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Itronics Inc. Message Board

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  • billdesouza billdesouza Apr 3, 2012 6:29 PM Flag

    Proxy and Fed

    Hey Chiron, I spoke to a confidante, she took a look at the Settlement. It is pretty straight forward. NIR is the one who was defrauding their investors promsing quick gains and liquidations if they needed it to be, and those they gave venture capital money too...the payout is set, and no matter if and when the shares increase and profits ITRO makes, they payout will be the same. It also does not allow NIR to do harm and try to break the company.

    It is a sttled case, precedent is done. NIR is the one who has to worry, they are lucky they did not get jail time.

    ITRO is free to grow and it will, Science and expertise is on the company side.

    Positive for sure. Hear some announcements are forth coming, (:

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    • amber_lutz Apr 3, 2012 8:33 PM Flag

      Hey Bill! Your thoughts on why the settlement pay out is not being paid out right now. What do you think the reason for that is. It is obvious when you look at the o.s. 4.2 mil shares, and there been no dumping sense the settlement that shares are not being paid. They have no cash, so thats not happening either. What are your thoughts.

      • 2 Replies to amber_lutz
      • amber, ltns g/f! I missed ya. You're just about the only objective thinking person left. Your questions again are right on the mark. Don't expect a response from Bill the Genius though because he doesn't know jack.
        I agree with you 100%. The O/S doesn't justify a share payout and the company claims to have no cash....sooooo how is the settlement being paid?? That's one of the $64,000 questions that nobody has an answer to.

        Hey, what do ya think about the Auric shrinkage? Do you think Johnnie cut some off the books shady deals with Honey Badger/Entree in the spring of 2010 and then again with Quaterra Alaska in the summer of 2011 as the BLM and county records suggest or do you think that's all B.S.?
        It's getting pretty comical on the QMM board, btw. You should check it out for a good laugh.
        Don't be such a stranger.

      • It would not benefit NIR to dump shares at any cost, they may be owed the money by ITRO, but the money NIR recoups has to be disbursed to the investors he scammed. It is better for both parties if the stock price was higher, the money would be paid back and settled quicker. The outcome was 8+million dollars to be paid back, that was public. So from a business standpoint it makes no sense to have the shares crash or prolong and sell low.

        The settlement is secret yes that is true, but it was settled in both ITRO and NIR's benefit. NIR gets the money, and ITRO gets a set process and payout schedule and no more interst charges.

        The payments are not going to be broadcasted to the world or to feddly, he has no business in a answer. If there was inpropriety in the deal from one end of the other PWC would know and let the government know.
        Ribotsky is still running NIR and his affiliates out of Caymen Islands, he is also in charge of the process, even though PWC is the auditor/overseer. Yes he got busted by the SEC, but he got no jail time, he only got fines and made to pay back monies, Dworkin got the jail time.

        You can also read the entire transcript of the deposition, 160 pages of how Itronics was played by NIR. It is public on scribd.

        The deposition is seperate issue from the SEC lawsuit, and FBI investigation of NIR.

        If there was anything with the mining it would be under mining services as far as income in or out. BLM is not the end all tell all, Isn't the land private property and not federal land? That is what it sounds like under the press releases.

    • Agreed, this is why I don't buy Feds story about how he can't report good news.

      If he reports good news, NIR can only sell a certain lot at a time. Say the PPS does tank for a while.. NIR still loses most, and we can begin accumulating more. Volume would increase.

      Eventually NIR will be out of shares and ITRO share value will skyrocket. It may take a while but it has to unwind at some point.

      • 1 Reply to chrion777
      • "If he reports good news, NIR can only sell a certain lot at a time. Say the PPS does tank for a while.. NIR still loses most, and we can begin accumulating more. Volume would increase."

        Nobody knows how many Ribotsky can sell at a time. Where are you coming up with that, chri?
        If Johnnie were to report great silver ouput doubled...then the pps would pop and CR would make money on his shares. That's my whole point. JW doesn't want that to happen. He wants CR's shares to be worthless. I can understand his logic and I'm not saying CR doesn't deserve it but ITRO is a PUBLIC company and what he's doing is also hurting the shareholders. And it's illegal.

        "Eventually NIR will be out of shares and ITRO share value will skyrocket. It may take a while but it has to unwind at some point."

        A while meaning many, many more YEARS. I agree. So what do we do in the meantime? Sit and drool while Johnnie understates revenues? Then who's to say he will ever start reporting the real numbers? Why bother? He can make more understating and selling silver off the books or just stockpiling it or whatever he's doing with it. It's a waiting game but Johnnie has complete control of everything.
        We are nothing more than collatoral damages in his revenge on Ribotsky. That's clear as day.

    • billdegenius, the settlement terms were never made public. Why do you lie so much? Do you have JWS (John Whitney Syndrome)?

      And if you've been following the NIR story you would know that Ribotsky has already been charged with criminal misconduct. That is why PwC was brought in to liquidate assets. All of his fund holders are getting shafted because all the companies that NIR gave money to aren't worth chit, and yes, that's including ITRO. Enormous potential but run right into the ground by a greedy, arrogant, clueless, compulsive lying sociopath aka Dr. John Whitney. The ship is sinking yet he's sailing off into the sunset on the only life raft...with everyone's money.

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