{"id":3644,"date":"2014-01-20T12:13:23","date_gmt":"2014-01-20T12:13:23","guid":{"rendered":"\/?p=3644"},"modified":"2014-01-20T12:24:27","modified_gmt":"2014-01-20T12:24:27","slug":"firstin-wireless-technology-inc-otcmktsfinw-inching-its-way-up","status":"publish","type":"post","link":"\/articles\/firstin-wireless-technology-inc-otcmktsfinw-inching-its-way-up\/","title":{"rendered":"Firstin Wireless Technology Inc (OTCMKTS:FINW) Inching Its Way Up"},"content":{"rendered":"

\"FINW.png\"Until about a year ago, the operations of Firstin Wireless Technology Inc (OTCMKTS:FINW<\/a>) (f\/k\/a Passionate Pet, Inc.) consisted of nothing more than running a pet store located in Irvine, California. Predictably, the number of people interested in the stock wasn’t huge. Volumes were small and the price movement was virtually non-existent. <\/p>\n

Then, in April 2013, they completed the acquisition of a private company called Firstin Wireless Technologies and officially became a player in what they like to call “the mobile VoIP revolution<\/em>“. According to company descriptions around the internet, FINW<\/a>‘s mobile applications should give you a superior quality while massively reducing the costs associated with roaming services. <\/p>\n

Once again, however, investors seemed unimpressed and the stock remained stationary. It wasn’t until a couple of weeks ago that we finally started seeing some movement. The trading volumes picked up and FINW<\/a> began ascending the chart. The climb isn’t explosive, but the fact that more than $750 thousand worth of shares changed hands during Friday’s session suggests that a lot of people are now paying attention to the ticker.<\/p>\n

To some extent, this could be attributable to the press release which came out about an hour before the start of Friday’s session. According to it, FINW<\/a> are ready to launch a series of mobile applications which could potentially save users up to 50% over the regular costs associated with the long distance communication and roaming charges.<\/p>\n

Unfortunately, the increased interest is also caused by the involvement of the pumpers. The campaign started on January 8 and it immediately had its effects on the volumes. Since then, we have received more than twenty emails from a range of promotional outfits, the most prominent of which seems to be Damn Good Penny Picks. According to our database, the total budget amounts to $62 thousand and virtually all the emails talk about “Buyouts<\/em>“, “Break outs<\/em>” and “Madness<\/em>“. There’s no shortage of optimism among the pumpers, but, considering the tasty compensations that they received, this is somewhat understandable.<\/p>\n

In reality, things look a bit underwhelming. FINW<\/a> filed their latest annual report three weeks ago and it shows that, as of September 30, they had:<\/p>\n