posted
We get more transparency and info about QTN/TMM ongoings through freakin' filed lawsuits than we do from Frankie boy.
Posts: 1124 | From: DC/VA | Registered: Jul 2005
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posted
Frankie boy reminds of the joke of "Rex the Rooster..." He will screw anyone and anything! LOL!
Posts: 1124 | From: DC/VA | Registered: Jul 2005
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-------------------- I don't play well with others, and have a problem with authority. I love to see the big guy fall to the under-dog. Posts: 192 | From: New Jersey - Armpit of the World | Registered: Jul 2005
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posted
hey guys settled lawsuits are a good thing. once these are settled and behind us, we can move on.
$300,000 is not a big deal.
Frank is worth millions.
QBID is worth millions.
yes we will end up absorbing these lawsuits, but with them out of the way, things will get better.
Franks 53% of QBID is worth over $50 million
we are seeing lawsuits of about 6-10% of the company, that is no more then the taxes that it has to pay.
Im still holding. you do what you want.
Thats 3 of them.
rod
-------------------- Dont buy or sell on my opinions, do your research. Make sure you know what you are buying before you buy.
This is a non reporting pink sheet with very high risk. From high risk comes high rewards. Dont invest more then you can afford to lose. Posts: 4801 | From: Prescott, ON, Canada | Registered: May 2004
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posted
Not defending Frankie boy's actions/lies to us, but maybe the reason the audit has been delayed has to do with the pending lawsuites...
Posts: 1124 | From: DC/VA | Registered: Jul 2005
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posted
I would assume that with how big the company is now, with Carol Hinnat, Rassenburg, Withers, etc. they have been talking with Frank and have been telling him it may be time for him to step down. The company is too big, and yes i agree Frank did get this company started, but his time to step down is now.
Bring in a credible CEO from the Street who has experience and allow Frank to continue to be the executive producer of the show.
Settle all of these lawsuits and buyout the Firestone Contract
This company has gotten to big, the time is now Frank.
-------------------- Buy the silence-Sell the noise SFTV.004-.0075 AVNT.0018-.0033 FPPL.0034-.03 WEGI. My new Call Posts: 3100 | From: Louisiana | Registered: Apr 2005
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quote:Originally posted by Doctoall: Nothing to different with the trading pattern this morning
Guess the carriers are ok with it.
And as for the GG Federation, any objections on continuing to do business with Frank will have to wait. Because by now contracts between Q and the GG Federation have certainly been fully executed.
quote:Originally posted by U4TSAF2: CT. 1: BREACH OF CONTRACT
CT. 2: MONEY HAD AND RECIEVED
CT. 3: MONEY LENT
CT. 4: FRAUD
03/08/2004 20 DEFAULT JUDGMENT granted in favor of plaintiff for the amt. of $300,000.00 damages; Costs $100.45; Atty. fees $3,536.50; Plaintiff is awarded interest at the rate of 10% per year fromt he following date to the date of entry of this judgement with notice of entry and cert of mailing RE: Item# 19 [ORA] (Entered: 03/09/2004)
U4...if it will make you feel better, I will hold your hand through it all.
Back to work...later.
Posts: 1236 | From: The Bluegrass State | Registered: Sep 2005
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quote:Originally posted by MillerTIME: I would assume that with how big the company is now, with Carol Hinnat, Rassenburg, Withers, etc. they have been talking with Frank and have been telling him it may be time for him to step down. The company is too big, and yes i agree Frank did get this company started, but his time to step down is now.
Bring in a credible CEO from the Street who has experience and allow Frank to continue to be the executive producer of the show.
Settle all of these lawsuits and buyout the Firestone Contract
This company has gotten to big, the time is now Frank.
I would imagine that there is plenty of discussion taking places regarding how to go public with what we already know. Oh what to tell the shareholders. Once again the basis of this company is great, the concept is sellable, but it's the management that needs to be reorganized.
