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What? Are they going to PR YET ANOTHER LIE?
Practically EVERYTHING this company has ever said has been a LIE!
NO ONE will dispute that because NO ONE CAN!
I M ROTFLMAO!!!!
"Name one sub penny stocks that is %100 legit."
Just because some other stocks (even the vast majority of stinky pinkies) are scams is NO REASON to give THIS SCAM a pass.
DudS r US has been LYING and misleading investors since inception. They should be exposed for what they are.
DON'T DRING THE KOOLAID! This company has been misrepresenting itself and LYING to investors from the very start.
That is ALWAYS a SURE sign of a scam!
Sorry to burst that bubble but DudS r US is ONLY a RESELLER of drones MADE BY OTHERS.
They have NO PRODUCTS of their own. Every drone the sell is MADE IN CHINA or SOUTH AFRICA.
There are HUNDREDS of others selling the same thing, including the people who actually manufacture the drones.
Hope that helps.
I think the only way out of it is to declare BK. The Preferred shareholders would be paid first. That would be the best outcome for Series C holders as they are the only ones due CASH. They might not get 20 cents a share but they should get a liquidating dividend.
ONLY if there are enough assets to pay off the Series C shares, the common shareholders might split what's left.
By the way, Preferred shareholder rights come BEFORE common shareholder rights. That's why they are called "Preferred".
Answer: Those "gift certs" are NOT "gifts". They are duly authorized shares of the company, with rights specified in the company bylaws just like all the other shares of the company. How would investors feel if the company just decided to cancel all current shares and sell new ones? LOLOLOL!!!
I think the problem lies in the term "certs". Some evidently do not understand that "certs" is short for Certificates of OWNERSHIP of SHARES, duly authorized, issued and outstanding. They are as much a part of the company as ANY other shares.
Hope that helps
Tells me it's not panic selling. Just steady dumping at what the market can bear.
Looks like investors are slowly realizing that this company has NO long term future as an investment.
This stock was set up as just another scheme to fund the Nikitin's lavish lifestyle. An "Instant Cash" machine much like their previous businesses.....
From the Orlando Busines Journal
LAKE MARY -- A Russian-born businessman is under fire by the Lake Mary laser-cutting company he co-founded, charged with funneling hundreds of thousands of investor dollars into luxury homes and an affluent lifestyle.
Precision Technology Group is suing ousted President and CEO Dmitri Nikitin and his wife, Svetlana, alleging that Nikitin "engaged in a pattern of self-dealing, diversion of company funds, property and resources, and other acts of corporate looting."
Undocumented loans
Advantage Capital invested $2 million in PTG. That's roughly where the lawsuit picks up on Nikitin's alleged pillaging of the young company, according to the lawsuit.
For example, the same month Advantage Capital made its investment, PTG authorized a house loan of up to $261,000 in company funds to Nikitin. Former PTG employees say Nikitin demanded the $261,000 loan as a condition of PTG taking funding from Advantage Capital.
The lawsuit further states he used the money to purchase a 5,759-square-foot home in Alaqua, a luxury golf course community in Seminole County, for $595,000. On a life insurance application obtained by the Orlando Business Journal, Nikitin listed his salary at $150,000 a year.
Nikitin and his wife, Svetlana, also own a beach house in Daytona Beach, which the lawsuit contends the Nikitins purchased with unauthorized PTG funds. PTG does not have a record of the home loan, the lawsuit says. The company claims Nikitin acknowledged he owed the money, but could not produce a promissory note.
Other Acts of Corporate Looting
Nor is the financial dispute limited to the purchase of the home. The company contends Nikitin illicitly received more than $119,993 from company coffers since June. He received payment for items listed in company registers as "work on Nikitin house," the cost of shipping a Porsche from Austria to Florida and $10,000 denoted first as "tradeshow" and then changed to "executive salaries."
In October, Nikitin submitted a request and received more than $10,000 for meals, entertainment and travel expenses in 1997 and 1998.
Nikitin also is charged with taking more than $22,300 from PTG bank accounts, including $7,000 he withdrew from an account on Dec. 19 -- more than a week after he was fired from the company.
The lawsuit states the company hasn't ascertained the full impact of Nikitin's activities. Former employees contacted independently by the Orlando Business Journal say that extravagant purchases by Nikitin following cash infusions at PTG were commonplace.
When the company received a payment from German semiconductor maker Heraeus Quartz Glass about three years ago to develop a laser machine for welding quartz, Nikitin bought a $27,000 boat with the money, they say.
When he discovered his Mercedes Benz sedan couldn't tow the boat, he dipped into the same pot to buy a Mercedes sport utility vehicle.
