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Bullboard - Stock Discussion Forum Data Deposit Box Inc DDBXF

Data Deposit Box Inc develops and operates off-site computer data storage facilities and other business computer applications for commercial business customers in Canada. It offers continuous cloud backup; mobile backup; and email archiving services.

OTCPK:DDBXF - Post Discussion

Data Deposit Box Inc > MNB and friends. Please help clarify the chaos.
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Post by LaziGROW on Feb 15, 2020 4:00pm

MNB and friends. Please help clarify the chaos.

Moneynorthbound,
 
“itsreallyu” from CEO here.
 
There are so many posts yelling at us. We hear you. We understand and appreciate your energy, but to rally the people (especially the inexperienced investors like me), we need things clear and concise and simplified.  At this point, after all we’ve spent on this cow, and then spent some more (to bring our averages down for that day that we hoped for), and then spending more on ‘slapping that ask’ and keeping this beast alive, we are simply exhausted and ready to die.  BUT - it would be a bonus that, even if we must die with nothing, that the corrupt insiders also suffer the same fate for poorly managing this company and misleading us.  Sounds horrible but this is the game they put us in.

I believe the CEO forum is now aware of your attempts (and the work of you and the group of 5), and it is all much appreciated.  Here’s what I've gathered from the many posts.  We need to have a master instructional laid out like this to help us understand exactly what the expectations are:


OPTION 1:  The $10k fundraising.  ($500 or less – or more - needs to be ready-to-pay by each shareholder, depending on how many people want in):
  • It is obvious that this is the least popular option.  Sure, $10k will retain the lawyer from Mills & Mills.  But is that it?
  • i.e. will we be expected to pay more afterward?  This is not clear.  (if the answer is “yes” or “maybe”, then the popularity drops even further, of course)
  • What happens AFTER that $10k is paid?  They write a letter, and that is it – the HostPapa deal is stopped, and we “win”? 
  • There’s already been 3 new posts since I started writing this… and I may be falling behind.
  • It seems the ‘letter’ can suggest an alternative (that they let us shareholders tag along with Hostpapa, instead of stopping the deal entirely.)
  • Which of the 2 letter options are more realistic to achieve?  This is not clear at the moment… but hopefully will clear up as we hear more.  But the updates must be clear.
  • Short answer:  We have spent so much.  Spending, and spending, and spending money on this huge disappointment of an investment.  And most of us are tapped out.  This one will be tough.

OPTION 2:  Subscribe to the $25/mo fee for LegalShield.- Definitely the more affordable option for people like me.  Will it be just as effective as OPTION 1?
  • Do we sign up at legalshield.com or legalshield.ca  (does this  matter? If yes, then it is important to clarify)
  • After we sign up, then what do we do?  It seems we are expected to do a write-up of what our problems are with this HostPapa deal. This part is important.
  • If each person decides to go this route, should we have a clear & consistent write-up with all evidence needed? (probably yes – and who is willing to do this for the group?)
  • Do we need x amount of people to sign up for LegalShield in order for this to be a success?  If so, how many?
  • How long does each person need to be subscribed to this for?  Just one month?  All year long? Would be nice to know. And would make the decision for this OPTION #2 much easier.

That’s all I got for now.  It certainly does feel like this “No” vote opportunity is a formality and a setup and is doomed to fail.  Thank you for fighting for us, and hopefully we can rally as many people as needed.
Comment by nickeliferous on Feb 15, 2020 5:12pm
An important assumption that needs clarified is will HostPapa be going public? If not, then this share for share idea is a moot point, and option 1 becomes more a reality. For me, I don't have that kind of cash  to contribute for a retainer, and further cash after that retainer is used up.  How can we find out if HostPapa plans on listing? 
Comment by moneynorthbound on Feb 15, 2020 5:33pm
  I do not care if the company is named A BLUE HEADED ELEPHANT, Hostpapa is probably the shell named company removing us from this earth and our money. WE are being disintegrated by a shell company possibly Hostpapa, but at this point we can only follow our money. It is Hostpapa that is stealing our money that is where we need to be!!!! Wherever my shares are going that is where I want to be ...more  
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