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Max, I have my doubts on this. Not a fact, but just "doubts".
<<I doubt anyone that has shares in DPBE today will sell out when equal # of shares of the ORRV are coming soon. They are free shares just for owning DPBE. >>
So, if I buy shares of a stock for 2 cents today, I shall own that stock when the dividend is paid, PLUS own the same number of shares of a stock that is trading at 60 cents (cough) per share.
If that were true, wouldn't you think arbitraguers would be all OVER the DPBE stock?
If it sounds too good to be true, it normally is.
And getting shares of a 60 cent stock as a dividend, in equal number as the shares owned at 2 cents a share ... sounds ridiculously too good to be true.
PLease explain to me why no one is buying the snot out of DPBE to GET those higher priced shares. (Because the dividend will come to owners in the future, when it goes ex. NOt to owners in the past when the R/S happened. So, anyone buying today WILL get the dividend if it is declared and made effective at some point in the future.)
Shoot, for that matter, if I thought it were true, I would literally buy EVERY share I could get all the way up to 20 cents per share. I'd buy over 5% of the company and keep buying, and file my form with the SEC, just to get the other shares. And others should too. The buying pressure should be so great that this stock moves to 25 cents within a day. And all you bulls should be buying shares. MAx, you buy shares at 2 cents a share and get equal shares of a company trading at 60 cents? Why are YOU not buying "millions" of shares to take that windfall profit? And WaterBoy, and All the others?
If this dividend were even a good chance of happening - not a guarantee, but a good chance - I thihk the bulls would buy this stock for all they could get!
PLay it this way. Buy the stock at 2 cents per share. Get the dividend, and then sell the stock back off. Even if you only get 1 cent for selling, you are down only one cent form your buy. But you own equal shares of a 60 cent stock. Still up HUGE
30 times your money from the 2 cents invested!!!!
Put in $10,000, and you have $300,000 "dividend" paid to you when they give it out. Just from the dividend - and you still own DPBE. SOmething doesn't sound RIGHT there!!!
Tell me how that makes sense as something that can HAPPEN. We are not talking "if they hit the big gold load" the stock could go up and would. But we are talking just from the dividend. ALL people that own DPBE at that time get a stock worth 30 times more than what they buy. Who would NOT buy LOTS of that?
See how this doesn't add up? No one in their right mind would NOT buy DPBE. Yet the volume says not many ARE buying. Plese tell me why. And HOW a copany can give a dividend of 30,000% the value of their stock.
Thanks. I look forward to hearing this answer.
<<Just think. If Deep Blue sold the remaining 400,000,000 authorized shares @ .022 >>
The problem is that they already SOLD those remaining 400MM shares. A year plus ago we had 500MM authorized and 100MM outstanding. Then they SOLD the 400MM . ALL of it. But, after it was sold they did a reverse split, to change the 500MM that was then outstanding BACK to showing as only 100MM shares. And then they increased the authorized to 500MM again, givng them the ability to dilute it even more!
It was a slick way of doing it, because if you look at the stock a year ago and now it still shows 100MM outstanding and still 500MM authorized, but in reality they diluted the old owners from 100% of ownerhsip to 20% of ownership.
But don't for a second think they didn't already sell those shares. they sold them. Once. So far. Now they are able to sell them AGAIN, since the reverse came and they raised the authorized back to 500MM.
that is what people don't see. Shall I show it a different way?
The total shares outstanding in early 2007 was less than 100MM. that means all the people that owned shares added up to 100MM, and that represented 100% ownership in the company. Now those 100MM shares are represented as only 20MM shares, since the stock was split. But wait. they sold 400MM shares before that split, so the 400MM shares they SOLD last year and early this year, now are another 80MM shares outstanding. After the dilution and R/S, there are 100MM outstanding, but the old owners own 20MM of that. ONly 20% of the comapny, instead of 100%. And if they now sell the newly authorized 400MM that came from "keeping it the same (HA!) as it was at 500MM" then the old owners who used to own 100% of the comapny will own 5% of the company.
Still feel good about the direction it is going? Still feel that Ed has nothing ot complain about, since the people he helped put into the company have been diluted by 80% already, and could be diluted by another 80% in the near future?
It is smoke and mirrors. No matter how you look at it the sum total of all the investors (100% ownership of the company) as of a year plus ago now own only 20% of the company. It is because of the selling of new shares, not the reverse itself. that did nothing to their percentage owned. (They owned 100MM of 100MM outstanding. NOw, they own 20MM of STILL 100MM outstanding, after the dilution) And if the other "new" 400MM shares are sold, then the people that owned 100% of the company as of 18 months ago will own only 5% of the company when the second dilution is done.
That make sense?
max,
Scary post you put up. Wow.
<<The small swivel-gun Noyes found was designed to hurt people, not sink ships, and the specialists who have seen photos of it so far believe it is of English design dating before 1718, when a standard pattern took hold. (The back end of the cannon has a mushroom shape, and the placement of the trunnions that held it in place indicate an earlier design, Mastone said.)
Valuation , based on dating and archeological value, has not yet begun. But Mastone believes that the cannon is worth only about $1,000 and that restoring it could cost as much as $7,000.
>>
So this artifact will cost more to restore than its value? OUCH.
I thought cannons were worth a LOT more than that! Of course, that is a small cannon, but still! That is a shocking thought. I wonder if the cannons and artifacts that DPBE is bringing up might cost almost as much to restore as their resale value! (I'm not thinking it will cost 7 times MORE, like in the story, because the cost will be more for a bigger cannon, but the value should be significantly more. So I think the cost will be les than the overall resale value. I HOPE so, anyway!)
What a shocking story though.
Cost more to restore the artifact than the resale value once cleaned.
WOW. (Only word I have for that!)
I don't normally dispute opinions, because everybody has their own. But, fact I can say when either side (Bull or bear) is wrong, because it is fact.
<<if he broke the rules we would never hear the end of it!
>>
He HAS broken the rules, and I posted a long post that showed WHERE he was breaking SEC rules. there is no "if" to be wishy washy on. You can support him in SPITE of it (WB, etc), or bash him FOR it (Ed, etc), but the fact is that rules were broken.
So - be bullish if you wish. Be positive that he will find treasure (an opinion, so have it) But don't delude yourself or try to say that he in some way may not have broken rules. UNfortunately, that HAS happened. I won't reprint them here again, but take a look at some prior posts listing them. Rules were broken, lies were made, and now it is only whether he can suvive in spite of those breaks, or if they will come back to bite the company in the future.
