Kontrol Technologies Corp N.KNR

Excerpt from Stockwatch...cashed up! Future?

[tooez1]

2024-06-12 10:10 ET - News Release

 

Mr. Paul Ghezzi reports

KONTROL TECHNOLOGIES PROVIDES CORPORATE UPDATE

Kontrol Technologies Corp. has provided a corporate update.

The Company has entered into a definitive Asset Purchase Agreement for the sale of all the operational assets and the assumption of certain liabilities of its wholly owned operating subsidiary CEM Specialties Inc. (CEMSI) (the "CEMSI Sale"). The financial closing date is anticipated to be June 21, 2024. The sale price is $16.25 million minus estimated post-closing adjustments and Kontrol will retain net working capital estimated at $1. 25 million. The total estimated proceeds to Kontrol including retained working capital is approximately $17.3 million.

[Mostlyserious]

I don't think there is much left.  Company should pay out the cash as a dividend to the shareholders then see what they can get for selling whatever crumbs are left, pay that cash out and be done with it.  Ghezzi does not deserve an opportunity to spend our cash in any other ways.  Everything he started has not worked or he is selling it.  He can start anew with his own

[okgonow]

  just thought I'd check in looks like Ghezzhole is loosing his sh.. on twitter .....lol  selling off the carcass of what KNR used to be !...quite the leader now they are a one trick poney I'm sure those guys at CEMI are glad they are out from under his fearless leadership.  if shareholders get lucky he finds someone to partner with and buy out the rest of the

[Mostlyserious]

He seems to think that he has done such a good job that he can display the kind of arrogance that he does on Twitter.   Yes, BioCloud was quite something, moved the price from a few dimes to over $6.  Definitely not something that anyone can do with a failed venture. And maybe some would be reluctant to do it the way he did it. Global, well, just lost a ton of money on an

[Jilly17]

@$2.00?!  A lot of devoted shareholders and ones that were given false hopes deserve to at least get what they paid for them.  I read that they went over 6 dollars?  I feel so bad for those ones that were informed inaccurately about knr's future.   Now he seems upset at the shareholders?! 

[Mostlyserious]

Not funny but if it wasn't clear, that is probably half my break even.  Bought some above $5...you know, when Ghezzi was scaling up monthly production from 10,000 units to 20,000.  At $10,000 per unit, that is $200 million monthly revenue.  OK, may not sell 20,000 units but if 10,000 unit capacity is not enough.... Alright, sounds too good to be true, so let's slash this to

[Rogg47]

20 per month, not even, wondering if he sold 20 units at all for that crappy garbage equipment?!?... Can't post here what I really think about this company and his "star" CEO, except that he has ZERO respect for shareholders!! I've posted this a few times in the past, this story should have been look by the Authorities!! But where are they when you need them?!...   

[Mostlyserious]

I was being kind.  Probably didn't even sell 20 as you said.  Probably gave away more freebies for trials than he sold. I couldn't fathom the cost of that equipment and cartridges for a not very large room but he sold the story so well over time that I had to believe it since it was in print and not on a phone call.  There is so much out there, truly amazing.  

[jawstoyz]

Told you long ago this company was a joke.  We went by there a few times and it was a ghost town.  Nobody there and doors were locked in middle of the day.  Had realtor pad lock on one of the doors.

[Mostlyserious]

I would disagree.  Jokes can be funny, I would say we got pranked into believing that they had hundreds of millions if not billions in annual revenues lined up.  We and the governments that gave them taxpayers' money in grants to, among other things, increase their manufacturing capacity. Sell the remaining parts of the carcass, collect the money, issue a special dividend and shut

[okgonow]

and thats why i gave him  his special nicname....GHEZZHOLE....!

[Jilly17]

@$2.00?!@ A lot of devoted shareholders and ones that were given false hopes deserve to at least get what they paid for them.@ I read that they went over 6 dollars?@ I feel so bad for those ones that were informed inaccurately about knr@s future.@@ Now he seems upset at the shareholders?!@