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Tradewell...
"Preferred shares may have all the voting rights whereas common shares may have few or none..."
This seems contrary to conventional wisdom/practices regarding preferred vs. common shares. Common shareholders typically have voting rights but also have the weakest claim on any company dividends (i.e., bond holders are paid first, then preferred shareholders, and then finally - if anything is leftover...the common shareholders). Preferred shareholders, on the other hand, are guaranteed to be paid the stated company dividend (which MUST be paid prior to any common dividend distributions, even is the company is in arrears on its dividend payments), and in exchange, they often have to give up voting rights for their shares.
But, again, in this case, I fail to see any advantage in holding preferred shares of QBID, since they do not (and rightfully so, at least at this juncture) pay any dividends! So, I guess my dilemma is: what good are preferred shares in a company that pays no dividend? What could possibly be the advantages of holding preferred shares of such a company? I find the fact that QBID has preferred shares out there (if in fact they actually do) puzzling, and frankly, a bit disconcerting. Does not make sense.
Hi skunksy...
Whether it's preferred or common stock wasn't really my (or IRISH's) point. This company really needs to put ALL of their financial resources to work in building the network.
You, as an accountant, of course know that preferred and common stock are two entirely different beasts, with preferred stock behaving somewhat more like a bond. (BTW, I sure don't know anyone who owns preferred Q stock.) As far as retiring only the preferred stock, I believe that it would indeed have an impact on outstanding shares, since all forms of equity are listed together on the balance sheet, i.e., it's still considered part of the "shareholders equity." After all, preferred stock trades just as common shares do.
The one thing I find puzzling, however, is why would the Q even have preferred shares in the first place? I mean, companies that issue preferred shares are usually dividend-paying companies, and as you know, preferred shareholders have a higher claim to the dividend than common shareholders, particularly in the event of, say, bankruptcy; preferred dividends MUST be paid before any common stock dividends. If the Q's preferred shares did not pay a dividend, then what's the point of even having preferred shares? Furthermore, preferred shareholders usually do not have voting rights (which I guess in this case is moot, since none of us shareholders can vote on anything). Just seems strange to me.
I certainly can't argue with you IRISH...
From my experience, when a company announces and follows through on a buyback, the price may not necessarily shoot up, but at least it typically stabilizes a bit. We certainly have not seen such price activity here; as I mentioned, in little more than two months (during the purported buyback), this stock has lost 50+% of its value. Something is definitely amiss here!
I have to say that I tend to agree with you in that the company has probably (IMO) not bought back any shares. Now, of course, I cannot prove that (nor can you), but I also just don't see where they would have that kind of excess cash, given all the promotional and development activities that have been going on lately. Even if they have additional funding through channels other than equity funding, why do a buyback instead of putting all financial resources to work in building the network. Hmmmmmmmmmmm! The reason that was given for the buyback was that they wanted to show support for all the loyal investors; unfortunately, a 50+% loss over two months doesn't give me, as an investor, a whole lot of comfort!
Now, before some folks here start in with the "if you're so disenchanted, why not just sell and leave?", all I can say is that I've lost so damn much already that "hanging in there" will do me very little additional financial harm. So, as a still-currently-invested shareholder of this company, I post my concerns and opinions, just like everyone else.
Hey sky...you from New England?(eom)
Patriots 31...Eagles 27
Thanks IRISH...
I was actually thinking along the same lines, except for the stock dilution issue. I find that one a bit puzzling. Late last fall, the company touted a stock buy-back, which I think was supposed to occur over roughly Nov., Dec., and Jan. Seems a bit strange that they would be doing a stock buy-back while at the same time issuing more stock. Mind you, I'm not saying that it isn't happening (I don't know), but just seems bizarre. Any further thoughts?
realmoney2..."agenda?"...No, not really...
...unless you count my desire for Q's share price to show upward movement that is consistent with the company's current progress and activities. So far, over the past two months, there has been an extreme "disconnect" between the share price and all the so-called "great" news.
As an investor in a PUBLIC COMPANY, I (as well as you and every other investor in this company!) am ENTITLED to an explanation. Public companies are strictly accountable to their shareholders. And, when the stock price declines by 50% in two months, they damn well DO have an obligation to explain!
Well, it's now almost February 1st...
Since December 1st, 2004, this stock has declined (nay, tanked!) by nearly 50%, despite all the so-called "great" news as exemplified by the many PRs of the past couple of months. Can anyone(!) TRULY explain this? (and I don't mean the usual "just wait and see, we'll all be fine" crap.)
It has now been seven business days...
since DMXP's most recent PR about still (yet again!) trying to get financing for what is clearly a very small project in the grand scheme of things. Yet, the stock price is down another 7.5%. Ain't that a bummer????!!!!!
Doesn't anyone here have a sense of humor?...
I guess not.
emit...good post(eom)
Hi osger...
