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I've been watching DPDW for years...used to own quite a bit...these guys in charge are genetically programmed to screw up. It would be comical if they weren't stewards of other people's investments.
Hey Tom...dead money, dead board. No sense waiting several more quarters for that promised growth.
I'll just catch this on the way up if things ever come together,
just watching this now,
have a great weekend
Everyone is "fat, dumb, and happy"
I disagree...management is fat and happy...it's the shareholders that are dumb.
I'll be dancing with you TB, but more often that not, this has been the Charlie Brown stock...remember every time Charlie Brown tried to kick the football, Lucy would pull it away at the last second? and he'd always get suckered into really believing that this time things would be different...and then...
Yeah, I've been loading up too...on whiskey...it eases the pain that this dog and sorry management team has inflicted on my wallet.
DPDW PPS follows the price of oil...no wait, it is a value stock...no wait, it is a hurricane stock...no wait, it is a superstar stock that just requires patience...no wait, it is being manipulated...no wait, the shrewd management is sacrificing the short term for the long term good...
Hmmm...maybe it's just an underperforming dog.
So that when the angry bagholders get hold of them, the authorities can identify the pieces.
...jk...
Form 4's? Our brilliant,astute management doesn't know what Form 4's are, or any forms for that matter. Reckless...but I hope they enjoy their bonus money.
Section 16(a) Beneficial Ownership Reporting Compliance
Section 16(a) of the Exchange Act requires the Company’s officers and directors, and persons who own more than ten percent of a registered class of the Company’s equity securities, to file reports of securities ownership and changes in such ownership with the SEC. Officers, directors and greater than ten percent shareholders also are required by rules promulgated by the SEC to furnish the Company with copies of all Section 16(a) forms they file.
Based solely upon a review of the copies of such forms furnished to the Company or written representations that no Forms 5 were required, the Company believes that all Section 16(a) filing requirements were not met during fiscal year 2008. There were two Form 4 filings due on April 1, 2008, required by Mary Budrunas and Ron Smith for conversions of Series D Preferred Stock into common stock on March 28, 2008, representing 16,627,005 and 6,652,871 shares of common stock, respectively. These Form 4 filings have not been completed. Additionally, there were two Form 3 filings that were filed late during the year ended December 31, 2008. The first was required by Bradley M. Parro, to report the issuance of 350,000 stock options granted on May 1, 2008. The second was required by Jacob Marcell, to report the issuance of 7,032,781 shares of common stock granted on January 22, 2008. A total of three Form 4 filings were filed late for the reporting of issuance of 1,000,000 stock options and 350,000 shares of restricted common stock to each of Ron Smith, Robert Chamberlain and Eugene Butler. These Form 4 filings were due on February 19, 2008 and filed on February 28, 2008.
maybe somebody needs to tell them they are still required to release the 10-K during the Quiet Period.
Silly guy...the company isn't allowed to have lunch breaks during the Quiet period!
But Steve Haag says everything is peachy keen...to ask any questions is just unpatriotic...There is a perfectly good reason why this PPS is down 98%. That new Houston HQ serves magnificent Kool Aid
so much for the quiet period...or is that just an excuse to keep the bagholders in chains while the privileged get back massages.
JDS,
Not attacking Steve personally at all. Just pointing out that he / the company hasn't answered the questions concerning the SEC concerns on the Private Placement (see my earlier post detailing the questions I asked, to which he didn't respond).
I realize that the company doesn't have to respond to anything I ask them (that would be awful presumptuous), but when he says that he is "perplexed" that we would even ask any hard questions, then that is a flag.
As to him only knowing what "upper management" tells him, that is ludicrous. As a Vice President, he IS upper management. All I want him to do is quit hiding under the bed and blaming it on the "Quiet period."
Many on this board have proclaimed Steve as the most transparent and refreshing IR guy in the universe. I'm simply pointing out that he is neither, and that his history with other companies also reveals similar fluff "news" releases with limited material facts.
Sand
Concerning Steve:
Here is the chart from Steve's previous IR job at VirTra systems. Notice a pattern? (40 cents to sub penny in no time, with big gulps of dilution all the way down) If you go on the Virtra Systems website and look at the old press releases, you see the same happy talk, all while the PPS plunged (it's never recovered).
