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Oh you don't say. So who initiated the reverse-merger. Why was it a reverse-merger and not a merger? Why did they want to do that? Where is LTDnetwork incorporated? Where is AK from? Who owns BLLN? You have come into this half way through buddy, like most others here.
Have you got your Qtrax shares yet?
I have been in this for way longer than all of you. Try eight years (or more now). Anyone who invested in this at the AVDI or BLLN points are way latecomers. Most of you guys have little cognizance of LTDnetwork do you. You think it is just AVDI which then became BLLN. This history did not start at that point, and that has ramifications for what is going to happen or not happen imo.
"Not sure they had a chance to ask questions" - of course they wouldn't have a chance to ask questions, are you serious? You MAKE your own chance to ask questions,and be prepared when you get a chance to have a conference call, and if the people in the queue ahead of you won't ask the questions, then get them out of the way, because they have no clue. Basically, if you ask no questions or ask the wrong ones, you get the information that they choose to give you. Such naivity here.
Same as the U.S. economy really, is anyone asking where all the money is coming from, or does everyone know the government is printing it or has raised so much foreign debt to fund America that your future is now not in your hands. If someone pulls the financial pin on you now, you are history - THEN you will no doubt start asking questions, when it is too late, and then want someone lynched, which also won't solve the problem. Get serious, look what's going down. You know who buys US treasury bonds (ie funds American deficits), when no one else will - the US Federal Reserve that's who - and where do you think they get the money, printing presses?
I think they all mean well, but they obviously haven't been invested in this long enough to get over the shock and awe of things not happening when they should have happened. More seasoned investors here got over that many YEARS before lopaka and the others came on the scene, but they just can't get their heads around that, I think.
Frustration turns to anger, and with some people that turns into lawsuits apparently.
A conference call. Wonderful; and what searching questions did they ask that we got any feedback about. I would say - none were asked; it is quite clear from the postings that are put here, that most people wouldn't know what to ask, and would recoil in horror and hostility at the prospect of daring to ask a challenging question of the top brass! They would have got a feel-good speech, and bowed deeply and humbly and said thank you. Most companies in a situation like this, happen to be good at that, they'd better be - that's why they're in it.
Lopaka and others aren't talking with the top banana imo, they never have been. They are talking with people who have an impression of what should/will be done, just like ourselves.
You must get to the stage eventually when financiers are harder and harder to find, plus now there is the biggest crash in history happening, so backers in the U.S. will be non-existent I would say. The U.S. is on a higher tightrope than Qtrax at the moment with a lot worse to come, you can't imagine the dangers, so this had better get up and soon.
" It doesn't help us any that AK is trying to keep as much of the pie for a select few."
what do you mean by that?
"does BLLN have to pay money"?! With due respect, friend, if that is your level of understanding about what happens in a lawsuit, I think you should be very afraid of your general understanding of the current situation with your investment.
In my long experience, most people have no clue about law and lawsuits, and because they don't understand, they just think then that it isn't important, only because they can't fit it into their personal frame of reference right now.
If you lose a court case (brought against you) for compensation, ahm, yes, you have to pay the compensation - that's no doubt the situation the world over. If you don't have the money, and your creditor calls you on bankruptcy, then you (as a company or as an individual) may have to go bankrupt. (Notice in the Samuelson lawsuit, the claim is against BLLN AND AK - what does suggest to you, grasshoppers? Game over - your assets, if you have any, get sold basically at fire sale prices to the highest bidder. In this case, the main product of BLLN is Qtrax, apart from some office furniture perhaps. If you continue to trade while you are insolvent, you could become personally liable for the debt as director(not just your company), and there could be jail sentences along with that.
If you think that you might lose the case in court, or it is too expensive to fight, you could offer to settle it ahead of the court case. Oh yeah, and then there's the legal fees to pay.
In BLLN's case, where does the money come from for that. Hmmm?
Go on, think about it. How many of these lawsuits against BLLN actually reach the court room do you think?
Maybe.
If it survives.
If you call that good company, clearly you are not a lawyer. Maybe you should start boning up on American law, you might need it.