If the reverse is deemed invalid and all that has to be undone, it could be a problem for the company. We'll see though. It is unknown whether the SEC will CARE about such a small company. But please don't say "if" he has broken rules. If you can't see that he has, then you are not looking at all the facts, but living on hope that the truth will not be exposed. I've been a long in the comapny. But I've done so KNOWING the good AND the bad. Never cover up the bad if you own a stock, or ignore it, or pretend it is not a fact. that will taint your view and not allow you to see when btrouble is brewing. Im not saying it IS brewing here, just a thoguht (From my old broker days at Merrill Lynch) that you should never be 100% blind towards the bullish side OR the bearish side. As Stevie Wonder said, "There is good and bad, in everyone".) Same with stocks. SO own if you want, but don't delude yourself into thinking rules may not have been broken. Buy in spite of it, and know that it is a cross (Burden) this company will have to bear.
Fair enough?
The dividend has not been announced yet, therefore it must be done in the future. It will not be related to the R/S or the owners at that time.
there will be an announcment (if it happens). A date shall be set, and an ex date shall be set. The dividend shall be to owners as of that date. Not the date of the reverse. So, if it is announced soon, and I am not back in, I shall miss it. (Or at least not "get" it. I'm not sure I'll "miss" not having it. LOL)
Hope that answers your question.
I'm out again.
Made a little profit, but not much.
Some will ask why I sold shortly before the dividend. 1) Because I think I can buy lower in the future. 2) I don't have faith in the dividend company. and 3) Wilf posted, for the first time I remember in recent timing, "If the deal falls through, the dividend won't happen". Scary thgouht that he is mentioning that after saying that it will happen in the future. and 4) Although small, I made a little profit again.
So, I did okay, but I'm out. For the one posting that he had an order in and could not get filled. If it was your order ... then you are filled.
I'll play DPBE again. ANd I admit tht Wilf might make another anouncement about finding something good this week, and it might go up, and if so then I left some on the table. I"m okay with that. But my thoughts of possibly no dividend, or one that is finally shown as restricted for a year (What happened to that post where someone said they asked Wilf if it would be restricted and he said "no"? they asked if he was SURE, and AGAIN he said "no".) might knock us down some. Since I am playing this SHORT term, as I have disclosed, I"m back out again. Last 20,000 shares out this morning at $0.021.
Three gains and one loss on the stock so far. Been lucky I think.
GJ
YOu have it wrong. <<I'm going to rip off the coffee fund in our lunchroom.
If it's got 4 bucks in it, I'll take $3.00 and just leave a note saying I loaned that amount to the fund, um, 'a while back'.
>>
You take the $3, leave the $1, and then say you loaned them $5. And $4 was used for expenses to buy filters a while back. Don't stop just at the $1 that you leave. YOU can get any FUTURE money that comes in TOO, as they "owe you $5" now.
I have to admit.
The posts Wilf has been putting on the goldenboards have been pretty good. Yes his grammar is off, and his spelling is off, but that is not the most important thing. He is informing us of what is happening on the dive, and what is being found. No silver or gold (I would still hope that if some were found he would announce it in a PR, NOT on a board. that would continue the pattern of non public information going to a select few - those on the board - and not being done right. PLease do it right Wilf.) found yet, but a lot of cannons and balls, and some artifacts.
So, although I think Wilf has and continues to make mistakes for a public company, I think the posts are something that he is doing that is pretty good.
Gotta give credit where credit it due, and as long as he doesn't use that forum to make what needs to be a real PR, I think that his posts are a good thing.
Ed - on your stock question. If it is a loan, then it ha spriority over stock. If it is exchanged for restricted shares, the that doesn't matter, but debt always comes before equity in corporate structure. So althouhg it would dilute the stock more once again, it would be better if it were turned into restricted stock. And on the dividend question. You are asking if it will be a dividend or so many shares of the new company. I believe from what has been announced that it will be both. A dividend OF shares in the new company. A dividend doesn't have to be cash. IN this case, the way it was proposed originally was that it would be shares in the new company. I believe restricted shares.
J
If the deal was not finalized as of that date, normally the the ex date will not be that date. And although it was presented that way, there is nothing that says it has to be as of that date.
And I think it would be advantageous to do it in the near future, so maybe he will do it that way.
It is a guess. Shoot, just because he announced it was his intentions does not bind him ot do it at ALL> Or he could give 2 shares for every 5 that we had, instead of 5. He can still do whatever he wants, since he didn't fnalize the deal yet.
And if the company that is buying it is his OWN company, then the negotiations might very well be skewed AGAINST us the shareholders of DPBE. Another unknown.
But we'll know when it is announced. Probably not until then.
Ed,
If you are right about ORRV, then that too would be something the SEC might investigte. I can't say for sure it is true yet, as no announcement has been made, but it looks bad if the new comapny that Wilf "sold" half DPBE to is one of his OWN companies and he is going ot pump that one too.
MY judgment is out on that at this time, but I'm going to look into it.
Thanks for posting the information. It could be very valuable to know.
I wonder when the shares of the new company would be given to DPBE holders, and what date they will use for ex dividend. It could actually push DPBE UP a little, based on buying pre ex and getting the shares of the new company. Seriously. When the news breka, if the Ex dividend date is in teh near future, instead of the past, it would be a positive for the price of DPBE.
IMO
No, the rules are much more lax on a pink sheet than a regular reporting company. that helps them in a lot of areas. LIke not reporting quarterly reports, balance sheets, income statments and the likes. they don't have to divulge as much information as a pinkie.
But voting rules remain the same. If you are going to have a shareholder vote, you have to send out proxies to the investors. Even private companies have to do that. And voting the shares without consent? Wow. It doesn't matter WHAT type of company you are. You can't take authority away from the owners of the company (shareholders) and vote their shares your way just because you want to. in ANY company.
So yes they are much more lax, but that doesn't mean that votes can be done the way they were on the RS.
I'm not worried about the lack of information given out, because that is the way it is with pink sheets. But, things that worry me, becaue I feel they ARE in violation and WILL be held accountable even as a pink are (in no particular order)
1) An alleged phone call made to some investors AS coins were being brought up on the boat, and those investors bought shares before the news was announced and the stock spiked. I think this CAN be verified so it worries me.
