Deep Blue, Inc. Explains Equity Investment Monday November 20, 9:49 am ET
LAS VEGAS, NV--(MARKET WIRE)--Nov 20, 2006 -- Deep Blue, Inc. (Other OTC:DPBL.PK - News) explains equity investment news release from November 16, 2006. ADVERTISEMENT
The equity investment is anticipated to close within 45 days of mutual acceptance and final legal due diligence on the part of both respective boards of directors.
An escrow procedure must be addressed for all stock transfer issues. All parties must agree upon a percentage equity stake, all stock issued to the equity group will be Rule144 registered stock with a minimum of a two year hold period. Deep Blue, Inc. wishes to be extremely clear that this agreement is not a convertible debenture, nor is the stock held offshore outside US jurisdiction.
The Board of Directors passed a resolution with a stock lock-up provision that requires all Board Members to hold their stock for a three year period. The Lock-Up Period commenced on August 4, 2006 and will continue for three years. The agreement is not affected by separation from the company. This action was taken by the Board to demonstrate to the market the long-term commitment of its management team and as a catalyst in discussions with the private equity group. The equity group will be expected to follow their example.
The Board of Directors will hold a special meeting to discuss the current situation regarding the naked short selling of approximately 4 million shares of DPBL stock. Management believes several market makers could be in violation of SEC Regulation SHO, evidence is being assembled and will be forwarded to the proper authorities.
Management believes that the company may have no choice but to start the process of a symbol and cusip number change which will require all legitimate shareholders to exchange their DPBL common stock for certificates with new symbol and cusip numbers.
Deep Blue, Inc. (www.deepblueinc.com) is bringing to market an innovative patent-pending treatment, (Application Number 11/208,402), for HIV /AIDS and other viral infectious diseases.
Cautionary Statement:
This news release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although Deep Blue, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included herein, the inclusion should not be regarded as a representation by Deep Blue, Inc., or any other person that the objectives and plans of Deep Blue, Inc. will be achieved.
Posted by simpleman on :
The Board of Directors will hold a special meeting to discuss the current situation regarding the naked short selling of approximately 4 million shares of DPBL stock. Management believes several market makers could be in violation of SEC Regulation SHO, evidence is being assembled and will be forwarded to the proper authorities.
Management believes that the company may have no choice but to start the process of a symbol and cusip number change which will require all legitimate shareholders to exchange their DPBL common stock for certificates with new symbol and cusip numbers.
Posted by PCola77 on :
According to pinksheets.com there are 217,449,446 outstanding shares, and so 4 million shorts being covered would probably have no impact at all.
In my opinion of course.
Posted by simpleman on :
Yes alot of o/s but the float is only around 10 million, I will be right back with some more info
Posted by simpleman on :
Deep Blue Announces Management Decision Tuesday November 21, 10:51 am ET
LAS VEGAS, NV--(MARKET WIRE)--Nov 21, 2006 -- Deep Blue, Inc. (Other OTC:DPBL.PK - News) Based on the current situation regarding the naked short selling of over 4 million shares of DPBL stock, management has initiated the process for a symbol and cusip number change which will require all legitimate shareholders to exchange their DPBL stock for shares with new symbol and cusip numbers. Deep Blue, Inc. (www.deepblueinc.com) is bringing to market an innovative patent-pending treatment, (Application Number 11/208,402), for HIV /AIDS and other viral infectious diseases
Posted by simpleman on :
ABOUT DEEP BLUE: Deep Blue, Inc. is an organization that is bringing to market a patent-pending treatment, (Application Number 11/208,402), for HIV /AIDS and other viral infectious diseases. Deep Blue’s protocols and technology have been in development for over 9 years. In April 2005, Deep Blue Inc. was granted the only FDA Non-significant Risk Status for the treatment of AIDS and Hepatitis C using class “A” medical devices.The FDA Stage-II single-site study has been approved to conduct human trials and is scheduled to be completed by January 30, 2007. Deep Blue, Inc. will complete their multi-site trials at several leading research hospitals in the first quarter of 2007.
All investor inquiries should be directed via email to investorrelations*deepblueinc.com
CORPORATE MAILING ADDRESS: Deep Blue, Inc. 8370 West Cheyenne Ave Suite 109-204 Las Vegas, NV 89129