I lost my teeth? don't bet on it. do you have shares in this or are you just all into checking out the winky dinky qtrax website. You wouldn't be able to download music yet, so I guess something must make you happy about this. Veerrry interesting.
"He does not care who goes down the drain"?
What if he goes down the drain? Doesn't he care about that?
You are lucky you only invested in 2006. Many invested many years before that and have watched their investment decrease dramatically because of plummeting share price and massive dilution. don't be too self-righteous, it could come back to bite you on the backside yet. People invested here have every right to be very angry about this - some of them have taken lawsuits as well. You might one day, don't speak too soon.
Here is the link to the Samuelson case, just in case you haven't seen it yet:
http://dockets.justia.com/docket/court-nysdce/case_no-1:2009cv04001/case_id-344594/
Scroll down and have a look at what it says under "Cause". What does it say? What does that mean to you?
Do you know the details of the claim by Samuelson for $1M?
Have you got your Qtrax shares yet?
Sarcastic? Tell James Samuelson, and all the other litigants.
No amount of social networking is going to stop whatever is causing these lawsuits. Try realism. In case you didn't think so, lawsuits aren't good for business - and I guess they don't endear the company to the market of people who might be looking at buying shares in the company. Sorry, but that's the situation. This company has to make money before the pps does anything. Are they making money? A profit would be preferable, at the risk of sounding sarcastic. Go on, tell me, are they doing that?. I say again, they had better be able to pay out their debts and any cases they lose, or they go under. (That's called realism.)
What, a quick million downloads or a quick million dollars? The latter should take care of the Samuelson lawsuit at least then wouldn't it?
well they better have it right now and hurrying it up because it looks like people are going to drag them through the courts. You know, if you can't pay your bills and debts eventually...you're up the creek without a paddle.
Which of these companies is actually profitable? You know what happens if you have more creditors making demands for payment than you can pay? They tend to take lawsuits for a start.
Taking lawsuits are they? Notice too, how non-disclosure/reporting provisions for pink sheet stocks don't stop lawsuits? Funny that. Samuelson is also after $1M, so it is a civil case for compensation for some type of damages by the look of it, not a criminal matter (apparently). If or when you see the SEC as the plaintiff against BLLN and AK, then you have a big big problem; and if you thought you were long in Qtrax and would be immune from any consequences for Qtrax, I would think again if I were you. Brilliant, LTDnetwork and Qtrax are not small fish. Does everyone know the consequences for AK and Brilliant if Samuelson wins that case and there is not the money to pay the judgement amount? One guess. My guess is that it might be settled before it gets anywhere near a court. I wonder where the money would come from? What do you think?
Gee, that's great - are the artists getting paid, or will they be taking out lawsuits too?
Why 6 months? What happens after that?
Why? Wouldn't you do better buying Qtrax shares? (You might actually find out more about what is going on by doing that, wouldn't you?)
You mean WECK is long in blln or Qtrax? What will you buy back into blln or qtrax?
Kingdom Come, bro, Kingdom Come, to those who wait, ok? KFC.
Very good observations. I have two questions:
1. What is the nature of the lawsuits, do you know?
2. What are the terms of investing in Qtrax?
2a. are blln stockholders disadvantaged by whatever is the basis on which the prime product of blln is being offered to outside investors with no disclosure to blln shareholders?
(I wonder how 2a goes down as a lawsuit or regulatory issue.)
2b. Which longs are investing in Qtrax? (Are they still here?)
Wouldn't have anything to do with dilution would it, and big investors buying into Qtrax rather than BLLN? If big investors are being approached by AK to invest in Qtrax, why would they be investing in BLLN? I thought you were a broker.
Hmmm, I take a few months off, come back and what's changed here? Nothing, it seems. GoQ seems to have disappeared altogether, I guess he doesn't ktf anymore. So, we've had a big launch, and the pps is still two cents; AK is still trying to raise capital according to commentators here; still doesn't seem to be any clue as to where this all goes from here ie a spin off and what happens to blln shareholders and/or blln the company. Is this company making any money yet; I guess not if AK is still on the capital trail. Silence is golden, isn't that the name of the song?
