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Here's a link to Web Archive that has the myotcbb.net site with Wilf's picture on it for those that haven't seen it before (if you go to Google cached version it doesn't show the pictures):
http://www.myotcbb.net/" target="_blank">http://web.archive.org/web/20050204164857/http://www.myotcbb.net/
After reading the Money 101 board, I'm convinced this is a "Lifestyle stock." I seem to recall Ed talking about a pick-up bought on company money and given to one of Wilf's family members or something (in this blog). I'm not saying that my memory is bulletproof or anything, but I AM saying that I have officially lost interest in purchasing any more of this stock. Fortunately, I got out at 0.017. I still have 100,000 shares in, which is nothing, but at least if this takes off, I might get a little reward (I'm taking the same stance as Pink Elephant in that I'm only holding a small position until I believe the dilution is over). I'm still trying to decide whether or not to buy more in 2 weeks when Wilf's property will supposedly sell. Depending what happens, I might, but I strongly doubt it at this point. If this stock doesn't recover, I'll end up losing about 2/3 of my original investment. Difficult to own up to that, but well... I don't really have anything more to say about it, I guess. You live and learn...
More or less, I don't know what to think... except that I'm never buying a pink sheet again... or at least until I do some massive DD. OTCBB still seems okay to me (at least you have financials), but pink sheets suddenly extraordinarily dissatisfy me. Anyway... take it all with a grain of salt, as usual. I hope this thing still takes off, but I'm not holding my breath anymore. Too many bad indicators and it seems to me this thing fits "the pattern" of a "story" pink sheet all too well. On top of the fact that Alexander Lyndale just disappeared (myotcbb.net)... I'm really concerned. The thing that upsets me the most is that it seems like people make a living out of lies. I hope for the sake of Wilf's soul this is not the case, but I think the Money 101 board says it best:
"People KILL for money. Lying to you, for your's, is cakework."
That quote is now seared into my memory, I think. I still have a hard time believing this whole thing is a sham... I mean, how in the world could this be accomplished so well? Do I just want to believe the story that much? It seems extremely unlikely to me that someone could craft such an elaborate scam, but like I said I've lost my hope at this point.
I won't post any more thoughts like this on here in the future. I WILL probably post again, but I generally feel that everyone needs to do their own research. The only reason I feel this way is because people generally will only believe what they want to believe and will not listen to me anyway, even if I clearly see and can prove good possibilities or bad (which I cannot in either case with this investment).
For what it's worth...
Hmmm...
Alexander Lyndale suddenly disappeared from the net... I would say this isn't a good sign.
If you go to myotcbb.net now, it says, "Forbidden."
For proof that this was Wilf's site, do a search for "Wilf Blum" on Google. It's the first page that comes up (you'll have to click on cache to see it now).
That's what I'm wondering.
I think I buy Wilf's story as well. In addition to what you mention, he also said that posting a manifest could get wide distribution. Although this would be great for us, it would not be a wonderful thing if hundred of DR natives were hurt in an attempt to dive for the possibility of wealth. Salvaging these ships sounds to be a dangerous enterprise without appropriate equipment, and I'm sure that is apparent upon underwater examination of the Scipion. However, when it comes to the possibility of riches, few keep their sense of wit.
Deduction follows that there must be something of great value worth mentioning about the Scipion. This provides hope even at our all time lows.
Wilf gets us pumped. Today's conference call was no exception. In my opinion, this excitement is contagious because they are truly overjoyed at our current prospects. I find it very unlikely that a company could sell a bogus fever so well. However, I've been known to be wrong on countless occasions, and sometimes it is difficult to determine if I have lost MY sense of wit.
VERY good point. Geez, I shouldn't have sold everything. Heh... I got pretty upset over the law suit thing with Ed. I'm slowly regaining my position since the selling is likely going to continue for at least another week or two (or three).
