Is Forum National Investments FMNL Legit or a Pump and Dump?

There was a feeling brewing inside that said: Watch the penny stock of Forum National Investments Ltd. (OTC: FMNL) today and now it is confirmed why.  FMNL stock closed at $1.12 on Monday, up 19.15% since our initial alert, and steadily gaining a couple percentage points each day since. Fourm National Investments announced an hour before today’s trading session plans to begin the sale of the Company’s Canadian Financial bond offering securitized by senior U.S. life settlements. This is epic because this type of bond offering has never occurred before, “an industry first”.

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FMNL Stock Chart

FMNL shares are set to open at 115.03% above the 50 day moving average, 325.59% above the 200 day moving average, -5.08% below the 52 week high set yesterday at $1.18, and 918.18% above the 52 week low of $0.11.

Hard mailers went out on FMNL weeks ago  (see here) and it has proven to have been beenficial to the PPS performance. This new, first time ever financial product is targeted towards retail investors looking for an uncorrelated alternative investment opportunity since Life Settlements are not correlated to stock market fluctuations or economic downturns.

FMNL says it will utilize Life Settlements as the back bone for the securitization and the trigger for performance of the Bond. The bonds performance is directly tied to one factor only, the maturity and payment of the death benefit of the life Insurance policy that secures the investment.

The life insurance policies being used to secure each bond issuance provide exposure to 2 lives with the average age of the insured’s at the time of issuance being 80 years of age or older.In the case of the first bond issuance,  the insured persons are 83 and 85 years of age.

The first bond offering is for $9 million in death benefits and will be marketed at an initial 85% discount to face value. Additionally the investor will be responsible for their pro rata share of the ongoing annual insurance premium costs until maturity.

Click here to view the press release from today.

Bottom Line: FMNL stock is one to have on today’s penny stocks to watch  list. Treat it for what it worth, a short term investment at best until volume can increase to a level that warrants lower risk with more shares and trades being executed.

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