TheFirm
1 hour ago
no offense to Shotsky and a few others... but you are trying to re litigate NOW what Tilton and NSAV did not and more importantly, didn't even bother to show up for several hearings. If your wife sues you for divorce and you dont show up for court or get a lawyer, years later you cant say "but she was a cheating blank and wasn't entitled to this!" it's too late and she got the car,the house and your savings account because YOU DIDNT SHOW UP and your lawyers all quit. Even now, it doesn't look like Tilton ever filed by yesterday WHY they objected to the receivers report Tilton's side asked for this extension in court call and she granted and then they didnt bother writing a report? this is a big NO NO with judges. once again disrespecting the court and her and wasting time. THIS action right here Shotsky is why the amount gets skewed, its a one sided argument so who has the upper hand? either she assigns bankruptcy or just gives it all to Vik and says " do what you want but im not doing this anymore:
shotsky
2 hours ago
Original 8K detailing the CHIF/NSAV/BARITZ/GROVER 'deal', which was never completed.
THE DEAL
Most important is at the bottom. It details what would happen if the deal was not completed. It was NOT completed.
This is the reason Grover was not entitled to those shares.
Carefully read the 'steps' that were to be carried out. None of that happened.
It will be seen that CHIF played a key role in this deal. Reading of CHIF's disclosures shows absolutely NOTHING of this deal was ever reported. The name Grover was not mentioned. The 'merger' of the two companies (below) was not mentioned. Therefore, the 'deal' never happened.
Step 2: Definitive merger agreements for Hartley and Lifetime must be drawn up and executed on a best efforts basis no later than February 29, 2016 . Upon consummation of the merger transaction(s) contemplated by March 15, 2016, NSAV will issue to the counterparties consideration as follows:
• 1.0 billion common shares,
• 95 . 0 million Series A Preferred shares, and
• $5.0 million note convertible into 50 . 0 billion common shares. This note shall convert upon completion of a reverse split, to be filed no later than June 30, 2016 via form 14C with the SEC.
NSAV is currently trading on OTC Markets in New York under the stock symbol NSAV. NSAV is a presently a fully-reporting company with the SEC and is currently one 10Q behind in its SEC filings . NSAV represents that it is not a legal shell, as defined by the U.S . Securities and Exchange Commission (SEC) and was not a legal shell, as defined by the SEC at the time the above reference debentures were issued to KBM Worldwide.
CHIF agrees to provide, either directly or through its service providers , all the services necessary to obtain fully-reporting status with the U.S SEC. These services include U.S. GAAP accounting , SEC approved audits, legal serv i ce for the filings of 10K's and 10Q's with the SEC, all FINRA filings , all OTC Markets filings, compliance, corporate services, transfer agent issues, investor relations and all other aspects of services for a public company. NSAV's August 31, 2015 10Q will be prepared, completed and filed on a best efforts basis by February 15, 2016. Further, NSAV ' s November 30, 2015 10K will be prepared, completed and filed with the SEC on a best efforts basis by March 14, 2016, which would require a 15 - business-day extension to be filed with the SEC by February 29, 2016 .
CHIF agrees to assume the estimated $40,000.00 of payables in NSAV and pay them off promptly . CHIF will have the right and authority to negotiate with each of these creditors.
CHIF agrees to purchase or locate a non - affiliated investor to purchase the convertible debt held by KBM Worldwide for $180,000.00 cash. This transaction will be papered with KBM and completed as follows:
1) $60,000 . 00 to be pa i d no later than 7 business days after the filing of the Company ' s form 10Q for the quarter ended August 31, 2015
2) $120,000 . 00 to be paid no later than 14 business days after the filing of the Company's form 10K for the fiscal year ended November 30 , 2015.
It is further agreed that the Series A Preferred shares that Baritz will be transferring to CHIF will be returned to Baritz if the $ 60,000.00 tranche is not paid in accordance with the terms stated above and all fees and payables paid up to that point by CHIF will be non-refundable.
Further, if CHIF or said non-affiliated investor does not pay the $120 , 000.00 tranche to KBM Worldwide in accordance with the terms stated above then CHIF will return said Series A Preferred shares to Steven Baritz upon CHIF being reimbursed for all costs it incurred in this transact i on up to that point, including the $60,000 cash paid to KBM .
leverage102
19 hours ago
Judge STILL needs to reply on Motion to VACATE. Civil case; Default Judgement Based off the Highest Price of .14.
