Blue Diamond Virtual REIT Meets to Discuss New Corporate Direction

Blue Diamond Virtual REIT (BDVR : ACE) had a shareholders meeting today to meet with new CEO Hugo Leckrone and discuss the future for the ACE market bellweather.

One of the strategies discussed was converting 66% of BDVR(ACE) land holdings to rental services, starting with skyboxes and luxury apartment buildings.

Also BDVR(ACE), which has consistently paid dividends each month since December of last year, ending with November of this year, which earns it a Luminos Dividend Rating of 3-Stars (4 of last 6 months dividend paid) and has already returned the original price of IPO to shareholders, has decided to forego dividend again in December, to hopefully resume in January.

Other members of the BDVR(ACE) board of directors, CFO and Marketing Director JayT Axel and Customer Relations and Sales Director Matt1030, were unable to make the meeting due to technical or other obligations.

Other than some insights into how to work within the sector that BDVR(ACE) has thrived in provided by outgoing former CEO Robo Marx, Hugo Leckrone is essentially taking over the reins and direction of BDVR from scratch.

Future strategic partnerships and plans with ESN(ACE), of which JayT Axel is a major shareholder, were discussed, with some skepticism presented by shareholders to the closeness of a relationship and conflict of interest that may result.

"The ESN tie up you've mentioned, I understand why it makes sense but still worried at the lack of challenge to decisons being made that may very well just be in ESNs interest," said one shareholder. "We have JayT who I'm sure will be working for BDVR but with this connection to ESN it feels a little too cosy."

Hugo Leckrone also stressed his interest in providing healthy dividend yields to shareholders, rather than worrying about company efforts in propping or inflating share value.

"I'm not interested in the shares price," Leckrone said, "I'm interested in recurrents, dividends. The share price is a affair for investors."

Discussion was given to compensation for Board Members, and this was ruled to go to a shareholder vote via the SLCAPEX company forum after a detailed plan could be written.

The final area of discussion was about a possible move of BDVR(ACE)'s office from the second floor of the ACE Exchange to another more cost effective alternative, to be decided after the current BDVR(ACE) lease runs out.