Here's a stinky AMEX stock: FCM
I don't know if it was ever on the BB, but it looks like it belongs there. I shorted some this a.m.
Here's a recent story from stockdetective:
Franklin Telecom's (AMEX: FCM) future might be as bright as it claims, but the company's MO for a little good press makes us highly suspicious.
Last week, Franklin Telecom put out a press release touting its inclusion in a "case study" in Fortune Magazine that examined the next generation of voice servers. Now if you simply read Franklin Telecom's press release, you might think that it was objectively included in a Fortune write up that included Lucent Technologies and Sun Microsystems. But if you actually saw the magazine, and paid even an iota of attention, you would see that Franklin Telecom was actually part of a paid advertising section. Big difference.
The company's share price spiked shortly after the positive press, rising by almost half to $3.125 in one day.
Franklin Telecom has been in business for almost 20 years, but only went public in 1997, according to SEC documents. The company's SEC filings raise some other points that might give investors pause. Until recently, the company's main products were LAN and WAN computer products. But when that market began to thin out, Franklin shifted focus to voice servers and - what else - Internet service.
financialweb.com
They file with the SEC. The link below is the latest Q, which shows 25 M shares out, and shareholders equity of $5.5 M, giving this stock a book value of about $0.2. The co. has lost tons of money, with an accumulated deficit of $25 M over its history of operations.
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