FDKP . . . do you have the link? All I can find is this:
quote.bloomberg.com
Finders Keepers Inc., Based in CEO's Condo, Gets
a Stock Boost
New York, July 21 (Bloomberg) -- Shares of Finders Keepers Inc., which
searches for abandoned bank accounts and other lost assets from an office in
its chief executive's Brooklyn condominium, have been among the top U.S.
performers this week.
It advanced from 26 cents on Monday to 1 3/4 at yesterday's close, boosting
the market value of its 11.55 million shares to $20.2 million. It traded as high
as 2 5/8 on Wednesday.
Chief Executive Devorah Zirkind referred questions about the rapid advance of
Finders Keepers stock to Alan Zazoff, an outside investor relations consultant.
``It's rumor-driven,'' said Zazoff, 53, a former stockbroker. He said there was
speculation on Internet chat sites that the company may soon announce a
10-for-1 stock split.
Yesterday, the company announced that its board of directors will meet over
the next 10 days to consider authorizing a stock split. Zirkind is the
company's only director.
Zazoff said his responsibilities include posting company news updates on
Raging Bull's Web site under the moniker Zazoff_Assoc. ``My job is to create
awareness,'' he said.
For a six month contract beginning last month, Finders Keepers paid him
$18,000 cash, as well as 40,000 shares and 500,000 five-year warrants to buy
the stock at 50 cents a share. At yesterday's closing price of 1 3/4, the
package was worth more than $700,000.
Charging for Web Site
Finders Keepers operates www.moneychest.com, a Web Site that charges
consumers $9.95 to search for missing assets. The charge is credited toward
the company's 5 percent to 15 percent share of any money recovered.
``We have a lot of happy customers,'' said Neal Fox, the CEO's husband and
the company's only other employee. He said Finders Keepers has signed
about 20,000 contracts to do searches. Revenue has been elusive so far
because it takes some states more than a year to process claims, Fox said.
The company, whose shares are traded on the OTC-Bulletin Board, has
racked up losses of $87,304 since it was founded in May, 1999.
CEO Zirkind, 28, started Finders Keepers after a stint in the sales and
collections department of a New York City cosmetics firm. She paid $8,510 for
her 10-million-share 87 percent stake in the company, according to the
company's annual report for 1999. That stake was worth about $17.5 million at
the close of trading yesterday.
IPO
Finders Keepers' September IPO raised $63,630. It sold 1.3 million shares to
32 investors in New York and Nevada at 5 cents each, adjusted for a 2-for-1
stock split on April 14. The buyers weren't long-term investors, said Fox.
``Most of them are long gone,'' he said.
Finders Keepers has competitors. One is National Unclaimed Property
Database, owned by Knowledge in Motion Inc. of Coral Gables, Florida. NUP
offers free searches on its site, and doesn't demand a cut of the user's found
property. Its Web site, www.nupd.com, is supported by advertising. Kim
Usiak, who started Knowledge in Motion in 1993, said he expects to sell
shares to the public in 2001.
Additional competitors include, www.webinfosearch.com, which offers free
searches, and www.fundsrecovery.com, which charges $39 for a search but
takes no share of any findings.
-- David Evans in Los Angeles (310) 910-8811 or at
davidevans@bloomberg.net or through the New York newsroom (212)
318-2300/dp/tm |
