ProTek Capital Releases Shareholders Updates
Jan 04, 2013 (Close-Up Media via COMTEX) --
ProTek Capital announced Shareholders updates and recent developments.
In a release dated Dec. 29, the Company said the management for ProTek Capital, Inc., filed to re domicile the company to Wyoming. Therefore saving on tremendous expenses of fees and filings with the current Nevada state. As part of preparation for the 2013 season and restructuring of ProTek, the company will open a New Software Development and Marketing office in Nashville. This is in anticipation of closing the Legal Clicks dot Com deal. In addition, ProTek will also have presence at current sister companies locations in Dallas Texas, New York and Florida.
The company is in the final stages of negotiating a funding agreement that will facilitate a completion of several acquisitions.
"We are very picky as to what kind of a deal we will entertain. My group is used to fund our own deals, as we have here with ProTek. However, as we proceed with high end acquisitions, we will seek help with funding groups that we know and trust. We are working with a very reputable group, that will help us achieve these ambitious goals without the typical 'toxic' or Death Spiral financings that is usually associated with Microcap companies and acquisitions. This will allow us to focus on fundamentals such as revenues, product development, earnings per share and EBITDA that will get ProTek a multiple that is indicative to a high tech and software development company. This will be combined with several already existing public companies that are in need of additional software and technology upgrades. These companies already agreed on the co-production deals, so the outlook for 2013 is starting to look very positive for ProTek Capital, Inc.," said Edward Vakser, interim CEO of ProTek.
ProTek Capital, Inc., has been recently acquired by a new investment group. The new investors implemented a new business plan that would be fulfilled by new management and a newly appointed board.
The recent developments in ProTek Capital, Inc., has prompted this management to release a shareholders update and a recap of recent developments.
The management of ProTek will implement a monthly Shareholders Updates routine.
"Along with the normal set of disclosures, significant events and Press Releases, the management will do a monthly Press Release to maintain an information and disclosure flow for our shareholders. We feel that the ProTek Capital in its past form has created a great following among the investment community and our management desires to honor and respect their loyalty to the company. We realized that as we took over and implemented the new business concepts and plans, the investors may speculate and have the wrong ideas about our intent and plans. So, as the interim CEO and a board representative, I wanted to assure that there are certain corporate actions that will not take place. For example, the current interim management as well as the newly assigned board of directors are not contemplating nor consider implementing and reverse stock split. However, we are implementing an aggressive buy back program due to the fact that in our current management opinion, ProTek stock is extremely underpriced and undervalued. Nor are we considering any sort of toxic and/or convertible debenture financing. We feel that since we are self funding group, we can grow and prosper with the current loyal and supportive shareholders," said Vakser.
The Company has signed a letter of intent with Superstar Management Group, Inc., a sports and entertainment Management Company. The letter of intent states that ProTek Capital would acquire a 100 percent ownership in Superstar Management Group in exchange for restricted shares in the Company.
Superstar Management group was founded by Barry Mezey.
"We are excited about the possibility of being acquired by ProTek Capital, Inc. We feel that ProTek Capital will provide the management and support that will enable Superstar Management Group to help our current client base move to the next level, while having the wherewithal to expand on the number of clients we represent," said Mezey.
"We are accumulating companies that have synergies and can be vertically integrated between their product offerings and services. ProTek is poised to create Technology Driven Services and product offerings that will enable us to create a very unique hybrid of a company. We will also utilize the products and services of our current subsidiaries' and sister companies to provide services for the new acquisitions and their talent roster," said Vakser.
ProTek Capital, Inc. announced that the Company has signed an acquisition agreement with Legal Clicks dot com.
LegalClicks is a proprietary pay-per-click ad network specifically for legal professionals. LegalClicks offers lawyers the ability to drive web traffic to their firm by using a bid based platform designed to take the hassle and confusion out of online marketing.
"We are extremely excited to partner up with Legal Clicks, not only is this a premier company in their own marketing space, but they represent a great beginning for ProTek capital's acquisition path. We, at ProTek Capital represent a group of investors and software developers, who are interested in building a software conglomerate. ProTek is targeting a high end and very specific software solutions and companies that will utilize the public social and marketing media," said Vakser.
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