Violeta Slavtchevska

Bioflamex Corp (OTC:BFLX) Falls to Yet Another Low

by Violeta Slavtchevska March 29, 2012

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Since the promotions for Bioflamex Corp (OTC:BFLX, BFLX message board) started its stock has been on a constant sharp decline, reaching a new bottom each day. Yesterday's session was no exception, although the company announced a $10 million funding agreement two days ago. BFLX.png

BFLX dropped to $0.03 yesterday and the session closed at $0.035 for a share, or 16.67% lower than the previous close. Trading volume amounted 7.5 million traded shares, while technical indicators like the moving averages, MACD and RSI confirm that the share price could go further down.

Our database shows BFLX has been heavily promoted this month with the total amount paid as compensation to the promoters exceeding $592,000. As seen on the chart, however, neither news nor promotion could hold the market value high for a company that has no tangible assets and no operations.

On Tuesday this week, BFLX announced in a press release that it had signed an agreement for an equity offering of up to $10,000,000 that would be conducted at a discount to the market. The closing is subject to the S1 registration statement with the SEC becoming effective, however, meaning that the shares to be issued to the investor are not determined for a long-term investment.Bioflamex.jpg

Thus, it is doubtful if that funding commitment could actually serve as validation of BFLX "enormous market potential" as stated by the CEO, at least not until the company has approached production and market launch of any of its intended products.

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Comments 3

1. Guest
May 26, 2012, 05:28AM

Quotes I have been trading BFLX for a while now. I got alerted well before the volume started to pick up and because of this I was able to score a nice profit a few times. The report helped me get a better understanding of the stock and its trends. It’s always best to know and understand the stock before you buy. Check it out at whypennystocks.com (Kindly, copy and paste the link in to your browser.)

2. tmccloskey
March 29, 2012, 08:04PM

Quotes If I were you I would keep those shares since it will go up eventually since it will get promoted again. They are suppose to go into production around the 3rd quarter of this year. If that is true you will get a boost then. I wouldn't hold though if it gets back up to your price.

3. Guest
March 29, 2012, 12:16PM

Quotes If you were me (I hold 250 shares @ $.075 Buy in), would you hold onto them or dump them? I am new to day trading, so I am asking the question.
Dumping the shares would kust about wipe out my trading fund account.

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