Blue Diamond Ventures Inc (BLDV)

[Kool Aid Man]

Again..this is a pending "reverse merger" IMO. I've seen a lot of these before and this one shows all the earmarks of one. Here's why--

Q: With with all it has going on, why would H360 agree to be owned by a mis-managed, floundering, sub penny stock with a STOP warning like BLDV? The answer is simple--

H360 is apparently wanting to go public. But unless they are sitting on millions of dollars to do so from scratch, the cheapest way to do that is to sign a "LOI" allowing themselves to be "acquired" by an existing public company (often a struggling or dormant one). These agreements are ALWAYS contingent on this key point--

Once the agreement is finalized, THE COMPANY BEING "ACQUIRED" (H360) WILL OWN AND RUN THE COMPANY (BLDV) FROM THEN ON.

Repeat: If and when the deal is finalized H360 will be running BLDV. Not Cann10-Israel or Cann10-NA.

There's only unusual aspect to this that I can see. That is the announcement that Josh Alper will continue to serve as an officer in the company. Typically old management resigns and leaves with a nice equity stake. Also, I'm confident the deal is contingent on him surrendering his single Preferred "69% Super Vote" share.

ALL OF THE ABOVE "IS A GOOD THING" IMO. Again, having H360 running the show --and not Josh Alper all by himself-- is why Cann10 is considering allowing BLDV an additional 24% ownership stake in Cann10-NA (not a merger/ reverse merger with them... that's apparently off the table now). IMO Cann10-Israel is hopeful that this new H360 team will be better for the stock than poor old well meaning "critical thinking" Josh Alper.

CAVEAT:

Despite the changes made on the H360 and BLDV website, this is NOT a "done deal" yet. Read Monday's PR carefully. The parties signed a "letter of intent and agreed to the timetable of the FINAL AGREEMENT."
https://globenewswire.com/news-release/2019/01/29/1706857/0/en/Blue-Diamond-Ventures-Inc-acquires-Harvest-360-Technologies.html

Again, this deal is not "done" until the agreement is "FINALIZED" (hence the term "final agreement" in the PR). That's true despite any proclamations made by the parties on their websites or announcing they've "begun combined operations on multiple projects." Signing a LOI is typically just the first official step in a longer process. Alper will have to open the books on BLDV and H360 has to conduct extensive due diligence going back to the beginning when this shell was originally incorporated in Florida in January 1991 as Teleauctions of America. The Company was inactive until June 22, 1998, when it changed its name to Puma Energy (after a reverse merger) and then as Blue Diamond in October 2004.
https://www.sec.gov/Archives/edgar/data/353254/000101054902000039/0001010549-02-000039.txt

Once the R/M is finalized H360 will be responsible for every obligation incurred during those 28 years which is why DD is so important.

AGAIN-- unless there's a hidden deal breaker lurking in the 28 year history of this shell then the R/M will likely proceed. Once finalized I fully expect new management to change the name of the company to HARVEST360 and apply for a symbol change. That's not uncommon and not a bad thing. Blue Diamond Ventures doesn't exactly have a stellar reputation. Better the new entity distance itself from all those failures.