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Let's be fair. Unless you have carefully considered both sides and read through the whole court document,making an judgement based on a newspaper article is not fair.If CEO and BTDG have no money, were they able to present their side of the story ? Maybe you are right I don't know.
More important for shareholders is that there was a judgement against BTDG. Is that liability reflected on their balance sheet?
Has anything been paid on it ?
So let us say the shares of the different businesses BTDG is acquiring have value. Can't Direct TV just execute the judgement and take those assets ?
Sorry I remain confused. If the report didn't report reserves , then where is the support for this key information ?
If the report as you say was filed only to provide some "PROOF OF CLAIMS" and general information , and it has created so much confusion would not a savvy CEO present in a filing or press release key information to clearly present the situation.
Has CEO visited the site ? Has CEO met the seller ? For that matter has he met Wilma ?
As far as the SEC they do not have the resources to research every single press release in the market ,and probably have to have priorities on which companies they review. So fact BTDG not shut down doesn't mean anything. CEO does seem to try hard. Cable , mining, mortgage lending, lead-generation, and now HIP HOP, all at once is pretty ambitious.
I appreciate your positive attitude.
I am a bit confused. BTDG reported in their press release that there were 1.5 million ounces of gold reserves.
The 43101 report does not refer to reserves. In fact in one section seems to indicate no drilling has been done on the specific property. I looked up also the SEC Guide 7 on their website. It says reserves can't be reported without a feasibility study.
Is there anything that supports the 1.5 million ounce reserve quote ? Did I miss something ? If CEO has no support for that information shouldn't he report the error promptly ?
- If you can show that BTDG has anything credible that shows 1.5 million ounces of gold reserves I will place a bid for 100 to 200 million shares for BTDG stock. Fair enough ?
On the other hand the claims apparently in a mining area and may indeed have some potential for wildcat discoveries. I do not know how one validates the potential, maybe CEO is in process of doing this or has done.
Perhaps you or another person can also explain the property which I don't understand. Does the report cover the claims that BTDG has purchased ? If it does then that negates the claim for reserves. If it does not , then why was it posted ?
I am trying to be objective, and appreciate your positive attutude. Thse are very basic questions for an investor to evaluate the value of BTDG and the management skills of the CEO.
Also, there must be some annual property taxes on the claims. How will BTDG pay for these ? Have the claims been legally transferred to BTDG's name ? The CFO seems to struggle with basic financial statements , can she handle the extra paperwork ?
Or the claims could indeed be very valuable. So in your opinion does CEO's track record show success at fund-raising, developing revenue,properly disclosing material facts,administrative ability , etc ? Or is his lack of success always someone else's fault ?
I have to agree press doesn't always report reality.
But what about the prior post describing how they engaged in this scheme ? Frankly I do not have time to read throughh court document. Concern is the pattern of over and over CEO showing poor judgement and inability to execute.
Anyway I posted what I believe are fair questions for CEO and CFO to answer about their disclosures , and simply deal with the immediate issues . SinoCan. HIP HOP benefit to BTDG. Why CEO recommended to issue 400 million shares and then abstained form approving. What are the true outstanding shares. Not under LOI or escrow or other hokey arrangements ,but the true outstanding sahres.
I would like to believe that against all the odds the Sino Can deal will occur or the HIP HOP venture will generate cash flow.
I would like to believe it is just ignorance and inexperience on part of CEO of BTDG that causes every deal they touch to not work out for one reason or another.
I would like to believe CEO just a fool and who believes any proposal he receives and automatically discloses everything and puts out press releases based on what he receives - whether any rational person would or not.
I would like to believe although he doesn't seem to know much about business law or running a public cmpany, that CEO is a top-notch technical person and has found a synergy with HIP HOP that will shake the ground we walk on for its wonderful leverage.
I hope you are right to be so positive about the stock, and look forward to BTDG putting out a press release announcing status of SinoCan deal ( the "definitive merger") , clarifying the conflict they themselves stated about the 400 million shares, and providing shareholders an explanation of how issuing shares to the HIP HOP gang will result in cash flow to BTDG ? Is all that too much to ask ?