-----------------------------------
Let the buyer BEWARE!
ROTFLMAO!!!!
THIS IS A GREAT READ FOR ALL
NONE of the drones sold by DudS r US is actually PRODUCED by them, NOT ONE!
The CEO of SteadiDrone himself had to address that fact recently, much to the chagrin of CMR and its subcontractors.
Not only does the company NOT manufacture any drones, it holds NO exclusive marketing rights to the drones it does sell. HUNDREDS of other resellers offer the same drones.
Sorry, I forgot to include the link to the DJI site in my last response. Here it is.....
http://www.dji.com/contact
The easiest way to get conned is to believe what you read on the con man's website. This company has done nothing but misrepresent itself and mislead investors since its inception.
The list of the company's misleading statements and outright LIES is a long one.
Allow me to help a little. Here is a screen shot of their "flagship" ProSearch XLF. Notice the name "TAROT" on the font and the model designation, "680PRO" on the side......
TAROT drones are made in CHINA.
See the pictures on the bottom left of the "Phantom 3s"?
Here is a link to the DJI website. Note the Headquarters address is, SHENZHEN, CHINA
Hope that helps
According to the Series C Preferred rights, the shares (certs) are redeemable immediately for 20 cents cash or 20 cents worth of shares at the current price.
NO "VOTE" is required, only and individual shareholder's choice of which he wants to receive at the time of redemption. The talk of a "vote" is only a STALL tactic they are using.
Contrary to what has been said elsewhere, these shares are recorded as DULY AUTHORIZED Preferred shares. The company has NO OPTION but to honor its own shares.
The big problem with that is that THIS COMPANY DOES NOT PRODUCE ANY DRONES. They are merely resellers of other people's products, mainly Chinese and South African.
Their "flagship" products are Chinese made TAROT drones. Their BEST products are South African made DJI drones. HUNDREDS of other companies are also engaged in the resale of drones and accessories. Most of them are better established and have a larger customer base than DudS r US.
In addition to having to compete with other resellers, they must also compete with the companies that ACTUALLY MANUFACTURE DRONES! LOLOLOLOLOL!!!!!
Well, isn't that just
Looks like the truth about DudS r US has gotten out and the word is spreading. It's headed for sub-penny land "soon".
You're welcome, goodinvestment. Just an additional note, the 'D' ticker suffix is added for at least 20 trading days.
I believe they are still missing some SEC paperwork. They have not filed the STOCK PURCHASE AND ASSET SALE AGREEMENT on EDGAR.
I think you can buy but no one can sell yet.
"The ownership and financial arrangement between Drone Sevices USA, Inc. (DSUS) and IR Distro still needs to be accurately disclosed. Does DSUS have any ownership of IR Distro?"
Indeed, that would be of interest to many people as the legal and financial liabilities could extend to IR Distro. Likewise, the other entities owned by Directors could possibly share the liabilities.
This could be important when the Series C holders and others bring suit for payment.
Thanks Cassandra, I saw the Hyperion connection last week when I looked at the lens in close up. It was late though and I had forgotten all about it until now.
Regarding IR Distro's relationship to DudS r US, I would think Bredow would want to keep as much distance between the two companies as possible. Since he controls both companies any subsidiary/parent relationship could legally place IR Distro's assets in jeopardy in the event of a judgment against the company. (I anticipate there may be multiple actions and judgments against DudS r US)
When both companies are controlled by the same person, the line between them becomes less distinct in the court's eyes.
There is NO WAY this company is a good long term investment. They have NOTHING going for them.
Think about it, they have LOTS of ESTABLISHED COMPETITION in the space. (see post #142546)
They have a TON of Liabilities and baggage from the dirty shell. If they did not know this, then they are certainly unfit to run a public company and it can only end badly.
Regarding the issue of the Series C shares, they are in DEFAULT on that agreement. If they wish to resolve the issue, they should start by redeeming them on request, as PROMISED! ANYTHING LESS is disingenuous and DISHONEST on their part.
As for your statement, "Sure, deceit still exists. But now I realize that it is not so prevalent."
This company started out LYING to investors and HAS NOT STOPPED! BOGUS "offices", BOGUS "manufacturing facilities", BOGUS "products", BOGUS "Series C redemption", BOGUS "contracts". Pretty much everything about this company has be BOGUS from the get go.
There is NO WAY to justify all those LIES by the company.
Contrary to what CMR and its "Subcontractors" would have us believe, DudS r US is NOT alone in the space. Here are just SOME of the competition in the space with links.....
DJI: The #1 in popularity and name.
HobbyKing: The Walmart of radio control.
getfpv: high quality FPV frames, components and more.
ReadyMadeRC: FPV components usually with better prices.
