Digital Gas, Inc.(fka DIGGQ)

[Buckey]

NO court dates anymore - Wesbite is updated and I am in tears. IT wasnt CEO's fault he pilfered all the money after all - he says so.

http://www.digitalgas.com/
Corporate Overview



Prior to October 2006 Digital Gas was operating as an active business development company. Digital Gas had opportunities to acquire proprietary products and technologies in the energy, waste management and related fields. In addition, Digital Gas was involved in acquiring property and projects in the natural resource field.



Third party interference and other attacks against the company in 2005 and 2006 were designed to destabilize and destroy the company. These actions were intended to enable the perpetrators to divert corporate assets, opportunities and options for their personal gain. Subsequently, a civil suit was brought against Digital Gas by the Bureau of Securities of the State of New Jersey. In October, 2006, the company lost a significant amount of shareholder value and commercial opportunity that has lead to the need for the company to reorganize itself.



Starting in or about August 2005, these third parties and others acting in concert with them, filed complaints with the above regulator and prosecutors in New Jersey. Digital Gas was depicted as a worthless scam. Several months after the initial complaints were filed, one or more of the above third parties, acting through a newly formed company, obtained a significant loan at a federal bank in November 2005 using millions of restricted common shares in Digital Gas. The bank obtained a judgment against these persons and their company in November 2006.



Notwithstanding these still unresolved issues, Digital Gas continues to own significant commercial assets and opportunities in the aggregate business. It is the intent of Digital Gas to reorganize from this base of value and attempt to recover lost shareholder value.


NOTICE



On June 20, 2008, an involuntary Chapter 11 petition was filed against Digital Gas by a creditor under the United States Bankruptcy Code in the United States Bankruptcy Court for the Eastern District of Michigan, Case Number 08-54958. The company decided not to oppose this petition and thereby agreed to seek the protection of this Court. This step was taken because the Bankruptcy Code represents the only remaining legal process available to reasonably protect the assets and shareholder value of the company and enable it to operate to attempt to recover the shareholder value that has been lost.