-------------------- Be Careful Of The Toes We Step On Today, They Could Be Attached To The Butt We Have To Kiss Tomorrow Posts: 4727 | From: Elk Grove ( Sacramento )CA USA | Registered: Jun 2004
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posted
Don't talk to me about proofreading until you learn to spell LAWSUIT, BEFORE, and MANAGEMENT.
quote:Originally posted by Marty: Dude, You obviosly didn't read my ENTIRE response. I read ALL of the lawsuite evidence. I have MASSIVE experience in the business world, from maagement to executive levels. Perhaps you should stop, think, AND proofread befor making such erroneous comments.
quote:Originally posted by Optimus Prime: Dude, why didn't you read the whole document? You obviously must have stopped reading half way through because you obviously didn't read the counter suit or the defense reply.
Some of you people are showing your inexperience in the business world. These law suits come and go. They are settled out of court more than 90% of the time.
And if you think a 3 million dolar law suit is going to push away TWC, Cox, etc, then you really don't understand business. THEY DON"T CARE AS LONG AS MONEY IS COMING IN AND NOBODY HAS COMMITED MURDER OR AN ACT OF TERRORISM. They will care if TMM (NOT QTN) goes under.
I think the person who stated that Frank could reorganize QTN without touching TMM was right on the money (sorry, I can't remember who it was).
Here is something to think about. Wouldn't it be ironic if one of the things people used to bash this stock a while back (QTN not being part of TMM) could be the thing that saves their money from a bankruptcy?
quote:Originally posted by Marty: Pay attention. The allegations in here are serious. Fraud, Breech of Contract, giving funds/stock directly to Firestone executives, etc.....there are NO good things in this if you read it correctly.....JMHO....
quote:Originally posted by Marty: The first 3 pages show Notice of Removal of Defendants, because the suite is over $75k, and the defendants, QTN and Frank Olsen, are in differing jurisdictions. Filed by the defendants.
I wonder if the 16 billion A/S shares increase, went to Firestone as settlement. That is around $5mill at current PPS......JMHO....
-------------------- "True Wisdom Only Comes From Pain"
10.3 Million Shares and Holding Posts: 112 | From: San Ramon, CA | Registered: May 2005
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TWC, Cox, and the others have something more important to worry about other than Q's structure or day-to-day dealings. They better start worrying about what the FCC is requiring them to do if they want to buy Adelphia. They have to modify their channel bundles to insure they are "Family Friendly". For Pay Cable.
It seems that the business model for Q was correct when making it a premium pay service.
-------------------- "True Wisdom Only Comes From Pain"
10.3 Million Shares and Holding Posts: 112 | From: San Ramon, CA | Registered: May 2005
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I could keep going. QBID has been breaking new 52-week lows on a daily basis for the last 6 months. The only solution to answer that is dilution or toxic financing. [/QB]
----------------------------------------- I guess supply and demand dont matter? Because you know, if there are more sellers than buyers, any stock's PPS will retreat.
Posts: 333 | From: Washington, DC | Registered: Nov 2005
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As far as Frank stepping down for reasons of incompetentcy, I don't see that as being a move of his. He would hire someone solid with good business sense and background for opinions and ideas to help if needed. I would assume this lifelong dream would still have him passionate and involved with major changes and growing of the company. Now if were talking health problems possibly caused from stress or so forth, maybe. Or if were talking for reasons of restructuring etc. maybe... But just because he's too ignorant he'll give someone else the reigns and title. I doubt it. As far as the buyback, he may owe many people, but I would think with all the recent things happening with carriers and explosive subscription rates he would be able to find more investors. Probably buying back I think, or will be very soon. Just my opinion of course. only 5 mill and holding.
-------------------- 17.5 mill / Don't sweat the petty stuff, and don't pet the sweatty stuff. Posts: 59 | From: Rockford, il | Registered: Sep 2005
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posted
The lawsuit made for some interesting reading. I especially like the letters from Frank and to Frank. I've got a few of the highlights from these and some questions/ideas on them.
