Hi surf, I see you still have strong trepidations about BFLX, although I am not sure your stated reasons are justified.
“For starters, BFLX has a jagged history.”
There is no jagged history for BFLX. BFLX is a new venture getting ready to launch operations and products in the very near future as described in Form 10-Q January 13, 2012. The former name you refer to (“Deer Bay Resources, Inc”) was a different enterprise involved in a completely different type of business, run by completely different people. The only connection here is that Bioflamex needed a shell to go public and they acquired the intellectual property of Deer Bay Resources, Inc as a shell for this purpose. It is a completely legal and common process that saves a huge amount of money and time for new enterprises wanting to go public. Otherwise I see no connection between the two enterprises.
The implication I got from reading your research was that something shady had occurred here ... ie a mining exploration company just switched to a fire extinguisher company and fire retardant company. That implication does not seem justified based on the available documentation. The founders spent several years preparing to launch this new enterprise and were not, as far as I can see, involved with the Deer Bay Resources, Inc business. See the Market Watch report: http://www.bioflamex.com/files/12/files/Bioflamex-1-pager.pdf
Surf: Part II (Pump and Dump) In your research statement you say you are calling out the CEO on this pump and dump issue implying there is something untoward in his behavior.
In a recent publication the CEO complained that the drastic drop in stock value was due to penny shorting and he justified his concerns. I find it highly commendable for him to take such a stand on this issue. "It appears that a very high volume of short selling has negatively affected the share price. There has been a slander campaign on the message boards, and even a press release about a sell-off issued by rocket alerts under our ticker to induce panic selling so the short sellers can profit."
"Bioflamex would like to make it clear that the officers, directors, and insiders of the company have not been selling shares. We are always committed to acting in the best interests of our shareholders, and will review this trading activity in the hopes of learning how we can prevent it from ever happening again," stated CEO Kristian Schiorring.
Your claim is that short shares are on limited supply and so brokers wouldn’t even have shares you can borrow to short. I checked on the OTCMARKETS site and found this: Short Selling Data Short Interest 128,644 (100%) Mar 15, 2012 Significant Failures to Deliver- No
We know there was promotional Pumping and Dumping activities but there is no evidence the CEO should be considered complicit in this. You noted that there was $500,000 in fees used to fund this activity and that the company did not have any money for that. You seem to be contradicting yourself by pointing the finger of blame at the CEO.
Surf Part III (The financials) You note that with 0$ in revenue the bottom line is obviously in the red and that they will only have enough to keep the lights on for a week or so. This is a harsh statement implying that the company is unable to make money. However, this startup business has a solid business plan, which is on course.
They stated in their January 2012 10-Q filing they would need a 2 million dollar cash infusion to begin operations, launch a full marketing and branding campaign, manufacture and deliver products and to begin and increase revenues from products. http://www.faqs.org/sec-filings/120113/Deer-Bay-Resources-Inc_10-Q/
They just closed a 10 million dollar financing deal and they are not a party to any pending legal proceedings. “We are not aware of any pending legal proceeding to which any of our officers, directors, or any beneficial holders of 5% or more of our voting securities are adverse to us or have a material interest adverse to us.”
Market Data 
Markets 
AI
