NuTek Wants Small-Cap Listing
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NuTek Inc. said it plans to apply for listing on the Nasdaq Small-Cap market during the first week of July, after the end of the second quarter.
A spokesman for the Lake Forest company said the application should be successful in light of three recent acquisitions.
NuTek said it bought Winner Circle Plastics Inc., S.R.C. International Inc. and Crystal Resources. Terms weren’t disclosed.
Winner Circle’s primary assets are the patents and designs for a product called Full Service Hands Free Serving System, a dish washer-safe buffet plate.
S.R.C. International markets and distributes SuperGlide Rail Coverings to the dry cleaning and garment care industry.
The Crystal Resources acquisition will add 133 new oil leases, with oil reserves of 2 million barrels. The addition of Crystal Resources will also increase the company’s oil assets by roughly $1 million.
NuTek, which trades over the counter, is a holding company involved in oil and gas production in Texas. It is not related to Pollution Research & Control Corp.’s Nutek Inc. unit.
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