Monday, May 06, 2013 9:42:23 AM
Good morning members,
We would like to bring to your attention once again our most promising Penny Stock
of the year
NTEK (NanoTech Entertainment) which just released incredible news just moments ago.
NTEK (NanoTech Entertainment) .013
NANOTECH ENTERTAINMENT (NTEK)
RELEASES POSITIVE FINANCIALS AND COMPLETES STOCK BUYBACK
Q3FY13 Revenues up 37% - Further Reduction in Outstanding
Shares
San Jose, CA
- May 6, 2013 - NANOTECH ENTERTAINMENT (PINKSHEETS: NTEK) today announced that
it has released its Quarterly Financials for the period ending March 31, 2013 (Q3FY13).
The report shows revenues are up 37% over projections. NanoTech also completed the
third phase of a plan to buy back shares of its common stock. The NanoTech Board
of Directors authorized a share repurchase program under which the company repurchased
42 million shares of its outstanding common stock in a privately negotiated transaction
designed to optimize
resources and cash flow while reducing outstanding shares. So far in 2013 a total
reduction of 238 million
shares have been acquired by the company and returned to treasury.
"Our total issued and outstanding shares have now been reduced to fewer than 546
million
shares. The shares have been returned to
treasury and our new lower total outstanding shares are now reflected in our accounts
at our transfer agent," stated Jeffrey A. Foley, President and
CEO of NanoTech. "This continued reduction
in outstanding shares has given us more leverage for future contracts and investments
strengthening the company while increasing shareholder value." Foley
closed by stating "With pinball product sales higher than forecast, combined revenues
being to flow from both our media and communications divisions, we are looking for
a continuation of growth in the second quarter of 2013 (Q4FY13) and beyond. Our
goal is to move into profitability this
year."
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