Quadrocopter: High end aerial photography drones.
Amazon.com: A little bit of everything
HeliPal: Based in Hong Kong with products from DJI, Walkera, Tarot etc.
DroneFly: Phantom related products and repair services.
BuzzFlyer: A lot like HeliPal but in the UK.
xHeli: Mostly inexpensive toys with a little bit of higher end stuff.
There are of course, MANY, MANY MORE, too many to list in fact! There are MANY who ACTUALLY MANUFACTURE drones!
DudS r US buys mainly from TAROT Drones (CHINA) and PJI (South Africa).
In addition to these, check out the websites of local hobby shops in your area. They can get ANYTHING DudS r US can. Many will build custom drones for you and they offer LOCAL SERVICE!
Hope that helps.
As has been explained before, a name and symbol change DOES NOT obviate the previous liabilities. Both financial and legal.
Otherwise, whenever a company got in trouble or wanted to clear its debts, it would simply change its name and symbol and start over. It just doesn't happen that way.
That's one of the ways we can tell right off the bat that this is a SCAM. NO ONE with an IQ above a house plant would merge with such a "dirty" shell and assume all that crappy baggage.
Hope that helps......
Yes, the judgments DO keep piling up. The name and symbol change DO NOT obviate the legal liability.
Hi Malc, There are no more "PVEC" shareholders. When PVEC changed to DSUS, ALL the shares became DSUS shares and ALL the shareholders became DSUS shareholders.
NONE of the obligations and shareholder's rights were cancelled. The 20 cents per share owed is still 20 cents per share owed. The redemption period began last September. It has NEVER been changed so the shares are redeemable NOW!
The fact that NO ONE has been able to redeem them is PROOF that the company WILL NOT HONOR ITS COMMITMENT!
Good afternoon, rbtree!
I believe the "guts" are made by Flir and assembled into plastic bodies made in CHINA to fit the gimbal mounts.
"Just like there is no proof that DSUS won't pay 20 cents a share for C Series shares."
Actually, gitreal, there IS proof of that. Several people have unsuccessfully tried to cash in their certs. The waiting period was over almost a YEAR ago. NO ONE has been able to get the cash and there is NO reason to think that will ever change.
THEY ARE ALREADY IN DEFAULT ON THE SERIES C SHARES!
They have done NOTHING to remedy the DEFAULT.
"The guy making the claims has sent me threats of bodily harm messages."
Oh, yeah! That's certainly a hallmark of "legitimacy" alright.
ROTFLMAO!!!!
ROTFLMAO!!!!
"The Company’s two facilities, Florida and Michigan"
They have NO "facilities" in Florida. They were EVICTED from the Corporate Headquarters for NON-PAYMENT of RENT!
Their "facilities" in Michigan consist of a MAILBOX in the local GOIN' POSTAL store. They may be using Bredow's garage illegally, because the township council turned him down for business use already.
Maybe someone from the township should go out and perform a surprise inspections.
LOLOLOLOLOLOL!!!!
Yes, indeed! Using FALSE ADDRESSES is NOT exactly the hallmark of a company that is on the up and up. We won't even get into the FALSE CLAIMS of "manufacturing facilities" or products touted as produced by them but ACTUALLY MADE IN CHINA AND SOUTH AFRICA!
ROTFLMAO!!!!
I agree 100%, gitreal. The only way the Series C holders will get ANY of the cash they are entitled to from the company is through the courts. It seems as if they've stopped sending out the certs now and are employing a new STALL tactic.
Yup, the talk and videos about drones is NOT about DudS r US' drones. Reports and implications that they have anything to do with drones made by DudS r US are patently FALSE!
Nothing but LIES and half truths made up by the company, CMR and its "Subcontractors".
ROTFLMAO!!!!
Well, Bredow & company may have some assets. If those who are owed the money wait to see, they may not have anything anymore.
CPUT ist KAPUT?
They have NO products of their own. They are merely RESELLERS of other companies' products.
Yes, this company has ben LYING since DAY ONE!
Yup, where ALL the LIES are told.
"Military grade" drones???? LOLOLOLOLOL!!!!
What drones are those?
The "FLAGSHIP" drones sold by DudS r US are CHINESE made TAROT drones. They are NOT "military grade".
"Military grade"???? Just ANOTHER LIE foisted on the public by the management of DudS r US!
I M ROTFLMAO!!!!
At first, I was willing to give this CEO the benefit of the doubt, figuring he had been duped by a con man. I thought he was merely being used as a "front man".
Now it's plain to see that the LIES are coming straight from HIM! He made it clear that HE is the one running the CON! That's about the ONLY thing he's said that can be believed now.