Today Bayside Corporation (BYSD) was promoted by numerous 3rd-rate stock promoters. Coinciding with the promotion, the company put out an absurd press release yesterday touting a huge purchase order. This was only the company’s second press release this year (the first one was a week ago). Here is an excerpt from the press release:
DALLAS, July 23, 2013 /PRNewswire/ — Bayside Corp. (BYSD) today announced that the company has been awarded a purchase order to supply 3,600,000 Metric tons of heavy fuel oil exports annually.
Additionally, the order represents approximately $160,500,000 in gross revenues every month for the next thirty-six months. Heavy fuel oil exports is the first step in the company’s long-term expansion plans to develop its oil and natural gas business in the international marketplace.
Gordon Johnson, Chairman of Bayside Corp., was quoted saying, “we are thrilled to expand our revenue base with international heavy fuel oil export orders.” Furthermore, the contractual finalization of the purchase orders and the heavy fuel oil exports is expected to be completed within the next 30 days.
Thanks to Pumpsanddumps.com for pointing this out (see their article on BYSD). Extraordinary claims demand extraordinary proof and I cannot imagine any crappy penny stock company (particularly one with a $4 million market cap as of yesterday) ever receiving such a large order. With the stock up 93% to $0.009 as I write this, I anticipate the stock dropping by over 60% in the next day or two even if the stock does not get suspended.
I previously thought that SKTO would likely get suspended by the SEC but that never happened.
[Edit 2013-7-25]: See the Promotion Stock Secrets article on BYSD.