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He says not every one of his shares has been converted to preferred. (just because haven't had a chance to get it done). question: Who do you feel is selling the stock. Answer: started with stock in no where land (where we are today). Frank needed to issue stock to get the assets we have today. The strenght and income will give a company that is making money.
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has given restricted stock to some people about two years ago. The restricted stock is almost all gone now. (sounds like he is saying the new stock coming on the market is the restricted stock). When the audit comes out you will see that the market cap is much lower than the assets (real assets)
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gave stock for film library....that's what hitting the market and almost done...
-------------------- Marty When I was born, I was granted a visitors pass to earth. I will enjoy everyday until it has expired. You should too ;)
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Questioner is challenging the way the introduction of restricted shares is bring down the pps. He says it has almost all come through. Once we start up and get everything put together we will get monthly income from subscribers. Overhead is then limited (given a lecture on Business 101)
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Frank says he will never sell a share without informing us. Will not roll the stock back. Will not increase the outstanding stock without informing shareholders in advance. the only way he would do it is to buy a movie series that has 310 episodes. Mary Hartman, Mary Hartman is the series. That is the only reason he would increase shares (restricted shares)
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Question: Do you have a handle on net worth Answer: I believe we have a billion dollars in assests. Liabilities less than 10 million dollars.
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Question: What is the net revenue of QBIB for FY05 Answer: no net revenue, running at a loss. can't say was the gross reveuen is. That will be in the audit (he said in next few weeks).
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Networks take a lot of time to develop but when you sell them they sell for billions. When we sell this network the shareholders will get the money.
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