1). Company sets a date, whereby they determine who is/was a SHAREHOLDER OF RECORD.
2). Company completes their financials for the quarter.
3). Confirms there is a profit (funds available) AND makes the public filing (in NTEK's case to the OTC-Markets).
4). Company sets the date & pays out.
NTEK has set March 31st as the RECORDING DATE for two reasons really:
1) Because it is the END of a REPORTING PERIOD.
2) So they can complete their financial (as they normally would) AND include the corporate actions necessary to execute!
VERY SIMPLE. I suspect we'll be hearing about ALL MANNER of NONSENSE about this process. However, very simply, it IS the process every dividend-paying company goes through & is COMMON SENSE.
Don't believe me. Self-verify by looking up any blue chip divy paying stock & NOTE when their Dividends are executed!!!