NanoTech Entertainment, Inc. (OTCMKTS:NTEK) closed for the first time this month on a high after a dismal run that saw it clock a 52 week low of $0.0108. The poor run continues to elicit concerns considering the company has aggressively been releasing new PRs as it seeks to stay in touch with investors.
NanoTech Entertainment Licensing Agreement
A 12% surge came on news that NanoTech Entertainment, Inc. (OTCMKTS:NTEK) had a signed a licensing agreement with Alchemy, a distributor of film and television content. As part of the agreement, Nano Tech Entertainment was granted distribution rights for Alchemy library for full-length movies as well as any new releases.
It remains to be seen what kind of impact the news will have especially in turning around a downward trend that has remained persistent in the recent weeks. NanoTech Entertainment, Inc. (OTCMKTS:NTEK) is also banking on deals with other players in the industry, to revitalize stock growth and improve its sentiments in the Street.
The company has already signed an agreement for popular movie Interstellar that is expected to have an impact on the financial front, in the next quarter. NanoTech Entertainment, Inc. (OTCMKTS:NTEK) has also announced plans to unveil a version for UltraFlix specifically targeting Apple’s 5k iMac.
Concerns Surrounding NanoTech Entertainment
The company might have posted an impressive quarter for the three months ended March 2015, but a decline in revenues on QOQ continues to elicit further doubts. Expenses continue to rise with a minimal increase in sales much to the concern of investors.
How well NanoTech Entertainment, Inc. (OTCMKTS:NTEK) can remain financially stable going forward remains to be seen. It will also be interesting to see what impact the acquisition of Mobile Application Developer UpLink.to will have on the company’s bottom line in terms of earnings.
NanoTech Entertainment, Inc. (OTCMKTS:NTEK) has already spun gaming division NanoTech Gaming having acquired High-Velocity Enterprises Inc as well as 4K HD network UltraFlix.