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Klepfisz said Qtrax Web will probably debut with music from all four majors despite comments from some labels to the contrary "...Nobody has threatened us with a thing," Klepfisz said. "We plan to release music the way we said we were."
The SB-2 appears to be a registration of the warrants attached to private placements in late 2006 early 2007. It has the same people listed as sellers as has been selling thru the 144 filings we’ve seen popping up lately
An updated 15C2-11 Information and Disclosure Statement was filed today
http://www.nqb.com/otciq/ajax/showFinancialReportById?id=13503
use the link above to access the document or dig it out yourself at Pinksheets.com
This got to be the biggest LOTTO play ever. Either Qtrax fails and the stock is worthless or the labels sign on and its an EASY ten bagger (likely much more).
Simple and straight forward and I like the odds
The meat of that piece of news
At MIDEM Sunday, Klepfisz acknowledged discussions with the labels were not easy.
"A colonoscopy is relatively painless in comparison," he told participants.
Later, Klepfisz told The Associated Press that he had reached agreements on the terms of the deals, though some deals had yet to be formally signed.
Privately, some recording industry executives said Monday the botched launch likely wouldn't factor in final decisions on whether to sign off on the service.
14.5 filled!!!! That is 1 cent better than the PIPE.
Qtrax Id seems to be your online ID. I just entered my IHUB id and it worked just fine. 1053 online users now
LOL….I’m getting drunk as I am typing this away.
Need to hardcore bash this thing tomorrow so I can get to establish a cheap new trading position
45 boardmarks and in the top 5 IHUB active boards.
Friday morning we had 17 boardmarks and wasn't even on the top 200 boards....LOL
I'm ready for Monday opening. Taking the day off from my regular work
and here is the PR issued by WMG announcing the QTrax agreement
Warner Music Group and Brilliant Technologies Announce Agreement to Offer WMG’s Catalog for Qtrax, the World’s First Ad-Supported P2P Legal Service
http://www.wmg.com/news/article/?id=8a0af8120db2cd3a010dc805981312f1
And more here:
In August 2006, the Company signed an agreement with Warner Music Inc (“Warner”) whereby ATV has licensed its music publishing properties for listening and download on the Company’s Qtrax legal P2P music network. Under the terms of the agreement, the Company is required to make a non-refundable payment of $100,000 and two sets of non-refundable payments, recoupable prepayments to Warner in the amount of $50,000 and $75,000 for a total of $225,000. These payments shall be recoupable against payments due under various subscription agreements. Under the terms of the agreement, the payments are due as follows: (a) upon execution of the agreement, the Company shall pay $100,000, with $50,000 due in 3 months of the signing date with remaining payments of $25,000 each to be paid in November and December 2006 and January 2007. As of December 31, 2006, the Company has paid Warner $33,333 under the agreement, and was in default under the terms of the agreement. In February 2007, the Company paid $33,333.
On April 17, 2007, the above payment terms were amended as follows: $85,000 payable upon signing of the agreement; $23,333 on May 15, 2007; $25,000 on June 15, 2007; and the final payment on June 17, 2007.
-----------------------------------------------------------------------------------
So, this WMG spokesman claims all this never happened
I would put more credence on the latest BLLN 10K (audited), then on some spokesman who apparantly hasn't checked his facts. The BLLN 10K states:
"To date, we have entered into license agreements with Major Labels and Publishers for use of their catalogues and publishing rights. These include EMI Music & EMI Publishing, TVT Records, SonyATV Publishing, SonyBMG, Warner Music Group, Universal Music Publishing. We have also entered into license Agreements with several independent record labels for use of their catalogues. These labels include V2 Records, Inc., a member of the Virgin Group, Digital Hardcore Recordings Ltd., Geist Ltd., Cooking Vinyl Limited and TVT Records.
Midnight Sunday Eastern Time
So, you mind telling us when the PIPE took place. Don’t need to know at what price if I have an idea when. If the conditions was like most of the CDs done before BLLN stopped reporting I’ll also have a fair idea.
But anyway, welcome, and to da moon with QTrax.
Any official and public backing by the labels at the launch will be crucial
Looks like we'll be hitting the $1.00 dollar ceiling sometime early to mid March given the current trend. Any PR or other positive movement could of course hasten this.
I sure would like to know the identities of the group that has so very slowly and carefully been buying up any and all CVSC share made available on the market.
