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I thought I found a way to get my shares of ORRV unrestricted at Etrade, but then after I sent in what I had I got the following email request, putting me back to square one.
<<RESTRICTED SECURITY RESEARCH REQUEST
E*TRADE Securities LLC
PO Box 1542
Merrifield, VA 22116-1542
etrade.com
• Questions? Call 1-800-387-2331 (+1-678-624-6210 from outside the U.S.)
from 7 a.m. to midnight ET, seven days a week.
11 Restricted Stock Information
2 Personal Information
?
Signature Date
I understand E*TRADE Securities charges a $150.00 fee to research the restriction. This fee will be charged to my E*TRADE Securities
account at the time the research begins.>>
So no matter what, with or without the letter, it will cost $150 to reserach the company and lift the restriction. And I asked. this is $150 for EACH acccount, and I own it in 5 accounts. It's just not worth it at today's prices. Maybe if it goes up in value.
ANyway, the $150 at Etrade is firm, and even on their form, as shown above. FYI.
recent sunken ships in the mid east?
So much for moving on to a REAl treasure ship in the DR after we finish playing with the artifacts on this one.
The bulls have long said that although this is only artifacts it will lead to a relationship where we can get on a real treasure ship after this one. Now we hear that we might be moving to the othre side of the world to work on what again will NOT be treasure ships. That dis appoints me. Granted, they will PAY us to do the work, but it is the BIG payday that comes from treasrue (cheese as many call it here) that makes the company worth holding, in spite of its track record. If we go to the mid east, that potential disappears for years to come.
Bummer!
And still no answer to the question of when the ORRV letter will be out.
That wilf said was almost DONE in September, and would be out in about a week ...
Is it true that as big as Odessey Marine is that they have only 58 million shares outstanding, and we at Deep Blue have about 400 million shares outstanding? WOW! Shows that we have exploited the stock sales MUCH more than they did.
And to think - we did a reverse split when we hit 500 million shares, bringing us back down to 100 million. Everyone said it diluted us, but we were told "No it didn't. We still have the same value. We just have 1/5 as many shares but we are at 5 times the price. Of course now we have about 400 million out there again, and the price is about 1/8 of a penny, whereas before it was over a penny. So much for not diluting us!
It seems, in my opinion, that we have little hope of actually making it in the long run. I'm a seller, and on the next little leg up I'll probably sell the remaining shares i have. I've lost my faith in the company. Again. We have diluted and said it was not dilution, we have said we were going to do LOTS of things and they never seem to happen, and even now we can't get answers as to whether the artifacts will be divided this year or not until next year. PLus our balance sheet shows missing assets (See others' posts about the financials for that) and our income statment doesn't show a DIME from gold buying, which we know (Think?) is not true. PUt it all together and this looks TO ME like a poor run company that has worked as hard as it could on selling stock and spending the money, but in the long run I think we are all in for a bad ending.
I've been a bull and a bear. Right now I guess I am a bear again. the financials depressed me. Not the lack of profits. We knew that. It's the lack of showing things that we were told are true. Where is the asset of the gold bar we supposedly bought? How about the gold buying gold, where we are keeping 1/3 of from each weekend's buys and putting it in our safe? Why do they not show up? WHy does the revenue from the buying not show up somewhere, even if it IS a subsidiary? Why is the stock in ORRV valued at a price that is higher than the market cap of the entire company over there? Too many things worry me. So I'm out again. And shall move the IRA out when i can, as that is the last spot I still own DPBE. SOrry Wilf, but I'm done. The unrealitic financials and lack of answers, added to the past statements that never came true, are too much for me to gamble on from here on out. I wish you the best, but I'm not part of it anymore. I hope you turn this company around. I don't think so, or I'd be in the stock, but I hope you somehow do what you said you would do. I hope all the shareholders become millionaires, and you the biggest one. But I can't bet on it, and don't think it is the future outcome. So go with God Wilf. I wish all the longs the best.
That is GOLDboards for sale, not GOLDENboards.
Totally different.
I saw that on DPBE website too. Someone boo boo'd.
Brez - but i don't WANT the company to fail. I'm not going to give information to the SEC in the hopes they shut down a company I have INVESTED in. That would end ANY chance of me recovering some money at a higer level, true?
So although I wish Wilf did what he said he would do when he says things, I"m not going to go that route. I'll just continue to try to harass Wilf enough so that he does what he says, and stops saying things that he can't do. And I'll support the company when I can. I'm not trying to get them in trouble. (OR see the stock back in the "trip zip" range again.)
Yeah right! <<Burt would rather say what he wants and apologize to his handlers later. Wilf is much more concerned about the tentative state of his existance.
>>
Then why doesn't Wilf use that same conservative thought pattern when he makes comments to INVESTORS?
Wilf - where is the letter promised to be up by mid JUne stating that the ORRV shares are no longer restricted? And why won't you at least respond to those asking for this letter?
IT's still the same Wilf. YOu can say what you want, and not say what you want. It's your choice. But, when you say something, and especially something as important as how we the investors can get our ORRV shares liquid (Not sold, just liquid), then you need to follow through. A nd not IGNORE the situation when your deadline passes.
Give us an update Wilf. That's all we ask. Don't say something, and then ignore it when it doesn't happen and people rightfully ask you what is going on.
