Industrial Nanotech Inc Announces Stock Dividend to Current Shareholders

Rhea-AI Summary

Industrial Nanotech, based in Broomfield, Colorado, has announced a 6.7% stock dividend for current shareholders, equating to shares based on their holdings as of January 5, 2022. This dividend aims to reward shareholders while the company executes a $1 million Regulation D offering to bolster its team and production capacity, particularly for its innovative product, TalkingPaint. The dividend distribution will occur within 30 days, pending final approvals. CEO Stuart Burchill emphasized the company's growth and the need for expanding resources to meet increasing demand and opportunities.

Positive

• Stock dividend of 6.7% to existing shareholders, enhancing loyalty and support.
• Plans to raise $1 million through Regulation D offering to expand operations and workforce.
• Focus on increasing production capacity for TalkingPaint to meet demand.

Negative

• Potential reliance on debt financing for factory purchase in 2022, which could impact cash flow.
• Dependency on timely approval from FINRA for stock dividend distribution.

BROOMFIELD, Colo., Jan. 6, 2022 /PRNewswire/ -- Industrial Nanotech Inc, (Pink Sheets: INTK). 

Today, Industrial Nanotech announced that it will be giving a common stock dividend to all current shareholders. The stock dividend will be an amount of shares equal to 6.7% of their existing holdings of the Company's common stock as of the close of OTC Markets yesterday, January 5, 2022. Fractional share amounts will be rounded up to the next integer (whole number). The stock dividend will be distributed in approximately 30 days, after the Company has completed the transition with their transfer agent from paper stock certificates to DWAC FAST and DRS and received approval from FINRA.

Stuart Burchill, CEO/CTO of Industrial Nanotech Inc. states, "The Company is obviously experiencing explosive growth as a result of the years of long hours and hard work that our team and our allies and associates and advisors have put in since 2016. It is also obvious that we need to add resources to our team in order to fully capitalize on the announced opportunities, as well as additional deals we will be announcing in the next few months and upcoming quarters."

Mr. Burchill continues, "Equally as important, we are distinctly aware that our approximately 3000 active and loyal shareholders stayed with us during the deal building period from 2016 to date and we appreciate that level of commitment to the Company. This granting of additional shares to existing shareholders is designed to minimize the impact to their current stock position and reward our high valued existing shareholders for their loyalty as we raise the funds needed to quickly recruit and add multiple highly qualified and very experienced experts to our roster, especially our logistics and operations team and accounting team. We need to expand our US office/warehouse space, establish a fully staffed office/warehouse facility in the EU, and ramp up production of our revolutionary new product, TalkingPaint (www.talkingpaint.com) to meet upcoming demand. The amount we intend to raise through a Regulation D offering is $1,000,000. At this moment in time, execution is everything and we need the talented experienced personnel added to our team and onboarded into our Company's operations as quickly as possible so that we can give our customers and our shareholders the best possible results from these opportunities."

Based on revenue and cash flow projections, the Company does not expect to raise any further funding through equity. The Company may use debt financing vehicles to purchase a factory in 2022, using the factory as collateral.

For additional information about the stock dividend or Reg D Offering, please email the Company at invest@industrial-nanotech.com.

About Industrial Nanotech, Inc.

Industrial Nanotech Inc. is a global nanoscience solutions and product development leader. See www.industrial-nanotech.com for more information.

Safe Harbor Statement

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise/update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

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SOURCE Industrial Nanotech, Inc.

FAQ

What is the stock dividend percentage for Industrial Nanotech (INTK)?

Industrial Nanotech announced a stock dividend of 6.7% for its current shareholders.

When will the stock dividend for INTK shareholders be distributed?

The stock dividend is expected to be distributed in approximately 30 days, pending final approvals.

What is the purpose of the Regulation D offering announced by Industrial Nanotech (INTK)?

The Regulation D offering aims to raise $1 million to enhance the company's team and ramp up production.

How does the stock dividend benefit existing shareholders of INTK?

The stock dividend rewards existing shareholders for their loyalty and minimizes the impact on their current stock position.

What product is Industrial Nanotech focusing on to meet increasing demand?

Industrial Nanotech is focusing on increasing production capacity for its product, TalkingPaint.