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These shares were a give back by Cann10 because of another failure of Josh and Co.
BLDV gave the shares to Cann10 for the exclusive rights to sell Cann10 products in the US. They formed Cann10-US as the vehicle to sell these products. Cann10 expected huge sales in the US from Cann10-US and split the profits with BLDV. This would drive the PPS of BLDV up and it would profit handsomely.
Unfortunately no sales ever materialized so the agreement was terminated and the 700MM shares were finally returned (CANN10 gave them back). This was done with the agreement of both parties. No money was exchanged.
I'm just grateful Josh and Co returned them like he said he would. He could have sold them on the open market if he wanted to.
I have a significant position (132MM shares) in BLDV and hope they succeed. It frustrates me when I hear the CEO say they are not interested in profits, or when they can't even file a simple form on time that a six year old could do, or it takes them three tries to get the quarterly report right. These things bring into question whether they are capable of running the enterprise.
You're right they returned the shares from Cann10 (700MM), but they did not buy them back.
Cann10 gave the shares back because they terminated their agreement by mutual consent, and these shares were payment to Cann10 for the agreement they had.
No money was exchanged. No purchases were made.
BLDV has an exclusive contract to sell Cann10 products in USA. These shares were payment to Can10 for the exclusive rights. When BLDV couldn't sell anything they cancelled the agreement and returned the shares.
That question cannot be answered because they are not transparent in what their plans are.
And remember so far they haven't bought back any shares yet.
You're right, there will be no reverse split as long as the DTCC won't allow it.
What we don't know is if BLDV is working on resolving the issues with the DTCC that prevents it. Remember Josh has already tried to do a reverse split. Why wouldn't he try again if he is allowed?
Don't be too sure. They already tried to do a reverse split but was denied by the DTCC.
I believe that's the only reason that Josh has said there is no plan for a RS. Obviously if your not allowed to do one you don't plan for one.
What Josh won't tell you is if they have tried to resolve their issues with the DTCC that has prevented them from doing a reverse split.
My belief is that if the DTCC gives them permission, Josh will try again. I had submitted this question to Josh in a previous Conference Call, but my question was not selected to be answered.
All they need to do is call:
MORGAN E. PETITTI
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TELEPHONE: 330. 697.8548 E-Mail: PetittiLaw@gmail.com
He'll be more than happy to provide an opinion letter. He does it for other companies on the OTC all the time.
When the next quarterly report comes out it should show who got the shares.
Ryan probably used them to pay for goods or services.
This is only the base if the next quarterly report has positive news.
Don't hold your breath. If they had something positive to report it would be out there all ready.
Now .0028 after a disastrous conference call. Hopefully the quarterly report will have something positive to say otherwise this could get ugly.
If they don't issue the report and the YIELD sign stays or a STOP sign appears that will be like throwing gasoline on the fire.
They had a couple dozen NANO shots available at a show last year. The water was also available at a show in small quantities as well as in one 7-Eleven last year (it looks like about 12 bottles at the 7-Eleven). Once that was gone neither product has been available.
Ryan has never produced any product in any significant quantity. It has always been what I call a sample size of 12-24. Even when the water was available on SingleSeed they only had a dozen bottles in stock, and once they were gone no new product was made or reordered.
Don't forget he has no money to make any product. He has to rely on someone else to fund the production or he has to pay for it with stock. If he pays for it with stock he can only make small batches because he has to discount the stock so much.
What he is hoping for is some large company or investor to come along and put up the money to make the product. The only problem with that is when he does that he limits his profits and most of the profit goes to the investor.
The best thing to happen for investors is for the company to be bought out by some large company (like a PEPSI) and have HIPH stock be converted into the new company stock. Unfortunately that's not likely to happen.
Call it whatever you want, this is not your typical investor meeting. If it were they would be taking the questions live.
Instead like a magician performing a trick they determine in advance what they want to say and then pick submitted questions that match their answers and ignore the questions that are really important to investors. I've submitted questions to Todd and Josh, but they won't answer them because they don't match what their agenda is.
This is nothing more than a paid commercial dressed up to look like a conference call. Mind you there's nothing wrong with that if they would give pertinent or new information instead of the generalized fluff or old info that they always seem to dish out.
There are other reasons why the PPS is as low as it is, but one of the main reasons is that when they have these calls everyone gets excited about hearing what the company is going to do and what the future holds. What they give is usually a review of stuff that everyone already knows or is so vague that it is meaningless. That discourages and deflates everyone's anticipation. They'd be better of being quiet and not saying anything.
If they could publish a good third quarter report (ON TIME) next week, this could rebound nicely. If they don't then it's more misery. Others will say it becomes a buying opportunity to average down.
These are not real press conferences, because they have planned what they want to say in advance. It is Kabuki theater and that's why it is so sad. They have time to prepare their little play and rehearse their parts to make sure the play is compelling. But when they perform it's as if they are performing their parts for the first time and the writing hasn't been reviewed (worse than Star Wars).
Hopefully the third quarter financials show increased revenue and overall financial progress. This would go a long way to restore PPS, but they need to get that report out now because it is due. Otherwise a new YIELD sign will go up to replace the current YIELD sign.
