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Author Topic: QBID: GETTERDONE
Ric
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Q Television Network Retires One Billion Shares
Business Wire - December 14, 2004 10:30

PALM SPRINGS, Calif., Dec 14, 2004 (BUSINESS WIRE) -- Q Television Network, (Pink Sheets: QBID) announced today that its CEO, Mr. Frank Olsen, will retire 1,000,000,000 shares of his personal QBID stock.

Q Television's board of directors has agreed to retire the QBID shares to the treasury. The 1,000,000,000 shares are QBID common stock. Mr. Olsen will retain voting rights and a long term conversion provision. The retirement of the stock will occur in pre-set blocks over the next two months.

"This non-dilutive measure will bring an increased value to our shareholders," said Olsen. "We have negotiated and put contracts into place to ensure longevity for our network and, as this occurs, we will take steps to bring value to our shareholders."

About Q Television Network

This television network was organized to create and develop a network devoted to providing television programming for the gay and lesbian community. While the company expects much of its subscriber base to be comprised of members of the gay and lesbian population, management also believes that quality programming about the gay and lesbian experience, designed to entertain, educate and inform, will attract many other segments of the viewing public. The company's programming will be available on a subscription basis to those desiring its programming. The network will broadcast 24 hours per day, 7 days per week. Providing distribution via satellite ensures availability of the network across the United States, including Alaska, Hawaii and Puerto Rico. For further information on programming and subscriptions, please visit www.qtelevision.com.

Safe Harbor Statement

As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; the television network's ability to execute its business model and strategic plans; and the risks described from time to time in the company's Securities and Exchange Commission filings.

SOURCE: Q Television Network

CWR & Partners, LLP
Ronnie Welch, 508-222-4802
Ronnie@cwrpartners.com

Copyright (C) 2004 Business Wire. All rights reserved


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Doctoall
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There is not much going on over in the Q chat either. I think that it will be a slow time until we get another PR. Looks like the pps is not going to do much either until we get another PR

GO QBID!!!!! Bring On The Green

------------------
"If We Agree To Disagree, Then We Can Remain friends"


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Ric
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I bet there will be now. Frank retires 1 Billion of his own shares.


quote:
Originally posted by Doctoall:
There is not much going on over in the Q chat either. I think that it will be a slow time until we get another PR. Looks like the pps is not going to do much either until we get another PR

GO QBID!!!!! Bring On The Green



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Doctoall
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Now there is a PR, let see what happens
The PR does state that contracts have been put in place to protect the longevity of the "Q" HE HAW Bring It On
------------------
"If We Agree To Disagree, Then We Can Remain friends"

[This message has been edited by Doctoall (edited December 14, 2004).]


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dinger51
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Good morning. Good news and an even more positive future. Wish I had more.

One Day until VEGAS...I have a couple for the team!

------------------
Thank God For Qbid


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Boletus
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Yay!!! I could not be happier with that PR. That should reduce our OS by 6-10%. Now what was the modest amount of the buyback?
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sunny
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Hello everyone!! I've been seeing a lot of new members....WELCOME!

I miss chatting with you guys. Those of you with children will understand...but I've been insanely busy with family, school projects and Christmas, so I've been lurking for a while.

I was trying to put this QBID press release in to perspective....Perhaps Ric can offer insight on this pr about Frank retiring shares....Are these shares currently in the float that we trade? Or are these shares some of the 50 billion authorized? Just wondering how this will effect the movement of QBID.

Hope all of you are doing well.

LilPenny, hope your little girl is doing better with the operation you mentioned the other day...been wondering about you and your family. Keeping you in my thoughts...you too Ric!!!

Take care....Happy Holidays!

P.S. Clyde, you tired of diaper changes yet? LOL My two little ones seem to have a colon competition going on...Absolutely horrific, I tell ya...swear they are tag-teaming to keep me changing diapers...LOL Take care.

QBID 0054.


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lilpennypincher
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Definately a very pleasant surprise..
Thanks Frank.....Great Job.

Lil


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Penny-Trader
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Q Television Network Retires One Billion Shares
12/14/2004 10:30
Q Television Network, (Pink Sheets: QBID) announced today that its CEO, Mr. Frank Olsen, will retire 1,000,000,000 shares of his personal QBID stock.