That seem fair?
trueblue,
I think the value is about the same because one is just starting out and hoping to start work on a treasure ship "soon" (whatever that means) and the other is working a ship that is KNOWN to NOT be a treasure wreck. You think being on an artifact wreck that might give us enough sales to cover the costs of being there makes this better than a company just starting out? The market disagrees. So that's why, IMHO, the price is as low for DPBE as ORRV. Because ORRV can get on a nice ship at any time, and we CAN NOT, because we must continue to work a ship that will give us some items, but probably cost us more to salvage than the value of the items we end up selling.
Remember the assay we did on those big "rocks"? They had some metals, but they were still not worth smelting. Sometimes it costs $1 to make $0.80, and that just doesn't add up. We might be higher in PPS if we were sailing in the ocean LOOKING for a treasure wreck than being ON a wreck that is KNOWN to NOT be a treasure wreck. True?
What do YOU think? That's my thoughts on why we are so low. Tahnk Wilf for the gold buying on weekends, because that is keeping this company alive. That is THE reason I still have hope for DPBE. Not that it will give us enough profit to go much higher, but because it will allow us to survive until hopefully we find something better on the ocean floor. And NOT in the wreckage of the Scipion.
In our related field of business ...
Odessey took it on the chin today. A court recommended that they give back ALL the coins and treasure they found a few years ago to Spain. OUCH. Stock was down like 60% at one point, and closed down big. That's the advantage we have of working in the DR. Although we have a split with them, at least we know we are not going to have to give it ALL back.
It was ugly on the OMEX ticker though today.
Again some number out of thin air and call it support?
<<vThe support is 0.0028 and the resistence is 0.0043! >>
Where do you see support at $0.0028 ?????????
I see support at $0.0021. Real support, and people who want ot buy. At $0.0028? I see one buyer, who was taken out with one sale, and now that is gone.
So plesae tell me how you come up with your "support' numbers. I'd really like to know.
Thanks,
The magic 8-ball says when shaken ......
"Ask your question later."
(Which translates to me as "not at this time")
It played all day today at $0.0030, so where do you get the idea that $0.0034 is support?
Wilf's reported the first two weeks on Goldenboards. And says he will put up the third week on Tuesday. So check over there if you want the info.
dusty,
where will you BE in the DR? Do you own a house there? Will you dive one week with Wilf or not this time?
That's not quite accurate.
<<Scottrade has them at 0.00 and 0.00. This stock has not done a thing. >>
That's because they are missing a digit or two. With this stock (Unfortunately) you need to go out further. To $0.002 bid at $0.0024 ask.
And that is up from the $0.0015 bid of a few days ago (Which was mine for a while) and the $0.0017 ask (Which I took out three times buying, but it came back so I took it out again with a few buys)
I said it a few posts ago. I think there is a reason for the stock to go UP during the next few weeks and even the next month. After that things depend on how the blower works, what we find, and how things go, as it does with many companies. But for now, there is a specific reason (Given already in my prior post) for it to go up right now. IMHO.
So far it is working. Hopefully it will continue for much more. HOPEFULLY. NOt a given, not a guarantee. Hopefully.
about 380MM. Give or take.
check on goldenboards.com. wilf posts over thetre all the time.
Wave,
One reason.
Because the shares are being bought for the employees.
Wilf knows that his employees are doing a great job, and he wants to keep them happy. So, he offered this generous idea where 1/3 of the gold buying profits will be spent on buying shares, and those shares will be put into an empoloyee account.
I think WIlf WILL buy the shares, because the employees are expecting it. I think he knows that this is something he MUST do, so he shall. And it IS a great thing for the employees. They have busted their tails to do a tough job, and have done it without a 401K program or a stock incentive program or lots of other benefits bigger companies can offer. This is something that is due them IMO, and after saying he would do it I think Wilf knows he must follow through on it. And I think Wilf is doing the right thing by buying these shares for them.
So I think it will happen, and it will be a nice upward pressure on the stock.
OKay, off to work things for me. Later ...
Wave,
As most know, I am not a solid bull on this company. However, I am a bull AND a bear on the STOCK of this company. At different times. I play it in and out. And I've fortunately done well on "most" trades ... so far. I don't day trade it, but I trade it for short periods, depending on news and things happening.
So, why did I buy early this week and late last week? (At a profit so far, by the way)
Because of the gold buying. And what it will do in the next few weeks and months. And the return to the site with the blower. Let me explain my reasoning in more depth.
The gold buys are bringing in money to the company. For the FIRST time EVER. Steady, decent income. And that means a few things. First, it means no more dilution for now. Hey, we went from 100MM shares to 500MM shares in 18 months or so. That CRUSHED us. Right? Of course it did. Then, we did the reverse. And people said "Oh, that doesn't dilute us ANY." Wrong. It diluted us again because it allowed more shares to be sold again. We went from 500MM to 100MM again on the reverse, but we are back up to 380MM shares or so now. That means that EVEN AT THE TIME OF THE REVERSE, if you take ALL the shareholders at that time, which represented 100% of the company, they now own only about 26% of the company. WOW. Can you fathom that? That is BIG dilution. ALL of us talkig about what we had are now only 26%. SEE why we dumped to below a penny - AFTER the reverse? So many shars being SOLD, increasing the selling pressure. Selling shares was BAD (and always is) for the price. With t he gold buying, we will have money for payroll, and that means no more need for now for dilution. That is a wonderful thing. That alone should signal the bottom for the stock. Or at least enough of a bottom that it is worth my buying in. But, it gets better (Just like the ginzo knife commercial!) And it reallY DOES.
