Blue Diamond Ventures Inc (BLDV)

[janice shell]

Another huge problem here is the simple fact that this is an alternative reporting company. This company hasn't reported to the SEC since 2002.

That is indeed a problem. Not so much because it didn't report to the SEC--Pinks don't have to--but because between 2002 and May 2015 it made no disclosure of any kind. In its recent filings, BLDV describes itself as a "NON-shell". That is not the point. The point, and the proper question, is "has it ever been a shell company?", in the sense of the SEC's definition of the the term. I believe more than ten years as a completely "dark" public entity would qualify it as a shell company.

And there's the rub: the only way it can fix that is to file a Form 10 or an S-1 with the SEC, and become a fully reporting company.

Another problem: in its recent sketchy OTCMarkets disclosure, BLDV has made an effort to conceal the company's corporate history. It was for many, many years a Nevada company. No mention of that in these filings. What we're told instead is simply that it's incorporated in Colorado. The reality is that the old corporation was dissolved in Nevada on 6 June 2016:

http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=Vbt9qIU75NBgzn6PSedWIg%253d%253d&CorpName=BLUE+DIAMOND+VENTURES%2c+INC.

It had been incorporated in Colorado as a "new" company on 12 April 2016:

https://www.sos.state.co.us/biz/BusinessEntityDetail.do?quitButtonDestination=BusinessEntityResults&nameTyp=ENT&entityId2=20161257384&srchTyp=ENTITY&fileId=20161257384&masterFileId=20161257384

(If that link doesn't work, do a search.)

All of the above needs to be fully explained, preferably in a Form 10 or a Form S-1. From that point, the company can say it's no longer a shell, and one year later, Rule 144 will be available to holders of BLDV restricted stock.