Blue Diamond Ventures Inc (BLDV)

[Gemma]

Horst, There is a little bit more of a complication here with regard to the shares. Under the previous management a large number of shares (over 1 billon) was paid to a company for marketing and other services. It was later claimed that the services were not delivered and a legal fight broke out between the parties. However there were limited funds available and neither party went forward with the lawsuit prompting the DTC to freeze the shares until the suit is settled. The only way for BLDV to settle the suit would be to buy back the shares that it gave for the services. Unfortunately the amount of money the other company wants is way more than BLVD has or is willing to spend because it claims it fulfilled its obligation under the terms of the deal.

Since nether company has the funds to bring this to a close it has left the issue in a stalemate.