Juniper Group Inc. (JNIPE.OB) is the provider of broadband installation and wireless infrastructure services in the United States. Yesterday the stock jumped up by 33.33%. All the owners of this stock would be clapping their hands from joy but I am very pessimistic about this company. You are asking me why. Take a look at my findings.
The first thing that captured my attention was the notification about late 10-K filing on March 30th, 2009. Here is the extract from it:
The Company’s Annual Report on Form 10-K for the year ended December 31, 2008 could not be filed within the prescribed period because the Company was unable to compile certain information required in order to permit the Company to file a timely and accurate report on the Company’s financial condition. This inability could not have been eliminated by the Company without unreasonable effort or expense.
Just looking at the latest headlines, I have noticed one more push. On 1st May, Juniper Group announced that it signed a Master Service Agreement with BCI Communications. However, I am not able to find the 8-K filing which could justify this.
And the last but not least argument is the stock promotion: Willy Wizard has been compensated $1,000 by Oceaninc for a one week JNIPE (from April 26 to April 31) image marketing advertisement. The money isn’t big but everything still might happen.
Thus there is no point to look at the financial side of the company. It’s enough what I have already seen in Juniper Group.