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[Potse]

BNXR(.0075)...possible quasi-shell.....

24.63M shares outstanding
21.8M float
$185K market cap

Accumulated some shares of BNXR over the last couple of weeks. The price range around the .004-.007 area seems like a reasonable area for entry/accumulation, IMO.

Jeffrey Beckett (an activist shareholder, owns 2.83M shares of BNXR) filed a lawsuit in 2013 against previous management, accusing the parties of mismanagement and personal enrichment. As settlement of the lawsuit, Beckett has basically taken control of the company in late June 2015. All previous management/directors have resigned, and Beckett is now the Chairman/President.

I don't know if Beckett intends to continue BNXR's current area of operations (oil & gas), or if he is planning to turn BNXR into a shell and seek other opportunities for the company. Hence the reason why I refer to BNXR as a "quasi-shell".

I'm fully anticipating/expecting the possibility of seeing additional relatively intense periods of selling pressure, because there are a number of risk factors here: for example, high float percentage, possibly disgruntled/vindicative shareholders as a result of the lawsuit, possible debt/expenses related to continued operations or converting BNXR into a shell, etc.

But, all things considered, this looks like a potentially interesting situation. Beckett's cost basis on the shares he purchased is over $270,000 (around 9.5+ cents per share). I'm not 100% certain, but I think the "Jeffrey Beckett" that now controls this company is the founder of Retailvelocity.com and has significant connections/relationships with people in the areas of software, sales, marketing,etc.......

https://www.linkedin.com/in/jeff-beckett-5867348b