How Many More Bids Will BizAuctions (BZCN) Accept?

For two straight trading sessions, the penny stock of BizAuctions, Inc. (BZCN) has been seeing a ferocious amount of activity with yesterday’s average trade coming in at $8,625 which is more than the dormant eBay overstock sellers have generated in sales during the first 3 months of the year. Quiet as a mouse since their last PR issued on July 28, 2011, shares of BZCN stock are suddenly becoming an attractive ticker for no reason at all except to speculate that some commercial liquidation services for excess inventory is being conducted in advance of a promotion later this month. Although there has yet to be any comments made by CEO Delmar Janovec, previously misstated financial statements could mean that some ridiculous sales projections for the remainder of 2014 are due to come.

Our Next Pick Is Coming Soon!
Click
HERE To Make Sure You Don’t Miss Any Of Our Hot Penny Stock Alerts!

BZCN,BZCN Stock, BZCN Stock Chart, BZCN Stock Price, BZCN Stock Quote, BZCN Stock Report, BZCN Stock Review, $BZCN,#BZCN, BZCN Scam, BizAuctions Inc., BizAuctions Stock,BZCN Stock Quote

Market Cap: 8.84M
Last: 0.0899 ▲ +0.0251 (+38.73%)
Volume: 2,371,366
Dollar Volume: $155,252
Open: 0.08
High: 0.0899
Low: 0.064
Trades: 18
14-Day RSI: 63.19%
1st Resistance Point: 0.0985
1st Support Level: 0.0726
52Wk High: 0.14
52Wk Low: 0.0025

BizAuctions works in a way which Fortune 500 companies of small Mom & Pop stores can contact them to dump their items onto eBay so that they don’t have to go through the hassle of it. However, a big red flag gets thrown up when looking back at what the Company was reporting to be revenues in 2012 and 2011 as compared to when they reported their 2013 annual report in April which shows quite a large difference from what appears to be a massive overstatement during those 2 years.

Business at BizAuctions has been dwindling since 2012 with revenues having been reported to be just $42,532 for the year ended December 31, 2013 compared to $167,203 for the same period in 2012 and costs to generate those revenues producing a negative gross profit for both years. The first quarter of 2014 didn’t show much promise either as those numbers, $7,550, are roughly 33% of the abysmal $21,768 reported for the 3 months ended March 31, 2013 even though the Company did put up positive gross profit numbers ($550).

Looking back at where the shares that are being sold over the last 2 trading sessions came from, during the calendar year 2012, BizAuctions issued:

  • 33,333,300 shares of common restricted stock at $0.015, per share, to an officer and director of the Company in exchange for a partial reduction of a note payable, in the amount of $49,999;
  • 1,090,910 shares of common restricted stock at $0.037, per share, to an officer and director of the Company in exchange for a partial reduction of a note payable in the amount of $40,367; and
  • 508,075 shares of common restricted stock at $0.02, per share, to an officer and director of the Company in exchange for a partial reduction of a note payable, in the amount of $10,162.

Regardless of the overstated revenue numbers from years past and a nearly 3 year hiatus from any news announcements, BZCN stock has become a very popular pinksheeter heading into the final trading session of the week. Closing at the HOD on Thursday solidifies that today should continue to be a session whereby cautious bidding is rewarded with sales at the price requested so as to help liquidate shares of BZCN.

Looking for the Best Penny Stocks to Buy?
Click
HERE To Receive FREE Penny Stock Alerts

hot penny stocks, hot OTC stocks, best OTC stocks, best penny stocks

About BZCN Stock

BizAuctions, Inc. is a development stage company operating as the prime provider of commercial eBay liquidation services for excess inventory, overstock items, and returns.

Click here to view the filings for BZCN.
Click here to view the website for BizAuctions.

Authorized: 20,000,000,000
Issued and Outstanding: 98,333,434

Last 5 Trading Sessions:

Date Open High Low Last Change % Chg Volume
06/12/14 0.0800 0.0899 0.0640 0.0899 +0.0251 +38.73% 2,371,300
06/11/14 0.0581 0.1100 0.0580 0.0648 +0.0078 +13.68% 3,738,900
06/06/14 0.0570 0.0570 0.0570 0.0570 +0.0030 +5.56% 25,000
06/04/14 0.0520 0.0540 0.0520 0.0540 +0.0040 +8.00% 200,000
05/29/14 0.0500 0.0500 0.0500 0.0500 unch unch 600

 

Bottom Line:

With today looking to be the 3rd solid session for BZCN, it would behoove the speculators to have it on the list of penny stocks to watch at the open. The sessions have been slow so expecting to see a flurry of volume at the bell is unlikely to occur unless Cohen and his band of Research Driven Investors decides to choose BZCN as their bag-alert at the open today.

facebookTwitterStay Connected With Us: 

Subscribe Footer

[gravityform id=”6″ name=”Post” title=”false”]

Last updated by at .

0