ProTek Capital, Inc. Signs LOI to Acquire Company With Approximately $1 Million in Annual Revenue in 1st Step of Strategy to Rapidly Acquire $10 Million in Annual Revenue
VALLEY COTTAGE, N.Y., April 25, 2011 /PRNewswire/ -- ProTek Capital, Inc. (Pinksheets: PRPM) today announced a non-binding letter of intent (LOI) to acquire an operating company with approximately $1 million in annual revenue. The target acquisition is headquartered in Texas and is expected to be the first in a series of acquisitions marking an update and expansion of ProTek Capital existing business plan.
The objective of ProTek is to provide the best possible risk-return value for all of its shareholders by making direct investments into or outright purchases of foreign and domestic private and public software companies.
ProTek Capital recently increased its authorized shares from 2 Billion to 4 Billion as part of the expansion business plan..
ProTek currently owns both non-operating interests and one operating interest in software technology operations in addition to the anticipated acquisition announced today. ProTek is updating its investment focus to concentrate on businesses within developing economies located within the Caribbean and Gulf of Mexico region. ProTek is expanding its investment focus beyond software companies to include any early stage businesses investment with high growth potential. .
About ProTek Capital, Inc.
ProTek Capital, Inc. is a corporation with offices located in the United States and United Kingdom, whose focus is to invest in or acquire software companies that are privately held or traded on the public markets. The objective of ProTek Capital, Inc. is to provide the best possible risk-return value for all of its shareholders by making direct investments or outright purchases into foreign and domestic private and public software companies. To learn more about ProTek Capital, Inc., please visit: http://www.protekcapital.com/
Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements'' within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
SOURCE ProTek Capital, Inc.