% and 94% depending on skill level. The average player is probably going to play at 88%.
And I understand that but @ some point it may start to lean towards the %100 direction. Eventually they will have to try new and different things. As you know we don't need 100% machines to take advantage of the casinos. A 94% slot could be sufficient. I hope eventually they will add banking and progressive skilled bonus rounds.Quote: DRichDon't get too excited. I don't think anyone will offer them over 100%.
I would set them between 85% and 94% depending on skill level. The average player is probably going to play at 88%.
Anytime the general publicly thinks they actually have a chance to overcame the HA is a good thing. Many people already think they can overcame the HA, confirm this and who knows what could happen.
I seriously think Ahigh's concepts were genius. Especially how they mixed both luck and skill on the pinball
I didn't like how they made Advantage play the main focus.
You are mistaken. Don't confuse the OTC with a real exchange like the NYSE or NASDAQ. A reverse split on the OTC is done so new shares can be issued at higher prices and when they are sold the price collapses. It happens every time. The amount of authorized stock the company can issue is never reduced proportionally, so it has the net effect of a massive increase to the AS.
Speculation is that NTEK is going to do a 1000 for 1 reverse split. That means someone with 1 million shares would only have 1,000 shares after the split. If the pre-split price is .003 then it would open the next day at $3.00 and collapse almost immediately, eventually trending right back down to where it was pre-split. Hundreds of millions of fresh new shares will be issued immediately and begin hitting the retail market. To make things worse, pre-split holders will have their stock locked up for a couple/few weeks so only insiders with fresh new certs on deposit are able to sell.
Don't take my word for it. Just watch. I've been following these things for over a decade and this is probably the 100th reverse-split I've seen. The only purpose for a reverse split on the OTC is to wipe out current shareholders and start over again with more stock to issue.
Again, do not confuse OTC garbage stocks with a legitimate exchange.
page now lists NTGL as a "previous" employer. His
departure is being discussed on some of the chat
boards. Looks like NTGL is doing a housecleaning.
Or something.. (he was here last fall defending
the products)
Quote: WizardWhy wouldn't any "pink" stock want to do a reverse split to get into a more legitimate exchange like the Nasdaq?
Minimum share price is the least of the requirements to get listed on Nasdaq.
Audited financials and be in good standing with SEC reporting requirements would me on top of the list.
NTEK and NTGL have neither covered.
Market capitalization (share price x shares) and annual earnings are often a factor.
Http://https://www.sec.gov/answers/listing.htm
Nasdaq initial listing requirements are in a document You can get at from the FAQ section of this website: https://listingcenter.nasdaq.com/Material_Search.aspx?cid=34&mcd=LQ
One common thing a company will do to get their price up is a stock buyback. The buying on the market raises the price, and the remaining shares are then worth more as a percentage of ownership, which also makes them more valuable and increases the trading value. A company has to have the cash to do it, though, and has to be careful not to put themselves in a bad financial position, namely being short on cash since you just spent a bunch of it buying back your own shares.
ZCore13
Quote: DRichHas anyone tried calling the NTGL office? My assumption would be that they closed this office down for lack of funds.
Or for fumigation. You would need a professional smoke cleaner to come in before it could be rented.
Quote: WizardWhy wouldn't any "pink" stock want to do a reverse split to get into a more legitimate exchange like the Nasdaq?
NTEK is a Form 15 filer (dark company, a.k.a. non-reporting pinksheet stock)). That means they suspended their reporting obligations to the SEC a long time ago. In order to qualify for a higher exchange they would need to file a Form 10 to become reporting again, catch up on all the filings they missed (costing hundreds of thousands of dollars) and submit several years of legit independent audited financials. They cannot do that without admitting to a ton of fraud (the Foley's have been funneling hundreds of millions of shares - possibly over a billion - to a front company that they control and then selling them to retail).
Then there's the minimum price requirement that they won't meet even after the reverse-split. They are broke and seriously in debt. The purpose of the reverse-split is so they can sell more stock which will drive the price right back down. They are being sued now on multiple fronts for not paying bills.
Taking what you say at face value, I'm disappointed that AHigh got caught up in this. From my conversations with him, he was not keen on the corporate/capital raising part of his job, and found it frustrating. This is unfortunate, because he is an extremely talented programmer/engineer, regardless of what you may think of his personality. Just take a look at some of his products. He was no slouch on the Rush 2049 arcade game, which is still in many arcades in Vegas (coin-op racing game). He showed me some other products he had in the works that would absolutely blow your mind, as well.Quote: SkepticNTEK is a Form 15 filer (dark company, a.k.a. non-reporting pinksheet stock)). That means they suspended their reporting obligations to the SEC a long time ago. In order to qualify for a higher exchange they would need to file a Form 10 to become reporting again, catch up on all the filings they missed (costing hundreds of thousands of dollars) and submit several years of legit independent audited financials. They cannot do that without admitting to a ton of fraud (the Foley's have been funneling hundreds of millions of shares - possibly over a billion - to a front company that they control and then selling them to retail).
Then there's the minimum price requirement that they won't meet even after the reverse-split. They are broke and seriously in debt. The purpose of the reverse-split is so they can sell more stock which will drive the price right back down. They are being sued now on multiple fronts for not paying bills.
Quote: teddysTaking what you say at face value, I'm disappointed that AHigh got caught up in this. From my conversations with him, he was not keen on the corporate/capital raising part of his job, and found it frustrating. This is unfortunate, because he is an extremely talented programmer/engineer, regardless of what you may think of his personality. Just take a look at some of his products. He was no slouch on the Rush 2049 arcade game, which is still in many arcades in Vegas (coin-op racing game). He showed me some other products he had in the works that would absolutely blow your mind, as well.
Many people warned him about what he got into and what he was proposing to do. He wouldn't listen.
He's a programmer. That's what he does well. He's not a President or Vice President or Public Relations or Upper Management guy. He was in way over his head and needed help that he either wasn't allowed to get or thought he didn't need.
ZCore13
Quote: Dalex64I sense a lack of objectivity.
I don't. The facts are what they are. There are thousands of companies like this operating and being sold by boiler rooms (Yea, they still exist) everyday. The only difference is many of us knew people involved in this company. But anyone who looked at it objectively could see the warming signs miles away with the history of the CEO. While there may have been some people with a vision (dreamers) involved, those at the top knew exactly what they were doing.
Quote: Zcore13Many people warned him about what he got into and what he was proposing to do. He wouldn't listen.
He's a programmer. That's what he does well. He's not a President or Vice President or Public Relations or Upper Management guy. He was in way over his head and needed help that he either wasn't allowed to get or thought he didn't need.
ZCore13
I believe you and others in the industry gave him far more advise then he might have deserved and were ridiculed for it at every turn by Ahigh. It would be easy for everyone to gloat about it, but somehow I don't think he was a bad guy, just very stubborn.
today, letting everybody know how he feels
on a stock forum.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=121081666
Quote: EvenBobThis is one of NGTL's disgruntled investors
today, letting everybody know how he feels
on a stock forum.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=121081666
Now That's personal!!
Obviously someone we know well from this forum who reads reads them forums and lots of others.Quote: BozNow That's personal!!
Quote: BozNow That's personal!!
The dice at the end with 'You Lose' was
a cruel touch.
Quote: EvenBobThe dice at the end with 'You Lose' was
a cruel touch.
Yes, and in a cruel touch of irony they didn't stay on axis.
Quote: BozI believe you and others in the industry gave him far more advise then he might have deserved and were ridiculed for it at every turn by Ahigh. It would be easy for everyone to gloat about it, but somehow I don't think he was a bad guy, just very stubborn.
I take no joy in gloating. I gave him a lot of advice. With salaries and expenses they must have ran through over a half a million dollars. That could have been enough to present a viable skill based game to the market. There is a VERY thin line between success and failure. They had a really good chance at the beginning and took a misguided approach.
ZCore13
Quote: Zcore13I take no joy in gloating. I gave him a lot of advice. With salaries and expenses they must have ran through over a half a million dollars. That could have been enough to present a viable skill based game to the market. There is a VERY thin line between success and failure. They had a really good chance at the beginning and took a misguided approach.
ZCore13
Closer to $1 million.
The last quarterly income statement showed expenses of $150,000.
He was hired by NTEK in November 2013. Approx 27 months ago.
Say 20 months were at full staffing and expenses gets $1 million plus assuming they actually paid all their bills.
Quote: wellwellwellCloser to $1 million.
The last quarterly income statement showed expenses of $150,000.
He was hired by NTEK in November 2013. Approx 27 months ago.
Say 20 months were at full staffing and expenses gets $1 million plus assuming they actually paid all their bills.
That's probably more accurate. I wasn't even accounting for G2E, Cutting Edge Table Games show, paid articles and advertising, food and wntertainment and more.
ZCore13
Quote: DRichHas anyone tried calling the NTGL office? My assumption would be that they closed this office down for lack of funds.
Go for it.
7180 Dean Martin Drive, Las Vegas, NV 89118
(702)577-2895
Didn't you click that link? It shows a fat lady singing.Quote: WizardAs much as I'm cheering for Ahigh and everyone here who holds stock, how do we know when the fat lady has sung?
Quote: AxelWolfDidn't you click that link? It shows a fat lady singing.
Maybe she is just clearing her throat.
Quote: AxelWolfI'm curious what will happen to Ahigh's game's and technology. I would hate to see this just stuff go to wast. I seriously believe people would play it.
For free, sure. For real money, not
so much. The payout is too complicated,
people will get bored and wander away.
ZCore13
Quote: Zcore13I said 2 years ago i'd pay $1,500 or more for the pinball game if it played classic pinball titles. You sell the machine with one title on it and then charge extra for additional titles. Maybe even a monthly subscription to create re-occurring revenue.
ZCore13
I would hope that if the company went TU, Ahigh could have "bought" the intellectual property he had been working on. Or perhaps it was written in to his contract that he would maintain ownership of that property in the event the company went out of business.
If I were working on something like this for a start up with a high probability of failure I would try to get that kind of verbiage in my contract, but I have no idea if it is standard or not.
Quote: AcesAndEightsI would hope that if the company went TU, Ahigh could have "bought" the intellectual property he had been working on.
NTEK, the parent company, owns the patent. Shareholders paid for that asset so if the company just "gave" it away the shareholders would have cause to sue.
What am I missing?
ZCore13
