There have been a number of trades over a period of time. At a penny, 8 million shares is only 80,000 dollars, but still, I wonder what is going on. More buyback? News of some kind?
On stocks like this I don't thing that support and resistance means much. It's not actively enough traded. I'm wondering if this has something to do with financing. If we get financing on either project that would move the stock, I don't think anything else will.
I think today was ex-dividend day. The market always marks the stock down by the dividend amount on the ex day. It's down a little more but 12 cents of that is the dividend.
I assume you're talking about the 10q which was released on the 12th. There was not too much new. They didn't mention the drilling deadline of July 25th which I am assuming means that they are getting an extension at some point. If they had lost the block they would have had to mention it. They said they did buy back 1,340.000 shares and that they stopped when they had non-public info to disclose. I assume from the last two days price action that they are buying again. The rehab closing is working it's way through. They got a company called TF which is some kind of holding company for stock in the operator but the operator's stock is not in that company yet. At least that's the way I understand it. That part is a bit confusing, so you might want to read it again. I am still confident it will close although I don't know when.
The volume was low on the upswing so I doubt if it was news. I think what we are seeing is lack of volume. on both sides. There are no ready buyers so when someone wants to sell for any reason, the price drops. I don't think it's manipulation, just thin summer and no news. If it continues, then maybe.
It was on PR web and otc markets but didn't get on the company's website according to an email I received from Fran today. It should be up later today. go to otc markets, then search intk then on the left, "press"
I am on the company's email list and got an email as most of you probably did also.
The stock price has almost completely recovered despite the weak market today. I haven't seen any broker's reports but I suspect, having listened to the call, that when they come out they will be positive.
I bought some yesterday too, although the 9000 buy wasn't me, LOL. Mine was far more pedestrian. It's interesting that someone bought Jan 15 9 calls. They must think the turnaround in price will be quick. I went for 2016s, thinking that with the production and revenue continuing the price will recover by then.
The company says it is because of changes at the auditing firm, not about any irregularities at INTK.
This is the release.
Industrial Nanotech, Inc. to Publish PCAOB Audited Financials
NAPLES, Fla., July 31, 2014 (PRWEB) -- Industrial Nanotech, Inc. (OTC-PINK: INTK), an emerging global leader in nanotechnology based energy saving solutions, today announced that Company expects to publish audited financials for the full fiscal years 2012, 2013 and the first and second quarters of 2014 by mid September, 2014.
The Company had previously announced that it expected to publish audited financials by July 31st, 2014. The delay is caused primarily by senior management changes at the auditing firm and the resulting change in personnel conducting the audit. The delay is not due to any irregularities in the Company’s accounting.
Industrial Nanotech Inc. is a global nanoscience solutions and research leader. The Company develops and commercializes new and innovative applications for sustainable nanotechnology which are sold worldwide, including Nansulate(R) thermal insulation and asset protection coatings, which provide energy savings, thermal insulation, corrosion resistance, prevention of CUI, moisture resistance, chemical resistance, and other protective benefits. The coatings are low VOC, water-based, and sustainable. You can learn more about Nansulate coatings for industry at
Additional information about the company and its products can be found at and
you can find it at their website
The company distributes about 75% of it's distributible earnings, 48 cents a year. So, if you add one third to that, or 16 cents, you get 64 cents. If you take the PE of that you get 12.5. Current S&P PE is about 19 but BGCP uses some different accounting so the market may think about it differently. All in all it isn't out of line and may be somewhat undervalued, but not egregiously so. The difference is there is real room for growth with the money from Nasdaq.
Actually only one expires this year. The other expires in July of 2016. There was talk of an extension, we will see.
There has been a concerted effort to bash this stock on this board since I have been here. You're right, if someone were that disheartened they would have moved on before now. It doesn't make much sense unless someone is accumulating, but no one seems to be accumulating much. If the audited financials come out and someone dumps on it, that will confirm to me that someone is attacking the stock.
I just got the short form proxy and they are asking approval for a 1 for 10 reverse split. There are only two reasons to do this, to get on a senior exchange, which requires at least a 2 dollar share price and that price must be maintained. Or, two, to raise more money. I suspect the first and it might be good news because they expect the price to go up. We'll see.
There is always a reason to think otherwise. It might be bad news, BUT, there was only 330,000 shares traded, or 16,500 dollars. Not a wholesale run to the exits. Remember the price was sitting at around 5 cents a share when MNP announced the stock buyback. It then jumped to 8 and settled around 7. The quarterly is due by the end of the month which means that MNP is in a quiet period I think, so they may not be able to buy back during this period. Not sure about that but it's a possibility.
As to what the bad news might be if there is any, they are due to start drilling by July 25th. My guess is this is almost certain to be delayed. They haven't announced a partner or investor or that a rig is on site. This is not that bad, if the delay is reasonable. The question I have is the rehab. If they can move that beyond what they are apparently doing now, reviewing what they have and possibly some seismic etc., and actually get some cash flow from it in the next year, then the delay in the exploration might be a good thing. With some cash flow, they might have to give up less of the exploration.
As to the truly horrible you can fill that in yourself, but remember, it's only 16,500 sold which means no big sale.
It may be a good thing in the long run. The US has to stop trying to pick winners and losers. Sunnis shouldn't rule Shiites, but that doesn't mean the Shiites should rule Sunnis. Iraq never was a country to begin with. Let them work it out. Let it split up. Kurdistan, Sunnistan and Shistan. JMO. Meanwhile oil prices go up.
Yep, still here. I think this is going to be a slow mover, probably have to wait for quarterlies. But, on the other hand, it is a much better bet now than it was in the past. They have two products now and are building distribution. For me, this one is just a wait it out bet.