The scoop on DVFI is it's being locked down by the major share holder who owns 400 million shares. When the deal went south with Lancaster, shares were used as collateral for the deal to go through. Those shares were supposed to be returned to DVFI, appoximetaly 300 million shares. Until they are returned to Treasury, the largest holder is just going to wait it out. It's been four years so far. DVFI has no ability to get these shares back so the largest holder screwed them along with the 300 million other shares bought by investors from 2005 to 2007. The float is supposed to be no more than 300 million shares for DVFI. Once the free shares are returned, the largest share holder will return his 400 million shares to treasury as well since, in total 700,000 shares were issued as colleteral to move the deal forward. 300 million went to the bad guys, 400 million went to the large share holder who at that time owned 150 million shares of common when DVFI was BIGN and had an OS under 300 million.
My question is what happened to Grimes and the two wells and the revenue associated with these wells?
What happened to the 28% ownership DVFI was supposed to have in TYEG?
What happened to WWNG energy and PACO?
My lawyer told me to hold my DVFI shares because some day, either the 700 million will be removed and the stock is put back in it's place - OR - the shell will be bought as is for 500,000 or .0005 then the new owners will reverse split and start to dilute.
Either way, it will trade again some day. The large shareholder is really holding all the cards now. Who is he? How do we contact him? He has lost much much more than any common holder here back in 2005. Maybe the guy should just bite the bullet and allow DVFI to start trading again with a 1 billion float. The A/S is 5 billion, raised by Rees. Rees lost control so he could not dilute it. Get the AS reduced back to 1 billion and let this sucker trade again. Jesus Christ, it's been 4 freaking years.
