Falconridge Oil Technologies Corp. (OTCMKTS:FROT)’s Plummet Intensifies
Falconridge Oil Technologies Corp. (OTCMKTS:FROT)’s paid promotions started on Nov. 11 and nearly doubled the company’s market value at the peak of the ticker’s climb, but as with all pumps the crash was just a matter of time.
Interestingly enough, FROT‘s downfall didn’t come when the company filed its latest financial report on Nov. 23, declaring that it had the following laughable financials and proving the pumpers wrong:
- Cash – $979 NUMBER NOT IN THOUSANDS
- Total current assets – $11 thousand
- Current Liabilities – $1.8 million
- Quarterly revenues – $1497 revenues
- Quarterly net loss – $57 thousand
No, as the charts can attest, the ticker’s first step down came about a fay after the results were filed, and was somewhat hesitant, but it didn’t take a whole lot of time for the gentle slide to turn into a horrifying downhill roller-coaster that smashed FROT share prices back to $0.90 on Black Friday.
And, honestly – who can blame investors for abandoning ship? Although FROT‘s pump appears to still be going strong, it has become quite obvious that the company doesn’t seem to be going anywhere. Except maybe down to the bottom of the charts, now that its mediocrity has finally caught the investors’ attention.
