posted
Now for a more serious post. I don't think Frank himself has been diluting. I think this has been the result of the financing that he said he had in place a long time ago. He might not have had a choice in increasing the A/S and he might have to do so again.
Here is a sample of how convertible debentures can hurt the pps of a company. This is from a reporting company that had to use the same type of financing.
"(g) Adjustable Conversion Price Feature of Debentures Could Require the Issuance of Greater Number of Shares.
The Company's obligation to issue shares upon conversion of the convertible debentures to Golden Gate Investors, Inc. (see Liquidity and Capital Resources, below) is essentially limitless. The following is an example of the amount of shares of GameZnFlix common stock that are issuable upon conversion of the convertible debentures (excluding accrued interest), based on market prices 25%, 50% and 75% below the market price as of November 10, 2005 of approximately $0.01:
Number % of % Below Price Per With Discount of Shares Outstanding Market Share at 18% Issuable Stock
25% $0.0075 $0.0060 2,735,000,000 73.90%
50% $0.0050 $0.0040 4,110,000,000 80.97%
75% $0.0025 $0.0020 8,235,000,000 89.50%
As illustrated, the number of shares of common stock issuable upon conversion of the convertible debentures will increase if the market price of the stock declines, which will cause dilution to the existing stockholders.
(h) Adjustable Conversion Price Feature of Debentures May Encourage Short Sales.
The convertible debentures issued to Golden Gate Investors, Inc. are convertible into shares of Company common stock at an 18% discount to the trading price of the common stock prior to the conversion. The significant downward pressure on the price of the common stock as the selling stockholder converts and sells material amounts of common stock could encourage short sales by investors. This could place further downward pressure on the price of the common stock. The selling stockholder could sell common stock into the market in anticipation of covering the short sale by converting their securities, which could cause the further downward pressure on the stock price. In addition, not only the sale of shares issued upon conversion or exercise of debentures, warrants and options, but also the mere perception that these sales could occur, may adversely affect the market price of the common stock.
(i) Issuance of Shares upon Conversion of Debentures and Exercise of Warrants.
The issuance of shares upon conversion of the convertible debentures issued to Golden Gate Investors, Inc. and exercise of warrants may result in substantial dilution to the interests of other stockholders since the selling stockholder may ultimately convert and sell the full amount issuable on conversion. Although the selling stockholder may not convert their convertible debentures and/or exercise its warrants if such conversion or exercise would cause them to own more than 9.9% of Company outstanding common stock, this restriction does not prevent the selling stockholder from converting and/or exercising some of its holdings and then converting the rest of its holdings. In this way, the selling stockholder could sell more than this limit while never holding more than this limit. There is no upper limit on the number of shares that may be issued which may have the effect of further diluting the proportionate equity interest and voting power of holders of the common stock.
(j) If Stock Price Declines, the Company May Be Required to File A Subsequent Registration.
Based on the Company's current market price and the potential decrease in its market price as a result of the issuance of shares upon conversion of the convertible debentures issued to Golden Gate Investors, Inc., the Company has made a good faith estimate as to the amount of shares of common stock that it is required to register and allocate for conversion of the convertible debentures. In the event that the Company's stock price decreases, the shares of common stock the company has allocated for conversion of the convertible debentures and are registering hereunder may not be adequate. If our shares allocated to the registration statement are not adequate and the company is required to file an additional registration statement, we may incur substantial costs in connection with the preparation and filing of such registration statement.
(k) Repayment of Debentures, If Required, Would Deplete Available Capital.
The convertible debentures issued to Golden Gate Investors, Inc, are due and payable, with 4 3/4% interest, three years from the date of issuance, unless sooner converted into shares of common stock. In addition, any event of default could require the early repayment of the convertible debentures at a price equal to 125% of the amount due under the debentures. The Company anticipates that the full amount of the convertible debentures, together with accrued interest, will be converted into shares of its common stock, in accordance with the terms of the convertible debentures. If the Company were required to repay the convertible debentures, we would be required to use limited working capital and/or raise additional funds. If the Company were unable to repay the debentures when required, the debenture holders could commence legal action against the Company and foreclose on assets to recover the amounts due. Any such action may require the Company to curtail or cease operations.
*************This is from another company, NOT QBID, but it is a common form of financing in penny land and could explain a lot of the past year.*********************
[ February 04, 2006, 17:42: Message edited by: HossTrader ]
-------------------- I just want to make enough money to be eccentric. Posts: 2412 | From: Atlanta | Registered: Aug 2005
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-------------------- Sometimes the poorest man leaves his children the richest inheritance. Posts: 804 | From: Woodbridge, Va | Registered: Aug 2005
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posted
Now imagine if Frank had signed an agreement similar to the one above.
