Zecotek Photonics Inc ZMSPF

New facts ...

[schelbibbes]

Loan Payable

 

ZIS offered a 2% equity interest in ZIS in exchange for USD 1.5 million. The funds have been received but due to a declining share price, the Chinese investment group requested to renegotiate the investment and the parties agreed to make it a loan convertible to shares when the restructuring transaction is finalized. An additional USD 1.5 million was invested by the same investor during the quarter for an increase in equity interest.

The terms have not been finalized to date. USD 3 million has been recorded as loan payable.
 

On July 29, 2019, ZICL received RMB 1.5 million (equivalent to $286,500) where the loan bears an annual interest rate of 15% and will mature on January 29, 2020.

[maestro1]

Yah $1,500,000 at $0.01 there you have it!  150,000,000 more shares floated! All existing shareholders totally wiped out!  I thought having 1,000,000 of this garbage would make me a nice return, now it’s basically worthless!

[Pandora]

I see no news releases this morning but for whatever reason TD no longer shows ZMS as halted.

[savyroller]

BMO shows 0 bid 0 ask, and no recent news.   

[savyroller]

Trading on this should resume any time now, unless there is more discloser needed for IROC. This also trades on a Europian exchange as well, does it not,??

[maestro1]

Still trading OTC in tge US!  What a pathetic excuse for a company!

[Pandora]

On December 5 there was news saying ZMS was "Halted". On December 6 the companys issued this news release saying the company was "suspended from trading" pending the issuance of financial documents. They also suggested they would apply for reinstatement of trading. TD Waterhouse no longer shows it as "Halted" but there has also been no followup news release saying

[maestro1]

I called Tim, and he said that there will be a NR put out about the trading resumption, right after they put out the shareholders letter regarding the restructuring of the company, so never!

[geeseman]

Maestro, What number were you able to reach him on?  I tried calling his cell 1-604-290-8100 and the phone never rang and my text message could not be delivered. He could be going into hibernation just like our President.   Over the past year, I have many emails and text messages confirming that the restructuring was in process and required VSE and auditors approval prior to being

[Pandora]

Tim is a consultant as opposed to being an employee. He represents a number of companies so one would think he will answer his phone - at least at some point. This is from another company he writes for: Tim McNulty [phone] [e-mail]

[maestro1]

It was a joke, I have never spoken to this Tim guy, this company is. Not worth pursuing in court, it’s a scam, and I should have known better!

[Pandora]

Seems that you called that one right.

[savyroller]

WTF do we do now as the brain trusts, continue to do what ever they are doing, behind closed doors. This destructuring and transfering wealth around to benefit some, while others are getting shafted, is mind boggling. Its hard to fathom , what has gone on here and continues to do so, with zero regard for the retail share holders. Must be something real big and exciting, that they have to announce,

[Pandora]

I wonder if there are any large well financed shareholders getting shafted or if it's just a bunch of small independent shareholders such as myself. With the type of technology and the large market it was focused on I felt there would be well financed people involved but then they were probably smart enough to get out earlier. If there are still some here and they are in fact getting shafted

[Pandora]

I wonder if they will wait another 12 months before they give us the next word?