DD Support Board and Research Team

[DaReal]

NTEK misleading PR's?

On 01.Feb 2013 NTEK released this PR:

NanoTech Entertainment (NTEK) Completes Buyback Of Twenty Five Percent Of Its Common Stock
Completes Phase Two of Buyback Plan Significantly Reducing Overall Outstanding Shares

PR Newswire

LAS VEGAS, Feb. 1, 2013

LAS VEGAS, Feb. 1, 2013 /PRNewswire/ -- NANOTECH ENTERTAINMENT (PINKSHEETS: NTEK) today announced that it has now completed the second phase of a plan to buy back shares of its common stock. The NanoTech Board of Directors had previously authorized a share repurchase program under which the company repurchased 25% of its outstanding common stock from the open market and in privately negotiated transactions. The program identified two stages, whereby a total of 195 million shares were acquired. The company had completed the phase one buyback on January 25th 2013 and has now completed the phase two buyback.

"Our total issued and outstanding shares have now been reduced from over 766 million shares to fewer than 575 million shares. The shares are being returned to treasury and our new lower total outstanding shares will be reflected in our accounts at our transfer agent by the close of business on Monday," stated Jeffrey A. Foley, President and CEO of NanoTech. "This reduction in outstanding shares has given us leverage for future contracts and investments strengthening the company. This also reiterates our commitment to building long-term value for the company and its shareholders." Foley closed by stating, "We will use these assets to optimize our opportunities to increase investments in R&D as well as enter into strategic partnerships and acquisitions. The buyback puts us in a stronger position as we identify such opportunities."
http://www.otcmarkets.com/stock/NTEK/news/NanoTech-Entertainment--NTEK--Completes-Buyback-Of-Twenty-Five-Percent-Of-Its-Common-Stock?id=58230&b=y

Then in the Letter to Shareholders released on 15th Feb 2013:
http://www.otcmarkets.com/stock/NTEK/news/NANOTECH-ENTERTAINMENT--NTEK--RELEASES-LETTER-TO-SHAREHOLDERS?id=58798&b=y

Many questions have been raised about our recent share reduction. In January the company
retired over 190 million shares through a two phase plan where we negotiated private
transactions with early investors. These shares were not purchased in the open market and all
transactions were properly documented and reviewed by counsel.

On Top of that they are now saying:
The company was not required to file any notices with the SEC as these shares were not purchased in the open market.

Purely Bogus imo, since the Company filed already on Jun 26th a Form 15:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8688688

FORM 15
CERTIFICATION AND NOTICE OF TERMINATION OF REGISTRATION UNDER SECTION 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR SUSPENSION OF DUTY TO FILE REPORTS UNDER SECTIONS 13 AND 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
Commission File Number 333 - 149184

NanoTech Entertainment , Inc.
(Exact name of registrant as specified in its charter)

3838 R ay mert Drive, Suite 3 , Las Vegas , NV 89121 (70 2 ) 518-7410
(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)

Common Stock
(Title of each class of securities covered by this Form)

(Titles of all other classes of securities for which a duty to file reports under section 13(a) or 15(d) remains)

Please place an X in the box(es) to designate the appropriate rule provision(s) relied upon to terminate or suspend the duty to file reports:


Rule 12g-4(a)(1)

o

Rule 12g-4(a)(2)

o

Rule 12h-3(b)(1)(i )

o

Rule 12h-3(b)(l)(ii)

o

Rule 15d-6

x

Approximate number of holders of record as of the certification or notice date: 66

Pursuant to the requirements of the Securities Exchange Act of 1934 (Name of registrant as specified in charter) has caused this certification/notice to be signed on its behalf by the undersigned duly authorized person.

So imo the last PR's were clearly used to mislead Investors, the first one was clearly stating that the shares were bought in the open market, and all of a sudden two weeks later they are saying the shares weren't bought in the open market but via a "private transaction"...
They do not outline any details at all, not about the funding, not about the "private transaction", nothing!