this guy is close to smitty - but likely still feeding him money as I think he beleives the fairy tale
By: coloriverman
26 Apr 2008, 06:12 PM EDT
Msg. 11684 of 11686
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Buckey it never ceases to amaze me that you can spend soo much time on a stock that you don't own and that the outcome of the court case is meaningless to you personally. I own a significant number of shares and can't spend every day watching raging bull for a new morsel of info to attack or investigate. Personally, I wish you would get a life and leave us alone but answering your questins provides a means of informing interested parties about ongoings of the company.
However here is some more info to chew on. No one was in court yesterday. The matter was likely postponed until May 7th when the Court is slated to hear Smith’s motion Remediating False Info.
It is impropable that the Court is going to decide on something as important as receivership for Digital Gas until at least the motion on May 7th is heard. I believe you will also see a Digital Gas attorney surface shortly. Until now it appears that Smith has been fighting the fight for both the company and himself. One reason might have been to save money.
For some reason the AG has continually sought to attach Smith’s lawyer’s fees. It also appears as if they filed a lot of unnecessary motions which were either denied or withdrawn. The fear of wasting money better spent on the company or having it attached made this a cost effective strategy.
There was a case conference on April 7th. The AG put their motion out right after the case conference and was shortly followed by Digital’s motion. Smith’s motion appears to call for a remediation of false info, it might be the case that his attorney voiced some objection to the judge that was followed up by a motion.
The fact that the AG went for receivership right after the case conference and after this long period of time might indicate that they wanted to pre-empt the Remediating False Info motion and render the company dead in the water before Smith had the time or funds to retain an attorney.
I have personally reviewed a number of business plans for DIGG and believe the potential still exists for significant value if the funding can be obtained. Funding has always been the biggest obstacle facing the company. The attack by the AG was the worst thing that could have occurred to the shareholders of the company because of the impact on negotiations at that time. If the company gets financed, the plans happen. If it doesn’t get financed, nothing happens.
If the receivership is granted, every deal the company had or might have added will no doubt evaporate.
The quarry is 100 million tons and Digital Gas owns half of that. Sold as a greenfields project, 100 million tons could possibly fetch $1.00 per ton. On a pre-tax basis and assuming 50 million shares outstanding, that looks like $1.00 per share value.
I don’t think the receivership motion will be granted. The quarry is going nowhere. Also, Digital Gas has a partner, so, presumably, it can do nothing without its partner without a lot of legal expense to sever the property in court. Hence, Smith won’t be carting off 50 million tons any time soon.
On the other hand, if the receivership motion is granted prematurely, even on some technicality and without a full evidentiary hearing, you can kiss-off the investors, the products, the technologies, the employees, the consultants and any funding it might get.
I see the receivership motion as a massive cover-up and attempt to short cut Digital Gas and its shareholders.
I am certain the judge sees through this and will wait until the May 7th hearings before he decides.
Buckey the the point that you should address is not what other quarries and where. You’ll find that out along with everyone else.
The point is the $850,000 federal bank fraud with 2.5 million shares of Digital Gas stock. If you called Lowe, he probably told you to avoid the bank question.
The facts are clear:
1. People filed complaints against the company to law enforcement and regulators, claiming it was a worthless scam;
2. The same people took restricted shares of Digital Gas stock to a federal bank, filled out false loan applications and proceeded to literally rob the bank of $850,000;
3. They formed their own company and substituted it for the Digital Gas subsidiary they were charged fiducially to protect in the federal bankruptcy court in Wyoming;
4. After they disappeared from the bank, the bank tried to get the shares freed up;
5. Digital Gas refused to free up the restricted shares;
6. More complaints were filed against Digital Gas for defrauding them and the bank (for what who knows);
7. Digital Gas was served with a civil complaint by the BOS
8. The people who defrauded the bank, and forum members, bought into the other half of the Digital Gas property in Shelburne directly, through proxies or silently
…….and you want to know about additional quarries?
Rather than pursuing the success of DIGG all of your efforts are to prove the company as a scam. Based on your track record it would be insane to provide you with that kind of information.
As the self appointed defender of Digital Gas shareholders why not pursue the bank robbers, the bank and the court out west? Fairway Energy LLC is another name to pursue.
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