Not only are we getting some income, so we will stop diluting (For now. remember, I"m only talking short term. We don't KNOW what the future holds. Even Wilf doesn't. It depends on too many factors that are unknown right now.) but the extra is that we are going to take some of the income from buying gold and BUY shares. That is MAJOR news IMHO. The buying should start in about 14 days, give or take. We have to hold the items for 30 days, and then we'll work on selling them or melting them. When that happens, and that should be in another 2 weeks or so, then we see some buying. It is something Wilf has promised for the EMPLOYEES, so I think it WILL happen. He will buy shares to put into an employee plan. And that means buying pressure. Pressure to the upside. Once again - I'm talking short term and REASONS. I think this is a REASON for it to go up in the short term.
I see maybe $20,000 in buys happening the first week. And that is 10MM shares at $0.002. As it is, the buying and selling is about even, so the stock is staying somewhat level. Add an increase of 10MM In buying pressure, and it should go UP. SOME NOt a lot, but buying pressure is buying presure, and good. And the next week? ANOTHER 10MM might be bought. And so on and so forth.
At some point, it won't mean as much to the stock. But for now? At these low prices, buying $20,000 of stock is a LOT of shares. It won't lower the outstanding shares, as those shares will be bought in some employee fund, not by the treasury, but it will lower the true float, as they are taken off the market and put away.
So I'm saying that I see the gold buying as money finally coming into the company AND a special increase in deamand for the stock at the same time. So it is time for ME to think "buy". That is all my OPINION, and I'm not recomending ANYONE other than myself buy shares. It is still a high risk stock, and I don't know anyone else's financial situation, so I can't say all people should buy it. But your question was why am "I" buying it, and those are the reasons "I" am doing so.
I think short term the stock should lift. So I'm buying HOPING for a gain, and knowing it is high risk so I won't buy a large amount of shares in $$ amounts. And I also think that the fact that we are brinigng in part of the proceeds as gold into the company vault makes our balance sheet look better (It is dismal right now, so "better" is a relative term) and that could help the stock even intermediate term. If the company is doing better, the stock should do better. But for me, it is not so much that the comapny is doing so much better as the stock will have pressure to the upside, and the stock will have LACK of pressure in new sales and dilution for the downside.
I hope that makes sense, and answers your question. For ME, I am buying based on the gold buys. SOmething Wilf has said to NOT buy on, but that's okay. It's only for MY portfolio, and not a recomendation for anyone else anyway. Others may think the same and buy, or think differently and not buy. I'm not involved either way. I did some buying though.
Enough. I've babbled long enough on it. Let me know if you have thoughts on my opinions. Oh - and one other thing. We are going back on site, with a blower, and I think positive news will follow, which will also short term be positive for buying pressure for the stock. So I"m in. Again. For now. Short term. As of this past week. My reasoning and answer.
IT also indicates that someone was PATIENT, and instead of buying on the ask put a bid in and wiated for hose sell orders to fill him at the bid.
Get it at a lower price, and yet still get a fair amount of shares.
AND give support to the bid.
brez,
It is good to take some off the table on a run, but I don't think this run is over. Remember what I said yesterday (When buying at 0.0007. YESTERDAY). That something has happened that is an outside catalyst. That means it could have legs. There are a few things that I see as helping it move for a few more weeks.
First is the excitement over the new revenue stream and potential of money flowing finally. That is a good thing, obviously. Second, the fact that the company will stop selling shares. I, like you, belive that Wilf has sold into past good news, and that has crushed the stock. But, if revenue comes into the company, then that selling will finally stop. Third, piggy backing on to #2 but more important - the company I believe will BUY shares. When? In two weeks, when the first weekend bought gold is smelted down. YOu see, I'm not buying this stock based on the finds in the water. NOt buying it because they are going to bring home the "Cheese" soon. I think the ship is an artifacts style find, and they are worth GOOD money (Have you seen the rusty nail for sale on the site for $275? Or the spoons for $4,500? And they are SELLING! WOW!) but it is not "cheese", as others have written. The diving may someday bring us a lot of money, but to me it is not going to be enough to keep me in the game that long. But, this weekly or biweekly buying of gold and silver at hotels? I think it WILL bring money. For NOW. Not enough to make the stock worth $1 per share. But enough to stop the dilution, and again I"ll say it, start them buying shares back.
If just from THIS week they have to buy $20,000 in shares in two weeks, that is $20,000 in shares that will disappear from the market. And buying pressure that will show up on the market. And if they do it over and over again, then there will be some serious buying going on. PLus WIlf said (ahem) that HE was going to buy 100,000,000 shares for his OWN portfolio. Don't know if that will happen or not, but if he wants to buy, he too will realize that this new news is going to move the stock price, so he will continue that buying in the NEAR future, to try to get the shares at the lowest possible price for himself.
See all I am saying? All these things have to do with the next two or four WEEKS. Not a major find in the water, and a major move. Not a COMPANY worth buying long term for their fundementals (Aothough their fundementals shall change if this weekend buying continues to go well!) Instead, a STOCK worth buying, in the SHORT term, because the outside forces are already exerting upward pressure, and because in the next few weeks some extra pressure WILL be added on the upside by the comapny buying, WIlf buying, and the overall excitement from this new source of revenue. And MAYBE then a stock worth HOLDING after that time period IF the news contiues to e good. So, it ould be "good" or it could be "great", but either way it was (And is) worth getting into yesterday morning at $0.0007 and $0.0008.
