In August 1999, Martin Andrew Elton took most of Loadtek's property without authorisation and began selling it from another company he set up for the purpose - Powtek Ltd. At the time of that company's incorporation, Loadtek Instruments Ltd was manufacturing and selling a product identical to the one Mr Elton began selling. Martin Elton remains a director of both companies, a serious conflict of interest which he refuses to address.
For these reasons, you should avoid dealing with Powtek or Mr Elton where related to Electronic Loads. Under no circumstances purchase product from Mr Elton or Powtek, also do not entertain any thoughts of partnering with him or investing in Powtek Ltd.
Other inappropriate behaviour from Mr Elton includes:
Any claims by Mr Elton that he owns the stock, or has legal rights to the stock and product design, or that it was agreed he could use it out of Loadtek are untrue. Mr Elton is without doubt a very persuasive and plausible salesman. Please treat both parties with suspicion if you are unsure - one of us is obviously lying.
A claim of NZ$100000 remains outstanding against Mr Elton for intellectual property arising from work that has not been paid for.
I must also make it clear that Loadtek Instruments Limited accepts no liability for any of Mr Elton's or Powtek's actions.
Director, Loadtek Instruments Ltd.
Why this information is here
What is happening now?
Attempts are still being made to negotiate with Mr Elton, although he is making this extremely difficult. An offer is on the table to purchase Mr Elton's shares.
The information presented above is only the tip of the iceberg, and relates mainly to Loadtek's issues with Mr Elton. An intellectual property dispute also exists between myself and Mr Elton. Towards the end of 1999, I was left with no option but to publish details of Mr Elton's serious actions against Loadtek and myself on this website (www.loadtek.com) where it has remained since, this information remains for reference, as it was left December 15, 1999.
It was not my intention to publish information that was in any way defamatory, slanderous or libellous and I believe it is not, as it is factual and in hindsight was overly fair to Mr Elton.
Further additions or alterations may be made from time to time. At this stage Loadtek's original website remains "off" due to concerns of further plagiarism by Martin Elton, but the picture below shows the product.
The information on this page is accurate to the best of my knowledge at the time of writing, 26 February 2001.