Diamondhead Casino Corp (DHCC)

[dcbass]

Riddle me this. Why is he rich enough to put $10 million into this company while you are sitting here wondering why he does what he does?

[investtemp]

Riddle me this. An unnamed party wants to buy millions of shares over the next few weeks, months at $1. But they haven't wanted to buy any shares at .30 over the last 6 months?
What's wrong with this ??????????

[zagdad]

Great day......this is going to be a great place to be this year!

[Jester15]

The Market Makers have shorted today. We will see come tomorrorw.They will be buying it back at lower prices.MAKE THAT SPREAD.

[JACKPOT]

Congrat$

[investtemp]

until you try to sell

[JACKPOT]

Nice day here.

[PennyStockTrader2]

I was all alone buying this morning on the open thinking I'd have to pay 35 or 40 cents or more, but the bargain presented itself and may as well continue to do so. I guess we'll have to see, does the money come in or not, I am betting that it will.

[PennyStockTrader2]

Dont worry about who it is, whats important is that management believes in them and surely has done their due diligence or they wouldnt have wasted their time, after how many years has it been? 10 or more I'd have to go back and look.

[Macod]

Did you read the 8K, this is not a loan. It is a straight EQUITY deal at MUCH HIGHER than market prices.

AMAZING

$DHCC

[jonsmile]

Then it’s a go

I wasn’t bashing the stock or play

I was just giving my experience

U were in the same investment we both experienced it lol

[dcbass]

Didn’t your friend buy around $.41? He shouldn’t have long to wait.

Also, you seem to be quite the market expert, so what do you think happens if the first tranche arrives on time?

Serious question.

[dcbass]

Well since this company pumps news every other week, you are probably correct.

Sarcasm intended.

If they had put up an actual press release, then it would be a pump. Money talks so let’s see what happens. Nobody has long to wait.

And I know there are a lot of shareholders that sold below $.10 who are probably not happy to see this company finally succeed if it happens to do so.

Ah well….

[jonsmile]

In my experience deals like these fall apart or don’t happen

I noticed companies put these out to show interested parties they have competition

They usually aren’t real

I can’t even count how many times I seen LOI’s in my life time lol

I hope it happens for u and board a lot of people I know are on this board

And I have many friends stuck in this at higher levels

[Jester15]

Oh here we go UNRELATED THIRD PARTY.RIGHT.

[Jester15]

Letter of Intent my friend. Did you read if they dont get the April 15th or the rest it becomes null and void.Who is this person. ie company. Do they have to borrow these funds in the highest interest rate in 5 years.Why dont they say who it is.

[dcbass]

I think the market is not reacting because the financing company is OMD.

Lol just kidding.

Or on the other hand, maybe it’s not reacting because it wasn’t even put in a press release. But if it’s a signed deal as it looks to be, they are legally obligated to file with the SEC. That being said, many CEOs would have press released this in hopes of goosing the share price short term. But money talks so waiting to see if they get that first $3 million is probably a good idea.

Also, I assume your friend did not buy shares too much higher than the current price. Therefore, he could probably sell them at his original price sometime in the near future.

[jonsmile]

No deposit? I’m confused then there is no deal ?

Don’t deals need deposits to be official I’m confused

Also why is it flat makes no sense company puts out best news ever in its career of being public and its flat


Someone explain I got friends stuck in this disaster

[Jester15]

It aint solid. Its a letter of intent. NO DEPOSIT.We have seen this before.Market Makers play this big time.

[splintered sunlight]

.35?

[investtemp]

Wow, look at today's volume. Even Rob Crowe doesn't believe it

[jonsmile]

Congrats how much was the deposit they put down ?

[investtemp]

what a joke, it was an april fools filing.

If the unnamed joke really wanted to buy shares he could go on the open market and get them at .30@

[Macod]

Solid news!

[PennyStockTrader2]

you are something else, you are really something else

[investtemp]

should hit 3.5 today

[PennyStockTrader2]

8-K filed Entry into a Material Definitive Agreement !!!

