Is It Time To Ring Firemans Contractors (FRCN) Alarm?

FRCN Stock, Fireman's ContractorLooking to speculate on a sub-penny stock prior to a surge in attention? Then take a moment or two this weekend and check out Firemans Contractors, Inc. (FRCN). We profiled FRCN stock in August, 2013 when the shares suddenly caught fire and began racing up the charts. Although there really isn’t much to get excited about when it comes to a Forth Worth, Texas based Company that banks on painting, seal coating, parking lot striping, and construction services, but seeing as how they ousted Asher Enterprises Inc. in a recent settlement, the end of the dilution machine should allow for the ladder to be risen again as June quickly approaches.

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Market Cap: 659.27K
Last: 0.0011
Volume: 7,126,367
Dollar Volume: $7,109
Open: 0.001
High: 0.0011
Low: 0.0009
Trades: 19
14-Day RSI: 47.67%
1st Resistance Point: 0.0012
1st Support Level: 0.001
52Wk High: 0.01
52Wk Low: 0.0004

Firemans Contractor just finished coming off a dismal quarter that suppressed their ability to beat their 2013 numbers due to bad weather, ice and simply just a winter season that blocked workers from being able to attend to the needs of the Company’s clients. Total revenues from their contracting services for the 3 and 9 months ended March 31, 2014 were $181,293 and $686,161, respectively, compared to $320,474 and $778,160 for the same respective periods in fiscal 2013.

On a brighter note, they did sell their 3rd franchise during the quarter and a fourth one on April 24 and have the bullish comments issued by their President and CEO, Renee Gilmore, heading into their fiscal Q4 after he mentioned that Firemans Contractor issued more than $2.8 million in estimates for this active season that runs through the end of this quarter and into their fiscal first quarter, the period ending September 30, 2014. Add that onto the recent agreement with Asher Enterprises to issue them 45,000,000 shares of FRCN stock, 39,000,000 as of May 5 and the remaining 6,000,000 due prior to August 1, and there is finally a light at the end of the dilution tunnel that has limited FRCN from being able to break past 0.01.

In fairness, FRCN stock is probably the most diluted penny stock on the OTC when you look at what’s occurred since June 30, 2013. As of June 30, 2013, there was just 18,966,619 shares of FRCN stock issued and outstanding. During the course of the subsequent 9 months, 541,366,826 shares were issued in debt conversions at prices ranging from as low as 0.0002 and as high as 0.0025.

Based on those numbers, the chances of FRCN seeing 0.01 anytime soon are highly unlikely. Then again, when you look at the 8 sessions this year where volume exceeded 100,000,000 likely had a large amount of convertible debt issued stock being dumped onto traders which leads us to speculate that Asher Enterprises might be out of rubber bullets in the not so distant future.

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About FRCN Stock

Firemans Contractors, Inc. is a full service painting company, focusing on residential, commercial and industrial parking lot striping, and parking lot maintenance services.

Click here to view the SEC filings for FRCN.
Click here to view the website for Firemans Contractors.

Authorized: 600,000,000
Issued and Outstanding: 599,333,445

Last 5 Trading Sessions:

Date Open High Low Last Change % Change Volume
05/29/14 0.0010 0.0011 0.0009 0.0011 unch unch 7,126,300
05/28/14 0.0009 0.0011 0.0008 0.0011 +0.0002 +22.22% 8,639,399
05/27/14 0.0009 0.0010 0.0008 0.0009 -0.0001 -10.00% 3,387,000
05/23/14 0.0010 0.0010 0.0009 0.0010 unch unch 7,450,000
05/22/14 0.0010 0.0010 0.0009 0.0010 unch unch 10,438,300


Bottom Line:

Sub-penny stocks like FRCN can explode without notice which makes this past performer a must add to the summer time speculation list. From 0.0011, needing to grab a fire extinguisher to put out the losses is the least concern any new viewers of FRCN stock should be worried about. What is likely to occur is that when reports of revenues booked during their fiscal Q4 ending June 30, 2014, a surge of attention could smack that ask all the way to 0.005 – a possible 354% gain.
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