That's definitely reassuring. I hope this makes a difference. Sure seems to have after that sale to me for 733 shares the other day. If I hadn't bumped my bid up to 0.0165, I'd have actually LOST money because trades cost me $7. Not worth it. Seemed like an intelligent decision to me. On top of that, they could reference me because I had 99267 out (which is an odd number for anyone to request).
:)
Conference call in ~10 minutes!!
I think it will. This conference call should be better since it is midday rather than the crack of dawn. Hopefully, there will be some good questions. I've asked several the last couple of calls. Therefore, I'll probably keep my mouth shut this time and let the others talk.
I had an order out for 0.016 all day. They only sold me 733 shares. Had to bump mine up to 0.0165 just to get filled. That was ~2:45p CDT.
Were you some form of a detective in your early years? Why do you take pride in your "bulletproof" logic? Clearly, no one else does. (HINT! HINT!)
In addition, I've said MANY positive things about DPBM, and I did not get attacked (except by YOU).
Bottom line, you are here to sow confusion (whether you know it or not).
I don't even know Linda. Never even seen her or heard her voice.
I think I'm starting to like this attention though. What will you surprise all of us with next?
How do I know you aren't some Columbian drug lord who fancies pink spandex? We can sit here and speculate all day. It's pointless. If you really are 90+, I'm very sad that you seem so naïve. I suppose I should look at this on the bright side: hopefully, you don't acurately represent your age group. I do try to be an optimist. :)
You will not get another rise out of me. People that watch this board know that I cannot possibly be Linda, and that your accusation is absolutely ludicrous. It is really that simple.
One last comment, the moderator DOES check multis. If you read ANY reasonable part of this blog, you would know that. In fact, he already nuked one of Linda's nicks (which was a HARMLESS one, might I add).
But, please, by all means, continue with wreckless accusations. I think I'm starting to get a kick out of your senselessness.
<I removed this post because it was rubbish.>
Yeah. The gloves come off Saturday. I have a feeling they'll find they're MUTE button very handy.
It was 300. And what was there to divert? I didn't see anything of note occur. EXCEPT A MASSIVE DROP IN PPS. Sorry... my caps lock keeps getting stuck.
mikepiazza, you out there? I'd like to hear your thoughts on everything as well. I'm about 2 seconds from jumping ship!!
I don't believe he said DPBM should dump the DR contract. His point was that DPBM should focus its efforts in our best possibility for quick ROI, specifically, in his thoughts, the deep site at Woman/Kirby Key. He expressed concern because at 1.5 cents a share (which it appears is where we are headed considering this latest news), we have to burn 5,333,333 shares A MONTH to run the company ($80,000 / 0.015 = ~5,333,333). On top of that, I guess we are purchasing a few boats. For some reason, I want to say that was $200,000+ (I hope I'm wrong, can someone confirm?). That's another 10+ million shares alone. As of the beginning of may (2 months of 1 million shares a week is at least another 8 million shares down the tube... on top of whatever undisclosed expenses are out there as well), there were ~45 million shares outstanding. Wilf put in another 50 million of his own shares recently (supposedly, we really have no proof of this since DPBM isn't a reporting company) because, clearly, we were cutting it to close.
The whole point Ed and many (not necessarily me) are trying to make is that we are RUNNING OUT OF TIME... and FAST. If the PPS goes much lower, and it takes 10,000,000 shares a month to run the company... my God, I don't even want to think about it... best probably to do just that.
yardboy, I'm curious to hear your opinion on this mess. You are unusually quiet through all of this. What do you make of the situation?
I'm glad to hear a reasonable amount of money can be made, at least. My wonder of this possibility really caused my head to swim lately. Learning about the pink sheets is a difficult experience since the scam stocks seem to be very prevalent (and consequently often the first real sense of understanding).
Hmm... my experience with this stock is turning out to be a difficult lesson, I must admit... at least I can somehow look at it as some form of a lesson, though (a ROUGH one). I'm learning substantially about pinkies. So, I can't completely write off any possible/probable loss to dirt, I suppose.
