Welcome to the board stockonhigh, this report by FastMovingStocks was well-timed it appears. It was pretty well written and accurate, except I don't know how they got only 3.8M of shares in the float. I get something closer to 6.7M shares to start, plus another 7.6M shares from the equity raise that happened about a year ago which never got registered but which are now free-trading under Rule 144.
From a long term (or even intermediate term) perspective, I'm not sure having a tiny float is a good thing anyway. The tiny float would serve to cause any of the big boys to shy away from buying the stock since it could become a roach trap for them.
I'm psyched to see the buying hold up in this thing, even after the news has come out. We now have just 2 weeks to go before getting the 3Q 10Q, and I believe there is a good chance that the company could put out some guidance on 4Q when they issue those numbers. We still obviously have a big seller in our midst but the more shares we can wrest from his hands before the 3Q earnings come out, the fewer he will have left to rain on the post-earnings parade.
Now all we need is for the company to present a few investment conferences. They said they would be doing this so hopefully they will come through on this sooner vs. later, now that the stock price chart is looking pretty good.
Its interesting that they have decided to try for a patent on their CrossLayer technology. The downside of going for a patent is that you have to disclose how it works to the public, which might give someone the ability to copy their technology and if FTE never knows about it they can't defend their patent.
