Bill,
With all due respect, I just can not sit back and listen to the comparison of FNTN (which I'm long and will stay long) and the other internet stocks.
Once again, using your example, I point out that Yahoo CURRENTLY has 6,900,000 shares in their float (even AFTER the splits you referred to).
I maintain that there is simply to much stock floating around in the public hands for FNTN to be compared to Yahoo, Infoseek, or any of the others.
IMO, as I have stated so many times before, the Board of Directors needs to reduce the size of the float by declaring a stock byback program and carrying through with it. Considering the amount of stock floating around, does anyone truly expect FNTN to split 2:1 at anytime in the future? Much less split two or three additional time! Can you imagine what the price would be in there were 22 million shares floating around and people trading them simply because they needed the cash to pay the rent or buy bread? There would always be someone willing sell at the market bid and, for that reason, the price would never reach the heights we all want and expect. Hell, we see the same thing happening day after day right now. (Back ground for new readers: current FNTN float is about 11 million shares.)
Yes, I want to see FNTN become a **Reporting Company** and yes, I want to see the price increase to $4.00 and up. However, I will say it one more time, IMO, there has simply been to much currency (stock) printed by this company for it to be compared to the other internet companies. For that reason, FNTN has a very hard row to hoe. And, news, rumors, or even the new web site is not going to make it that much easier.
What is the prime reason anything looses its value or remains at a low price? There is to much of it - be that money, manufactured product, or stock floating around in the hands of the public!
Jim Porter |