And maybe it's time I rethink my philosophy on taking other people's advice... :)
GLTU2
I positively agree. This is a PUBLIC RELATIONS NIGHTMARE.
One of Ed's former posts come to mind, something to the tune of, "And don't even think of taking me to court, Wilf! You don't want the 'news' to get out about the meeting between you, Jim Cross, and me." (paraphrased)
!^$@%@!
I think I'll be writing in symbols for some time now. Unfortunately, they CANNOT express my feelings enough. AUGH! I'm so mad.
@#$%#@!
Great. I think I'll go sh*t my golden brick now.
Although, I suppose, I don't blame you...
&$#@!
I agree. In my opinion, a foul decision for a company at new 52 week lows. WOW. In the least (and this is no respect to Ed, because I hold him in HIGH ESTEEM/RESPECT), they could have waited until the middle of some good PR. Then again, what do I know, maybe it's better to do this now in the middle of utter hell (as far as the stock price goes).
Very displeased with this move... although my opinion means --> JACK.
Clarification here:
1. My investigation should always be double-checked, triple-checked, and then checked again. I make mistakes, and you wouldn't trust anyone else you didn't know with your money, right?
2. I did some precursory investigation into the company you named in early posts (PMHJ), and it appeared that you had a crooked CEO... not necessarily a crooked sponser (or whatever the heck it is, as I still can't really figure out what Alexander Lyndale does except show companies how to go public).
3. Because I don't really understand the nature of Alexander Lyndale, I am unable to determine if their relationship with PMHJ is relevant to your experience. It could be... then again, it may not be. I think information in this direction would really help me out more than anything.
4. The other companies on Wilf's "list" on myotcbb.com, when I examined them, although not the next GE or anything, did not appear to be definite shams or sinking companies. However, I admit that they are definitely worth another look (as most anything usually is).
I hope this helps clarify my "research" (if you want to call it that). I would never suggest that everything is "good" at this point because I'm not convinced that's the case. However, I'm not convinced it isn't either. Even if DPBM busts, this doesn't necessarily make Wilf a crook. However, I am very interested in finding out he is a crook before everyone else does (which, it seems, you imply I'm too late).
I like this idea and would even offer to put it together for the company for a reasonable salary (as would many others, probably). However, the biggest concern I have with this is insurance and a situation where a tourist gets hurt. I suppose these may not be a big deal though...
Your suggestion about hiring an expert makes sense to me. The question going through my mind is: how does he find time to run two companies?
I'm wondering if DPBM is suffering because Wilf doesn't have enough time to weigh decisions carefully.
It's also clear to me that most people would spend most of their time on the definite cashflow... it sounds like that's his other company. (I REALLY wonder how much DPBM pays Alexander Lyndale for sponsership, or whatever you call it... AND what service Alexander Lyndale brings to the table). I'm a little concerned that the other company is a higher priority for him than DPBM (makes sense if he rakes in $100,000 a month on the good months). If that is the case and Wilf really does screw people (which I'm still not convinced this is the case, yet), we're in BIG trouble. This is all just mere speculation, however, and I find that speculation is usually pointless.
Perhaps a couple of good questions for the CC is:
1. What does Alexander Lyndale do for us?
2. How much do we pay Alexander Lyndale (Wilf) for #1?
BTW, I'm fairly certain, at least I learned something like this in business school eons ago, that companies often rent assets so that they do not have to declare the depreciation of assets as losses. However, since this is a non-reporting company... that really doesn't matter. This would only matter if he were a true public reporting company. Definitely make me wonder...
It sounds, to me, that your CEO is definitely crooked - not necessarily Alexander Lyndale. However, this is just a second glance at some of the things you stated in the early posts of this blog. I'll definitely take another look...
I've already checked out the myotcbb.com site (found it a while back, even before I gladly found iHUB, since it pops up when you search for "Wilf Blum"). It was interesting... to say the least.