Wow, 4.5 million shares for $6 million bucks, and 4 million shares for $4 million bucks

That's $1.18/share, so how much you think the company is worth for starters.

https://www.sec.gov/ix?doc=/Archives/edgar/data/0000844887/000149315223010488/form8-k.htm

Item 1.01 Entry into a Material Definitive Agreement



On March 31, 2023, the Company entered into a Letter of Intent with an unrelated third party. The Agreement provides for purchases of Common Stock of Diamondhead Casino Corporation and purchases of Common Stock of its wholly-owned subsidiary, Mississippi Gaming Corporation.

Mississippi Gaming Corporation

The Letter of Intent provides that the Purchaser will purchase a total of 4.5 million shares of Common Stock of Mississippi Gaming Corporation, or 10% of the Common Stock of Mississippi Gaming Corporation, for a total purchase price of $6,000,000, in two transactions as follows:

1) On or before April 15, 2023, the Purchaser will purchase five percent of the total Common Stock of Mississippi Gaming Corporation for $3,000,000. Upon receipt of payment, Mississippi Gaming Corporation shall issue 2.25 million shares of Common Stock, or five percent of the total authorized Common Stock of Mississippi Gaming Corporation, to the Purchaser.

2) On or before June 30, 2023, the Purchaser will purchase an additional five percent of the total authorized Common Stock of Mississippi Gaming Corporation for $3,000,000. Upon receipt of payment, Mississippi Gaming Corporation shall issue an additional 2.25 million shares of Common Stock, or an additional five percent of the total authorized Common Stock of Mississippi Gaming Corporation to the Purchaser.

The Purchaser will have the right to nominate two directors to the Board of Directors of Mississippi Gaming Corporation. The current Board of Directors of Mississippi Gaming Corporation will examine and review the background, experience and credentials of the nominees and, once acceptable, pass a resolution appointing the Purchaser’s nominees to the Board of Directors contingent upon the first Closing and effective on the date of and immediately following the first Closing. In the event the Purchaser has not nominated a director(s) prior to the first Closing, the Purchaser may do so at any time thereafter.

Diamondhead Casino Corporation

The Letter of Intent provides that the Purchaser will purchase 4,000,000 shares of Common Stock of Diamondhead Casino Corporation at a purchase price of $1.00 per share in two transactions as follows:

3) On or before September 15, 2023, the Purchaser will purchase 2,000,000 shares of Common Stock of Diamondhead Casino Corporation for a total purchase price of $2,000,000. Following Closing, the Company will issue instructions to the Company’s transfer agent to issue 2,000,000 shares of Common Stock to the Purchaser.

4) On or before November 30, 2023, the Purchaser will purchase an additional 2,000,000 shares of Common Stock of Diamondhead Casino Corporation for an additional purchase price of $2,000,000. Following Closing, the Company will issue instructions to the Company’s transfer agent to issue an additional 2,000,000 shares of Common Stock to the Purchaser.

The Purchaser will have the right to nominate two directors to the Board of Directors of Diamondhead Casino Corporation. The current Board of Directors of Diamondhead Casino Corporation will examine and review the background, experience and credentials of the nominees and, once acceptable, pass a resolution appointing the Purchaser’s nominees to the Board of Directors contingent upon Closing of the purchase of a minimum of 2,000,000 shares of Common Stock of Diamondhead Casino Corporation and effective on the date of and immediately following the Closing. In the event the Purchaser has not nominated a director(s) prior to the first purchase of Common Stock of Diamondhead Casino Corporation, the Purchaser may do so at any time thereafter.

The Purchaser’s failure to close when required shall render the remainder of the Agreement null and void.

