NanoTech Entertainment, Inc. (OTCMKTS:NTEK) Gains 118% In 30 Days


Dallas, Texas 10/29/2013 (Financialstrend) – NanoTech Entertainment, Inc. (OTCMKTS:NTEK) is an $2.78 million market capitalized software solution company which concentrates on developing “gaming technology” which goes into operating gambling and gaming machines in casinos in U.S. It was operating under a company name Aldar Group, Inc before it acquired NanoTech in 2009. Since then the gaming software development company has acquired two other companies “Clear Memories, Inc. of Napa California and Worldwide Global Entertainment, a developer of pre-packaged software”.

During trading on October 28, the stock gained close to 2.8% of its market value compared to its previous day close. It was trading at $0.175 per share which translates to a 1.68% dip on its 52 week highest valuation.  This benchmark of $0.1782 had been set by the stock on October 28. The increase in stock value was also coupled with huge increase in trading volumes. The stock saw 10.2 million shares trade hands during October 28, where as its 65 day daily trading average was around 5.6 million  transactions per day.

The spurt in the stock value was on a day which saw the Dow Jones come down by 0.01% and the consumer services index drop in value by 0.09%. The increased investor interest in the stock was due to steady results from its 3Q operations. The company had recorded gross profits of $1.19 million in comparison to $0.56 million from its 2Q operations. The jump in gross profit was overshadowed by decrease in operating income.  It came in $79000 in 3Q . In comparison, its 2Q net income came in at $173,000. This stock has a total of 765 million shares outstanding. In the past 30 days the stock has appreciated by close to 118% in value. Its share holders would be hoping that the momentum built up by the company in increasing its revenue ever quarter will continue further.