PDVP - A Stunning Change Of Events McGinley out Astrom In

PDVP - A Stunning Change Of Events
28 July 07
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If you do a search for PDVP on our brand new "search news articles" search bar toward the bottom of the site you'll be shown at least 8 articles related to this stock. Most of them are in the article archive as they are over a month old. I also know from many private messages I received a lot of our members have made some nice money from PDVP. We called their three most recent runs. We've talked to their CEO, did some DD and chart analysis on the stock and we usually were able to predict when PDVP was ready to run.
But that is about all you can predict when it comes to pink sheet stocks. Look at this press release that came almost 30 minutes after the bell on Friday:
Podium Venture Group, Inc. Comments on Recent Events
Podium Venture Group, Inc. (PINKSHEETS: PDVP) comments on recent events.
Effective immediately, President and Sole Director, Jim McGinley resigns from any and all capacity within Podium Venture Group, Inc. The interim President and Director of Podium Venture Group, Inc. will be Richard Astrom. Furthermore, with Mr. McGinley's departure from the company, the company has divested its control and/or interest in N'East Magazine, Corduroy Surf Company and Erino Clothing.
This press release contains certain forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Jim McGinley has resigned and Richard Astrom is now taking over. The company has also divested all their assets, meaning the company is nothing but a shell again. This might explain the recent drop in price. It also explains why my calls and emails to the company remained unanswered. The news is huge for anyone who owns PDVP and of interest to anyone who trades Pink Sheet stocks. What a change of events. How can a company be 'growing' one minute and then divest itself of all its assets the next minute? It is a total disregard for PDVP shareholders who bought stock in a company and now own shares in a virtually worthless shell!
I did talk to Jim McGinley back in June and one question I raised was about Astrom. He laughed when I asked him if the Astrom issue was a problem for the company. I got the feeling that he thought it was not going to be an issue. I guess he was wrong.
Rest assured this stock will tank on Monday and some people might be stuck with shares no one wants to buy.
How quickly things have changed. A little while back PDVP was slowly climbing to $.0017 and now we will likely see $.0001.
The moral of the PDVP story is that even the best DD can be for naught. The company appeared to be on solid ground. The CEO repeatedly said he was not going to raise the authorized shares. This all made PDVP an attractive buy considering the level it has been trading at. Now it is a stock no one will want to buy.