Canadian
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| According to their own
info on their website, Microforum "is an e-commerce
applications, content, technology service corporation
providing a broad range of e-commerce, creative and
database marketing services to a list of recognized North
American-based clients". In plain English, they help
other companies get involved in e-commerce. The stock has been followed extensively by newsletter writer Bill Ridley. He noted on January 30, 1999 that Microforum's third quarter report was in and showed a 625% increase in revenues over the previous third quarter. Moreover, this was the third consecutive large increase in sales as Q1 results had been up 310% and Q2 up 576%. In early April 1999 Microforum announced that it had been invited to sit on Microsoft's Commerce Partner Advisory Council, one of only 25 companies invited to participate. On that note, Canaccord's David Wong reiterated his buy recommendation of April 1st when the price was $1.35 a share. It was then $2.35. By month end it had soared to $12. In a July 5th interview with Stockhouse.com, Wong discussed the company's contract to set up a credit approval network for National Bank. Wong talked of the possibility of Microforum and National Bank's product being adopted by banks worldwide. The stock consolidated around the $6 level before exploding to peak at $15 in February 2000. The stock steadily dwindled after that and nosedived to a low of $1.68 following an earnings warning on Sept. 28, 2000. This was followed by the resignation of CEO Howard Pearl amidst allegations of impropriety. Nevertheless, revenue and sales growth is on track. Shares Outstanding: 42,224,718
Address: Phone: (905) 795-5105 This
page first published: Sept. 19, 1999 |
Stock Symbol: MCF (TSE) Profile News: Forums: |