BUGS is no longer a hurricane play per se. At one time BUGS was a profitable business. But due to lack of interest and some change in politics it has dwindled to a one man operation without a facility big enough for production.
The ceo decided to reinvent the company by marketing green products (which we all know has become popular now) for household use. He even made the details public. He was in the midst of initiating his business plan when the oil spill happened.
Of course speculators pushed the price up thinking that since BUGS had the patents to oil eating microbes (and they do) they would surely profit in some way from the clean up. This may very well be true if Bob can lease the patents to companies interested in them to do just that, but you have to remember that BUGS is not in the throngs of operation right now, it's in the middle of reinventing itself.
What I think is great about penny/sub-penny plays is that you can put your money in an idea with a great story before it's popular and get out when it becomes popular. Bob could come out with a pr tomorrow that says they have contracts with oil spill and hurricane clean up companies and the stock would go through the roof, but I kinda doubt that's what's going on here or we wouldn't have seen the pr BUGS put out.
I'm sorry to those of you who got in based on speculation, only to have your hat handed to you, but this is a real company with a genuine coe who has not diluted his companies share structure for his own gains. Bob has a plan (though you might not like it) and is following through as promised. People who were in it for any other reason, can see that now and are selling off.
I too, as many of you do, hope that I'm wrong and soon there will be a pr that sends us to 5 cents, but I'm not going to expect a pps increase based on a massive hurricane, yet alone a report of possible future hurricanes.
My 2 cents for your perusal.
demented
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