And I do admit, I'm curious why Alexander Lyndale is required for DPBM since Wilf runs both. It seems he could run DPBM and figure everything out on his own without the involvement of this other company. I think this will be a difficult thing to find out... then again, I might just pop the question on the next conference call (couldn't hurt, I suppose).
I am a one-hit wonder (wandered over from the DPBM blog). However, I also have shares in ZAAP as well.
This is what really concerns me about EVERYTHING, however. The fact that no one ever really knows whether to trust each other. I understand this is mostly due to the fact that we're on the Internet. However, at the same time, pinky land reminds me of prisoner's eating hunched over their meals because they're afraid someone will steal their food. To boil that down, everyone with experience seems they've been scammed a million times. Not very reassuring, however, I would rather be AWARE of this than oblivious. This is what I'm trying to learn.
Just because I play devil's advocate and prefer to not blindly agree with 100% of what you say, doesn't mean I'm on DPBM's payroll. That's ridiculous. The bottom line is that I refuse to agree to anything without proof, and at this point, I really do not feel that there is any solid proof that Wilf is a crook. Regardless, I will definitely research the information you've provided and provide a critical analysis.
Thanks for correcting me. Yes, I meant Lyndale.
I've read ALL the posts on both boards. This is where I found most of the information on Wilf's prior companies. I'm not yet convinced about him ravaging PMHJ, as you mention, but I will certainly (and I thank you for pointing out specifics) check out the information you mentioned about your blog.
I'm really trying to find out as much as I can about this guy to make an educated decision regarding his past and current intentions. To this point, I have found nothing that tells me he is absolutely, positively a scammer, and I feel, based on this information, it is premature or inappropriate to judge quickly that Wilf is such. Nevertheless, I will investigate your blog thoroughly and provide a critical analysis (as best I can, which I should add, is nothing spectacular).
Finally, thank you again for providing specifics. What I lacked from your earlier posts is the timeframe in your blog you mention now (most of the information I examined on there previously did not provide me any solid clues, but I did not thoroughly examine it either).
Sorry, but I rarely point blank trust others' analyses and must often do my own. It is certainly nothing personal, and to top it off, most of us are, understandably, touchy with the current share price.
The companies I've researched of which Wilf has had anything to do did not perform terribly throughout his tenure.
If you're talking about one of the companies Alexander Tyndale helped with financing, that's entirely different from running a company (what you imply). Unless I misunderstand (and that is highly possible), Alexander Tyndale helps companies get onto the pink sheets. Just because he helped a company go public, doesn't mean he is responsible for their failure.
From the research I dredged up, you are quick to judge Wilf and very possibly incorrectly associating him with failed pink sheets he only helped go public. Your implication of him running companies into the ground is bogus as far as I can find (please prove me wrong if possible). On top of that, he does run a couple of successful businesses (at least one of which I am definitely aware).
I really don't prefer any sniveling game of "haha I told you so." Therefore, if that is your intention, go talk to a wall. If you have information, share it. If you have details, explain. Otherwise, quite wasting everybody's time with empty words.
Thanks.
A summary of a conversation with Wilf in 2006 from a post on the Deep Blue blog (I'm pretty sure they pulled it from here, but I can't find the post.):
"Then I asked him about the time frame. I thought they had been searching this site for 4-5 weeks and he corrected me and told me it was more like 8 weeks. So how much longer until you find the treasure your sonar imaging is telling you is down there Wilf? He said it would be soon, very, very soon until they begin to bring up the goods. I asked him about the weather, and he said everything looks good for the soon to come future. So I then asked Wilf about the time frame we are talking about here; he said he expects, with certainty, that they will begin to bring up the metal (the dang treasure) definitely by the end of next week, maybe sooner."
This kind of comment bothers me. It seems to show that we're in an infinite loop of "just wait one more week/month." This is what makes me EXTREMELY leery about the validity of everything. The ONLY thing that keeps me going is the fact that we've gone from (at Woman/Kirby key):
Cannon Balls/Anchor --> Ballast --> Wood --> Porcelain
I'm with most of the others here. Talk is cheap. I want evidence. If I don't see any new evidence by mid-August, I'm gone.
