Together with former Pump & Dump disasters Bioflamex (BFLX) and more recently Global Gaming Network (GBGM), current scam, Green Energy Renewable Solutions (EWRL), has lined the pockets of the perpetrators of these schemes with millions of dollars, all at the expense of the dupes who are easily lured by the charms of a snake oil salesman.
These criminal touts who just on Tuesday proclaimed, “Right Now I Am Guaranteeing At Least A 3 Day Massive Run! I GuaranDamnTee It” and “I am Serious This IS My Last Pick Ever IF EWRL Does Not Run Huge For 3 Days! Nothing More To Say that's how confident I am!”, are already in trouble with their “guarantee”, as EWRL closed down 30% yesterday. Of course, we don’t expect their guarantee, similar to the one recently made by the just-as-honorable-pimp, AwesomePennyStocks.com and its family, to be worth the cyberspace it’s written on. BDPS will continue to be the lying scoundrels they have always been.
In one last desperate attempt to save the scam and enable the dumping of more shares onto the public, EWRL and BDPS have concocted a “surprise” scheme, offering a dividend of stock to shareholders on record for the next 48 hours. That’s right, if you promise not to sell your stock for two more days, you will get one more share of stock, absolutely free! But you must act now! There hasn’t been this much hawking since Ron Popeil sold his Pocket Fisherman on TV.
The purpose of this dividend scheme is exactly this: keep the sellers who aren’t insiders away from the market for two days.
We’ve had a few readers write to us and ask us why this “dividend” isn’t just called a stock split. Well it sure looks like one, doesn’t it? Ah! But it’s a lot worse than a stock split and much more devious.
For one thing, don’t expect to have the double the amount of shares to sell into the market on Monday. You won’t. Here’s how this con job works. Sometime in the next few weeks, the dividend will appear as a stock certificate in your mail or at your brokerage account. This certificate will have a legend on it, preventing form being sold under Rule 144 for a period of six months. That’s right. You won’t be able to sell your stock for six months! Once the six months has expired, you will need to spend money and obtain an SEC attorney’s opinion letter as to its free-trading status. By the time the dividend stock is six months old (and probably a whole lot sooner), EWRL will have followed the trail of BFLX and GBGM and be worth practically zero. But here’s the best part, the current share price will still be cut in half on Monday, due to the dividend.
So, not only do you not get your dividend for at least six months, but the value of your current holdings gets automatically cut in half. Sounds like a good deal, doesn’t it?
Don't forget, we warned you about BDPS' GBGM scam and the lie about a 1.2 million share float, right when the scheme got started. We were right then, as we are now.