NanoTech Entertainment Inc (NTEK)

[windansea]

ronwy; I agree with you - perhaps because I too have been burned in pinks that have grown from triple 0's to cents, only to crash.
I must admit that NTEK is the first pink I have been in that has such a large number of legitimate sources of potential revenue. But as long as it stays on the OTC, it may be subject to violent swings caused by individuals or "trading groups" who control millions of shares purchased in the 0.00XX and 0.000X range. Between the 1st week on Nov. '12, and the third week of Jan. '13, approx 1,295,000,000 shares of NTEK were traded in the subpenny range. Granted, many of these shares were flipped (there were only 388 million free trading shares available at this time), and others are being held by true "investors".
But that leaves a huge number available to be accumulated in the hands of manipulators who can drive the stock down, even when "good news" is released--not by "shorting" as often claimed by IHub posters, but simply by taking profits on their earlier purchases.
Why do they do this?? Because they can. During the last two weeks of June '13 and the first week of July '13 NTEK traded approx 200,000,000 shares between the price of 0.08 and 0.14. Technical indicators were screaming "overbought" during this period and there was not a lot of fundamental news to support the skyrocketing price. It only took a few of these multi-million shared owners to start taking profits on their positions to start the nosedive on July 9. And what fed the decline -- shorts? I don't think so. It was probably the people who bought in at prices between 0.08 and 0.14 during the 1st week of July, and saw their losses mounting. These types of swings are prevalent in OTC stocks because there is little or no institutional ownership to temper price action. That is why I hope NTEK uplists as soon as possible. I do not mean to say that those posting as "multi-million" owners on this board are the manipulators mentioned above. Just trying to illustrate what if a fact of life in pinksville. IM0.