So if BTDG hired Budd to promote company seems he didn't do too good a job. Mob Candy idea a joke. Sino Can I don't think anyone except CEO of BTDG believes is serious. And surely giving 400 million shares to the new company doesn't seem to have much to support it. And website implies BTDG still servicing hotel rooms with movies, are they ?
Yes Castle Creek Silver was a potential solid deal it seems that company backed out months ago. Note all of a sudden no mention of the company months ago. Not hard to see why - look at the original deal and then compare to BTDG press releases and pink sheet filings. BTDG must have had no intention to meet the terms since they blatantly ignored them. For example deal said BTDG not to incur debt- then it signs $2 million in debt arrangments. Of course BTDG puts their own rather bizarre spin on things.
Past is the past but seems CEO headed down same path with his deal with HIP HOP company. If you look at the deal boiler plate there are all sorts of representations and warranties. Bet all of Wilma St Louis financial assets that BTDG won't meet their own representations and warranties and HIP HOP deal in 90 days will fall through as well. But then BTDG will wait months before disclosing. Probably will blame HIP HOP leader as a closet country music star that BTDG's superb due diligence team finally uncovered !
Maybe you are right on his court case, I admit I didn't read the details.
Anyway seems CEO in over his head. He should step down for the sake of the stockholders and common decency. Or show how he will turn around the situation with no money, nor cash flow, nor even it seems an office pretty soon.
Sorry, usually I try to contact IR people but I just thought since you were in communication with him you could ask some questions.
The conflict issue is in BTDG's own filings ,and someone posted it was his sister or relative he gave shares to. So it just seemed it would be good for BTDG to address this and other questions.
Good point about HIP HOP venture that it is a new one. Just a nagging thought is that every other venture BTDG seems to get involved in never seems to work and price is dropping out of sight. When do you think the CEO take responsibility ? So you think BTDG ownership in this private company will result in cash flow ?
Yes you make a good point about CEO taking salary in shares. Just seems the CEO in such a difficult position that makes one wonder whether he can keep himself and BTDG afloat until the HIP HOP venture generates profits.
By the way, in your review of their filings do you think CFO doing a good job ? Do the financial statements in your opinion fairly reflect the debts of the company ? I admit I don't understand them, I looked in vain to see where the salary expense was in 2010. Must be there because you can't issue 800 million shares for a salary liability and not have it recorded somewhere.
You seem pretty open-minded and positive about BTDG so I am interested in hearing all sides.
When do you think it would be reasonable for shareholders to ask CEO to step down ?
I agree with you being charged with something doesn't make someone guilty.
But you have to admit there are a lot of unaswered questions.
The 43101 report has been covered here, but BTDG did put out press release there were reserves but the report says none.Should not they put out a press release admitting the error ?
The SinoCan deal you say is under negotiation. Considering the importance of this deal, why can't BTDG issue an update ? And if still in negotiation, CEO very privy then to inside information. Should he be buying stock under these circumstances ?
Do you think the mining/lead generation/mortgage company will generate profits or cash flow ? What experience does the company have ? How did board decide it was worth 400 million shares ?
Do you feel CEO has the management skill to operate in so many different industries at once ? Has he a track record the last year of delivering shareholder value ?
Do you feel CFO presents accurate financial statements ?
Since, you are in touch with CEO maybe you can let the rest of us know the answers to these questions.
Thanks for your posting up to date information from the horse's mouth.
Good point a lot of people for some reason like HIP HOP.
However can you explain how BTDG benefits to issue shares for a 20% interest in a private company ? Does that generate cash flow ? What is the number of shares given for that 20% interest ? Wouldn't that be fairly standard information for a company to disclose ?
Since you are in contact with CEO, since he was paid in shares last year, how is he being paid this year ? Can you ask him point blank why he doesn't update shareholders about the "definitive merger" scheduled for December ? Or put to rest rumors the 400 million shares he issued may have gone to a family member or his or close business associate ? Is his office building in foreclosure and how will that effect BTDG ? Has he paid anything on the Direct TV judgement ?