Thank you so much, dv. I try to help by putting the alternative viewpoint sometimes, although is might not be what people (including myself!) would rather think about. I only do that in the event that it might generate other ideas or perhaps even action that shareholders can take vis-a-vis the company, or even that someone from the company is reading it!!
I sincerely want this to work. I am also very happy to see that someone who is clearly very close in to BLLN is posting on that blogsite. It means they are positive about it. I can't imagine AK himself having the time to sit there posting it, but maybe he is. Whoever it is is speaking with calm authority and knows the situation in fine detail.
What do I think? I think that whoever it is who is posting to the www.qtrax.wordpress.com blog is very close in to the organisation. The person, to me, is a professional writer, possibly in the pr area, or else they are just a naturally talented communicator. The person speaks about qtrax as "we" and "our library", a number of times, and as a good writer they would not make that sort of impression mistakenly. They know what they are saying, and given that they seem to have nothing to gain from giving that impression, it seems that it is true.
As a reasonable practitioner in that field myself, what jumps out, objectively, to me (rather than the things I might otherwise focus on as an anxious Brilliant shareholder), is the very clear message in that blog that "they" regard it as "over to us" the public to buy the goods advertised there to make the whole thing a success - a use it or lose it type of perspective - "we've done our bit, if it doesn't work, it is not our fault" view of it.
If the revenue generation is enough, great, we have a business success (as well as a nifty music download website)and the pps will eventually go up, possibly a lot.
If not, it is no skin off anyone's nose at BLLN - they have no doubt earned a small fortune in getting paid for what what they have been doing over the last eight to ten years, as they say. There's been plenty of capital support. The only thing they would not get in that situation is a very big fortune through whatever investment interest they also have in the project. That would be a major loss, so I think there must be a plan B all ready to go in terms of a spin off or buyout of Qtrax to the highest bidder. We will therefore definitely see a launch at least and it will be watched closely by some very big players and continue to be,all imo.
My concern is for the corporate entity Brilliant Technologies as distinct from the Qtrax entity in the revenue generation stage.
That's what I think. What's my target? - I'd like to get my investment back, thanks very much, if that's not being too over-optimistic.
It can and does happen. When you verify that that is the case, what are you going to do about getting your Qtrax shares? Nothing?
qcrap, do you actually know what "bankrupt" means? You use the word quite a lot, but it seems from your comments that you don't know what it actually is.
Why would Qtrax have already been separated in this scenario? Subsidiaries in my understanding rarely get separated before disasters like this. Why don't you understand that?
Definitely a monumental scandal - but a legal one, and imo, very little if anything you could do about it, except rant and wave your arms in the air.
Qtrax is described as a subsidiary of BLLN - in my understanding "subsidiary" means a separate company. If companies go bankrupt, shareholders end up with zilch, that's the situation all over the western world at least imo. Creditors come first, shareholders come last. If, as a BLLN shareholder you didn't have Qtrax shares issued to you at the theoretical time BLLN went belly up, game over. You don't get shares in Qtrax in that situation, I'm 99% sure that's the case.
It might be a nightmare scenario, but it isn't uncommon.
But, hey, what would I know eh?
Here's a scenario for you: Qtrax is a separate corporate unlisted entity a subsidiary of BLLN. If BLLN went bankrupt, Qtrax being a subsidiary would not necessarily be bankrupt. If BLLN shareholders did not have shares issued in Qtrax at that stage, being only shareholders, they would take probably last place behind every other creditor with a claim against BLLN, so what chance would they have then of getting their Qtrax shares. Answer - none. Would the cessation of BLLN as a company remove all BLLN shareholders from having any claim on Qtrax shares? Wouldn't that leave the only people with a shareholding in this project the Qtrax direct investors?
Now does that focus you a little more on your own interests?
Or shall we talk about the splash page a little more.
There you are qcrap, there's something for you to really worry about.
