NanoTech Entertainment Inc (NTEK)

[GreenMan]

Ouch, just noticed the letter to shareholders. There's nothing good in this. Another raise in the AS, more share dilution, then a RS. Foley makes it sound like it will be all roses after the RS, but in fact there is nothing that indicates the company is and will be doing anything differently in the way it runs business that won't require more "capital raising" that ultimately translates to more share dilution. Sure, at the end of the RS the company's balance sheet, we are told, will look better, but for whom? Nowhere does Foley promise that the ritual of share dilution "to fuel the growth of the company" will end after the RS. We keeping hearing NTEK is trying to build a company. Unfortunately it comes at the expense of retail investors by watering down their investment to nothing.

My recommendation: There are way better companies out there folks.

Disclosure: no position