Just a few weeks before Netpointers Technologies A/S filed for bankruptcy last year, and creditors lost more than one million Euro, assets worth the same amount - 1 million Euro was traded on to the new Netpointers A/S for around 70,000 Euro, which makes the price more than 12 times lower than the market one. A few weeks before Netpointers Technologies A / S filed for bankruptcy, the previously owner, and now Senior Advisor managed to sell all assets to the new Netpointers A/S for this very modest sum. Today, after approximately one year you can question the amount of the 70.000 Euro.
The new Netpointers A / S, which bought the assets of the bankrupt company for approx. 70,000 Euro, has just announced that sales in the first year exceeds one million Euro, with an EBITDA (earnings before interest, taxes, depreciation, and amortization.) of approx. 700,000 Euro. One can as a creditor, of the bankrupt company, only see gaping to such maneuvering is possible. Unfortunately, the Danish Law is configured so that legal actions is a possibility, but such an action must begin within six months, and at this time, the new company is not obliged to publish earnings, turnover, etc, so really legal actions is not an alternative. Another problem with legal actions is that you cannot reverse the trade, you can only conclude that the price was way too low and force the buyers to pay the real price, and since legal actions easily can exceed two years, no one is willing to take that risk. From, which seems that Netpointers Technologies A/S will get out with it and there is nothing that can do anything about it.
It is surprising that assets worth 10 times more, after one year only can be transferred to a company without you, as a creditor can do anything about it. However, this should serve as a warning for all the people, who are currently working with Netpointers A/S. From all this it seems that there is something that went terribly wrong at Netpointers Technologies A/S and the same is likely to happen with the new company Netpointers A/S, without there is matter what earnings they are announcing.
Two times within 7 years Netpointers has filed for bankruptcy, both time removed assets worth way more than the market price, leaving creditors with huge loss of more than 1,5 millions Euros, if you combine the loss from the first bankruptcy in 2003 with the amount of the second bankruptcy in 2009, it could look more and more like Netpointers owners speculate in bankruptcy cutting creditors. Among the creditors are banks, government, private people, employees, investors, etc.