Judgement is Erroneous; Vik would never have received that amount, Never. If Judgement is Vacated, threat of BK is gone. OTC companies especially Pinks SURVIVE off selling Stock until they are revenue Producing. * Apps to Shopping; set to Launch. Companies still to onboard. Revs will imo start to generate.
I laugh when reading the lies that are posted. One worse than the other. as for NSAV outcome remains to be seen until we hear from the Vacate Motion.
Hope all works out for the investors. Bashers are here to protect and inform; YET WHENEVER Investors Post, they heckle them, everyone of them. Thought they were here to inform investors, yet they blatantly outright MISLEAD ?
Major Profits
21 hours ago
Looks like your first post refuting something similar wasn't read (you on iggy maybe?), it didn't sink in or he thought he'd try again hoping everyone forgot your reply.
"The Receiver cannot recommend Bankruptcy Mut!"
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175428965
Where did the receiver recommend to the judge BK.. POST THAT, SHM!
https://investorshub.advfn.com/boards/replies.aspx?msg=175428965
Page 6 of his report:
Given the lack of resources of NSAV to fund even basic operations—let alone a
receivership or even potential litigation claims against AWH, Silverbear, or other counterparties—the Temporary Receiver further recommends that his appointment not be made permanent at this time. Moreover, as NSAV has no foreseeable ability to fund liabilities or future operations, the Temporary Receiver recommends—subject to the views of the Parties to this Action—NSAV file a Chapter 7 Bankruptcy, which will allow a court-appointed trustee to wind down NSAV in an orderly manner under the provisions the Bankruptcy Code. The Grover Judgment, any other liabilities, and any fee application approved for the Temporary Receiver would all be unsecured liabilities in such bankruptcy proceeding.
Here's the report. Maybe he'll finally read it.
https://www.courtlistener.com/docket/60664181/232/grover-v-net-savings-link-inc/
GLTS
$NSAV
ccore10
22 hours ago
The 387,500,000 shares were not dependent on the deal. If you read the SEC filing there are multiple steps, the steps are INDEPENDENT unless noted. Step 1 is were the shares are promised upon signing of agreement. Step 2 is where 1.1 billion additional shares were promised if the deal was executed. Step 2 failed so he still gets everything from step 1:
https://www.sec.gov/Archives/edgar/data/1432176/000100201416000694/exh10-1.htm
Again, the judge has this and knows this, this is why Grover wins.
shotsky
22 hours ago
This is my last on this but the point is and always was that the 'deal' was dependent on certain points being accomplished. Those things did not happen, and so the deal fell through. No one was owed any shares because the deal fell through.
I doubt very much that the judge saw the original deal and what needed to be done to finalize it. As I said, the details are there, but I'm not digging any more on it, and am through commenting on it. When you read the whole set of details, you can see what happened. You can' take one item out of context as proof of anything.
Major Profits
22 hours ago
Not digging any more as I would think the lawyers involved and the court know the story. But, in any event, what about this? Seems to me that Vik proved some wrong-doing.
https://law.justia.com/cases/federal/district-courts/illinois/ilndce/1:2021cv05054/407373/211/
G. Civil Conspiracy
Grover moves for summary judgment on his civil conspiracy claim (Count XV). To prevail on a conspiracy claim under Illinois law, Grover must establish: “(1) an agreement between two or more persons for the purpose of accomplishing either an unlawful purpose or a lawful purpose by unlawful means; and (2) at least one tortious act by one of the co-conspirators in furtherance of the agreement that caused an injury to the plaintiff.”Borsellino, 477 F.3d at 509. As discussed, Tilton, in concert with then-CEO Steven Baritz, CHIF and the Wilton Parties, fraudulently concealed NSAV’s change-of-control from Grover to prevent Grover from receiving his commission and refused to compensate him when such change of control occurred. Inferring from the circumstances, the fraud was perpetuated by the Corporate Defendants and Tilton, together in concert, to avoid any payment to Grover while they reaped the benefits of his services. See id. Thus, the Court grants summary judgment against Tilton on the civil conspiracy claim.
