I don't ASK about the audits. In fact, when I have had occasions to speak with corporate staff, managers, V.P.'s, etc., of NTEK I remind them that I DON'T WANT audits until our revenues are on solid footing!!
The POINT of an audit (at this stage) is to uplist. Which means that ONE audit brings the requirement for MORE AUDITS, attorney fees, accounting fees, time, energy & resourced diverted from other revenue-generating corporate work & actions...
Revenues can run $150,000+ per tick/company.
I believe that money, time, energy & those resourced are better directed at porting UltraFlix, uploading content, hiring more staff to support these efforts, acquiring content, getting LIVE EVENT rights, marketing, promotions, Gift Card sku's in retailers, & MORE!!! In other words, getting our flagship product OUT, with as much content as possible & with as much awareness as they can with the funds they have....
In addition, anyone who has researched the film industry must have learned by now that audits are FAR MORE involved, costly & complex for an entertainment company than if we sold widgits. Why?
Well each film title is an asset that gets recorded. And each film title is DIFFERENT (as far as assets go) with incredible variance as to anticipated value, current & anticipated revenue production; date of film, film release, type of film, theatrical release or no, format, & rights, etc., all play into the valuation of EACH INDIVIDUAL FILM...Auditing an entertainment company therefore takes even MORE TIME & RESOURCES than most other types of businesses. No small consideration for the INTELLIGENT INVESTOR to ponder.
I simply ask, what GOOD are audits & the time & energy spent facilitating their execution when there is business, market-share, uploading content, porting & other business that is CONSUMING THEIR EFFORTS at the moment. Makes NO SENSE to audit NTEK at this time. Besides, when the company is established an audit holds more weight. MORE revenues & for a LONGER period,...Audits, if people are thinking about the pps, will do little...An unnecessary distraction is how I view them for NanoTech Media at this time.
NOW. As to HVEL (NTGL) we have heard from NTEK CEO who has said that the NanoTech Gaming Labs audits &/or updates are expected in ~90days!! That makes TOTAL SENSE TO ME. Why?
1) Gaming Labs needs a Casino Gaming License. 2) An audit for NanoTech Gaming-Labs would be QUICK. (not as much to audit; not as complex as NMED (NanoTech Media). 3) An audit will follow S-1 registration. 4) Which means they'll UPLIST that ticker. 5) That "legitimacy" may be (I don't know this, I am speculating) necessary for Casino Gaming Commission & simply a cost of doing business in that industry.
NanoTech Gaming-Labs KNOWS they have a marketable product, technology & patents that they can license & sell. They KNOW they have a product in VEGAS2047 that has been PROVEN (since G2E2014). So, they only need to organize the business as they have, make sure their licensure needs are funded & they should be able to obtain royalty revenues &/or manufacture VEGAS2047 within the next 15-18months.
Besides, my position on audits for ANY PENNY STOCK is well known & much can be found posted on this very board....
So, to answer your question I have NEVER said Feb 15, 2015 & I think we NOW have a Shareholder Newsletter from NanoTech's NEW CEO saying that NanoTech Gaming-Labs will have an audit &/or are anticipating an update on these matters for uplisting within the next 90days.
They have also said that EACH DIVISION will get an audit. It is a matter of semantics for me. I want to see audits when the timing is right. PERIOD!!!
NanoTech Gaming-Labs audits make the MOST SENSE to me & are likely the FIRST to get done!!!
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