In consideration of the total purchase price of $10,000,000 for the foregoing purchases of stock, the Purchaser shall also have the right, but not the obligation, to purchase up to twenty acres of Mississippi Gaming Corporation’s Diamondhead, Mississippi Property to be used for a senior citizen and/or assisted living and/or aging complex for an additional purchase price of $75,000 per acre, or a maximum total purchase price of $1,500,000. Mississippi Gaming Corporation will provide two acres of land contiguous to the facility for an open park. The location of the twenty acres shall be determined by mutual agreement of the Purchaser and Mississippi Gaming Corporation, but shall not be in that acreage approved by the Mississippi Gaming Commission for gaming. This right to purchase shall terminate two years from the date of inception of the right (“the Option Period”). The acreage purchased by the Purchaser cannot be used for gambling or gaming of any type or transferred or conveyed to any person or entity for such a purpose. Any deed conveying acreage to the Purchaser will include a prohibition to this effect. In the event a third party tenders an offer for the entire Diamondhead Property prior to Purchaser’s payment of the Option price and the Board of Directors of Mississippi Gaming Corporation accepts the third party’s offer, the Option will be deemed to have expired. In the event, Mississippi Gaming Corporation sells Diamondhead Property for less than Seventy-Five Thousand Dollars per acre in an arms’ length transaction during the Purchaser’s Option Period, the Purchase Price for the Purchaser’s Property will be lowered so that the Purchaser is not paying more than another buyer of the commercial Property.

The proceeds from the foregoing sales of Common Stock are intended to be used to pay down a substantial portion of the debt that is secured by liens on the Diamondhead Property, to pay Diamondhead Property taxes, to pay fees and expenses of outside auditors and accountants to prepare and file the Company’s periodic reports with the Securities and Exchange Commission, to pay legal fees and other fees and expenses relating to the foregoing transactions, to obtain a master plan for the Diamondhead Property and for general corporate purposes. The proceeds from the initial sale of Common Stock will be used to pay plaintiff/lienholders who are owed payment in the approximate amount of $2,207,500, pursuant to an Amendment to Settlement Agreement entered into in Arneault et al. v. Diamondhead Casino Corporation (In the United States District Court for the District of Delaware (C.A. No. 1:16-cv-00989-LPS).

[Macod]

Wow I didn't know this company traded back that far ..what a chart!

Nice little uptrend since 2021

Looks similar to 2003 to 2005 before that pop

$DHCC

[PennyStockTrader2]

https://www.otcmarkets.com/filing/html?id=16528039&guid=dKA-knkwjU2C9ch

[zagdad]

Do you have that link to share....thx

[PennyStockTrader2]

[PennyStockTrader2]

10-K filed !

They've been on time every time after catching up. You dont do that unless you're serious about making something happen eventually.

I pushed the last week and now over half a million shares. Hard to really add any more at this point.

[PennyStockTrader2]

oh really, tell me more about it.
I am considering a push over the next few days to get to half a million shares, it's within reach but I am cheap and not willing to chase.

[investtemp]

the only steal here is what the company is doing to you

[PennyStockTrader2]

The stock continues to be a steal at these prices just got filled at .30, when they finally do a deal this will be a distant distant memory. I'd love to hit half a million shares but without free cash I'll have to be content with close to 480K, wow.

[PennyStockTrader2]

not sure what you are referring to but this is a simple operation and when the right opportunity comes along, its a slam dunk. Worst case we have the land but I want to see the casino project followed through on. One more day of tax selling, I was asleep at the wheel for the dump today and while I did have orders in at lower prices, I actually had an order in yesterday at that low fill price that I forgot to re-enter darn it. Maybe tomorrow we get one more dump.

[investtemp]

Man, can I get some of that stuff you are smoking? Did you get it from Greg?

[PennyStockTrader2]

look man, at least they are not enriching themselves, they are very very motivated. With the right suitor, its a slam dunk, hands down. Continue to be patient and be ready to buy on any tax selling the next couple days, doubt we get it but always need to be alert, I have picked up bargains in some of my other pennies.

[bob1315]

Hi VV, That is a good observation. Yes I believe one has been approved in Long Beach. Two new private owners But look these are our own opinions. Its been a long time now with interest rates raising it would be tough to get ROI. Other ways to raise capital,.

[VV Trader]

Bob, I thought that too, originally. But if you take a closer look at the site you will find that there is plenty of room for a complete 400-acre mixed-use development. The deepest part of the property is on the east end where the casino-approved 50-acre site is located. I also heard that the company could build its own eastbound exit closer to the casino site.
I've heard of three new casino projects in the Biloxi Market but not near the DHCC property. Is there something brewing right around the corner?

[bob1315]

Here I think is the real problem. Pull it up and look at the shape of the land along I-10 Long narrow no depth. Except at entry off the road there.You build and you would have to travel 2 miles back to get to the end. Just my opinion .I .WISH IT WOUL;D BUT .Also to much other 3 more casinos in the pipeline for the Ms. Gulf coats .One right around the corner.

