This is a lottery-style Q-shell "possible corporate takeover/hijacking" play(I threw in hijacking because of the hype value!!). Could run to a legitimate .50-$1 pps for a 8m o/s clean shell or dump back to the .003's where it started in March.
BUNZQ has been dormant since the restructured company emerged from bankruptcy in July 2006 as a private company.
As of the latest share count going into bankruptcy, 7,338,661 shares of outstanding Common Stock were owned by approximately 280 beneficial owners and 4,500 shareholders of record.
Shares Beneficially Owned
Name Number of Class
Cahispa,S.A. de Seguros de Vida 678,028 9.2 %
Dimensional Fund Advisors, Inc. 526,750 7.2 %
Joseph G. Beard 1,200,950 16.4 %
Floor Mouthaan 10,000
Pike Powers 3,334
Raymond A. Rodriguez 28,169
John Sharp 3,334
Sarah Weddington 3,334
John C. Wooley 794,662 10.8 %
Jeffrey J. Wooley 157,651 2.1 %
Richard H. Valade 8,008
Darrell W. Kolinek 116,493 1.6 %
Joyce Cates 57,000
Karl Martin 67,766
Starting on or about March 1, 2007, there has been accumulation of the stock not related to short covering. There are only approx. 15k shares short at last count in March 2007.
As completely unbelievable as it sounds, could former beneficial owners either individually or as a group, or outsiders, be planning a "corporate RE-takeover" of the BUNZQ shell??
Crazy as it sounds, with such a small, family-owned 7.3m o/s, will a control block emerge to name themselves officers of this corporate vehicle again?
For example, a control block could include John C. Wooley, Jeff Wooley, Joseph Beard, and the Dimensional Fund Advisors Hedge and would only need to buy a million shares in the open market to reach 3.7m shares(51% majority) and complete a RE-takeover the "apparently clean" shell (approx. $10k @ .01). With clean shells currently wholesaling for $500k or more(remember that's WHOLESALE- retail would be trading the $4m range... see MLEX note below), $10k for a $500k shell would be a BARGAIN!
Could this be a MOTIVE and plausible scenario for what could happen??? Did someone get the crazy(or brilliant?) idea of buying up majority control of a low o/s corporate "Q" shell on the open market... for pennies on the dollar??
Even if the control block bought the 1 million shares for .25 they would still come out $200-$300k ahead compared to buying a clean shell. And since they are averaged down at .003, they might be willing to pay .50-$1 for the remaining shares they need in a bid for control. Compare MLEX now with approx. .50 pps for a clean shell with 8m o/s.
One thing for sure, no one can issue more shares than the 7.3m unless they have control, so it looks like it's a race for the 3.7m majority now.
Or maybe a "shell broker" from the "outside" has got some people together to hijack the BUNZQ shell with designs to then flip it. 3.7m shares would probably have to be accumulated then.
The chart below shows what's been bought in the open market since March 1, when the activity began, and with BUNZQ sitting at .003.
Unusual volume activity and BUNZQ's UNIQUE LOW FLOAT/FAMILY-OWNED SHARE STRUCTURE are the only evidence to support a "possible" takeover theory. At BUNZQ. there has been OVER 500K IN VOLUME ON A 7M O/S SUPPOSEDLY DORMANT SHELL SINCE MARCH 1... and with the pps building 5-fold from .003 to .015- looks like with recent upticks the past 2 days the float is drying up fast and the mm's have got wind of something going on- probably not that many cheapies left.
Why would somebody accumulate about 500k shares of a illquid stock, on a daily basis, that they knew they couldn't get rid of... unless there was something going on... UNLESS THEY HAD A PLAN!! If you look though hundreds of post-bk "Q" charts, YOU WILL NEVER see an accumulation pattern like the one here at BUNZQ since March 1, because either somebody pumps and dumps it in one day- or it flatlines forever. Nobody EVER accumulates Q stock because they know the market makers will naked short EVERY SHARE to infinity!
Ok, so why doesn't the accumulator just go all in at once to grab the his 51% control block? Apparently he was well short of his 3.7m goal when all this got started March 1- he was so far away he could not just come in and make a the big million(s) share buy then... its cheaper to just grab 30-40k at a time without alerting mm's or traders too. But now he's about 500k ahead of where he was March 1... he may be able to go ALL IN now if he sees competition.
Also, on his buying dayz, I've noticed this BUNZQ "accumulator" has been painting the tape on the bid side for a red close- maybe to avoid consistently ending up on the +100% top gainers lists.
This is NOT like the pump and dump Q stocks you've been seeing around IHub lately that have 0 volume for years and then 100m shares hits on pump and dump day- this is apparently REAL FRONTLOADING HERE, every day- slow and steady for 6 WEEKS STRAIGHT:
3/1/2007 0.009 0.009 0.009 0.009 15000
3/2/2007 0.009 0.009 0.009 0.009 5176
3/5/2007 0.003 0.01 0.003 0.01 24750
3/8/2007 0.01 0.01 0.004 0.004 8250
3/9/2007 0.01 0.01 0.004 0.01 10700
3/12/2007 0.008 0.01 0.008 0.01 47246
3/13/2007 0.01 0.01 0.009 0.009 30125
3/14/2007 0.004 0.008 0.004 0.008 1340
3/15/2007 0.005 0.005 0.005 0.005 23570
3/16/2007 0.012 0.012 0.004 0.004 36300
3/21/2007 0.004 0.004 0.004 0.004 100
3/23/2007 0.004 0.004 0.004 0.004 5900
3/26/2007 0.004 0.004 0.004 0.004 350
3/27/2007 0.0125 0.0125 0.0125 0.0125 1000
3/30/2007 0.0125 0.0125 0.01 0.0125 160000
4/3/2007 0.01 0.012 0.01 0.012 2375
4/4/2007 0.01 0.01 0.01 0.01 1610
4/5/2007 0.0125 0.0125 0.0125 0.0125 2500
4/9/2007 0.01 0.01 0.006 0.006 36600
4/11/2007 0.006 0.006 0.005 0.005 28900
4/12/2007 0.015 0.015 0.015 0.015 3000
4/16/2007 0.015 0.015 0.005 0.013 47000
4/17/2007 0.0075 0.015 0.0075 0.015 31100
A corporate RE-takeover of a bankrupt shell could be something that has never happened before. But with current shell prices going up on high demand, there's always a first time!
There are many possibilities here. With normal Q pump and dumps, the market maker can just naked short ALL THE SHARES TRADED that day because he knows its going back to 0- and so the stock is liquid on the way up, but illiquid on the way down. At BUNZQ, the market maker sees the accumulation, he knows the 7m o/s... HE MIGHT NOT BE ABLE TO NAKED SHORT BUNZQ... there's just enough doubt- that the crazy story could be real! So a multi-day run is not out of the question.
Another factor that could come into play in a positive way is the "accumulator" all of a sudden sees he has competition, and drops his bankroll on BUNZQ to grab whatever shares he needs RIGHT AWAY and thus ends up bidding up the stock FAST! Whoever is out there buying... has NOT shown any signs of slowing down- 4-18-07 could be the pivital day because the "accumulator" will now see the "IHub competition" on the screen for the first time.
BUNZQ- a unique opportunity to make 1000%, or lose 100%!! With Q stocks hot for whatever reason, this developing story could become IHub front page news overnight- but as with any stock, only the ones who get in first on the ground floor of the story get the maximum payout potential.
Or it could be all a load of bs... ya pay urr munny, ya take urr chances!
All pumpers and bashers have at it!
"Shell pirates take over Bunzq of Steelq"