Forbes says stay away from NPCT!
forbes.com
3) NanoPierce Technologies
This one is traded on the OTC bulletin board. It has nearly doubled since January. My advice: Stay far, far away from this one. In April 2001, the company initiated a lawsuit claiming a slew of promoters were fraudulently manipulating the price of its stock.
The company operates out of Germany, but has corporate offices in Denver, Colo. Denver has been a hot bed for penny-stock hustlers for three decades. It is not surprising that the junk-stock crowd is latching on to nanotechnology. NanoPierce was originally incorporated in 1996 as Sunlight Systems and was also known as Mendell-Denver. The company currently has negative cash flow from operations, and the bulk of its revenue was from a German division--which sells consulting services and software. Revenue was $103,000 for the 12 months ending last December, yet its stock, at a price of $1.05, has a market cap of over $55 million.
NanoPierce has nothing to do with nanotechnology. Its technology revolves around what it calls NCS, NanoPierce Connection System. At its essence, NCS creates electronic connections between the microscale and the macroscale on circuitboards. It hopes to apply the process to smart-card applications. |