They only have about 10 days to issue the report before a new YIELD sign preplaces the current one, and time is ticking away. Someone should remind Josh, he doesn't listen to me.
This is a repeat of what happens every time the company has a news conference.
Josh and Todd speak and the PPS drops.
I hope it can recover next week after the dust settles.
Based on the amount of inventory that the website was showing a few weeks ago, that's only a few thousand dollars of product.
It would be more informative if Ryan gave the total value of orders placed and delivered. In the past the company has had a few dozen items of product for sale and has put out PR's stating that their product has sold out within hours trying to generate interest. Of course the value of the sales were very small.
Now that the quarter is over, lets see what the financials really show.
Someone should remind Josh that the quarter has ended and a new quarterly report needs to be done, otherwise the YIELD sign will go back up before it is taken down.
More meaningless fluff from Ryan. Who cares if he had a great time? I want know how much product he actually sold. Potential collaborations mean nothing; did he actually close a deal? If there's no new deal, then there is nothing to say.
He has a history of touting new collaborations only to have them fall through. The financials tell the real story.
Just because their portfolio lists different products, it doesn't mean it has them available for sale. The company has no money so it can't produce products for sale unless a supplier is willing make it and agree to take payment in the form of discounted stock.
They formed an agreement with Calibear, but HIPH is only acting as the distributer, so most of the revenue will go to Calibear, and HIPH will get some sort of commission or royalty. What bothers me is there is no mention of how much product was sold or the value of the product sold. From their site last week, it looked like they had a few thousand dollars of product available. That's not going to leave HIPH much after Calibear takes it cut.
The quarter is over and a new report is due in 45 days. It will be interesting to see how much revenue they actually report.
This is not a real interview with a legitimate news agency. As is stated at the beginning of the video, this is a paid promotion by the company. Knowing this you have to be very careful about believing anything that is presented in the video.
The proof of course will be when the next quarterly report is filed. Of course when you go to the website and look at the products that are available and their quantities; There's only a few thousand dollars of product available providing they sell all of it. Since APW is only handling the distribution, after it pays Calibear their share it doesn't look like there will be large sums left over for APW so I wouldn't expect a report to show a big difference from previous reports.
The PPS will be a reflection of what the company does with regard to revenue and profits.
If they cannot show positive results that are both consistent and have growth going forward, the PPS will go nowhere.
HIPH is a diversified luxury consumer products co; Their only problem is that they have no products to sell. They're hoping some company or individual will come along and fund their products so they can collect royalties because they have to funds to manufacture or produce any product in any significant quantity.
Until that happens their only source of revenue is to sell shares or pay for services with shares.
I can't get too excited with this news. Time and time again Josh or Todd has advertised a CC or update call with info for what was going to be news about the future of the company only to rehash the same info that was out previously. That's why the stock usually drops after they have their calls.
It's like when the old lady asks "where's the beef?". With Josh and company the beef is always missing.
My take is that if they really did have something to report, they would have already released the info; so I wouldn't be surprised if they just list the same old things that they went over in their last CC without anything specific or concrete.
I hope I'm wrong; also why haven't they filed the last quarterly? Todd promised to have the filing in by last Wednesday after they missed the deadline to avoid the Yield sign.
It's the same old story with this group of clowns "promises made, promises broken".
I don't know if you can call it a share retirement, because at the same time that the shares were returned to BLDV, the company increased the AS by 2 billion shares to 7,500,000,00
You're right there is always something with this team. Especially with some of this easy stuff.
This could all have been avoided, if they had just put out a date that they knew they could meet, and then file a few days early. That would make them look competent and instill a greater level of confidence, but again they waited till the last minute and ran into a issue. Very sad.
I guess the concept of under promising and over delivering eludes them.
Today's the day that the updated quarterly is supposed to be filed. Lets see if Josh and Todd can at least follow through on this one simple promise.
What are the odds they fail to file?
I don't understand why it is so hard to file a simple report. They should be able to take an old report and just change the dates since they haven't done anything.
Or at least file the one page form for an extension. That should take all of five minutes to do and avoid the YIELD sign.
I thought with the new CFO that this incompetence was behind us; I guess I was wrong.
The other thing that troubles me is that there has been nothing from the company saying why or what is going on to explain this lack of competence.
Management should rename themselves "The Keystone Cops".
And the YIELD sign is up again
If the quarterly isn't filed soon, the yield sign will appear again and that will drive investors to unload even temporarily.
Unless there is real positive news investors patients will evaporate and you will see them move on. But that still doesn't address the two issues facing the company I mentioned in my previous email.
Until they can fix those two items the PPS will go no where.
It's traded 700MM shares because:
A. Boiler rooms and pumpers keep interest in the stock alive with the possibility of a breakout coming.
B. People are unloading trying to recoup some of their investment and moving on to other stocks.
C. The company has put out fluff to garner interest in the stock that gives hope to making a quick profit.
Even with the trade amount you mention, the amount of money traded is not very large (approx. $12,000 a day). That amount indicates that serious investors are not noticing BLDV.