While he may be a great guy and sends everyone hats and t-shirts, take his "happy talk" with a grain of salt. To those of you with "special access" to Steve, ask him to release the facts concerning the Private placement.
Sand
http://www.marketwatch.com/tools/quotes/intchart.asp?symb=VTSI&time=12&freq=1&comp=&compidx=aaaaa~0&compind=&uf=0&ma=&maval=&lf=1&lf2=&lf3=&type=2&size=1&txtstyle=&style=&submitted=true&intflavor=basic&origurl=%2Ftools%2Fquotes%2Fintchart.asp
They filed the S-1 in June I think, could have been July. SEC is supposed to make initial comment within 60 days.
I asked "IR" if/when SEC commented, and what kind of issues needed to be cleaned up, and what the estimated completion date of these actions was.
I asked "IR" if Deep Down had an attorney representing them with the SEC or if they had hired a Private Placement consultant to move the paperwork through quicker (these consultants are the norm, they have all the contacts, can see problems before they develop, are up to speed on the latest things the SEC is focused on, etc...many used to work for the SEC).
For all the questions above, I got the same old cut and pasted cheerleading pablum that has been posted here.
Obviously something is amiss..... as an "owner", I have a right to be kept informed. If some of you are comfortable waving the pom poms, then that is your right too...but don't attack me because I have legitimate questions and hold management accountable for the answers.
Sand
I've requested information several times from Steve in the last 18 months. He's answered me three times I think, and the information he provided was not investment quality. Murky generalizations spiked with hopes and dreams.
He's a very effective cheerleader though.
Why should the company make excuses when there are so many shareholders willing to make the excuses for them? Steve has a dream job...all he has to do is be affable and send people hats and t-shirts, and he doesn't have to answer any tough questions from the "bashers"...
My theory is that this is a shareholders version of the Stockholm syndrome. This POS could go to sub-penny, and some on here would still think that management is still sly and astute. Fascinating.
awesome link Sidedraft
thanks JoeSmith
We'll just have to wait and see. The 10-Q should be interesting.
Your right mauiguy2,
All we have left is our sense of humor, so why not let it flow? The PPS is now so low, that selling is not even an option anymore, unless I wanted to use the proceeds and maybe pick up a few shares of CitiBank or something.
What's even more perplexing to me is some of the posters on this board who are willing to make excuses for management, even though management won't come out from hiding under their beds long enough to defend themselves.
From now on, instead of using the word "shareholders", we should use the word, "owners." That puts things more in perspective. As owners, do we not have the right to know what is going on with the company?
Sand
The invincible and brilliant Mr. Steve Haag has used the word "perplexed" in some of his communications pasted on this board, so I suspect that he is at it again.
I myself am perplexed at how management is perplexed at the very thought of investor's equity in this perplexing stock that is melting away faster than a stick of butter on a flat rock in the Sahara desert.
Perhaps I would be less perplexed if the indomitable Mr. Haag would lead a charge of his fellow management team off of their cushy new leather couches in their new Houston headquarters and storm their broker's offices to begin a steady stream of insider buying.
I don't have a premium subscription anymore, but somewhere on this board is the unflappable Mr. Haag's response to a question on whether or not there is a penalty associated with the alleged SEC delay on the private placement. Mr. Haag's response was probably the most perplexing murder of the King's English that I've seen in a long time. Although I have an advanced degree and consider myself quite literate, I had no idea what this astute gentleman was saying.
Can someone find it and repost? Now that is truly perplexing!
I've said for a long time that management has been hiding under the bed.
Mr Haag, if you are reading this, time to come clean. Your apologists on this board are not as fervent as before.
Substance? Look it up.
That was a very well put together summary.
Time for a "Happy Talk" cut and pasted email from the great Steve Haag...he is still "puzzled" why anybody could possibly be upset with management.
I can't believe management won't even buy shares at these levels!
I wonder if they have "don't worry, be happy" on their intercom at the new headquarters.
jds,
Please breathe deep a few times try to relax a little bit. Everyone appreciates all of your efforts.
I'm not calling you or anyone else a liar...but there have been Steve Haag emails posted all throughout this thread, with nothing but happy talk and ambiguous statements.
