DALLAS, Dec. 19, 2012 /PRNewswire/ -- ProTek Capital, Inc. (OTCPK: PRPM) is pleased to announce Shareholders updates and recent developments.
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," stated Edward Vakser, Chairman/CEO of ProTek Capital Inc.To further recap of the company's current actions: