Black Dragon Resource Companies Inc (BDGR)

[Trooper]

There seems to be a lot of confusion on this board about what constitutes due diligence.

One thing it certainly isn't is chatting with a person representing the entity that is being investigated.

It's all about INDEPENDENT verification.

When buying an oil and gas property, if you told your client that you did due diligence by talking to the firm you were buying from they would rightly be outraged. Due diligence in the case of acquisitions means going out to the lease, counting pump jacks, measuring oil in the tanks, looking for environmental problems, getting statements from the crude purchaser, going to the courthouse to verify that the property is owned by the guy who is selling it, etc.

I haven't seen anything on this board that would constitute due diligence...only that independent verification of BDGR has been impossible (their property is not registered at the courthouse, they are not registered operators, no one has been able to verify what they actually own).

If that's not fire, it's a whole lot of smoke.