2) Selling of restricted shares through the ruse of "lending them to someone" who then sold them. They would be bought back later by that person and returned to the original owner. But, that was constructive sellig of restricted shares wihtout proper registration.
3) selling of shares by the company and CEo literally 48 hours before a disastrous announcement was made that crushed the stock. Max, this one i know enough about to be firm on. He could not sell shares. Not even to fuel the boat. And to tell people ont ehblog to BUY? and then 48 hours later say the company could not fund anything, was broke (His word), was doing a reverse and selling one of its two diving spots off to some other firm? No, that one is black and white, and I've gone over that one on other posts. That is not allowed by SEC rules.
4) the whole shareholder meeting thing. From the lack of notice to the lack of a proxy. Again a black and white one, as the rules are spelled out very clearly how votes from shareholders need to be taken. I went over this one in the past too, so won't do it again, but Wilf did not send out proxies, get responses, or count the shares voted correctly. This is something I think they will nail him on.
5) Some of the sales of stock made in teh passt year may not have been registered correctly. Private placement are supposed to be restricted for a while. I'm not sure they were. Other sales still need a 504 registration before the company can sell them, even if they are in the authorized shares already. It's when tey go from authorized to outstanding that the 504 comes into play. This would take further investigation to see what was right and what was wrong, but if the SEC subpeonas the files they will figure it out. And I"m thinking Wilf was "grey" on this matter, so it worries me too.
6) Other restricted shares (In this case - Ed's) were bought back by the company, but then immediately sold into the float, even though they shoud have still been restricted. YOu can't take restrcited shares, which are not supposd to be allowed to be sold, and pay the person that had them (ed) and then resell them 2 days later. ou are circumventing the rules and that one will also get teh SEC grumpy. Yet it happened, and no one seems to apologize for it.
YOU know hwat Maz. that's enough. Those are some areas where I think the SEC COULD investigate DPBE, and areas I think they could find them guilty of violating the rules. there are more, but that's enough for a start.
So, if they want to know what areas they could be investigated in, let them start with those.
I am not talking baout the treasure, and whether it is there or not. I am not talking about the fact that they are finally i the DR. those are POSITIVES, and i'm GLAD they are there. But, as I've written Wilf before, I want him to do the right things LEGALLY, and with the (stupid at times) SEC rules. He may not agree, but he has to follow them anyway. He can't circumvent them on sellig stock, or sell with insider knowledge of an announcment to come out in 48 hours. It makes SENSE to sell to get fduel. But that doesn't make it LEGAL. So, I worry. And ALL I am talking aobut is hte LEGAL issues I see. Because if they bring up wonderful treasure, but the SEC shuts the entire company down, then we STILL lose - even WITH treasure.
See my concern?
And I opst it for two reasons. 1) because I want Wilf to know that people (me for one) ARE watching, adn KNOW when he does these stupid things. So that he STOPS. I want this compnay to SUCCEED. If Wilf will start paying attention to the rules more, and doing things wihtout grey areas, I'd be a big BUYER, especially at these low prices. But, he lies, he hedges, and he cuts corners. That worries me, and other s too. and 2) Becaue he lies and has done things like dilute the company form 100MM shres to 500MM shares (Pre split) I want others to know that odds are long that the company will be a good investment. So yes, for NOW, with him doing these things, I tell people to stay away. Not that they listen to ME, but I thik that when someone does their DD they should see that the CCEo has lied, and done thigns that could be seen as agianst rules of teh SEC. Because their money is at risk if the SEC does come and shut the company down.
I have NO idea if they are investigating DPBE or not. I hae read the same posts you have, but don't know what is true and what is hype (Positive or negative) But my posts? Most o fthem are warings. NOt negative thoughts, but warnings to Wilf to DO IT RIGHT. So we CAN SUCCEED. Im not anti DPBE. I'm anti rule breaking lying and illegally sellig shares that could get us in trouble if (And it is if to me) the SEC comes knocking.
Hope that helps. This is pretty plain forward, and also has my reasoning and opinions in it. I"m not afraid to say it as I feel it is, and as I think. So, I'm still positive DPBE, but negative the actions of the CEo that I feel are breaking the rules. Or just "are breaking hte rules" wihtout my "feelings" in it at ALL.
JRF
Max,
<<They would like to call your contact and find out what they are being investigated for.
>>
Maybe for having a vote without the legal notification to the investors and then illegally voting shares against the knowledge of those shareholders in the way the CEo wanted the vote to go.
If you talk to him, I'd like his ideas on that one.
I TOLD him that he could not do it that way, but he didn't seem to care.
I hope the SEC is not investigating that scenario, but it would be one of the areas I would guess they ARE. Just becuase it was so flagrant.
Can you get us a response from Wilf to that situation and why WIlf feels that he can vote shares of shareholders without notifying them of a vote and then not getting their reply?
Thanks Max. That one would clear a lot of things up for ME.
Db
It was me.
Just for the short term though. In case they announce they found something.
Still think they are going to zero log term, based entirely upon the infractions of SEC rules that Wilf has committed and continues to commit. But, short term I'm two for three playing it.
Let's hope for some news and hype from the meister himself, so this can jump al ittle and I can go 3 for 4. I'm already looking for the way out. LOL
Thank you Max,
Now, let me point this out too.
Making posts on a company website that is password protected, and stating things of importance (Like "we are making recoveries") is a very grey area.
Why>?
ONLY because the SEC says that it is not a public forum. Many can not see it. It is not a general press release. it is not open tot he public, since it is password protected. So ... this too could be considered insider information that is being disseminated to "certin Insiders" (those that have the password and can get on the site) and done in a way which is contrary tot he SEC rules.
And you know what?
on that point, I agree with YOU AND WILF. I think the SC is over agressvie on things like this.
But, even though i agree with you and Wilf that it could be put there, that doesn't mean it CAn be put there. that make sense? It makes sense as a logical thing to do. It makes sense even by using the prudent man reasoning that is so often used as a defence in these situations. And the prudent man regs are very important. But, it still is probably not allowed by the SEC.
there are a LOT of things I don't like about governement agencies. they are CRUSHING small business. And the SEC, along witht eh IRS and EPA (The worst) are terrible. But, the rules still ARE the rules. The reason you don't see other companies doing what Wilf is doing is because even though it SOUNDS good, they know that it is too risky to do, and hte SEC might come down on them. WIlf? He doens't CARE about whether the SEC rules prohibit posting material facts on a closed website or not. He has SAID so in his blog in almost those words in a reply to ME. He thinks that is stupid, so it no longer MATTERS to him if it is against he rules.
