NanoTech Entertainment, Inc. (OTCMKTS:NTEK) had their long awaited Conference call this afternoon. The call was hosted by CEO Mr. Peter Riordan and close to 250 people called into to listen to the 15 minute presentation.
The big question on everyone’s mind was why the A/S was increased by 250 million shares just days after new CEO Peter Riordan said in a letter to shareholders ”We have not changed our Authorized Shares and have no current plans to change it.”
Apparently the new shares are to pay for new employees, contracts, acquisitions and funding. Mr. Riordan said they will be putting out a major announcement next week, he said they will be launching a new 4k channel featuring concerts and PPV Sporting Events.
NTEK has been very successful in gaining a massive following on the bb’s; the stock made an absolutely spectacular rise in 2013 running from sub pennies to over $0.15 a share so we know this one has to big moves in its blood.
NanoTech Entertainment, Inc. (OTCMKTS:NTEK) is a technology company that focuses on all aspects of the entertainment industry. The Company has created a number of products including the Nuvola NP-1 which is the world’s first streaming media player that supports 4K UltraHD movies.
The Nuvola NP-1 is the world’s first streaming media player that supports 4K Ultra HD movies. Connect via Ethernet or Wi-Fi to any network with 6Mbit/s or greater1 and start watching TV in Ultra High Definition. Nuvola can stream 4K Ultra HD movies and videos from a variety of sources including the bundled NanoFlix UHD channel.
NTEK operates a 4k movie streaming service called Ultraflix that they hope becomes the Netflix of Ultra HD. The main obstacle seems to be lack of quality content but this is changing as more studio’s embrace the new format.
UltraFlix says they already have 500 hours of 4K content, including films from the MGM library, 34 IMAX documentaries, 50 rock concerts, and 100 hours of free content and its already bundled with the new T.Vs from Hisense, Samsung, Sony or Vizio with the UltraFlix app. It has generated positive reviews and took home the Envisioneering Innovation and Design Award at the ShowStoppers event held during the 2015 International CES.
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In January NTEK announced a global licensing agreement with Crystal Sky Pictures, a major independent film production company. With the agreement, UltraFlix™, NanoTech’s award-winning 4K Ultra HD network, has been granted the distribution rights to 11 new titles in categories ranging from sci-fi, murder mysteries, action/thrillers, comedy, romance and sports drama to family favorites.
4K Studios, a NanoTech subsidiary with facilities in San Francisco and Hollywood, is currently in the process of scanning and posting the films for immersive 4K viewing.
On February 2 NTEK said it has completed the acquisition of a controlling interest in High Velocity Enterprises, Inc. (HVEL) as part of an overall corporate reorganization. NTEK will place the NanoTech Gaming Labs division into HVEL which will include the division’s IP portfolio and full gaming operations.
With the acquisition complete, NanoTech shareholders will be allocated shares in HVEL equivalent to their percentage of ownership in NTEK. Shares will be issued to NTEK shareholders upon effectiveness of a to be filed Form S-1 Registration Statement.
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Currently trading at a $21 million market valuation NTEK has a dire financial situation which has resulted in and continues to result in significant dilution as we saw with the 250 million new shares that are coming into the market. At the same time NTEK has been very successful in gaining a large shareholder base that cares about the stock and supports it. NTEK sits at the ground floor of the rapidly growing UltraHD/4k space. We will be updating on NTEK when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with NTEK.
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Disclosure: we hold no position in NTEK either long or short and we have not been compensated for this article.