They don't create or do anything that makes money. No where in their history have they been profitable or made money. They lost some $42 million in 2013...when they merged with Unified Payments that had all that huge debt and also never profitable.
They are the best con men from Russia you can find.
They are giving him some 300,000 shares more for no reason. For seeing the stock from from $3.20 price the two former CEOS cashed out in just 5 trading days to clear some $15 million.
So, in four months, the stock has fallen 70% and they reward him for that!!!!
Oil has much more to fall. The Chinese are using 83 super tankers this month when average is 63 ships to deliver oil. They are filling their strategic petroleum reserves. If it were not for this soaking up the excess oil, price would be under $50 now instead of just $58 for WTI and $61 for Brent.
Oleg Firer has never made money at any company. He just roles up huge debt and convinces other companies to buy with huge debts. Then puts out press release riding on coat tails of other companies like Apple PAY to sell worthless new shares. He's done this over and over and over and over again.
Why do you think NET had less than 20 million shares at the beginning of this year and now some 48 million outstanding shares. Then yesterday, they are increasing the potential to 200 million. IS THAT SICK OR WHAT?
This Oleg Firer is so evil; a psychopath like Bernie Madoff. Pure evil.
Not only did the number of shares MORE THAN DOUBLED, but this last earnings showed they DECREASED their quarterly revenues from a year ago and from last quarter.
That's right, the number of shares more than doubled while they made less revenues.
This is after he was already given 1.4 million back in September. And that was for creating two transactions that OVER DOUBLED outstanding shares and was given to promissory debt-holders that quickly sold their shares that was just $1 back in June and was PUMPED AND DUMPED at around $3.20. Not only did these two promissory debt holders cashed out, but two former CEOs cleared $15 million.
Please look at history of the new CEO, Oleg Firer, a Fraudster. This is now a Russian controlled mafia group to wipe out shareholders completely.
At the beginning of the year, the total outstanding shares was UNDER 20 million. Now, there is 48 million shares with when they did two deceptive transactions of converting debt they took on with two entities that within just 6-9 months had been given new shares to wipe out dept that they quickly sold during PUMP and DUMP statements in September about APPLE PAY (that after 4 months their Unified Payment still doesn't accept APPLE PAY).
Then, yesterday, they approved INCREASING authorized common stock to 200 million shares when it was just UNDER 20 million at the beginning of year. ARE THEY F***** Crazy? No, they intend to wipe you out.
Proposal 2 was approved.
Proposal 3: To approve an amendment to the Company's Amended and Restated Certificate of Incorporation to increase authorized common stock to 200 million shares.
They can play this game for so long before every single executive leaves for "personal reasons."
Can we do $15 today?