FORCE PROTECTION V USD0.0001 (OTCMKTS:FPVD) went nuts on Tuesday, launching 220% higher on 15x the 3-month average volume for FPVD. The move subsumed the last month of action, which was mostly low-volume choppy action with a downside bias. The catalyst was the company’s announcement that it has received a further order from the DHS/DEPARTMENT OF HOMELAND SECURITY for 160 LE50 cameras and VeriPic software.
According to the release, this order is a follow up to an earlier delivered order in August 2016. These orders are a direct result of our attendance at a National Security Conference Expo. In all, we’ve witnessed just under 170% added to share values of the name over the past week of action, a bounce that has taken root amid largely bearish action over the larger time frame. Market participants may want to pay attention to this stock. FPVD has evidenced sudden upward volatility on many prior occasions. Moreover, the company has seen interest climb, with an increase in recent trading volume of approaching 470% beyond its prior sustained average level.
FORCE PROTECTION V USD0.0001 (OTCMKTS:FPVD) trumpets itself as a company that sells mini body video cameras and accessories to consumers and law enforcement agencies.
FPVD offers video and audio capture devices to capture high definition (HD) video and/or audio on demand enabling its customers to capture content while engaged in a range of activity; accessories that enhance the functionality of its products, including mounts, such as the helmets, handlebars, roll bars, and tripod mounts, as well as mounts that enable users to wear the camera on their bodies, such as the wrist housings, chest harnesses, and head straps; and other accessories comprising spare batteries, charging accessories, and memory drives.
Its products include LE10 Law Enforcement Video Recorders and LE50 HD Body Cams, which are on-body camera designed for use by law enforcement mounted on helmets, tactical vest, and riot shields; LE50 HD Body Cam; SC1 Sunglass Camera, a sunglass camera that features a wide-angle video camera with one hour record time; and Citadel 3G Solar Security Camera, a solar security camera with remote wireless surveillance technology.
The company was formerly known as Enhancer-Your-Reputation.Com, Inc. and changed its name to Force Protection Video Equipment Corp. in March 2015. It was founded in 2011 and is based in Cary, North Carolina.
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Make no mistake about it: this company lives or dies on the basis of potential orders from homeland security.
According to the release, “The LE50 was developed using current guidelines that Law Enforcement nationwide have written into their requirements for purchase of body worn cameras for their officers. Our camera and software via VeriPic meets and exceeds these requirements. We are also the first company to build into a Body Camera an audio announcement feature. When the camera first starts to record an announcement clearly states “ATTENTION AUDIO AND VIDEO RECORDING HAS STARTED,” and when the cameras recording mode is stopped it clearly states “ATTENTION AUDIO AND VIDEO RECORDING HAS STOPPED.” Our studies show when someone is made aware of a recording taking place, their attitude and demeanor tend to turn more positive and less aggressive towards police officers. The LE50 uses white diode lighting in our design. The reason mainly relies on a safety issue. Cameras that utilize IR lighting can be harmful due the brightness of the IR light and the fact that the human eye does not react to this source of light; there is a high probability that whomever looks at these lights can possibly damage or injure their sight.”
Note, the is an extremely low-float play. We aren’t 100% on what the exact float number is as of today, but OTCmarkets.com reports the total outstanding shares at around 3.5M. That goes a long ways toward explaining the 200%-plus move in the stock in one day. And it continues to suggest a warning sign for anyone sitting short the stock at this point.
Currently trading at a market capitalization of $0.1M, FPVD has virtually no cash on the books, which is balanced by about $279K in total current liabilities. FPVD is pulling in trailing 12-month revenues of $96K. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 216.8%. You can bet we will update this one again as new information comes into view. For continuing coverage on shares of $FPVD stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $FPVD, either long or short, and we have not been compensated for this article.