Blue Diamond Ventures Inc. will start Audited Books on July 1st 2018
June 12, 2018 Blue Diamond Ventures Inc. (OTC PK: BLDV) Denver Colorado:
June 30th will be end-of-year, BLDV will return to July 1st Fiscal Year
Blue Diamond Ventures Inc. has announced an upcoming merger with Cann10 North America, and although the date is not set, on July 1st BLDVwill move one step closer to goal of SEC Reporting by bringing in a new financial team (attorney & accountant) that will be responsible for compiling the audited accounts that will lead to SEC Reporting, andthe potential to up-list to the CSE.
The focus of the company is increasingly on pharma-grade cannabis engagements, and non-contributing holdingsare being eliminatedin favor of expanded emphasis on consulting, project management andequity partnerships in cultivation and processing. The process is being driven bylicensed technologies coming from Israelin collaboration with USA & Canadian Tech firms.
Our previous attorney was unable to provide a letter to certify the 2017 Year-End numbers due to unforeseen circumstances, and the company was forced to accept a Yield Sign, indicating limited information. In addition, due to the change in fiscal year end, the Q1 (January 1st 2018 to March 31th 2018), is late, and will be filed together with Q2 (April 1st 2018 to June 30th 2018), on July 15th 2018. This will be a Year-End report and the new books will start on July 1st 2018.
All filings will be done by July 15th 2018 and the company will return to PINK-Current Information.
Statement from Josh Alper CEO: “We thank you for your patience, as we understand that the Limited Information status makes our offering appear to be troubled, I can assure you that BLDV continues to build our position in themedical / pharmaceutical cannabis industrywith strong partners and relationships thatwill add value to the stock. We are proceeding slowing to specifically protect the shareholders during this important transition.”
About BLDV: Blue Diamond Ventures, Inc. seeks to partner with individuals and companies that share a common synergy, mission and vision to enable pharmaceutical-grade cannabis products/services that are produced, delivered and consumed utilizing fewer natural resources, providing a sustainable alternative to traditional products on the market today. Blue Diamond Ventures, Inc. seeks opportunities in medical cannabis markets and is driven by critical thinking and the scientific method.
Safe Harbor: This press release contains forward-looking statements. Such forward-looking statements are subject to several risks, assumptions, and uncertainties that could cause the Company's actual results to differ materially from those projected in such statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly revise any forward-looking statements.
Contact: Blue Diamond Ventures Inc. 535 N. Michigan Avenue, Suite 3001, Chicago, Illinois, 60611 Joshua B. Alper Chief Executive Officer (844) 637-6377 info@bldvinc.com www.bldvinc.com
- I think this is one of the most important updates that I have seen from BLDV as it confirms that BLDV is:
1. Pursuing SEC reporting status that will start on July 1, 2018. This objective involves a significant amount of time and money that otc tickers do not do for nothing. I am thinking the Cann10 NA merger is the main impetus for this objective, notice how they are mentioned in the same paragraph. This is what I suspected previously, link back to my previous post.
2. Planning to file the missing financial reports by July 15, 2018 to return to pink current status. This was a relief to see.
3. Continuing through with the Cann10 NA merger. As PinkPaste pointed out the wording of "an upcoming merger" is now being used by BLDV. I think this is a strong hint combined with the SEC reporting objective!
4. Possibly pursuing a potential uplisting to the CSE. This is no easy task which would attract a whole different group of investors if achieved.
5. Continuing to focus on medical and pharma-grade cannabis. Although it would have been nice to see follow through and achievement of the previous initiatives they communicated to us which the spent time and money on, I guess at this point focusing on whatever is now more important and will add value is the wise option with Cann10 NA in the picture. Let's just get it done!
- What I found interesting was how BLDV mentioned equity partnerships in cultivation followed by the sentence that the process is being driven by licensed technologies coming from Israel in collaboration with USA & Canadian Tech firms. I think this is key and what will drive value into the stock in the future as long as they achieve what they are communicating.
I am very happy to see this update as long as BLDV can follow through and make it happen.
CEO Joshua Alper of Blue Diamond Ventures, Inc. (OTCPink: BLDV), rejoins Uptick Newswire to discuss delayed financial reports, various consulting projects related to medical marijuana, and upcoming merger with Cann10.
1. 0:59 > BLDV is in the process of bringing in a new financial team for the Cann10 merger which includes a new accountant and a new attorney. The yield sign and hold up of filings is due to the change in the accounting team which should be cleared by July 15.