Last illustration. It is like a stock getting an analyst change from a neutral to a buy. Does it change the fundementals of the company? no. But, will it affect the stock price short term? yes. Normally only one day, but it is worth buying that morning and selling that close and taking a little profit. Because of the outside force exerting pressure for it to go up. It CAN still go DOWN that day. But "odds are" that it will go up that day. And in a week? Well, then it is back to the fundementals of the company, and it could go up or down depending on what is happening. But for that day, outside forces are exerting pressure, and that makes the odds good that you will make money. So it is worth playing for that push.
I see a catalyst for DPBE that should not last a day, but maybe 2 - 4 weeks. And then? And then one of two things can happen. The company continues as is, and it is worth taking the profit due to the track record of DPBE. OR the weekend gold buying gives DPBE a fundemental change and a buying of the stock by the company gives the stock a longer push, and together those two things make the stock take off for a long time. (I"ll decide which I think in a few weeks. Not today)
Either way, I think it is worth being in it for the next few weeks. And although I "could" take some off the table at ANY time, I'm not specifically planning on it at this time. I'd like to see a nice run. Shoot - every 0.001 is $14,000 to me right now. So if it goes up to a penny. Only a PENNY. That is up another 0.008 from the 0.002 that it is at now, and that is $112,000 for me. And 2 cents is ANOTHER $140,000 profit. Yeah, this could have LEGS! And all on MINOR money invested, but because of an outisde catalyst affecting this stock in a positive way and continuing to do so for the next few weeks I Loaded up on some stock (HOPEFULLY! NOt a stock prediction. Just a HOPE)
I'll roll those dice for 2 - 4 weeks though.
Gotta get. Calls to make. Issues to solve.
It's not buying that will make this stock go up.
It's a lack of selling that will do it.
When we have this buying pressure, but there is no one on the other side to sell, THEN we will trade a trade or two, move up, trade a trade or two, move up, and so on.
As it is, there are a nice amount of buyers out there. But the ask side is sjammed with sellers. We need to get them to stop selling (somehow. LOL). Then, the same volume of yesterday and today would move us to over a penny, instead of up to 1/10 of a penny.
Hopefully the logjam will end soon. "then" it will get exciting.
Why now? For exactly what I said AND for what you said. Because they will be ABLE to fill the tanks finally, AND also BECAUSE the stock is worth 2% of what it was worth 2 years ago.
Buy low (And ONLY when there is a REASON) and sell higher.
NOtice I did not say sell high. Just higher. Personally, I think the stock bought a few years ago that is down 98% will not become profitable to you. I Know Wilf said he would love the stock at $3 per share, but in MY opinion that is not going to happen without a reverse making it so. But, do I think we shall move up some based on this news? yes, I do. So I'm buying. Not buying at the higher price that you are stuck with (Sorry to hear that by the way). But buying down here, because if they stop diluting and actually start BUYING some shares with the proceeds, then the buying pressure starts the OPPOSITE of what they have done over the past 18 months.
Look at it this way. If the stock has gone down becuase Wilf has been selling treasury stock and diluting the shares (And it HAS, IMHO) then the stock should go UP (some) becuase WIlf is BUYING shares with this money. True? And lots of shares can be bought in a hurry at these levels. For instance, if from THIS weekend he turns it into $75,000 in profit (SOunds like it might be reasonable, if taken as a gross profit markin and Alan's payroll comes from corporate expenses and not against this weekend's take) then that gives $25,000 to buy stock in two weeks. (Per WIlf's post of yesterday). At a price of $0.001 (Higher than now, but as an average) that is 25,000,000 shares bought. Does 25MM shares bought move the stock? "Some". And if he buys that many in 2 weeks, and again that many in 4 weeks, and again that much in 6 weeks, then that WILL move the stock price. Still an "if", but I think this weekend hotel buying might just be something. SO I am buying based on that - NOT on the diving results (so far).
Add to that the gold put into the box for the comapny as an asset and that helps our terrible balance sheet. And add the profit from the sale and that could turn us (Again quoting Wilf) into the BLACK soon. (I think his post said "very very soon" or something like that) It won't erase the shareholde decifit we are carrying forward, but any quarter where we are int he black would be a BIG boost for us.
PUt it all together, and there is a catalyst for my change in opinion. Not just a hope, ala Waterboy who has touted the stock as a great buy from much higher to 2 cents to 1 cent down to 1/10 of a cent, and is still shouting how great it is, even though it would have to go up 10,000% just to get back to where it was when he said it was such a wonderful deal (sorry waterboy, but it is true), but a change has happened that I think warrants my hopein a short term jump in value.
So I'm a buyer. Today. LOL. As of the open this morning, I was 100% out, and had been for over a month. And I took a loss on my last trade in DPBE. But I see a fundemental change based on Wilf stumbling upon something that looks like it WORKED this weekend. I"m still not 100% sure of his word, and he too hedged it with "if" a lot, but I think this past weekend they DID make PROFIT, and that profit WILL be used to buy shares AND to stop the diluting of shares in the near future. Two positives that were NOT there as of last Friday. That's the reason I was a buyer this morning. Make sense?