Q Television's board of directors has agreed to retire the QBID shares to the treasury. The 1,000,000,000 shares are QBID common stock. Mr. Olsen will retain voting rights and a long term conversion provision. The retirement of the stock will occur in pre-set blocks over the next two months.

"This non-dilutive measure will bring an increased value to our shareholders," said Olsen. "We have negotiated and put contracts into place to ensure longevity for our network and, as this occurs, we will take steps to bring value to our shareholders."

About Q Television Network

This television network was organized to create and develop a network devoted to providing television programming for the gay and lesbian community. While the company expects much of its subscriber base to be comprised of members of the gay and lesbian population, management also believes that quality programming about the gay and lesbian experience, designed to entertain, educate and inform, will attract many other segments of the viewing public. The company's programming will be available on a subscription basis to those desiring its programming. The network will broadcast 24 hours per day, 7 days per week. Providing distribution via satellite ensures availability of the network across the United States, including Alaska, Hawaii and Puerto Rico. For further information on programming and subscriptions, please visit www.qtelevision.com.


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Ric
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Sunny,

The shares are not part of the float, now the buyback shares were but not Franks share. The are part of the O/S and it will decrease O/S by one billion shares.

Also since Frank is retiring 1 Billion shares I really think the buyback was 1 billion shares too. It would make sense for frank to retire as many shares as buyback shares. This wil do more for the perception of the stock then the actual pps because it does not effect float but it does effect the mind of the shareholders that the company is reducing overall O/S and working to help the stock price and the shareholders of the company.

Ric


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sunny
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Ric,

Very good points! Thanks for your perspective. Makes a lot of sense.

Hope you are having a good day!


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lilpennypincher
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quote:
Originally posted by sunny:

LilPenny, hope your little girl is doing better with the operation you mentioned the other day...been wondering about you and your family. Keeping you in my thoughts...you too Ric!!!

Take care....Happy Holidays!


QBID 0054.


Sunny,
Thanks..She is doing great this morning.
Like it never happened.
By the way..While you're out shopping...would you mind finishing up mine for me.
LOL
Have fun...

Miss your posts.

Lil


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bill1352
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afternoon ppl...good news & a pps dip...lol don't we just love it...lol..now i know ric & maybe a few other will disagree but if what i was told by the invester relations dept. is correct. that news does really help. 1 billion from the float in buy back (if thats the right number) the 6 billion for the loan never see's the light of day & it probably won't, frank still has about 5 billion the would leave about 2 billion in the float & i'm sure other insiders own shares that will be removed from final float numbers if they report.

was told o/s = 15.5 billion
the loan had 6 billion
that leaves 9,5 billion
frank had 5.5 billion
buy back 1 billion?
frank retires 1 billion
o/s after frank retires 13.5 billion?
6 billion loan gets paid
o/s 7.5 billion??
minus franks float = 3.5 billion
other insiders shares ???

if they become reporting we could be seeing a float of less then 3 billion figuring insiders hold more then 500 million. of course this only effects those holding a yr or so.

[This message has been edited by bill1352 (edited December 14, 2004).]


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MW
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fly please come to the investor chatroom if you have time ty
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Bryan_J
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quote:
Originally posted by MW:
fly please come to the investor chatroom if you have time ty


So is that where everyone is????? Can someone post the link please....

thanks, Bryan


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Ric
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quote:
Originally posted by Ric:
They split the chat rooms, The old one is for Qlive the new one is at

http://pub35.bravenet.com/chat/show.php/2933064910



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Bryan_J
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quote:
Originally posted by Ric:


Crap! The firewall here at my office will not let me connect to the chat.....

Oh well, thanks for the link.

Bryan


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BT
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Ok, Crystal Ball says....

First lets take you back a few posts.

Posted by: BigTips
Date:12/8/2004
Post #of 44826

"Place your buy orders now."

Next Day Up 46% as a day high. Closed 31% positive.

Posted by: BigTips
Date:12/10/2004 7:43:32 PM
Post #of 44827

"We'll see next week.
Monday Negative, and Tuesday Positive. We'll be Gold."

Monday Down 1.85%.

Posted by: BigTips
Date:12/13/2004 4:27:15 PM
Post #of 44831

"Not the close we needed"

Posted by: BigTips
Date:12/13/2004 7:36:30 PM
Post #of 44827

Perhaps another close negative tomorrow and then a move up will count in my books.

