NanoTech Entertainment, Inc. (OTCMKTS:NTEK) Doesn’t Start The Week Well

[[tagnumber 0]][[tagnumber 1]]The chart of NanoTech Entertainment, Inc. (OTCMKTS:NTEK) is one of the bloodies out there, but the company stock [[tagnumber 2]] [[tagnumber 0]]Recently, the ticker has been on a slide after reaching for the 10 cent per share mark in September and had lost almost 50% of the gained value by the middle of this month. Last week went well and [[tagnumber 4]]NTEK [[tagnumber 5]]managed to recover on some positive news about further expansion of their 4K Ultra HD content.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The company announced that they have entered into an agreement with Eagle Rock Entertainment to add music industry documentaries and concerts of legends such as The Doors, Pink Floyd, Santana, Pink Floyd, Alice Cooper, The Who and many others to their 4K library.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This led to some interest in [[tagnumber 4]]NTEK[[tagnumber 5]], which culminated in the 24.14% gain that the ticker recorded in Friday’s session. Still, the volume was not that great and the 2.46 million shares that changed their owners managed to generate only $160 thousand in trade value.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]We should also not forget that [[tagnumber 4]]NTEK [[tagnumber 5]]didn’t show a decent amount of cash reserves in its latest annual report, but the company still recorded some impressive revenues.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 25]] [[tagnumber 26]]cash: $36 thousand[[tagnumber 27]] [[tagnumber 26]]current assets: $1.9 million[[tagnumber 27]] [[tagnumber 26]]total liabilities: $824 thousand[[tagnumber 27]] [[tagnumber 26]]annual revenues: $15.2 million[[tagnumber 27]] [[tagnumber 26]]annual net profit: $614 thousand[[tagnumber 27]] [[tagnumber 36]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The company has a lot of revenue streams and the fact that its market cap is currently sitting at $38 million is strange, considering other companies in the OTC markets. Still, it should definitely strengthen its cash reserves and maybe then we can see a more consistent positive movement.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]After the success [[tagnumber 4]]NTEK [[tagnumber 5]]had last week it started this one a little disappointing, losing 9.58% for no apparent reason. As always, we consider that doing your due diligence and weighing out the risks is of the utmost importance.[[tagnumber 2]]