That would mean that.... Frank told the truth! But didn't share the results with us!!
1. He DID get long term financing! 2. They might have investigated short selling and found out it was from their creditors and they couldn't do anything about it. (It wasn't "naked" they could get the shares to cover it) 3.He has NOT been selling shares 4.He very well could have retired a billion shares, but he couldn't stop the creditors from unloading shares. 5.If they still have more shares to unload, it would make sense not to release the audit as it might make things even worse. 6.It would be reasonable for them last spring to NOT KNOW the existing share count as it would be determined by how much of their debt had been converted. 7. It would also explain all of the after hours transactions if the creditors are converting their debt lately. 8.It would also mean that Frank was forced to raies the a/s to cover the agreement. He didn't ask shareholders because his hands were tied.
-------------------- I just want to make enough money to be eccentric. Posts: 2412 | From: Atlanta | Registered: Aug 2005
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posted
That is what seems to have happened/is happening. It explains the pps, the huge dumps, the increases in the a/s and also leaves room that Q was not in fact lying about everything.
What do you think?
-------------------- I just want to make enough money to be eccentric. Posts: 2412 | From: Atlanta | Registered: Aug 2005
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posted
Hoss...wouldn't the company that the Q signed the agreement with have to file with the sec when they sold their holdings??
and the Q site has removed the pr stating the hiatus
-------------------- Sometimes the poorest man leaves his children the richest inheritance. Posts: 804 | From: Woodbridge, Va | Registered: Aug 2005
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quote:Originally posted by HossTrader: My Dad can kick all of your dads' butts!!
nuuuu uhhhhhhhh
That's it!! You and me!! I am calling you out!! No more mister nicey nice!!
come on put um upp put em uuuuppp.. ooo uhhh move like a be sting like a fly uhhh ooo.. haaa .... come on lets see whats you gots...
-------------------- M.M. Semester #3 started,Only 7 more semesters to go. Why, in an age where information is so easy to get, cant we find information on one man. Experience is something you dont get until just after you need it. Posts: 1002 | From: Southaven, Mississippi, US | Registered: Nov 2004
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quote:Originally posted by suzainiee: Oh my, lol, mm, this just what they would like--10 and 13!
I checked their history the last time they were here.......
They are great guys.
Too bad, they were hoping to camp out, but the weather is not cooperating.
I was just trying to find something new and competitive.
They probably already know about every game site on the web, anyway!
if you want a site with a zillion games go here wimp.com
it has all sorts of stuff, games are at the bottom
-------------------- M.M. Semester #3 started,Only 7 more semesters to go. Why, in an age where information is so easy to get, cant we find information on one man. Experience is something you dont get until just after you need it. Posts: 1002 | From: Southaven, Mississippi, US | Registered: Nov 2004
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posted
I agree Suz, we don't know. But even people that support the concept are going to protect themselves financially.
Say they provided financing for a billion shares at .01 and they were not allowed to sell those shares for a year. That would be suicide to a creditor in penny land. What if the price is down to .0001 by the end of the year? That is why that type of clause is usually included. If the price has dropped by the time they can convert, they get more shares. It protects the creditors while not hitting the company up for a direct cash payment that could shut it down.
And up until this past fall with all of the acquisitions, I doubt that they had the asset base to refi. Now might be a different story, but it might be too late at least share wise. Or they might be borrowing now to buy up shares and try and counter things.
I know we don't know, but this is the only explanation that seems to make sense if you DON'T think Frank lied to us.
-------------------- I just want to make enough money to be eccentric. Posts: 2412 | From: Atlanta | Registered: Aug 2005
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quote:Originally posted by HossTrader: What is truly amazing is that I can pull all of this out of my a** without even lifting a cheek off the chair!!
-------------------- 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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quote:Originally posted by zippycal: How about these for the next new thread title : 1 Qbid, are you all in ? 2 Qbid strikes back 3 The revenge of the Q 4 Qbid, What audit ? 5 Qbid....... Gone with the wind 6 Qbid..... Don't worry the check is in the mail 7 Q the faithful or the stupid ? 8 Got Q ? (I figured CMKXers would like this one) 9 Qbid....any day now I promise 10 Qbid.... I just talked to Frank and he said........
Yes I hold 5 million, yes I will still hold. I am in all or nothing.
