I wrote about Bioflamex Corp. (OTC:BFLX
, BFLX message board
) just yesterday
, but the following session deserves some attention.
BFLX closed up a staggering 248.67% at $0.523 on nearly 20 million shares. The news announced by BFLX hardly warrants such a performance; more so when you consider the financial situation of the company.
We didn't get any promotional mails before the session, however, since the close we got two tout mails.
The two promoting sites disclose different compensations; one - $20 thousand and the other $32 thousand ($52 thousand combined - 5 times the latest total current assets reported by BFLX). At the same time, the bodies of the mails are verbatim copies.
Both promoters claim they have "predicted" the performance of BFLX, but we hadn't received any other emails on BFLX before these.
After the session BFLX issued another press release about negotiations with a potential agent. This time for Malaysia and Indonesia.
Yesterday's events have pumped up the market cap of BFLX to about $48 million, which may prove too high even if BFLX were to ever deliver on its boastful sales projections. Still, it seems traders aren't concerned with the condition of the company itself.
It will be interesting to observe what happens with BFLX today. The promotions could push the price even further up, although without further business developments BFLX may struggle keeping even a fraction of the price increase.