Deep Blue Marine, Inc. (PINKSHEETS: DPBE) President and CEO Wilf Blum recently announced that he is preparing to purchase shares in the open market for his corporate account and has committed personal funds to the continued operations of Deep Blue Marine, Inc.
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Mr. Blum is quoted as saying, "The future of Deep Blue is very positive as the company moves forward with plans for 2010. I have made the decision to invest more of my personal funds into the company. As of today I have purchased 88,000,000 shares of the company out of the public markets and hope to be able to increase that position in the near future. I have also lent the company over $1,900,000 operationally; to date that is secured by a convertible note. I intend to continue to fund the company through personal funds until such time as the company can fund itself. I appreciate the support the shareholders have shown and remain committed to this project. Deep Blue is moving forward in many areas such as contract development in other countries and the increased attention of management on areas that provide income. The division of the company known as Deep Blue Treasures, which buys and sells scrap gold, has steadily increased and should soon be contributing to the bottom line, plus we have plans for 2010 in 3 other areas that will increase cash flow to the point that the company may, for the first time, be in a positive cash flow position. That is expected to happen in the beginning of the third quarter of 2010, but only time will tell. I'm very excited about the future of this company. Anyone thinking of investing in this type of operation should keep in mind the risks of this type of investment. The job requires long days, weeks, months and sometimes years of searching the ocean floor, looking through records and undertaking thousands of dives all based on the hope that we will find gold, silver and other precious artifacts from the past. No one should invest in Deep Blue Marine who can not afford to wait as we keep going forward towards our goals. It may take us years to find what we are looking for, but then THIS IS THE DIVE!"
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