Global Diamond Exchange, Inc. (GBDX)

[Fossil Man]

I think it was around Feb 2007 The GBDX said they acquired a Synthetic Diamond Plant I wonder how production is comming along I have checked around and cant find anything about the plant. I know it stired plenty of interest on the board. Has anyone been updated TIA


That is because they did not acquire a plant. They were not even in the market to acquire one. The PR you are refering to stated they were "Considering the possibility of..." Then, 6 days later, they announce a buy-out/merger. This PR may have just been some bait.

Global Diamond Exchange Considers Acquistion of Synthetic Diamond Manufacturing and Processing Facility
Thursday March 1, 7:00 am ET

NEW YORK, March 1 /PRNewswire-FirstCall/ -- Global Diamond Exchange Inc. (OTC: GBDX - News) is pleased to announce that management has begun conducting due diligence, setting the stage for the possibility of acquiring a synthetic diamond manufacturing and processing facility in Moscow, Russia.

Global's management sees this as an opportunity to expand its operations by purchasing the land, equipment, and business of another company. This is the first stage of a proposed expansion, with the terms and conditions not yet finalized. This is something that will obviously have to occur in the event an acquisition is undertaken and if all parties agree to the terms it is viable that this transaction can be completed within 60 days.

The company will continue to keep everyone informed as developments occur.


Buy-out/Merger PR...

Global Diamond Exchange Inc. Management Considers Potential Takeover or Merger
Wednesday March 7, 7:00 am ET


NEW YORK , March 7 /PRNewswire-FirstCall/ -- Global Diamond Exchange Inc. (OTC: GBDX - News) is pleased to announce that management has been approached by another company that is viewing Global Diamond as a merger or buyout prospect.
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Management will analyze any offer made by this company to determine whether it is viable, and once an offer is made it will be analyzed along with any other competing offers that may materialize in order to maximize shareholder value. A third-party fairness opinion may then be sought. This is the first stage of negotiations, and a due diligence period must follow any agreement.

Alex Cherebkov, President of Global Diamond, stated: "The Company is excited that a potential suitor has surfaced. Our business model was structured to increase shareholder value through revenues and possible acquisitions. Though this is an unexpected avenue, we are however delighted at the prospect. We are evaluating all options."

In the event an agreement between the two companies is reached, an appropriate announcement will be made and the necessary forms will be filed with the Securities and Exchange Commission. At that time, we will state: 1) the final transaction structure, and 2) the disclosure needed to fulfill management responsibilities ensuring all shareholders' rights and other obligations are met.

There are no guarantees at this time that a transaction will occur, just that the company has been approached for a potential takeover or merger. Management will communicate and update the shareholders through press releases when appropriate. Currently, only preliminary negotiations are in progress