Global Diamond Exchange, Inc. (GBDX)

[Tacoz]

ITs amazing how little the company followed through on any of its promises- look at all the old song and dance that never came through----

http://www.diamonds.net/news/NewsItem.aspx?ArticleID=17052


Since Global Diamond Exchange set up offices in New York in November 2006, all attempts by Rapaport News, including a personal visit to the company building address, to discuss the business strategy and company tenders went unanswered. However the firm's public relations representative Alex Livak told Rapaport in January that the company's first financial statement would be forthcoming.

According to the firm, "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."

Shares in the company have experienced a tumultuous ride debuting at 7-cents per share in September 2006 and falling to less than 1-cent in December before bottoming out at 0.0015-cents in February 2007. On March 6, shares closed at 0.0095-cents on trading of almost 30 million shares. In December Global Diamond Exchange restructured corporate stock from 7 billion shares to 975 million shares and retired another 13 million shares January 30.

Global Diamond Exchange reported, "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."