The stock price of BLACK CASTLE DEVS (PINK:BDVI) has been frozen for two days already, though today it looks ready to 
climb. In fact, BCD has even prepared to grab the up move not only by the latest news released, but also by a supportive promotional campaign.
The news came up yesterday, when Black Castle issued a corporate update on its business activities and attracted investors’ attention. Along with the update, BCD announced that it has signed a letter of intent to purchase a bulk of ten single family homes in California from an accredited institutional investor. According to the announcement, BCD anticipates to finalize the agreement by June 30, this year.
There is a big chance for the positive news to influence the stock price today, though it is not the only support Black Castle relies on.
Along with the company’s announcements, BCD was promoted yesterday by Penny Stock Finder Inc. Neither any compensation, nor any paying party were related to the campaign, however, the promotion was certainly meant to re-ensure the stock price and the result should be seen shortly.
Black Castle Developments, Inc. is focused on the direct acquisition of non-performing notes and the development, operation and management of income-producing commercial and residential distressed properties. A couple of days ago, the company filed its 10-Q report, which however, looks quite contradictory.[BANNER]
According to it, BCD has more assets than liabilities in its balance, though its cash on hand is not sufficient to cover the company’s long-term debt. Apart from this fact, its cash flow from operating activities is negative, as well as the net cash provided by financing activities, which exceeded $175 million by March 31. Above all, BCD still has no properties of its own and no other employees except its director Mr. Jeff Holroyd. All that provokes additional questions about the company’s functioning.
Considering all these facts, it turns out that Black Castle exists mainly on external financing sources managed by a sole officer, meaning that the company is not able to support any operations by itself.
