Hungry? Well, even though there is no food to cook, tables to sit at, or drinks ready to be served, the penny stock of Blue Water Restaurant Group, Inc (BUWR) grabbed the attention of many as it began to trade today. Hoping to open a restaurant one day in the Caribbean (like many of us have all dreams of doing), shares of BUWR stock burst triple digit gains off the open after announcing that Scott Sitra will now be the sole director of the group after Michael Hume decided to step aside. With a colored past from involvement from previous penny stocks, some traders are curious to see how long this incredibly low float can stay above water without sinking.
Note that in about a month, BUWR will soon change to BLUU.
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BUWR Stock Quote
Market Cap: 3.78M
Last: 0.21 ▲ +0.11 (+110.00%)
Dollar Volume: $5,771
Issued and Outstanding: 18,000,000
J. Scott Sitra: 5,700,000
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With no business recorded to date, development of the Blue Water Bar and Grill appears to be in stage 1: Financing. Seeing shares of BUWR stock begin trading soon after the announcement that Sitra was named as the news CEO, President, Treasurer, Secretary, and sole director makes sense considering the history that’s has followed the long-time penny stock promoter.
J. Scott Sitra, 41, concurrently serves as the President and CEO of Taurus Financial Partners, LLC, an international management and financial consulting firm specializing in assisting small and promising businesses with obtaining and maintaining a public listing on the OTC Bulletin Board that happens to own 5.7 million shares of BUWR stock.
While Sitra founded Taurus in February 2010, his history with the SEC dates back to the late 90’s when Sitra was named as a co-defendant in an SEC complaint regarding the disclosure of compensation received to tout Great White Marine and Recreation, Inc. (see here). While the infringement may be overlooked as a silly misunderstanding, the fact of the matter is the incredibly attractive float for BUWR stock looks so tasty, that knowing where the fish you are about to eat came from is almost as important as the seasoning put on it to spice it up a bit.
When we talk about attractive float, what do you make of this:
· 11,000,000 shares to its officers as Founder’s Shares;
· 5,700,000 shares to Taurus Financial Partners, LLC for assisting with the creation and early development of our business, including incorporation and formation assistance, preparation of an offering prospectus and related registration statement on Form S-1, and continued EDGAR filing support and services. These shares were valued at $50,000, or $0.01 per share, based on the value of the services provided;
·2,000,000 shares to Island Radio, Inc. (OTCBB: ISLD) in a stock exchange where the Company received 2,000,000 restricted shares of Island Radio’s common stock. These shares were valued at $20,000, or $0.01 per share, based on the previously established value.
Mathematically speaking, that would make the float on BUWR stock roughly 300,000. Have hook, will fish.
About BUWR Stock
Blue Water Restaurant Group, Inc. is a development stage company planning to open its initial restaurant, Blue Water Bar & Grill™, in St. Maarten, Dutch West Indies.
BUWR Trading History:
It’s hard to tell anything about how BUWR stock is going to trade as of yet. It could wind up being the hottest penny stock of the summer or the smelliest fish in the bucket is they water down the drinks like most typical tourist traps in the Caribbean do. For now, the level 2 is showing that the bid/ask on BUWR stock is 0.15/0.10 which is more likely the entry level any risk taker could consider taking a dive at this one at.
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