Alarms have been going off in my head for the past week, telling me that selling the stock right now for a handsome profit is exactly what I *should* be doing.
As I've said before, I'm inclined to trust Frank based on nothing more than the fact he's a computer geek at heart. However, as a relative newcomer to FTEL, I really have no *valid* reasons to trust management of this company. All I've seen of them since buying in have been a very late audit and one relatively insignificant release about Connect America.
Doesn't FTEL or their accounting firm realize that the lateness of the audit is either delaying or turning away PP investors?
The reasons I continue to hold this stock are:
1. Overall enthusiasm of a sizable percentage of their investors in this thread. I don't think I'd give this any credit with any other company.
2. My belief in the viability of FNET.
3. The hope that I'm going to see a tenfold increase on my currently relatively small investment. I'm greedy, and while the loss of every penny I've got in FTEL would be a major bummer, my family wouldn't lose weight over it.
4. Frank's recent statement that we'd see the audit and other positive news within two weeks.
The current lateness of the audit (and, to a lesser extent, that the other positive news isn't out yet) is negative enough to balance out the positive aspects enough that I'm simply maintaining my current position. If next week comes and goes with still no audit and no other positive news, then it'll be time for me to sell the stocks, forget about the PP, and move on.
Believe me, I've given this a lot of thought, and "Sell the stock, PERIOD" is not what seems the most prudent at this point. It's close, but not quite. There's a lot to be said for taking my profits now, in case this is another WORK in the making, and buying back in higher when things look better, but I consider it too close to call right now.
It's obvious that my (understandable) negative take on the no-show audit is not a subject that is very popular around here, so I'll just keep my mouth shut on the subject from this point forward, until such time I can either say "I told you so!" or "You guys were right. I should've trusted them all along." |
