BROOMFIELD, Colo., June 01, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- Industrial Nanotech Inc., (Pink Sheets: INTK) a global nanoscience solutions and research leader, today announces a Finder’s Fee Program for shareholders. Industrial Nanotech, Inc. is formalizing its long-standing policy of giving shareholders a fee for every referral or lead that leads to new business opportunities for the company.
Under Industrial Nanotech’s Shareholder Finder’s Fee Program, shareholders will receive 5% of the first purchase by a referred customer and 2.5% on subsequent purchases.
Stuart Burchill, CEO of Industrial Nanotech, Inc. said: “We frequently receive leads and referrals from our loyal shareholders. We have always compensated them for their efforts on our behalf. The Finder’s Fee Program is designed to formalize this process and give recognition and appreciation to valued shareholders for their commitment to the company. At Industrial Nanotech, our goal is to provide an ongoing engagement model with our shareholders. The program gives shareholders an opportunity to get actively involved in the company and engage with management.”
Burchill pointed out that the average market benchmark for finder’s fees is 2.5% with no residual. In this instance, Industrial Nanotech, Inc. would pay a commission above the going rate and include a residual for every referral thereafter.
The rationale for paying a finder’s fee is that without the “finder” or “lead,” the parties would never have been introduced and the business transaction wouldn’t have taken place. The finder is compensated in much the same way that a commission is paid to other types of intermediaries between buyers and sellers.
The company’s stock buyback program also commences today. The stock buyback program will allow Industrial Nanotech, Inc. to repurchase shares of the Company’s common stock. The frequency and amount of the stock buyback will be determined by U.S. Securities and Exchange Commission (SEC) regulations and revenue. The decision to execute the stock buyback program in 2022 instead of 2023 is a result of the company’s financial performance data released on May 17 for the first quarter of 2022. Industrial Nanotech, Inc. posted a Q1 2022 quarterly revenue record of over $3 million, up 678% on the previous quarter (Dec. 31, 2021) of $385,793, and a net profit of $1,637,412, achieving the most positive quarter result ever recorded in the company’s history.
“As we move forward, we are raising our expectations for higher revenues and profits,” Burchill said. “Our purpose and strategy are clear. We are intensely forward focused on doubling our revenue in the second quarter of fiscal 2022 and repeating that pattern in Q3 and Q4 of 2022. 2022 is the year of turning revenue opportunities into revenues realized. Although we are experiencing substantial growth, we believe this is only the beginning of a significant revenue burst over the next several years.”
Industrial Nanotech, Inc. has three subsidiaries – Syneffex, its industrial coating brand; Anaconda Insulation, which provides intelligent thermal insulation; and TalkingPaints, the Company’s intelligent coating product line.
Shareholders can email referrals to: iownintk@industrial-nanotech.com
About Industrial Nanotech, Inc.
Industrial Nanotech, Inc. is a global nanoscience solution and product development leader. See www.industrial-nanotech.com for more information.
www.syneffex.com
www.talkingpaint.com
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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