-
If you are a current long-term stockholder of shares of Sono-Tek Corporation (OTCMKTS:SOTK), you have certain options and you should contact the Shareholders Foundation, Inc.
-
To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
August 13, 2013 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares of Sono-Tek Corporation (OTCMKTS:SOTK) was announced concerning whether certain Sono-Tek and directors possibly breached their fiduciary duties in connection with certain statements.
The investigation by a law firm concerns whether certain Sono-Tek officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders approval for an amendment to the Companys 2013 Stock Incentive Plan.
According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of Sono-Tek Corporation
Sono-Tek Corporation reported that its Total Revenue declined from $12.05 million for the 12 months period that ended on Feb. 29, 2012 to $9.54 million for the 12 months period that ended on Feb. 28, 2013 and that its respective Net Income declined from $1.43 million to $0.13 million.
Shares of Sono-Tek Corporation (OTCMKTS:SOTK) declined from $1.45 per share in July 2011 to $0.48 per share in January 2013.
On August 12, 2013, OCTMKTS:SOTK shares closed at $0.76 per share.
