{"id":949,"date":"2012-12-18T05:26:00","date_gmt":"2012-12-18T05:26:00","guid":{"rendered":"\/?p=949"},"modified":"2013-03-25T21:05:10","modified_gmt":"2013-03-25T21:05:10","slug":"psychic-friends-network-inc-otcpfni-wrecked-beyond-repair","status":"publish","type":"post","link":"\/articles\/psychic-friends-network-inc-otcpfni-wrecked-beyond-repair\/","title":{"rendered":"Psychic Friends Network Inc. (OTC:PFNI) Wrecked Beyond Repair"},"content":{"rendered":"<p> The more superstitious may be expecting the world to end at the end of this year, and some Psychic Friends Network Inc. (OTC:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PFNI\">PFNI<\/a>) investors are selling as if it&#8217;s their last. The stock, pumped since December 5th with a significant budget, erased all gains in just two trading days, falling like a rock and losing upward of 55% each day. <img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/PFNI1218.png\" border=\"0\" alt=\"PFNI1218.png\" title=\"PFNI1218.png\" width=\"450\" height=\"201\" \/> <\/p>\n<p>We wish we could say <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PFNI\">PFNI<\/a> gave a good run for some investors&#8217; money, but the selling in the past two days happened in much lower volumes than the buying, leaving a lot of investors holding very depressed stock. This may mean more selling in the future, as well as a further fall in price. But for those who still have hope, just take a look at the company&#8217;s underlying financials: <img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/SANP1218.png\" border=\"0\" alt=\"SANP1218.png\" title=\"SANP1218.png\" width=\"350\" height=\"156\" \/><\/p>\n<ul>\n<li>Zero revenues <\/li>\n<\/ul>\n<ul>\n<li>$394,063 cash <\/li>\n<\/ul>\n<ul>\n<li>$168,043 quarterly net loss <\/li>\n<\/ul>\n<ul>\n<li>$35 million market capitalization <\/li>\n<\/ul>\n<p>The company still has no significant business and it&#8217;s improbable that it will repeat its success from the 90&#8217;s. Although there is a new website and an attempt at a mobile application, the success from sales is still far and we&#8217;ll have to wait and see if it will translate into sustainable stock growth.<\/p>\n<p>We talked before of the company&#8217;s CEO Michael Lasky. A serial entrepreneur, he is known for abandoning companies and moving on to new projects. Although Psychic Friends Network is his best-performing company, it is still unclear whether he intends to expand it and make it profitable or may be using paid promotions to just pump its stock.<\/p>\n<p>It is still not clear if the <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PFNI\">PFNI<\/a> noise will continue in any way. The Stock Specialists campaign, with a $100,000 budget, fizzled out in just a few days, and the PR messages have been silent for about a week. Lacking promotional noise, the <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PFNI\">PFNI<\/a> may climb erratically and attract interest, but it has shown the possibility for erasing all gains very quickly.<\/p>\n<p>While <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PFNI\">PFNI<\/a> is mostly finished, another co-runner, Santo Mining Corp.  (OTC:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SANP\">SANP<\/a>) is still vying for attention with an ongoing promotion. The stock has been falling in the past few days, but it may stage a comeback as the emails continue to be among the most active. It&#8217;s best in the case of freshly promoted companies to do your own research and try to avoid surprising losses.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/email.thestockmarketwatch.com\/wf\/open?upn=vzZzBY9Y6niCD8OCkromjDCcSvKMEpqS40G2OupyPS6wy8KbBYGnlzVd3rvJlEpFImD3LywOHQcnbnEhsEw0Ol0k095W-2FjFS4F8q-2BeTOs-2BFFFb3zZKlA7I3uTd-2Bv-2Bpgv-2FQuHfffm5coLG3y-2FQAkuHyy06ygdkdPz6BxsbpS4NRv3Iy1x6P57Dcxc8kVCxwiuFNrS622WZeylvAIpgjOliQ-3D-3D\" alt=\"\" width=\"1\" height=\"1\" border=\"0\" style=\"height:1px !important;width:1px !important;border-width:0 !important;margin-top:0 !important;margin-bottom:0 !important;margin-right:0 !important;margin-left:0 !important;padding-top:0 !important;padding-bottom:0 !important;padding-right:0 !important;padding-left:0 !important;\"\/> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The more superstitious may be expecting the world to end at the end of this year, and some Psychic Friends Network Inc. (OTC:PFNI) investors are selling as if it&#8217;s their last. The stock, pumped&#46;&#46;&#46;<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[361,502],"class_list":["post-949","post","type-post","status-publish","format-standard","hentry","category-news","tag-pfni","tag-sanp"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/949","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=949"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/949\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=949"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}