If it weren't for the porcelain, I'd be out of here already. In all truth, I'm hanging by a thread, just because of all the BS that has been on "repeat" since 2006. However, the porcelain has me hooked, namely, because of the anatomy of a wreck (porcelain is usually on top).
I'm STILL not convinced this isn't something that initially started out with good intentions but is now turning into a desparate sham. If I knew how much cash-on-hand the company had, I might feel more comfortable about the situation altogether. However, in an old blog entry (I think from the original blog), Wilf said he doesn't always like to show his "hand" (reference to gambling with cards). This comment alone disturbs me.
Heh... my fingers are still crossed. :) However, I definitely do not want to rule out the fact that I have the wool pulled over my eyes (because that's the minute I probably do).
Well said, capted.
I'm flying out for business on Monday, and I have a lot to do from here to there to make the trip successful (among some other stuff I won't go into). Therefore, it may take some time to figure out all of that. I suppose, however, that time is what we have now. So, I'll see what I can find.
You really put things into perspective! (which is a good thing) Now that you mention it, I imagine transporting 65 tons of mercury will be EXPENSIVE. Seems expensive enough maybe not even to be worth it. Hmm... (gears turning)
Those links don't work if you click on them (included my close paren in the URL), so here they are again:
76 pound flask:
http://www.theodoregray.com/PeriodicTable/Samples/080.6/index.s12.html
Chicago Tribune News Article about Mercury Pricing:
http://www.chicagotribune.com/news/nationworld/chi-0611270205nov27,1,802493.story?coll=chi-newsnatio...
USGS Mercury Report/Pricing (has 2006 pricing data):
http://minerals.usgs.gov/minerals/pubs/commodity/mercury/mercumcs07.pdf
If I recall correctly, Wilf said in the first conference call that according to the 1,000 pages of research they dredged up on the Scipion, the wreck could be valued at $200,000,000.
Regarding the mercury, from historicalwrecks.com:
"The Guadalupe grounded on a sandbank along the coast. The weight of 250 tons of mercury pinned Guadalupe against the sandbar, keeping her upright, allowing the ship and crew to ride out the storm. In 1976, Tracy Bowden and Caribe Salvage, salvaged the Guadalupe. The heavy timbers, solid construction and weight of the cargo of iron fittings prevented them from reaching the lower hold where 250 tons of valuable mercury was stored and may still remain. They recovered gold jewelry and coins, silver, religious artifacts, household items."
I believe Wilf said on the first CC that we had these ships in our area in the DR:
Scipion, Guadalupe, Pelosa
That means we MIGHT have 250 tons of mercury on the Guadalupe. The Scipion is also a 74 gunner. I don't think anyone has mentioned that mercury is definitely on it (unless I'm missing or forgetting something).
I can't remember where I read about the mercury salvaged in the DR. Can't find this information anywhere, but what I remember from that conversation is that older mercury is more expensive than newer mercury (something to do with purity difference).
From what I gather, the international unit of commerce in mercury is the "flask," which contains 76 pounds (http://www.theodoregray.com/PeriodicTable/Samples/080.6/index.s12.html). Unsure if this is accurate, but if it IS, according to a 2006 Chicago News Tribune article (http://www.chicagotribune.com/news/nationworld/chi-0611270205nov27,1,802493.story?coll=chi-newsnatio... a flask went for about $700. At the USGS, they priced mercury at an average of $650 a flask in 2006 (http://minerals.usgs.gov/minerals/pubs/commodity/mercury/mercumcs07.pdf).
1 ton = 2000 lbs. (2000 lbs. x 250 tons) / 76 lbs. = ~6,579 flasks x $700 = ~$4,605,263.15
I'm unsure if Wilf has mercury on the manifest for the Scipion. That might be something to ask next week.
Here's what I'm trying to figure out. If the Scipion is only in 35 feet of water, why didn't they salvage it? Are we CERTAIN this isn't already salvaged? (Again, more questions probably for next week.)
