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Diamonds into tradable securities financial firm -- shares getting -- patent this week.
For a process to do exactly that so.
We'll diamonds be the next big commodity for investors joining us now from -- shares is Danny programs -- Daniel.
2011 was a great year for diamonds I know they rose about 90% but historically speaking diamonds have been eight terrible investing -- lucky to get half your money back if -- trying to resell them.
How would this process change that.
Well in terms of reselling and what let's define what we have here first David.
We have a patent that's been issued on.
Identifying a particular type of diamond ever discussing here.
And that is an investment grade diamond that diamond has to meet certain criteria subject of an objective criteria.
If it does meet that then it's put into with a basket -- other diamond which is a part of our patent.
And then from that we have a methodology decrease the value of that basket.
Now let's go back to the point do you race to what we're looking at here trading is not an individual stone.
For any stone that you could find on the street what we're looking at trading.
Is a very unique what we consider a global investment grade standard stone.
And it is the value of that basket as it rises them follows that you and I would be trading.
I loved the idea because it seems like -- something new and an opportunity but diamonds and their prices are so idiosyncratic now.
It kind of dove tails off at David's question but.
Going back to making sure that you don't get the rip off factor because every time an anybody's ever -- a diamond will come in they'll -- Hello this cut this characters clarity its efforts on -- enough already and then.
It's worth 7000 dollars a -- The next day you could go back to sell it and -- obvious things piece of junk but that there's a tiny speck and it forget and I'll take 3500.
I it seems -- -- a scam in many cases so how do you eliminate that part of it.
What you both have identified something that's been critical -- which is also prevented diamonds from -- and securitized in the past.
And that is how do you -- -- how do you make it fungible.
So what we've done is we've taken.
If you look at certification process for example for stones.
Those certification processes are subjected and that's also one of the issues that you're facing and what you just described what we're talking about here.
Is taking subject him.
But we're adding in some.
Object to the criteria another ones if a stone has a certain proportion.
If a stone has to certain symmetry if a stone has certain optical qualities it either have to board doesn't so that way.
-- -- we we're just gonna say that that it's gonna be traded went around 2013 yes.
That's for looking for -- we have we're in the discussion right now with them a variety of organizations and we're looking for.
Mid to later 2013 to launch Daniel holograms that TF's futures best of luck to you.
Thanks to some people diamonds are tough sell to other people not tough at all I think in order but thank you very much -- and -- -- -- good luck.
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