Blue Diamond Ventures Inc (BLDV)

[TASHI]

Mike, I've been looking at the Schedule 13D today.

MAC Biofventures Inc. is a Belize Corporation with the sole stockholder & sole director as Aruna Raj Ajjarapu (wife of NexGen CEO).

RACA is a Florida Investors limited Partnership with a general partner of International Capital Partners, LLC. Aruna is listed as sole member of ICP, LLC. The limited information that I have on ICP, LLC is that it may be a limited liability company organized under the laws of Delaware. Please note: Delaware's corporation law is written to protect the rights of shareholders of the public corporations.

J. Ram Ajjarapu is CEO of NexGen Biofuels Ltd. base in Florida. He disclaims beneficial ownership of the shares owned by his spouse, Aruna, who is manager of the two holding companies, MAC & RACA.

The purpose of the transaction effective 03/24/2008 is for MAC to distribute 33,151,242 shares to Aruna as a dividend and Aruna contributed the shares to RACA in exchange for a 99% limited partnership interest in RACA (with general partner, ICP, LLC).

Here's my take on this transaction; most or some of it may be true. I believe the schedule 13D was performed to transfer the common shares from MAC, a Belize Corporation, which may not be protected by U.S. Law in any future business transactions. By transferring the shares to RACA, a Florida Company with a general partner, ICP, LLC (which may be organized under Delaware law) it appears that said shares will be protected.

Is this the prelude to the reverse merger? Possibly.

Link for information on mergers:
http://www.ukincorp.co.uk/s-9E-public-companies-formation-america.html

(jmo)