- I do not think you bring in a new accountant and lawyer for just any merger, I think something of value is coming with the merger for BLDV to incur these additional costs. Highlights of the related 6/12/18 PR:
2. 1:42 > BLDV is trying to systematically build relationships in the medical cannabis industry. As BLDV does this, the connection to and merger with Cann10 is going to allow BLDV to take the next step financially.
- Notice how the BLDV CEO mentions the merger and the connection to Cann10 that will enable BLDV to take the next step financially. I found this part of the interview to be the most important for me to hear. As I have stated before, Cann10 did not chose to get involved with BLDV for no reason. Cann10 chose BLDV, which is currently an OTC Pink company, to enter North America; you do not see this often with an otc ticker. Specifically, I think this comment in the interview gives us insight into to one of the potential advantages to BLDV from the merger which can be additional financial capacity. It will be interesting to see if this potential additional financial capacity translates into value for BLDV’s Canadian strategic partners.
3. 2:06, 12:16 > Interviewer indicates that the BLDV CEO is one of the hardest working CEOs on the OTC markets
- As a shareholder, this comment is in line with my understanding and is good to hear even though BLDV is a client of the interviewer.
4. 2:46 > Fresno 20 acres project: Land is owned by an Israeli gentleman who has a connection with Cann10 and BLDV will be assisting in property development of a grow park
- Notice how the BLDV CEO indicates that the project comes from the connection with Cann10. I think this is important to give us a perspective into the support and motivation of Cann10 to help BLDV grow through its Israeli connections worldwide. Also, I think it helps explain the motivation to merge Cann10 NA into BLDV. I think BLDV’s future growth will be driven in part by Cann10’s Israeli connections.
5. 3:39 > BLDV CEO explains why they are taking on various projects and how the consulting projects give BLDV the opportunity to engage with clients all over North America. Further, he goes on to explain how Cann10 is at the core of the relationship and it will provide licensing of its products and/or technologies in these projects.
- I interpret this part of the interview as indicating that BLDV is getting a foot in the door with these projects that will generate future secondary revenues for BLDV and Cann10 in the form of licensing products, technologies, services and other consulting support <<< This is key.
- Notice how BLDV is engaging with clients all over North America is in alignment with Cann10’s objective to enter North America which will be facilitated through the upcoming merger. If you look at only the titles of BLDV’s PRs dating back to January you will see the pattern/story developing of how BLDV is synchronizing its operations with Cann10 which was included in the title of the 4/9/18 PR, see highlights here:
6. 4:10 > Cann10 is developed out of a biotech company in Israel named Shizim which applied skills to the cannabis industry. Cann10 is a parallel effort which is now active in 10 countries worldwide. BLDV is a Colorado corporation that is merging with Cann10 NA as a Canadian company which gives BLDV the flexibility of listing on the CSE without breaking the existing BLDV structure. A lot of ground work has to be completed for the merger to be in compliance with FINRA and SEC legislation.
- I interpret the use of the words “flexibility” and "without breaking the existing structure" in this part of the interview to mean that BLDV may have the option to list on both sides of the northern border in the future.
7. 6:18 > Cann10 in Israel generates big numbers and they are involved in millions of dollars. Cann10 is involved in the licensing of technologies focused on the pharmaceutical company and a lot of companies are circling back to medical formulations. The Virginia project is an example of these project applications which is Cann10’s strength, see highlights of 5/28/18 PR:
- It will be interesting to see what kinds of returns these cannabis pharma projects will generate.
8. 7:20 > Reg. A+ offering of $3 million will be done in conjunction with the merger of the companies and the expansion of BLDV's governance. Since BLDV is still a non-reporting PinkSheet company, the offering will be completed by September 1 when the first audited statement is filed.
- I find that the governance aspect is being mentioned often which I interpret that Cann10 will have input into how the merged entity will be run.
- I am not familiar with Reg. A+ offerings, if anyone has any constructive thoughts please share them. Here are some links with some general information:
9. 9:20 > BLDV has to take a hard look at how current holdings such as Cannabis Clean will contribute to the BLDV stock value. BLDV is focused on the pharmaceutical biotech direction. BLDV is a science driven company with Cann10 by focusing on targeted therapies and treatments that the medical profession is looking for.
- I think this interview is demonstrating how BLDV is now making much needed realistic decisions on streamlining its operations in order to add long-term value to the stock, such as focusing on the Cann10 approach. I think making realistic decisions and adding value to the stock set the tone and are the purpose of this interview.
10. 11:35 > BLDV has respect for the shareholders during this difficult transition. BLDV is not in this for short-term financial gain and they are committed to creating long-term value for the stock.
- This is one of the reasons why I own BLDV shares.
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