As with most Stanton companies Bulova Technologies Group, Inc. (PINK:BLVT) generates serious interest and volume sporadically. Last Friday BLVT moved 16.67% up and closed at $0.07 on a volume close to the current average.
The stock could however have an active session today as on Jan. 15 a site started covering BLVT and published a video chart explaining the technical predisposition of the stock to make a move. For its services the site in question received $10 thousand and 25 thousand free trading shares from an unaffiliated third party shareholder of BLVT.
Bulova Technologies Group, Inc. has two subsidiaries; Bulova Technologies Ordinance Systems located in Mayo, FL and Bulova Technologies (Europe), which fulfils systems military contracts from the Clearwater, Florida headquarters and locations in NATO Europe.
The latest announcement made by BLVT dates back to Dec. 3 when the company released a shareholders update saying BLVT intended to conclude all SEC filings needed to become a "current filer"in January, 2011, additionally the PR proclaimed there were $630 million in outstanding, pending contract bids with the Department of Defense. Another point made in the update was that the company should complete the sale or liquidation of BT manufacturing by the end of December, additionally the company had launched a mortar shell exchange program through a subsidiary which it believed could provide $50 million in revenue in 2011, and finally BLVT said it would announce a shareholders' meeting early this year after the filing of its 2010 10-K Form
At this time there aren't any new SEC filings except a 10-Q for the period ending March 31, 2010 and a late filing notification for the 2010 10-K. There haven't been any new press releases either. According to the 10-Q in question, at the time BLVT had a little more than $3 million total current assets, $2.5 million of which were inventory, and total current liabilities in excess of $10 million. They were also operating at loss.
Apart from the questionable efficiency of BLVT, there are some other somewhat disturbing facts, like John D. Stanton being its "Principal Exec. Officer" and Stephen Gurba its CEO. Both these gentlemen have a rather tarnished reputation, which doesn't seem to get in the way of the sporadic surges in the numerous companies they are involved with. There is an interesting paragraph in the company's profile on its website which says "The Company is engaged in various lawsuits and litigation, none of which, either individually or in the aggregate, will, in the opinion of the Company, have a material adverse effect on the business or operations of the Company."
Even with all the talk about Stanton and Gurba, there is a great chance BLVT will get its surge sooner rather than later with the current paid IR campaign, as there are plenty of people who believe in their speculation skills, and a positive BLVT PR is not out of the question at all.