And that attitude will get this company in trouble.
So although I gree that he SHOULD be allowed to post there, I advised him NOT to, because "should" and "legally can" are two different issues.
And I sepnd a LOT of my time looking at where companies can get in TROUBLE, not where they are doing well. Because THAT is where investors get bit in the bottom. They support the CEo all the way to non existance of the stock. Been there, done that. Lost LOTS.
Thakns for replying though. I'll looka t the blog, as I haven't in a few days. PLus I have to get back outside, and finish some yardwork.
Jrf30
Max,
My turn to ask you a question.
I'm not sure I've asked anyone specifically a question here. I've been asked a lot of them, and just answered two of them. But, I have one for you. can you please repy?
<<Some authors on this board are just out to destroy the company at all cost. Even though they have been diving in very dangerous conditions and making recoveries>>
How do you know they have been making recoveries? Please tell me your source on that. Are they for sure making them, or are you just assuming so, or hoping so? Please Max, let me know if you know for sure, and if so, where you fouind that out.
thanks max. I'm never opposed to hearing good news either about the company. thanks.
<<How do you know the boat is not in DB name? Have you seen the title, or is it hearsay? It may be registered in another name, but do we KNOW that?>>
Somoene asked tha tsame question, so they did what is asked to be done on this board all the time. they CALLED him. According to that conversation, which I did not hear, Wilf said that it is the other company's name for lawsuit protection.
granted, that one I guess is still hearsay. But, that would make it hearsay until Wilf spoke to EVERy SINGLE person on the board and told them the same thing. If he says it to one, or two, or five, when do we say that if Wilf said it that it is a stated fact, instead of hearsay? ONly when spoken to "us"?
That is what was posted by at lesat one, and maybe two posters that both said they spoke directly to Wilf. Since I have no need to speak to him at this time, if you want to talk to him about it, be my guest. I'd love ot hear the answer.
Does anyone know if the Trady is registered yet, and if those records would show specifically who the owner is?
You asekd in earnest, and I'll answer in earnest.
<<How do you know for a FACT that he sold shres just before the RS was announced and is it a FACT, not just unusual, to say the least, that the proxy votes were considered a yes if not returned was illegal>>
I know it is a fact because Wilf himself posted it on the blog. I corresponded to him about it. He posted that he was selling shares for gas for the Tracy, and then 2 days later announced the Reverse. Yet the SEC rules say that if there is an announcment of material fact (their words) that is coming out, or earnings, or anything else of importance, then the company and the officers of the company can not sell stock for 30 days before that announcement. How do I know this? Because I was restricted from selling stock in a public company that I owned before all earnings reports, and also at times when an email went out. It would say "We have an announcemnet to make, and therefore the stock can not be sold at this time until it comes out" they didn't tell me what the announcement WAS, but I could not sell until the release was made. Just SEC regs. Period. yet Wilf did it, said he did it, and announced it on the blog. He also said (2 days before the announcment of the RS) that although he was selling shares that he did it because he "had to" (His "justificiation" of breaking the SEC rules. THEY DON"T CARE ABOUT JUSTIFICIATION, and I TOLD him that) and then he also said that he thought with the refueling and getting ready to go that it was a GREAT time to BUY shares. He HYPED the stock just two days before announcing that the reverse split was to occur, the company was selling half it's revenue producing potential to another firm, and that the company did not have enough money to fund anything anymore.
That is breaking SEC rules, plain and simple. Not a guess, not an opinion. Yes it LOGICALLY makes sene that he sold shares to fuel the tracy. But, that doesn't make it LEGAL.
As for the second question. Can your votes be counted as a yes if you are not given a proxy and not given notice of a vote? yes, that too breaks the rules. No doubts, no guesses. If you want the exacts on that (or the first oe) go to the SEC pages. Type in "relesaes of a material fact" and see the restrictions, and then check "Shareholder meetings" and look at the requirements. If there is to be a vote on something (especially as important as a reorganization of the company!!) it HAS to be voted on, even if the CEO owns 98% of the comapny (Which some small companies Do, but not this one). And the shareholder meeting has to be announced 30 days or more from the date of the meeting. And the proxy has to e sent out. And no, you can't vote the absent shares in ANY direction. All that is on the SEC pages. CUmbersome, but there.
No, I'm not blowing smoke or stating that I just think certain things. If I used logic or my thinking, I would agree with WILF on some of these isues. But, I don't get the priviledge of thinking or deciding whether rules should be obeyed or not. I (And WIlf) just need to FOLLOW them, or pAy the consequences. I'm saying that Wif has no regard for the ruls of the SEC, and that to me is going to destroy this company whether they fnd treasure or not, either way.
Sorry to be such a downer, but you will come to teh same conclusion if you spend some time on the SEC site and do the research. For me? I learned this a long time ago, when i was a CFO adn then a CEO of a publicly traded company. Now I"m private and don't worry about those things. I don't have to HAVE a shareholders meeting, and can vote without one on most matters. It's a different (And laborious) story when you are public. And DPBE is (For now) public.
I hope that answers your question. And I do it with all honestly and trying ot state the facts as much as possible. these areas are not areas of grey or opinion. Rules are rules, and they are either followed or not. read them by searching the appropirate areas of the SEC, and then see for yourself.
have a good weekend. IN spite of my possibly putting a few butterflies to churn in your stomach. That is not my goal, but my goal IS to state that rules are there, they can be found, and they should be followed. Even by DPBE
TGD,
I can understand hope. I wish you the best, and hope that somehow this company finds something and the stock goes up one more time allowing people to make their investment back.
I'm not one to say you deserve to lose your money. I know how it is to back a company that is doing poorly. I also know how it is to back a company with a lying CEO. Twice in fact. And both times I lost my entire investment. Once was $1MM that i put into something for a large minority ownership, and I was duped anyway. So it happens to all of us. And that is what I am warning about. That this isn ot about finding treasure, but about a CEo who has broken rules and ignored SEC policy, and done things that have probably already terminally affected the future of this company.
Which is why I still post negative things. Because although I think the investors here are good and honest people (for the most part. Like all boards) I also think that hope is being affected by a crooked CEO. I truly think that even if they FIND some treasure, Wilf will find a way to NOT allow most of it to go to the stockholders or the company. Something like this (All the rest of this meail is speculation here. I admit it when it is not facts) will happen.