I'm not saying we are going to the moon. OR screaming that you (Or anyone else)need to buy. Just saying "I" see an outside catalyst that should affect the company in the near term, and it could move the price up for once, so "I" am a buyer. For ME. So I asked if anyone else sees this potential change in fundementals for the company and if they too are buying anything based on it. I'm not giving advise for anyone else to buy this stock, as it is high risk, but curious if anyone else sees what I saw and has decided on their own already to be a buyer. That's my curiosity.
Good luck to you on your other stocks and picks. I hope you recover the losses you took here. I don't see you recovering it all in this one, so hopefully some others are helping you out.
hard to believe, but
I bought in again this morning!
Okay bears, tell me if I am off on this thinking.
Wilf finally did somehting this weekend that worked. He bought silver and gold at low prices, from people who came to the hotel. He will melt it down and sell it for a profit. Shoot, that is what we've been asking him to do for a LONG time. Find SOMETHING that will generate a PROFIT. Or even just REVENUE.
Do I think he really bought stuff this weekend? Absolutely! I've seen those hotel gigs before. The lines are amazing. I don't know WHY people sell so low, but they DO. So I bet he DID buy lots of gold and silver.
If Wilf can do this and make money, then the company makes money. Then, he doesn't sell more shares, doesn't continue to dilute, and most importantly, has money to do things he has promised for a long time. He can use 1/3 of the profit to buy shares in the market. I think he WILL do that, as these are shares for Randy, Billy, etc. So buying pressure will probably start to happen in about 2 weeks. That is a good thing for the stock in the short term at a minimum. Will it continue? I don't know, but it should happen ongoing, which will make it good intermediate term too. Next, the company shows some profit - AND some gold (1/3) in their storage. That will make the books start to look a lot better (When they are opened at some point).
I see this as Wilf finally finding something that WORKS. Granted, this means DPBE is a gold buying company, from hotels, not a treasure diving company. This will be our main revenue producer AND our main money maker. But, it will support the diving, and we'll continue that branch of the company too. I'm not saying that will go away. Just this will be the support for the company.
So, with revenue starting to come in for the first time EVER, and with the company taking some of the profits and buying shares in the open market, and with dilution stopping since they won't need to sell more right, put them all together and it sounds like a short to intermedieate term opportunity to me. So I'm buying again. Done a fair amount of buying already this morning. (I didn't tell you before I decided to buy, but I do disclose that I am buying) As always - it is a high risk. But I've been right over 50% of the time on my plays on DPBE/DPBM so far, with a few more gains versus lossses on the company overall. And if this time it turns out that what he is doing is true, and they do this over and over again, I think I may hold 10MM shares of what I am buying for the LONGER term. See if it goes somewhere. Even if he then does a reverse to get the price back up to something nicer, it would be for pricing issues and market requirements more than for dilution like the last one.
Lots of "ifs" still. But I think this gold buying thing might be the start of something good.
As Aragon said to the ghosts in the mountain ... "What say ye?" Anyone else that's been skeptical at least seeing some potential in this new endeavor?
My thoughts on the CC
To start, let me tell you my thoughts on the company going INTO the call.
I have been a bull and a bear on this stock at different times, and now think of it as a risky investment/gamble with a maverick as a CEO who is not disciplined but also one who cares about the company. I would never again own a large chunk of the company, but at times would play it for potential gains, and will hold a small position for the future. One that is built upon profits from previous plays. I guess if I had to put myself on the scale, I'm still a minor bear on the way things are done here, and wish WIlf would be more consistent and reliable as a CEO. But, it is what it is, and I have now learned to live with that.
So, given my disclosure of where I stand personally, here are my thoughts on the CC.
It started with WIlf giving us an update on the site and what is happening with the company. He spent a lot of time talking about the artifacts and the bars. Some of the things I gleaned from that part of the call were that the bars will probably NOT be worth millions of dollars, but might be able to be sold for a profit. Right now, Johnson Mathey has said that it would take about $1.2MM of cost to get $1MM in product out of them. That means they are not worth salvaging. But, there are other options, from sword makers who like the hard material to unknown buyers (to us) that might buy them as is. And there is someone who might be able to smelt them more economically, and that would give us some profit. My take (opinion) is that they WILL bring us a little profit - somehow - and shall be sold off, but probably not smelted. That's opinion based on what I heard, not part of the call.
As for the artifacts, WIlf mentioned a number. He thinks we have about $3 - 4 Million in artifacts so far this year. If that is true, then when we sell them it should support us for the next season after the sale and maybe even give us a chance to pay back some of the debt we owe to Wilf on the books (More on that below). If we spent $700K for the season, and recovered $3MM, that might give us a gain overall on the deal. There is still cost to sell, cost to preserve and clean, and cost to store. Plus what something is worth does not mean that is what one can truly get for it. But, at least it says the artifacts are worth a little (lot?) more than I though they would be worth. The ones I have seen on the site for the 'store" look worthless to "me". I personally don't CARE about a square nail from 1779 that came from the boat, or a broken piece of china. Hopefully the value he has are for some high quality artifacts.
I asked about the rumor that he was pulling up 80% pure gold bars from the site, and Wilf said that is not true. The information on the bars is the same as what he has posted already. A little silver, a little gold, but not a lot per bar. At least not in these bars.
After talk about the artifacts and lots of talk about things that really was just gab, he opened it up to questions. Some have already been mentioned. Some though were of interest. One of interest to me (since I asked it) was bout the loan of money from Wilf to the company. Earlier in the call Wilf talked about how Odyssey had gone deep in debt during the past year but DPBE was debt free and in great shape. I questioned that, as others have done on the board here. If we are debt free, then what is the debt owed to HIM? He answered and said that it IS a loan, for about $1.4MM right now. But it is being charged zero interest.
