DD Support Board and Research Team

[Arthur]

NTEK's shareholders meeting report:
http://www.ntek.com/shareholderletters/2018-01-21-Shareholder.Letter.SHM.Review.pdf

Proposal #2 was confirmed with 99% of the vote. The Company will set aside ten percent (10%) of its profits to engage in a share buyback plan of at least 100,000,000 shares returning shares to the treasury.

Proposal #3 was confirmed with 99% of the vote. The Company will reduce the Authorized Shares from 499,000,000 to 250,000,000.

Proposal #4 was confirmed with 97% of the vote. The Company will set aside a pool of 100,000,000 shares from the treasury, without increasing the outstanding shares for Executive Compensation packages.

Proposal #5 was confirmed with 99% of the vote. The Company will set aside a pool of 50,000,000 shares from the treasury, without increasing the outstanding shares for Executive Compensation packages.

The report also acknowledges that 2017 was a kinda bad year, with deep personel cuts and no profits.
Everything will go all right once the company receives the $21,000,000 loan that already figures on their books since last year.

The next topic in the presentation discussed the financing of the company. Bridgeport has committed to providing an initial round of $21M in funding to the company in the form of a two-year note. The note is structured in favor of the company and does not provide for toxic conversion. The funding will commence immediately and be completed in the first quarter of 2018. The company has also secured an additional commitment for $26M for further M&A beyond the current plan if opportunities present themselves.

The meeting then addressed the plan for 2018 featuring growth through expansion. The projections for 2018 at $13M in revenue, $3M in gross profit and $1M in net profit. For 2019, $38M in revenue, $29M gross profit and $11M in Net profit, which includes paying back the $21M and all other debts.

Shareholder communications will continue to be improved through the continuation of weekly updates and the addition of quarterly conference calls.

(There have been no press releases or "communications" since May 2017. Their then-CEO now claim he was never properly named CEO, and their alternate CEO is on the run from justice and is not mentioned in this report)

The discussion then moved to the topic of the OTC Markets. The new management team sees the value in Audits in the future when changes need to be implemented. The cost estimates have been given to NTEK at $250,000 to perform. They will be scheduled when revenues & profits can sustain the expense.
Questions have been asked about uplisting to a higher market. When audits have been completed the company will move up to the OTC-QB, and possibly OTC-QX depending on revenues and other factors. With sustained revenues and increased PPS the company will make efforts to move up to the NASDAQ to get away from the market makers in the OTC market. That move will not happen in 2018.
The company has already taken measures to remove the Caveat Emptor symbol. Nothing could be done with OTC markets until the new board was put into place at the meeting. Previous management had not taken the steps to allow any changes to be made on behalf of the company. With the new board in place these changes can be made. The new OTC account will be established. The company has also hired an SEC attorney that specializes in removal of the Caveat Emptor symbol. OTC Markets policy is to have the symbol for a minimum of 30 days.