Today we closed Negative.

Give me few hours to see tomorrow.



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whizknock
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Most impotantly, even more important to me than Frank decreasing O/S is the fact that once again he's living up to his word & can be counted on to do what he tells us he intends to do. In the future that will be very important when he's giving WallStreet earnings guidance.

http://biz.yahoo.com/bw/041214/145525_1.html

"All we ever had to do is launch!"

------------------
whizknock


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River
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quote:
Originally posted by Ric:
Sunny,

The shares are not part of the float, now the buyback shares were but not Franks share. The are part of the O/S and it will decrease O/S by one billion shares.

Also since Frank is retiring 1 Billion shares I really think the buyback was 1 billion shares too. It would make sense for frank to retire as many shares as buyback shares. This wil do more for the perception of the stock then the actual pps because it does not effect float but it does effect the mind of the shareholders that the company is reducing overall O/S and working to help the stock price and the shareholders of the company.

Ric



Hey Ric,
Just wondered why you thought it would make sense for Frank to retire as many shares as the buyback. I couldn't really think of a good reason why you thought that so thought I'd ask.

Let me know what you think...
~River~

(weren't the retired shares his personal ones...which would not be the same as those bought back?)

[This message has been edited by River (edited December 14, 2004).]


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Boletus
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Friends I found a new QBID chat. Is there anyway to keep spanky from finding out?
http://money.mwusa.net/modules.php?name=SPChat

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tqn
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brighter days are ahead in jan http://www.thebullandbear.com/articles/2004/0304-geist.html
There is nothing inherently wrong with short selling. As you can see from the example, it helps to correct the excesses in the market. The problem arises when short sellers use a scheme called naked short selling to effect their transactions. Naked short selling is a technique whereby you sell short without borrowing the stock. In this way short sellers can sell as much as they want with no accountability for returning the stock. This ability to "fail to deliver" the stock creates havoc in the micro-cap market. In particular shorts can pick on small emerging companies and drive their stock to zero, thus preventing capital raising and frightening other longs in the stock to abandon their position, not based on the fundamentals, but only on the manipulation of the stock. Obviously when you see your stock price plunging, you are most likely to sell first and ask questions later. Shorts were able to get away with this practice because only those firms that were NASD members were required to comply with delivery rules.
There are many groups, such as Canadian brokerage firms, Specialists, options players, who are not NASD members, and therefore do not have to comply with the NASD rules that require members to assure delivery of stock by the settlement date. For example, if you open a brokerage account at a Canadian firm, they are allowed to keep open "fail to deliver" orders on their books. A short selling group trading through a Canadian brokerage firm literally can get away without delivering their shares. In Canada, previous to the new regulation, investors were not required to borrow stock before selling it short.

The Initial Solutions


This is all coming to an end, however, as the NASD is instituting a rule, which takes effect on April 1, 2004 requiring NASD firms to treat non-member broker dealers in the same fashion as members regarding delivery of shares sold through US registered broker dealers. In addition the SEC has proposed Regulation SHO.
"Proposed Regulation SHO would, among other things, require short sellers in all equity securities to locate securities to borrow before selling, and would also impose strict delivery requirements on securities where many sellers have failed to deliver the securities. In part, this action is designed to address the problem of "naked" short selling."
With some expectations for market makers and specialists, the SEC has stated,
"Proposed Rule 203 would prohibit a broker-dealer from executing a short sale order for its own account or the account of another person, unless the broker-dealer, or the person for whose account the short sale is executed (1) borrowed the security, or entered into an arrangement for the borrowing of the security, or (2) had reasonable grounds to believe that it could borrow the security so that it would be capable of delivering the securities on the date delivery is due."
We've watched a number of companies be destroyed by illegal shorting practices, and it is a welcome relief that new rules will at least help control what has been as practice clearly detrimental to retail investors as well as small companies.


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Ric
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Because Frank wants to maintain majority ownership. Lets say Bill is right and Frank owned 53% of 9.5 Billion shares. That means he owns 5 Billion and float is 4.5 Billion. If Frank reties 1 Billion shares that means he now has 4 Billion shares so to still maintain the majority of shares then Float had to be reduced by more then 500 Million. So If Frank retires use above figure then he now has 4 Billion shares and if buyback was 1 Billion then float is 3.5 Billion given Frank a majority ownership. Thats my reasoning but don't know if any of the numbers are true but is an example.

