UPDATE: BACH-HAUSER, INC. (OTCBB:BHUS) – DOUBLE
FOR NOTHING
May 13, 2002
Bach-Hauser, Inc. (OTCBB: BHUS) is a living tribute to the Seinfeld television show – a
Company that’s all about nothing. The Company has no business and no revenues. At
the end of the year 2001, Bach-Hauser had total assets of $4500, just as it had at the end
of the previous year. It had no cash, no receivables, and nothing else that would be
considered liquid – just $4500 worth of intangible assets that consisted of unspecified
“property rights.”
As we have pointed out in the past, Bach-Hauser’s principal activity has been handing
out stock to a seemingly endless stream of attorneys and consultants. (See Bach Hauser
– A Haus Full of Consultants; Bach-Hauser, Inc. – The First Thing We Do, Let’s Give
Stock To All The Lawyers; Update: Bach-Hauser, Inc. – Everyone Makes Misteaks;
Update: Bach-Hauser, Inc. – They’re Bach! We suspect that anyone looking at
Bach-Hauser would wonder, as we do, what all of those consultants and lawyers have
been doing for this somnolent Company.
One answer, of course, is that they sell all of those shares of Bach-Hauser stock.
Someone, actually many someones, have been doing just that over the past several days.
Bach-Hauser, which had zero volume on April 30, 2002, traded 586,000 shares on May
1st, almost 1.8 million shares on May 2nd, approximately 1.3 million shares on May 3rd,
1.4 million shares on May 6th, and another 810,000 shares on May 7th. Meanwhile, the
stock, which closed at 2.3 cents on April 30th hit 5.8 cents on May 6th. That may not
seem like much, but with approximately 100 million shares outstanding that gave
Bach-Hauser a market cap of around $5.8 million, albeit temporarily. By May 10th, shares
were back down to 3 cents.
Who has been buying all those Bach-Hauser shares? Maybe someone who believes,
without any hard facts, that the Company that does nothing is about to do something.
Recent activity on Internet Message Boards suggests a campaign to create interest in
the stock by creating the illusion of activity. Those messages indicate that Bach-Hauser
is involved with a company called Monotech International, Inc., which purportedly is
involved in the manufacture of prefabricated homes. There has even been an effort to
create the impression that Bach-Hauser, through Monotech, will be involved with the
construction of buildings on U.S. military bases. There is nothing to substantiate any of
these rumors – no statement from Bach-Hauser, and no acknowledgment from
Monotech.
We decided to contact Monotech and telephoned the number listed for the owner of the
Monotech website. The person we spoke with said that he had never heard of
Bach-Hauser, and referred us to Monotech’s main office in California. We telephoned the
California office, repeatedly, over a period of several days, but no one answered. No
person. No machine. No one.
Sounds like a perfect match - a Company that’s about nothing and a telephone that’s
answered by no one. Sadly, this show about nothing isn’t a situation comedy.
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