While it is always amusing to investigate the financials of pump & dumps, which are invariably horrible, Bryn Resources (Pink: BRYN) has to take the cake. BRYN is the new PennyStockChaser pump. The stock has almost quintupled from $0.04 to $0.19 in just two days, giving the company a market cap of $20.4 million.
What do investors idiots get for $20.4 million? They get a company with no revenues, no sales, and no assets! BRYN does not just lack a positive book value, it has no assets whatsoever. No cash, no property, no accounts receivable, no inventory, no prepaid expenses. Of course, like any crappy company, BRYN has plenty of liabilities and it thus has a negative book value of $648,000.
See the quarterly report here.
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0 thoughts on “Bryn Resources (Pinksheets: BRYN) has no assets!”
Where do traders fit in? I will take the ‘idiot’ column as long as it puts us up 200-300% as I was
Well, your profits from buying a pump & dump rely upon selling to others who are late to the pump and often believe the hype. Even among so-called traders I see plenty of people who hang onto these to long or buy unsuccessful pumps and lose money.
But you know all that. So this article is for those who don’t.
I’m not finding shares to short via IB.
Anyone following EONC?
been watching it for awhile. Not playing it here.
Shorted EONC at 3.95 and covered way too early at 3.75.
This might sound silly, but I swear to god the most reliable and consistent shorting performances I’ve seen are when there’s a Yahoo! website % gainers up over 80% (especially over 100%). Just about every time they have a major fade by the end of the day. It doesn’t matter what the news or what the cause. I should have stuck with the methodology.
I went through Bryn over this weekend and arrive to the same conclusions when receive the newsletters, but for me this is unplayable, this could go as high as they pumped, so no sure play while going up. And when will start going down…hahah thats going to be funny how fast is going to fall, so no shorts available, even now that is still going up in IB there isnt. how u play this kind of pump and dump?
I’m not playing it. If there were shares I’d short on the first red day. But risk is much higher with these low-priced stocks.
HAHAHA I got in at 3.19, 1000 shares. Had to come down from a 200′ tall tower and drive back to my office to get it, where there is a will there is a way.
Short with Schwab. Piece of cake.
I’ve tried posting subtly negative comments about BRYN and its 10-Q on google discussions under several different gmail aliases. WIthin minutes, all of my posts are deleted or my gmail account is banned from the discussions. What a fishy company!