H. Damages
Grover seeks damages in the amount of $57,903,750.00. As described above, Tilton directly participated in various fraudulent schemes to deprive Grover of his contractually owed issuance of 387,500,000 Series B preferred shares of NSAV stock and $50,000.00 in debentures.
ccore10
22 hours ago
Baritz was the employee I was talking about, not Grover. Baritz is the one who brought Grover into the mix. Baritz was acting as NSAV so when he left, the agreement still stands. As for the shares, that was promised to him BY TILTON in 2016 per an SEC filing:
https://www.sec.gov/Archives/edgar/data/1432176/000100201416000694/exh10-1.htm
Theres no need to search for BS information on this board because the actionable legal documents already reside with the SEC and were entered into evidence with the judge, who REVIEWED and ALLOWED them as permissable evidence. The judge is not going to scour ihub for mystery missing details and red yarn connections. She has ALL the evidence she needs to make the judgement she made, case closed. Tilton, Knoll, Osborn, or the NSAV entity itself have NOTHING to appeal with! They cant just say, oh thats wrong...
shotsky
22 hours ago
Grover was never an employee. Here are some of the details of the deal that fell through. There is more but this will show you where the number of shared grover mentioned came from. Remember, this deal fell through, and grover did not get those shares, nor did baritz.
grover 'deal'
If you search on grover, in 2016, on this board, you will find the rest of the details.
ccore10
23 hours ago
Theres nothing to dig into, its literally the first sentence in the agreement:
https://www.courtlistener.com/docket/60664181/1/1/grover-v-net-savings-link-inc/
"THIS AGREEMENT entered into on this 28th Day of July 2015 is for the Professional Association
and arrangement of Negotiations, including Non-Circumvention, Non-Disclosure and Confidentiality
between Steven Baritz, dba Net Savings Link, Inc.""
dba literally means "doing business as"
shotsky
23 hours ago
No, it was not with NSAV. It was a sham suit and he got what he sued for because NSAV never responded.
It was a private deal between Baritz, Tilton and grover. That deal fell through. Baritz went away, Tilton became CEO and grover went away until he was fooled by NSAV's valuation of their assets. Then he decided to try to get some of it, and got himself burned in the process - everyone can now see what a dirty crook he is.
The record is out there to be read, and I have read it. You can find most of the details right here on this board, back in 2016. The rest is in the 2016 NSAV filings. It takes some digging.
DCorleone
23 hours ago
On January 23, 2016, James Tilton was appointed to our board of directors. Thereafter Steven Baritz resigned as a director. On the same date, James Tilton was appointed by our board of directors to replace Steven Baritz as our president, principal executive officer, secretary, treasurer, principal financial officer and principal accounting officer. At the time of Mr. Baritz's resignation as a director and when he was replaced as an officer, Mr. Baritz did not have any disagreements with us relating to our operations, policies or practices.
TheFirm
1 day ago
Vik was awarded 347 million shares. lets say that is sold over the course of 2-3 years and his avg price was .001... very plausible with the ups and downs and volume correct? so that is $347k....can NSAV pay that now or ever? of course not. Receiver not paid, Cole not paid and previous attorney not paid. And now with fraudulent financials filed this year and late filings and no ability to print more shares, NSAV is Dead Man Walking. Im guessing judge authorizes Receiver to file VK because she must feel embarrassed for bringing him in to this mess and now will be out over 80k when todays filings and BK are filed. in order to save face she may just turn over control to VG to decide but it doesnt sound like he wants it anymore. As for this nonsense of "Vacating",,,, that would make judge complicit in a known fraud...her own appointed receiver wrote as much.but if its in BK all this is wrapped up for her in a tidy package
leverage102
1 day ago
Illinois, a default judgment can be vacated within 30 days by filing a written motion with the court. The motion must be sent to the other party in the case, and the filer must appear in court for a hearing. The trial court has the discretion to grant or deny the motion.
Approved - Order to Vacate Default Judegment
Illinois Courts (.gov)
https://www.illinoiscourts.gov › Resources › Mor...
PDF
The judge will decide if your Motion to. Vacate Default. Judgment is granted or denied and complete the rest of this form. have filed a Motion to Vacate Default ...
https://www.ilga.gov/legislation/ilcs/documents/073500050K2-1301.htm
Illinois Default Judgments Explained
O'Flaherty Law
https://www.oflaherty-law.com › learn-about-law › illin...
May 1, 2024 — When a default judgment is vacated, the judgment is essentially nullified, and the case proceeds from the point at which the default judgment ...
Vacating a default judgment | Illinois Legal Aid Online
Illinois Legal Aid
https://www.illinoislegalaid.org › legal-information › vac...
May 24, 2020 — You can get rid of ("vacate") a default judgment by filing a motion. This is a written request to the judge asking them to throw out the judgment.
How to Ask the Court to Vacate a Default Judgment ...
Illinois Courts (.gov)
https://www.illinoiscourts.gov › Resources › Mor...
PDF
o The court is more likely to grant your Motion to Vacate Default Judgment of Foreclosure if you file it no later than 30 days after the date the default ...
