Bioflamex Corp (OTCMKTS:BFLX) Pops on the Radar
It’s been more than two years since we last wrote about Bioflamex Corp (OTCMKTS:BFLX). There’s a very good reason for this – nothing interesting happened around the company during that time.
The latest press release, for example is dated September 30, 2013. Trading volumes were tiny a week ago and the stock was firmly anchored to the low triple zero levels. Nothing suggested that a surge is coming and yet, that’s what we’ve seen lately.
Three positive sessions resulted in total gains of exactly 160%. Yesterday, BFLX closed the session above the $0.001 per share mark for the first time since September while the dollar volume at the end of the day stood at nearly $440 thousand. We’ve seen similar jumps being made by numerous other sub-penny tickers, but they are, more often than not, caused by either a press release, or a paid pump. With BFLX, this doesn’t seem to be the case.
As we mentioned already, there are no news coming from the company headquarters and there doesn’t seem to be a promotional campaign. Despite this, BFLX is surging in the right direction. There’s no shortage of people who think that the run will continue and some even reckon that the company actually has long-term potential.
The people around the message boards are indeed excited by the recent performance, but the fact that the run doesn’t seem to be caused by anything immediately obvious certainly adds a layer of risk to a potential investment. If you take the time to do some research, you’ll spot a few other problems.
According to the latest quarterly report (the one covering the period ended November 2013) BFLX has a total of two employees. Apparently, the workforce isn’t enough to support the company website which, as of the time of writing this article, appears to be down.
Then again, we can’t really blame them because, according to the report, the people who should keep the website up and running have no money to work with. Here’s a summary of the figures found in the statement:
- no current assets
- current liabilities: $383 thousand
- no revenues since inception
- quarterly net loss: $9 thousand
The fact that the principal offices are located in what appears to be a residential house in Denmark doesn’t really help with the company credibility and neither does the $500 thousand promotion that BFLX went through back in March 2012. We covered the pump and, as you can see from our articles, the effects on the stock were absolutely devastating.
And while we’re on the subject of paid promotions, we might as well mention that there are some people who would probably be happy to see the ticker getting pumped. The financial statements tell us that during the period ended August 2013, BFLX converted $43,149 worth of debt into a whopping 847,653,842 shares of common stock.
We’ll leave it up to you to calculate the conversion rate and decide whether the former creditors would want to hold on to the newly issued stock or whether they would prefer to unleash it on the market and make some tasty profits.
