As I posted earlier volume was down everywhere the latter part of the week because of the UNDT debacle.
ress Release Source: ProTek Capital, Inc. On Thursday February 10, 2011, 8:51 am EST
NEW YORK, NY–(Marketwire – 02/10/11) – ProTek Capital, Inc. (Pinksheets:PRPM – News) is pleased to announce that it has come to an agreement with the company NX Global Inc. who holds $500,000 Preferred A series shares in ProTek Capital, to return the 500,000 Preferred A shares to the company. It also has been agreed that ProTek Capital Inc. will return the 50 Million NX Global common restricted shares back to NX Global as part of this agreement.
ProTek Capital received these shares as part of the settlement agreement dated November 3, 2010.
On receipt of the Preferred A series Shares the Company intends to retire them.
“This transaction will strengthen the balance sheet as part of the 2011 plans to aggressively grow the company on a sound financial footing,” stated Robert Zysblat, President.
Safe Harbor:
Statements contained in this news release, other than those identifying historical facts, constitute “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company’s future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
ProTek Capital, Inc is an East Coast based corporation that is focused in investing or acquiring software companies that are privately held or traded on the public markets.
The objective of ProTek Capital, Inc is to provide the best possible risk-return value for all our shareholders by making direct investments or outright purchases into foreign and domestic private and public software companies.
ProTek Capital, Inc will play a significant role in assisting acquired companies in raising finance and helping to significantly grow the business with the opportunity at a later stage to spin out through a variety of methods.
ProTek Capital, Inc has established a network of world-wide deal sources and is positioned to capitalize on the growing number of opportunities inside and outside of the United States.
ProTek Capital, Inc is a public company that is traded on the Pink Sheets ( PRPM.PK )
Key Catalysts for 2011
* Plans for obtaining new Equity Capital of $10 Million
* Share Buyback up to 400 Million common Shares
* Plans for an IPO of subsidiary Acute Systems
* Plans to acquire or participate in Equity Positions, Joint Ventures, New Partnerships and Additional Acquisitions in our core business
* Growth of the Board of Directors to Four Persons
* Development of an Advisory Board
* Development of new Investor Relations /PR Program (for more transparency)
Acquisition Criteria
What we are looking for are small focused software companies preferably at the next stage after start up, who are looking either to sell their business or aggressively expand and are seeking equity capital.
The market for raising capital has changed dramatically as there are 10x more companies chasing 10x less money. You must throw everything you have at raising capital.
Here is how we work : Upon initial receipt of a company’s due diligence materials, The ProTek Capital team will typically come to a decision as to whether or not to extend an invitation to engage further within a week to 10 days time.
In order for us to be the most effective, we prefer companies who can supply us with as many tools as possible. The tools usually range from a terrific business plan to a company that is audited to having a CEO who speaks great to large audiences just to name a few. We don’t require all the tools as passion for one’s own company can be enough on its own but we make it very clear that if you want us to do the best job possible, the more tools provided the better.
Company History
The full company history can be found in its filings with www.pinksheets.com
ProTek Capital, Inc. (the “Company”), formerly Propalms Inc and prior formerly Jenna Lane, Inc. (Jenna Lane), was incorporated in 1995 under the laws of the State of Delaware.
In 2005, Robert Zysblat and Owen Dukes through their company Propalms Ltd purchased from Tarantella, Inc. an exclusive license and purchase option agreement for the worldwide intellectual property rights, including the entire customer base, of a software product called Terminal Services Edition (“TSE”).
In 2006, Robert Zysblat and Owen Dukes took control of Jenna Lane Inc., and completed a reverse merger with Propalms Ltd.
Robert Zysblat and Owen Dukes with their many years’ experience in the software industry built up a worldwide distribution network to sell the flagship software product.
Robert Zysblat and Owen Dukes in 2010 purchased the subsidiary Propalms Ltd, as part of a new direction and corporate strategy to increase the value of the company shares.
Robert Zysblat and Owen Dukes are continuing their focus on looking for new start up software companies to help them expand and grow and eventually spin out.
Protek Capital Leadership
Robert Zysblat – President
Mr. Zysblat has a well known entrepreneurial track record in the security software industry and has successfully led and sold a number of significant messaging companies. In 1998 he purchased 100% of the shares of Computer Communications Ltd, becoming its CEO, and successfully sold this business in a management buyout in July 2001. In December 2000, he purchased 5th Generation Messaging, becoming its CEO and sold all his stock in July 2002. In September 2002, he purchased MSS communications becoming its Chairman, and sold the business in 2004. Mr. Zysblat has been with ProTek Capital. since July 2005. He was appointed CFO and became a director of Jenna Lane in December 2006 and assumed the positions of Chairman and Chief Financial Officer as part of the merger with the Company in June 2007.
Owen Dukes – CEO
Mr. Dukes has twenty years of extensive industry experience. He worked for Phoenix Software, the leading Microsoft reseller, as their UK channel manager from 1993 to 2000. Mr. Dukes then worked as Business Development Manager for Surf Control PLC, from 2000 to 2001, building up their UK market to a multi-million pound enterprise. Also in 2000, he launched Arc Technology Distribution Ltd, and purchased two other distributors, Unidirect Ltd and IPconnect Ltd. Mr. Dukes resigned from ARC in 2006. Mr. Dukes was appointed CEO and a director of Jenna Lane in December 2006 and assumed those same positions as part of the merger with the Company in June 2007.
Matt Malarkey – Chief Technical Officer
Matt Malarkey leads the product and technology direction for the ProTek acquisitions. His areas of expertise cover application delivery and desktop virtualization along with an in-depth knowledge of Microsoft, Citrix and VMware solutions. This knowledge enables him to successfully drive the on-going management strategy at ProTek Capital Inc
Prior to joining Propalms Inc, in 2006, Matt spent ten years working with Citrix and Microsoft technology as a technical engineer involved in the design and delivery of many large scale deployments. Matt has been a Microsoft Certified Systems Engineer for 12 years and is a Citrix Certified Enterprise Administrator.
Current Share Structure
A/S 2,000,000,000
O/S 1,987,218,472
Restricted 640,756,906
Float 1,346,461,566
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