In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), FTE Networks Inc. (OTCMKTS:FTNW) reported that Lateral Global Investors Llc. has picked up 58,064,127 of common stock as of 2017-05-15.
The acquisition brings the aggregate amount owned by Lateral Global Investors Llc. to a total of 58,064,127 representing less than 38.7% stake in the company.
For those not familiar with the company, FTE Networks, Inc. (FTE Networks) is a provider of international and regional telecommunications and technology systems, and infrastructure services. The Company’s segments include Data Center Infrastructure, Fiber Optics, and Wireless Integration, Network Engineering and Compute to the Edge. The Company also offers managed information technology, telecommunications services, subscriber-based services and staffing solutions through its subsidiaries, Jus-Com, Inc. (doing business as FTE Network Services), FTE Wireless, LLC and Focus Venture Partners, Inc. (doing business as FVP Worx). The Company’s services include engineering consulting, design, installation, maintenance and emergency response in various categories, including cabling, equipment installation and configuration, rack and stack, wiring build-outs, infrastructure build-outs, direct current power installation, online service provider/Internet service provider fiber placement, fiber cable splicing and testing.
A glance at FTE Networks Inc. (OTCMKTS:FTNW)’s key stats reveals a current market capitalization of 3,907.00 based on 126.25 Million shares outstanding and a price at last close of $0.780 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2013-12-17, Glasgow picked up 265,794 at a purchase price of $0.03. This brings their total holding to 5,000,000 as of the date of the filing.
On the sell side, the most recent transaction saw Mills unload 45,000 shares at a sale price of $1.00. This brings their total holding to 1,487,250.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on FTE Networks Inc. (OTCMKTS:FTNW) as things move forward to see if its progress aligns with these transactions.
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