Apparently a million dollars doesn't go as far as it used to. While it would still buy a lifetime supply of Diet Pepsi and dozens of Honda Civics, a cool million is now only good enough for a pair of top-level gay-oriented websites. In early November, the www.Gays.Com domain sold through Sedo's online marketplace for $500,000, making an interesting story about what the future holds for a company like Franchise Management International (OTC: FMII). Franchise is pending closure of a binding letter of intent with Netadventures, Inc to acquire the www.GayTravel.Com website in addition to a dozen other similar domain names. Upon closing the deal, Franchise would apparently join a short list of gay-friendly companies like PlanetOut (NASDAQ: LGBT), which currently trades on the Nasdaq, and Triangle Multimedia (OTC: QBID), a pinksheet startup which saw its gay and lesbian television network terminate its signal in May of 2006 due to financial problems.
Interestingly, despite the large gay market and relative scarcity of gay and lesbian public companies, Franchise's stock has remained quiet over the past few weeks. After an initial surge to over $.015 on the announcement of the binding letter of intent, the stock was bidding at $.0028 (less than 1/3 of a penny) on Wednesday afternoon with virtually no public interest. With a believed public market of less than 150M outstanding shares, Franchise is ironically valued about $80,000 less than the single www.Gays.Com website was sold for.
According to data on its website, www.GayTravel.Com had booked over 2.5M visits and over 26M hits from a period of 2003-2004. As claimed, they do appear to have the top �organic' search ranking through informal testing done on Google and Yahoo!.
Franchise trades on the loosely-regulated PinkSheets Quotation Service, and does not file periodic reports with the Securities and Exchange Commission. While this is fairly typical of small companies with a limited operating history, it certainly requires a larger burden on the individual investor. According to language in the Franchise press release announcing the binding letter of intent, the acquisition should close by early February.
About Franchise Management International
Franchise Management International, Inc is a premier provider of public charter and transportation services. The company has recently announced a binding letter of intent to acquire the www.GayTravel.Com website and other assets of NetAdventures, Inc.
On Wednesday, the company traded at $.0028, up 12%, on 25,000 shares traded.
About Triangle Multimedia
Triangle Multimedia was the former operator of the Q-Television Network, which terminated its signal in May of 2006. For more information, visit http://www.cinemaxpictures.com.
On Wednesday, the company traded at $.0001, no change, on 1,600,000 shares traded.
About PlanetOut Inc
PlanetOut Inc. is the leading global media and entertainment company exclusively serving the lesbian, gay, bisexual and transgender (LGBT) community.
PlanetOut's digital media brands include Gay.com, PlanetOut.com, Advocate.com, Out.com, OutTraveler.com and HIVPlusMag.com, as well as localized versions of the Gay.com site in English, French, German, Italian, Portuguese and Spanish. PlanetOut print media brands, published by LPI, include The Advocate, Out, The Out Traveler and HIVPlus, as well as SpecPub, Inc. titles. Transaction services brands include e-commerce Web sites Kleptomaniac.com and BuyGay.com, travel and events marketer RSVP Vacations, book publisher Alyson Publications, and direct marketer Triangle Marketing Services, among others.
PlanetOut, based in San Francisco with additional offices in New York, Los Angeles, Minneapolis, London and Buenos Aires, offers Global 1000 and local advertisers access to what it believes to be the most extensive multi-channel, multi-platform network of gay and lesbian people in the world. For more information, please visit www.planetoutinc.com .
On Wednesday, the company traded at $4.25, down 4%, on 66,932 shares traded.
Important Disclosures and Other Information
THIS IS NOT AN OPINION TO BUY OR SELL SECURITIES. PQL Research, its affiliates, and its members, may hold various positions in Franchise Management International and/or Triangle Multi-Media and/or PlanetOut acquired in the open market at prevailing prices. It should be understood that these entities have intent to sell their holdings in Franchise Management International and/or Triangle Multi-Media and/or PlanetOut, whether for a profit or a loss, at any time, and for any reason. PQL Research editor Tim Fostik does not currently hold shares of Triangle Multi-Media or PlanetOut. PQL Research has been compensated 220,000 free-trading shares of Franchise Management International, Inc by a third-party to the company (Undiscovered Equities), to provide this report and subsequent coverage of Franchise Management International on PQL Research websites. PQL Research intends to sell this position into the open market, but as of the date of this publication PQL Research has not yet done so. PQL Research and its editors have not been compensated by Triangle Multi-Media or PlanetOut in any fashion for this release or coverage on any PQL Research website or service. PQL Research makes clear that its coverage(s) of securities are in no way expected to be �impartial' and often omit information that it may consider undesirable. Except factual information disclosed in company filings and/or press releases, all information cited in this release is to be considered speculative. PQL Research and Editor Tim Fostik are not licensed investment analysts, brokers, or dealers, and therefore, are not qualified to render investment advice. Investors are encouraged to seek qualified investment advice from licensed professionals as well as the many resources on the US Securities & Exchange Commission website at www.sec.gov.
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