I'm still optimistic that the clowns running the company can somehow find a way to make money, but so far their results are pretty dismal. When they can't even file a simple quarterly return for a company that has little to nothing to report that pretty much tells the whole story.
They were supposed to return 700 million shares from Can10, and 250 million from an investor that they were buying back so the OS would be reduced by that amount.
The last word from Josh was that he had the 700 million shares, but couldn't return them because of some technicality that required them to increase the OS by the amount that was being returned. This made no sense whatsoever as they increased the OS by 1.5 billion. We don't know for sure where the other 250 million shares stands as of now.
Had they issued a quarterly report for period ending 6/30 on time then it would have shown there what the OS is and any changes. Unfortunately that report has not been issued yet and now the company is up against the time line where the OTC will slap a yield sign back on the stock for failure to report.
If they don't file for an extension, by next week look for the yield sign again. Even if they eventually issue the report and the yield sign is removed; the fact that they can never issue a report on time and usually it takes three tries to get the report right keeps investors away from this stock.
BLDV has two major problems to overcome for the PPS to increase.
1. The bloated share structure keeps the PPS down and instead of lowering the number of shares like they said, they have increased them by over a billion.
2. Lack of any real revenue or profits. The company has never made consistent or significant profits and continues to underperform and miss on PR promises and expectations.
Unless the company can address these two items the PPS will continue to languish at the current levels and even drift lower. Additionally now they are in danger of having the yield sign placed on them again because they can't seem to file quarterly returns in a timely manner.
I thought with the new finance guy this might be behind us, silly me, wrong again. BLDV is just spooning out more of the same fluff.
It was pumped to a penny and quickly retreated back when it became clear there was no buyback yet or a return of the 700MM from Can10.
Now the 700MM have been returned, but the company increased the AS by 1.5B.
That's hardly reducing the OS or AS, plus the 500MM still haven't been repurchased.
When the next quarterly comes out, the numbers will reflect just how many shares are out and authorized. At the current levels the PPS will never stay above .01 for thirty days unless they can show huge increases in revenue and profits; something they have been unable to do.
Even if the financials show a decent quarter they need to show they can sustain that level and grow from quarter to quarter to keep the PPS up.
He said it because he tried to do a reverse split (1 for 9 I believe was the ratio) but was denied by the DTC.
You have to remember the only reason Josh said there would be no reverse split is because he tried to do a reverse split, but was refused by the DTC.
I'm sure if he could resolve the issues with the DTC he would explore a reverse split again.
With so many shares outstanding and billions more available to sell unless Josh does a reverse split there's not much hope that the PPS will go above .01 for thirty days as there will always be shares available at these low prices.
So unless josh finds a way to buy back billions of shares, his only option is a reverse split to bring the PPS up.
OS share number won't change until the next quarterly comes out.
The new shares are regular common shares not preferred; so if they want to raise money with preferred shares they would need to issue even more in the new class.
They may be using the new shares to raise money for the new labs and general expenses. Hopefully they raise more than they need at .0024/share, and then with the left over funds maybe they can buy the shares back when they drop to .001.
Anyway no news on the 1.2 billion shares that are supposed to be returned, that means they probably won't return them or they wouldn't have issues more shares. They could have just used them instead.
Even if the additional shares are used for acquisitions, the additional shares will keep the PPS down and even drive it lower.
That will negate the value of any acquisition, plus prevent the up-listing from occurring.
As someone in the group pointed out recently, we may be heading toward trips again.
Again the lack of transparency and actions that are counter to what management says in their PR's is killing any integrity that they may have had.
Volume today is up; I wonder if the company is dumping shares to raise funds.
Looks like the company is increasing the authorized shares to 7.5 billion. What happened to the shares that were supposed to be returned?
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It's been two years without an explanation, so don't be disappointed if there isn't one issued.
Why do you think this has to drive the price up?
I don't see anything there that suggests that the price should rise.
" it's official"? There's nothing official yet. All we have is Josh's statement that the paperwork has been submitted and in Process. There is no official document that I have seen that confirms the paperwork has been submitted or is in process.
It is outrageous that two years has elapsed since Josh waived the 700MM share certificate in a picture saying that the stock will be returned to treasury and then later claimed that they needed signatures from Cann10, which they obtained, and now the stock still hasn't been returned. Very sad situation.
Plus what happened to the 500MM shares from Jeff King that Josh said the company paid $250,000 for? Why hasn't that been returned to treasury if the shares were paid for?
There has been no clear clarification or status from the company regarding these transactions either in press releases or the quarterly reports. This lack of transparency and inability to follow through with their plans and promises has always been a problem with this management. I was hoping with the new hires this would change, unfortunately it looks like I was wrong.
It doesn't look like the investors agree with you that the price will go up big time as the PPS keeps dropping daily. From a high of 4 cents a few months ago it's barely over a penny now, and the Lowes deal doesn't appear to have helped the price any either.
What will be interesting to see in the next quarterly report is if Scott has issued more shares to raise money. If the OS shares get increased then be prepared for a reverse split. That has been Scott's MO previously; he sells shares to pay his salary and finance the company, then reverse splits to bring the outstanding shares back down before he does it again. Over the years he has done this at least three times now.