Thanks for your input. I enjoy it.
quote:
Originally posted by U4TSAF2:
AS MOST OF YOU KNOW, FRANK OLSEN CONTINUES TO SPEW LIES ON TOP OF LIES ON TOP OF LIES.THE LATEST I RESEARCHED WAS THE APPLICABLE PRINCIPALS OF UPGRADING A STOCK FROM PINKS. AS WORKING IN THE FIELD BEFORE, I UNDERSTAND HOW BB, NASDAQ AND NYSE WORK FOR FILING PURPOSES, BUT HAVING NEVER REALLY DEALT WITH PINK SHEET STOCKS ON A UPGRADE LEVEL SO, I CALLED A FRIEND OF MINE WHO'S A LITTLE BIT MORE KNOWLEDGABLE ON HOW TO UPGRADE A PINK SHEET STOCK AND HERE IS WHAT'S UP.
FRANK OLSEN TELLS US BACK IN 2000 THAT HE'S HIRED A ATTORNEY AND ACCOUNTING FIRM TO UPGRADE THE STOCK FROM THE PINK LEVEL. SO WHY DID THIS NEVER HAPPEN? THE OBVIOUS IS A FLAT OUT LIE; BUT ARE THERE LEGISTIC REASONS FOR THAT AND IN THE CASE OF QBID, WE HAVE BOTH.
FOLLOWING THAT, FEB OF 2004 HE TELLS US QBID HAS 15-BILLION SHARES HE'S DOING A BUYBACK AND UPGRADING THE STOCK.
FOLLOWED BY THIS IN APPROX. SEPT OF 04, IT IS LEAKED THAT FRANK ISSUED 6 BILLION NEW AND ADDED ANOTHER 50-BILLION TO TOTAL QBID OUT TO 71-BILLION SHARES. NOW AFTER FRANK OLSEN ISSUES MORE SHARES, HE ANNOUNCES A 2% BUYBACK. "HEY BUDDY, LET ME BORROW $10 FROM YA SO I CAN PAY YOU THE $10, I OWE YOU"
THERE ARE 50+ REASONS FOR A COMPANY TO BE "DIRTY" AND UNABLE TO UPGRADE AND HERE ARE A FEW APPLICABLE TO QBID:
NO. 1: UPDATING ARTICLES OF INCORPORATION AND BYLAWS TO MAKE THEM CURRENT.
QBID HAS NO ARTICLES OF INCORPORATION IN CALIFORNIA THEIR HOME BASE FOR CORPORATE WORK. NOR DO THEY HAVE ANY IN NY CITY. FURTHER, FRANK OLSEN TELLS US HE HAD RENTAL PROPERTY STUDIO'S ALL ACROSS THE COUNTRY AND IN THOSE LOCATIONS, QBID WAS NEVER REGISTERED FOR BUSINESS. NEVADA MIGHT HAVE SOME BUT CA DOES NOT AND NOR DOES ANY OF THE OTHER PLACES HE SAYS HE HAD STUDIO'S. FURTHER, QBID HAS BEEN NOT PAYING ANY RECORDED CORPORATE TAX IN CA NOR IN ANY OTHER JURISDICTION. IN ORDER TO UPGRADE, ALL THOSE BACK TAXES HAVE TO BE PAID.
NO. 2: CONDUCTING REVERSE SPLITS TO LOWER THE FLOAT AND CANCEL NO LESS THAN 70% OF THE RESTRICTED SHARES/AUTHORIZED SHARES TO INCREASE THE STOCK PRICE.
QBID HAS 71-BILLION SHARES AND IN ORDER FOR BB TO CONSIDER THEM, THEY WILL HAVE TO REDUCE THE TOTAL SHARE COUNT, FLOAT AND RESTRICTED AND AUTHORIZED SHARES TO NO MORE THAN 5-BILLION SHARES AND IT'S PREFERRED THAT LESS THAN 2 BILLION IS HELD IN TOTAL. IN TOTAL MEANS REDUCING THE TOTAL SHARE COUNT OF QBID FROM THE CURRENT 71-BILLION TO 2-BILLION. TOTAL SHARE COUNT, NOT JUST THE FLOAT BUT EVERYTHING COMBINED. SO DO YOU BELIEVE FRANK WHEN HE SAYS "AS LONG AS I'M ASSOCIATED WITH THE COMPANY, NO ROLLBACK OR REVERSE SPLIT WILL TAKE PLACE" IF HE INTENDS TO UPGRADE THE STOCK?
NO. 3: UPDATING REPORTINGS WITH THE SEC OR INITIATE REPORTING FOR THE FIRST TIME.
ZERO REPORTING HAS BEEN DONE WITH THE SEC. FURTHER, ONCE NO. 3 IS COMPLETED, A COMPLETE AUDIT FOR THE PAST 7 YEARS IS DONE.
NO. 4: PUTTING A QUALIFIED BOARD AND/OR MANAGEMENT INTO PLACE.
THE SEC IS GOING TO LOOK INTO ALL THE PEOPLE AND THEIR PAST HIRE'S FOR THIS. QBID HAS HIRED A INDIVIDUAL THAT HAS HAD 2-FAILED COMPANINES AS WELL AS A FEDERAL INDICTMENT FOR FRAUD ON A PREVIOUS START-UP TELEVISION STATION. FRANK OLSEN HAS NOT HAD 17-GAY BARS NOR WAS HE THE CREATER OF SHOWTIME AS HE HAS ELABORATED AND THE LATEST, HE NEVER OWNED A HOTEL.
NO. 5: HOLDING A SHAREHOLDER'S MEETING AND UPDATING REPORTS TO SHAREHOLDERS.
THIS MEANS THE CURRENT SHAREHOLDERS GET A FINANCIAL ABOUT EVERY MORE QBID HAS MADE IN THE PAST 7-YEARS.
NO. 6: UPDATING COMPLIANCE PER 'SOX' BY ADOPTING CORPORATE COMPLIANCE STANDARDS AND A CODE OF ETHICS
THIS IS WHERE FRANK OLSEN CAN'T UPGRADE QBID FOR ANY REASON. WHAT HAPPENS HERE IS THAT EVERY PR RELEASED HAS TO BE ACCOUNTED FOR AND ANY MIS-INFORMATION OR LIES WILL NOT IN ANY SHAPE OR FORM MEET THE 'SOX' STANDARD. FRANK WILL HAVE TO EXPLAIN HOW HE OBTAINED 5-YEAR BROADCAST FINANCING AND THEN A FEW WEEKS LATER, GOT A $2-MILLION DOLLAR LOAN TO SECURE THE FIRST YEAR BROADCAST. HE WILL HAVE TO ANSWER WHY HE KEPT TELLING PEOPLE HE WAS UPGRADING WHEN HE NEVER WAS. WHY THE BUYBACKS, WHY THIS AND WHY THAT, ETC.ETC.ETC.ETC.ETC. AND WITH ALL THAT COMBINED, IT WILL UNDOUBTLY SHOW FRANK OLSEN AS A FRAUD AND NO UPGRADE CAN TAKE PLACE UNLESS FRANK OLSEN IS NO LONGER ASSOCIATED WITH QBID.
NO. 7: UPDATING AUDITS
HERE WE ARE BACK TO THE PREVIOUS 7-YEARS FOR QBID.
"ALL OF THE TIME WITHOUT EXCEPTION WHEN A COMPANY, THAT HAS NO REPORTING AND MOST LIKELY NO REVENUE'S, ANNOUNCES A BUYBACK, IT HAS NO MEANS TO DO SO; HENCE, IS A FRAUD."
WARREN BUFFET