You are right some people just bash the stock over and over, but some valid questions are being asked.
Since you are positive on the company, considering CEO's dismal performance the last year, do you think he should step down? If he can't build existing business, and every deal he enters into doesn't work (somehow BTDG always says someone else's fault), and stock price just plunges, why do you think he should be CEO ?
It is not easy to short a Pink Sheet stock. And not enough volume in terms of $ in BTDG trades to make it worthwhile for market maker to do anyway.
Look at the trades, if BTDG had been seriously shorted a few months ago, there would be huge volume covering at these prices.
Just a myth unless you have any proof or strong indication it is the case.
You are on stronger ground it seems about the CEO . Considering his desperate situation, hard to believe he received any benefit from stock sales. His shares would have been restricted. Someone wrote his wife on welfare ( or was it the CFO ?) and guess he is losing his office space. If his salary in restricted BTDG stock , poor guy must be having hard times.
He is supposed to report stock owners over 10% and all holdings of officers and directors. Why doesn't he file this with PInk Sheets and stop all the gossip and rumors ?
Did you hear anything about the HIP HOP deal ?
Reading BTDG Pink Sheet filings is rather fascinating.
-BTDG filings show 5 offshore companies got 160 million shares each for settlement of debt. That 800 million shares evidently the float.Good question would be where did that debt come from initially ? Must have been an old debt. These shares didn't have anything to do with any deal. Maybe his old SEC filings have a clue.
- The original Castle Creek Silver deal didn't involve any shares actually being issued according to BTDG filings. It was a Share Exchange to close according to an Escrow agreement. Why BTDG would record the shares as issued since deal not closed is strange , all supposed to be in an escrow account according to BTDG filings. Wonder if CFO reviews these things.
- New HIP HIP deal and mortgage company/lead generation/mining company deals equally hard to know whether shares actually issued or just committed to be issued.
To CEO's credit he does seem to file everything , just doesn't make sense. He also evidently hasn't read Pink Sheet disclosure rules. Maybe his next filing will make clear situation.
I am anxiously waiting for the next press release about the merger !
Please tell me CEO's daughter not the one who received 200 million shares for a newly formed company ! Perhaps some of the people posting are correct this goes beyond CEO being ignorant.
Maybe Chairman and CFO could explain why they approved this deal ?
Good idea to call Chairman as someone needs to talk some sense into CEO.
Or maybe Chairman knows status of Sino-Can merger ?
Great research.
Isn't CEO of BTDG an officer of Eagle West ? Does BTDG pay rent ? What do financial statements show?
Is Tamara Hunt related to CEO ?
Wow this is crazy stuff thanks for posting. Maybe you are right it goes beyond ignorance.
What about the CFO. How does she approve these things ? How can they give 400 million shares for half of what appears to be a dormant company, owned by such close friends ( or business associates ?) that even our dear CEO abstains ? It is not even the 400 million shares that is so bothersome, but that our dear CEO even feels there is something so out of kilter so he abstains. This to me is worse yet.
From the filings the CEO made it seems he filed everything and the kitchen sink including emails, and even letters saying he couldn't find Sino-Can.
So one scenario is there is a CEO without business experience, without knowledge of, and not that bright. He then receives a fax buyout offer. He puts out a press release.
Now anyone else with an ounce of common sense would know no one would pay $.04 for BTDG. Hardly any investor would take such a company seriously. But our dear CEO seems to believe anything that is sent him.
An IR firm that is a mortgage broker ?
Everything points to the CEO being perhaps the most unqualified CEO in the history of American corporate finance.
So just maybe he is a complete idiot rather than a scoundrel, and at least from their filings it appears only float is the shares issued for debt in 2010 , which doesn't seem to be to CEO.
Though I admit using their filings as a source of information is a bit problematic.
Maybe you are right , but where does it state CEO or even BTDG for that matter benefitted from this inane way of doing business. False document ? What would make anyone think this Paul even knew what he was filing or even read first?
What was false about the merger press release- you are assuming this CEO knew he was misleading or untruthful - you may be giving him more credit than he is due.