I still like... "QBID XXXVI- Thanks Frank."
After reading the last 3-4 pages of, um I am not really sure what I would call it... I think we need to add.
11. Creating psychosis, one share at a time. 12. QBID, I'm gonna git you sucka
Posts: 482 | From: Arizona | Registered: Mar 2005
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posted
CARRIAGE AGREEMENTS AND PROGRAMS HAVE ADDED TO THE VALUE OF THE NETWORK. WITH SUBSCRIPTIONS IT WILL BE WORTH MORE.
Posts: 45 | Registered: Jan 2006
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posted
Posted by: uwlungman In reply to: None Date:2/4/2006 11:53:57 PM Post #of 217680
Conversation with Frank Olsen... Copied from RB... By: flock_me_hard 04 Feb 2006, 11:13 PM EST Msg. 1147453 of 1147466 Jump to msg. # 1554 talked to Frank Olsen at 1-760-323-4455 Ext201 I was about to leave a message about Audit numbers possible coming out on Monday for a release when, Mr. Olsen picked up his line.
He sounded like he was in a good mood to say the least. I figured I would ask several Questions and see if he would answer any of them.
I asked about Audit numbers and if we would see them soon? He replied very soon. I asked what very soon meant to him for soon on Oct 19 was worded weeks away. He said very soon and they were better than he expected. He said we are very close to break even at this time and that is a big step for Q Television.
I asked why the Press Release ref. 2 week break was removed?
He said the staff has been worked around the clock for the last year and no one has had a vacation or a weekend off. The staff needs a break before the games because he see's no breaks until the games are over.
I asked If I bought QBID if I owned the same company that his perferred shares were part of?
Yes if you buy QBID stock you own the Q Television network and all assests that have been purchased as explained in several press releases. Anyone who says you do not own the same shares in the same company that QBID trades under is dishonest. He said everything about Q Television is under the stock QBID.
I asked why is the share price is so low. Frank said Q Television has come along ways in the last 2 years from nothing to the premire GLTB channel of choice. If investors and the market place want to place a low value on the company at this time that is fine for I have said those who hold will be paid when Q breaks even and Frank gets paid for all he money he has invested in the company and that is right around the corner.
At this time Frank told me he had to take another phone call and was gone.
Hope that helps
-------------------- Remember two things: You love New York City and leave only your footprints. Posts: 1526 | From: Chatham, NJ... and NC-- Wake Forest University | Registered: Jul 2005
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just remember deep breaths it is only money and we dont take any of it with us in the end. now while i am above ground i want my money mommy and i want it now. give me give me give me. frank if you dont make the share price go up asap im gonna tell on you. "now now boys and girls remember i am a pink super hero and i can and will do as i please as long as i am in pinky land". but we want our money now! " well you'll just have to wait and see if i will truly reward the longs or if you got skizammed by a fat pink man" hahahahahaha ok it really is bedtime i dont know where that weirdness came from.
30 million long and strong. i dont suggest buying unless you got guts. if all works out though i might just be buying a few mil more in the near future. call me a pumper i dont care ,i am down so big on this it is like a sickness wanting more shares. maybe i just like the suffering. or possibly im five years away from making a killing in a hot up and coming gay tv network. time will tell.
and remember deep breaths and patience helps.
Posts: 1525 | Registered: Mar 2005
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What troubled Waters Gay director John Waters embarks on two new small-screen projects sure to keep his wacky, outré image well intact.
By BRIAN MOYLAN Friday, February 03, 2006
AFTER THE ACADEMY Award nominations were announced this week, Reese Witherspoon, who already won a Golden Globe for her role in "Walk the Line," got her much ballyhooed Oscar nomination.
"I still think it’s her best performance to date," says gay director John Waters.
Oh wait, he’s not talking about her turn as June Carter. No, he’s talking about her role as a wandering white trash delinquent Vanessa Lutz in the 1996 movie "Freeway."
"Serial killers, scary white people, lesbians and Reese Witherspoon. What more could you possibly want?" Waters asks as part of his new series on the all-gay Here! TV, "John Waters Presents Movies That Will Corrupt You."
Beginning Feb. 3 — and running each Friday for 13 weeks — Waters presents one of his favorite movies that run with commentary before and after the flick. Waters’ comments were filmed in different rooms of the director’s Baltimore home, including the attic.
Here! programming is available as an on-demand option on Comcast and on satellite provider DirecTV.
