Global Diamond Exchange Wholesale Office Opens for Business, First Allotment Is Sold Out Wednesday November 15, 9:58 am ET
NEW YORK, NY--(MARKET WIRE)--Nov 15, 2006 -- Global Diamond Exchange (Other OTC:GBDX.PK - News) is pleased to announce that its wholesale office has been opened and the company is back conducting business in their old building. Global Diamond signed a five year lease on August 31, 2006 with an option to renew for an additional five years and was scheduled to move into suite 704 on November 1st, 2006. ADVERTISEMENT
However, due to a prior tenant who refused to vacate the premises, the company was forced to take space on a different floor in the building. The current tenant of that office, New Creations, has been legally forced to move out and will do so by December 15, 2006. After a full clean up, installation of a new safe and alarm system, Global will then occupy its office on the 7th floor. Building management has been kind enough to provide Global Diamonds space in the same building but on a different floor. Additionally, as of Friday, November 17, 2006, the company name will appear on the display board downstairs in the building lobby.
In the meantime, the company has been displaying its initial shipment of diamonds out of the temporary office and is proud to say that is has completely sold out its first allotment. The initial allotment was for 698 carats and was sold out within a week of its showing. A much larger second order has already been placed and will arrive in New York shortly.
Global CEO, Alexey Cherebkov, stated that he was "excited being back in a place that we were so successful our first time around and its nice to see a lot of the old faces that recognize and remember Global Diamonds. I look forward to re-establishing the Global Diamond brand in New York." Mr. Cherebkov and Global Diamonds also wish to clarify an ongoing misconception regarding the wholesale location. The location strictly sells as a 1st tier wholesaler to other wholesalers. It is not a retail location and is only accessible to established diamond dealers in the industry.
About Global Diamond Exchange:
Global Diamond Exchange originally opened their office on 2 West 46th street in the heart of the 'New York's Diamond District'. After several years of operation at their New York office the company decided to shut down the operation due to low pricing and soft demand in North America. The company concentrated its efforts on exporting cut diamonds from the Russia Federation and European locations. The new company has reopened its sales offices in the original building ready to take on the increased demand for fine quality diamonds.
NOTE: Safe Harbor for Forward-Looking Statements.
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of the Company to complete the planned bridge financing, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings.
Contact: Contact: Alex Livak: 347-813-4664 Email: Email Contact
-------------------------------------------------------------------------------- Source: Global Diamonds Inc.
Posts: 819 | Registered: Apr 2006
| IP: Logged |
The only reason I got out was because of the wall at 018. Looks like good buys at 018 but the wall isn't coming down...If it breaks it, should go onto the 02's.
017x018 2x5
Posts: 3026 | From: Chicago | Registered: Oct 2005
| IP: Logged |
posted
For sure, but you took a safe decision, because the wall at 0.018 might not be broken as things are going now.
Posts: 819 | Registered: Apr 2006
| IP: Logged |
posted
I tried selling at .016 today. I'm glad the order didn't get filled.
-------------------- Tommorow and tomorrow and tomorrow. Creeps in this petty pace from day to day. Posts: 49 | From: Ontario, Canada | Registered: Oct 2006
| IP: Logged |
Please lock this thread. There is already a thread for this.
Thanks
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
| IP: Logged |
posted
please lock this thread. there is already a thread for this
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
| IP: Logged |
-------------------- Tommorow and tomorrow and tomorrow. Creeps in this petty pace from day to day. Posts: 49 | From: Ontario, Canada | Registered: Oct 2006
| IP: Logged |
posted
BooDog, I understand there is already a thread, but it takes like 30 mins to find it... there should be a research option to find already existant threads. Are you a mod? If so, this is a suggestion.
Posts: 819 | Registered: Apr 2006
| IP: Logged |
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
| IP: Logged |
Topic Closed
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
