Understanding that you can’t drill for oil if you don’t have the equipment to do so, savvy traders are preparing to line their pockets with profits from Blue Fire Equipment Corp. (BLFR). The newest penny stock incubated by The Loev Law Firm, PC, BLFR stock began trading on Monday and already spotters have found ads for the Polycrystalline Diamond Cutter developers on some very reputable financial sites. With a float smaller than a Southeast Asian fisherman’s boat, it’s just a matter of time before the $1 and $2 levels are broken making the buyers of the 15,000,000 post-split shares extremely wealthy.
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BLFR Stock Quote
Market Cap: 19.35M
Last: 0.56 ▲ +0.01 (+1.82%)
Dollar Volume: $52,243
Issued and Outstanding: 33,947,368
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Focused on making oil production cheaper by using their patented drill bits which claim to run cleaner and cooler, resulting in higher rates of penetration and longer run times, BlueFire Equipment Corp. may look like Georgetown Corp. (GTCP) from a web point of view, but make no mistake, BLFR is ready to go jogging, not sliding.
Starting out in early 2012 by filing their S-1 with the assistance of David M. Loev and John S. Gillies of The Loev Law Firm, PC, BlueFire Equipment offers Polycrystalline Diamond Cutter drill bits which they have developed which are are 7 7/8 and 8 3/4 inches in diameter. With plans to expand their product line to include drill bits of 11 inches and 12-3/4 inches in diameter, BlueFire is looking to carpet bomb the oil and gas well drilling industry which, as many can imagine, is a huge niche market.
Prior to the recent 2-for-1 stock split, there was only 16,973,684 shares of BLFR stock issued and outstanding. Factoring in the 2-for-1, Chief Executive Officer, President, and sole Director, William Blackwell, owns 1,067,368 shares, and Tyson Rohde, Chet Gutowsky and Anatoli Borrisov, BlueFire Equipment’s founders are the beneficial owners of 18,000,000 post split shares which were sold to Dome Capital LLC in a private transaction for an aggregate of $900,000 or $0.10 per share pursuant to a promissory note.
Tyson Rohde is the key ingredient here to try to gauge what BLFR will play out like. Rohde was previously the Chief Executive Officer of Go Solar USA, Inc. (GSLO) and can be connected, to Andrew Farmer, the comb-over guy from the hard mailers, and his crew who have also been involved with:
DoMark International, Inc. (DOMK);
Sunrise Solar Corporation (SSLR);
Evolution Solar Corp (EVSO);
Emerging Healthcare Solutions, Inc. (EHSI);
Onyx Service & Solutions, Inc. (ONYX);
Chimera Energy Corporation (CHMR);
Nova Mining Corp. (NVMN); and
Solar America Corp. (SOLX) which is now Horizon Energy Corp. (HORI)
The list has some flat runners in it, but it also has some huge winners like DOMK and CHMR, both of which were spotted, just like BLFR was today, on some very reputable financial websites like WSJ.com when they were in their prime.
Back in August, 7,500,000 pre-split (15,000,000 post split) shares of BLFR stock were offered at $0.01 to private investors. Factoring in the split, the 15,000,000 shares carry a per share cost basis of just $0.005.
On Monday, BlueFire Equipment announced that the Company intends to relocate its corporate headquarters to an ultramodern space which is expected to include state-of-the-art information technology and improved amenities, that the Company hopes will result in greater staff productivity and efficiency over the previous location. The PR release coincided with the release of BLFR stock on the market and it couldn’t have happened at a better time.
About BLFR Stock
BlueFire Equipment Corporation is a development stage company focused on developing proprietary technologies for use in the exploration and production of oil and gas, primarily the developed and tested proprietary Polycrystalline Diamond Cutter drill bit of the company which has completed more than 20 drilling runs in Oklahoma and West Texas.
BLFR Trading History:
With Biozoom Inc. (BIZM) getting suspended today by the SEC and the 6 month anniversary of when Echo Automotive (ECAU) kicked off just days away, getting ahead of the pack by having BLFR on the list of penny stocks to buy now couldn’t have come at a better time. Looking for this to be an opportunity for some substantial profits in the dead of summer, keep a close eye of BLFR stock today and the remainder of the week.
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