"Mr.Biscardi and his partners hope to raise as much as $3 million by selling stock in Bigfoot Project Investments. They plan to spend the money making movies and selling DVDs, but are also budgeting $113,805 a year for expeditions to find the beast."Among the company's goals, according to its filings with the Securities and Exchange Commission: 'Capture the creature known as Bigfoot.'"Investment advisers caution that this IPO may not be for everyone. For starters, it involves DVDs, a dying technology, said Kathy Boyle, president at Chapin Hill Advisors. Then there is the Sasquatch issue. She reckons only true believers would be interested in such a speculative venture."
Species of blue-green algae announces IPO"LAKE ERIE – Seeking to capitalize on the recent IPO rage on Wall Street, Lake Erie-based blue-green algae Anabaena announced Tuesday that it will go public next week with its first-ever stock offering."Anabaena, a photosynthesizing, nitrogen-fixing algae with 1999 revenues estimated at $0 billion, will offer 200 million shares on the NASDAQ exchange next Wednesday under the stock symbol ALG. The shares are expected to open in the $47-$49 range."
"...Still, many investors said they are unsure whether they would be willing to take even a moderate risk on the stock. 'One thing they're not saying in the prospectus – and I've been through it thoroughly – is that blue-green algae aren't really algae. They're cyanobacteria,' said Jeanette MacAlester, a San Francisco-based stockbroker who is strongly advising her clients not to buy ALG."...'I don't know if I'd put my money in any bacteria, let alone one that seems to think it has something to hide.'..."
"Let's look at the fundamentals of the Ft. Lauderdale, Florida-based company. Based on the 18 million shares outstanding and a recent stock price of $6 the company has a market value of about $108 million. No matter how much you like grilled cheese...I can't see this as a reasonable valuation."
"Our business strategy is to lose money on every sale but make up for it in volume."