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Thrill - I wanted you to know I sold all of my position about 2 weeks ago. I chose to take the money and run....reason:
DD - the last Q showed Malik with 295,000 shares. I called the transfer agent and almost all of the approved increase of 90mm shares has already been given to Malik! I thought these shares were to be for "operating expenses". Smells really bad to me.
Again, I did meet Sawyer over a year ago, and I liked him...I think he was "sucked in" by the two major shareholders, but just a guess. (I've been mislead before and taken the hook.)
Positive - It is well known that the VPLM corporate address is just a location for their mailbox. They did that to keep their overhead low.
Good luck to all, but I'm done.
One last note, maybe the board should consider renaming the company. :)
Valuable
Patents
Lure
Multi-Billionaire
Need to go now to find some cheap shares. Have an enjoyable weekend...Monday will be a good day, IMO.
thrill97 - Was at 1,100,000, but had to do 150,000 shares at the prices late yesterday.
Today might be another Warren Buffet day, IMO. Time to buy a company with a product you believe in, when others run scared.
Have a nice weekend.
Beer & CEO's (combined reply)
7-7-14 Very positive PR, stating LOI (1 or 2) in hand and negotiating.
7-30-2014 (or before) executed LOI with:
$1B for Licensing of Technology + Royalties, which will be paid out to all shareholders over a 5 year period as an annual dividend.
Thanks again, fromlowtohigh, just glad to be "even" now, with possibility of a good upside. We've all been on the other end of the stick before! :)
Thanks, but I've only got my original investment back, so far....
Yes, announcement Monday, pre-market. Maximum $3/share. I would welcome $1/share.
IMO, there will not be any announcement until Monday pre-market. You start the week off with announcements, not just before a holiday.
IMO, good chance to buy shares until 1PM on Thursday, with some of the shareholders running scared with no announcement. :)
I'll put this question to rest, yes, Dr. Sawyer is real, I have personally met him. IMO, he is a gentleman. EOM
thrill 97.....Mark or not, you have posted some good advise...to take money off of the table. You questioned me about my "Quarter", yes I bought $250k at .13, and thanks to many nice people, sold about 800,000 shares last week at .31, got my money back and now here for the ride with 1,100,000 shares. Not many shares compared to you other sub-penny guys, but I'll take it. GLTA.
CEO, enjoy your guessing game. IMO, the deal will be announced on July 3rd, for under $3B. But here's the other part...is the buyer from Japan or China? Play ball.
Thank you. Fair question, no secrets here...Yes I did. I've been in for 10 months. Started buying at .08 and stopped at .23.
I'm in here and one other stock because of a guy in Houston called the "Problem Solver". I met him in 2005 when he started his 9th turnaround. I was owed $40k by a local company that I did offshore deliveries for, and the CEO was a blowhard always promising payment, then their atty called and wanted to work out a deal to short pay me, "or else they would file bankruptcy".
One month later, the "PS" called me and asked to meet with me at my office. He looked me in the eye and said he would make the company profitable in 30 days and bring in new operating money. He asked if I would continue delivering for him for 30 days, then they would deliver a check every Friday morning for my old receivables. I said ok, I knew I wasn't going to get any money from them, so 4 Friday's later he called me and I picked up my first check. In three months I was current.
After 6 months, he had me over for lunch. There were owners of 7 local companies there when I arrived. He thanked us for sticking with him and wanted us to meet each other and start doing business with each other....we did.
The "PS" was always working, so a number of us would "arrive late in the day" and talk business with him. We all learned so much and one day he said he was taking DPDW public. We said what's that? Almost all of us started buying DPDW at .03. When "PS" got ill and resigned, we all sold our stock at over $2.00. It topped out at 2.35 and guess what, is now back to .06 excluding the reverse.
The reason I don't post is because a few years ago, I posted about this company, Deep Down, (DPDW) and was pooped on by some other posters, so I stopped.