You make a valid point. However, I've been wondering why the famous Dr. Barry Rayment is hooking up with no-name pink sheet companies like DMXP and SGGM. Could it be that he has amassed a significant-enough retirement nest egg that he can afford to play around a bit with such companies, knowing full well that they may go nowhere? And, if his experience and expertise is so "valuable," why isn't he more involved (or in demand) with more established diamond and gold mining companies, where he could surely reap greater compensation? Makes me wonder!
Hey Ben...take it easy...
sometimes I go a bit over the top regarding my frustration with this one. It's just that if DMXP is looking for $200-300 thousand to get some bulk sampling going, I can't see why it's taking so long; that level of funding/financing is "peanuts" in today's business world.
Sorry if I've caused you and others more angst over it. I ultimately hope that this one comes through for everyone concerned. In my case, I'm down so much that selling out now would be ridiculous. I mean, if I sold now, I'd probably net $500-1,000 (representing about an 80% loss); so, I figure, what the hell, let it ride; the most I have to lose at this point is another $500-1,000. I will say this, however: if I can get out at some point to just break even, I'll do it; and, if I left money on the table, so be it. Just my feelings right now.
freshner...good post and good perspective...
I'm just a bit frustrated these days. The wait just seems interminable.
Ron...great post...
But, while we "...look for news about advertisers, sponsors, together with implied or explicit earnings potential"...until we have such wonderful things, we have NOTHING! And, the PPS recently is certainly reflecting this "fact."
How long must one wait for the major event that everyone is hoping for?...a major carrier?! And, how long can the Q continue to develop great programming, with all its associated costs, before going back to the market to garner more funds to support such activities. (Yeah, I know, QTN has enough funds to keep going for another 5 years, blah, blah, blah. But, how can you or I know this for certain?!) None of us, to my knowledge, have seen any verifiable financial statements...is that not true?!
whiznock...
It just doesn't make a damn bit of difference what any of us write,,,including me!
Yup, you're right!
Genuine Broadcasting National TV Networks do not trade for less than a buck a share.
That's just a fact.
Okay, I'll give you that one, since I'm too lazy to verify it.
QBID is established & in the birth stages of becoming a Genuine Broadcasting "Global" TV Network.
That's just another fact.
Whoops! Sorry, but I won't give you that one as "fact." It's totally your opinion, nothing more...nothing less.
I don't know exactly when but I do know QBID will trade for more than a dollar a share.
That's a very important fact.
Nope, sorry again, but you don't actually KNOW for sure that this one will ever trade for more than a dollar a share. So, NOT a fact! Simply your opinion.
As for launching, another "important fact," yup, we've launched all right...on RCN, in three cities! WOW! But, you are right on this one; it is indeed a "fact."
As for the rest of your rantings...
hockeypond...sh!t...
They've been saying that since May 2004 (vis-a-vis, financing). Total crock! It does NOT take this long to get financing from firms that believe in this stock's potential. The fact that it has indeed taken this long (and longer!) speaks volumes. And, to top it off, we are not talking about super-major financing; a couple of million $ is nothing for venture capitalists, yet they seem to still want to stay away from this one. As far as I'm concerned, Dr. Barry Rayment is a total non-issue. His so-called clout in the gold/diamond exploration world has done nothing, NOTHING!...for DMXP! (As a shareholder, I base that opinion totally on the the share price activity of late.)
I'm still in this one (why, I'm not sure), but I fear this is just another "fur hat" loser!!!
Just another day in DMXP land...
Great volume (well above average) and lousy price activity. Oh, and let's not forget, STILL no news! Looks like someone passed the fur hat along to this one!
Weird...perhaps. Manipulative...definitely!!!
freshner...it's not the brokers...
it's the market makers (MMs). They can buy/sell as many or as few shares as they like, for their own account, without the retail brokers' commissions.
Great! PRs over the past few weeks...
but still like "watching paint dry" with regard to the PPS movement!
Oh c'mon, sorta...
Shouldn't you be out shoveling snow or something?! Hehehe! I sure am!!!
Take care,
prince
Hey freshner...
Wouldn't it be nice to be the other way around for a change?
I couldn't agree with you more!
Yawn! SOS! (eom)
This is a strange one!...
No "decent" PRs of late (and I mean "decent")...
Yet, price/volume activity is beyond comprehension. Volume over the past three days (including today) exceeds both the 10-day and 90-day average volume. But, PPS is up and down like a yo-yo!
Any of you "chartists" out there care to explain? I'm all ears!
OT: pharmman2002...if I can be of any help...
I would also be happy to do so. I do financial planning; and tax planning is a certainly an important aspect of any financial planing activities.
If you wish, you can email me, in all confidence, at: lmaheu@comcast.net
If not, that's cool. Just thought I'd offer.
P.S.: Please don't take any of my posts here as indicative of my abilities, so to speak, to advise on such matters. I get emotional about these pink sheet stocks as much as anyone else here! But, when it comes to the "nuts and bolts", I don't play around.
Hey skunksy...I like your historical stories...
But, let's also not forget that for every success story (the ones that virtually always get all the press), there are literally thousands and thousands of other non-storied attempts at "progress" that have crashed and burned, so to speak.
