Replies to post #59562 on Blue Diamond Ventures Inc (BLDV)

[Kool Aid Man]

In reading the annual report it appears BLDV incurred a charge of "$45,600 in General and Administrative Expenses" (page 6)
http://www.otcmarkets.com/financialReportViewer?symbol=BLDV&id=168780

I also see the typical condo owner in that building pays $587/ mo ($7,044/ yr) in HOA fees.

SO if someone other than the Blue Diamond Corporation owns and occupies that condo exclusively... then it would appear the true owner is having his mortgage, utilities and other fees being picked up by investors of a public company. That money would, therefore, be deemed a gift to the owner and taxable to him by the IRS.