Grizzly Gold Corp (GRZG) – research report

Published On August 29, 2012 » 1844 Views» By nodummy » Open, Research Report

 

Grizzly Gold Corp (GRZG) saw its first day of real volume on Tuesday with 51,000 shares traded. Before that only 3,000 shares of GRZG had traded ever. Because of the sudden new life of the stock I decided to spend some time researching the ticker.

 

Preparing the shell

Grizzly Gold Corp went public as BCS Solutions Inc.  The sole officer/director and shareholder of the shell (with all 12,000,000 shares outstanding) at the time that it went public was Tyler Vorhies. 

Despite being from California, Tyler Vorhies registered the BCS Solutions Inc shell in Florida on April 20, 2010.  On June 8, 2010, an S-1 filing was done to take the shell public.  The shell had no real business operations, just forward looking business plans to offer a service to companies to improve and simplify their accounting on the invoicing/accounts receivable side.

Eight days after being granted public trading status, 1,200,000 shares were sold to 24 private investors (seed shareholders) on October 20, 2010 for $.01/share ($12,000 total).

On March 28, 2011, those 1,200,000 shares became 20,400,000 shares after BCS Solutions, Inc conducted a 17:1 forward split.  Tyler Vorhies’ share total became 204,000,000.

At this point, Tyler Vorhies role as a nominee CEO was over.  On April 5, 2011, Tyler Vorhies returned 180,000,000 of his 204,000,000 shares leaving him with 24,000,000 shares.  He then sold those 24,000,000 and control of the shell to Jeoffrey Avancena for $230,000.

According to disclosure offered in the 8K for the change of control, Avancena had been unemployed since 2005 which sort of makes you wonder where he got $230,000 from.

 Jeoffrey Avancena assigned himself as a director and appointed Paul Strobel as the new CEO.

Paul Strobel is no stranger to publicly traded companies.  He was a director for Ranger Gold Corp (RNGC) in 2010 and 2011.  Besides being a director for RNGC, Strobel was also a paid consultant through his consulting firm, Western Recourses Consultants.  RNGC was used as a pump&dump back in the summer of 2011.

 

 

A quick glance at the RNGC filings shows that RNGC is linked to the following shells through common seed shareholders – TNUG, WEYI, BOIG, PGOL, and GRZG.

On May 1, 2011, BCS Solutions Inc sold another 3,500,000 shares at $.10/share to raise $350,000 in capital.  That capital was used to make the initial payments on a property option agreement for rights to acquire interest in a property located in Nevada known as the LB/Vixen Property.

David Lubin was brought in as the new attorney for the shell.  Through a merger with a newly created Nevada business entity, the name of the BCS Solutions Inc shell was changed to Grizzly Gold Corp on July 21, 2011.

Paul Strobel was given an amazing consulting agreement with Grizzly Gold Corp which included an hourly rate as high as $100/hour and full car expenses including up to $50/day for gas expenses.

On August 3, 2012, James Poulter was added to the mix as a Director for GRZG.  James Poulter had just recently resigned from Dakota Gold (DAKO).  Right after his resignation with DAKO, DAKO signed an agreement with Minquest.  The very same Minquest that had previously signed agreements with NSRS, TNUG, MEZE, and CNTO.  Both NSRS and TNUG would end up canceling their agreements with Minquest.  NSRS, MEZE, and CNTO are all Carrillo Huettel linked shells.

 

Present day

That takes us to present day.

The current share count for GRZG is 47,900,000 shares outstanding and 300,000,000 shares authorized.

GRZG does currently have property rights, but they do not have the cash available to make any significant progress with their mining properties or to keep up with future payments especially with the cushy consulting deal they made with Paul Strobel.

A break down of the outstanding share count is as follows:

Jeoffrey Avancena – 24,000,000 shares

Seed Shareholders are listed below along with other public shells they are associated with:

Jennifer Johal (WEYI) 85,000 (bought for $.00059/share)
Janice Robillard (WEYI) 85,000 (bought for $.00059/share)
Neil Horned (WEYI, BOIG) 85,000 (bought for $.00059/share)
Leslie Ralla (WEYI) 85,000 (bought for $.00059/share)
Aarondeep Basrai (WEYI) 85,000 (bought for $.00059/share)
Ruchy Basrai (WEYI) 85,000 (bought for $.00059/share)
Roy Nolasco (WEYI, BOIG) 85,000 (bought for $.00059/share)
Brian Uppal (WEYI, BOIG, TNUG, PGOL) 85,000 (bought for $.00059/share)
Daulat Nijjar (DAKO, WEYI, BOIG) 85,000 (bought for $.00059/share)
Harjinder Gill (WEYI, TNUG) 85,000 (bought for $.00059/share)
Charito Deguzman (WEYI, BOIG, TNUG) 850,000 (bought for $.00059/share)
Tej Purba (WEYI, BOIG, TNUG) 850,000 (bought for $.00059/share)
Gurpartap Singh Basrai (TNUG, RNGC, BOIG, WEYI) 850,000 (bought for $.00059/share)
Barinder Johal (WEYI, BOIG, TNUG) 850,000 (bought for $.00059/share)
Pam Gill (BOIG) 1,700,000 (bought for $.00059/share)
Ernie Sommerfeld (TNUG) 1,700,000 (bought for $.00059/share)
Brian Uppal (WEYI, BOIG, TNUG, PGOL) 1,700,000 (bought for $.00059/share)
Jiwan Sidhu (BOIG) 1,700,000 (bought for $.00059/share)
Anthony Praill (WEYI, BOIG) 1,700,000 (bought for $.00059/share)
David Uppal (WEYI, BOIG, TNUG, AMUG) 1,950,000 (1,100,000 bought for $.10/share and 850,000 bought for $.00059/share)
Pol Brisset (BOIG, TNUG) 2,300,000 (600,000 bought for $.10/share and 1,700,000 bought for $.00059/share)
Jason Bains (WEYI, BOIG, TNUG, DAKO) 2,300,000 (600,000 bought for $.10/share and 1,700,000 bought for $.00059/share)
Michael Ralla (WEYI, BOIG) 2,300,000 (600,000 bought for $.10/share and 1,700,000 bought for $.00059/share)
Paul Uppal  (WEYI, BOIG, TNUG) 2,300,000 (600,000 bought for $.10/share and 1,700,000 bought for $.00059/share)

 

There is a lot of money to be made by those seed shareholders.  The RNGC connection is interesting as well because of the way that shell was used as a pump&dump.  GRZG will definitely be one to keep in eye on in the future.

 

 

 

 

 

 

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3 Responses to Grizzly Gold Corp (GRZG) – research report

  1. Avatar of Anthony says:

    Nice investigation and excellent depiction of a pump and dump.

  2. ALiVE ALiVE says:

    GRZG 8k today

    On October 15, 2012 Grizzly Gold Corp. (the “Registrant”) closed a private placement of 250,000 common shares at $1.00 per share for a total offering price of $250,000. 

    http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=8515232

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