[BTW: don't forget what day it is; time to cook up a nice pot of pasta!!!]
emit...so your point is...?
realmoney2...
They don't have to report to the SEC. Why do you insist on them reporting? It is NOT going to happen right now.
And, you are perfectly happy with that? Frank Olsen is your personal buddy, and you trust him with your life? Or, more to the point...with your money? Good luck to you!
As skunksyard has just posted...
what has this to do with "We're trying to make this board a refuge and retreat from RB for people who appreciate this UNIQUE approach and who also genuinely believe in the long range prospects for this developmental company."
Sorry neil, and you too realmoney2...
but what has been "said" by Frank in the past doesn't mean squat! All of us investors need verification, as exemplified by SEC filings. Until that happens, it is simply as you both said: "what Frank has said."
pharmman2002...
Not really sour grapes, as you say; just concerned. As an investor, aren't you? No, I don't expect that any of my questions will get answered tonight, that's for sure. And, yes, I knew this was a non-reporting company when I bought shares. But, I do appreciate hearing from those investors (or not!) who have a more "skeptical" view of this company than the majority of posters on this board. Frankly, I see nothing wrong in that.
As for "quit whining and sell or shut up"...in your dreams! As long as I don't violate the iHub TOS or engage in personal attacks, I have as much right to post here as you do. So, for God's sake, let's not go there! Get over it, pal!
Hey catilyst00...
Bashing a stock is usually pretty obvious to most posters here. But, IRISHBULL merely stated an opinion (i.e., "IMO", as stated in his post) about the ability of QTN to continue as a "financially" ongoing concern given the cash outlays that they seem to be anticipating in the near future. Frankly, I just happen to agree with him/her in that, without some serious revenues, where will the funds be coming from?!!!
Neil...
Okay, but from where are those funds coming? Do they have the cash on hand right now sitting in a bank account somewhere? If not, from where is it ultimately coming? Shareholders? (i.e., stock dilution?) Secured or unsecured debt instruments? Cash payments from joint venture partners? Where?
It is all well and good that Frank tells everyone that he has the funds to last for 5 years minimum, but it is a whole other issue for him and corporate management to "come clean" with all of us investors as to where the funds are derived from! I’m talking about audited financial statements! As investors, we are more-than-privileged to know this information; it is our right as investors.
But, then again, this is a financially non-reporting company/stock. Management does not have to verify/certify anything. In essence, they are not responsible to any of us shareholders, eh?!!! Guess we all just have to take Frank’s word for it!!!
Hey sky...please don't let my comments in any way sway your investing intentions. My comments are, pure and simple, just my comments and thoughts. Yes, I'm not too happy right now (nor over the past few months) about where DMXP is going or not going, but I sure don't have a "lock" on what's going on with this one. Just hope it's not another "Fur Hat" scam!!!
BBSTOCK...and can you PROVE that it's not?!...
No, I didn't think so. This board needs to hear from everyone, and I mean everyone who has an interest in the Q - and I couldn't care less whether they are currently invested in it or not. For God's sake, man, who ever said that only "Q investors" know what's really going on here?!!! Damn, this is a financially "non-reporting" company at the moment. IRISH does provide a rational counterpoint to what seems to be a consistently overly-optimistic perspective on this board. I have often wondered myself how long QTN can continue operations (i.e., program development, P&A, etc.) without major incoming revenues (read: major carrier[s]).
FWIW...I am also invested in this stock. And, I would like to hear from both sides of the aisle, as it were, with regard to QTN's ability to maintain itself as an "ongoing concern" from a financial perspective. After all, the price of this stock will ultimately reflect the ability of management to generate income - pure and simple. Income (or earnings) will ultimately determine the true value of this one, as with any other company.
Why is it always "bashers and MMs"?...
Don't individual investors have ANY influence on this stock's price?
OT: c'mon folks...can't say that the Pats looked too good in the 3rd quarter. If they don't get the momentum back, could spell trouble for the red, white, and blue.
sirotka3...
A stock price usually drops on what is known as the ex-dividend date, which is two business days prior to the date of record for the dividend. The date of record is the date that an investor must own the stock in order to get the dividend. The reason the ex-dividend date is two business days before the date of record is that the settlement for a stock purchase is three business days after the transaction.
For example, assume the date of record of stock X is Jan. 27. You buy stock X on Jan. 24. The settlement date is Jan. 27 (three days later), so you own the stock on the record date and are entitled to the dividend. The ex-dividend date in this case is Jan. 25 (two days before the record date), since anyone purchasing the stock on or after Jan. 25 will not actually own the stock on Jan. 27 (the date of record).
The actual date of payment of the dividend often occurs weeks after the date of record, and it should have no impact on the stock price.
realmoney2...
No, I didn't really need you to explain that one to me. LOL! But I was hoping you might explain how that gets the Q any closer to a signed nation-wide contract with Comcast. Yes, it might imply that Comcast is, at least, open to the possibility of carrying a gay channel (or two or three?), but if the Q doesn't figure into the equation, we are no further along than we have been (which for some here, has been an interminable amount of time).