Replies to post #31928 on Deep Blue Marine (DPBE)

[keda]

jrf,

Please realize that your statment about me is wrong. No biggie, but I wanted you to at least know that the statement is true regardelss of how many were sold and that I never said or though thtat all were sold. thanks.

Mea culpa.

But you can't really know what kind of impact it is on shareholders unless you know the number. Even were it true saying DPBE gets NO MOENY until the LPs are paid off, it's meaningless without knowing if the payoff is $1 or $1,000,000. Big difference!

Even still, can we really know? As I understand it, the LPs are paid back in recovered coins (received in a division), not dollars or other artifacts. As I see it, there are two confounding factors at play here. 1. Anything recovered (and recieved in a division) that is NOT a coin belongs to the company and the LPs have no claim on it. 2. How do they decide the value of the coins they are paying with? I would bet this is one of the reasons they didn't sell too many of these partnerships--the company could assign them an inflated price and basically rip off the LPs. Even more troubling if Wilf really did buy most of the sold LPs is the company could undervalue the coins and funnel excess coins directly to Wilf away from shareholders. Partially the danger here is the potential for the perception of either or both of those things happening whether true or not. It would have been better if the LPs were paid back in dollars from auctioning off the coins. If they wanted the actual coins, they could bid at the auction. Or take their proceeds and buy one off the website (assuming that ever works as I know it did not for you).

And of course as you know, at least for now, we have no idea what the contract with Three Reales is. I have no doubts it is a boon for the recovery efforts and probably great for Billy, Randy, and Wilf. As for us shareholders, I have doubts we will see a benefit. But then, without this deal I'm sure we would have lost the contract and the value of this stock would be absolutely zero instead of virtually zero.

And even at $100.00 per share, it won't do me any good if E*Trade won't let me sell....