Horst, Here is what was posted by Sterling from his conversation with John Moaning previously:
Now I will try to make some sense of it from a conversation I had over 6 or 7 years ago. Years ago, and a few managements ago, I spoke to the old CEO of BLDV, John Quincey Moaning. I was curious to know where all the volume was coming from a few years back then after thinking that this was a low float stock. He would never tell me. Then finally after another couple of years had gone by or so, we had a much deeper conversation. He told me that he had been done wrong by a finance/funding company by the name of TJ Management in the past.
So then I asked him… What happened? I asked him this because I knew that the share structure was unknown at such time, but I remember seeing a few hundred million in volume at one time in the past so I knew that some kind of dumping had transpired to where the Outstanding Shares (OS) was a number far higher than what I had originally thought. This is when he told me that he was screwed by a group called TJ Management. He said that when he entered into an agreement with them, he issued them shares per the agreement and they were supposed to have financed his ventures that he had on the table to move forward with. He fed them shares… they simply dumped a bunch of shares… and he never got the money from them as promised.
Something later happened with TJ Management getting in trouble with the SEC with dealing with another company (not BLDV). This caused the SEC to investigate every company that TJ Management was involved with and froze TJ Management from ever being able to deposit any shares that they were holding of any company to include a bunch of BLDV shares they had in cert form trying to get deposited. I never learned the exact amount, but I knew that it was a lot. This is why when people called the BLDV ungagged Transfer Agent (TA) back then, they were told that BLDV had 3,750,585,689 shares of BLDV are still in cert form.
Again, I’m not sure how many of those shares that are still in certificate form are from TJ Management, but from my understanding, they have a good chunk of those shares that will never be able to get deposited per the SEC not allowing them to. Per the TA, those shares must be classified as Free Trading (Float) Shares. From my understanding, TJ Management was successful in dumping ”a few” BLDV shares that Quincey gave them before, but there is a huge chunk that will never get deposited to be dumped because of TJ Management getting in trouble with the SEC. The SEC made the decision to not hold anything against BLDV or any of those other companies that dealt with TJ Management, but they also made the decision that any shares that were held by TJ Management were not ever going to be deposited.
I don’t exactly recall who, but either Quincey and I think Josh Alper from the current BLDV team had spoken to some people at the SEC in trying to see what legal action could be taken to get those shares back to cancel or retire back to the Treasury, but the SEC said that there is nothing from the SEC that will be done to assist in trying to get the shares back. So, those shares can’t and will not be allowed to be deposited which is a good thing, but they also will not be allowed to be canceled or retired unless TJ Management gives them back the shares themselves to retire or cancel. I do know that the company went to TJ Management trying get those shares back to cancel or retire them, but TJ Management was upset over their situation and refused to cooperate from what I was told back then. Their attitude was that if they cannot do anything with them, then nobody will do anything with them.
Because of the shares being unrestricted, they had to count towards the Free Trading (Float) numbers to actually exist on paper, but they don’t exist for being a part of the ”actual” Float numbers for the shares that are existing in ”actual circulation” within the market. This means that the public cannot buy them. They are just there… existing as part of the share count. This had taken place years ago sometime as I never asked for the exact dates of such. Quincey (BLDV CEO a few managements ago) said that he was tricked into having issued those shares to TJ Management thinking that he was going to get funding for his projects. He said that the market thought that he sold those shares and pocketed the money but did not. He made it clear that he never got any funding from them. Hopefully, this adds a little more clarity to the Float.
v/r
Sterling
The 3.7B shares mentioned above matches what the transfer agent posted in 2016 as being in Cert form. TJ Management isn't holding all of the 3.7B shares, but I suspect they are holding somewhere in the neighborhood of about 2B shares.
To get an exact status of the shares is something that the company should provide if they truly want to be transparent. This should not be a secret, and the company should inform its shareholder of any plans it has regarding these shares in the future.
