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It may toggle between Pink and Yield, if management doesn't file the required reports and forms on time. BLDV has a record of filing late, but they were supposed to have hired a financial person to make sure that the filings were done on time.
Recently Josh said they were in the process of doing an audit that would allow them to up-list, and that was the reason for the delay in filing the quarterly/annual report. They finally did file the 4th qtr/annual report, but later than the date Josh gave. They also filed the first quarter of 2021 on May 10th. Technically that is also late, but I think there was a grace period given because of the pandemic, so it may not be late. However there was no attorney's letter which I think is a requirement, so that may be the reason why the yield sign is there again.
If they get the yield sign removed within the next week, then it should remain off until the next quarterly report is due (around July 15).
Obviously if TD Ameritrade, E-trade and the other platforms do not allow you to buy the stock, it makes it harder to trade.
My understanding is that you can still buy if you call the desk and get special permission to buy by filling out some forms, but how many people will take the time to do that?
I'm not sure specifically why the yield sign was put back up, unless they need another attorney's letter. If that is the case then that should be an easy fix to get the yield sign removed. Although with Josh you never know. He never seems to get things right the first time, but by the third time he usually figures it out.
"Will BLDV quietly be reverse-split, or taken private?"
I don't think the DTCC will let them reverse split. They have too many skeletons in the closet and will need to bury them first. To do that takes money, something that they don't have.
I would agree if Todd and Josh had disappeared, but they are still here running the show.
Does anybody know what caused the yield sign to go back up?
Could you tell us what the stuff is we don't know, so that we all know?
The company sells stock to raise working capitol, but then it'll do a reverse split to bring the OS back down.
Be careful, Scott has done this several times in the past.
You mean someone else's product. That may be how they test the product for their clients.
From their website
"HARVEST 360 DOES NOT SELL OR DISTRIBUTE ANY PRODUCTS THAT ARE IN VIOLATION OF THE UNITED STATES CONTROLLED SUBSTANCES ACT (US.CSA). HARVEST 360 DOES NOT GROW MARIJUANA PLANTS, DOES NOT PRODUCE MARIJUANA PRODUCTS, AND DOES NOT DISTRIBUTE MARIJUANA IN ANY FORM OR SHAPE."
Actually it's not early, because Josh said the report would be issued one week after he pulled the report.
Then he issued a statement that said it would not be reissued till May 20th because they wanted to have it audited so they could apply for up-listing. This report is still unaudited, so it should have been issued one week after he pulled the incorrect report.
Again these are simple things and mistakes that real companies just don't do. If a company makes an error that's one thing; these clowns make errors like they're taking vitamins.
Hopefully one of these days they'll get their act together.
It may be on time or ahead of time, but it doesn't have what was promised in it.
Maybe he will reissue two or three more times like the other reports.
Regarding the issued annual report:
The Cann10 and Jeff King stock still hasn't been returned. So much for Josh's commitment to have it reflected in this report.
Also I see the outstanding preferred shares have increased so the conversion to common would be about 2 billion common shares in addition to what is outstanding now.
That is my understanding regarding the share structure.
The other issue however is that there are preferred shares issued that can be converted into 1,275,000,000 common shares which would bring the float back to around 2 billion shares.
The 700M are being returned from Cann10 and there should be no money involved in the return. This was by mutual consent by both parties to end their relationship.
The shares at the DTCC are frozen because of some dealings that John Q Moaning did that led to possible litigation between parties. As both parties didn't have the money to spend on legal fees those shares remain in limbo and cannot be traded. It would be nice if the issue could be resolved and the shares retired, but that is not likely to happen. Because those shares are currently frozen at the DTCC they are required to be included in the float current number.
Why would a SPAC spend hundred's of thousands of dollars buying this stock when they can buy a clean current company for under five thousand dollars?
You're right, there is always an element of trust involved when you depend on other people to do something or perform tasks. The problem with BLDV is the management sometimes acts like the Keystone Cops. That doesn't mean we should give up hope that they will somehow be able to come through.
As I said I believe their heart is in the right place; now they need to get their brains in the same place.
If they release a reasonable quarterly/financial report before the end of the month, and the stop sign gets removed a couple of weeks after, that should cause the PPS to spike.