"Here! said they wanted me to push the envelope. No one ever has the nerve to tell me to do that," Waters tells Southern Voice. "They said I don’t have to pick all gay films. There are some bad gay films. They said they want it to appeal to smart gay people and get some crazy straight people. That sounds like a good dinner party to me."
AS IF WATERS hasn’t done enough to corrupt gay viewers by showing Divine eating dog poo in "Pink Flamingos" or Debbie Harry popping zits in "Hairspray," he’s trying to do it again with the insane movies he’s chose for the series.
"When I use the word corrupt, I mean it with great fun," he says. "I was corrupted by ‘Baby Doll’ or the first time I saw an Andy Warhol movie. You realize you don’t have to watch terrible movies, that there are movies that aren’t made just to escape, they’re made to bring you face to face with your fears...they’re make to make you see things in a new way after you’re done watching them."
"Freeway" is certainly one of those movies. Directed by Matthew Bright, it’s a modern retelling of the Little Red Riding Hood story with a teenage girl traveling to her grandmother’s trailer park after her mother is arrested for prostitution and her stepfather for molesting her. Witherspoon plays the girl on the run from the law and then from a serial killer, played sadistically by Kiefer Sutherland.
"Bright knows how to make you laugh and gasp at the same time," Waters says in his intro.
Other movies in the series include "The Fluffer," "L.I.E." and "Beefcake." There are also some strange selections like "Baxter," a 1989 movie about a thinking, masochistic dog, and "Clean Shaven," about a schizophrenic.
The most outrageous movie comes last: 2002’s "Irreversible," a French movie about rape.
"It’s a movie even I almost couldn’t sit through," Waters says.
WHILE PLAYING HOST to these corrupting movies, Waters also hosts a show for Court TV called "‘Til Death Do Us Part." From the mind of horror director Jeff Lieberman, each week is a scripted reenactment of a real-life marriage that ended in murder. Waters plays the "Groom Reaper" who starts at the couple’s wedding and shows the audience through the scenes that lead up to the murder.
The show is currently in production, and no air date is set yet. In class Waters style, the director jokes that he hates weddings and hopes his presence in the series keeps people from ever inviting him to one again.
posted
From a Pro Q supporter. I have hinted for weeks that subsriber numbers through various contacts were low. I did not expect this low. Take this as you may.
By: illuminati2012 04 Feb 2006, 05:41 PM EST Msg. 1147317 of 1147474 Jump to msg. # Serious post guys...
QTN's finances have been critical for a couple months now. Many cutbacks were done and have continued, to conserve capital. QTN is short staffed to produce and edit their programming. In addition, some on air talent and more off air staff were let go two weeks ago.
For months, QTN has been getting e-mails from subscribers, some kind, some irate, about the programming quality. Many have cancelled their subscription and expressed their regret, because they felt a great opportunity for GLBT programming was not attained.
Some staff, let go two weeks ago are still owed money by QTN. I assume you now know, the salaried employees were not paid yesterday and are now promised to be paid this Monday. The level of frustration and disappointment is at an all time high, right now, with the remaining talent and staff. Most never received the stock they were promised upon their coming to work for QTN.
Bottom line, it has now come to a head, after months of budget tightening, layoffs, frustration. Expect to see defections this week if salaries are not met. Expectations are low, considering how things have gone at QTN of late.
Most at QTN, felt what Frank attempted, could have worked, but the financial constraints have been with QTN since the beginning. Frank has never had the capital to have QTN succeed and has remained too stubborn or unable to do otherwise.
Frank sincerely thought QTN would take off quickly and capital would not be an issue. Support he counted on did not materialize and as we all know too well, what QTN was to become quickly, never has.
Most at QTN want this to work, are holding out hope, but given what they have been through, don't have much hope left. Frank won't tell any of the QTN staff or talent how many subscribers QTN has, so they don't have too high expectations. Seriously, they all think it's around 800 subscribers.
Frank has been told many times, by numerous staff and talent, LOGO and HERE are weak and and could easily be swept aside by QTN. But Frank did not, or could not take advantage in a timely manner. Now it looks like time is, or has run out.
Monday will indeed be interesting. It looks like Monday is 4th and long for QTN with little time on the clock. Apparently QTN needs a 1st down Monday, in hopes of a chance of sudden death overtime, with the Gay Games.
-------------------- 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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posted
Miller Time, Illuminate,, WTF. This is a post and hold no credibility. OK i will post 3 pages of rants and raves. There is no DD associated with this. I call Bull****. Give me a link and some sort of credible reports.
-------------------- don't sweat the small stuff. Posts: 3439 | From: ATL | Registered: Jun 2004
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