Kaloyan Gadzhev

Psychic Friends Network, Inc. (OTC:PFNI) Getting a Paid Pump Early On

by Kaloyan Gadzhev May 7, 2012

PFNI is a second stab at the idea of the Psychic Friends infomercial idea from the late 90's. From the filings of the company so far, it seems PFNI has secured some dilutive financing which won't be enough to sustain operations for the next 12 months.

At the current price the market cap of PFNI is more than $85 million. At the same time there is no guarantee PFNI will perform as well as the infomercials did last time, and a recent filing states that the phone service that the management operated in the 90's was forced to file for bankruptcy.

pfni_logo.pngKeeping in mind that PFNI hasn't reported any results yet, the $85 million cap seems somewhat inadequate. Traders and potential investors should do their due diligence before even thinking about approaching this company.

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