[STILL TOWING]

So,i have driven by the property many times.I did multi million dollars of business in the Bayou .Not knowing what the property was..My only impression is it’s basically swamp land, prone to flooding..People pumping this and those who are now being pessimistic, ..were all involved in the MRGE scam. Beware …

[investtemp]

looks like everyone is giving up. Another year of the management team and Board doing nothing more than increasing their liens on the property

[Macod]

Yes it's taken a long time but they HAVE the goods.

10x bagger at these levels

[PennyStockTrader2]

am I the only weary one here, certainly not. Have accumulated many many more shares than I normally would for a penny stock, but in this case b/c they own the land I feel like there has to be a floor in the worst case scenario that the land needs to just be sold. If it comes down to that, so be it, but we ought to be able to do better after all this time. But my patience is wearing out, why is it so hard to find the right partner for such a fantastic property I dont know. What I do know is that management/board is definitely motivated and will make it happen, so where are the suitors, are there just so many other opportunities out there that this one simply doesnt stand out, I just dont know.

[PennyStockTrader2]

sliced thru my .335 bid on its way to .28, hmm who in the world would be selling at that price. I had a stink bid in at .275 that just missed but I can get filled in future if the selling comes back.

[Macod]

10Q filed last week

[PennyStockTrader2]

hoping we can get some news soon. Trying to pick up shares under .35 if they become available, got some the other day, meanwhile I would be sell tiny amounts over 50, while we wait for some news which in my opinion is long overdue.

[dcbass]

Not really news. But there is a pulse… they are still alive!

[PennyStockTrader2]

News out !!!

http://archive.fast-edgar.com/20220921/AC2Z722CZM2RQ9RX222Q2ZY2GR58ZZ22ZB42/

We're getting ready, we're getting ready.

Item 4.01 Changes in Registrant’s Certifying Accountant.

Based on information provided by the Registrant’s independent registered public accounting firm, Friedman LLP (“Friedman”), effective September 1, 2022, Friedman combined with Marcum LLP (“Marcum”) and continued to operate as an independent registered public accounting firm as a wholly-owned subsidiary of Marcum. On September 21, 2022, the Registrant (i) dismissed Friedman and (ii) engaged Marcum to serve as the independent registered public accounting firm of the Registrant and to provide the services previously provided to the Registrant by Friedman.

Neither of Friedman’s reports on the financial statements of the Registrant for either of the past two fiscal years ended December 31, 2021 and December 31, 2020 contained an adverse opinion or a disclaimer of opinion, or was qualified or modified as to uncertainty, audit scope, or accounting principles.

During the Registrant’s two most recent fiscal years ended December 31, 2021 and December 31, 2020 and the subsequent interim period through September 21, 2022, there were no disagreements with Friedman on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreement(s), if not resolved to the satisfaction of Friedman, would have caused it to make reference to the subject matter of the disagreement(s) in connection with its report.

During the Registrant’s two most recent fiscal years ended December 31, 2021 and December 31, 2020 and the subsequent interim period through September 21, 2022, there were no reportable events (as defined in Item 304(a)(1)(v) of Regulation S-K).

The Registrant has provided Friedman with a copy of the above disclosures. A letter to the Commission dated September 21, 2022 from Friedman regarding its concurrence or disagreement with the statements made by the Registrant in this current report concerning the dismissal of Friedman as the Registrant’s independent registered public accounting firm is attached as Exhibit 16 hereto.

During the Registrant’s two most recent fiscal years ended December 31, 2021 and December 31, 2020 and the subsequent interim period through September 21, 2022, neither the Registrant nor anyone on its behalf has consulted with Marcum with respect to either (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Registrant’s consolidated financial statements, and neither a written report nor oral advice was provided to the Registrant that Marcum concluded was an important factor considered by the Registrant in reaching a decision as to any accounting, auditing or financial reporting issue; or (ii) any matter that was either the subject of a disagreement (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions to Item 304 of Regulation S-K) or a reportable event (as defined in Item 304(a)(1)(v) of Regulation S-K).
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