His disappointment must be even greater today. Instead of gettin the update he had been longing for for so long, he received a promotional alert on ONFI stock. The third-party-campaign costs $80 thousand dollars and is expected to boost the volume and the price of ONFI stock today. In the meantime, ONFI ended last week on a high note, with its stock gaining 19% in value and volume going beyond the 900 thousand mark. Since the company gave yesterday’s market session a miss, we have yet to see whether the promotion will have any significant effect on the market.
As it seems, the only thing OneFi Technology Inc. is really good at is producing a myriad of press releases that generate enough hook to get investors to pool their money in ONFI shares. The company has committed to developing IPTV broadband services and offering them both in the United States and worldwide. ONFI was incorporated 14 years ago in Nevada. Since then, it has changed its name two times only.
A quick glance at the financial side unveils a fairly confusing picture. The company has zero cash, yet it disposes of some $2.4 million in the form of property, equipment and license agreements. In addition, it has failed to generate a single penny in revenue for the first nine months of 2010. Instead, a net loss exceeding $800K has been accrued. [BANNER]
Seen from a different perspective, however, ONFI actually stands the chance of striking gold with its own IPTV technology. Provided that it manages to build strategic partnership agreements with telecoms and Internet service providers, it will be able to offer a much wider spectrum of services to over 10 billion households living in rural and remote regions.