The company has updated the share structure info on PinkSheet:
*
Estimated Market Cap
11,734,893.8 as of Jan 25, 2008
*
Outstanding Shares
16,764,134 as of Jan 1, 2008
*
Authorized Shares
100,000,000 as of Jan 1, 2008
*
Number of Share Holders of Record
1,050 as of Jan 1, 2008
*
Float
2,561,000 as of Jan 1, 2008
Note that the O/S has been drastically cut from 25,672,809 million reported on 4-10-07
From a reliable source, QTrax is supposed to go live at 12:00 am eastern Sunday
Board rated No 1 IHUB Breakout Board
http://investorshub.advfn.com/boards/HotBoardsRelative.asp
We're smokin hot
memorex. 0.081 is a new 52 week high. Oh, correction, make that 3 a year high
Added the Channel 4 news clip to the I-Box
Same here. Aren't we good or what
Yep, you steared me on to it back in October, thank you, and I would imagine this is your second BLLN ride as well. If this thing breaks 0.08 we could very well have a rocket on our hands. Eeeh, in our hands...lol
yep, three-baggers coming up shortly. Had to add some at 0.074 just for the hell of it. MOMO has now caught it. MOMO is up to 1.20 on Etrade-PRO momo-meter
Bot 25K at 0.74 just to help our common cause along. The board has added ONE more member mark today.. LMFAO. BLLN still flying way under the radars. It's all good from here
:)
OK. Who's the joker cutting me off with a stupid 0.1466 bid
DTNM stock is not Pink Sheet eligible, because DMTN does not have an NASD approved 211 filing. Therefore, the quotes you see on the Pinksheets are unsolicited.
An unsolicited quote represents a customer order and not a market maker's own position and must be removed from the system once the customer order is executed.
1. Market Makers do not carry any inventory in unsolicited stock since they are prohibited from making a market in them
2. A quote represents a real costumer order, with real shares
All stocks not listed on a national exchange, i.e. Nasdaq, AMEX, or NYSE are considered Over-the-Counter (OTC) stocks. OTC stocks quoted on the OTC Bulletin Board (OTCBB) are sometimes referred to as OTCBB stocks. OTC stocks quoted on the Pink Sheets Electronic OTC Market are sometimes referred to as Pinkies or Pinksheet Stocks. Likewise, on the lowest rung, stocks on the Grey Market are also considered OTC stocks. (Pink Sheets may at their discretion publicize quotes for securities on the Grey Market).
However they are all OTCs, BLLN included
2,175,000 share block went through at .0611 around 12:25pm....(above the ask) that $133,000 trade NICE!!
w 0.0611 2175000 OTO 12:25:05
The Naz. Not a chance in many years
NASDAQ Capital Market Initial Listing Requirements
Requirements Standard 1 Standard 2 Standard 3
Stockholders’ equity $5 million $4 million $4 million
Market value of publicly held shares $15 million $15 million $5 million
Operating history 2 years N/A N/A
Market value of listed securities N/A $50 million N/A
Net income from continuing operations
(in the latest fiscal year or in two of the last three fiscal years) N/A N/A $750,000
Publicly held shares 1 million 1 million 1 million
Bid price $4 $4 $4
Shareholders (round lot holders) 300 300 300
Market makers 3 3 3
Corporate governance Yes Yes Yes
left click the chart.
click on properties
in the Element Properties pop-up box, copy the Location address
paste into document as [ chart ]....copy here...[ /chart ]
delete the "http://" part of the pasted address
and voila, there it is
isn't it typical though. just about every time a company announces a financing, the market will drop to or just below the price of the offering. It's like the market is saying: Screw you!!
It'll be interesting to see if 0.15 will hold. Have a feeling we may get a capitulation or two if this low pps holds over the weekend.
Do like I just did and open your wallet again and put one in at 0.145 just in case.
nice weather today!!
more to the point. There was no longer any need for a SB-2 registration filing of the shares to be sold since the selling stockholders had already held these for more than one year. Per rule 144 non-affiliated stockholders may begin to sell unregistered (or restricted) stock after a one year hold (within certain volume limitations)
The Beta is right now more like an Alpha release. Downloads are still not activated, but you can easily get an idea of its potential. No question, the full Beta release is just around the corner
Was hoping to add some more in the 5s before too late, but no deal so far
The stock were sold at 0.155 and the warrants at 0.33. The 8-K is written in such a way that a brief read through makes you think that both the stock and the warrants were sold at 0.33. It don't matter much since the stock is not registered and can't be sold until registered with an S-2 or S-4 in a future offering.
