NanoTech Entertainment Inc (NTEK)

[Sir Francelote]

Peter was appointed as CEO in late January 2015 when he issued his first letter to shareholders (2/6/15). There he stated:

We have not changed our Authorized Shares and have no current plans to change it or to execute a reverse split. Our TA is not “gagged” and never has been

Then on 3/13/15, he issued another letter after the conference call where he stated:

This week we have increased our Authorized shares from 740MM to 990MM. 990MM was our previous authorized amount and is where we need to be in order to effectively operate our business plan. There are several factors that needed to be considered in making this decision including:

Ability to attract new Key employees and executives

Continuing to meet obligations to the employee stock plan

Continuing to meet contractual obligations

Availability to Secure Future Funding

Availability for New Technology, Product and Company acquisitions

I criticized it as many others did. However, as a new CEO he may just have realized he needed to increase the AS to execute his vision and the aforementioned points.

Now we're looking at more content deals; they just need to upload them to Ultraflix as promised.

We have to give him some time to deliver.