Nov. 11, 2004; Frank to Leonard: "Importantly, our contract with the Gay Games Federation stipulates that we produce a one-hour program pre-promoting the games every month commencing this December."----> Does anyone know if we've actually been doing this? I haven't heard of any programs.
May 26, 2005; Leonard to Frank: "QTN agrees to reisssue unrestricted stock to FCI on the day any new QTN distribution agreement is signed."-----> Does this mean they will issue even more stock for every new carrier? What does reissue mean here?
Same as above: "Upon recapitalization of QTN, 50% of equity granted to you will in turn be granted to Firestone Communications, Inc."----> I'm guessing this is Leonard's way of making sure they get paid even if Frank reorganizes the company?
June 23, 2005; Frank to Leonard: "I have a commitment from Jim this week that they are on board thru 2008. It is co-signed by Morgan Stanley. You need to remember they are only in this for $12 million and I think this year's expenses are going to be $28-30 million. Next year-who knows, but I need to start planning now."----> So who is Jim? Nice to see Morgan Stanley might be involved.
Same as above: "I have a board meeting on July 15th. I call it my listening meeting. I own 53% of it and I control 65% of it."----> Interesting name for a board meeting. So, if he owns 53%, but controls 65%, does that mean we (the little guys) contol 35% of the company? Where did his other 12% come from? I'm guess the investors (Jim, etc.).
July 27, 2005; Frank to Leonard: "As for funding, we have a commitment for funding through 2008. With my company commitment, GEM and others, we have a budget of $2.3 million per month..."----> I'm a little curious to know what his "company commitment" is. I'm guessing this is out of his own pocket.
The August 23rd 2005 agreement is interesting, but I'm not typing it all out. The basis...Q agrees to lift the restrictions on the 500,000,000 shares and agrees to issue addtional "restricted" shares valued at $1.7 million dollars. This all in turn for voiding the "Production Agreement for Daily Live Block of Programming-Morning Show" contract. Both Frank and Leonard signed this agreement, so it must be in place, but I guess Frank might not have honored it.
September 14, 2005; Frank to Leonard: "It was good to see you yesterday, although it distrubed me that we could not be in the room without you and Julie writing everything down. It reminded me of the IRS taking notes on every work I said, but life goes on..."----> This is just funny. I mean how can noone trust Frank?
Sorry for the length. Just my review of the letters and things I found interesting.
quote:May 26, 2005; Leonard to Frank: "QTN agrees to reisssue unrestricted stock to FCI on the day any new QTN distribution agreement is signed."-----> Does this mean they will issue even more stock for every new carrier? What does reissue mean here?
I believe this means that if QTN switches their distributor from Firestone to another company, Firestones restricted QBID shares must be immediately transfered into freely tradeable shares (i.e. a one time only thing)
Posts: 369 | Registered: Dec 2005
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posted
It would be nice to get another carriage PR today as a courtesy, just to take the edge off of things. We know where some of the restricted shares have been hiding. Can only guess where the other 18 bil are till info leaks out, either thru a suit or imakmoney imakes a visit to Q or audit is released.
Posts: 4245 | From: SMALLVILLE USA | Registered: May 2004
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posted
Well it's a pretty safe bet that other deals have been made with QBID stock.
One possibility: Other companies have recieved large blocks of unrestricted stock as payment (or restricted that was later converted to unrestricted). Having watched the steady decline, they have seen the amount of their payment for the work they've done dry up, and have decided to get what they can before it drops to .0001. Also, if they dump before the end of the year it's a heafty tax write off. This would explain the blocks we've seen in the hundreds of millions.
quote:Originally posted by g-invest: The only solution to answer that is dilution or toxic financing.
Two things explain it: dilution and toxic financing. [/QB]
---------------------- It is also very likely--after perusing the documents--the The Q offered its stock in lieu of cash payment. This isnt dilution or toxic financing at all.
He is using stock as a form of payment for goods and services. Presumably he is getting value from these types of transations that, in turn, increase the overall value of The Q.
