FTE_Networks Inc. (OTCQB: FTNW) is getting no love on todays announcement of a multi-year contract with a leading telecommunications carrier valued up to $8 million. FTE was awarded this ancillary contract as a follow-up to a previous engagement with the telecom leader. FTE has already successfully secured more than $150 million in new contract awards this year, much of which stems from industry leaders.
The Company recently approved a 1-for-20 reverse split of its common stock, as well as an increase in the total authorized share count from 70,000,000 to 200,000,000 shares of common stock, this could be partly the cause of the light volume since the roll-back.
FTE Networks, Inc. is a leading international networking infrastructure service solutions company. The Company designs, builds, and supports telecommunications and technology systems and infrastructure services for Fortune 500 companies. FTE is headquartered in Naples, Florida, with offices throughout the United States and Europe.