First Corp (OTC: FSTC) until today was a bit of a mystery and quite forgettable if you weren’t familiar with its mission, past dealings or its intended direction. Prior to today, First Corp concentrated its efforts on organization and raising capital.
Unless you spend a fair amount of time checking stock promotion websites, you would have missed that StockAppeal LLC had been compensated $10,000 to increase the pubic awareness of First Corp by M Elliot Media, on April 12, 2012. This is also forgettable; a $10,000 payment for the promotion of a stock is hardly something to write home about very often.
This compensation and promotion of First Corp on April 12, 2012, however, came on the heels of a same-day shareholder vote to execute a Securities Subscription and Option Agreement with Gecko Landmarks Ltd.
At the time, investors should have listened to Gecko CEO Pasi Riipinen when he said, “The Gecko SMS is a generic text message editor currently available on Google’s Android mobile phone platform. As well as providing superior functionality to the native Android text editor it automatically adds location information to the end of the message.”
This technology could go on to enhance location services to nearly 5 billion people in Africa, Asia, and Central America, areas where map coverage is poor and there is not a strong culture of map reading. This location information is linked to local landmarks that assist users on both sides of an SMS to determine location information based on the familiar.
Following SEC compliance, today marked the day when First Corp finalized the deal, $1 million for 10% of Gecko, and its stock shot out of the gates like a rocket.
So much so that it seems to have crashed Gecko’s website the moment the stock jumped 75% at the bell, and remained steady for the rest of the day with a single recovered dip.
While yesterday is gone, look towards Gecko and, by proxy, First Corp to continue to build on this gain. Five billion people, once they hold feature phones, is a number that cannot be overlooked. As Gecko continues to work with social networks and mobile phone companies to build its registry of landmarks, expect to hear more in the future.
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