$NTEK from shareholder meeting: Share buyback. "I
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$NTEK from shareholder meeting: Share buyback.
"In the next 90 days we plan on buying back about 68 million shares. We have this negotiation now to be done by hopefully...I hope the next 3-4 weeks. Before the fiscal year ends which is June 30th, that same time...we should have a pretty strong June 30th financials. So wer'e doing great...."
It's dipping today, imo, to take out money that is now settling today from Monday when a lot of amateurs got in hoping for a quick flip. I strongly believe it closes at .03 or goes over .03 tomorrow.
The company wants to buy back the shares before June because, it seems, they expect the PPS to be way up after June ends. This is a no-brainer long term hold with great flip potential if bought on this dip, imo.
It is putting to market one of only THREE 4k players to be out before Christmas. It will also be the lowest cost one by far, and the player with the most features, compatibility, and extras.
Not to mention their own technology that can stream 4k perfectly in under 10Mbit connection. That alone is huge even without the product simply for licensing.
Slam dunk.
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