http://www.investorshub.com/boards/read_msg.asp?message_id=9575172 I've never seen any records about Downs being a convicted stock fraud felon. Have I missed something? If he was ever convicted of stock fraud, I don't think the SEC would permit him to be in the position he is now in. A CEO of a publicly traded company!
When IDWD first started mentioning a sale of a portion of their HLS Division, Downs said that they had several bidders. They went over the offers and accepted the highest bidder, a $40+ million dollar offer. I don't know about the other offers, but I would think that an offer of restricted stock in an unknown OTCBB company might be a little suspect. IDWD says that after all this is over, they will still control the majority of stock in their HLS division. I guess they will also have control of the buying company. Sounds like this might be a sweetheart deal to me. Does Downs now control the company that's supposed to be buying the HLS Division? If so, the dividend will just be a paper deal. From one pocket of Downs to the other. It should be sold to an unrelated company, paying mostly cash, if the HLS Division has such a value! If this is just a paper deal, then the overall value of IDWD won't change. IDWD's overall worth stays the same. The long delay makes me think a little more about this deal. 995ad.com still isn't very good. Downs could sell it to another company he controls. On and on. JMHO