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Q Television Network Takes Proactive Steps to Increase Shareholder Value Friday July 29, 3:15 pm ET
PALM SPRINGS, Calif.--(BUSINESS WIRE)--July 29, 2005--Q Television Network (OTCBB Other: QBID), the first 24/7 premium network for the gay and lesbian community, announced today that it will utilize every resource available to get its stock trading at an acceptable level. "We are outraged by the market manipulation and our depressed stock price," said Frank Olsen, President, CEO and Founder of Q Television Network. "The short positions in our stock we believe are overwhelming and we will do everything we can to squeeze those positions and bring our stock to a level it deserves. We have signed multiple carriers, we have increased our subscriber rate above 200% and we are the only 24/7 premium GLBT network in an untapped market. We demand a fair value for our shareholders and they will get it. We are going to implement a full market strategy that we have developed to directly address these manipulation issues."
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I don't think that the shorters will stop until this reaches .000's.
Once it bottoms out and can not be shorted anymore, it will take off, and those who shorted it, will buy it back and ride it back up for more big profits. As long as no one buys the stock on the bid, then the shorters will get shafted. But how can anyone stop everyone from buying this stock on the bid? The shorting cycle just continues. Any thoughts?
They know that there are always people willing to buy the stock due to its following. I hate the pinksheets. Those that are shorting this have come up with a good plan to make cash on this stock. I only wish that people didn't make money on a stock that goes down in price.
Those are my thoughts anyways.
There is One possibility that Q can do, I'll mention it below.
[ July 29, 2005, 17:33: Message edited by: Peaser01 ]
1) Frank has done nothing to stop shorting and I am starting to think he is powerless to do anything about it due to his empty promises to stop it thus far.
2) How and why are penny stocks allowed to be shorted? Is this not illegal?
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quote:Originally posted by treyda: Q Television Network Takes Proactive Steps to Increase Shareholder Value Friday July 29, 3:15 pm ET
PALM SPRINGS, Calif.--(BUSINESS WIRE)--July 29, 2005--Q Television Network (OTCBB Other: QBID), the first 24/7 premium network for the gay and lesbian community, announced today that it will utilize every resource available to get its stock trading at an acceptable level. "We are outraged by the market manipulation and our depressed stock price," said Frank Olsen, President, CEO and Founder of Q Television Network. "The short positions in our stock we believe are overwhelming and we will do everything we can to squeeze those positions and bring our stock to a level it deserves. We have signed multiple carriers, we have increased our subscriber rate above 200% and we are the only 24/7 premium GLBT network in an untapped market. We demand a fair value for our shareholders and they will get it. We are going to implement a full market strategy that we have developed to directly address these manipulation issues."
My guess is that Q may buy back tons of shares on the ask, and then sell them back to investors on the ask at a later time. That would be a temporary solution anyways, and those that are shorting could get completely wiped out.
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Another thought, maybe they diluted it so bad until it got a network signed on, and now they are buying the shares back? That could explain the PR as well.
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this is probably the biggest piece of sh*t in the pinksheet market. qbid is overvalued at .0013, there is no reason for this stock to be trading this high.
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qbids stock prices relfects the fact that qbid just prints up shares every day.... qbid has such a devout following that it should be 20 dollars a share.....
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