We really do need an audit to show the actual value of what The Q is worth.
Posts: 333 | From: Washington, DC | Registered: Nov 2005
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posted
If I were in a lawsuit and owed that kind of money, the last thing that I would be doing is releasing an audit, that shows my worth.
-------------------- Be Careful Of The Toes We Step On Today, They Could Be Attached To The Butt We Have To Kiss Tomorrow Posts: 4727 | From: Elk Grove ( Sacramento )CA USA | Registered: Jun 2004
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Posted by: lobogotti In reply to: ihubposter who wrote msg# 197746 Date:12/14/2005 3:03:39 PM Post #of 197753
you read my mind, i sent him your exact thoughts on Monday, no response.
From: clayton*mynetwire.com Sent: Mon, 12 December 2005 22:36:51 To: staff*equityrelations.com Subject: Previous Lawsuits
Richard,
Below, there are 70 unique court cases against Frank Olson/Frank Olsen/Traingle Broadcasting/Triangle Multi Media/Triangle Television/Palm Springs Television/Co-Media and one of him suing someone else.
This is all public knowledge, and in my opinion some very bad things are mentioned. Nobody seems to know about these things, and that just baffles me.
I find it odd that I couldn't find one case that Frank actually won and only one case in which he was the Plaintiff. Actually, there are a lot of bench warrants that are issued.
Over a million dollars in judgements and a bankruptcy of TMM and Olsen to boot, looks like when he didn't want to pay, that was the next step. Just my opinion of course.
Keep in mind, this is just Indio County. I have many more from other parts of the state, et. al country. I have copies of everything, so if you are having trouble locating these, please let me know.
Keep in mind, it is my right to have these, as it is public knowledge. Just as it is the right of every shareholder as well.
I don't think you were privy to this stuff, so I attached the link where you can view for yourself.
All you need do is search in Indio Civil for these. Just use the names and companies for searching as listed above.
-------------------- Be Careful Of The Toes We Step On Today, They Could Be Attached To The Butt We Have To Kiss Tomorrow Posts: 4727 | From: Elk Grove ( Sacramento )CA USA | Registered: Jun 2004
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quote:Originally posted by g-invest: The only solution to answer that is dilution or toxic financing.
Two things explain it: dilution and toxic financing.
---------------------- It is also very likely--after perusing the documents--the The Q offered its stock in lieu of cash payment. This isnt dilution or toxic financing at all.
He is using stock as a form of payment for goods and services. Presumably he is getting value from these types of transations that, in turn, increase the overall value of The Q.
We really do need an audit to show the actual value of what The Q is worth. [/QB]
My post above was a response to the same quote.
It's seems like the most rational, non-doomsayer explanation, and those companies have been dumping for the write-off.
Like it or not, he'll eventually have to work to get the PPS back up if he wants to keep using it to seal deals.
Posts: 369 | Registered: Dec 2005
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posted
IMO at this point it really is not about QTN it's all about the inability of Frank Olson to make this happen.
The concept is great, the market is crying for this type of programming, the GBLT is behind the success of this network.
It is Frank who is bringing the black cloud over the entire success of this venture.
I say settle with Firestone, settle with the Bishop,pay any other leins or debts, dump Frank do a R/S if we have to, and then let's get on with it.
It's a shame that a great project has to be bleed to death by one person. The only reason that this venture will fail is Frank Olson. Otherwise this has a huge potential.