SOme will go to him and the crew for arrears, some will go to his other company from a contract we know nothing about sinc e they own the boat. (The boat that was supposedly bought with the money form all that dilution. he sold LITERALLY HUNDREDS OF MILLIONS of shares into the flaot, and said "But we now have our own boat" and then someone pointed out that the Tracy is NOT OWNED BY DPBE. He babbled something about it being in another (his) company name for lawsuit reasons, but that makes NO sense and to me is another mark of the scam. WHy people aren't up in ARMS over THAT I do not know! Folks, you should OWN the Tracy, since you BOUGHT it! Why do you NOT? (A question I would like a real answer to - not a hypothetical). ANyway, some might go there, some to him for other reasons, and a piddling amount ot the company. Oh, and on the news, he will sell over one hundred million more shares into the float, and crush any rally.
But most importantly? I feel that even if we fid BIG treasure that the SEC will come in some day soon and shut us down. Period. NO matter what we have or have not found. Because of the illegalities that have occurred on things like insider trading, illegal selling of restricted shares, selling shares within the restrictive window of a material news announcement, and the illegal voting at the illegal shareholders meeting. they just don't like it when a company does as it darn well pleses, without regard to their rules. They get picky that way.
So, I see DPBE going to zero no matter what. And I consider that a sad thing, as it DID have hope in my eyes a while back. It SHOULD be a high risk comapny where either we find treasure and do well or don't and do poor. Instead, it is one that will have its future focused on the lies of the CEO and illegal activities of the CEO instead of whether we find treasure or not.
SO, I hope that youare right, and wish you the best. But knowing what has happened to me on past issues with the same type of CEO, and knowing what has happened here with the CEo and things he has done (And I advised him to NOT do, publicly, here and on the blog) I think this turkey is cooked. Treasure or not.
I believe the proposed incresae was from 500MM to 2B. He wanted to increase it from 500MM to 2B at the same time as the reverse. But he decided against it. So it "stayed" at 500MM.
Of course that is a 400% increase from the 500MM it was pre R/S thouhg. It should have gone back to 100MM< but his way of asking for 2B and then takig it off the table was probably his way of deceitfully getting it rasied from 100MM to 500MM without anyone taking notice. Since he was "good enough" to take 2B off the table. Surely you've seen that ploy before. Ask for something ridiculous and then back off and ask for what you wanted inthe first place.
I "think" it is 500MMM though, not 100MM. Maybe someone else knows for sure, but that is what i think it was. It was confusing, since the "proxy" chagned two or three times during the "voting" process. Yeah, I had to put voting in brackets, as it wsa not a legal vote, and the shareholders werwe never notified.
Miami
<<
I think that statement applies to investing in any company, especially a pink. BTW, I had a question about Microsoft, still waiting to hear from Bill Gates.
>>
MSFT has a PR deprtmant. If you have a question, you WILL get an answer. IN the case of DPBE, the PR department is the CEo. Yes, in small companies the CEo wears many hats.
But, you deserve an answer from DPBE as much as you deserve one with MSFT. And I bet IF you had one with Microsoft, you WOULD get an answer from 'someone" there. The fact that it is not Bill Gates is not the important thing. The fact that the "company" gives you an answer IS important. they WOULD.
DPBE will NOT.
THAT is the difference.
I could care LESS if it were Wilf or someone ELSE who answered the questions. The fact that it is WIlf only belies the fact that this is a small company. belive me, I've done the financials for a private placement before and when I was done I swept the floor, because that was my job also. It happens in small companies. But that doesn't mean that questions can be left unanswered because "Bill Gates doesn't anwer either".
<<my 4000 shares cost me $1100.00 now with reverse split and bull crap lies it is worth 32.00 and I only have 800 shares now what a con job>>
First, I'm sorry to hear you bought so high. Yes, many people thought this company had potential, so they bought in. Based on news releases that were ... well totally lies.
The CEO said things that were totally wrong. And people belived him, and the pricve went up. then ... are you ready for this? the CEo sold shares!!!!! The float went up almost daily, as he sold shares off daily. When asked if he were selling shares, he said yes, but he was done, and no more would be sold.
And he sold more THAT day TOO. And the NEXT day. And the next. And then a few weeks later he said agai that he was still selling shares, but it was done. Then, an investor came to meet him and said he would buy shres privately. WIlf said he didn't need any more money. A good sign. But, within 3 days he was selling shares again.
He even sold shares 48 hours before he announced the reverwe split. WHich is VERY illegal. That one doesn't even need a sidclaimer saying "imo". He had inside information, knowing he was about to announce a reverse on the comapny and an increase in float, and also the selling (if it happens) of 50% of the company projects off to some new firm. But he sold anyway. WAY illegal. COmpanies can't DO that when they ahve major news about to break, good OR bad.
The outstanding and sissued shares went from 100MM shares to 500MM shares as he sold 4 TIMES the amount that were in the market before that. Then, you know what? the reverse split put it back to 100MM shares outstanding again! BUT ... when the reverse happened, he increased the authorized!!! Yes that's rihgt. Instead of the authorized going from the 500MM which was 100% sold to 100MM because of the reverse, he also made the authorized 500MM again. SO now, everyone that owns shares will be able to be diluted AGAIN.
Oh, and another illegality or two occurred on the reverse. He did it by having a proxy vote on whether to do the reverse ot not. However, he did not send them out to ivnestors!!! Is htat amazing or WHAT? Instead, he just wrote ont he company website that the reverse was being voted on, and if you wanted to vote, the proxy was on the website to be downloaded. If you did nto download it, he did NOT send it out to all shareholders for their vote. Amazing! But, it gets better.
Don't worry. If you did not get a proxy, you still DID vote. YOu see, he said that all proxies (that were never sent out) that were not "returned" WOULD be counted as voted. A vote FOR the reverse split AND for the incresaed authorized shares to allow the dilution to happen again.
Even if he owns more than 50% of the companmy and therefore can carry all decisions with his own votes (If) that still does not allow him to cat YOUR vote by not sending you a ballet and then deciding how he wants YOU to vote. But he did.
Anyway, YOU voted FOR the reverse split. YOU can't complain, because you were in FAVOR of it. By voting For it. By not returning hte proxy you DID NOT GET.
Make sense?
