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NanoTech Entertainment (NTEK) Releases Positive Financials And Completes Stock Buyback
NanoTech Entertainment (NTEK) Releases Positive Financials And Completes Stock Buyback.
About this update from Nanotech Entertainment Inc
[{"type":"text","content":"\n\n\n\n\n\n\n\nNanoTech Entertainment (NTEK) Releases Positive Financials And Completes Stock Buyback\n\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:\"0in\";\n}\n\n\n\n\n\n\n\n\n\n\nNanoTech Entertainment (NTEK) Releases Positive Financials And Completes Stock Buyback\n\nQ3FY13 Revenues up 37% - Further Reduction in Outstanding Shares\n\nPR Newswire\n\nSAN JOSE, Calif., May 6, 2013\n\n\n\n\n\n\n\nSAN JOSE, Calif., May 6, 2013 /PRNewswire/ -- NANOTECH ENTERTAINMENT (OTC Pink: NTEK) today announced that it has released its Quarterly Financials for the period ending March 31, 2013 (Q3FY13). The report shows revenues are up 37% over projections. NanoTech also completed the third phase of a plan to buy back shares of its common stock. The NanoTech Board of Directors authorized a share repurchase program under which the company repurchased 42 million shares of its outstanding common stock in a privately negotiated transaction designed to optimize resources and cash flow while reducing outstanding shares. So far in 2013 a total reduction of 238 million shares have been acquired by the company and returned to treasury. \n\n\n\"Our total issued and outstanding shares have now been reduced to fewer than 546 million shares. The shares have been returned to treasury and our new lower total outstanding shares are now reflected in our accounts at our transfer agent,\" stated Jeffrey A. Foley, President and CEO of NanoTech. \"This continued reduction in outstanding shares has given us more leverage for future contracts and investments strengthening the company while increasing shareholder value.\" Foley closed by stating, \"With pinball product sales higher than forecast, combined revenues being to flow from both our media and communications divisions, we are looking for a continuation of growth in the second quarter of 2013 (Q4FY13) and beyond. Our goal is to move into profitability this year.\"\n\n\n\nAbout NanoTech Entertainment\nHeadquartered in Las Vegas, NV, NanoTech Entertainment is a technology company that focuses on all aspects of th...