NanoTech Entertainment, Inc. (OTCMKTS:NTEK) has recently been paying a lot of attention towards potential deals and acquisitions to help grow its business with UltraFlix. However, this time the company has deviated from its trend and acquired UpLink.to, a mobile application company known for its excellent service quality. To stop any potential changes in quality, the terms of the agreement include several clauses to make it a profitable decision for both companies.
One of these clauses states that Mark S. Morris, the founder of UpLink, would be the president of the new entity. However, NTEK would provide the subsidiary with resources to enhance performance, while introducing several new products at the same time. Two of the most prominent UpLink products are Video UpLink and Photo UpLink. However, now these products and others would be sold under the brand name of NanoTech Entertainment.
Mr. Morris will now be looking after the launch and updates to the company’s products, which also include NTEK’s 4K video applications. Additionally, there is also a possibility that NTEK’s 4K UHD technology would be integrated with the automated media file management system used by UpLink.to. Mr. Morris stated that his UpLink venture was nothing, but pure passion; however, the current results have been overwhelming for him. He also expressed joy at becoming a part of NTEK and promised to focus on applications that would add value to NTEK.
Unfortunately, the company’s recent run of a series of updates on its 4K UHD technology has got the investors a little cautious about the stock. Consequently, the stock has been falling down the charts, with small upward movements in between. The company tried pumping the stock, but at the end of the week the stock was back where it started. However, the recent acquisition update can really give investors something to be pleased about.
NanoTech Entertainment, Inc. (OTCMKTS:NTEK) finished the June 25 trading session with a loss of 23.9% to its share value. The stock closed at $0.00799 after trading 53.7 million shares during the session.