NanoTech Entertainment, Inc. (OTCMKTS:NTEK) Climbs In Anticipation of Product Launch
After bouncing up and down the charts NanoTech Entertainment, Inc. (OTCMKTS:NTEK) managed to scrape a good session once again, closing 18% up. The stock moved over 11 million shares and nearly made up half the losses incurred over the previous three sessions.
We’ve been covering NTEK for quite some time now, having outlined both the recent pump campaigns for the stock, as well as the two latest acquisitions NTEK informed about. The company acquired the ice sculpting business of its CEO on the grounds that even if different, the new business will improve the financial bottom line of NTEK as it’s allegedly profitable.
This was followed by last Monday’s announcement NTEK acquired MagicScreen3D, a company specializing in 3D displays that don’t require the user to wear glasses. Both acquisitions press releases contained no information about the way NTEK paid for them and with the company being a pink sheet alternative standard filer, there are also no 8-K filings to shed any light on the subject, so it seems investors will hopefully find this info in NTEK‘s next quarterly report which is also due soon.
The company is expected to launch what could be considered its flagship hardware product – the Nuvola set-top box and 4K HD media player. NTEK previously announced that in addition to pre-orders at their own website for the device, the Nuvola will be available on major retailer websites, including Amazon, by the end of July. It seems the product is still not up for grabs on Amazon and NTEK‘s pre-order website is still the only way to get a Nuvola, when it ships, and it ships ‘next month’, whatever that may mean. NTEK urges customers to get in line quickly because they had allegedly received a lot of pre-orders already – a somewhat off-putting and cheap advertising stunt.
This Monday the vodwiz dot com website that is a joint project of NTEK and Hannover House, Inc. (OTCMKTS:HHSE) is actually up and even taking early signups. Sadly, at the moment the service has very little to offer beyond a welcome page and a ‘Coming soon’ section.
The company’s product has just two more days left to appear on Amazon, if NTEK‘s press releases are anything to go by, and should soon ship out to customers. The next quarterly filing for Q2 of this year is also due soon and it will hopefully contain consolidated financials from the two newly acquired entities, as well as an improved financial bottom line for NTEK.
Other stocks that moved significant volume on Friday include Xumanii, Inc. (OTCMKTS:XUII) who dropped by a quarter. Troubled pharmaceutical company Affymax, Inc. (OTCMKTS:AFFY) closed the previous session 9% up on heavy volume.
