NanoTech Entertainment Letter to Shareholders
The NanoTech Board of Directors wishes to provide a shareholder update
regarding corporate reorganization, business summary, and forward looking
improvements planned for the coming months. As many shareholders have
recently communicated, the board is equally disappointed with the current price
per share and market valuation especially during this unprecedented time of
growth for the company. We are confident in the future of the company and the
success that will return shareholder value.
Effective immediately, the board is announcing the departure of Peter Riordan as
CEO. Chairman Jeff Foley will act as interim-CEO and lead the efforts, to affect
several changes in operations including a search for a new CEO. Mr. Foley will
immediately implement an improved communications strategy with the board, the
shareholders, users and the media. We thank Mr. Riordan and wish him well in
his future business ventures.
The current valuation is not indicative of the actual business operations and the
many major accomplishments the company has experienced with its flagship
UltraFlix network in the past year including:
- Releasing support for several new high profile hardware platforms
- Being a featured app on Roku and Sony TV's
- Increasing the library offering by 4 times including major studio offerings
increasing in the past year from 10 titles to over 1,000 titles
- Establishing exclusive distribution of 4K Ultra HD Movie Offerings from Major
Studios including several new releases such as Terminator Genisys
- Releasing original content with major partners such as the San Francisco 49ers
- Customer base growth over 1000% including a recent 10 times month over
month growth during the past 2 quarters
- Establishing UltraFlix as the source for the best quality versions of any movies
available by any consumer network
- Being featured in store promotions with major brands including Sony and Vizio
Moving forward, Mr. Foley will be implementing a go forward strategy which
should not only bolster shareholder confidence, but help propel the company into
even more significant accomplishments this quarter and entering into 2016.
Some of the short term goals include:
- Working with financial consultants to define and implement a recapitalization
plan that will substantially reduce debt early in 2016.
- Continue to expand the movie catalog including the addition of more major
studio catalogs, original content, live events, and exclusive offerings
- Expand exclusive vertical channel offerings such as Armada TV and the San
Francisco 49ers channels
- Continue to add new platforms and devices including Apple TV
- Identify acquisition targets in both the content and technology sectors to
accelerate growth
- Establish regular communications and updates to shareholders every month
- Work with new strategical consultants to help implement organizational,
staffing, communication, and technology strategies for continued growth.
With the holiday season at hand and the growth we are experiencing, it has been
very encouraging that our efforts are showing such progress. The number of 4K
TV’s being sold and projected 4K TV sales, will ensure that UltraFlix will be
available to an extremely large customer base, and the TV manufacturers have
continued to make sure their users know about the largest 4K content library we
have to offer.
Thank you for your patience during these extremely busy times, and we will be
communicating our progress as we move forward.
We want to hear from you so that we can regularly address any questions or
concerns, as well as provide updates on a regular basis. Please contact Dan
Wong at 858-381-5740 or dan@ntek.com
Jeffrey A. Foley - Chairman
The NanoTech Board of Directors wishes to provide a shareholder update
regarding corporate reorganization, business summary, and forward looking
improvements planned for the coming months. As many shareholders have
recently communicated, the board is equally disappointed with the current price
per share and market valuation especially during this unprecedented time of
growth for the company. We are confident in the future of the company and the
success that will return shareholder value.
Effective immediately, the board is announcing the departure of Peter Riordan as
CEO. Chairman Jeff Foley will act as interim-CEO and lead the efforts, to affect
several changes in operations including a search for a new CEO. Mr. Foley will
immediately implement an improved communications strategy with the board, the
shareholders, users and the media. We thank Mr. Riordan and wish him well in
his future business ventures.
The current valuation is not indicative of the actual business operations and the
many major accomplishments the company has experienced with its flagship
UltraFlix network in the past year including:
- Releasing support for several new high profile hardware platforms
- Being a featured app on Roku and Sony TV's
- Increasing the library offering by 4 times including major studio offerings
increasing in the past year from 10 titles to over 1,000 titles
- Establishing exclusive distribution of 4K Ultra HD Movie Offerings from Major
Studios including several new releases such as Terminator Genisys
- Releasing original content with major partners such as the San Francisco 49ers
- Customer base growth over 1000% including a recent 10 times month over
month growth during the past 2 quarters
- Establishing UltraFlix as the source for the best quality versions of any movies
available by any consumer network
- Being featured in store promotions with major brands including Sony and Vizio
Moving forward, Mr. Foley will be implementing a go forward strategy which
should not only bolster shareholder confidence, but help propel the company into
even more significant accomplishments this quarter and entering into 2016.
Some of the short term goals include:
- Working with financial consultants to define and implement a recapitalization
plan that will substantially reduce debt early in 2016.
- Continue to expand the movie catalog including the addition of more major
studio catalogs, original content, live events, and exclusive offerings
- Expand exclusive vertical channel offerings such as Armada TV and the San
Francisco 49ers channels
- Continue to add new platforms and devices including Apple TV
- Identify acquisition targets in both the content and technology sectors to
accelerate growth
- Establish regular communications and updates to shareholders every month
- Work with new strategical consultants to help implement organizational,
staffing, communication, and technology strategies for continued growth.
With the holiday season at hand and the growth we are experiencing, it has been
very encouraging that our efforts are showing such progress. The number of 4K
TV’s being sold and projected 4K TV sales, will ensure that UltraFlix will be
available to an extremely large customer base, and the TV manufacturers have
continued to make sure their users know about the largest 4K content library we
have to offer.
Thank you for your patience during these extremely busy times, and we will be
communicating our progress as we move forward.
We want to hear from you so that we can regularly address any questions or
concerns, as well as provide updates on a regular basis. Please contact Dan
Wong at 858-381-5740 or dan@ntek.com
Jeffrey A. Foley - Chairman
