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It will be filed, and if it is not filed, then there would be another agreed extension. Don't think for a minute it will not get filed at some point, because no way will they pass up an opportunity to charge time against the estate.
nice pump article but he is way off the mark
The PIERS will, they just don't realize it yet.
Well we're past the deadlines and the creditors aren't paid and the sec filings aren't current. No need to be surprised. Like really, no one expected Sherman to come through, did they?
I suggest you look at the chart for wahuq and you'll get an idea.
pacer
Fact has it that an order was entered yesterday extending the time for the debtors to file a response up to and including november 3 and leave of up to 80 pages. The plaintiffs have until november 17 to file a reply.
It's almost like a creditor actually received some shares to sell. Are we at 8 yet?
Maybe they should fill the forms correctly and learn how to spell. A representation by the CEO that the company has indeed filed 'all' filings that are due, when they obviously have not, is fraudulent.
Would that be the "proceeding" week? lol Maybe so, but what can you say, other than qsgi and co continues with the strange behavior.
Such is the world of distressed investing. Bonds trading around 40 cents on the dollar and all the BK players are beginning to line up, with a possible fraudulent conveyance on the horizon will only lead to one thing.
The territory is being staked as we speak. The only real question is whether it is a pre-pack or not.
Strange? Surely not. A quarterly report with 2 something year old data, with some recent data mixed in. This is no 10Q like i've ever seen. First off, I should represent only data/information that was relevant during that specific quarter. It does not. It's like amateur hour in GAAP land.
Just look at the very beginning of the report. First off, a glaring misrepresentation coupled with pathetic miss-spelling. ::::=>
"Indicate by check mark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the proceeding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o "
The indication 'x' should be no, instead of yes, and it should read 'preceding' instead of "proceeding".
Why, because they haven't filed what they are supposed to and everyone agrees on that and "proceeding", well, lol, what can you say?
Once again, a fraudulent representation by Marc Sherman. Maybe he should read what he signs, unless he was the one that put it together.
On September 21, 2011, QSGI Green, Inc. (“QSGI Green”) a newly-formed, wholly-owned subsidiary of the Company completed the transactions contemplated by the Asset Purchase Agreement (the “TGG Agreement”) with The Gasket Guy, Inc (the “Seller” or “TGG”) a Florida Corporation, primarily engaged in the manufacture and installation of refrigeration gaskets throughout the United States.
On September 26, 2011, QSGI Green (the “Borrower”) entered into a loan agreement (the “Bank Note”) with First City Bank of Commerce (the “Lender”) in the amount of $564,775 to replace the Seller’s existing bank note. The Bank Note bears interest at 7.5% and has a maturity date of September 26, 2015. The Bank Note is primarily supported by accounts receivable and inventory of QSGI Green. The Bank Note is personally guaranteed by the two previous founding owners of TGG.
From the recent 10Q ^^^ and one of the only things of value in it, other than clarification of the outstanding shares and the obvious negative equity. It's kinda sad when the new revamped company has to get two co-signers to be able to assume a note. Obviously First City Bank doesn't think much of QSGI and their ability to pay bills. Not only do they have debt, they had to get someone to hold their hand to get it, lol.
and who was it that made you think r/m ?
When the financials that were made public just months ago in the plan and disclosure statement are re-stated verbatim in the next 10-q, you won't be laughing.
The statements i made came from just months old disclosures that are found in every disclosure statement and plan that is required to exit bankruptcy. Financials are always addressed before bankruptcy exit, as it is needed in order to satisfy the plan. Those are the latest and greatest financial data points available at this time. If anyone wants to complain, do so to management, as they continue to drag their feet. Furthermore, it is quite telling that every time referencing the disclosure statement and plan is favorable to one's post(s), it is not met with "oh that information is years old and don't matter". When not, well....
They haven't been for years and were not as of the latest financials. My information comes from the latest financials, and yours?
Very true, net net cash on hand was less than the start up credit loan, which means they've actually lost money.
Then i guess that the fact the only cash they have on hand is borrowed is also minutia, lol.
Provide links for those 2 judgments plz, the board may like to see them, unless they don't exist
you did, you said riconda has lost in federal court twice, therefore there would be 2 judgments against him. please provide for the board, thx
So it would be easy for you to point to those 2 judgments, right? links please
You do realize Sherman stiffed Riconda, dont you?
May i suggest some light reading? With all this fraud, liar stuff, if you read starting on page 7 of this QSGI 8K, the terms of the Riconda CCSI/qsgi deal are structured almost exactly as the new deal with gasket guy.
Sherman looking for rinse and repeat.
http://idc.api.edgar-online.com/efx_dll/edgarpro.dll?FetchFilingConvPDF1?SessionID=71leHo4xHylk9vS&ID=6664575
Who's the shyster?
'Discoveries' ? Maybe in your country, but not this one. I know the process, it varies state to state, and federal, but the general term used in the process is 'discovery'. Just about the only thing immune to discovery is attorney-client communications, just about everything else goes....whether or not it is relevant to the case at hand. You can ask any off the wall question you want in sworn depositions, and they will need to be answered, relevant or not. Like SEC questions, for example.
Oh contrare. Any fool with a two bit legal background can extrapolate the reason for settling, for whatever amount, was to avoid DISCOVERY. In the discovery process, all kinds of skeletons will come out of the closet,,,and with the watchful eye of the SEC looking over your shoulder there is motivation for a settlement. Don't wake the sleeping giant, if you don't need to...even Sherman isn't that stupid.
Just a formality. Since it is a short extension, the plan will likely be filed on or before that date. Then you will have some indication of the timing of distributions from the terms in the plan.
Maybe he meant 2012. I think it is a lot better chance the DOW will hit 5000 before qsgi will hit 20 cents.
Yeah, but i could have bought maybe 10 million shares of worthless stock with that!
What you interpret as bashing, others might see as useful insight. Most dogs never learn,,they get hit and keep chasing, all the way up until they really get mashed. This dog will do the same.
I'm glad to see the 95 cents i spent on pacer has come to good use:
http://investorshub.advfn.com/uimage/uploads/2011/10/11/wrbjnreal.gif
Good to see some new moderators on this. I thought the SEC would normally spend countless hours pouring over forensic evidence to put a case together. No so, some folks make it real easy it seems.
ND, good work. To answer your question about a link, i assume the other one worked. It is for the same fraudster....ahem....person.
Total BS, untrue, and a violation of securities laws
Global BK Confirmation Order 11/6/2009 (Proof this was a SCAM pump)
http://www.scribd.com/doc/67832943/Global-BK-Confirmation-Order-11-6-2009
Read at paragraph 12. This is worthless ghost stock.
This should be a sticky, but that will never happen.
Then start clearing
Hello SEC, let me be of service to you today for the GA scam.
http://www.linkedin.com/pub/harry-drought-jr/b/a16/500
http://www.facebook.com/#!/profile.php?id=1635550026
I know who it is. His name is embedded in one of the websites that hosted the fake POR.
It is fake. That case doesn't exist. I downloaded the confirmation order that clearly states equity is worthless. Hope to get it up soon.