A company that searches for Bigfoot is trying to raise $15 million
Flickr/Wayne Parrack
You will soon have another chance to invest in finding Bigfoot.
Bigfoot Project Investments filed for a public offering of stock on Tuesday, offering 20 million shares at $0.75 per share.
The company specializes in finding and documenting proof of the creature known as Bigfoot, according to a filing with the Securities and Exchange Commission.
"Bigfoot Project Investments Inc., plans to establish itself as the most reliable and dependable source for materials including documentaries, physical evidence, and eye witness accounts for the purpose of documenting the evidence of the existence of Bigfoot," the filing said. "Our major source of revenue will be the sale of documentaries and specials that follow our progress."
The company, based in Henderson, Nevada, is currently burning through too much cash and plans to offer stock in order to raise enough money to fund the development of its business plan.
The company has been attempting to raise enough money since the beginning of the year, previously offering 30 million shares to raise $3 million. According to the filing, over 208 million shares, owned by 116 shareholders, are outstanding, but no shares have ever traded.
Bigfoot Projects currently has revenue of $5,440 per year, based on the filing. It also lost just over $25,000 last year. No brokers or underwriters are on the offering.
The company cautioned investors that a number of risks are involved in investing in offer, including:
- The company's auditors have issued a warning that the company may fold at any time.
- The company is burning through cash at an annual rate of $50,000 to $500,000.
- Consumer preferences may change, and no one may want the DVDs the company plans on making.
- Because there is no current market for the stock, there is no proof that investors may not be able to resell it.
The company has been authorized to trade over the counter (not on any stock exchange) under the ticker BGFT.