Dark Future for Psychic Friends Network, Inc. (OTC:PFNI)?
With the New Year approaching, it’s natural to be curious what the future holds. Psychic Friends Network Inc. (OTC:PFNI), the resurrected psychic readings company, has burst on the screen again, this time trying to take over the internet. The PFNI stock has been promising great gains in your future, with the aid of several paid pumpers and a PR campaign in well-read web sites for business news. 
The company promises to repeat the success from the 90s when it became an infomercial empire, spinning off a talk show. Currently, the new company is registered as an exploratory stage entity, with no revenues, although a website is already up, offering online psychic consultations. It’s still early to predict if Michael Lasky, a flamboyant entrepreneur, will keep the company alive or fall back on the habit of letting businesses sink due to neglect.
Currently, the Psychic Friends Network struggles for attention and success with the following financial strengths and weaknesses:
- Zero revenues
- $394,063 cash
- $168,043 quarterly net loss
- $35 million market capitalization
While the internet is overloaded with psychics, it is early to say if Psychic Friends Network could rely on its old fame to get ahead. The company claims in the 90s it reached revenues of $600,000 per day only through telephone consultations at $3.99 per minute.
The major promise of Psychic Friends Network is its improved web technology, hoping on a wider client outreach. The company is still developing the opportunities for reaching customers by offering regular phone services, live chat, video chat and applications for smartphones.
Yet before calling so many customers to the hotline, Psychic Friends Network is calling investors with a $100,000 budget for Penny Stock Wizard. This may provide a reasonably long campaign and a steady climb for the stock which has added close to 50% in a few days, and more than 11% yesterday, crossing above $0.50. The pump by Penny Stock Wizard seems to be specially devoted to PFNI, although there’s a short parallel promotion for Santo Mining Corporation (OTC:SANP). The company quickly headed for the bottom, as we warned multiple times, only gaining a bit after another email reminder on December 7th.