The most productive aspect of this you can think about at the moment imo in terms of what return you may or may not get on your BLLN investment is how the Qtrax direct investors are going to get a return after the launch. Surely there must be some arrangement with them, if they don't have BLLN shares, or they can kiss their investment goodbye. If there IS an arrangement with them, where does that leave your BLLN shareholding?
Why is everyone concentrating on how good the splash page looks, or how fast the downloads are, or cloud tests,or Version 1.35329 none of that stuff has any affect on your MONETARY investment here. If you lose your monetary investment, the splash page still goes on.
If I was a Qtrax direct investor, right now, given all the dominos are in place, I would be wanting to know when I get my Qtrax shares given that we are apparently only 30 days from launch.
How are direct investors going to see some return on their investment when/if the big launch comes off? I guess if they don't have BLLN shares as well, and they haven't got a marketable liquid Qtrax shareholding, they don't get a return.
Would they be happy campers at this stage? The mind boggles.
spotify was reported as closed down by the labels:
http://www.guardian.co.uk/technology/2009/feb/11/digitalmusic-downloads
You're not necessarily the bad guy, but you don't have solutions either. I don't think they have the luxury of another year. All necessary deals are in place, there are no more excuses...there will, imo, be extreme pressure now from Qtrax direct investors to perform and see some return. Unfortunately, the BLLN pps may not provide that return, we don't know yet, but there can only be a few more weeks left, i.e until "launch" to see if it does. Separation of Qtrax from BLLN must be a consideration. You talk about a disconnect between what is said and what is done, if that disconnect carries over to the process of separating Qtrax, that is a major problem imo.
These will, imo, become major issues within weeks, not a year, unless this starts to perform financially.
How are Qtrax direct investors going to even get a return unless they also have BLLN shares? If they do have BLLN shares, and the price stays at this level, after all the money the Qtrax directs have put in, they are not going to be happy campers are they. No one here might have the gall to do something about this, but I would think the Qtrax directs will.
BLLN shareholders should be doing everything they can to find out what the Qtrax direct investments mean for their shareholding in BLLN imo. That is the critical issue. It is as important a piece of DD you would need to know right now, if you were thinking of buying BLLN shares imo.
Yep, exactly. I would have thought that if he can't launch without more funds,if the problem is that Qtrax shares are illiquid, then the only way he is going to get them is to offer liquid Qtrax shares ie spin off the company and list it on the exchange. It's as well Qtrax appears to be a separate unlisted corporate entity at this stage, that might make listing (and raising funds) easier and quicker, don't you think?
I wonder what happens to BLLN shares (and shareholders) when this happens?
Amazing how quickly things can change, ain't it. Whaddiyaknow, who would have thought! It's all under control though - right?
Scared? Yep. It's ok, you'll get used to it.
Maybe they said that about google pre-revenue too. Anyway, you'll have to hold your shares and ride this all the way whichever way it goes eh.
Sounds great. Can you say any more?
All good. It will be interesting now to see the balance between whether the pps will rise on revenue generation or stay down because of dilution or other market perceptions.
If it is about market perceptions of dilution, especially in the absence of financials or ANY reporting at all, perhaps there ought to be some focus on that too.
IF there is major revenue generation, which I think AK and team are particularly good at (LOL, don't we know!), BUT the pps stays down, then we have a problem, houston.
That's when plan B must kick in - if there is one. It should be about spinning off or selling Qtrax. I would imagine this will be a consideration any time now, or shortly after the launch, even if it mightn't be on the team's immediate radar right now.
It will happen quickly, imo, if it is going to happen. There's another logistical nightmare for you. Would be nice to be prepared, wouldn't it. I hope we all are.
Interestingly, if it doesn't happen, BLLN shareholders live with the BLLN price whatever it is, but what happens to the Qtrax direct investors, hmmm? That's an interesting one isn't it. As if they will be saying, oh, fine, we invested in Qtrax, but hey, we don't get any return, that's just the roll of the dice. BS. There are big investors involved in direct Qtrax imo. How do Qtrax investors get a return?
Think about it.