Brookfield Resources, Inc. f.k.a. Movie Trailer Galaxy Inc. (OTC:BFLD)’s Shaky First Steps
If you believe everything you see on the Internet, you would probably think that Brookfield Resources, Inc. (OTC:BFLD) are a small company that has started out just a couple of months ago. If you don’t dig deeper, you might even believe that they are fairly close to starting operations. You’d be wrong.
Indeed the ticker symbol BFLD appeared on the market fairly soon (September 2012) and it has hardly been traded. The company however, did exist before that. It was incorporated in 2010 and it was called Movie Trailer Galaxy. It was supposed to develop a website through which you could read all about the newest Hollywood blockbusters. The website is still up and running, although it hasn’t been updated for quite a while, but back in September 2012, Movie Trailer Galaxy decided to stop this business and, instead, turn to the mineral exploration industry.
Mr. Matteo Sacco was appointed as a CEO, President, CFO, Treasurer, Secretary and every other managerial position you can think of. An interesting part of the story is that Mr. Sacco owned some mineral resources claim rights before he entered his office. He sold the rights to the company and in exchange, he received 298 million shares of common stock. Which means that if the price is right, he might be able to sell them for a huge profit.
Mr. Sacco is not new to being a CEO of a small cap company. We found that he is also the President of Hear AtLast Holdings, Inc. (PINK:HRAL). You can see the chart on the right and draw your own conclusions about the health of the company. You should also have in mind that they were promoted back in February which didn’t really help. And in case you are wondering about their financial state, the last time they filed a report, which was back in 2011, they said that they have $18 in the bank and $3.2 million in liabilities.
BFLD‘s shareholders should be keeping their fingers crossed that Mr. Sacco’s new venture is more successful than this one. Looking BFLD‘s current financials, though, things are not looking too encouraging:
- no current assets
- mineral resources claim rights: $26 thousand
- total liabilities: $42 thousand
BFLD did put out some news yesterday that they are about to start the initial stages of the exploration on their mineral resources rights. Looking at the figures above, we are struggling to believe that this is true. Even if it is, they will have a long way to go until they start digging. Even if they do manage to do that, they might not find what they are looking for, which is always a risk with a mineral exploration company.
Paid advertisements and promotions are certainly not going to help bring the company into contention. Especially with a promoter like Penny Stock General. Just a week ago, they promoted MineralRite Corp (PINK:RITE). As you can see from the chart, RITE stood no chance at all.
Even if you disregard the facts above, investing in a company that has started a new business just a couple of months ago, has no money in the bank and deals with unproven properties for mineral resources, is just too risky. We would advice you to be extremely careful with this one.
