NEW YORK, June 14, 2011 /PRNewswire/ -- ProTek Capital,
Inc. (Pinksheets: PRPM) today confirmed the recently announced
non-binding letter of intent (LOI) to acquire an operating company
with approximately $1 million in
annual revenue remains on track. The definitive acquisition
agreement was expected to be completed by the end of May. The
Company confirms that while the final transaction is behind
schedule, that no issue is anticipated to stand in the way of the
acquisition being ultimately consummated.
This acquisition is part of an overall expanded and updated
business strategy. 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 business investments with high growth potential.
This pending acquisition is the first in a series of
acquisitions anticipated to rapidly bring approximately
$10 million in annual revenue to
ProTek.
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/
Safe Harbor:
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.
Contact
ProTek Capital, Inc.
Investor Relations
info@protekcapital.com
SOURCE ProTek Capital, Inc.