First Sound Bank (fka FSWA)

[Lazarus]

I advise caution here. With nearly 300 million shares OS and a book value of ~ .045 and paltry earnings this stock does not look attractive.

I had a penny bank that was recovering well and it received a buyout offer. The problem was the buyout offer was LOWER than the price the stock was trading at. I call the bank president to find out WTF was going on and he said the offer was fair because the price represented the BV of the bank.

Insiders / bank execs - owned the majority of shares and they I'm sure the buyout was lucrative for them since they approved it.

HOWEVER -- that was a lesson learned for me because in all my years of trading it was the first time a company was bought out for LESS THAN THE TRADING PRICE OF THE STOCK.