Deep Blue Marine (DPBE)

[jrf30]

<<Can someone tell me if the method in which Wilf executed the Proxi statement was legal?
>>

I have stated that the way the sharesholder meetigs have been annonced and taken place were not legal. I have stated that the way the proxy was done was not legal. Then, I add "in my opinion" because that is the CMA (As opposed to CYA) of saying I don't want Wilf to say I was libeling him or be the source that as the one definitively saying wilf broke the rules (When it hits the courts. And IMO it will!).

But, since I added IMO on the posts, people said what I printed was not fact and not true, and I was a basher.

Rules are rules. And breaking SEC rules in how you operate your company is not "doing what it takes to get the job done." It is BREAKIG THE RULES. ... IMO. Anyone that says "I would do it the same way. It makes sense" would ALSO end up on the wrong side of the SEC. I'm not saying hte SEC makes SENSE. Just that they make the RULES. And they don't like it when people use logic or expediency to justify breaking those rules.

Selling stock, and admitting on the blog you are selling stock, when you are the CEO, and then 3 days later coming out with an annoncement that you are reversing the stock and selling 50% of the company potential to someone else because you are BROKE, is ALSO ILLEGAL ... IMO. It is caleld INSIDER TRADING. Saying "But I sold those shares to an investor, not on the open market" is NOT a defense. ... IMO. Because it doesn't matter to whom you sold shares. It matters that 3 days before an announcement of a material fact that makes the stock drop 50% you as the CEO are NOT ALLOWED to sell shares! NOT ALLOWED! ... IMO of how I reda the rules. But don't discount that, as that rule is NOT hard to interpret. An insider ca NOT Do it. Pretty simple to read!

I have not been one that has said "The boat shall never leave the dock" and things like that. My emphasis has been where i am knowledgable. NOt in treasure hunting but in SEC regs. I have been and am subject to them myself. So when I see a CEO do things that (ahem... IMO. CMA!) are illegal and against SEC rules, I think that SUCKS. Furthermore, I think it is WRONG. Wrong for the shareholders. The REASON the rules say you can't sell right before you announce your bad news is to protect teh shareholders. INcluding the sap that BOUGHT those shares and saw them drop 50% in the week following the purchase. So the SEC says it is illegal to do insider trading with insider news. Then, to ADMIT you sold the shares? And say you don't "think" it is illegal, and your reasoning is because "you needed the money for gas"? How does that make it any more LEGAL? Not ... in MY not legally binding opinion.

Yes, my emphasis has been on SEC regulations and rules. NOt on the treasure hunting itself. But, I'll be a basher again after people read this.

IN reality, I have ASKED WIlf to do it RIGHT. Not "just" bashed. i TOLD him his proxy was not announced legally ... IMO. I told him that to vote the shares that are not returned, when many people don't even know there IS a vote (Since not all investors read this little board!) is NOT LEGAL .. IMO. I told him BEFOREe the case HOW to do it LEGALLY ... IMO. I'm not against the company. I'm against him continuing to do it HIS way, instead of the SEC way. IMO.

SO, since this is just my OPINION, it means NOTHING to some. But others, those that can read for themselves, will see that my opinion has some VALUE to it. And if you don't think so - ASK someone that you think would know. Like your broker. Or anyone you know who knows security laws. Just another OPINION. Or call the SEC. I think CAPT already did. I didn't. I tried to get wilf to change his plans and do it RIGHT. For the future. Not for the here and now, and the rationalized ways he seems to think he can ignore what others think (IMO) are the RULES.