NanoTech Entertainment, Inc. (OTCMKTS:NTEK) Back On Track
Until a couple of years ago NanoTech Entertainment, Inc. (OTCMKTS:NTEK) went by the name Aldar Group, Inc, their primary business was breeding horses and their shares were traded under the symbol ALDJ. The address of the principal office back then was 7230 Indian Creek Lane, Suite 201, Las Vegas, NV 89149 and a quick check reveals that this particular address still serves as the corporate headquarters of some other penny stocks with a less than spotless reputation – namely, National Graphite Corp (OTCMKTS:NGRC), Tiger Oil and Energy Inc (OTCMKTS:TGRO) and Black Hawk Exploration Inc (OTCMKTS:BHWX). If you are a frequent visitor of our website, you will know that all these ventures seem to be run by the same group of people and there are also some things to suggest that they are connected to Universal Potash (OTCMKTS:UPCO) and Northumberland Resources Inc (OTCMKTS:NHUR) (who were recently promoted with some catastrophic results).
Sure enough, when you check out NTEK‘s old filings you see the same old names over and over again – Howard Bouch (currently the President of BHWX) was a large shareholder, Kevin Murphy (currently UPCO‘s CEO) was ALDJ’s CEO and our old friend Ken Liebscher (who seems to be involved with all the aforementioned ventures in one way or another) was acting as the CFO. Normally, these would have been massive red flags, but this time they don’t count. A lot of time has passed since then and, as you can see NTEK have a new name, a new ticker, and a new management team.
They seem to be doing rather well too. Despite some hesitation displayed last week, NTEK‘s shares have been smashing the charts in the last month or so. Their board on iHub also seems to be among the most visited ones and there’s definitely a reason for this – a lot of PR action. A total of ten headlines have appeared on NTEK‘s Yahoo Finance profile since the beginning of June and they all talk about partnerships with other small cap ventures like Hannover House Inc (OTCMKTS:HHSE), endorsement from famous MMA fighters and the future of television. The big one, however, was dropped after midnight yesterday and it would appear that forum users are more excited than ever.
The latest press release to come out of NTEK‘s HQ was published today at 12:50 AM, it speaks about their Nuvola 4K Ultra HD Streaming Set Top Box and it says that it will sport the latest state-of-the-art video processing technology from NVIDIA Corporation (NASDAQ:NVDA). So, at this point, we can safely say that the geeks are well satisfied, but there’s some news for the shareholders as well.
A new website was opened through which people from all over the world should be able to pre-order the box of tricks that you can connect to the Internet and do just about anything on it – playing video games, watching MMA fighters battle it out on the ring or reading books on your TV set. The last concept seems a bit distant to us, but we’re sure that someone will like it. The Nuvola costs around $300 which means that while it’s not cheap, it still doesn’t appear ridiculously expensive and that boosts the potential even further.
All in all, NTEK‘s shareholders have a reason to be excited and they certainly are. As always, however, there are one or two things that we’re not entirely sure about.
In a press release dated May 29 NTEK said that the media player will be available “for order” starting July 15 whereas according to the new website (whose domain, by the way was registered yesterday) shipping will not start until next month. In addition to this, the portal through which you can order your brand new media player doesn’t seem to even have any sort of Terms of Use which is definitely not something you see every day.
You’re probably going to accuse us of being overly fastidious about the breaking news but there seems to be quite a lot of commotion around NTEK during the last few months and having in mind the fact that not that long ago, the ticker was standing way below the current price, we’re not sure if it’s not getting too much. Certainly, if all the announcements made during the last few weeks are true, they have managed to achieve an awful lot in very little time. Some of the facts that we talked about in one of our previous articles, however, lead us to believe that you should be rather cautious when contemplating a potential NTEK investment.
