Deep Blue Marine (DPBE)

[jrf30]

No, the rules are much more lax on a pink sheet than a regular reporting company. that helps them in a lot of areas. LIke not reporting quarterly reports, balance sheets, income statments and the likes. they don't have to divulge as much information as a pinkie.

But voting rules remain the same. If you are going to have a shareholder vote, you have to send out proxies to the investors. Even private companies have to do that. And voting the shares without consent? Wow. It doesn't matter WHAT type of company you are. You can't take authority away from the owners of the company (shareholders) and vote their shares your way just because you want to. in ANY company.

So yes they are much more lax, but that doesn't mean that votes can be done the way they were on the RS.

I'm not worried about the lack of information given out, because that is the way it is with pink sheets. But, things that worry me, becaue I feel they ARE in violation and WILL be held accountable even as a pink are (in no particular order)

1) An alleged phone call made to some investors AS coins were being brought up on the boat, and those investors bought shares before the news was announced and the stock spiked. I think this CAN be verified so it worries me.

2) Selling of restricted shares through the ruse of "lending them to someone" who then sold them. They would be bought back later by that person and returned to the original owner. But, that was constructive sellig of restricted shares wihtout proper registration.

3) selling of shares by the company and CEo literally 48 hours before a disastrous announcement was made that crushed the stock. Max, this one i know enough about to be firm on. He could not sell shares. Not even to fuel the boat. And to tell people ont ehblog to BUY? and then 48 hours later say the company could not fund anything, was broke (His word), was doing a reverse and selling one of its two diving spots off to some other firm? No, that one is black and white, and I've gone over that one on other posts. That is not allowed by SEC rules.

4) the whole shareholder meeting thing. From the lack of notice to the lack of a proxy. Again a black and white one, as the rules are spelled out very clearly how votes from shareholders need to be taken. I went over this one in the past too, so won't do it again, but Wilf did not send out proxies, get responses, or count the shares voted correctly. This is something I think they will nail him on.

5) Some of the sales of stock made in teh passt year may not have been registered correctly. Private placement are supposed to be restricted for a while. I'm not sure they were. Other sales still need a 504 registration before the company can sell them, even if they are in the authorized shares already. It's when tey go from authorized to outstanding that the 504 comes into play. This would take further investigation to see what was right and what was wrong, but if the SEC subpeonas the files they will figure it out. And I"m thinking Wilf was "grey" on this matter, so it worries me too.

6) Other restricted shares (In this case - Ed's) were bought back by the company, but then immediately sold into the float, even though they shoud have still been restricted. YOu can't take restrcited shares, which are not supposd to be allowed to be sold, and pay the person that had them (ed) and then resell them 2 days later. ou are circumventing the rules and that one will also get teh SEC grumpy. Yet it happened, and no one seems to apologize for it.

YOU know hwat Maz. that's enough. Those are some areas where I think the SEC COULD investigate DPBE, and areas I think they could find them guilty of violating the rules. there are more, but that's enough for a start.

So, if they want to know what areas they could be investigated in, let them start with those.

I am not talking baout the treasure, and whether it is there or not. I am not talking about the fact that they are finally i the DR. those are POSITIVES, and i'm GLAD they are there. But, as I've written Wilf before, I want him to do the right things LEGALLY, and with the (stupid at times) SEC rules. He may not agree, but he has to follow them anyway. He can't circumvent them on sellig stock, or sell with insider knowledge of an announcment to come out in 48 hours. It makes SENSE to sell to get fduel. But that doesn't make it LEGAL. So, I worry. And ALL I am talking aobut is hte LEGAL issues I see. Because if they bring up wonderful treasure, but the SEC shuts the entire company down, then we STILL lose - even WITH treasure.

See my concern?

And I opst it for two reasons. 1) because I want Wilf to know that people (me for one) ARE watching, adn KNOW when he does these stupid things. So that he STOPS. I want this compnay to SUCCEED. If Wilf will start paying attention to the rules more, and doing things wihtout grey areas, I'd be a big BUYER, especially at these low prices. But, he lies, he hedges, and he cuts corners. That worries me, and other s too. and 2) Becaue he lies and has done things like dilute the company form 100MM shres to 500MM shares (Pre split) I want others to know that odds are long that the company will be a good investment. So yes, for NOW, with him doing these things, I tell people to stay away. Not that they listen to ME, but I thik that when someone does their DD they should see that the CCEo has lied, and done thigns that could be seen as agianst rules of teh SEC. Because their money is at risk if the SEC does come and shut the company down.

I have NO idea if they are investigating DPBE or not. I hae read the same posts you have, but don't know what is true and what is hype (Positive or negative) But my posts? Most o fthem are warings. NOt negative thoughts, but warnings to Wilf to DO IT RIGHT. So we CAN SUCCEED. Im not anti DPBE. I'm anti rule breaking lying and illegally sellig shares that could get us in trouble if (And it is if to me) the SEC comes knocking.

Hope that helps. This is pretty plain forward, and also has my reasoning and opinions in it. I"m not afraid to say it as I feel it is, and as I think. So, I'm still positive DPBE, but negative the actions of the CEo that I feel are breaking the rules. Or just "are breaking hte rules" wihtout my "feelings" in it at ALL.



JRF