Bison Petroleum Corp. (OTCMKTS:BISN) Trundles Further Down

Yesterday’s market session dealt another heavy blow to the stock price of Bison Petroleum Corp. (OTCMKTS:BISN). Left without any sort of pumper support since last Friday’s pre-market hours, the ticker started rolling downhill and is picking up more speed as it goes along. Tuesday’s close saw BISN drop another 22% to a stop at $0.70.

The company’s story is as follows – no prior active trading history, a significant forward split executed before active trading had begun and then a very expensive, large-scale pump campaign to seal the deal and offload hugely overprices shares in the hands of investors.

In addition to BISN having very limited assets – namely $30 thousand in cash comprising total assets, and no history of revenue generation, the company’s reports state that its sole officer and director was issued 8 million BISN shares at $0.03 per share before this summer’s 8-for-1 forward split, which multiplied those shares and brought the price down to under a cent. The company’s ‘founding president’ was issued 12 million shares valued at $0.001 back in 2010. With no active trading before the pump started this October and the price having inflated wildly, traders should be able to put two and two together and figure out who potentially stands to profit wildly from selling at the current prices.

The first pump email for BISN landed in our database on October 29, with the ticker kicking into active trading on the previous day. The total production budget disclosed was $0.5 million. A number of smaller pumpers latched onto the ticker as well over the following sessions. The latest tout we received came on Nov 22, sent by promoter InvestorPlanet dot com. A landing page has been set up to help the pumping too, with the domain registered on Oct 28 – the day the promotion’s wheels started turning.

BISN is currently trading another 14% down, at $0.60 per share in the early session.