The ONLY things that we can do here is 1) complain to the SEC. Go to their complaint page and write in the basic facts I just put here. THe vote was illegal, the dilution was done with insider information, and hte company was hyped so the price would go up and then the CEo sold 400% of the previous float. That should get their attention (And may have already) and 2) POST here. Iknow the bulls don't like these negative posts. And I have been one that has NEVER posted negative about a company in the past. I either like it, or I don't. If i do, I own it and post good things. If i don't I move on. But here? here I feel that posting the truth about things that I know about (SEC regs and proxy votes. Not diving, so I don't post on those things) will rpegent NEW peopl from buying. Not many, as most people don't read this board. But some. A nd those some will not have what yo have. A decent investment that is now worth nothing.
So join us. Don't spread lies. But tell the world that this company is run by a man who has lied and broken rules, and the company is probably going to be ubsted some day. So others dn't own it and lose ALL their money WHEN it happens. And I DO see it happening.
Even to the bulls today. I DO see it happening, and yes that part is opinion. But i wish that all would make profits and get out. It is not about putting some money into a high risk treasure hunting company. It is about a CEo who has lied, decieved, and broken ruiles to dilute you to almost nothing while he has traveled and dived in exotic places. It is about a man who should someday soon have this little monopoly game shut down, and whoever owns the ahres at that time shall lose what is left. And I don't want that to happen to ANY of you. So I shall continue to post that violations and some of the lies (Ed and CAPT post others) and see if anyone can be steered away from an investment like Mick made.
Over and out for now.
Ed,
After talking to them about booking my trip earlier, and then realizing that they were not IN the DR during the tie my triop was supposed to be BOOKED, I bagged them.
ALthough I would love ot dive for a week on a ship, I don't think I an trust DPBE. I can't dive on a day's notice. It has to be set up. IN the past 4 weeks I've bought 2 condos in Virginia, 2 houses in Dallas, and 3 houses in Phoenix. I'm quite busy. So, in order to dive, I hvae to book it about 6 weeks in advance. Clear the calendar so I can do it. And I don't trst Wilf six weeks out. He could do all sorts of things. Leave the site for some reason, fold the company, or just forget to pick me up in the DR (My fears if I had booked that earlier date!)
So I"m going ot have to wait. There are other companies, and this opened an idea for me, so I"Ll explore it. But, elsewhere.
I've done a lot of treasure hunting on land. I even had a column in Western and Eastern Tresaure for a while called "Cache Corner" where I talked about hunting for true treasure instead of coins with metal detectors. But never in the deep. But my interest is up, and i"ll be looking into it in the future.
NOpe, not with WIlf and the gang.
I agree. there are lots of things about this company that say Wilf homself might end up in jail some day. Becasue he refuses to follow SEC rules with a public company. But, to say that a bad influence is on board, and hint at organized crime? Nope, that rumor I won't worrya bout. there are too many things that are verifiable to worry about. LOL. But that one I'm not going ot give time to.
Hey - something GOOD to say about the company.
Yes he does.
<<Seems like wilf says whatever he wants...but it doesnt happen>>
Here's the reson I think he mentioned the new shares and new company.
Becasue if you look at the news relase, it was started as ...
"GOOD NEWS. DPBM has sold a portion of hte comapny off, we will get some shares of a new comapny, and oh, we shall also do a reverse split. But that is minor compared to the good news."
It was his way of telling us about hte reverse and yet having us ask about the new comapny and ignoring the ONLY part of the release that was true. the reverse split!
Max? Is this Wilf doing evertyhing that he said he will do? See whyI say he can NOT be trusted? I guess I just don't want you to think that he is being hoonest with us. this is how he REALLY works. He came out with news of a reverse (A reverse he PROMISED people would NOT happen) and yet hid it in a banner of supposedly good news. That was his way of not being honest. IF it had to happen then tell us. We will not LIKE it, but TELL us. Don't be DISHONEST, and try to cover it under a banner of "good news".
That's why so many of us don't trust what Wilf says. No Max, he does not do "everything" he says he will do.
I'm not bashing you ike some have, but I at least wantt o show my point that if you believe all has been done then you are not keeping your mind open to both sides of the story.
Hopefully someday that sale WILL happen. It will give us some chance at something. But, it did not happen as the RS occurred, that's for sure. And no news of it since the first announcement, covering the RS news.
Thanks Ed.
Well, the stock is at 2 cents by 3 cents. Wide spread for this stock, but I think it will tighten in a day or two.
Even at $0.03, that is buying at the same thing as $0.006 before the reverse split, so people are not paying too much for the stock.
I wonder when Wilf will start selling the newly available shares into the market. That is when we shall see the large trades posted right after the close, and when the stock will start a walk down the ladder. That is my biggest complaint about the RS. now Wilf can put extra selling pressure n the stock, lowering the price again. Look at it this way. A year ago there were only 100MM shares outstanding, and the stock was at $0.02. Today? Now there are only about 100MM shres outstanding, and the stock is at $0.02. Yet in the meantime, Wilf sold 80MM of those 100MM outstanding, as they were not outstanding a year ago. A year ago if you owned 10,000 shares, now you own 2,000 shares. The same outstading. The same pricve. B ut, your portion of the cut is 1/5 what it was.
ANd if he now starts to sell again, and raises the outstanding back up towards that 500MM? Just more damage.
Sad the way he diluted the company so badly. But hey. Now we have a ship that is worthy, and are in the DR. Right? HOw come then I hear how most of the shares sold were to buy the Cap't Tracy, and yet then I hear that DPBE doesn't OWn the Tracy?
Can someone explain that to me please?
We sold tons of shares, diluting all of us shareholders (I'm out currently. Just a disclosure) so that we could buy a better ship than the Deep Scam. So how is it that we don't own the tracy? PLesae give me some clue on that one. thanks.
Either we confirm it or put it to bed.
Put WHAT to bed?
I missed that post, and apparantly it was deleted, so what are talking about.
Sorry to be in the dark.
Oh - before i head out for the day.
My guess is that we close at $.016 today. Just a guess, but my guess. I'd love to see it over 3 cents, for all the longs, but I don't htink that is going to happen. I am guessing (Only a guess) 1.6 cents (Which is .32 of a cent pre split. Not a good price, but sitll my guess)
Ed,
<<jfr30, or anyone that knows, Since DPBM did their reverse split today. Does that mean that the new company DPBE, now has 500 million more shares to sell to pay for expenses and family diving vacations ?
