Forum National Investments Ltd. (OTC:FMNL) has had more than one promotion in the past two months and a new one can affect trading today.
The first promotion on May 30 had an adverse effect on trading, but the second one from about a week ago seemed to work better.
The compensation for the latest promotion is $30 thousand – significantly higher than the previous two. The promoter claims the sum was paid by a non affiliate third party, but doesn’t specify a name.[BANNER]
FMNL is engaged in the Life Settlement industry through a specially-formed subsidiary, American Life Settlement Society. While the focus is the US market, the company itself is based in Canada.
The latest press release by FMNL concerned the appointment of Frederick Schlosser to the Board of Directors.
Even though previous promotions didn’t result in a price drop, the success of the current pump is questionable. At $1 per share the market cap of FMNL is close to $29 million and given the lack of profitability in the past, and the uncertainties around the future financial performance, FMNL may need to deliver a more sound performance on the business side.
