Business
Industrial Nanotech, Inc. Announces Finder’s Fee Program for Shareholders
Industrial Nanotech, Inc. Announces Finder’s Fee Program for Shareholders.
About this update from Industrial Nanotech, Inc.
[{"type":"text","content":"\n BROOMFIELD, Colo., June 01, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- Industrial Nanotech Inc., (Pink Sheets: INTK) a global nanoscience solutions and research leader, today announces a Finder’s Fee Program for shareholders. Industrial Nanotech, Inc. is formalizing its long-standing policy of giving shareholders a fee for every referral or lead that leads to new business opportunities for the company. Under Industrial Nanotech’s Shareholder Finder’s Fee Program, shareholders will receive 5% of the first purchase by a referred customer and 2.5% on subsequent purchases. Stuart Burchill, CEO of Industrial Nanotech, Inc. said: “We frequently receive leads and referrals from our loyal shareholders. We have always compensated them for their efforts on our behalf. The Finder’s Fee Program is designed to formalize this process and give recognition and appreciation to valued shareholders for their commitment to the company. At Industrial Nanotech, our goal is to provide an ongoing engagement model with our shareholders. The program gives shareholders an opportunity to get actively involved in the company and engage with management.” Burchill pointed out that the average market benchmark for finder’s fees is 2.5% with no residual. In this instance, Industrial Nanotech, Inc. would pay a commission above the going rate and include a residual for every referral thereafter. The rationale for paying a finder’s fee is that without the “finder” or “lead,” the parties would never have been introduced and the business transaction wouldn’t have taken place. The finder is compensated in much the same way that a commission is paid to other types of intermediaries between buyers and sellers. The company’s stock buyback program also commences today. The stock buyback program will allow Industrial Nanotech, Inc. to repurchase shares of the Company’s common stock. The frequency and amount of the stock buyback will be determined by U.S. Securities and Exchange Commission (SEC) regulations and revenue. The decision to execute the stock buyback program in 2022 instead of 2023 is a result of the company’s financial performance data released on May 17 for the first quarter of 2022. Industrial Nanotech, Inc. posted a Q1 2022 quarterly revenue record of over $3...