Under Illinois Law Finality is Not So Final
Pretzel & Stouffer, Chartered
https://www.pretzel-stouffer.com › 26.1.31.pdf
PDF
Under section 2-1401, a party can petition the court to vacate the dismissal order, but will be subject to the requirements discussed below. Id. There is also
leverage102
1 day ago
I Don't let anyone state a misrepresentation. The Judgement Will be Vacated; it's the Law! * Oh right Vik G was going to sell 387 Million Shares at .14, GET REAL, Stock would have started tanking on the first few million shares; he wasn't the only who would have been selling.
There needs to be some common sense and Practicality; Just under 400 Million shares he was getting out at .14
I'm not going to justify my reasoning; it's ridiculous. Which is why the Judge will give her decision to Vacate in the Affirmative.
If that's the case, this judgement removes them from any threat of BK.
BOY IS VIK ANTSY, Read his Motion, begging for a hearing BEFORE JUDGE MAKES HER DECISION, WHICH WILL BE DENIED!!
YOU DO YOU AND SPAM THE BOARD WITH VOMIT. I THINK THE BASHERS ARE MAYBE 2 PEOPLE WITH SEVERAL ACCOUNTS.
DONT NEED TO ANSWER, MAJJORRR
Major Profits
1 day ago
Repeating that ad nauseam won't change what the receiver wrote! Here:
D. Grover Judgment
The Grover Judgment remaining in this case remains outstanding, although the Company and Tilton have, through counsel, moved to reconsider and vacate that judgment. The Temporary Receiver notes that the $64 million value of the Grover Judgment was based on the high price of the stock, which was only achieved as a result of one of the Silverbear deals and excitement on the possibility of a new cryptocurrency exchange, none of which came to fruition and may have been the result of misconduct not attributable to Grover. Whether NSAV has meritorious defenses is beyond the scope of this Initial Report.9 Nevertheless, even if NSAV could challenge or reduce the amount of the Grover Judgment, the Temporary Receiver’s preliminary analysis, as set forth in this Initial Report, indicates no ability to pay a judgment of any material size.
And there's that receivers fee of some $76,000 to add to it now.
F. Solvency of NSAV
Based on the Temporary Receiver’s preliminary analysis of NSAV’s financials, there do not appear to be any productive assets in NSAV to generate sufficient cash flow to meet any of NSAV’s operational or legal liabilities—regardless whether the Grover Judgment is valued at $64 million or some much lower number. None of NSAV’s purported assets appear to have any value, let alone their stated value, or any sufficiently reliable value to pledge as collateral for financing to satisfy liabilities and operational expenses.
The only verifiable asset that the Temporary Receiver has been able to find is $43 in an NSAV business checking account.
GLTS
leverage102
2 days ago
Illinois, a default judgment can be vacated within 30 days by filing a written motion with the court. The motion must be sent to the other party in the case, and the filer must appear in court for a hearing. The trial court has the discretion to grant or deny the motion.
Approved - Order to Vacate Default Judegment
Illinois Courts (.gov)
https://www.illinoiscourts.gov › Resources › Mor...
PDF
The judge will decide if your Motion to. Vacate Default. Judgment is granted or denied and complete the rest of this form. have filed a Motion to Vacate Default ...
https://www.ilga.gov/legislation/ilcs/documents/073500050K2-1301.htm
Illinois Default Judgments Explained
O'Flaherty Law
https://www.oflaherty-law.com › learn-about-law › illin...
May 1, 2024 — When a default judgment is vacated, the judgment is essentially nullified, and the case proceeds from the point at which the default judgment ...
Vacating a default judgment | Illinois Legal Aid Online
Illinois Legal Aid
https://www.illinoislegalaid.org › legal-information › vac...
May 24, 2020 — You can get rid of ("vacate") a default judgment by filing a motion. This is a written request to the judge asking them to throw out the judgment.
How to Ask the Court to Vacate a Default Judgment ...
Illinois Courts (.gov)
https://www.illinoiscourts.gov › Resources › Mor...
PDF
o The court is more likely to grant your Motion to Vacate Default Judgment of Foreclosure if you file it no later than 30 days after the date the default ...
Under Illinois Law Finality is Not So Final
Pretzel & Stouffer, Chartered
https://www.pretzel-stouffer.com › 26.1.31.pdf
PDF
Under section 2-1401, a party can petition the court to vacate the dismissal order, but will be subject to the requirements discussed below. Id. There is also ...
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