While , both the CEO and CFO show incredible incompetency and ignorance, there is no law against stupidity and inexperience. And no one can show how the the CEO or BTDG derived a benefit from their idiotic way of doing business.
I mean who ever took BTDG seriously ? When you buy a stock under a penny what do you expect ?
Pink Sheet publishes their rules on type of disclosure and in particular on material events. CEO of course ignores all this. Pink Sheets can move the fastest starting with a "skull and crossbones" signal instead of "current information".
The CEO seems to believe he is a competent and experienced businessman, and has developed advanced technology that he will apply to the HIP HOP world. He should do the right thing and step down.
Oh come on, who would seriously have bought BTDG stock except for fun speculation. How would trading halt help any shareholders , then they couldn't even dump shares easily for a tax loss.
However more to the point would be to contact Pink Sheets. Even a brief review of their own guidelines for disclosure compared to BTDG filings shows serious gaps and revisions BTDG would need to make to be in order.
CEO of BTDG clearly doesn't understand running a business or a public company. CFO doesn't seem to understand proper financial statements. CEO appears to accept any idea sent to him.
The 800 million shares issued for debt appears to be the public float. Not sure how BTDG would have benefitted.
Time for CEO to step down unless the $.04 "definitive merger" is happening. Or a HIP HOP, lead generation, mortgage company corporate empire takes off !
Have you called the CEO or IR company ? Maybe there is a strategy that is being misunderstood ?
Thanks for the info.
Can't wait for next BTDG press release to see what CEO comes up with next.
Can't wait for next financial statements to see what CFO dreams up next.
Still waiting for the $.04 merger.
You bring up interesting point. The filing on pink sheets show that in June he filed his employment agreement showing $120,000 annual salary. However salary agreement signed in January 2010.
Looking at financial statements unless someone else can find, seems no salary payable recorded for his employment agreement.
Then in filing the shares for salary information, CEO included letter from CFO that does reference not only 2010 but also 2003 or 2004.
So guess you hit the nail on the head. He had salary agreement. However they did not show on the books. Then they realize error and for the fourth quarter of 2010 decide to record all at once.
CFO guess was in same position.
Anyway CEO and CFO saved company money it didn't have by issuing 800 million shares. Can one blame CEO for not understanding accounting or common disclosure requirements? Maybe CFO just a bit slow.
How will CEO and CFO be paid this year ? Will this CFO actually record the liability ?
Of course HIP HOP network will save the day !
What is lowest price BTDG can be before it stops trading ?
EarnestDD,
-Looking at the filings made , it seems the Castle Creek Silver shareholders never received a single share from original deal which was never closed. They must have backed out when they saw how BTDG was run.
-HIP HOP shares who knows if actually issued or ever will be ? The amount is also unclear , as what is 10% or 20% of BTDG ?
What is more interesting is recent events -
CEO gets 600 million shares , CFO 200 million shares
Some new mining company/mortgage company with no apparent operations or personnel gets 400 million shares BUT CEO of BTDG refrains from voting on transaction. Are these his friends? Or?
However if CEO only has restricted shares maybe he doesn't benefit from his poor management.
You are right that knowing what shares have been issued is a confusing one. It does seem the pattern with BTDG is they announce shares to be issued under Letter's of Intent, and retain voting rights, but then never close the deal. Wonder if the transfer agent actually issues and sends out shares ? Or does transfer agent just hold ?
Why is BTDG so anxious to increase dilution over 1 billion shares in just a few weeks ?
On the funding still have question. If BTDG isn't issuing free-trading shares, how is the company funded ?
Maybe there is a method to this madness and now that CEO controls the Company the HIP HOP company will hop the company to success.
Does CEO believe merger for $.04 will still occur? Is there a phone number for the CEO that he answers ? Or is the CFO handling negotiations ?
Has anyone spoken to new IR firm ?
So many questions, so few answers.
She must be an interesting person.
BTDG issued 600 million shares to CEO and 200 million shares to CFO for salary payable.
Couldn't find salary accrual on financial statements.
