|Bid||0.0000 x 900|
|Ask||0.0000 x 1200|
|Day's Range||1.2500 - 1.6789|
|52 Week Range||0.3300 - 2.2500|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 11, 2019 - Jul 14, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||35.00|
FTE Networks, Inc. (NYSE American: FTNW) (“FTE” or the “Company”), today issued a shareholder update. The full text of the letter from interim CEO Michael P. Beys follows. My last update to shareholders was on January 3, 2020 to advise on the Company’s acquisition of Vision Property Management LLC for $350MM by its US Home Rentals subsidiary on January 2, 2020.
FTE Networks, Inc. (NYSE American: FTNW) (“FTE” or the “Company”), today announced that it has completed the sale of CrossLayer, Inc., to Wyoming-based special management company CBFA Corporation. The transaction closed on January 16th and marks a reaffirming step forward in FTE’s strategic plans to stimulate revenue growth and shareholder value in 2020. This release may contain “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995.
Suneet Singal, CEO of First Capital Master Advisor and Former Chairman and CEO of First Capital Real Estate Trust, Inc., announces successful $350 Million real estate acquisition by FTE Networks, Inc. and a $100 Million stock distribution to the common shareholders of First Capital Real Estate Trust, Inc.
FTE Networks, Inc. (NYSE American: FTNW) (“FTE” or the “Company”), announced that it has signed a definitive agreement to acquire the assets of Vision Property Management LLC (“Vision”) and its affiliated assets which include more than 3,000 residential real estate assets in 46 states. Vision’s management team assembled its portfolio of houses over the past 10 years and will continue as senior executives of the Company and major shareholders. In addition, FTE intends to explore the possibility of converting to a real estate investment trust (REIT), either independently or through a combination with an existing REIT.
FTE Networks, Inc. (NYSE American: FTNW) (“FTE” or the “Company”) announced that on December 17, 2019 it received a letter from the NYSE American LLC (the “Exchange”) notifying the Company that the Exchange had determined to commence proceedings to delist the Company’s common stock (the “Common Stock”) from the Exchange, pursuant to Section 1003(f)(iii) of the NYSE American Company Guide (the “Company Guide”) because the Company or its management have engaged in operations that, in the opinion of the Exchange, are contrary to the public interest. The common stock was suspended at market close on NYSE American on the same date.
We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. The...
FTE Networks, Inc. (NYSE American: FTNW) (“FTE” or the “Company”) today announced an amendment to the Debt and Series H Preferred Stock dated October 10, 2019 (the “Debt and Series H Agreement”), with Fred Sacramone and Brian McMahon, under which Messrs. Sacramone and McMahon released and discharged the Company and its affiliates from all but $28,000,000 (the “Remaining Indebtedness”) of the indebtedness owed to them by the Company and its affiliates.
FTE Networks, Inc. (NYSE American: FTNW) (“FTE” or the “Company”), today announced that on October 14, 2019, the Company received a notice of non-compliance from the NYSE Regulation staff of the New York Stock Exchange (“NYSE”) advising the Company that it was no longer in compliance with NYSE’s continued listing requirements set forth in Part 8 of the NYSE American Company guide (the “Company Guide”) as a result of the board resignations that were disclosed in the Company’s Form 8-K filed on October 11, 2019.
FTE Networks, Inc. (NYSE American: FTNW) (“FTE” or the “Company”), announced that senior lender Lateral Investment Management LLC (“Lateral”) took possession and ownership of FTE’s principal subsidiary Benchmark Builders by means of a strict foreclosure citing certain events of default caused by certain judgements entered into by convertible note holders. As more fully described in the Company’s Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on October 11, 2019, the Company consented to this foreclosure proposal which provided for total debt relief equal to in aggregate more than $80 million. This debt relief was an instrumental part of the Company’s decision to agree to the proposed foreclosure terms as the Company was determined to be over leveraged.
FTE Networks, Inc. (NYSE American: FTNW) ("FTE" or the "Company"), today issued a letter to FTE shareholders regarding the Company’s efforts and progress since the completion of its debt restructuring in July 2019. The full text of the letter from President and Interim CEO Fred Sacramone follows.
FTE Networks, Inc. (NYSE American: FTNW) ("FTE" or the "Company"), announced that it has completed its previously announced debt restructuring. The terms and conditions of the debt restructuring are described more fully in a Current Report on Form 8-K which the Company filed with the Securities and Exchange Commission on July 8, 2019. Reconstituted Board. The Company’s Board of Directors has been reconstituted to include five new Independent members who have significant public company experience and strong business backgrounds and who will also help with industry contacts, client relationships and business development.
NEW YORK, June 14, 2019 -- FTE Networks, Inc. (NYSE American: FTNW) ("FTE" or the "Company"), a provider of technology solutions for smart platforms, network infrastructure.
FTE Networks, Inc. (NYSE American: FTNW) ("FTE" or the "Company"), a leading provider of innovative technology solutions for smart platforms, network infrastructure and intelligent buildings, today announced that on April 17, 2019, the Company received a notice of non-compliance with the continued listing standards set forth in Section 1007 of the Company Guide (the "Company Guide") of NYSE American LLC (the "Exchange"). This notice of noncompliance is predicated on the Company’s failure to timely file its Form 10-K for the fiscal year ended December 31, 2018 (the "2018 Form 10-K") with the Securities and Exchange Commission (the "SEC").