Wednesday, April 25, 2007 10:40:38 AM
Several quotes from today's press release follow...
"Global Diamond Exchanged is pleased to announce that while it is in continued negotiations and working out the mechanics for the potential buyout/MERGER......." .... notice they refuse to eliminate that word MERGER from their press releases.
"With regards to the buyout/MERGER -- things are proceeding as planned. Attorneys are currently working out the final details, which will include RECORD and PAY DATES. Furthermore, a MECHANISM is being setup for tendering shares if and when this transaction is completed."
"We stress patience since this will take time as the suitor IS WORKING OUT A WAY (?????) to take Global off the public markets and into the private sector."
Those familiar with record dates and pay dates will not be fooled by this attempt to make it appear a PAY date is the day you get PAID. A PAY date is the date you tender your shares for cash OR new shares in a new combined company. This is so misleading to put in a press release.
A MECHANISM is being setup to tender your shares?? What is this? GBDX has nothing to do with tendering shares. Its the brokerage firms responsibility to handle the back office tendering process along with the transfer agent. What does Gloabl need to do here other than add these words to confuse and keep up a smoke screen on greenhorns?
But here is the big one... "WORKING OUT A WAY" to take Global off the markets. Well, if this were a done deal tender for $, Global would be OFF the markets. Why does a suitor need to WORK OUT A WAY to get Global off the markets? Perhaps that is because in a reverse merger (preceeded by a reverse split) a Global entity would still be trading on the markets and the suitor would have to find a way to get that OFF the markets by taking it off the pinks after they own 95% of the company and have the control to remove it from public markets.
Most telling is the stock price. After this, the third attempt to pump this one with this merger news, the rewards are diminishing. Oh I do say this is the final pump and its already peaked. What a shame for GBDX insiders. Why are the market makers still willing to dump shares at .006 and lower?? Who is selling shares here?? Well, only thing left on this plan is endgame. What is the endgame? reverse merger/reverse split.
The writing is on the wall. Why do all of you refuse to read it?
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