To: Spark who wrote (165 ) 5/27/1999 6:29:00 PM From: CBurnett Read Replies (1) | Respond to
don't mean to be condescending. I was accused by RPM7500 of not doing my homework, so I challenged him to do a little of his own. Grafton Holdings is a co. showing a Panama address that owns 2,500,00 shares of DDEQ. So is Oak Holdings, a co. that owns a like amount. Pedro Coronado is a Panamanian who is listed as owning another 2,500,000 shares. Peter Robin Bailey, another Panamanian addresee, owns another 2,500,000. Dingaan Holdings is a Bahamas co. that owns 992,065 preferred shares which are convertible to 18,000,000 common shares. All of these foreign entities will be very difficult to sue or prosecute in the event of securities irregularities because of their foreign ownership. They control DDEQ lock stock and barrel. If Dingaan converts, this means that 28,000,000 shares of DDEQ will be in foreign hands over which there will likely be no remedy for the small fry owner in the event they do anything to harm the minority shareholders or the co. as a whole. The small shareholders will not do much because the stakes to them are small. However, the stakes to the entities who control DDEQ are large because they, not you, will make the money in a big way. Are you really interested in owning stock in a company that can be instantly diluted by Dingaan's possible conversion of preferred stock? Michael Swan was a director of either DDEQ or the predecessor co. to DDEQ who was indicted for securities fraud. The "CEO" of DDEQ was not indicted but as far as I'm concerned they were intimately involved in running DDEQ together. The whole deal is very fishy to me. I got this info from DDEQ's SEC filings, which proves to me that they are being legalistically accurate. However, big questions still exist such as who exactly controls Dingaan Holdings, the co. that can by converting into common stock dilute the bejesus out of your investment. Maybe Weider, with his bosom-buddy connection to the "CEO" of DDEQ, can get this question answered for you.
