Since the beginning of March, shares in the penny stock of newly renamed Extreme Biodiesel, Inc. (OTC: BRKM) have been seeing attention from speculators of a possible breakout. Looking to capitalize on the swiftly growing biodiesel industry and the applications the Company has proven to work in the real world. BRKM front loaders have been having to do only one thing all month – average down. With Friday looking to be the day the sliding ends and the climbing begins, this one looks like it’s going to be the “play of the day.”
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BRKM Stock Quote
Market Cap: 476.66K
Last: 0.0038 ▼ -0.0021 (-35.59%)
Dollar Volume: $4,295
Issued and Outstanding: 149,438,500
1st Resistance Point: 0.0053
1st Support Level: 0.0029
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With Steve Hayden III and Steve Hayden IV, as well as Don Bonnet, having each dropped some coin in the development of Extreme Biodiesel in the last few years, the trio believed that there could be a market and way to commercialize bulk bio-diesel fuel, personal biodiesel processors and related products. They weren’t wrong since the Company booked revenues of $32,924 for the 3 months ended September 30, 2012, $105,342 for the fiscal year ended June 30, 2012.
Since BRKM stock began seeing activity in the beginning of this month, the Company announced two important updates the give reason to consider why the penny stock may be “the play of the day” today:
On March 5, Extreme Biodiesel announced that their proprietary biodegradable glycerin based form and asphalt release product, Eco Slide, successfully concluded its initial “real world” testing with positive results. Eco Slide, developed at and by the Company and their expert staff, creates a slippery, Teflon type effect on construction material when sprayed on forms or trucks before they are loaded with asphalt or concrete.
Retailed between $3 and $6 a gallon with the potential to be marketed as high as $10 as exposure increases, the primary buyer of Eco Slide has purchased in the range of 80 thousand gallons of the proprietary solution over the past two years. That’s between $240,000 and $480,000 based on their estimates and equal to roughly the revenues from fiscal 2012 and 2011; $105,342 and $146,057, respectively.
On March 11, The Company announced that it had begun discussions with an existing client to develop plans to acquire the Company in an effort to expand its corporate scope of operations. The candidate, a profitable well-established Southern California based oil recycling company, is said to have been in business for roughly 25 years with a fleet of 35 trucks running on the successful conversion of used cooking oil.
As per the last Q filing, during the 3 months ended September 30, 2012, Extreme Biodiesel converted $10,000 of a stockholder’s debt to 10 million shares of BRKM stock, a cost basis of $0.001. Another 2.2 million shares were issued to 2 officers of the Company, Joseph Spadafore, Corporate Secretary, and Richard Carter, President, Chairman and CEO, for unpaid salary.
Prior to that, as per the K filing for the year ended June 30, 2012, theses Officers and Directors, individually and as a group, directly owned:
|Name, Title of Beneficial Owner||Amount of Beneficial Ownership|
|Richard B. Carter, Esq., President and Director||25,008,500|
|Joseph Spadafore, Secretary and Director||25,008,500|
For a float of just 47+ million on a sub penny stock, you really can’t see much wrong with BRKM stock as a solid play for Friday and a good one to consider again at the open on Monday.
Considering that I witnessed a Bloomberg piece the other day of an Israeli company who has designed a car which runs strictly on water, times are a changing and these alternative fuel companies like Extreme Biodiesel are today’s version of the 1980’s computer manufacturers. One of these alternative fuel companies is going to be the Microsoft of its industry. Whether it’s BRKM or not, the stock is prepared to run today and traders are advised to keep a close eye on the gap up open.
About BRKM Stock
Extreme Biodiesel, Inc., focused on creating awareness while providing a cost-effective, high-quality alternative diesel fuel, creating “green” jobs, reducing the environmental impact of fossil fuels and diminishing U.S. reliance on foreign oil, develops, markets and commercializes bulk bio-diesel fuel, home bio-diesel processors as well as increases capacity of the related waste vegetable oil and brown grease inceptor/grease trap cleaning and collection areas of Extreme Biodiesel.
Last 5 Trading Sessions:
Bottom Line: BRKM is seeing the tiniest of awareness today but should still be considered a great penny stock to watch for a Friday play. Based on the consistent updates coming in from Extreme all month and the cheap share price of BRKM stock, the potential upside far outweighs to potential downside. As always, mind the gap and remember — it’s Friday you ba(r)stards!
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