A year ago, I caught up with "PS". I had to ask, where have you been....still looking at companies with great products needing money and new management. Anything interesting....I like the products at WNDM and VPLM, and the companies are a mess. EOM
Hello to all. I read your board, but never post. Thanks for letting me read along!
No secrets here, just wish I was with you earlier at a lower price, I'm in for $250k at 13 cents.
lbird33, good move going back to the cc to verify. My opinion is that only Sawyer is experienced handling conference calls, since he did not offer up a number.
I do thank IR for responding within a week after three of us called and asked for an update from the company.
If I may, just 2 thoughts:
1. VPLM disclosed they are providing due diligence with possible suitors, so we know they have received one/more Term Sheets or LOI's, but remember they only have to file an 8-K after the execution of the Definitive Purchase Agreement.
2. I believe their next step will be to have a formal "PR Campaign", to drum up support in the market. We'll see if I got it right.
I was going to stay off the board because this company makes me sick, but this one needs addressing.
Don't you remember that the company was getting ready to file for bancruptcy before Seidhoff came in in 2005. He made them very profitable, took them public and then "resigned" (review the statement) and took his money.
Since then, the three amigos have, IMO, have taken all of us to the woodshed.
If you "haven't canvassed a large sample...." then don't talk about something you know nothing about. It's a $40mm company, period, and they have had three to four people over the last 3 years making $400k to $500k in total comp, etc...just look at the percentage for S,G & A, for crying out loud.
What is your reasoning that "the last 2 years is due more to the recession........". My goodness, wake up.
Good luck.
IMO - That is a very true and detailed report of your experience with DPDW and not too different than mine. I am sorry you lost so dam_ much money, like the old moderator, brick, I think.
I do not currently and will not hold any DPDW stock, and should also stop posting now, but first want you to know that I did own the stock and that IMO, this is where DPDW put it to the original investors.
Chamberlain gave a BIG DISCOUNT to the market price when he raised $40mm for 57mm shares (70 cents/share), not including the dilution of the money received by DPDW when they received less than $37mm after they paid Dahlman & other expenses to raise the money to payoff Mako and buy Flotation and IMO, overpay themselves for the work they had done.
IMO - besides the big fat salaries for 4 people in a company with only $40mm in revenue, this was the beginning of the end for DPDW.
Not only because they overpaid for the companies, but once they started running the companies, the two new companies lost money and have continued to LOSE money every quarter after buying them. Why else do you "really think" they started combining statements from all 4 of the companies?
I have no reason to think this at all, but my "feeling" is they come close to making money this quarter, why, because they have to so anything possible to post a profit if they are going to get financing, investor equity and keep the stock price above 5 cents.
Best of luck and goodbye for awhile.
IMO - A manufacturing company runs very different than a film studio, why, because the COGS are a MUCH larger part of the sales price and you cannot stretch out the payments to local steel companies or they won't do business with you down here, also if you don't pay delivery/trucking companies within 10 days, they can they can put a lien on you, a little different than a limo service.
You are right, we'll never know the whole story....but I'll bet they had more than one "tech guy" if they really supply the GOM with the "best engineering solutions".
Hey flyguy, nice to hear from you (whoever you are)!
Other people not in the service business in Houston don't understand what a "small" town the 4th largest city in the US is.
The food is good at that restaurant, but the cold beer after work on Friday's is where "lots of bs starts flying".
I can only speak for myself, I have also chosen not to deal with DPDW and IMO - a very arrogant Smith.
Dig away.
Understood with the boating business, but I have one question, why did the 3 amigos get into the business and borrow so much money, just when things were going down the tubes especially the large boats that were on the website? IMO - that is what they do, borrow money and see what happens.
If there is a disagreement in top management, some do "cut a deal" to move on, like the people that returned around 40 million shares a few years ago at DPDW.
Best of luck.
Sounds good to me.
