This morning Conolog Corp (CNLG-NASDAQ) is up big after it issued a press release saying it sold 19 PTR Systems in various configurations from United States and Canadian electric utilities following the introduction of its CM100 communicator. Unfortunately there is no detail about any of the financial terms at all, so it is impossible to know if this order is worth a few thousand dollard or a lot more.
If you are not familiar with Conolog (CNLG), this is one of those mini-micro-cap cult stocks that has been around the micro-cap trading circles for years. In the late 1990’s it even used to have warrants with a CNLGW ticker. The company does not even do $1 million in annual revenues and has no coverage because its market cap is literally listed as under $6 million.
The stock is up 28% at $3.02 this morning and has already come close to its average daily volume; the 52-week range is $1.00 to $7.80, so you have to understand it is very volatile. CNLG is one of those that also used to have a significantly higher stock price. It used to be known as an electrical equipment supplier for power companies but it is now known as a micro-cap focused on electrical components and subsystems used in telecom, radio, fiber optics, and other communications.
Jon C. Ogg
February 23, 2007
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