That annoyed me a little, as it makes his statement of "we have no debt" to be not true, even if it IS at zero percent interest. We DO have debt, but it is shareholder debt, owed to Wilf. It is things like this that make me say I don't like the way he does certain things. You can’t say there is NO debt, and then say there IS debt to YOU. But, at least it was cleared up. I now know for sure that the debt is debt on the books, and he said it would not turn into equity. It raises the potential of him foreclosing in the future, and taking control of the stock as a senior debtholder, but he said that is not his plan. As a shareholder though I'd like ot get that debt paid off as soon as possible, so it is not hanging as potential over our heads. Just my thoughts on the debt.
Changing topics on what Wilf said about debt and stock ... on the POSITIVE side, he said that he now owns about 20MM shares, and he would like to own by the end of next year about 100MM shares of stock. That would mean pulling 80MM out of the market. That would be a good thing for all of us, as that lowers the truly liquid stock that is out there. And what would be available if something good happened, as that stock I'm betting would not go on sale at a small profit. So you see? Some things are good, but some things are just not consistent. Don't tell me the balance sheet shows zero debt, then that it has 1.4MM in debt to you. Be consistent. That would go a long way in quelling nagging doubts. But I digress.
I don't know if he will buy those other 80MM shares or not, but he said it was a goal. It also will depend on how many shares the treasury sells. If we go up to 250MM shares outstanding between now and then, then it won't help as much as if we stay about 150MM shares outstanding. The amount of future dilution, which is unknown, will make all the difference, IMHO.
There was talk about the potential of other ships in the future, and it sounds like we will NOT work a second ship in the immediate future by getting a second crew together and working two sites at once. However, we MAY get permission to work on a second ship and then go to a different site on days when the Scipion is too cloudy to work. I really doubt that happens soon though, form the way it sounded.
Tracy has a lot of other ships in the area that he has located, which is a good thing, but his ship can go in to areas where ours can not, due to draft in the water. We need deeper water than his ship does. But, there IS more work for us to do down there, after we finish the Scipion. It sounded like there is enough work to continue for decades to come, and WIlf needs to think about a way to have this company continue on even after he gets so old he forgets that he is diving a ship (His words, from a post, not mine. ) I think it would be good to have someone to take over the company in case anything happens to Wilf. Not today, or this year, but something to think about for the future.
Other things touched on briefly were the move to the ASE (he had hope, but I don't see $3 per share unless we do another MAJOR reverse) the reality series (I bet something comes of it, eventually, but I'm not thinking it will be a great thing for us anymore. The DR government doesn't want the exposure, and our relationship with them is MUCH more important than a TV show. Stay on track for what we have, so I agree with that) and the diving season (Almost year round now, with investors still allowed to come when they want). The sale of artifacts (investors will get a discount) and the balance sheet (not public yet, although if we get approved for a larger exchange he will HAVE to show it to us to meet the rags).
All in all ... I thought it was a good CC. It had problems in it - the biggest being that we were told that we could not call in until 5 minutes before the hour. But, at 5 minutes before, I called in and it said there was no moderator yet so it could not connect. At 3 minutes before, it still wouldn’t allow connection, and at ONE minute before it would not allow connection. Due to no moderator. So I called at 1 minute after, and Wilf had just started talking. But somehow it should have allowed us in before the start, at least for a few minutes if we wanted. The inconsistency over the balance sheet item (The "no debt" then "debt to me, but no interest") thing, the bars were said to contain different things at different times during the call (Just because WIlf was reading some numbers and got confused, but still it isn't good) and the (IMO) lack of professionalism was a negative. But I repeat - I have learned that this is what the company is, and I either live with it or move on. It is not as corporately formal or solid as most companies. WIlf is not a standard CEO. But, he is running a pretty non standard company in a treasure hunt, so I understand what it is and go from there. Hearing wilf talk about the value of the artifacts, and some specific ones, and what we can do, and how he is working things, and his stated commitment to the company is a positive. If he buys more shares, that is great. His buying off the open market is a great sign, although I wish it was more transparent like most companies. Then we'd see the purchases and how much and when. It isn't though, so I trust that he is buying as he says. And I think he IS.
His buying, his desire to get this up to a better price, and the fact that we have some things of value now made me think we ARE moving forward in a positive way. And if you want my bottom line, it is in my actions. This morning I bought 500,000 shares of DPBE. Whoopee, it is only $2.500, so I'm not saying I am betting the farm, but I bought some more shares that will sit in my "hold for hope in the future" portion of the account. That says the call was more positive than negative.
Wilf, if I missed anything, or interpreted it wrong, send me a PM. I know you read the board. I tried to be honest in the way "I" saw the call. I'm sure others saw it other ways, but that to me was the good and bad of the call. I'm still not a bull, and have MANY yellow flags - mostly about the corporate structure - but I AM a shareholder, and bought more for the long term. So call me (As someone else said) "Cautiously optimistic".
I'll give my full opinion on the CC tomorrow. I'm heading to church now. But first blush, it was better than I thought, and had some weaknesses too.
More tomorrow. And not vague either. LOL
ORRV update.