Ric


quote:
Originally posted by River:

Hey Ric,
Just wondered why you thought it would make sense for Frank to retire as many shares as the buyback. I couldn't really think of a good reason why you thought that so thought I'd ask.

Let me know what you think...
~River~

(weren't the retired shares his personal ones...which would not be the same as those bought back?)

[This message has been edited by River (edited December 14, 2004).]



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Penny-Trader
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makes sence to me Ric i think you are on the right path. it would be nice though if they would confirm the numbers though.

to get rid of the misconceptions.

Rod


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River
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quote:
Originally posted by Ric:
Because Frank wants to maintain majority ownership. Lets say Bill is right and Frank owned 53% of 9.5 Billion shares. That means he owns 5 Billion and float is 4.5 Billion. If Frank reties 1 Billion shares that means he now has 4 Billion shares so to still maintain the majority of shares then Float had to be reduced by more then 500 Million. So If Frank retires use above figure then he now has 4 Billion shares and if buyback was 1 Billion then float is 3.5 Billion given Frank a majority ownership. Thats my reasoning but don't know if any of the numbers are true but is an example.

Ric,
Not to belabor the point, but ... I understand what you are saying but don't believe that the math in any way suggests or requires that an EQUAL amount be retired as what was bought back. Also, the PR states that while 1 billion shares were retired, FRANK MAINTAINED VOTING RIGHTS...so I don 't think he needs the majority of shares anymore as long as he maintains voting rights of his shares PLUS his retired shares (so he still has the majority on voting rights). It's all about voting rights, no matter how some of the numbers play out.

IMO, it's possilbe that one billion were bought back, but any other number (within reason) is just as possible as far as what we know.

Just a thought.

Keep up the great posts, Ric!
~River~

[This message has been edited by River (edited December 14, 2004).]


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Dillinger1976
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Hi guys. I have never posted here before. I have been watching from the sidelines for a long time now. I just want to say that this is the best qbid board on the net. I have been in qbid for a little while now (since 0.0018, before the first run to 0.028). I did sell once to take out the money I first invested in qbid. I have been riding my free shares since then. I was wondering if anybody would have a link to the conference call that was held in October. I'm pretty sure Frank said they were 60% done buying back 2% of the A/S which would be 1 billion stocks. I would like to confirm that. If this is true, it would bring the float down to about 3 billion stocks like ric said. I would also like to say that I have been very happy with the company lately. I think that they are doing all the right moves. I think It's only a matter of time before we are in the 0.01-0.03 range again.
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Ric
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River,

Really never stated it was a fact but it did say in CC that buyback was at 600 Million and they were buying another 400 million over the next few weeks. Thats were the assumption took place in my theory.

Ric


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Dillinger1976
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Well rick you kind of answered my question by answering River's question. Thanks!!

Dillinger.


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Penny-Trader
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go back and read the CC rene directly stated that the buy back would be 1 billion shares.

thats what we have to go on they said that number in the cc they said that number in the pr i can only assume they said what they ment


quote:
Originally posted by River:
Ric,
Not to belabor the point, but ... I understand what you are saying but don't believe that the math in any way suggests or requires that an EQUAL amount be retired as what was bought back. Also, the PR states that while 1 billion shares were retired, FRANK MAINTAINED VOTING RIGHTS...so I don 't think he needs the majority of shares anymore as long as he maintains voting rights of his shares PLUS his retired shares (so he still has the majority on voting rights). It's all about voting rights, no matter how some of the numbers play out.

IMO, it's possilbe that one billion were bought back, but any other number (within reason) is just as possible as far as what we know.

Just a thought.

Keep up the great posts, Ric!
~River~

[This message has been edited by River (edited December 14, 2004).]



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Penny-Trader
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i want to start a discussion hopefully we can get an answer to this.


in todays pr they stated that they would retire the 1 billion shares in preselected blocks over the next 2 months.


what im trying to figure out is why the blocks and why 2 months. what is the advantage of this? Tax reasons, to stretch it in to 2 fiscal years?

I cant imagine that there is a fee that they are trying to avoid as they are not reporting and the shares are being retired into thier treasury.

would this be for the sake of stretching out more PR's on the buy back anr retirement?

anyone that has a educated answer to this please explain this one.

what has me wondering is what the daytraders seen in between the lines of this pr that the price did not move significantly on this news. I thought thatt this was a pretty significant pr.

