After-Hours Pumps for Spectral Capital Corp. (OTCMKTS:FCCN)
A pumper’s work is never done, as busybody promoters proved once again yesterday, sending paid email alerts for Spectral Capital Corp. (OTCMKTS:FCCN) in the evening hours.
The new touts come after over a month of silence from promoters, with the last organized campaign of FCCN promotions taking place in early March. The focus-fire of pump emails on March 8 sent FCCN crashing nearly 50% on the same day, then a sustained barrage of more pumps over the next few days saw it climb back and regain some of its ground.
Last evening’s promos are touting FCCN against $40 thousand in compensation, paid out by Tribeca Investments Ltd., the Belize promoter who is probably well-known to those who monitor penny stock pumps. The tout of the email is the usual promise of future success, based on the fact that the company strives for success in a lucrative market sector. The company’s filings state that it is engaged in the business of “identification, acquisition … of technology that has the potential to transform existing industries”, whatever that may mean.
The company’s filings reflect a financial picture that is not particularly bright. The latest report available is a 10-K for fiscal 2012 and it lists the following figures:
- $84 thousand in cash
- $182 thousand in yearly revenue
- $2.7 million in yearly net loss
FCCN managed to burn through about 90% of its cash over 2012 and even though it had no revenues for 2011, it logged bigger net loss in 2012. The $2.6 million in stock-based compensation for awards granted in 2010 and ‘recognized’ in 2012 makes up the majority of the yearly expenses. It would seem FCCN values its employees and management a whole lot, considering the healthy stock awards handed out so generously.
Awesome Stocks who took part in yesterday’s round of touts for FCCN, recently pumped Axxess Unlimited, Inc. (OTCMKTS:AXXU) even though the stock had just crashed. Despite the pumps, AXXU went to close red four days in a row and drop another 40%. Awesome Stocks pocketed $70 thousand for offering their subscribers this disaster.
