Diamond Equity Estates Domain Expires

By: Destination Club News
Date: January 8, 2006

Launched less than a year ago, it appears that the short chapter of Diamond Equity Estates has officially concluded as the club's website domain has expired.

Diamond Equity Estates launched last year, a subsidiary of Diamond Bay Holdings, Inc. In addition to the destination club venture, Diamond Bay also had subsidiaries in telecommunications, career services, and internet marketing.

"We are very excited about our plans to grow our base of luxurious vacation destination properties and offer our members an outstanding value," said Jeff Guzy, President of Diamond Bay Holdings, earlier this year. "We are planning on acquiring properties such as private wineries, castles, ocean and ski resorts and other, similar properties that will enable our members to experience the very finest in vacation luxury."

According to Guzy, Diamond Equity Estates was in the final stages of acquiring their first two properties - a castle and a wine estate - but no information about where these properties were located was ever released. It appears that the club was planning on funding the acquisition of these properties through new membership recruitment, charging between $150,000 for their Destiny Memberships and $500,000 for their Equity Memberships.

Trading as DBHD on the Pink Sheets, shares were sold for approximately $0.17. By July, shares were being traded for approximately $0.03.

If you are considering joining a new or established destination club, conducting a thorough due diligence review should be mandatory to ensure the security of your membership funds. Joining a new destination club has its advantages, including preferred pricing and direct access to the club's executive team. But if the club is unable to acquire other members, as was the case for Diamond Equity Estates, you can potentially lose the money you paid to join the club. To receive a list of suggested due diligence questions that will help you better understand the club, request a free copy of our Destination Club Guide.