My last topic for post. I'm out of the stock, I've decided I'm not going to get back in (I personally don't have the trust needed to be in this stock) and I'm not going to follow the company anymore. I don't have the time, and I don't want to follow this company since I won't be owning it anymore. So I give up.
However, I wish to give an update before i go concerning the dividend. Not a final word, just an update. But, this is what I was told this morning.
PER ETRADE (not me)
They have searched this dividend, and there is nothing on file or in the process in the official channels. They then called DTC direct, and asked them about it, since they do all distributions like this. PLus the PR that I CC'd to Etrade mentioned that DTC was going to be doing the distribution.
The DTC said this morning, June 26th, that they have no indication on their records of a dividend coming from DPBE. there is nothing in the process and nothing pending. They have no knowledge of this ORRV dividend, and they are not working on it.
Am I saying that the dividend is not going to happen? OF COURSE NOT. I have no idea if it is truly happening or not. I'm just reporting what Etrade told me this morning. That it is not in process AT THIS TIME. Maybe it will hit DTC later this week. I don't know. Still, this is an FYI of what I herd just now. Wilf plesae don't sue me for libel or slander or anything else because I am reporting what Etrade told me. I'm only the messenger in this situation.
I'm outta here. Good luck to all longs. I hope you hit the motherlode, even though I am not in the company any more. I "may" own some ORRV (from the dividend), but I'm not going to worry about it. Wilf - since you read these at times. I still SHALL be working on my desire to go diving with the crew in the near future. I"m not a shareholder anymore, but still want to participate in the ExecuEscapes program. I"ll be in touch with you on that. I don't think that I have to be a shareholder to participate in that, so I"m still working on that certification right now.
I'm done on the board though. Probably happy news for some longs. I hope you all don't lose your shirts, and again I repeat I hope you hit the motherlode. I will not be jealous, but happy for your success. Just the way I am.
Bye all!!
GONE ...
John
The listing of ten JOhn and jane Does is a boiler plate wording on many lawsuits. that doesn't mean there are ten others to be sued.
I don't know all the facts of the suit against Ed by the company, but there is much more there than just posting on this site. It has to do with his being an ex employee, his statements potentiallly (And I'm not saying i agree. Just what the lawsuit says) interfering with the contract with CPRK (Which has had some heavy buying lately, by the way. No upward movement, in this rough market this past week, but some heavy buying. I am an owner - short term, as always - because of the heavy buying) and potentially disclosing confidential information.
I don't think anyone else on this site will be added to the suit. I'm not saying that as a fact, but that is my opinion.
Hopefully the suit won't take the focus off the prize for the comapny, and won't cost too much money to pursue. W e are selling stock to pay payroll, so the costs of a lawsuit are not good to have at this time. ANd WIlf knows it. I think (And this is a pure guess) that it will be settled out of court, and as time goes by and Ed doesn't post here the anger will subside and maybe it will eventually all go away.
I don't see the suit doing anyone any good. Lesat of all the company. NOt when we are selling treasury stock to keep the comapny afloat.
IMHHHHHO.
Ed,
yes I remember that from last year. NOw it seems the opposite is stated, but yes I remember that.
I did coppy and paste it. It is hte paragraph in << >> on the post.
They have a lot of experts in a lot of areas, but I don't think anyone that works at the company actually is an expert at those things. Except diving. I agree with you on that.
But anyway, it is the part in the post in brackets.
Question or two.
<<The crews of DPBE are highly qualified and have extensive backgrounds. Their areas of experience and expertise include research, salvage operations, marine survey, production of documentaries, all phases of diving, management and marketing of artifacts, and liaison with collectors and auction houses.
>>
From the website.
So 1) why does it say crews? Do we have more than one crew? (Is NYCrew considered the second crew?)
2) Their expertise includes all those things. So, who has the marine survey expertise? I thought Billy said HE was doing that job, and he admitted he was learning on the job? Granted, I'm not saying he isn't doing a great job, but if this is his first real time surveying, and he is learning it as he does it, how does that mean he already (past tense) has expertise??
3) WHo has an expertise at Marketing Artifacts? has anyone from DPBE (not Tracy, since he is not offically part of DPBE) EVER marketed artifacts? I'd like to know. It will give me more DD on the comapny to know.
4) WHo sis the expert as an liaison with teh auction houses? Maybe Wilf is, but I don't know who they are talking about on that one.
Can anyonme tell me who has what, and how they are able to post on their official website about having this "expertise"? INquiring minds want to know ...
Thanks.
No, he is right. there is a difference.
If Wilf sells some of his personal shares, he gets the money. The number of total shares outstanding also remains the same, as all that happened was the owner of those shares changed to the buyer.
When the comapny sells shares, the money goes to the company but the number of outstanding shares INCREASES, as does the float. that means we are all diluted in our holdings, and own less of the company than we did before the sale. That's the bummer of the company having to sell shares.
yes you called it.
But what gets me are the ones that were saying "gee, did someone sell? it is down form 3 cents to 1.6 cents in two days. On big volume. What happened".
Now that Wilf said HE was selling from the treasury, those same people are all "so, how's the diving going". No worries, no cares, and no concern that the company is starting to dilute again.
It amazes me.
Did anyone see the post that WIlf put on Goldenboards where he said that DPBE started selling some shares of stock yesterday?
The second round of dilution has started....
The ORRV dividend IS a part of DPBE, and therefore is not off topic, regardless of what was brought to your attention.
