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ProTek Capital, Inc. Shareholders updates outlook for 2013
Company in Negotiations to Acquire Legal Clicks dot Com and Superstar Management Group, Inc.
By: PR Newswire
Dec. 29, 2012 01:26 PM
DALLAS, Dec. 29, 2012 /PRNewswire/ -- ProTek Capital, Inc. (OTCPK: PRPM) is pleased to announce Shareholders updates and recent developments.
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.," stated 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," stated Edward Vakser, Chairman/CEO of ProTek Capital, Inc.
To further recap of the company's current actions:
The Company has signed a letter of intent with Superstar Management Group, Inc., a boutique sports and entertainment Management Company that provides the representation that is given by a large agency in terms of image, and industry power. The letter of intent states that ProTek Capital would acquire a hundred percent ownership in Superstar Management Group in exchange for restricted shares in the Company.
Superstar Management group was founded by Mr. Barry Mezey in 2007, and the company has been able to attain global recognition as a leader in strategically innovative marketing, management, media, event, and sponsorship services in the sports and entertainment industry. Superstar Management Group currently represents athletes, leagues, and entertainers in a variety of areas such as motor sports, tennis, sailing, soccer, football, and country music, amongst other areas. Superstar Management Group works attentively with their clients in order to create unique and unparalleled brand identity. Some of Superstar Management Group's clients' both past and present include Leonard Marshall, Tim Hardaway, The Tim Hardaway Foundation, The Offense-Defense All American Bowl, Liga de Quito, Joey Licata, Jr., Thomas Vernhes, Steven Goldstein, Tommy Dalton, Ksenia Pervak and Sam Harrison.
"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," stated Barry Mezey, CEO of Superstar Management Group, Inc.
"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," stated Edward Vakser, CEO of ProTek Capital, Inc.
Further recap of recent activities:
ProTek Capital, Inc. is pleased to announce that the Company has signed an acquisition agreement with Legal Clicks dot com LLC.
LegalClicks is the world's first and only proprietary pay-per-click ad network specifically for legal professionals. LegalClicks offers today's lawyer 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. LegalClicks matches consumers who have expressed an interest in legal services with corresponding lawyers in their area. By allowing legal professionals to target prospective clients the LegalClicks platform dramatically improves the ROI of their customers' online marketing spend. www.legalclicks.com
"We are extremely excited to partner up with Legal Clicks LLC, 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," stated Edward Vakser, CEO of ProTek Capital, Inc.
About ProTek Capital, Inc.:
ProTek Capital, Inc., www.protekcapital.com, is organized and focused on funding and acquisitions of software and mixed media companies. Specifically, focused in the social media and entertainment industries. ProTek Capital is restructuring its current board and management in order to accommodate running a software and intellectual properties public company. Our new staff represents a group of managers,agents, designers, marketing professionals and software developers. Each new acquisition is also targeted to service and support several public companies with needs and issues that will be easily resolved by multiple "in-house" services and product offerings. Our current subsidiary www.acutesys.com is a perfect example of cross platform synergy between all the acquisitions and sister companies. Acutesys will offer its product and services to all of ProTek's clients and acquisitions.
Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.
SOURCE ProTek Capital, Inc.
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