NEIK is a mid to long term investment, with enough short term catalysts going forward. Today we're at around 0.02, and in the following months we gradually going higher! There wasn't much reaction to the news release, which is odd because there were lots of positives in the release:
- As announced on August 23, 2012, Echotec Sonar, a division of Northstar Electronics, plans to launch its 3D High Definition Sonar before the end of 2012.
- Echotec Sonar is positioned to sell to the cash rich commercial fishing industry in more than 6 countries. Having gained strong interest from distributors currently selling to the worlds' pelagic fishing fleets, Echotec is projecting rapid sales growth as word spreads.
- "By the end of the first year, we anticipate that the Echotec division of Northstar will be in a cash positive position, allowing us to add the defense, Homeland Security, and commercial shipping markets to our future customer base," said Dr. Wilson Russell, CEO of Northstar Electronics.
- Echotec has recently been contacted by three European dealers interested in providing value added reselling capabilities and representation of the new Echotec system in their respective countries.
- Echotec plans to expand its operation using three teams; one for military configurations, one for the commercial security market, and one for the commercial fishing markets. We are currently reviewing Canadian and American ISO9001 certified manufacturers to find the best fit for our designs. We are also working to achieve high manufacturing cost efficiencies while ensuring the highest product quality.
- Northstar plans to begin the process of re-obtaining its OTCQB listing status. We expect to file, soon, with the SEC, an amendment to the audited financials along with an auditor report and continue, thereafter, to submit annual and quarterly financial statements on time to maintain our SEC reporting status indefinitely.
- Transparency has been and will continue to be at the forefront of our priorities as we achieve and maintain revenues and profitability through the development of Echotec's business and through the expected next acquisition.