Holders of DPBE are expecting to receive an equal number of shares of ORRV sometime near the end of this week. therefore, ORRV is an intregal part of DPBE, and is very relevant to this board.
I am curious how the dividend is going to play out. WIll those that bought on the 3rd truly get the dividend shares, or will it be a record date of June 3rd. I've heard both definitions used by the company (And that is the DPBE company!) So I'm curious what will truly happen. As a shareholder of DPBE I am curious about my DPBE dividend, which only "happens" to be ORRV shares. It is the integrity of the company that is more important to me, and seeing if it happens as it was presented. that is important to the credibility of THIS company, and therefore very important to the future price of THIS company.
And since that dividend is ONLY coming to shareholders of DPBE, that is very important to the shareholders OF DPBE and no one else BUT the shareholders of DPBE.
How can the credibility and integrity of DPBE in regards to how they treat their dividend and their previous PR releases be off topic to DPBE?
RM,
I believe we WILL gt the dividends, so plesae be patient. As usual, WIlf does not do things the normal way, so it is tougher to get it to happen.
As for those that are so joyous over the stock price remaining around 3 cents? If I remember right,t he stock was tradaing about 2 cents per share the week Wilf announced the reverse. He also was telling people that same week (36 hours before the split) to BUY shares, and that it was a great deal. But, he said in that same post that he was SELLING shares, because the company needed money for fuel to get the Tracy to the DR. He din'd want us to panic though over why he was selling shares.
The stock dropped from 2 cents to about 8/10 of a penny. People (Especially Ed) were hammering how it was under a penny, and that it might not get back up to that penny level.
Now that it has done the reverse, and is tading near 3 cens, that is the same as 6/10 of a penny before the split.
So, I"m not so "joyous" over the fact that it is hanging tight at about 3 cents! I htin kthat price still sucks in fact. At a NICKEL, it would only be the ame as a PENNY pre pslit. So why people that have held since before the split are so excited about a price that is below what it was in the recent past, I don't know. I an't buy into that though.
I'm good with the dividend though. Let WIlf work it out, give it some time, and it will (probably) happen. As for whogets what? I still contend that in SPITE of all the assurances that Wilf gave, I can't say what will happen. If he does it as of the 3rd of June, and what is in the accounts as of the 3rd of June, then the ex date is June 1 (Friday May 30th actually). I'm not going ot go there though until I see what happens. So let[s giove it another week and see if anything happens. May even need two more weeks.
remember - Wilf doesn't always follow all the specifics of the SEC regs and rules (IMHO, of course) so this dividend did not follow regular channels either. It will take some time to get to our accounts becaue of that. And also, in his defence, he does NOT have a securities or Investor relations department. He is doing a lot of things himself. When you own your own business, you are the CEO AND the janitor. It just works that way. SO he is doing a job that someone with more experience would have possibly done differently, but he IS working to get this dividend to HAPPEN for us. I firmly believe that.
Patience is a virtue, and James wrote a lot about it RM.
I agree. I"m just not sure that is how it will truly happen. I "think" it will happen that way, but I'm still "hoping" that it plays out the normal Wall Street way of settlement date, not purcchase date. Unless WIlf makes the pay date different than June 3rd,a nd makes JUne 4th the ex date instead. And that IS possible. As I said - I'm going ot wait to see what I get. And whatever it is, I'll be happy with those shares.
As I mentioned as I did it, I bought a fair amount of shares (More than the number you mentioned) on the announcment. Then, I sold some off on Monday and took a nice profit. I sold some more on the 3rd, again taking a nice profit. the rest (Still more than that number, but I"m not willing at this time to say exactly how many) I sold right after the 3rd.
So I'll get some of the shares of ORRV for holding through the 3rd. AND ... I am HOPING (note. this is a hope, and not a known fact, depending on how WIlf does the dividend) that some iformation was wrong earlier, and even the shares i sold on the 3rd WILL get the dividend. (ANd hence those that bought on the 3rd will NOT. But, this is only a HOPE). My reasoning for that is that if Wilf gives them out "as of the 3rd" then anything sold on the 2nd or 3rd would still be IN my account on the 3rd at close, as it takes three days to settle. With "normal" dividends, if they are going to be paid on the 3rd, then they go "ex" three days before that. It means that those that buy after that ex date don't settle in time to GET them. So if Wilf gives them out "as of the close of business on the 3rd" then I SHALL get those shares, even though I sold on the 2nd and 3rd. Becaue the "ex" date would be Friday the 30th. I know not much is "normal" though with this dividend, like giving out a stock trading at more than the value of the stock giving it, so I don't know what Wilf will be able to do. If it works like he 'said" it would, and people that bought on the 3rd would get the shares, then although he didn't use the term he is really giving them out with an ex date of june 4th and I won't get those shares. I"ll wait and see, and go with whatever happens. And I held a fair amount until the 4th, just in case.
There. Does that make everything as clear as mud?
I'm out total now though. For now. I'll be back. But, I'm out, I made a nice gain, and I"ll get some dividend shares too, for a price of zero as a cost basis.
They can be tied up from 3 months to 2 years, but in this case they are not giving us a timeframe. therefore we fall back tot he default timing of the SEC, which is 1 year for this type of stock. It was 2 years until recently. Now it is one year. And 6 months for a stock traded on an excahnge (Also a recent reduction in time)
But this type deal doesn't have a specific timeframe, so we fall into the broad stroke category of 1 year.