Proguard Acquisition Corp. (fka PGRD)

[IDS Watcher]

A lot of has been made of the “PR” that appeared yesterday. As I write this post, no independent verification exists of its contents. I find several things troubling though. UVH/Downs, Bol, Crossbow and other would have people believe that if it is true that WSA has bought PGRD, that this is some sort of end game. If true, what does it mean for IDWD? Nothing at best and more likely it is evidence of what has been said repeatedly. IDWD and its shareholders are being cut out of the deal.

If I understand UVH/Downs (a stretch for any of us) then WSA is buying PGRD. Then WSA will merge with/buyout HLS who will then start trading under the PGRD shell mostly likely keeping the name HLS Worldwide as the name of the entity. Then HLS continues selling flashdrives, makes hundreds of millions of dollars and the stock price goes through the roof. Right?

What am I missing? Oh yeah. The $2.35 buyout of IDWD shareholders. Tell me again why that would happen? The new company will have the offices, the warehouses, the marketing and distribution network, the technical people, the sales force, THE PRODUCT, and finally will be a free trading company.

What does IDWD have to do with it? Why would HLS buyout the shareholders? Because they said they would? Show me that PR, where HLS says they are buying out IDWD.

UVH/Downs himself says PGRD and WSA have nothing to do with IDWD. And why would they want to? The new company does not want to associate with a convicted felon, certainly not one that served a year in jail for stock fraud and is currently serving 20 years of probation for his crimes. If they can cut him out, why wouldn’t they? What legal obligation does WSA/PGRD/HLS have to pay IDWD the $2.35 per share? What value does IDWD have to the new company? They have no assets, no personnel, no product, no offices, no warehouses, no inventory. Nothing except a lot of baggage, an SEC inquiry, a felon CEO and lots of unanswered questions.

So color me unimpressed with the new developments, at least as they related to IDWD and the opportunity for its shareholders to receive what they have been promised.