There is no joke involved with the volume being moved on the penny stock of Punchline Entertainment Inc. (PUNL). Announcing their application to FINRA to change their name to Punchline Resources Ltd., PUNL stock has traded $1,538,652, 1,608,825 shares, as it sits at 0.96. The name change indication is a clear sign of things to come which makes today the first day to load up.
The first big deal to end the summer, get PUNL stock on your list of penny stocks to watch immediately. Rumor has it the Company has initiated discussions to potentially acquire interests in one or more gold exploration and development projects.
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PUNL Stock Chart
Dollar Volume: $1,538,652
Average Trade Size: 19,619
Outstanding: 50,000,000 as of June 14, 2012
The name change is to reflect theCompany’s new mineral exploration and development focus is sign number one this is going to be a deal similar to Independence Energy (IDNG). Once the stock price climbs to the $4-5 level, then a forward split would be likely and lock in investors for 20 days which will be when the price crashes.
On November 4, 2009, Michael Thiessen bought all of Nikolai Malitski’s 30,000,000 of Punchline’s outstanding common shares for $30,000, 0.001 per share. On closing the deal, Thiessen obtained 60% beneficial ownership interest in the Company, acquiring controlling interest of the Company.
On August 14, 2012, Thiessen resigned as President, CEO, Secretary, Treasurer and Director. Concurrently, Ramzan Savji was appointed to replace him whereby Punchline entered into a consulting agreement with him to serve as CEO and President for a year. For the next 12 months, Savji will get $2,500 per month which can be terminated by providing at least thirty (30) days prior written notice.
So basically, Savji will be the front man for PUNL as he was for Toron, Inc. (TRON), a mineral exploration company located in Montreal, Quebec, Canada, where he sat as V.P., Secretary and a member to the BoD.
About PUNL Stock
Punchline Entertainment, Inc. was a development stage company that intends to place vending machines in venues such as bars, pubs and nightclubs in the Seattle, Washington area. Their failed core business was placing of strength testing amusement machines called “Boxers”, in various venues in the State of Washington.
Now, Punchline Resources Ltd. is an emerging mineral resources company focused on both domestic and international exploration and development projects.
Bottom Line: The penny stock of Punchline Resources (PUNL) is looking like a classic SMA deal and anyone looking to get in now, under $1, is making a smart, long, move.
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