{"id":2340,"date":"2013-08-21T11:12:31","date_gmt":"2013-08-21T11:12:31","guid":{"rendered":"\/?p=2340"},"modified":"2013-08-21T11:17:10","modified_gmt":"2013-08-21T11:17:10","slug":"bluforest-inc-otcmktsbluf-drops-as-activist-george-sharp-moves-in-with-lawsuit","status":"publish","type":"post","link":"\/articles\/bluforest-inc-otcmktsbluf-drops-as-activist-george-sharp-moves-in-with-lawsuit\/","title":{"rendered":"Bluforest, Inc. (OTCMKTS:BLUF) Drops as Activist George Sharp Moves In with Lawsuit"},"content":{"rendered":"

The promotion for Bluforest, Inc. (OTCMKTS:BLUF<\/a>) seems to have run its course, despite the ongoing barrage of emails. No new messages came August 20th, so far. BLUF<\/a> suddenly deflated in volumes on Monday, down to $290,000, and lost another 13% to stand at $1.31. But that may not be all of the fall- an old lawsuit surfaced for BLUF<\/a>, with investors complaining of misleading press releases back when the company bore the name of Greenwood Gold Resources, Inc. \"BLUF0829.png\" <\/p>\n

With the BLUF<\/a> newest promotion clocking in at a total of $420,000, we see that old history repeating. But this is not all- the complaints is added that BLUF<\/a> overstated the value of its forest properties in Ecuador, and there is even questioning if those assets exist at all, much like the purported purchase of a gold mine that never was. \"XUII0820.png\"<\/p>\n

Even without those devastating news, BLUF<\/a> was shaky and the promotion did not create a huge effect. Still, at $1.31, the ticker has a long leeway for a dramatic crash, given that this is the second time the company’s directors used paid promoters to disproportionately inflate the stock price.<\/p>\n

Up until the lawsuit news broke, BLUF<\/a> hardly looked like the real deal, with very limited financial resources:<\/p>\n