FTE Networks Inc (fka FTNW)

[Ed Ajootian]

Traderfan, I agree, it seems likely that this reverse is in connection with a listing on a national exchange. I would not be surprised if we see a PR before the market opens on Monday saying that the company has received conditional approval to list on Nasdaq CM pending them having a stock price of > $3 for say 2 weeks, and that they have done this 1:25 reverse so that they would essentially ensure that the stock stays over $3.

I don't fully understand why they thought they needed to do such an extreme ratio of reverse split, it seems like overkill. Now there will be very little shares in the float. I wonder if they also did a private placement that they will announce on Monday also. I would be a bit disappointed if they did this but its not the end of the world if they did.

There is a decent chance that the stock will sell off in a knee-jerk reaction to the reverse split announcement. If that happens I will seriously consider buying more, even though I already have a very large position in this stock.