NanoTech Entertainment, Inc. (OTCMKTS:NTEK) Fails to Take Off

After making two attempts to bounce from its new lows in April, NanoTech Entertainment, Inc. (OTCMKTS:NTEK) stumbled on both counts. After a nice spike up on Friday, this week has dragged NTEK back down. The stock closed 5% down yesterday, on volume that swelled up to 19 million shares traded.

NTEK announced adding even more indie studio movies to its UltraFlix streaming catalog on Monday. The PR came on the heels of the Friday spike and was possibly hoping to extend that but this never happened. Now UltraFlix carries even more documentaries and a movie starring French superstar Gerrard Depardieu, whose name alone may be more exciting than the majority of the content UltraFlix offers.

NTEK was betting big on adding fresh box office smash hit “Interstellar” to the streaming service’s lineup but the news only managed to get the stock over $0.02 for a brief while before it thundered down to new 52-week lows.

The company put up new PR yesterday, around noon, but that did even less for the share price. That may have to do with the nature of the news. NTEK announced acquiring UpLink.to and assigning the company’s founder, Mr. Mark S. Morris as president of NTEK‘s mobile app subsidiary. UpLink.to products include some truly confusing apps such as PhotoUpLink and VideoUpLink.

PhotoUpLink, for example, is a piece of software that allows you to do a number of things that you can do all the same without it – upload photos and photo albums to Facebook and Tumblr or make photo tweets and attach “up to 10 images” to an email. The iOS app was last updated in 2012, has two customer reviews, both giving it one star, a total of 375 ratings and an average of 2.5 stars and also happens to have one of the most awkward interfaces we have come across.

As an added bonus, here is a shot of Torus – a mobile game by Mark S. Morris, which is also listed under “Products” on the UpLink.to website.

In light of the above, the fact that NTEK sailed to a close 5% in the red on heavy volume may seem a little easier to explain.