-------------------- Be Careful Of The Toes We Step On Today, They Could Be Attached To The Butt We Have To Kiss Tomorrow Posts: 4727 | From: Elk Grove ( Sacramento )CA USA | Registered: Jun 2004
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p 22 35. 5/26/05 Firestone and QTN agreed to 3 specific terms: 1) QTN agreed to reissue unrestricted stock to Firestone on the day of any new QTN distribution agreement is signed. 2) Olsen agreed to give Firestone 50% of his equity in QTN once QTN was recapitalized, and 3) QTN agreed that Firestone would be the co-producer of the "Gay Games" with a budget of up to $7,000,000.00. Exhibit F.
p 25 47. 8/23/05 "Production Agreement for Studio, Equipment, & Crew" where QTN agreed to pay Firestone $3,421,250.00 to produce additional programming. Exhibit J
p 26 48. At the last minute before this new agreement was signed, however, Olsen insisted that the contract be between Firestone and a company called "Franklyn Broadcasting" and not QTN. Olsen insisted that the contract be changed to replace "QTN" with this other entity:"Franklyn". Olsen said that the contract needed to be with Franklyn because the production work would be for the new network Olsen was starting to target the Native-American community. Olsen told Firestone that he had secured $3 million in federal funding from the Bureau of Indian Affairs, which would serve as seed money for the launch of this network.
p 26 49. Franklyn Broadcasting, Inc. When negotiating the Agreement, Olsen told Firestone's representatives that Franklyn was one of "his" corporations for personal holdings. Firestone has since learned that Franklyn Broadcasting is not a corporation in good standing. ...the records of the Washington Secretary of State reveal that Franklyn Broadcasting was dissolved in 1998.
p 27 52. September 2005 Firestone signed a "Transponder and Services Agreement" with "Frank Olsen and FTP Corporation, Inc." This agreement provided for the leasing of additional transponder capacity from Firestone's satellite and Olsen represented that he was C.E.O. of yet another company, Liquidation by Satellite, a division of Triangle Multimedia, Inc. Olsen claimed that he needed to lease this additional bandwidth pursuant to an agreement he had reached to provide communications services to F.E.M.A. in the wake of Hurricane Katrina. AFTER signing this agreement, Olsen stated "I want to sign this agreement, but I would like you to put aside the old agreements...." Firestone never agreed to "put aside" the old agreements.
FTP CORPORATION ...wa sos lists BART SEIDLER as 'all officers'
UBI Number 601 854 679 Category Regular Corporation Profit/Nonprofit Profit Active/Inactive Active State of Incorporation NV Date of Incorporation 02/11/1998 License Expiration Date 02/28/2006
Registered Agent Information Agent Name JIM DENTON Address 1301 5TH AVE #2600 City SEATTLE State WA ZIP 98101
December 16, 1998 On February 4, 1998, an application was filed seeking Commission approval of the assignment of Station KBRO from WBM to FTP Corporation (File No. BAL-980204EH). Fred Lundgren, the former president of WBM, filed a petition to deny the application. He alleged that he had entered into an agreement with Triangle Broadcasting Co., Inc. ("Triangle") for the transfer of control of WBM to Triangle and that Commission approval had not been obtained for that transaction.
FORFEITURE ORDER Adopted: August 10, 2004 -- Released: August 12, 2004
monetary forfeiture in the amount of three thousand two hundred dollars ($3,200) to FTP Corporation (``FTP''), licensee of Radio Station KNTB-AM (``KNTB'') in Lakewood, Washington, for repeated violation of Section 73.1745 of the Commission's Rules (``Rules.'')1 The noted violation involves FTP's failure to operate Station KNTB in accordance with the Station's authorized power and hours of operation.
quote:Originally posted by Doctoall: IMO at this point it really is not about QTN it's all about the inability of Frank Olson to make this happen.
The concept is great, the market is crying for this type of programming, the GBLT is behind the success of this network.
It is Frank who is bringing the black cloud over the entire success of this venture.
I say settle with Firestone, settle with the Bishop,pay any other leins or debts, dump Frank do a R/S if we have to, and then let's get on with it.
It's a shame that a great project has to be bleed to death by one person. The only reason that this venture will fail is Frank Olson. Otherwise this has a huge potential.
It's kind of hard to dump someone who owns the majority. I'm sure Frank will try to ride this dead horse to the bankruptcy court and then sell it as hamburger to some unexpecting soul.
Posts: 1271 | From: Sincinnati , Ohio | Registered: Feb 2005
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