Letter to Shareholders SAN JOSE, Calif., June 9
Post# of 96879
Posted On: 06/09/2016 4:59:04 PM
Letter to Shareholders
SAN JOSE, Calif., June 9, 2016
Dear NanoTech shareholders,
I wanted to provide an update on the business and the ongoing UltraFlix expansion. A few months ago we announced a strategic recapitalization plan that will help us fuel growth and expansion in the coming months and years while also providing significant improvements in our balance sheet, all greatly enhancing shareholder value.
Part of the plan is completing the reverse split we outlined previously. We have filed the action for the split with the state of Nevada. In the next few days our counsel will be submitting the amendments necessary to facilitate the split and applying for a new CUSIP for the post-split shares. Once those are completed we will be immediately submitting our application to FINRA for review. We anticipate the review process will take anywhere from 10 to 40 days. Once completed we will finalize the other pending agreements which will reduce our convertible notes payable by close to a million dollars and allow us to significantly reduce the number of shares needed in servicing debt moving forward. As we have been posting lately in our press releases UltraFlix continues to find a home on more and more platforms.
By the end of this year UltraFlix will be found on 95% of the 4K TV’S and set top boxes. With an ever expanding library, best in class visual quality and the lowest required bandwidth we are very excited about the product. We have hundreds of thousands of users, and are adding thousands more weekly as UltraFlix establishes itself as the go to network for 4K Ultra HD content. Stay tuned for more exciting news in the coming weeks.
SAN JOSE, Calif., June 9, 2016
Dear NanoTech shareholders,
I wanted to provide an update on the business and the ongoing UltraFlix expansion. A few months ago we announced a strategic recapitalization plan that will help us fuel growth and expansion in the coming months and years while also providing significant improvements in our balance sheet, all greatly enhancing shareholder value.
Part of the plan is completing the reverse split we outlined previously. We have filed the action for the split with the state of Nevada. In the next few days our counsel will be submitting the amendments necessary to facilitate the split and applying for a new CUSIP for the post-split shares. Once those are completed we will be immediately submitting our application to FINRA for review. We anticipate the review process will take anywhere from 10 to 40 days. Once completed we will finalize the other pending agreements which will reduce our convertible notes payable by close to a million dollars and allow us to significantly reduce the number of shares needed in servicing debt moving forward. As we have been posting lately in our press releases UltraFlix continues to find a home on more and more platforms.
By the end of this year UltraFlix will be found on 95% of the 4K TV’S and set top boxes. With an ever expanding library, best in class visual quality and the lowest required bandwidth we are very excited about the product. We have hundreds of thousands of users, and are adding thousands more weekly as UltraFlix establishes itself as the go to network for 4K Ultra HD content. Stay tuned for more exciting news in the coming weeks.
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