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Punchline Resources Ltd PUNL



GREY:PUNL - Post by User

Post by microbullon Sep 11, 2012 10:52am
365 Views
Post# 20347017

Pump and Dump

Pump and Dump

A quick FYI out there for anyone looking at the meteoric rise in the company and wanting to jump on the train. A group called World Street Fundamentals has just alunched a email IR campaign on the stock. The last company they did this for ( couple of months ago) was a company called Independence Energy (OTCBB: IDNG). They would put out 2-3 emails a day about how mcuha ction the company had going and all of thier meaning less almost daily new catalysts. Drove the stock all the way of to $4.81 on June 21, 2012. By July 5th, 2012 it was trading at $0.10, and now trades at $0.01. Just a warning.. The company changed its name last week from Punchline Entertainment, signed a mineral lease agreement on Spet. 7, 2012. Has only one individual named for thier management team, and newly named CEO, Mr. Ramzan Savji, has no discernable experience in the mining sector (he is listed as the VP and Corp Sec. of a company called Toron, Inc. which is also listed on the OTCBB's, odd as all of thier mineral claims are in Quebec, and the comapny has yet to initiate its initial drill program, trades at less than $0.01 and is financed by convertable debentures, which, though I have not read the term of such, usually means conversion, overhang, and additional downward pressure), and it looks from the latest 10-A filing https://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=8673060-876-71882&type=sect&dcn=0001398080-12-000032 that the company has no cash. I was unable to find the terms of the company's $1m debt facility, but I would expect that it has to be a covertable debenture that would look a lot like death sprial financing.... Final analysis: May the Buyer Beware...

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