Banyan Corporation (BNYN)

[rca]

I had an associate who was looking for a mid-term penny play and found this BANY stock. He bought 2MM shares, thinking he was acquiring about 2-3% of its float. The company seemed legit and working on new projects, and he liked the transfer agent, transferonline.com (which is pretty modern). Then he found out about the prospectus and intention to dump 2BILLION new shares. We talked and I heard the Corey name, and it rang a bell since the same companies were converting debt to shares on the stock NTCV. Because of that, my associate sold the shares at a loss on the open market.

NTCV is a share issuance mill that is selling the stock at $.0001 to make Paul Taylor a couple of thousand a day. Prior to that it was a pump scheme touting false telecommunications projects.

(For those of you on this board that are not familiar with NTCV, I was appointed President of that company after a major fraudulent pump and dump. I determined that the majority controller of the company, Paul Taylor, was responsible for the fraud. Further research showed that Taylor had been issuing shares under debt for conversion using my name. When I instructed the transfer agent to cease any conversions, Taylor had Corey fax me demands for conversions directly. I refused to honor them (see www.netcoinvestments.info) and Paul Taylor purported to fire me from the position).

As for this stock, I'd be quite worried when the float goes from the millions to the billions.