RE: last news release
You're way off the mark here. I was speaking with a broker today who
is very familiar with FRP; this Company obviously will at some time in
the next six months need to raise additional capital for acquisitions
(and there are some exciting ones in the works) and to fully implement its
business plan. Any financings will occur at prices considerably higher
than what you see at the moment. Some warrants also expire within six
months around $1.60, which if exercised will pump substantial additional
dollars into the treasury - hence there is major incentive to +make things
happen+ and move this stock through $2.00 before the end of the year,
perhaps much sooner.
This Company has not even begun to be discovered by investors. When that
starts to happen, watch out. Only 6 million shares are outstanding at
the moment, giving FRP a VERY small market cap (4 million approx.). They
have an exciting business model, and if they follow through on what they
say they are going to do - investors will be generously rewarded.
FRP's AGM is month-end. Expect approval of their +change of business+ by
the Exchange just prior to the AGM. Some frustrated investors who lack
a little patience are throwing some cheap stock at the market.
Situations like this are when you can make some REALLY good money.