The following questions need to asked if we are to even begin to believe that these gross revenues are even remotely possible:
In order to try and explain how the company was going to execute this new commitment to deliver every month 300,000 metric tons of heavy fuel oil it doesn't own and has no money to buy, BYSD announced a deal with C-Trade Group, Inc., who is to provide $160,500,000 in funding. C-Trade has its own dubious connections, including, "Lord" Neil B. Gibson, a professional scam artist who likes to sell himself as a British aristocrat. Gibson has been involved in everything from Pump & Dump schemes to phony financing schemes, to phony gold note schemes, to phony International Bills of Exchange (IBOE), through his pretend finance arms, Handels Securities, Ltd. and others. Handels Securities, which claimed to have offices in Belize, had been rebuked by the Central Bank of Belize. Currently, Gibson operates under SFBBL Trust AG, an entity that has changed names many times to keep one step ahead of Gibson's schemes. Gibson is also connected to fraud artists, Anthony Hruska and Michael Osborn, the latter of which is a convicted felon. Here is some more on the "Lord".
- Would the company have only a $5 million market cap? Not only is the market cap tiny. But it has become tinier since the initial euphoria created by the news and the pimping by the newsletters wore off. Even the gullible public, who is usually ready to swallow anything thrown its way is questioning this impossible news.
- Would the real players in the sector not be involved in a deal this big if it actually existed? At least they own assets to cover the requirement of the contract.
- Would a promotion of the stock even be necessary to bring attention to the company, never mind the blatant Pump & Dump that this lie is perpetrating?
- Would the share price have fallen 66% since the last day that the lying touts issued lying newsletters about this lying company, eight days ago?
In summary, and needless to say, there is no funding now or coming anytime soon.
So what are the touts on about now? How about the company's announcement that it will spin off today, as a dividend, the very subsidiary that owns this pretend mega deal. But wait! What the touts haven't told you is that, according to the BYSD's own press release of Wednesday, that the decision to spin off was made last February, and that the dividend will go to shareholders of the company as of February 28. Interesting, considering that back then, insiders owned almost all of the shares in the company. So in other words, what they've intended to do is screw the pigeons who bought the stock last week! What's even worse is that we can't find a filing which records that the Board of Directors made this decision last February or ever! It sounds like the back dating of meeting minutes are in order. Oh and one more thing, where is the application to FINRA? Isn't this supposed to happen tomorrow? Isn't the spin off supposed to be filed with FINRA?
In summary, even if the deal is true, and it's not, those who bought the stock recently, and those who will get conned into today's Pump & Dump, have been victimized. They get nothing!
What puts us beside ourselves is that this stock is still trading at all! With all the cease trading orders coming out these days, we think that it is inevitable that this one will be unceremoniously stopped in its tracks at any time. We've already provided plenty of other rational for that expectation in our previous advisory on BYSD.
Editor's Note: Since we first put this blurb out to our subscribers in our morning Daily Trades Reports summary, BYSD has issued an additional press release which furthers confuses the dividend scheme. According to the company, "As a result of the spin out, Bayside Petroleum Company, Inc. will issue shares of its own Common Stock to its shareholders on a basis to be determined by the Board of Directors at its next meeting." We were under the impression that the so-called "basis" was already determined in the previous meeting, as previously announced by the company. It looks like the chickens are running around with their collective heads cut off, trying to figure out what to say next in order to generate more interest in the stock of this worthless and asset-less company.