Yes, I do hope you make money on DPDW. Only an As- would want someone to lose money when almost every small investor in the US is getting their butt kicked in the market, especially those in DPDW who have been long, only to see their money go down the toilet.
And yes, I do have a problem with the current management and past management, Chamberlain, getting fat on the public market. Can you believe Smith and Butler gave Chamberlain such a huge severance package and let him keep 26 million DPDW shares since he was the person who overpaid for Mako and Flotation? Maybe they did it because they were all stuck in the "boat deal" - AIMO.
DPDW employees because of a lack of cash - IMO.
Yes, I agree it was a personal attack since brwtrplot first called me names and threatened me that I could be subject to legal proceedings....of course his comments were left up for a few days, and then taken down after my "returned fire" to that person. For my part, please accept my apology.
I believe the second response was more detail about how many local businesses know what is going on at DPDW. If you have lunch at the local mexican restuarant on Sheldon Road you can hear PO'd employees talk loudly about the DPDW "fat cats" and all the money they are paying themselves - IMO.
Trueheart, of course you are correct. Cargo Hauler and TurnKeyOil have it right, also.
Evidently, 10 Bagger has never been at the closing table when a company is purchased or sold.
Goodwill is, as 10 Bagger says, the difference between the sales price and the assets appraised value. This is where people can say "fake", but I think Cargo meant to say an asset with no "tangible" value.
Maybe they will conclude the purchase, but the books will be scrubbed, like TurnKeyOil says, because it's best to take the writeoff's now during an acquisition or ownership change....it's always easier to explain the bad numbers away to the investors at that time.
I do hope y'all make money, so goodluck, I'm just glad I didn't buy in at $2.35 (high), $1.00 ($12mm), $0.70 ($40mm) or anyother number above $0.05.
I agree, there is nothing wrong with posting about the bancruptcy of the boat company.
It was purchased by the Chairman, CEO and CFO of DPDW at the time and it took less that a year for these 3 people to run it into the ground.
That is very similar to the continued LOSSES at DPDW every quarter.
The fact that they each (total & severably) owe the bank over $7mm is a huge problem, because of the personal guarantees they had to sign with their lender, just like the personal guarantees they had to sign with the DPDW bank, Whitney. Just hope they do not have to file personal bancrupty to get away from the Ship & Sail liens, because it would affect their ability to borrow at Whitney - IMO.
As I replied to you before, 10 Bagger, I didn't create a name just to post it, cause here I am, I just wish you would not have deleted my other 2 posts.
Cargo, thank goodness you have your eyes open. DPDW spent $52mm on the payoff of existing debt, 2 acquisitions with the leftover cash for operations that their bank required them to have (covenents).
DPDW has blown the millions of dollars of this extra operating money and they are broke. That is why they are so far behind on the payments to their suppliers, see the last 10Q and the changes in A/P, A/R, cash on hand and compare it to the prior quarter.....and that's not IMO, I know it for a fact, you see I have been a supplier for DPDW.
Yes, I was right and I replied to brwtrpilot, listing my name, where I lived and that everyone down here in east Houston knows what is goint on at DPDW.
That reply was deleted by 10 Bagger.
I replied again with more DPDW information - the layoffs 2 months ago - to try and make the first quarterly profit since Big John left in early 2007. The local suppliers all got paid back by him in 2005 when he came, but he is long gone.
That reply was deleted by 10 Bagger.
The tombrady's message about all of the messages being deleted on this board....was also deleted.
Yes, I do remember them. Funny times.
What's not funny was the $572,000.00 941 tax lien filed against DPDW, yesterday.
I like to read your board since I'm from the Channelview area. The word on the (local) street was they had a "large layoff" a couple of months ago, so they could post a profit.
I have a very small business and even I know that the one payment you ALWAYS make on time is your 941 payment.
If they are not paying the IRS, then you know they are still late paying their vendors (review last quarters P&L, A/P, A/R and change in their cash position).
Glad I'm just watching this one.