>>
Close. It means they have 400MM shares to potentially issue. They had 500MM to start, did a 1 for 5 reverse, which dropped all the existing shareholders that used to own 100% of the company to 100MM or 20% of the company, and kept the authorized at 500MM, so that leaves them 400MM to issue anew, if they so desire.
I feel they "shall" desire that in the near future.
And for the one that posted about if a treasure is found we will not get it as shareholders anyway, that is now true. ALl the shareholders now own only 20% of the company, so whoever buys into the next hype will get the other 80% of the company and any treasure.
But only 400MM to sell Ed, not 500MM>
Max, I dont understand your comment.
<<Deep Blue Marine has done everything it said it was going to.>>
Can you explain it better?
They "said" they were going to be bringing up millions of dollars in gold off a ship,\ about 18 months ago. They didn't
They "said" they were going to keep the float low and not sell shares, while at the same time they WERE selling shares.
They "Said" they were going to fund 2008 with money from executives diving and paying to do so. Yet they passed the first two weeks they were trying to book and were not even in the part of the world where they were supposed to pick these people up.
They "said" that they had enough money to run 2008 and didn't need more, but then said they were broke.
They "said" they were not going to do a reverse and it was a nasty rumor but not true - and then announced the revers.
They "said" they were going to have a shareholder meeting in NOvember or December in Florida and see the crew off as they headed back to the DR. They had the meeting, but the send off was off by about 4 months.
they "said" the Deep Scan was sold for $750,000 and that the money would be used to buy back shares sold earlier. The buy back ever happen to your knowledge? How about the sale?
They "Said" they were going to vote on a reverse split. But, I never saw a proxy. did you? LEGALLY they have to send out things like that to shareholders to VOTE on. Even if Wilf owns enough to make it happen without others joining in, they have to be notified of votes. Again - did you get a proxy? I sure didn't!
Max, this could go on for a LOOOONG post. But I'll stop right with those. I'm sure CAPT or Ed could add many to the list.
How can you say they did what they said they would do if the above shows they did the opposite?
Please explain that. Specifically. Take each one and tell me how you think they honored their word. Thanks.
It has been one MONTH since the Cap't left for the DR, as of this weekend.
Can you believe that a MONTH has gone by already? Wasn't it on the 6th or so of March that the blog said it was on the way and would be diving "the next week or so"?
Can anyone tell me how many days we have dived in the 30 days since we left FL?
WHAT?
If someone knows a fact, but others don't have the same information, then it is no longer a fact???? how is THAT logical in any way?
<<Trust me Ed, the way you said it was very wrong. You shouldn't have implied that anyone was a convict or druggie at all, but your biggest mistake was not saying "I believe" or "It is my opinion that..."
You just came out and stated it as fact. That was your mistake.
It might be a fact in "your" mind, but it's basically just heresay for everyone else. >>
If it is a fact, and Ed knows it for a certainty, then the fact that you don't know it personally doesn't make it ANY less of a fact, or in ANY way make it hearsay! Or make it a mistake to say it is a fact. And if he knows the person presonally (And I believe he DOES, since he WORKED there) and SAID that he KNOWS that this person paid his debt to society, then you are ignorant to say it is only hearsay because YOU do not know the person personally or know of what debt he is talking.
I know a LOT of things you do NOT. you know a LOT of things
i Do not. But, just because you know something about someone that is close to you, if you said it, and said you knew it, I could not, and WOULD not, say that it is not a fact, just because i was in the dark on it.
What kind of liberal crap logic is that??
One other thing.
The dividend sahres of the second company are going to be restricted shares. So, although you will own them, you won't be able to sell them for a while.
And let's hope the price doesn't continue to go down down and down while everyone is still not able to sell.
But even though no proxy was mailed, Wilf was kind enough to take your shares and vote them as a YES to the reverse split. After all, he KNEW you would LOVE the reverse, so your shares were automatically voted FOR you. No need to even see the silly little proxy.
Wilf ROCKS!!
If the man doesn't CARE that Wilf PURPORSELY put out a lie, then you can't get through to him.
He deserves to lose money.
He also deserves to be sued if anyone he tells invests in this company and they lose money. B ecaue he is repeating a story that he has repeatedly been told is a lie, and he says he doesn't care.
Some people don't let something as small as reality interfere with their opinions or thoughts.
What?
<<I'm sure the company needed some constructive critisim, >>
Dude, Wilf is a confirmed and habitual LIAR.
How is that constrcutive criticism? That is letting the world know to stay away from this company, because the managment has ISSUES.
Is that not something that bothers YOU?
DPBM has four posts over on Goldenboard today, making it the thrid most active boatrd on their system.
Four posts makes it the third most active of the DAY???
I don't think that board will be the "main spot for the stock" in the future. LOL.
Oh, and the fifth MOST active stock for the day?
It has ZERO posts. Same as the sixth most active, and the seventh most active.
I don't think Yahoo or investorshub or any of these sites has to worry.
I'm glad you're bullish. I have a few questions though.
<<I do know this:
1. Capt N Tracy is paid for.
is it? I heard from someone that the Tracy is actually titled in a name other than DPBM. And that DPBM is leasing it. Actually, I think what you said makes more sense, but I'd like to know for sure. So, are you SURE that the Tracy is in our name? (An honest question, as I'd like to know) remember MAx, WIlf has lied to us before. So although it is "logical" that it is in our name, I think part of your DD should be to find out (for anyone that owns stock)
2. It is fueled for the summer.
It is. But the salaries are not paid, and WIlf said there is no money to pay them. So, if they don't get paid, will they stay down there? Or will they claim the artifacts for themselves, for back pay? That could hurt us. But yes, the boat is fueled, and I hope that it stays there.
3. It is headed for Samana Bay to begin salvage of a shipwreck.
Yes. Agreed.
4. There are 4 other shipwrecks that will be worked on by DPBM.
I see NO way that will happen. remember Max. Wilf said they were working a dive on the east coast. Then one in Utah. Then one in Arizona. Then multi millions of gold. Then ... Then ... Then ... Lots of things were going to happen, but they did not. And right now we have ONE boat, and it is committed to the Scipion. SO tell me HOW we are going ot work four other wrecks. I think it is another lie by WIlf, and not going ot happen. I hope it does, but I don't believe that one.
5. There are many other shipwrecks in Samana Bay untouched.
there are many things positive in the world, but as long as we don't work ont hem, it doesn't matter.
