Sell at market on market opening. I expect the stock to open at $0.025 maintain a price above .02 for 5-10 days and then go to $0. Expect volume of 300,000 tomorrow and lossing 15% volumn per day until there are no buyers. The pumpers will artificially try to keep the price above .02 until all willing investors have turned over their money.
From the September 30, 2016 Form 10-Q
Going Concern
The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate the continuation of the Company as a going concern. The Company reported accumulated deficit of $4,374,920 as of September 30, 2016. The Company also incurred net losses of $156,938 and $253,358 for the three-month periods ended September 30, 2016 and 2015, respectively and had negative working capital for the three-month periods ended September 30, 2016 and 2015. To date, these losses and deficiencies have been financed principally through the loans from related parties and from third parties.
In view of the matters described, there is substantial doubt as to the Company's ability to continue as a going concern without a significant infusion of capital. We anticipate that we will have to raise additional capital to fund operations over the next 12 months. To the extent that we are required to raise additional funds to acquire properties, and to cover costs of operations, we intend to do so through additional offerings of debt or equity securities. There are no commitments or arrangements for other offerings in place, no guaranties that any such financings would be forthcoming, or as to the terms of any such financings. Any future financing will involve substantial dilution to existing investors.
Subsequent to the period ended September 30, 2016, the Company entered into an equity line funding agreement with Spider Investments, LLC to sell up to $1,500,000 of our common stock, subject to certain terms and conditions some of which are out of our control, including the (i) filing and obtaining effectiveness of a registration statement registering the issuance of our shares of common stock under the Act to be issued pursuant to the equity line and (ii) certain volume and other trading conditions of our common stock. The Company plans to file the registration statement and to obtain effectiveness thereof as soon as practicable.
100 mil common shares are authorized with only between 38-58 mil issued. That means the company could possibly dump 42 mil shares on a pump.
The company is carrying an accumulated deficit of almost $4.4 mil.
They have cash of $8,000 and current liabilities of $2.6 mil. This company needs cash and one more pump and dump will not be enough.
Please read the SEC filings before buying this stock.
I offer my opinion to non-institutional investors to encourage them to do there own DD.
I do not own BANJ, have not sold short and will never take a position with BANJ.
AI
