Replies to post #128132 on Drone Services USA Inc. (DSUS)

[tynich01]

I would think a financer wouldn't mind covering the money and the certs could just be the collateral for providing the money. Be redeemed and just given to them. I wonder what the company did to become current now

[Cassandra]

Where is the company getting the 4 million dollars to pay for them when they are eligible to be redeemed in a few months?

I've been asking that same question since PVEV first announced the $4 million issuance of 20 million Series C preferred shares with a face value of $.20 on 2/28/14:

http://ih.advfn.com/p.php?pid=nmona&article=61272609

The original record date was announced as 3/14/14 with distribution of certificates announced to begin "the week of March 17th, 2014."

Peter Villiotis has been extremely dishonest about this $4 million "gift distribution" from the initial announcement including later changing the record date without explanation. He has never explained how this "gift" will be funded -- especially in light of the fact that he claims the company is going to try to raise $850,000 to $1,000,000 as "initial funding."

Even if shareholders receive something that looks like a legitimate certificate for the Series C shares, it is extremely unlikely that the Series C shares will be redeemable for cash as originally claimed in the 2/28/14 PR or even for the equivalent in common shares.

Keep in mind that the promises made by PVEC in the 2/28/14 press release have already been abandoned by the rescheduling of the record date.