Urban Barns Foods - Scam?

Well, well, well... I'm making a brief return, to comment on this company.

I was very very interested... stock is slightly above $1... they claim it will hit $14... all based on the strength of it's product. Admittedly, the product looks good... they claim to grow vegetables organically, in 1/4 the time and 1/100th the land area.

http://www.stockmoversdaily.com/alerts/urbf-featured-alertq.html

Looks good doesn't it?

Now, how about the annual report?

http://www.faqs.org/sec-filings/091113/Urban-Barns-Foods-Inc_10-K/

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OH MY DOG.

We have a total of 100,000,000 authorized common shares with a par value of $0.001 per share with 43,400,000 common shares issued and outstanding on July 31, 2009. Subsequent to July 31, 2009, on August 19, 2009, our 7 for 1 forward stock split, approved by the Board of Directors on July 22, 2009, became effective resulting in there being 43,400,000 shares of common stock issued and outstanding. Cash provided by financing activities for the period from inception (May 21, 2007) through July 31, 2009 was $72,000 consisting of 1,600,000 shares of common stock that were issued to our director, Mr. Hassan, in exchange for $8,000 US, or $.005 per share and 3,200,000 shares of common stock that were issued to twenty six investors for $64,000 or $0.02 per share pursuant to our Registration Statement on Form SB-2. An additional 1,400,000 shares were issued to Mr. Hassan in exchange for $7,000 in mineral property costs that he paid on behalf of the company.


Acquisition costs of the potential business 12 months $80,000

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 3 to the financial statements, the Company has had no operation since inception and generated a net loss of $77,150, which raises substantial doubt about its ability to continue as a going concern. Management's plans concerning these matters are also described in Note 3. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

TOTAL ASSETS $ 3,098

TOTAL STOCKHOLDERS' EQUITY $1,850

WHEE!!!

WTF???

That's not $1.8 million... that is 1.8 thousand dollars!

By the way, guess what the market value of the company currently is, at around $1?

Slightly over $43 million, since they have 43,400,000 shares floating around.

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I am an ANGRY INVESTOR!!! HEAR ME ROAR!!!

This is absolute absolute absolute bullshit!!!!

$14 a share???

This isn't even worth it's original $0.001 a share!

Run! Run! It's POISON!

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I suppose they might turn it around and actually try running a business with it, but, currently, it is NONSENSE! RUN I say, RUN!!!