The Golden Lounge

[Potse]

DPRI...new name and business direction.....

Picked up some more shares of DPRI at .05 the last couple of days. As disclosed in filings this week, DPRI will be changing names (ProGreen Properties) and the venture capital group that controls the shell will apparently be implementing a new business direction that involves the acquisition of real estate.

Current share count should be roughly 19.4 million (includes the completed first tranche of investment by EIG Venture Capital at slightly more than one cent per share).

The upcoming annual report should provide a bit more information/clarification on the subsidiary that DPRI merged with, but I find the following statement in yesterday's NT 10-K to be somewhat interesting.......

The Company was a shell corporation from April 30, 2009 until July 28, 2009 when it closed on its first acquisition of real estate. As a result of this change, the auditors need additional time to complete their required subsequent event procedures.

http://knobias.10kwizard.com/filing.php?param=&ipage=6438825&DSEQ=1&SEQ=&SQDESC=SECTION_BODY&exp=