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Q Television Network Signal Terminated May 25, 2006 9:16:00 AM BURBANK, CA -- (MARKET WIRE) -- 05/25/06 -- Triangle Multi-Media Limited (PINKSHEETS: QBID) and its wholly owned subsidiary the Q Television Network (QTN) announced today that Q Television Network is no more. Effective 5:30pm Central time, the Q Television Network signal broadcasting programming was shut down. Previously, the entire Q Television Network staff had been terminated.
Chairman and CEO Lloyd Fan stated that he was unable to secure funding for the network and therefore unable to meet the financial obligations of the company. "When I took over control of the network on March 7, 2006, the company was roughly 7 million dollars behind in payments to vendors; numerous lawsuits had been filed against the company and over $600,000 was owed to former employees. The financial challenges that the network faced proved too difficult and I was simply unable to turn around the network." Mr. Fan added, "Given the GLBT demographic and the success the network had experienced in distribution, I thought securing funding would be easy -- I was wrong. I am deeply disappointed that the network failed. Many talented people devoted themselves to saving the network and it is sad that it has come to this end.
"I would like to thank the cable affiliates, our uplink provider, all the vendors and the staff that supported my takeover. I had hoped to make good on all the debts incurred and owed by the former management team and truly thought that the new team, with proper funding, could make Q Television Network a success. My sincere apologies to all individuals and businesses that have suffered because of their affiliation with Q Television Network." A full forensic accounting and bankruptcy proceedings will follow.
About Q Television Network:
Q Television Network is a 100% wholly owned subsidiary of Triangle Multi-Media. This 24/7, premium television network is organized to create, develop and feature television programming for the gay and lesbian community, including live & interactive content every weeknight, plus sports, information and entertainment. 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 is available on a subscription basis to those desiring to subscribe. The monthly fee varies by region of the country. The network is telecast 24 hours per day, 7 days per week and features a variety of live and original programming. Q Television is available on such blue-chip cable systems as Time Warner, Cox Communications and RCN, among others, with availability approaching 3 million digital cable households in the U.S. Q Television Network is the official network of Gay Games® VII. The network is also ad-supported. 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.
Contacts:
Lloyd Fan fan*qtnasia.com
Posts: 2049 | From: Jax,FL,USA | Registered: Nov 2003
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LOL i still have 1Mill shares of qbid that just dwindled to nothing in my account.... what a piece of garbage
Posts: 2794 | From: nyc | Registered: Aug 2005
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Hurry every body, lets get over to the fight network, their sports are some of the fastest growin gin popularity in the world. And they will come to the US soon. This stuff is hot. I have 11 million QBID shares to try to right a tax loss on.
Posts: 4245 | From: SMALLVILLE USA | Registered: May 2004
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I still think Frank should do time for the way he handled this. His name should be Fra ud instead of Frank.
Posts: 4245 | From: SMALLVILLE USA | Registered: May 2004
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RIP I made many many thousands in QBID 2004 It gave me the money to trade 2.5 cents from .0006 That was a very good year
Posts: 1068 | From: Utah and Put-In-Bay Ohio | Registered: Jan 2004
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Justplayin, I gotta' play one upmanship with you <G> CMKX=QBID=IBZT Same style of managment. Sorry for all who were still holding at the end. Steve
Posts: 259 | From: Rogers, AR | Registered: Oct 2003
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-------------------- 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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This was one of the first long term stocks I ever bought. So many opportunies to make so much money. Instead of buying and selling. I just held. Always with the delusions, making 100's of 1,000's of dollars.
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Thankfully mine were free shares too from '04. Still showing a paper loos is OK, that is if I have any gains enough to offset when I bought back in.
Anyway, lets focus on the next possible big one, does anyone have any good picks for 06??
-------------------- One Lucky SOB Posts: 74 | From: Lacey Twp, NJ | Registered: Aug 2005
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quote:Originally posted by freebird68nj: Thankfully mine were free shares too from '04. Still showing a paper loos is OK, that is if I have any gains enough to offset when I bought back in.
Anyway, lets focus on the next possible big one, does anyone have any good picks for 06??
BKMP-The Fight Network(all fights all the time) these guys look poised to be a success as the only fight network in existence in one of the fastest growing sports on the planet. They are just hitting the UK from Canada and are expecting to be carried in the US shortly. http://www.thefightnetwork.com/
click on subscribe now.
Posts: 4245 | From: SMALLVILLE USA | Registered: May 2004
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So Lloydster is filing bankruptcy for QTN. Does that mean we still own TMM? LOL! Remember QTN and TMM are registered as two diff companies. QTN has 75k shares registered. We have always only owned TMM, what's the bid deal? With or without QTN the QBID stock is valued at .0000 for the longest time anyways. Good riddance!
I wonder what scam Frankie and Lloyd are dreaming up next? These SCAMSTERS will surface again, under different aliases... mark my words.
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If those clowns surface again MAKE SURE that their sordid past is passed on to the new 'investors'.
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
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"Some posters long ago passed on info about Frankies crooked past and were labeled bashers. Some will never believe. [/QB][/QUOTE]"
Posts: 1124 | From: DC/VA | Registered: Jul 2005
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"Some posters long ago passed on info about Frankies crooked past and were labeled bashers. Some will never believe.
" [/QB][/QUOTE] Yea did they ever and he was so 100% right and it was so obviously a pump and dillute. He started a whole thread with all the info from when Frankie did this to all the first time. He probbaly is still here a lot of people change thier names Are you out there.??
Posts: 1068 | From: Utah and Put-In-Bay Ohio | Registered: Jan 2004
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wow so no cheezecake? i had given up a while ago psychologically about this ever working out but i always remained optimistic about eating cake and gambling our hearts away in vegas together. oh well many of us were suckered and learned big lessons. i sure did. i wish you all the best and my heart goes out to those that suffered during this adventure. i will continue to follow this company until i see it no longer in my account.
i am not suggesting anyone to buy but i will admit i couldnt help myself and i am into bkmp for 10 million. yet another tv station ehehe. my rational is if one was a scam maybe the next will be for real. i can assure you all though when i get up on a micro i SELL. let the freebees ride but going all in and waiting is obviously a painful experience more often then not in pinky land. once again best of luck to you all and let the drama continue right suzieq haha. Posts: 1525 | Registered: Mar 2005
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