Only the first 5 filings on your list are still active. The rest are too old (+90 days) and have therefore expired.
or switch to Firefox.
Looks like we finally broke that 5 resistance.........lets see if we can turn that around and use as support. 8 cents next. That speech by Allen at CES must have encouraging.
Market-on-Close orders should be next
$2 minimum for AMEX and $4 for Naz are the first hurdles. After that, there are
Qualitative Standards as well. In evaluating listing eligibility, the Exchanges also consider qualitative factors such as the nature of a company's business, market for its products, reputation of its management, historical record and pattern of growth, financial integrity, demonstrated earnings power, and future outlook.
Corporate Governance Standards
Requires listed companies to adhere to its corporate governance standards
Audit Committee
The Exchanges requires a listed company to utilize its audit committee to conduct an appropriate review of all related party transactions on an ongoing basis.
Independent Directors and Audit Committee The Exchanges has various requirements regarding a company's independent directors and audit committee. Any domestic issuer must be prepared to demonstrate compliance with these requirements and ongoing compliance is also required for listed companies.
Once you have all this in place, the rest is minor like
1. Shareholders' equity $4 million
2. Total market capitalization $50 million
3. Distribution:
- 800 public shareholders and 500,000 shares publicly held
OR
- 400 public shareholders and 1 million shares publicly held
OR
- 400 public shareholders, 500,000 shares publicly held, and average daily trading volume of 2,000 shares for previous 6 months
5. Market value public float $15 million
Note: these numbers are for AMEX and are a couple of years old and may have changed
0.40.....There it goes
The really flagrant companies will have their registration revoked by the SEC and the Pinksheet will no longer perform quotation services for that stock. In other words, the company will be “delisted” from the Pinksheets and it becomes a Grey Market stock. Yes, there are things worse than the Pinksheets
Here are some samples of some SEC actions lately
http://www.sec.gov/litigation/admin/2008/34-57112.pdf
http://www.sec.gov/litigation/admin/2008/34-57097-o.pdf
http://www.sec.gov/litigation/admin/2007/34-56921.pdf
http://www.sec.gov/litigation/admin/2007/34-56884.pdf
http://www.sec.gov/litigation/admin/2007/34-56844.pdf
That said, it is true that companies can violate their periodic reporting obligations for years and still remain as a pinkie. The SEC just doesn’t have the manpower to go after each of them. However, there is an unwritten SEC rule that if the stock consistently trades in volumes worth more than $1 million per day. the SEC will keep you on their watch list and eventually come after you.
Your post is full of misconceptions about the pinksheets, so let me straighten it out for you
1. Wellman is not required to keep SEC filings current (10Qs, 10Ks, annual meeting, etc
This is incorrect. Periodic reporting obligations have nothing to do with how and where the stock is traded. The reporting obligation is tied to its stock being registered with the SEC. As long as the company stock is registered with the SEC, the company has the same reporting obligation as any other stock listed on any national exchange. To escape this reporting obligation the company must file a Form 15 to deregister its stock with the SEC
From Section 12 of the 1934 Exchange Act: ……if the issuer has a class of securities registered, or required to be registered, pursuant to Section 12(g) of the Exchange Act or another class of securities registered under Section 12(b) of the Exchange Act, the duty to file reports will continue
In addition, from WMAN delisting PR: ……Wellman will remain a reporting company for SEC purposes and will continue to comply with all reporting requirements, the company said, noting, “This decision should not impact the financial status of the company or affect the way it conducts its business.”
2. we will not get info on insider ownership/trades, institutional ownership, and shorts (naked or otherwise).
Wrong again. Institutional ownership reporting is mainly the institution’s responsibility not the company’s, although the 10-K will typically include a tabulation of the 5% and larger holders. Pinksheet short reporting is done twice monthly, just as before when listed on the NYSE.
3. Wellman had all SEC filings current so it could have easily have gone to OTC-bb .
Not true. Wellman did not choose pinksheets. All delisted companies will initially be listed on the pinksheets. Once the company has found an OTCBB sponsoring market maker, this marketmaker can then apply for quotation of WMAN on the OTCBB. Only MMs can apply to quote securities on the OTCBB. This process is likely ongoing but usually takes a few months.
Welcome to the Pinksheets, but you need to read up on the subject
A nickel! There it is again. A close at 5 or better would be terrific.
Wonder if knowledge about BLLN and QTRAX has started to spread into the prospective user groups yet.