BUYER GROUP INTL INC (PINK:BYRG) finally hit the
gain. After an impressive loss and a few days on the zero price change, on Tuesday BYRG soared 50% and sold over 1 million shares on the market. Since then, the stock trades at $0.0003 per share, while trying to climb higher.
As usual, the up move has a reasonable explanation – promotions. In fact, these have not stopped since Sept 10 and the result is easy to be seen. BYRG has been regularly pumped up by stock alerts, which yesterday were still on.
The promoter is one and the same – Hot Shot Stocks, who has received $7.800 for the campaign this month. Though, the paying party is still unknown. In any case, the stock price is increasing and it’s interesting how far it may go.
Yet, Buyer Group made another move to ensure its market position. In end-September, the company reported the execution of a $13.5 million commitment to purchase interest by worldwide receipts and ancillary rights of 12 existing films.
Being reported, the positive news brought a 100% gain to BYRG for a day. Maybe that is the reason why pr-usa.net has published the same announcement once again this month. However, this time BYRG stock price did not change positively.[BANNER]
Meanwhile, the company’s financials remain disastrous. According to its 10-Q report, most of the assets come from goodwill and intangibles, while the cash points $nil. Besides, the company’s long-term commitments and contingencies jumped over $246 million.
All factors mentioned in the 10-Q create uncertainty about the company’s ability to continue as a going concern. Meaning that if Buyer Group does not acquire additional capital, it might be not able to continue its operation.
