{"id":5916,"date":"2015-06-10T14:14:40","date_gmt":"2015-06-10T14:14:40","guid":{"rendered":"\/?p=5916"},"modified":"2015-06-10T14:39:42","modified_gmt":"2015-06-10T14:39:42","slug":"nanotech-entertainment-inc-otcmktsntek-digs-into-new-52-week-lows","status":"publish","type":"post","link":"\/articles\/nanotech-entertainment-inc-otcmktsntek-digs-into-new-52-week-lows\/","title":{"rendered":"NanoTech Entertainment, Inc. (OTCMKTS:NTEK) Digs Into New 52-Week Lows"},"content":{"rendered":"\n

With a single green session recorded in June so far, NanoTech Entertainment, Inc. (OTCMKTS:NTEK<\/a>) is not doing particularly well. On Monday the company closed at a new 52-week low, at $0.0108 per share. NTEK<\/a> dropped 6.9% on its heaviest volume for the past month.<\/p>\n

It seems no amount of PR can help push NTEK<\/a> up the chart for more than a couple of sessions. On June 4 the company broke nearly a month of silence and put up a new press release. NTEK<\/a> announced launching a version of its UltraFlix app for Apple’s 5k iMac. The news was released around noon and pushed the company to its only green close last week.<\/p>\n

NTEK<\/a> reported a positive bottom line for the quarter ended March 2015 but the net income figure had shrunk significantly on a QoQ basis. Expenses had run rampant in this last reported quarter, with a far smaller increase in sales but with cost of sales exploding from $126 thousand to $875 thousand QoQ. This is a 13% increase of sales, against an increase in cost of sales of nearly 600%.<\/p>\n

It’s true that the effect of NTEK<\/a> inking deals to offer hugely successful movies such as Interstellar through UltraFlix will become visible in the company’s next report. However, NTEK<\/a>‘s fiscal year ends in June, which means there will be no report until late September – a stretch of time within which a lot can happen with the share price.<\/p>\n

It’s a different question altogether whether or not a couple of big titles such as Interstellar and G.I. Joe can have any tangible impact at all, when set against a catalog otherwise full of very old Hollywood movies, old foreign classics and Chinese action flicks.<\/p>\n

Whether NTEK<\/a> can manage a bounce from the $0.01 baseline remains to be seen.<\/p>\n","protected":false},"excerpt":{"rendered":"

With a single green session recorded in June so far, NanoTech Entertainment, Inc. (OTCMKTS:NTEK) is not doing particularly well. On Monday the company closed at a new 52-week low, at $0.0108 per share. NTEK...<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[247],"class_list":["post-5916","post","type-post","status-publish","format-standard","hentry","category-news","tag-ntek"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/5916","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=5916"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/5916\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=5916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=5916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=5916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}