Replies to post #97863 on Drone Services USA Inc. (DSUS)

[OldCrippledHobo]

Found this posted on the board back in December:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=94930760

The new 1 billion shares issued are for collaterlized debt. My guess is these will be given to Wells Fargo in case they won't be able to pay interest, these will be converted. These will be restricted or preferred IMO.

The 750 mil will be retired from previously issued shares. These will be in addition to 340 mil buyback announced previously. So total reduction in SS is 1 billion.

The company has said that prior debt holders agreed for these reduction. I think that they are retiring shares that might have been allocated to Hydraki aka one day cruise. Since the company is not moving forward with the merger these will be retired. IMO

[Cassandra]

Kerry (PG), a company representative, announced in a non-public conference call on 12/11/13 that the company had negotiated with a shareholder to redeem and retire 500 million shares and were working on another 250 million. The bizarre thing is that the day before the CC, PVEC increased the AS by 1 billion so at best it was one step forward and two steps backward.

She also announced that corrective PRs need to be issued as some of the previous ones were not authorized. No corrective PRs have been issued.

Transcript: https://pveinternational.com/Documents/PVEC_CC_12_11_13.pdf

PVEC has undergone massive dilution in the last few months. At the begining of the year, the OS was less than 249,000,000. As of 9/30/13 it was 2,971,825,050!!! -- More than a tenfold increase! Most of the new shares were issued as free-trading for convertible debt.

It is unknown how many of the free-trading shares have yet to be dumped into the float. By the looks of today's record volume and minimal increase in share price, it looks like some of those new shares are being dumped.

Increases to the number of authorized common shares per the NV SoS:

12/8/09: 249,000,000
2/23/13: 494,000,000
6/04/13: 529,500,000
6/20/13: 744,000,000
8/20/13: 1,944,000,000
10/17/13: 2,994,000,000
12/10/13: 3,994,000,000

https://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=uyx9DfdRU25WJll%252fgaY8sQ%253d%253d&CorpName=PV+ENTERPRISES+INTERNATIONAL%2c+INC.