The other item that has me curious is the retirement of shares. Todd said he was going to reflect the share return in the annual report. If he does that then watch out for the share price to jump.
It's not a question of trust. Their level of incompetence is concerning because they can't even get the simple things right the first time. Almost every quarterly report has taken two or three tries before it is correct. For a company that does so little business and has such an uncomplicated return, that is inexcusable.
I believe the only reason this happens is because they are sloppy and careless. The company I worked for would never tolerate that level of irresponsibility. I also believe that both Josh and Todd want to do a good job at bringing the company to the next level. To do that, they, need
to make sure the details are not ignored. Meyers the old CFO was supposed to make sure these things didn't happen, well now he's gone. Hopefully a new CFO will do a better job.
They were already issued, but Josh and Todd pulled them back from the OTC because they had the incorrect CFO listed in the report.
Josh then released a PR saying he would reissue next week, but then issued another PR a few days later saying that they wanted to use 2019-2020 for the audited reports and that it would take more time to complete the audited financials. That's when he said the reports would be reissued no sooner than May 20th.
Tuaparker is right there is no real company or assets, so why anyone would want to buy these shares makes no sense, unless it's some boiler room pumping the company to make a quick profit.
There are over 13 billion shares out; for someone to get control of a public company would cost too much money to get nothing in return. If someone just wants to buy a public company there are loads of clean public orphaned companies that can be purchased for a lot less.
The Stop Sign will remain until the financials are reissued. Per Josh they will not be reissued until May 20th at the earliest, so expect to see it for at least the next three weeks.
Hopefully he follows through on the other things he said regarding using the years 2019 and 2020 for the audited returns so the company can apply for up-listing. If he provides the audited returns, then he only needs to figure out a way to get the share price up to a penny for a month to up-list.
Teens coming soon, this is your opportunity to average down.
Nothing is coming till the company reissues the quarterly/annual report, which Josh says won't be reissued till 5-20 at the earliest. That's assuming Josh can get it done by then, and we all know how accurate his dates are.
Until then the PPS will flounder in this area or drift down somewhat as investors loose patience and others are prevented from buying due to stop sign.
If the report is positive, and the 1.2 billion shares are returned like they promised for this report, then everyone will be rewarded.
For now hanging tight.
Ryan has announced on his twitter account that the Starbucks news is fake and has already been removed. He also said that the company lawyers are contacting the person responsible for the post.
Interesting article, unfortunately HIPH doesn't have any water to sell.
You may still have time to open an account with E-trade.
Because the report will not be out for at least another four weeks, and it may be later than that based on past history of Josh's timing, the price should stay at the current level or move steadily down a little every week as investors become impatient and move on.
Even if positive news is released before the report, typically it has the effect of moving the price down slightly so you still have time.
As I've said previously, I'll hold my positions for at least two more quarters. My opinion is that it will take as least that long before we see any real results if any.
ChinaWorx,
I hope you're right about the 2.6 billion shares at the DTCC. That would clearly get the share count in the neighborhood it needs to be, but so far I have not heard anything regarding the return of those shares.
Friday I sent an email to Josh and Todd to address the share reduction, and clarify their position regarding a RS. I'll post any reply if I get one from them.
In the meantime it will be another month before the annual report is published per Josh, and the stop sign will continue to be there preventing some investors from buying. This inability for some to buy I believe will have the effect of pushing the PPS even lower.
I'm keeping my fingers crossed that the report, when it does come out, will be positive and start a rally. Remember, they promised to have the share buyback and the shares from Cann10 reflected in this report.
To up-list the PPS needs to be above .01 for a thirty day period. At the current price of about .0025/share and using the latest outstanding common share count of 5,475,585,689 (excluding the amount that the preferred shares can be converted into), to get to the .01 equivalent the company would need to retire over 4.1 billion shares.
I'm not saying they can't do it; there just doesn't seem to be a reasonable way for them to do that based on their current condition. It would be nice if Josh or Todd provided some guidance of how they plan to get the PPS up.
Josh had attempted a RS previously. I hope that is not being considered again. That would wreak the company. The fact that he has not denied the possibility has me somewhat worried.
