Its not really the news we want to hear, but it is nice to see communication that specifically discusses 2 of the key issues we are all wondering about. In the shareholders letter; regarding the recent share increase and pending reverse split:
This program has taken longer than hoped for, and we have almost completed all of the steps to submit the reverse split. Unfortunately, we have some contractual obligations due in April requiring us to issue more shares before we can complete the recapitalization, requiring us to raise the AS one more time and issue some shares. We believe that the next move to the AS will be a reduction in conjunction with the reverse split, which will have a significant positive impact on the balance sheet, and in turn the value of the company.
There is so much potential with NTEK. I just hope we can get this R/S behind us so everyone knows where we stand. Then maybe things can begin to move forward.
$$$NTEK$$$
Cheers, judgesmails
This program has taken longer than hoped for, and we have almost completed all of the steps to submit the reverse split. Unfortunately, we have some contractual obligations due in April requiring us to issue more shares before we can complete the recapitalization, requiring us to raise the AS one more time and issue some shares. We believe that the next move to the AS will be a reduction in conjunction with the reverse split, which will have a significant positive impact on the balance sheet, and in turn the value of the company.
There is so much potential with NTEK. I just hope we can get this R/S behind us so everyone knows where we stand. Then maybe things can begin to move forward.
$$$NTEK$$$
Cheers, judgesmails
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