Will NanoTech Entertainment, Inc. (OTCMKTS:NTEK)’s Recovery Last?
After an impressive climb in March we saw the stock of NanoTech Entertainment, Inc. (OTCMKTS:NTEK) lost a total of more than 80% of the value that it had gained in the following couple of months, while the daily volumes increased significantly.
Meanwhile, the company had taken a bit of a break from the constant issuing of press releases announcing every single new addition to its UltraFlix 4K streaming network and this might be just one of the reasons for the bad performance. The report for the first quarter of this year also shows little changes from the one for the previous three month period.
- cash: $13 thousand
- total assets: $10.49 million
- total liabilities: $2.82 million
- gross sales: $4.8 million
- net gain: $257 thousand
The report has its good sides and its bad sides. On one hand NTEK has really low cash on hand, but the total assets are decent. The liabilities are not that big, but more than half of it are in the form of convertible notes payable, something that isn’t very good when looking at a company whose share-printing presses have been working full stem for quite some time now.
Still, NTEK managed to boost itself up in the final session of last month and gained 32% in Tuesday. Yesterday the company issued its first press release in more than two months, which helped the ticker gain another 39.39% in value and close at $0.0046 per share.
Unfortunately, it would appear that the upward momentum was cut short and we see that NTEK is trading 13.04% in today’s session so far. In any case, be sure to do your due diligence and weigh out the risks before putting any money on the line.
