Let's compare the Jan. 19 newsrelease, and what the SEC & Dunavant say about it.
It is clear that the newsrelease made a false statement about the loan:
=============
news release:
BODY:
William R. Dunavant, president and CEO of Corsaire, Inc. (OTC Bulletin
Board: SNBD), announced the acquisition of 51 percent of the stock of Modern
Telnet of England. Terms of the transaction have not been disclosed at this
time. It does, however include approximately $12 million of Modern Telnet assets
....
Corsaire also announced today that it has secured a $1.5 million line
of credit from a European bank.
==================
The SEC:
The Commission temporarily suspended trading in the securities of NCT because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, the purported acquisition by NCT of certain companies' assets and stock and the value of those assets and stock, a $1.5 million line of credit purportedly secured by NCT from a European bank, the revenue generated by an American company purportedly acquired by NCT, and the business success and reputation of NCT's CEO and president.
===========
Dunavant's email:
What Should of been said is the 1.5 million dollar facility was given to MTL |
