Lion NEGG read bold spots.We should be moving up in the .007 and .008 area by middle of next week Imo.
NEW YORK, Aug. 15 /PRNewswire-FirstCall/ -- Global Diamond Exchange Inc. (OTC Pink Sheets: GBDX) Global Diamond updates shareholders on merger/Acquisition with Sib Almaz. The transaction has proceeded slower than expected, but completion is anticipated by mid September. Slava Beurikov states: 'The transaction was more complicated than originally anticipated. We have international agreements and formal contracts that had to be finalized. New management is in place and the company is looking forward to a timely completion of the transaction. Details will be made public through press releases as they occur and the transaction is finalized.'
Regarding Fall Season: Sixty five to seventy percent of the year's business can be realized in the Fall season, and Global plans to increase the staff to accommodate this added activity. Global has significant ability to buy diamonds with their venture partners, and has been successful in turning these shipments at a profit in an efficient manor. New management is also currently implementing a different business strategy; which includes a more aggressive approach in offering inventory as individual pieces and lots. This business model will allow qualified buyers to view individual pieces and allow the company to generate more profit on these pieces. New management plans to keep substantial inventory (as allowed by insurance limits) on hand at all times for lot sales, as well as, pieces for individual purchases.
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