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Hello dear fellow investors,
today after some talks with BDVR (VSTEX) insiders it has come to my attention that the CEO of BDVR (a skybox rentaks company on VSTEX and formerly on ACE) has gone missing.
Bagz has not logged in for more than a month an a half and he is the only one who has access to the company accounts and avatars. So far no reports of any assets stolen can not be confirmed.
People on the BDVR BOD are working with VSTEX staff to get the accounts on VSTEX suspended until a theral investigation is held.
If there are any suggestions about how to better handle this please post your comments here.
Personally i would like to hear if there is any point in looking for help from LL. Can they do anything?
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AlainDelpiaz wrote:
Personally i would like to hear if there is any point in looking for help from LL. Can they do anything?
Generally transfer of accounts is prohibited, except if you either do it privately (ie: if the person gives the password to someone else), or if the the accountholder gave written permission.
In case of BDVR, one should say that due to the structure of the company Bags by having a BOD gave them such permission, but a listed company isn't really a binding contract, not something LL can rely on (otherwise it would open up for much abuse).
In short, i think a plan "B" has to be established, unless such a legal contract exist or unless someone does have the password.
The plan "B" being: As soon as possible gather all cash from all exchanges the BDVR Holding account has, use that cash to acquire skyboxes and equipment, rent some cheap land for skybox use, get the tenants to move. Writeoff whatever, cash/land was in bags account.
Not counting Bags shares, this case, even considering if the plan B i propose would be executed, has a GREAT chance of a very successful recovery for BDVR, if the BOD with some help from the exchanges can go ahead ASAP.
It is self-evident Bags is gone, the holding account should be immidiately transfered to the bod (or the chairman), so they can cashout from the exchanges and move on to plan B.
That's my few cents.
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Alain I saw Bagz in front of the ISE ATM a week ago. But is clear he despeard due to BDVR situation,just go to Perelman to see the desaster.
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Excellent points Andy.
And i do know that Bagz has company assets here on ISE as well. So with this i ask Cocky to halt both accounts and their holdings here - Bagz Zapedski and BDVR Holding.
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Disregard......different name I was told. lol
Last edited by mystichandrick (2010-02-05 10:39:20)
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Hugo,
May I ask in what capacity you saw Bagz at the ISE ATM, being on the board of Directors at BDVR I believe I have clearer visibility of Bagz's activities inworld. In the Directors group for BDVR it clearly reflects that Bagz hasnt logged on since 12/13/09. I would be very impressed if you can provide anything that supports your claims.
Please IM with whatever information you have, ideally not the dreams you had last night.
Many thanks
Chip Allen
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Many thanks to all for your assistance in this matter, my first aim is to gain an understand of the financial position of BDVR, once collated a report can then be presented to investors to deicide on any future actions required.
I would like thank everyone in advance for their input during this trying time.
Rgds
Chip Allen
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chip allen I understand that this can sound rare and I dont say is not true the group reflects that date, but I think I saw him a week or 10 days ago in the ISE atm. Even I talked wto him and no answer.
maybe im wrong, but ask Ise If he had activity lately here.
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First measure has to be to get control over BDVRHolding BnT, this avi should own skyboxes and hippo system.
Formerly shares were owned by DWE BnT, the board SHOULD know about the portfolio, which I assume is still mainly ACE crap, so de facto worthless.
In my opinion the whole management has failed, and a further attempt to recue the company can only be the transfer of the company account to Alain as large shareholder or to give it to a trustworthy outsider.
Last edited by AnjaDrevnerussky (2010-02-05 11:55:46)
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actually if someone can get a hold of Ham he can get into the BNT avi accounts if they are still up and running,
otherwise they were suspended per the fact that Int "Mike" was paying an extra usd per amount to LL's for
those account names. and yes I am southernborne73 Thespian thats how i know about the topic of
the BNT accounts.....
Last edited by AtreyuFrequency (2010-02-05 14:52:39)
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Wouldn't those BNT last names become invalid if Intlibber doesn't renew them?
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Atreyu,
It is my undestanding that the passwords have changed, I have contacted Ham to ensure the passwords are one and the same.
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Anja, I would disagree with your comments, with the monies that were available to the board at time of handover, I believe that we have done an exceptional job, at rebuilding from scratch a company that was in poor position. could we please discuss these issues once we get a better grasp of the situation. I would like to concentrate on re-couping any funds possible for investors and reviewing the current financial position of BDVR.
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just saying if you cannot get a hold of Bagz @ least you still would have control of the BNT accounts, per you
could look up the account finacials "sorry bout spelling". If all were so worried you do have that back up as long
as the hippo's and such were made to be paid to that account....
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Your CEO announced to publish financial statements on 12/04/2009, 9 days before he logged in for the last time. http://forums.vstex.net/index.php?topic=683.0
Since then there has been zero PUBLIC communication. I really feel we don't need more of those companies.
Maybe BDR investors are lucky with Bagz' diappearing and creating an emergncy situation, else - in case VSTEX applied its own rules consequently - BDR would have just been delisted.
Anyways, good luck to all BD(V)R investors!
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I'm pretty sure that all BNT last name accounts are locked, which is part of the beef between Int and LL (no access to the any L$ balances that could have paid part of the LL bill for BNT)
Regardless, I believe that Bagz transferred everything into a company account that was not BNT. Do not quote me on this but I think he took on matters to protect the company when troubles started appearing for BNT/ACE.
Cheers,
Ham
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Looks like Bagz has resurfaced. At least he communicated to the market that he will communicate with the market soon
http://forums.vstex.net/index.php?topic=725.0
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