Replies to post #85044 on Blue Diamond Ventures Inc (BLDV)

[Kool Aid Man]

People don't want to hear it but wiping out shareholders via a reverse split is about the only way to start over with a clean slate. Don't kid yourselves.. there are ways management can insulate themselves. Management and a few insiders mostly hold preferred stock.  When you do a reverse split, you don't have to include the preferred if you don't want to. However they can still enforce any pre-existing conversion rates regardless of whatever the post-R/S price may be. According to the current annual report--

Exact title and class of securities outstanding: Preferred “B”
Par or stated value: 1 to 3 into common
Total shares authorized: 100,000,000 as of date: 12/31/2019
Total shares outstanding: 100,000,000 as of date: 12/31/2019

Exact title and class of securities outstanding: Preferred “C”
Par or stated value: 1 to 10 into common (Josh owns 10m which convert into 100m common)
Total shares authorized: 200,000,000 as of date: 12/31/2019
Total shares outstanding: 97,500,000 as of date: 12/31/2019

 So 100% of "Preferred B" shares are outstanding and convert into 300 million common. Nearly 50% of "Preferred C" shares are outstanding and convert into 975 million common with tons more to issue.

Obviously the O/S of BLDV is way too big.  That's why the price won't move.  Some of us have seen management of tons of penny stocks say they'll NEVER do a reverse split, and then do one a month later. I'm just letting people know that it's possible (IMO probable) despite what management said in the past. Also, in case anyone missed it--

HARVEST360 TECHNOLOGIES LLC has apparently succeeded in pulling off a "reverse merger." That's what the phrase "sole surviving entity" means (page 8 of the current annual report). Todd & Co now own and run this ticker. ANY promises Josh Alper made in the past will only be honored if new management decides to. Josh CAN be outvoted now 66.66%to 33.33%. IMO new management needs shares to sell to bring in new money rather than to pay off old bagholders. One way this happens is management pulls a R/S yet only reduces the A/S a token amount. At first glance that seems like a fair thing but in reality it represents a relative --sometimes astronomic--increase in the A/S.