Another question for you. And yes, this is for YOUR DD, not mine. I am not an investor right now. But, if i WAS, I'd like to see that contract. There are other ships. SO what? Does DPBm have the rights to go To those other ships? Are you SURE? Is the contract in the name of DPBM, or is it in the name of Wilf Blum, for his company (Whihc could be changed from DPBM any time he wants). Look at the contract if possible. After all, they are announcing it to the world. But, is it public. Has anyone asked him (I think he "might" answer) how the contract is titled? I think someone should. When he sid "'we' have" that does not mean DPBM. It is ASSUMED he meant DPBM, but he didn't SAY it. See the difference? And he could go back and say "I said 'we', but it was in my name for (whatever reaso). I didn't think it mattered at the time, and I didn't disclose that. But, I never said it was int he name of DPBM, so i didn't lie." Not saying he did. Just to CHECK It. that make sense? It is important, so let's see what reality is, instead of taking assumptions off of a statment that never said DPBM was on the contract. (I:m serious. I woul dcheck into that and ask about it if I were a shareholder)
6. There are other companies that would love to have the contract and contacts DPBM has there.
See #5.
7. There is another company to take over the Florida Keys location that all the share holders after the R/S is final will get shares of as a dividend.
name the company. What is hte capitaliazation of the company. When wil it occur. Is it a done deal? remember again the lies. WIlf said the Deep Scan was SOLD. It was sold for $750,000. And that would allow a reourchase of shares. That never happened. A nd from what I've heard, this deal is in the works, but also not "done" yet. So I need more on this before i belive it.
Max, yes there are potentials. That's why I am still watching the stock. But, with a CEO that has been KNOWN to lie (Not just guesses or assumptions) And he has proven to ME that he doesn't cre if he follows SEC rules. That is SCARY. Even if we Do find treasure, the SEC could shut us DOWN. And that makes it hard to invest in the longer term, regardless of the positives.
ANyway, let me know your thoughts on the things I raise above. YOur bullish stance seems the most reasonable and I am truly interested in hearing your thoughts on these things. And what you think of my ideas on checkins some things out.
Max,
I applaud your statement that the only one to blame for your loss is yourself. And most of the time I agree with that. For me, when I make money it is because I chose wisely. When I lose money, it is mostly because I chose poorly. SOmetimes though, there are outside factors.
IN this case, I believe that there was an outside factor. After all, I did my DD> I looked at the company. tightly held, finding treasure, the CEO says they have enough to run the place for a while, and things looked great. But Max .. I was DECEIVED. And that is a facotr that can't be accounted for as my fault when I buy a stock. If hte CEo flat out lies, you can't KNOW that. Not in the beginning.
I remember when I came here the crazy guy named CAPT. He was blabbering about problems, but ALL boards have that type person. the bear that always says the company is no good. YOu 've seen them. mostly you ignore them, or you challenge them, and they go away. CAPT though did not. And as I learned more, I found out that much of what he was saying was (UNFORTUNATELY) true! So I sold. And I don't own right now. And I'm probably considered one of those bashers now too, although I never say "The stock is tanking today. LOLOL." IT seems the bashers LIKE to rub longs noses in their losses. I do NOT. I sitll hope for longs to MAKE money. But, in this case, I also don't want NEW longs to lose money either. And I feel that there has been a deceit here that WILL cause others to buy too, unless they are told the truth. The truth about sales of stock right before major announcements. The truth about restricted stock being sold. The truth about lies being stated on CCs. the trutha bout illegal proxy votes being "cast" by people not even getting the proxy.
No MAX, this one was NOT all your own fault. YOur DD HAD to show one thing (the story beig told) and reality was a different story. YOu were duped. As we all were. SO, in THIS case, your own work would NOT be able to tell you to stay away. And it is NOT all your fault.
OF course, NOW I think those buying or owning should KNOW the lies are out there, and so I don't know why people are bying NOW. But, when you bought, and when I bought, we bought based on lies we could not know were lies at that time.
IMO.
<<Wilf owns more then 50% of the shares so he can vote anything in he wants by having 51% or more confirmed. Unfortunantly that is true but not illegal.
>>
If there are 370MM or so shares in the float, and 500MM outstanding, that leaves Wilf with about 130MM that he (And others) still control. take out the other employees and holders and it is less than that.
Is that accruate? (I don't know how mnay he has now)
If so, that is a lot less than 50%.
But we DO know that there are 500MM outstanding, so do you have anything that says Wilf owns more than 250MM? If so, how can they be in the float?
As to my point on the voting though, that is still valid. Even if he owned 70%, which he doesn't, a proxy vote STILL legally has to be sent out TO the shareholders in order to be voted. And can't 1) NOT be sent out and then 2) Be counted as a yes if they are not returned - even though never sent. That is not right even if he owned 99%!! Yes, his 99% would carry the vote, but he still can't count MY shares as a "yes" just because he never sent out a proxy to me. Do you agree with that?
Wow, that's a nice attitude.
<<It is true that WILF screwed us but at this point it is more important to compliment the stock then tear it down so that it can get as high as possible before the R/S is final.
It's all about making money people>>
Yep, it's all about "making money". If you feel that Wilf screwed us, and that Wilf illegally sold shares with insider information, and if Wilf diluted the stock by 400% when he promised to not do it, and if you feel Wilf illegally did a proxy without proper notification, it is not good to SAY it.
Don't say the TRUTH.
instead ... tell GOOD things, so NEW people can get in the stock, and THEY can get screwed when it goes to zero, instead of us, and we MAKE MONEY.
The ends jusitfy the means!!! So, tell good things, and get new suckers into the game.
Woohoo!!!!
Sounds different when I say the same thing you are saying, but inserting the truth in the space where you only talk about making money and greed.
And the truth is that "I" for one DO believe that Wilf broke NUMEROUS SEC rules, and that the company WILL have trouble because of it. And that he CONTINUES to flaunt the rules, with things like his, IMO, illegal reverse vote where he doesn't send out proxies to shareholders, and then counts those shares as YES votes if they are not returned for the meeting. That is not "standard operating for a pinkie". that is (Again, IMO) CRIMINAL.
But, don't TELL people that the CEO is doing criminal things, because then they won't buy the stock, and WE won't make money off THEM.
As I started. Nice attitude. Didn't Michael Douglas play your role in the movie??