Don't feel bad. The crystal ball comment seemed to relax the mood a bit. I'm sure I speak for most of us when I say we are VERY GLAD you asked these questions (especially with your experience in these markets to be able to follow up on his answers).
These tough questions help out everyone, even Wilf. Despite the fact that Wilf had to answer difficult questions during the call, I'm sure it's no sweat for him. He's in difficult situations, probably, every day. He holds the positions he's in because he thrives on this (clear definition of "thrive" is what everyone is trying to figure out).
Rather than everybody speculating, your questions gave Wilf a shot to answer these important concerns, and he had good insight to provide. Although I'm learning that my knowledge of pink sheets has great room for improvement (always), his answers seemed very intelligent. Based upon his other company (Alexander Lyndale), Wilf probably knows the ins and outs of the pink sheets MUCH more than I initially expected.
Just had to work out the numbers... :)
If they had sold ~$650,000 at the beginning of June ($650,000 / $80,000 is 8.125 months. BUT I'm sure they have spent money on other things in preparation for the diving season since they weren't likely spending 80 grand/month in January), that leaves $350,000 for the remaining 6 months of operation in the year ($1,000,000 limit in stock sale per year via 504D). All this has pretty much been stated previously.
$350,000 / $80,000 = 4.375 months. Therefore, in order to continue monthly operations after 3 more months (since June is now behind us), Wilf HAS to sell property and/or figure out alternative funding methods (e.g. salvaging mercury from the DR wrecks). Otherwise, we have to go dormant for a couple of months before next year picks back up and the sale of stock can resume. This, of course, does not include cash-on-hand before/after the current/future sale of stock. So, if Wilf had $800,000 in pocket at the start of the season (for the purchase of the new boat(s) or cushion room, which seems intelligent - if possible), things could be much better than what I mention here. Surely, he has some sort of reasonably sized cash reserve on hand (seems you'd have to be crazy or in dire straights not to do this).
To explain it in a different way, $350,000 @ 2 cents a share is 17,500,000 shares of stock. At 1,000,000 shares a week (if the stock price holds ~2 cents), that gives us another 17.5 weeks of dilution. Not a pretty picture.
If the price of the stock goes up significantly, all of this changes drastically, of course. If it continues a downward trend, I don't really see much changing regarding the time period of the dilution.
Lastly, DON'T TRUST MY NUMBERS. Please double-check them, and correct any of my mistakes or inaccurate assessments.
Off to fill the day... the Money 101 board sounds nice. :)
Wilf said the dilution will continue until his land is sold. ~30 days for that (and property sales do not always go through). He also confirmed that they are limited to $1,000,000 in sale through 504D. So, one way or the other, it should stop some time in the near future. However, Wilf mentioned that he sales about 1,000,000 shares a week (if I recall this correctly, correct me if I'm wrong, guys). That would be about 4,000,000 a month. Therefore, I would suspect we could continue selling this year, if we had to, for several more months. He needs about $80,000 a month to run the company (which translates to about 1,000,000 shares a week at around $0.02). Also, Wilf indicated recent issues with the sale of stock (selling into the news). This was indicated on the call to be as recent as 3 weeks ago. Apparently, 3,000,000 shares were sold to an entity (MM of some form, it sounded like). This entity then turned around and battered the stock in the recent news posts. Wilf recognized this and indicated that they will not sell to that individual again (or, at least, they have picked a new avenue to sell shares).
I hope this helps.
L8r. :)
Hey, yardboy. Were you the one on the call that mentioned that other stock (LOCK) jumping to $6 several years ago on market trades? (The whole point of the conversation, for those that weren't there, is that you NEVER want to market trade pink sheets; always do a limit order.)
The discussion this morning about the stock was very helpful for me (confirms several things I've heard/researched). I'm not saying it provided any answers that necessarily give us a crystal clear picture or anything, but it definitely helps clarify several things. I encourage everyone to try and listen to the conference call whenever you get the chance.