Fred re: " i have heard several times in the past that FNTN 'will become a fully reporting company and be listed on NASDAQ within 3 months'
If you read that prediction on this thread, it was either somebody's error in understanding the process or else an error of wording. I believe that the earliest point in time that NASDAQ smallcap listing could take place would be the beginning of next year. As you probably know, NASDAQ listing is a separate animal from being a reporting company - however, I agree with Jim Wilkinson's comments about the fireworks being timed around basic reporting status. No institutional investment concern will touch FNTN until they are reporting. I have been saying that since last year when a VP friend at Smith Barney explained the process. For one thing - non-reporting companies are too risky for a major brokerage. Additionally, if a large brokerage bought FNTN shares for their clients, that broker could accidentally end up owning the company - and that's not the business, nor the desire of a brokerage.
Once FNTN is both reporting and listed there will be enough shares at a high enough share value to prevent accidental ownership by any one brokerage.
Finally, from the point of view of FNTN, I guarantee that they would rather not show up on the investment community radar until they are reporting. To announce great accomplishments in the absence of having reporting status would be a terrible waste - the proverbial tree falling in the forest.
So IMO, Jim's safe in his 60 day prediction. IF those business successes are in place now, or at reporting time, FNTN will time the release of positive news to coincide with its reporting status. My only disagreement with Jim is over the amount of days before FNTN actually starts to take off. Mid July is the predicted time period for FNTN to reach reporting status. That's less than 40 days from now. I believe that the stock will begin to climb from its current levels in anticipation of that event, and that other pending and positive news will be released to coincide with reporting news. In short, I'll go on record for 45 days as the timeframe for FNTN's major move. Of course, if the SEC demands another round or two of paperwork from FNTN, both Jim and I will have lost that bet. Either way, the smart money will still be on FNTN. If they can pull it off with the current filing, all the more power to 'em.
regards from your racing pal,
Wally |
