Blue Diamond Ventures Inc (BLDV)

[Mike Fletcher]

For those asking how can BLDV pay for acquisition of biodiesel plants, here's your answer:

HOUSTON, TX -- (MARKET WIRE) -- May 8, 2006 -- Blue Diamond Ventures, Inc. (OTC: BLDV), an agriculture, biofuels and commercial development company, announced today audited fiscal 2005 financial statements. The company posted record revenues of $5.89 Million and net income of $1.03 Million for fiscal 2005 as compared to revenues of $5.14 Million and $923,000 net income for fiscal 2004.

"We had a record 2005 and are anticipating our fiscal year end in June, as we are pleased with our significant growth in 2006," said Blue Diamond Chairman and CEO John Quincey Moaning. "With the pressing need for increased use of ethanol and biofuels, Blue Diamond anticipates exceeding our revenue goals moving forward."

http://www.marketwire.com/press-release/Blue-Diamond-Ventures-Inc-691218.html

Net income of approximately $1 million for year would mean that BLDV would have approximately $2 million in cash at fiscal year end 2005.

I doubt if BLDV stopped sales at fiscal year end 2005 and, since BLDV had already proven to be successful, BLDV likely had profit beyond fiscal year 2005. I think it's fair to state that BLDV likely could have realized $1 million of net income for 2006 and 2007 as well; so, at fiscal year end 2007 BLDV may have had $4 million in cash (almost $0.02 per share cash on hand).

Please note that $1 million is net income (after expenses) and not gross revenue. That is why BLDV does not have to dilute. BLDV has already proven to be profitbale and can cover their expenses with cash and does not need to dilute the stock.

I have seen no evidence to contradict the above link.