Thursday, January 25, 2007 8:35:58 AM
Your # given of $2.4M revenue is for just last 60 days, annual revenue est. is +-$20M.
My interest in this play to begin with was that former mgmt. of WWCD built that co. within a year and sold for $2M cash profit net; and large increase in pps. Then, they focused on diamond mkt., and a co. w/established rep in NY diamond mkt., and strong existing contracts w/top russiancutters/exporters. That was GBDX. Why? Because a new law in russia that increased big the % of rough cut diamonds that were allowed to be exported, and the start of an upswing in demand worldwide of quality stones. Smart business timing.
Once former mgmt. of WWCD merged w/GBDX, over the last 60 days+ have shown nothing but strength. 2 shipments sold out worth $3M+. Even with only O/S count @ 480M, saw need to reduce O/S count by buying up and cancelling 100M shares.
With much more to come near term. This shows me mgmt. sees $ in the co. w/sellout of first 2 shipments. IMHO, the JV pending w/top russian cutters/exporters, bank and Krystal (the cartel in russia for top quality stones), is huge.
Why pps dogging? As I stated prior, the pink/OTC mkt is bs momo, hype, and illconceived perspective of what's real. But, when you have a stock like GBDX w/"teeth", hang in there. There is a reason why over last wk to 10 days, been accum. of bigger block trades @ 500K-800K-1M share trades @ .0065-.007+-
PPS has not dropped below this level but has "based out" at this level. MM's accum. Frustrated weak hands bail w/no quick upside, allowing accum. to continue.
I do not waste time complaining, I just feel should post facts amongst bs.
Best Regards
Not a buy or sell recommendation. My opinion only.
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