Those do not qualify as Company communications to shareholders.
My point is, was, and will be, that the only people who know what the real status with the SEC is the Company, and the SEC.
None of us do...which is why I've been appealing to management to come clean for months now. Which they haven't.
Sand
jds,
how do you know that the ball is really in the SEC's court? For all we know, the company may not have filed correctly, or has omitted information, or owes the SEC more data.
That's the whole point of this discussion...nobody knows...the company won't say anything...so all this conjecture on IHUB is just a big gossip session.
Management can clear this right up if they wanted to.
PS: I know what you are going to say, but cut and pasted emails allegedly from Steve Haag on a Stock website does not constitute official management communications to their shareholders.
Basically, management committed hari-kiri with some very short sighted language in the S-1, and now can't even acknowledge that they know what it means or what the effect will be.
The financial penalties will suck any kind of net earnings dry for two or three quarters, maybe more...add in the big swoon in oil prices and the world economic slowdown, and you have a minuscule PPS.
But if you want happy talk and amazement that anyone could possibly be concerned, just email Steve Haag
never said that things happened that way. Just wanted to demonstrate the enormity of a number like a "billion"...for a 33 million dollar company.
When numbers like that get thrown around, it's never bad style to put things in perspective
"The potential of flotation technologies alone has the ability to make DPDW a billion dollar corporation."
Well, starting with the current $33 million dollar annual revenues, if we grow at an annual rate of 20% for the next 19 years, we'd get to $1.1 Billion.
I like your enthusiasm but let's get real.
hank, your logic is of no use here. Some of us started questioning management months ago with their lack of transparency, communication, and questionable deals.
It was like questioning the Pope...the prevailing answers were, "just email Steve Haag"..."just ask Steve"...and Steve is only too happy to oblige with a nice big happy face email.
Seriously though, you raise excellent points.
And by the way, when management decided that they want to run a public company, they take on that "burden" of communications with the shareholders. So hiding behind that "we are too busy managing" crap is nothing but a copout.
Let's hope for all of our sakes that the adults take over and be honest with the shareholders concerning the state of the company.
Thanks, that's very helpful research.
It's been my experience that one of the biggest pinkie scams is always the "audit in process" or about to be released, or we can't release the name of our firm, or whatever.
In this case, this is definitely a differentiator
Sand
That's interesting... is this a US auditing firm?
Sand
You're right Valley...
I should have clarified "these experts" as "the same crowd of experts." LOL
They are all cut from the same cloth and follow the same herd mentality and idiotic conventional wisdoms...I despise them all...most of them couldn't find the oil dipstick in their Lexus's.
Sand
These are the same experts who were predicting $200 per barrel during the run up...the individuals who made money didn't follow the experts.
I don't think they have grasped the downturn in Supply, and the efforts to strengthen the Cartels due to the low prices.
Sand
Great move up today ! EOM
spec...$13,000 per day wipes out the entire quarterly net income in just 121 days...
hardly insignificant...
"It is a clearly written contract that has been filed with the SEC and excerpts posted here."
Clearly written? Well how come there are a hundred different opinions on what it means? Or even if it's in effect?
Those are the kind of things that OUR management can clear up with just a tiny bit of effort.
JDS...you are right...there is nothing we can do about it...
But I can tell you what I won't do about it. I won't get the pom-poms out and make excuses for management and speculate on the exact status and terms of the PP...I want management to get out there and make their own excuses...or enlightenment..whatever..
Love the business and model...disappointed in MY management (I'm a shareholder)
Unless someone is on the payroll in the PR department, don't keep making excuses for them...
sidedraft...that's the long pole in the tent, and management's continued silence on this issue diminishes them, IMO...
Steve Haag can send private emails all day to people on this board...but that is "pinkie" behavior...they need to come clean now, officially...in a PR.....(I've been saying this for two months)...
Sand
brwtrpilot says: "Could it just be that the guys that run this company really don't give a rip about the investment side of this."
Ahem, umh...err...ahhh...small point here, but when you choose to be a public company, and when you choose to sell shares of your company to the general public, you have a legal obligation to give a "rip" about the investment side....sorry...small point...
Recommend you google the terms, "fiduciary responsibility"