How is BTDG being funded ?
Sorry did not know Wilma was a man.
Where is news on merger ? Why no update on this "definitive merger " ?
Since BTDG a disaster would CEO consider stepping down ?
Since everyone seems to agree CEO not too bright , maybe Chairman Russell calling the shots ? And who is the CFO who prepares such silly financial statements ?
This is the most ridiculous and confusing company I have ever seen!
The 160 million share blocks appear to be the public float. So 800 million shares.
The cancelled shares refer to a deal that was never entered into escrow according to BTDG Digital's filings. So the shares could never have been issued in the first place. And if cancelled, can't be transferred.
Then CEO and CFO issue themselves 800 million shares.
Then they issue hundreds of millions of shares for 10% of HIP HOP company.
Now the grand finale. A company that BTDG says is a mining and a mortgage company it acquires a 50% interest in for 400 million shares. BTDG says it has numerous divisions. However CEO refrains from approving the transaction.
Where is Wilma when she is needed ?
And a pesky question, where is the $.04 merger ?
What next, B2 Digital forms Penguin skin care company for 450 million shares ?
Earnest DD, in our prior posts I had mentioned perhaps instead of a scam that the CEO was just didn't know what he is doing. His filings on pink sheets reek of someone who hasn't a clue how to do business.
He issues himself 600 million shares for a salary liability of $120,000. So I looked up his latest financials. No salary liability recorded.
Still no news on merger. Plus looks as like he has issued shares for some gold claims from his "gold connection " in Canada.
Maybe you are right , who knows.
Clearly time for CEO of BTDG to step down.
The Castle Creek Silver filing made by BTDG is ridiculous.
Clearly Castle Creek people backed out of doing business with BTDG. If you look at original agreement BTDG agreed to not issue shares , incur more debt, etc etc. BTDG's press releases alone show it didn't meet those terms. Instead now BTDG "cancels" agreement but sets up its own company with similar name , to do mortgages !
I had heard that Castle Creek stopped any association with BTDG once BTDG got involved with Firma Gold and that was months ago.
I wonder if the shares reported were ever even delivered to anyone !
The HIP HOP deal is also suspect as it is signed with a company that appears to have changed it's name up to 8 times in 10 years.
Since those shares were in some escrow one would think they were cancelled at some point. BTDG filing shows it was an Letter of Intent so maybe never issued. Guess we won't know until next quarter financial statement. Clearly as you point out that company must have backed out.
Judging from recent filing those shares must have been cancelled. If 800 million issued for debt, 700 million issued to CEO and CFO, and 500 million to HIP HOP people then that is 2 billion shares right there.
What happened to the big short position BTDG discussed in their press release?
What happened to merger, why no news ?
Anyway company future now in HIP HOP and with CEO now the major shareholder will be interesting to see the new BTDG. Seems like a new direction , will be interesting for sure !
Has anyone called the new IR firm ?
Very interesting situation. They agree to sell all shares for $.04. How do new shares issued affect the buyout ?
Then, following issuances occur : 600 million to CEO, 100 million to CFO, and 500 million for Hip Hop investment. This is on top of 800 million shares issued in 2010 to settle debt in 2010. This implies total outstanding shares of around 2 billion.
According to press release 500 million shares is 10% of BTDG, implying 5 billion shares issued . January 8 pinksheet filing says 3.1 billion shares outstanding.
Math doesn't add up. Maybe BTDG can update shareholders on status of buyout, and how they arrive at 3.1 billion shares. Or maybe new IR firm can answer.
On the plus side seems CEO firmly in control , maybe this will be BTDG's year !
Wonder if new IR firm , evidently a mortgage broker, can shed more light on situation ?
It may be a scam or not, but it just seems the company so poorly managed and maybe just posts whatever it receives. I mean seriously who would believe someone would pay $.04 per share ? Is it possible that all this is just incompetence or inexperience ? What sort of scam would post emails on its pinksheet filings ? It just seems that it might not be a scam.
What tells you the press releases were deliberately fake ?