Rod


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Ric
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Well I think your partly right, Since no income this year, why retire shares this year. I would think they have plenty of write offs for this year and don't need any more. But then to I think this gets media exposure over the next two months. PR after PR's worth, Giveing pps a boost when it needs it. I can see pps dropping when a PR comes out saying the first 200 million is retired, then the next for another 200 Million and so on, I would do it that way. Any media exposure is good for us. What pink sheet does the owner retire shares to increase pps. This type of PR is like gold so why not squeeze every little drop out of it.

Ric


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thanks Ric that make sence. could very well be the case.

Rod


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River
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thanks Ric and Penny for the additional info regarding buyback.

As for retiring shares in blocks...I liked Ric's answer. It seems that by doing it in blocks he can take exactly the tax benefits he wants for 2004 and for 2005. (I think very likely much is saved for '05, but perhaps he wanted to put the PR out now for some reason)

~River~

(in all honesty, though, I haven't a clue...)


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"This non-dilutive measure will bring an increased value to our shareholders," said Olsen. "We have negotiated and put contracts into place to ensure longevity for our network and, as this occurs, we will take steps to bring value to our shareholders."

All I can say is "BLING BLING"

Go Q!!!!!!!!
Daddy needs a new plane!


Posts: 2201 | From: Tampa | Registered: Nov 2004  |  IP: Logged | Report this post to a Moderator
U4TSAF2
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PER FRANK OLSEN:

Q Television Network, (Pink Sheets: QBID) announced today that its CEO, Mr. Frank Olsen, will retire 1,000,000,000 shares of his personal QBID stock.
Q Television's board of directors has agreed to retire the QBID shares to the treasury. The 1,000,000,000 shares are QBID common stock. Mr. Olsen will retain voting rights and a long term conversion provision. The retirement of the stock will occur in pre-set blocks over the next two months.

"This non-dilutive measure will bring an increased value to our shareholders," said Olsen. "We have negotiated and put contracts into place to ensure longevity for our network and, as this occurs, we will take steps to bring value to our shareholders."


NO. 1: THERE IS NO BOARD OF DIRECTORS FOR QBID. FRANK OLSEN IS IT. THAT IS A CONTINUED/REPEATED LIE FRANK THE FRAUD OLSEN PUTS OUT.

NO. 2: THERE IS NO "RETIREMENT" PROVISION. FURTHER, THERE IS NO REASON WHAT-SO-EVER TO "RETIRE" THIS IN "BLOCKS" FOR THE NEXT FEW MONTHS. IT'S WORDING BULLCRAP FRANK THE FRAUD IS USING.

NO. 3: LONG TERM CONVERSION PROVISION IS HULARIOUS. IN NON-DRUNKEN STOOOPER THIS MEANS HE CAN SELL THEM WHEN-EVER HE WISHES. SO NO SHARES ARE BEING CANCELLED AND NOTHING IS BEING DONE.

THIS IS LIKE: "HEY FOLKS, I'M GONNA ISSUE 56-BILLION SHARES TO TOTAL QBID OUT AT 71-BILLION AND THEN ANNOUNCE A BUYBACK" I'M SUCH A COOL GUY. HEY, CAN I BORROW $10 FROM YA SO I CAN PAY YA BACK THE $10 I OWE YA?

FURTHER, IF SHARES OF STOCK WERE TRULY CANCELLED IN THE FRANK THE FRAUD PORTFOLIO, IT WOULD DO NOTTA FOR QBID BECUASE IT'S THE FLOAT THAT IS TRADED AND NOT FRANKS PERSONAL PIGGY BANK.

FRANK IS GOING TO BRING VALUE TO SHAREHOLDERS IS HULARIOUS AND THIS IS A NON-DILUTIVE WAY IS BETTER. PLEASE FRANKIE FRAUD, HOW WOULD IF YOU DID IN FACT CANCEL OUT SOME OF YOUR SHARES, HOW THAT COULD EVER DILUTE THE EXISTING SHARE/FLOAT TRADING? I GUESS A FEW BEERS AND I'LL UNDERSTAND THAT ALSO.

WAY TO GO FRANKIE FRAUD.

82-BOTTLE OF BEER ON THE WALL <BURP>


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