BUYER GROUP INTL INC (PINK:BYRG) has been stuck into the zero price changes for two weeks. Since end of August, the stock 
price points $0.0002 per share and nothing has changed so far. Though, the situation may finally look a bit different today.
After two days of promotions last week, a few hours ago an impressive announcement on BYRG was released. The website pr.com reported that Buyer Group International, Inc. has received a letter of intent from Gryphon Productions Ltd. in connection with a proposed private placement offering up to $3 million. The offering was made in exchange for interest in BLOOD WILL TELL, a feature motion picture for worldwide theatrical release in 35mm scheduled Spring 2012.
The positive news looks like another desperate effort for pumping up BYRG stock price, starting by its traded volume. In any case, considering the fact that Buyer Group has not released any announcements on its business since June, there is nothing else to support the stock alerts. [BANNER]
The last news published appears to be the company’s quarterly report, which looks disastrous. According to it, most of the assets come from goodwill and intangibles, while the cash points $nil. At the same time, the company’s long-term commitments and contingencies are 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.
