chirodoc and Aaron, I have just returned from a birthday party of a 50 year old friend who has recently bought a house on a cliff overlooking the Santa Cruz beach. He became extremely rich off of a High-Tech IPO several years ago (heard of CISCO?). In addition to buying a house on the beachfront, he bought the neighbouring houses too just to have some more privacy and as guest quarters.I kidded him saying that if I win the lottery, I shall take one of those houses off of his hands. Well that was off the topic here.
FNTN so far has been an extremely quiet company. Siemens Pyramid (yes , a subsidiary of Siemens ) had announced a year ago that they will build the systems for Financial Intranet and since then, there had been such a paucity of news, that FNTN had become, excuse my expression here, a very tired stock. No real operations, no real earnings but a lot of WAIT, WAIT and WAIT. Even their offices in New York did not have their location listed anywhere. It seemed very risky to invest in them.
Just the events of recent weeks showing that they had committed to a physical location (Ardsley , N.Y.), an actual address and availability of their President on the phone, has relaxed the investors. The stock over the last 2 years had bled all the way down from $5 plus to a low of 0.13 and it took nerves of steel to hold on to it. The investors here searched the internet for any clues to their doing any work for the company. Finally the pieces started falling in place. The few employees ( I guess about 6) had been working very hard and had produced tangible results in association with Siemens. They announced unaudited results showing a loss of 2 cents per share and seem to be getting things ready for showing possibly by the end of July. The other threads under "$5 and Under" carry about 2500 messages some of which were noticeably indicative of a lot of background activity going on with this company, of late. We understand now, from various messages by the management to some of us(myself included) and from some news releases that this company is going to be visible with their new web-pages and products very soon. Last week, "Tomato Man" visited the company and posted his messages after the markets closed on Thursday so next Monday is another day of anticipation for the stock to make an upmove.
People on this thread, to the last person, seem to have fairly high hopes that this stock will gain unprecedented momentum. AT least one electronic newletter that circulates privately, has been recommending the stock as "the most undervalued asset in the market". The stock is literally unknown except to the threaders here and people who lurk on these FNTN threads ( There are 4 such threads - just do an SI search on FNTN and you will see them).
The www.fntn.com is old web page that was put up by the company as a statement of what they were upto and is expected to be replaced soon by a more professional web page. But the thrust of the company is very broad because "customizable intranets" are relatively new and in demand. I work with the one at H-P myself and like it. Smaller companies dont seem to have the resources to build their own from scratch and may become FNTN customers.
The wraps are NOT OFF of the company's products and the stock is a speculative investments in that regard. That is why when we found even an approval by FCC of their intended services on the internet, we nourished our hopes about the company. When it actually releases its products and there are signs of market acceptance, the stock will hardly be kept down to current prices given even the most dire circumstances. Yes you do need to do some DD before you invest. My mind to invest was made after a lot of deductive reasoning and I cannot advise you to follow my instincts or anyone else's on this thread. But if you have specific questions, please lay them out and number them and several folks here will gladly try to answer them.
It is still a concept stock with 16 million shares outstanding, 4 million of which are investment stock. It has been estimated that SI members and lurkers own most of the float of which over 5M has been privately reported to me (there is no independent confirmation of that is available, it is the results of some polls run on the other thread and the poll is also reported on this thread now). |