The subject of a RS came up because Josh has already tried to do a reverse split, but was denied by the DTCC. The denial came due to objections from some stockholders and some legal issue. Once Jeff King gets his money for the 500MM shares, the path for the RS that Josh wanted to do may be available.
It would be nice if the company (Todd or Josh) issued a statement clarifying their position regarding a RS; also an update on where the stock retirement and buyback stands. I guess that's too much to ask for.
I believe BLDV gave the investor the shares as collateral for a loan and returning the shares was part of the loan retirement.
They did issue a PR saying that the retirement would be reflected in the 4th quarter report correcting their statement that it would be reflected in the 3rd quarter report.
Hopefully when they reissue the 4th quarter/annual report this will show up.
The retirement is not from Chris Myers. There was a different name of who owned the stock.
If I have time I will look for it, but it was definitely not Chris.
They received a fee for writing the permit application.
If you know of something else they are doing for Dharma please post the information.
BLDV has completed the work with Dharma and is no longer expected to get any more revenue from them.
The only work that BLDV was involved with was writing the permit application.
Even at 10 times that because of the number of shares outstanding, the PPS increase will be negligible.
The company needs to reduce their shares outstanding by 3-4 billion at least.
"Go Pronto, H360 Labs, licensing deals, Kushmaster Royalties"
It is unlikely that these revenue streams will be of a size that will have a large effect on the PPS if they don't reduce the shares outstanding.
If the company had $20,000,000 in revenue at 50% profit ($10,000,000) that would translate only into .0025 earning per share.
Hopefully the updated report will show the stock retirements. Back in November the Company issued a PR saying the following:
Blue Diamond Ventures Inc.
November 16th 2020
Blue Daimond Ventures Inc.
Correction:
The previous press release ( November 11th ) should have said that the stock adjustments will appear in the 4th Qrt Report, not the 3rd Qrt.
These transaction are in the month of November and will appear in the Annual Report to be submitted at the end of the year.
This was the release complete with all the typical spelling errors that Josh makes.
Lack of Detail:
I believe the lack of detail is a result of Josh being in charge of issuing the updates and reports. This seems to be typical of the work quality he has put out since taking over BLDV. Todd needs to hold him accountable for issuing accurate and correct information or find someone who can.
I believe it was for a repayment of a loan from the investor. I'm sure someone on the board has all the info and particulars including the name of the investor.
There were two different retirements announced not yet executed:
1. 700,000,000 shares from Cann10 that was to be returned because their deal was cancelled by mutual consent.
2. 500,000,000 shares that were repurchased from an individual investor (I'm sure his name is on the board somewhere) for $250,000.
This would reduce the outstanding share count by 1,200,000,000 shares.
The problem is the amount still outstanding:
Currently there are the following shares outstanding
Outstanding Common Shares 5,475,585,689
Preferred Class B-Out 300,000,000 Converts 3 for 1
Preferred Class C-Out 97,500,000 Converts 10 for 1
If you convert the preferred to common the total becomes 7,350,585,689 common shares. Even if you retire 1.2 billion shares that still leaves 6,150,585,689 shares of common outstanding. This number is way to large for the PPS to move up unless they can find some huge revenue/income source. Their current business plan does show a large revenue generating source.
It is highly unlikely that they are shorting in any way because they have no money to work with. Based on their last report before they pulled it, the company has used most of the funds that they had from the one quarter where they had $1,000,000 in revenue.
What they need to do is update stockholders on the buyback they announced a while back. If they haven't done that yet, bases on the last quarterly report, they don't have the funds for the buyback anymore. Also why were they willing to pay $250,000 for the 500,000,000 shares. At the time the share price was about .0003/share, and they were willing to pay .0005/share; that's a pretty big premium over the then current share price.
The only way that makes sense is that they are planning a reverse split like Josh wanted to do originally (9 for 1), and the buyback allows them to go forward with it.
Been in BLDV a long time no sense in bailing now. Patience may still be rewarded, but the management can be very frustrating with their lack of professionalism and mis-steps.
Just look at the chart. All of 2020 until Nov the price was .0002-.0003