Merry Xmas to Alexey Cherebkov...whereever you are!!! I hope your successor understands your letter to the sharholders dated 4 April 2007....Now how about a statement from Mr. Slava Beurikov !!!!
April 4, 2007 - 7:00 AM EDT
GBDX 0.0023 -0.0002
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Global Diamond Exchange: Message From The Chairman
NEW YORK, April 4 /PRNewswire-FirstCall/ -- Global Diamond Exchange Inc. (OTC: GBDX) would like to present to you a statement from Company CEO and Chairman Mr. Alexey Cherebkov:
Dear Shareholders:
I would like to give you a brief update as to what's happening with our company. First the business of the company is continuing in a normal fashion. We are growing at a manageable rate, with a steady increase in shipment value as witnessed by our latest press release. I would like to clarify a key point from several emails that I have recently received. We are a wholesale company. We only sell to other wholesalers, and we do not currently have a retail location. Our business is predicated on selling lots or a composite grouping of cut and polished stones. We sell these lots to established wholesale clients only, not to individuals or unknown unproven wholesalers. The business model is simple but the misconceptions are enormous. Shareholders want to look at the facility and see the stones as they arrive. This is impractical for security and insurance reasons.
The potential takeover/merger: The due diligence process is proceeding as planned. The corporate attorneys are en route to meet with the potential suitor and finalize the points of the transaction within a reasonable period of time. We are not assigning a 'drop dead' date to the potential transaction nor do we want it to linger in details. You the shareholders want and deserve a clear explanation of the potential transaction. The attorneys will provide that once the process is complete, including all material facts such as record dates and pay dates.
Our goal is to maximize shareholder value and satisfy the suitor's demands. At the end of the day the suitor wants to exit from the public market. Global will cease to exist as a publicly traded company if the transaction proceeds as planned. When the company entered the public arena we did not realize the burden of the public sector. The potential suitor does not want the additional work necessary to maintain a public company nor in our estimation do they need to be in the capital markets. Consequently, all shares held by the public will ultimately have to be surrendered if the transaction can be consummated. The legal team is working to satisfy the government requirements and inquisitions from filing the form TO.
Additionally, there have been inquiries about certain individual(s) and unsubstantiated rumors involving the company. The individual(s) in question are in no way affiliated with this organization and these rumors and innuendos only hurt you the shareholder and the company's credibility, as well as running up the corporate legal bill. I further urge you to ignore all the speculation about this takeover/merger. No one knows the final details and everything right now is considered hearsay. As soon as we are allowed, you will know exact details and what you the shareholder will gain from this transaction.
On behalf of Global Diamond Exchange, I would like to wish all of you a Happy Easter and Happy Passover.
Sincerely,
Alexey Cherebkov
Chairman and CEO
Global Diamond Exchange
About Global Diamond Exchange:
Global Diamond Exchange originally opened their office on 2 West 46th street in the heart of the 'New York's Diamond District'. After several years of operation at their New York office the company decided to shut down the operation due to low pricing and soft demand in North America. The company concentrated its efforts on exporting cut diamonds from the Russia Federation and European locations. The new company has reopened its sales offices in the original building ready to take on the increased demand for fine quality diamonds.
NOTE: Safe Harbor for Forward-Looking Statements.
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the 'Act'). In particular, when used in the preceding discussion, the words 'plan,' 'confident that,' 'believe,' 'scheduled,' 'expect,' or 'intend to,' and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of the Company to complete the planned bridge financing, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings.
SOURCE Global Diamond Exchange Inc.
Source: PR Newswire (April 4, 2007 - 7:00 AM EDT)
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