The pink sheet filing indicates CEO just got 600 million shares , and 800 million shares last year were issued for debt. So it appears CEO now is the major shareholder. Maybe that he will make some changes. The HIP HOP transaction certainly indicates a change in direction.
Actually evidence points to sheer incompetence but I guess we can agree to disagree, as some apparently think this is a scam. I doubt it , as simply it is ridiculous to think the B2 Digital/Firma Gold/Hip Hop combination could be dreamed up by anyone in a logical fashion.
Did anyone really believe that BTDG would be sold under the "definitive merger" agreement for $.04 per share ?
Since CEO now controls company will be interesting to see the next steps !
Seems like there is a new major shareholder according to pinksheet filing. Any thoughts ?
Earnest,
I looked again at the press releases and pink sheet filings of BTDG. It appears they simply reported what they had been told, and filed what they were provided. In fact they filed even more than most companies would. (Who on earth files copies of emails ?) The NI43-101 report did look rather odd ,and who would believe the Sino-Can offer anyway ?
Is it therefore possible that simply management simply didn't have experience to judge, as opposed to your comments that appear to indicate they deliberately mislead people ?
Seems a speculative bet for speculative investors gambling.
sj
With all due respect there is no law against inexperience or poor judgment by the management of BTDG. Do you have anything to indicate that the management of BTDG knew they were filing incorrect documents, if they were ? Seems looking at the type of documents filed (including copies of emails, directors' meetings, etc) the initial impression is simply of inexperience. Just look at the difficulty they have had even issuing a stock dividend.
Or does this look like a sophisticated, intelligent and experienced company-management to you ? Lack of substance doesn't mean fraud. You obviously follow this company in detail, so maybe you are correct, who knows.
As I said it seems speculating in BTDG is gambling and I can't imagine any investor would take a $.04 buyouy offer seriously. Anyway just seems fair to keep an open-mind and not accuse people perhaps unfairly.
Earnest DD, apparently BTDG has filed on pink sheets all the documents they have received. Maybe the answer is simpler than you believe. That answer is that BTDG isn't trying to mislead the public but they believe what they release. This indicates poor management nothing else. No one trying to do a marketing scam could be so inept as to claim a stock under $.001 per share would receive a $.04 buyout offer ! No normal person would buy a stock under these circumstances considering it any more than a sheer gamble. So relax, let us see what next BTDG releases !
You are quite correct a chart would be most helpful.I am technologically challenged so do not know how to add a chart,if you could do so it would be helpful. I did not know making a post makes one the moderator !
Chester Mining remains a low float high-value per share stock that is a sleeper until recognized. It is very thinly-traded so accumulating over time in small amounts makes sense.
It would seem if one accepts speculation, and is patient, for a bet on silver Chester Mining in my opinion a reasonable bet though not the only one.I like it- simple and clear speculation on silver without having to worry about management spending too much money or issuing too many shares !
Chester is a medium term dream stock if you want leverage to silver.
1. Low Public Float : while under 5 million shares, most in hands of insiders who can only sell 1% of outstanding shares per quarter.
2. Resources/Reserves : the NI43-101 rpeort on the Sunshine Mine ( available on sedar ) shows over 50 million ounces in the Chester vein area.
- How many low priced stocks like this have a NI43-101 report showing actual resources located in the heart of the richest silevr mine in American history AND management who is waiting for much higher prices to sell AND not taking out salaries ?
3. Potential : the Chester vein area is part of any future of the Sunshine Mine. It has also other mining assets.
5. Merger/Takeover : Whomever ends up with the Sunshine Mine has no choice but to do business with Chester Mining.
6. Cheap Management : Management hardly spends a dime, doesn't take salaries.
The stock has traded as high as $6 in the past few years, and is very thinly traded. So key is to buy in small amounts and accumulate over time.
I would hazard a guess a good selling price would be in $6 to $9 range within 1 to 4 years.
For the more speculative investor, act as a market maker, have order in for 2,500 shares at least 15% over the bid, and sell 10% under the ask, but do so continually. Over time this for the patient investor can deliver good returns. Liquidity is low for this stock to be sure.