Drone Services USA Inc. (DSUS)

[Cassandra]

What happens if the do not deliver the rest of the certs at all? Court action?

Peter Villiotis announced the IMAG Group (fka Red Tide) dividend multiple times and eventually scheduled it through FINRA despite knowing that it would not be distributed as the SEC had not approved IMAG Group's S-1 registration statement.

Peter is using claims about the $4 million Series C "gift distribution in the same way Peter mislead investors about the IMAG Group dividend. Just like all of the fantastical claims he previously announced in press releases and "updates," his goal is to stimulate buying so the company can sell more shares.

Keep in mind that the PR announcing the Series C shares claimed that the record date would be 3/14/14. Peter later rescheduled the record date through FINRA as 4/15/14 without explanation. That rescheduling is evidence of a lack of good faith regarding the $4 million "gift."

People who bought PVEC stock in order to qualify on the original record date for the "gift distribution" and were no longer holding shares on the rescheduled record date will receive nothing. Those people have an even greater complaint against the company.

People who bought the stock based on the rescheduled record date at least had warning the that original record date was abandoned and that the company might not be offering this gift with good faith.

Pretty much worthless, anyway......

Even those who receive a Series C stock certificate will find them to be worthless regarding future redemption in cash or conversion into common shares. Peter may have the attitude that since they were a "gift," it doesn't mean they have to be redeemable as he announced in a "forward-looking" statement.

Obviously,PVEC does not have $4 million to give away. Peter just announced that he is seeking to raise $850,000 to $1,000,000 as "initial funding" so he can get started on the business plan of buying 3900 acres in the Bahamas and developing it into a cruise and ferry port as well as to buy cruise ships and ferries.

Why would a debt-ridden, insolvent, "development stage" company that hasn't yet started operations offer to "gift" $4 million it doesn't have just to show gratitude to shareholders?

Note that the Series C shares are not issued by PVEC's transfer agent but directly by the company, which is questionable. Additionally, Milan Saha's signature is falsely included as a "duly authorized" officer of the corporation and the gold foil seal does not seem to have the elements required in a corporate seal. http://investorshub.advfn.com/boards/read_msg.aspx?message_id=103347257

It's possible that the certificates would not be deemed valid if an owner tried to pursue legal action to force the company to redeem them.

Regardless of whether shareholders receive paper Series C shares, there is no doubt in my mind given the history of the the CEO and the company as well as its financial records, that the Series C certificates will be worthless.